article,headline
"The logo for ConocoPhillips is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - ConocoPhillips (COP.N) on Thursday raised its planned annual shareholder returns by $5 billion after the U.S. oil producer's quarterly profit beat estimates on surging energy prices, sending shares up 3% in premarket trade.Oil and gas prices have skyrocketed with Western sanctions on major producer Russia throttling supply amid a rebound in demand from pandemic lows.Global crude benchmark Brent was trading at $96.81 a barrel on Thursday, around 25% higher this year.Register now for FREE unlimited access to Reuters.comHouston, Texas-based ConocoPhillips' average realized price per barrel of oil equivalent rose 77% to $88.57 in the quarter from a year earlier. The company has not hedged any of its oil and gas sales to make the most of higher market prices, it said.ConocoPhillips now plans to return $15 billion to shareholders this year, joining oil major Chevron Corp (CVX.N) and others in increasing payouts after years of pressure on shale drillers over low returns.The company, which kept its spending forecast intact, slightly lowered its full-year production outlook on uncertainty in Libya.The company's second-quarter adjusted earnings of $3.91 per share beat Wall Street estimates of $3.80 per share, according to Refintiv IBES data.Register now for FREE unlimited access to Reuters.comReporting by Shariq Khan in Bengaluru; Editing by Shinjini Ganguli and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.",ConocoPhillips sweetens shareholder returns by $5 bln as profit jumps.
"Here are the most important news items that investors need to start their trading day:1. Stock futures rise slightlyTraders on the floor of the NYSE, August 1, 2022.Source: NYSEWall Street is set for a slightly higher open Thursday, as futures contracts for all three major U.S. stock indexes were in the green. The market is looking to build off Wednesday's robust gains, which put an end to a two-day losing streak to start August trading. The Nasdaq Composite outperformed Wednesday, advancing 2.59% as investors flocked to beaten-up tech stocks. The S&P 500 added 1.56% and reached its highest level since June, while the Dow Jones Industrial Average rose 1.29%.2. Walmart lays off corporate employeesA shopping cart outside a Walmart store in Torrance, California, US, on Sunday, May 15, 2022. Walmart Inc. is scheduled to release earnings figures on May 17.Bing Guan | Bloomberg | Getty ImagesWalmart, the largest private employer in the U.S., has started to lay off corporate workers. The decision, which the company confirmed Wednesday, came public a little more than one week after the Arkansas-based retail giant cut its full-year profit outlook and warned about inflation's impact on discretionary spending. ""Shoppers are changing. Customers are changing,"" Walmart spokesperson Anne Hatfield told CNBC's Melissa Repko on Wednesday. ""We are doing some restructuring to make sure we're aligned."" Read CNBC's full story here.3. Oil rises after reaching nearly 6-month lowsOil pumpjacks are viewed in the Inglewood Oil Field in Los Angeles, California. Oil prices dropped early on Monday as investors braced for this week's meeting of officials from OPEC and other top producers on supply adjustments.Mario Tama | Getty Images News | Getty ImagesOil prices rose Thursday, a day after crude futures for both the U.S. and international benchmarks slid nearly 4% and settled at their lowest levels since February. The move came as OPEC and its oil-producing allies said they would only raise their output by 100,000 barrels per day in September. An unexpected increase in U.S. crude and gasoline stockpiles also weighed on energy markets in Wednesday's session. On Thursday, West Texas Intermediate futures traded up roughly 0.7% to around $91.27 per barrel.4. Alibaba shares gain after earnings beatMore and more Asian companies have announced share buybacks in recent weeks. Chinese internet giant Alibaba has said it will increase its share buyback program from $15 billion to $25 billion.Sheldon Cooper, SOPA Images | LightRocket | Getty Images5. Bank of England hikes rates by half-percentage pointGeneral view of The Royal Exchange, Bank of England and City of London on an overcast day.Vuk Valcic | SOPA Images | LightRocket | Getty ImagesThe Bank of England raised interest rates by 50 basis points Thursday, its biggest single-meeting increase in 27 years as the U.K. central bank tries to tamp down inflationary pressures. Notably, the Bank of England now projects the nation's economy will enter a recession in the fourth quarter of 2022 that could last more than a year. It expects headline inflation to peak in October, at 13.3%, and stay above its 2% target until 2025. Read the full story from CNBC's Elliot Smith here.— Sign up now for the CNBC Investing Club to follow Jim Cramer's every stock move. Follow the broader market action like a pro on CNBC Pro.",5 things to know before the stock market opens Thursday.
"Governor of the Bank of England Andrew Bailey at the Bank of England, in London, Britain July 5, 2022. Stefan Rousseau/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 4 (Reuters) - The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a rise in inflation which is now set to top 13%.Reeling from a surge in energy prices caused by Russia's invasion of Ukraine, the BoE's Monetary Policy Committee voted 8-1 for a half percentage point rise in Bank Rate to 1.75% - its highest level since late 2008 - from 1.25%. read more MARKET REACTION:Register now for FREE unlimited access to Reuters.comSTOCKS: British stocks (.FTSE) extended gains after the central bank decision and were up nearly 0.5% on the day. Banking stocks (.FTNMX301010) jumped briefly before consolidating gains.FOREX: The pound edged higher immediately after the rate decision but then turned lower on the day as the central bank said the economy will enter into a recession by the fourth quarter of 2022.MONEY MARKETS: Interest rate markets were pricing in about 32 bps of rate hikes by September compared to 34 bps before the rate decisionCOMMENTS:JANET MUI, HEAD OF MARKET ANALYSIS, BREWIN DOLPHIN:“The move is in line with the outsized rate increases other major central banks have done recently. Financial markets expect Bank rate to eventually peak at close to 3% sometime in 2023, so there is some way to go before the Bank pause.“With the forthcoming jumbo increases in energy bills and further tightening in financial conditions for some households and corporates, the cost of living crisis will be a burning policy issue for the contenders of the next Prime Minister.”SAM COOPER, VICE PRESIDENT, MARKET RISK SOLUTIONS, SILICON VALLEY BANK:“No surprise in the headline decision to hike the interest rate by a 0.50% increment. However, the bleak outlook for GDP and rising inflation forecasts included in the meeting minutes have dampened market confidence and this has translated into a weaker sterling.”STUART COLE, HEAD MACRO ECONOMIST, EQUITI CAPITAL:""What I think is very telling is that the forecast for inflation for end 2023 is higher than CPI is at the moment. It is hard not to see more 50bps hikes being delivered given that fact.""""Add onto that the upwards revision to CPI, which is now seen peaking at 13.3% and remaining elevated throughout next year, and it all points to a tough policy dilemma for the BoE going forward.""PAUL CRAIG, PORTFOLIO MANAGER, QUILTER INVESTORS, LONDON:""In the back of the mind of policy makers will be the current public mood. Sentiment is shifting against the Bank of England with a recent survey pointing to more people being dissatisfied with the job it is doing than satisfied people.“The other significant shift from the BoE in recent weeks was the dropping of mortgage affordability rules. With the economic picture looking incredibly challenging, and mortgage rates subsequently rising off the back of the BoE’s moves, the decision to drop those rules is looking more and more circumspect by the day. There is a concern the lessons of 2008 are beginning to be forgotten.""Register now for FREE unlimited access to Reuters.comReporting by the London Markets and Finance Team; Compiled by Saikat Chatterjee; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Reactions: Bank of England raises rates by most since 1995.
"World August 4, 2022 / 7:41 AM / CBS News Scientists use mini-satellites to save coral reefs Scientists use satellites in fight to save coral reefs 03:23 The central and northern stretches of Australia's Great Barrier Reef are showing the highest coral cover seen in 36 years, showing that the fragile UNESCO World Heritage site could still recover from decades of damage, a monitoring group reported Thursday. Coral cover in the southern region of the reef decreased, however, and the reef is vulnerable to increasingly common disturbances like mass bleaching events, the group said.There was an increase in average hard coral cover in the northern region of the reef to 36% in 2022 from 27% in 2021, and an increase in in the central region to 33% in 2022 from 27% in 2021, the Australian Institute of Marine Sciences (AIMS) said in its annual summary report.Despite this, ""a third of the gain in coral cover we recorded in the south in 2020/21 was lost last year due to ongoing crown-of-thorns starfish outbreaks,"" Dr. Paul Hardisty, CEO of AIMS, said in a statement. ""This shows how vulnerable the Reef is to the continued acute and severe disturbances that are occurring more often, and are longer-lasting."" Tourists flock to natural wonders being affected by climate change 05:07 AIMS has been monitoring the Great Barrier Reef since 1986. It said the increase in frequency of mass bleaching events — when coral, in response to stressful conditions like heat, loses its pigments and symbiotic algae, turns white, and potentially dies — were ""uncharted territory."" ""In our 36 years of monitoring the condition of the Great Barrier Reef we have not seen bleaching events so close together,"" Hardisty said. ""Every summer the Reef is at risk of temperature stress, bleaching and potentially mortality and our understanding of how the ecosystem responds to that is still developing.""Dr. Mike Emslie, also from the AIMS monitoring program, said that most of the coral increase in the north and central parts of the reef was driven by fast-growing but fragile Acropora corals, and could therefore be reversed quickly. ""These corals are particularly vulnerable to wave damage, like that generated by strong winds and tropical cyclones,"" Emslie said. ""The increasing frequency of warming ocean temperatures and the extent of mass bleaching events highlights the critical threat climate change poses to all reefs, particularly while crown-of-thorns starfish outbreaks and tropical cyclones are also occurring. Future disturbance can reverse the observed recovery in a short amount of time."" In: Climate Change Great Barrier Reef Australia Haley Ott Haley Ott is a digital reporter/producer for CBS News based in London. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Parts of Great Barrier Reef show highest coral cover seen in 36 years, report finds."
"Russia's President Vladimir Putin attends a parade marking Navy Day in Saint Petersburg, Russia July 31, 2022. Sputnik/Mikhail Klimentyev/Kremlin via REUTERSRegister now for FREE unlimited access to Reuters.comMOSCOW, Aug 4 (Reuters) - The Kremlin on Thursday called for restraint from both sides after Azerbaijan said its forces had crushed an Armenian attack near the disputed enclave of Nagorno-Karabakh. read more The dispute over the region, a mountainous territory inside Azerbaijan controlled since the 1990s by ethnic Armenians, flared in 2020 into a six-week war in which Azeri troops regained swathes of territory.Both sides accused each other of violating the terms of a Russia-brokered ceasefire on Wednesday, which prompted international calls for an end to the 30 years of fighting.Register now for FREE unlimited access to Reuters.com""We are watching very closely, we are naturally concerned about the situation worsening,"" Kremlin spokesperson Dmitry Peskov told reporters. ""We ask the parties for restraint and most importantly to implement all provisions of the trilateral documents.""Armenia and Azerbaijan agreed to work on a peace plan after a ceasefire but the two sides periodically accuse each other of firing shells.Peskov said there were currently no plans for President Vladimir Putin to speak to his Azeri counterpart Ilham Aliyev, but that any contact could be quickly arranged.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.","Kremlin calls for restraint from Azerbaijan, Armenia over Karabakh fighting."
"The IMF said governments should strive to protect the most vulnerable households with targeted support, but noted that existing policies aimed at cushioning all consumers were short-sighted.Picture Alliance | Getty ImagesThe International Monetary Fund warned European governments against intervening in the region's worsening energy crisis with broad-based financial support, saying instead that consumers should bear the brunt of higher prices to encourage energy saving and aid the wider shift to green power.The IMF on Wednesday said governments should strive to protect the most vulnerable households with targeted support, but noted that existing policies aimed at cushioning all consumers from rising costs would dent European economies — many already on the verge of a recession — and deter the energy transition.""Governments cannot prevent the loss in real national income arising from the terms-of-trade shock. They should allow the full increase in fuels costs to pass to end-users to encourage energy saving and switching out of fossil fuels,"" the European arm of the IMF wrote in a blog post.Sweeping price controls seen as short-sightedUntil now, European policymakers have introduced sweeping price controls, subsidies and tax cuts to soften the blow of rising energy costs, which have surged across the continent following Russia's war in Ukraine and a wider supply glut.But the Washington-based institute warned that such sweeping support was short-sighted, costing some governments an estimated 1.5% of gross domestic product this year while continuing to inflate demand — and therefore prices.""Suppressing the pass-through to retail prices simply delays the needed adjustment to the energy shock by reducing incentives for households and businesses to conserve energy and enhance efficiency. It keeps global energy demand and prices higher than they would otherwise be,"" the report said.Europe is facing an unprecedented gas crisis.Picture Alliance | Picture Alliance | Getty ImagesInstead, the IMF said that policymakers should ""shift decisively away from broad-based measures to targeted relief policies,"" specifically supporting poorer households who are most vulnerable to higher prices but least able to cope with them.Fully offsetting the increase in the cost of living for the bottom 20% of households would cost governments a comparatively lower 0.4% of GDP on average for the whole of 2022, it said. To do so for the bottom 40% would cost 0.9%, it added.The paper added that it was ""appropriate"" for governments to support some otherwise viable businesses during a short-lived price surge, for instance, if Europe were to face a complete cut-off of gas flows from Russia.However, it added that with prices expected to remain higher for several years, the overall case for supporting businesses is ""generally weak.""Europe scrambles to cut energy consumptionThe IMF's comments come as European countries are scrambling for ways to reduce energy consumption and reliance on Russian oil and gas.Spain on Tuesday announced new energy-saving measures, including limits on air conditioning and heating temperatures in public areas. It follows similar moves by the German city of Hanover last week, which said it was banning hot water in public buildings, swimming pools, sports halls and gyms.Meantime, energy giants continue to reap the benefits of higher prices, with BP on Tuesday reporting its biggest quarterly profit in 14 years.The United Nations Secretary-General Antonio Guterres slammed oil and gas companies on Wednesday for their apparent profiteering from the energy crisis.""It is immoral for oil and gas companies to be making record profits from this energy crisis on the backs of the poorest people and communities,"" Guterres said in a speech.Guterres, like the IMF, said that the funds from energy companies — which equate to $100 billion in the first quarter of 2022 — should be redirected to support vulnerable communities.",IMF tells Europe to let consumers bear the brunt of higher bills to encourage energy saving.
"U.S. basketball player Brittney Griner, who was detained at Moscow's Sheremetyevo airport and later charged with illegal possession of cannabis, looks on inside a defendants' cage before a court hearing in Khimki outside Moscow, Russia August 2, 2022.Evgenia Novozhenina | ReutersU.S. basketball star Brittney Griner returns to a Russian court on Thursday as her drugs trial grinds towards a finale that could result in a 10-year prison sentence and then a prisoner swap for one of the world's most notorious arms dealers. Griner, a two-time Olympic gold medallist and a Women's National Basketball Association (WNBA) star, was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing hashish oil in her luggage. Cannabis is illegal in Russia for both medicinal and recreational purposes. The cartridges threw the 31-year-old Texan athlete into the geopolitical maelstrom triggered when President Vladimir Putin sent troops into Ukraine on Feb. 24. During the most strained U.S.-Russian relations since the 1962 Cuban missile crisis, U.S. President Joe Biden is under pressure to intervene on behalf of detained Americans — including Griner. The United States has said Griner was wrongfully detained and made what Secretary of State Antony Blinken called a ""substantial offer"" to Moscow to exchange Russian prisoners for American citizens held in Russia, including Griner and former Marine Paul Whelan. One source familiar with the situation said that Washington was willing to exchange convicted arms trafficker Viktor Bout, whose life helped inspire the 2005 Hollywood film ""Lord of War"", starring Nicholas Cage. Russian officials have said a deal has not been reached. They argue that Griner — known as ""BG"" to basketball fans — violated the country's laws and should be judged accordingly. The Kremlin has also repeatedly warned Washington against resorting to megaphone diplomacy, or negotiations conducted through press releases. They say this strategy could derail the swap. Griner's lawyer said on Tuesday that the trial should end very soon and that once the court renders a verdict, a swap between Russia and the United States would become legally possible. Griner, who pleaded guilty but denied intending to break Russian laws, has shown little emotion in court. Her lawyer said on Tuesday that Griner was both nervous and focused as the trial neared its end.Wearing round-rimmed glasses and athletic clothing at every hearing, Griner listened to the proceedings via a translator and spoke quietly to her lawyers through the bars of the defendant's cage at the Khimki District Court outside Moscow. Before taking a seat, Griner held up personal photographs, including many of her wife Cherelle, whom Biden called last month to assure that Washington was working to secure Griner's release. Griner, selected first overall by the Phoenix Mercury in the 2013 WBNA draft, had flown to Russia to join her team, UMMC Ekaterinburg, for the playoffs after spending time at home in the United States.Like several other prominent U.S. national team stars, Griner played in the Russian Women's Basketball Premier League during the WNBA offseason. In her testimony last week, Griner expressed puzzlement as to how the vape cartridges had ended up in her luggage. ""I still don't understand to this day how they ended up in my bag,"" she told the court on July 27. ""If I had to guess on how they ended up in my bags, I was in a rush packing."" Griner had been prescribed medical marijuana in the United States to relieve pain from chronic injuries, a treatment method that is common among elite athletes because it has fewer side effects than some painkillers.",Brittney Griner awaits her fate in Russian drugs trial.
"People protest during a rally calling for more government action to combat the spread of monkeypox at Foley Square on July 21, 2022 in New York City. The Biden administration is undergoing a course correction in its response to the monkeypox outbreak after weeks of logistical and bureaucratic delays providing testing, treatments and vaccines.Jeenah Moon | Getty Images News | Getty ImagesThe Biden administration is undergoing a course correction in its response to the monkeypox outbreak after weeks of logistical and bureaucratic delays providing testing, treatments and vaccines.Biden officials acknowledge they are now playing catch-up as case numbers grow faster than initially expected, said people close to the administration, noting the number of infections has jumped from dozens to thousands in a short amount of time.As part of its new approach, the administration is working to drastically increase the number of people vaccinated against monkeypox and improve access to an experimental treatment for those infected, in addition to naming a monkeypox coordinator to manage the response from the White House across agencies and with state and local governments.Still, the administration faces a maze of obstacles, according to a dozen doctors on the frontlines and former public health officials who spoke with NBC News.""I feel like we still have the opportunity to continue to control this, but it's really a matter of getting the resources,"" said Julie Morita, who advised President Joe Biden on Covid during the transition and led the Chicago Department of Public Health for nearly two decades.""Public health needs to be resourced adequately, the vaccine supply needs to be increased, and communication efforts really need to be ramped up. But all those things can happen and can lead to control of this outbreak. It's not too late,"" Morita said.This week, New York and California were among numerous states that declared public health emergencies, while the Centers for Disease Control and Prevention reported infections in all but two states. According to an NBC News analysis of CDC data, the seven-day average of reported new cases increased from 45 on July 11 to 214 just two weeks later.In total, the U.S. has reported nearly 6,000 cases since the beginning of May. The total worldwide exceeds 20,000.With the virus currently spreading almost entirely among men who have sex with men, the administration's strategy has largely been focused on vaccinating the most high-risk individuals, which include men who have had multiple male partners in a two-week period or those with known exposure.More recently, though, administration officials have urged other men who have sex with men to cut down on high-risk behavior, like having multiple partners, until the outbreak is under control. They're attempting to get that word out to gay, transexual and bisexual communities through dating apps, at events and engagement with community leaders.That's a shift in strategy from earlier in the summer when officials were focused on vaccinating only those who had been infected and their close contacts. But as infections ballooned in the past month, state and local health officials were not able to keep pace with the rate of infections, said a person familiar with the efforts.The White House on Tuesday appointed Robert Fenton the national monkeypox response coordinator, with Demetre Daskalakis as deputy coordinator. The two will hold their first press briefing on the response efforts Thursday.""The President is always looking at ways we can do more to stop the spread of Monkeypox,"" said an administration official. ""And by having Bob Fenton and Dr. Daskalakis at the helm as White House coordinators, we will ramp up our urgent, whole of government response even more.""The federal government has said it plans to ship more than 700,000 doses to states, on top of the 300,000 already allocated, but officials haven't detailed plans for any additional doses.""Once the data showed that this outbreak was different than past ones and transmitting rapidly, we scaled up our comprehensive response, rapidly accelerating timelines to make over one million doses of vaccines available,"" the administration official said.Doctors and public health officials say doses of the vaccine have been slow to arrive, and doctors are concerned there won't be enough to meet demand, driven in part now from those at lower risk of getting infected, like health care workers and men in monogamous relationships.In San Francisco, local officials requested 35,000 doses for the city but so far have only around 12,000 doses, said Tyler Temeer, CEO of the San Francisco AIDS Foundation. His clinic has 10,000 people on a waiting list and has gotten just over 1,000 doses, he said.For the vaccine to be most effective, a person needs to receive two doses.In New York City, demand has also far outstripped supply. But among one key group where infections have been particularly high — Black men who have sex with other men — demand has been low, said Celine Gounder, an infectious disease specialist in New York. She said more work needs to be done to reach those most at risk, many of whom lack health insurance, don't have a primary care doctor or are stigmatized for having sex with other men.""What we're seeing among cases is that some 30% to 40% of cases are in men of color or trans women of color, and yet, if you look at who's lining up for vaccination, the vast majority is white men, whether it's in New York City where I am or my colleagues down in Atlanta, we are seeing the same thing play out,"" said Gounder. ""And that is a concern because you're not reaching that high risk population.""Some states may also see a delay in getting their vaccine doses because the federal government has said it won't ship a state's full allotment of vaccines until they begin sharing data on infection rates and demographics, something some states argue they can't do because of privacy laws, said Marcus Plescia, chief medical officer for the Association of State and Territorial Health Officials.For those who do get infected, doctors say they face hours of paperwork in order to get access to a smallpox treatment called Tpoxx that's believed to work on monkeypox patients. That process has discouraged some providers from treating monkeypox patients, Gounder and other doctors said.The federal government has tried to streamline the process, but because Tpoxx isn't approved by the Food and Drug Administration for treating monkeypox, government officials want to ensure they are getting data on who is receiving it to gauge its safety and effectiveness, said a person familiar with the process. Public officials and doctors said they are pushing for the White House to declare a public health emergency, a move that could free up Covid funding to be used for monkeypox, remove some administrative barriers to accessing Tpoxx and improve data sharing between states and the federal government.""The declaration of a federal public health emergency will help alleviate some of the problems we currently have, but resources must follow,"" said David Harvey, executive director of the National Coalition of STD Directors.CNBC Health & Science Read CNBC's latest global health coverage:Biden names team to manage U.S. monkeypox response as outbreak growsBiden's Covid relapse sparks talk of 'Paxlovid rebounds'—here's what you need to know about the pillU.S. secures 171 million omicron Covid shots ahead of fall vaccination campaignHealth secretary calls on Congress and states to do more to help contain monkeypox outbreakPfizer quarterly sales surge to record high, driven by Covid vaccine and antiviral treatment PaxlovidU.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreadsWHO recommends gay and bisexual men limit sexual partners to reduce the spread of monkeypoxInternally, frustrations over the administration's response have led to some finger-pointing between the White House and Department of Health and Human Services, said people close to the administration.The White House has said it will let Health and Human Services Secretary Xavier Becerra decide whether to declare a public health emergency.Many of the issues doctors and health officials have been grappling with around the response to monkeypox are similar to those faced during the Covid pandemic — a lack of testing, mixed messaging and not enough vaccines to meet demand. While monkeypox is a much different virus than Covid — it is believed to be spread mostly through skin-to-skin contact, not through the air — it has highlighted the flaws that remain in the government's ability to respond to new outbreaks.""We're not fundamentally set up in public health for crisis response,"" said Andy Slavitt, who led the White House response to Covid during Biden's first year in office. ""And we've got a very beleaguered public health system to boot. Those are things that Congress needs to fix, that those within the administration needs to fix. There are big requests for that work, and there are reforms that need to happen.""",White House scrambles to play catch-up on monkeypox response.
"The edge of Glencore's Mount Owen coal mine and adjacent rehabilitated land are pictured in Ravensworth, Australia, June 21, 2022. Picture taken June 21, 2022. Picture taken with a drone. REUTERS/Loren ElliottRegister now for FREE unlimited access to Reuters.comSummaryCompaniesCompany to pay out $3 bln in share buybackAlso promises $1.45 billion special dividendAdjusted EBITDA more than doubles to $18.92 billionLONDON, Aug 4 (Reuters) - Shareholders Glencore (GLEN.L) reaped a multi-billion dollar windfall on Thursday as the company's adherence to thermal coal mining at a time of soaring prices of the material generated record profits for the mining and commodity trading group.Unlike rivals which bowed to investor pressure to exit fossil fuels, Glencore mines millions of tonnes of thermal coal, whose prices have reached record highs reflecting shortages during protracted COVID-related lockdowns and the war in Ukraine, and trades millions of barrels of crude oil a year.The company said it would pay out an additional $4.5 billion, including a $1.45 billion special dividend worth 11 cents per share, and a $3 billion share buyback which it said was worth around 23 cents a share, taking 2022 payouts to $8.5 billion in total.Register now for FREE unlimited access to Reuters.comThe company had in February announced a $4 billion payout including a dividend and a $550 million share buyback. read more The London-listed company bucked the trend of the likes of Rio Tinto (RIO.AX) and Anglo American (AAL.L) that have slashed payouts after last year's bonanza, but warned about future returns on fears that slower growth or recession in key markets could dent commodity demand in the next few months.Glencore, which plans to run down its thermal coal mines by the mid-2040s, produces more than 100 million tonnes a year at mines in Colombia, Australia and South Africa. It is Australia's biggest coal producer with 25 mines in New South Wales, Queensland and other parts of the country. read more Glencore chief Gary Nagle told reporters that very strong coal prices had significantly boosted the group's earnings from its industrial operations, though he also noted it continued to see inflationary pressures which were a ""consistent headwind"".""There are obviously headwinds: higher interest rates, higher inflation, economy slowdown, but mining and commodities is a long-term game and we look at where the world is going. We believe that China's recovery will come and there will be more stimulus,"" Nagle said.SURGING PRICESThe group's adjusted core earnings or EBITDA more than doubled to $18.92 billion in the six months through June, compared with $8.7 billion a year earlier and above analysts' expectations of $18.4 billion.Its trading division's half-year adjusted operating profit reached $3.7 billion, far exceeding the top end of its long-term annual outlook range of $3.2 billion. It expects ""normal market conditions to prevail in the second half of the year.""Surging prices for fuel and other materials needed in mine processing, coupled with tightening labour markets partly caused by COVID-19 absenteeism, drove Glencore's costs up and disrupted supply chains.""Cost revisions are likely to partially offset some of the earnings upside for 2022,"" Citi analysts said. ""That said, potential reversal of working capital in 2H and continuation of strong earnings should support expectations of cash return.""Glencore's net debt fell to $2.3 billion in the first half from $6 billion at the end of 2021.The company in May agreed to pay around $1.5 billion to authorities in the United States, Brazil and Britain to resolve charges of price manipulation and bribery. read more It still faces investigations from Dutch and Swiss regulators.Glencore's share price rose around 2% by 0916 GMT in London, outperforming the sector index. (.FTNMX551020)($1 = 0.8235 pounds)Register now for FREE unlimited access to Reuters.comReporting by Clara Denina in London and Muhammed Husain in Bengaluru; Editing by Uttaresh.V and David HolmesOur Standards: The Thomson Reuters Trust Principles.",Glencore shareholders get $4.5 bln windfall as coal prices soar.
"The hometown of Ukraine's President Volodymyr Zelenskyy is looking increasingly vulnerable, coming under repeated attacks from Russian forces in recent days, with Ukraine's southern army unit saying Russia is building a military ""strike force"" to target Kryvyi Rih.Early Thursday, Ukraine's southern military command said the situation in its operational area — where fighting is intensifying around Zelenskyy's hometown of Kryvyi Rih as well as Zaporizhzhia to the east and Mykolaiv and Kherson to the south — is ""tense and complex.""Ukraine has warned that Russia is carrying out a ""massive redeployment"" of troops from the east to the south of Ukraine as it tries to defend its territorial gains against Ukraine's attempts to reclaim occupied Kherson and areas around Zaporizhzhia. The battle for eastern Ukraine is ongoing, however, with Zelenskyy describing the situation in the Donbas as hellish, adding that Russia still has the upper hand in the region.Kyiv has ordered the mandatory evacuation of residents in the Donbas amid intense fighting.Kremlin rebuffs NATO criticism, accuses alliance of creating a 'threat to the world order'The Kremlin rebuffed criticism from NATO's secretary-general and instead accused the Western military alliance of destabilizing the world order.Earlier, NATO's Jens Stoltenberg said Russia's war in Ukraine is an attack on the current world order and that Europe was ""experiencing its most dangerous situation since World War II."" In addition, he said that Russia must not be allowed to win the war.But Russian President Vladimir Putin's press secretary Dmitry Peskov dismissed those comments, claiming NATO had fueled the conflict.""This situation has been maturing for several decades and in many ways it was fueled by the policy of NATO because they brought the borders closer to Russia, this created additional threats for us,"" Peskov said.Kremlin Press Secretry Dmitry PeskovAnadolu Agency | Anadolu Agency | Getty ImagesPeskov claimed that the origins of the ""real threat to the world order on our continent — that is, in Europe"" was what he described as a ""coup"" in 2014. He claimed this was ""carefully orchestrated, including by the member countries of the NATO, despite the guarantees they gave us.""""This is where the danger and threat to the world order flows from. Therefore, we agree with Stolenberg's statement,"" Peskov said.Russia's annexation of Crimea in March 2014 came after pro-democracy protests in Ukraine that began in late 2013 and continued into the new year. In February 2014, the protests culminated in the ousting of Ukraine's then pro-Russian President Viktor Yanukovych in what many Ukrainians termed the Maidan Revolution or Revolution of Dignity.Russia said the ousting was the result of a Western-promoted, illegal ""coup"" and annexed Crimea and stoked pro-Russian unrest in eastern Ukraine, which has continued to this day. Pro-Western and particularly pro-European young Ukrainians supported the ousting of Yanukovich, seeing it as a step toward political independence from Russia and toward membership in the European Union.— Holly EllyattRussia's war in Ukraine is attack on world order, NATO chief saysNATO Secretary-General Jens Stoltenberg delivers remarks to the news media as U.S. Secretary of State Antony Blinken hosts Stoltenberg at the State Department in Washington, U.S., June 1, 2022.Leah Millis | ReutersRussia's war in Ukraine is an attack on the current world order, according to NATO's Secretary-General Jens Stoltenberg.Stoltenberg, speaking in his native Norway, said Europe was ""experiencing its most dangerous situation since World War II"" and that Russia must not be allowed to win.""It's in our interest that this type of aggressive policy does not succeed,"" Stoltenberg said in comments reported by Reuters. Stoltenberg added that if Russian President Vladimir Putin considered doing anything similar to a NATO country, the full alliance will react.A central tenet of the Western military alliance is that an attack on one member is an attack on the whole 30-member organization, with members pledging to come to each other's mutual aid.— Holly EllyattUkraine tells Lebanon to reverse decision to clear grain shipment for travelA picture shows a view of the bow of the grain-laden Syrian-flagged ship Laodicea, docked in Lebanon's northern port of Tripoli, on July 30, 2022.Fathi Al-masri | Afp | Getty ImagesUkraine called on Lebanon on Thursday to reverse a decision by a court in Tripoli to authorise the departure of a seized Syrian ship carrying what Kyiv says is stolen Ukrainian grain, Reuters reported Thursday.In a statement, the Ukrainian foreign ministry said it was disappointed by the court's decision to clear the Syrian-flagged Laodicea for departure and said that Kyiv's position had not been taken into account.— ReutersRussian forces feeling the threat from Ukraine's Western-supplied weapons, UK notesA Ukrainian army unit shows the rockets on HIMARS vehicle in eastern Ukraine on July 1, 2022.The Washington Post | The Washington Post | Getty ImagesUkraine's offensive to retake occupied territory in the south of the country and its use of Western-supplied weapons is putting mounting pressure on Russia's forces, according to the latest intelligence update from the U.K.'s Ministry of Defence.""Ukraine's missile and artillery units continue to target Russian military strongholds, personnel clusters, logistical support bases and ammunition depots,"" the ministry said on Twitter Thursday.""This will highly likely impact Russian military logistical resupply and put pressure on Russian military combat support elements.""A picture taken on July 21, 2022 shows a car moving past a crater on Kherson's Antonovsky bridge across the Dnipro river caused by a Ukrainian rocket strike, amid the ongoing Russian military action in Ukraine.Stringer | AFP | Getty ImagesThe U.K. said Russia was feeling threatened by Western-supplied weapons systems that are allowing Ukraine's forces to counterattack the Russian army more effectively, citing efforts by Russia to hide damage the Antonovsky Bridge, which leads to occupied Kherson and is vital for their military supplies to the city, that was hit by Ukrainian missiles last week.""Russian forces have almost certainly positioned pyramidal radar reflectors in the water near the recently damaged Antonivskiy [Antonovsky] Bridge and by the recently damaged nearby rail bridge, both of which cross over the Dnipro River in Kherson, southern Ukraine,"" the U.K. noted.""The radar reflectors are likely being used to hide the bridge from synthetic aperture radar imagery and possible missile targeting equipment. This highlights the threat Russia feels from the increased range and precision of Western-supplied systems.""— Holly EllyattRussian 'strike force' building to target Zelenskyy's hometown of Kryvyi RihKryvyi Rih, the hometown of Ukraine's President Volodymyr Zelenskyy, is looking increasingly vulnerable with Ukraine saying Russia is building a military ""strike force"" to target the industrial city in central-southern Ukraine.Early Thursday, Ukraine's southern military command saying the situation in its operational area — where fighting is intensifying around Kryvyi Rih as well as Zaporizhzhia to the east, and Mykolaiv and Kherson to the south — is ""tense and complex.""""The enemy continues to conduct hostilities on the occupied line of defense. In order to prevent the advance of our troops and restore the lost position, the composition of the group in the Kryvyi Rih direction is increasing due to the transfer of units of the 35th Army of the Eastern Military District,"" the unit said, saying that Russian aircraft were becoming ""more active"" and attacking the area south of Kryvyi Rih.Residential buildings and industrial plants across the city skyline in Kryvyi Rih, Ukraine, on Wednesday, June 29, 2022.Bloomberg | Bloomberg | Getty ImagesUkraine's southern military command said in a previous update on Wednesday that it believed Russia was creating a military ""strike group in the Kryvyi Rih region"" and that ""it's also quite likely that the enemy is preparing a hostile counter-offensive with the subsequent plan of getting to the administrative boundary of Kherson region.""Officials in Ukraine have repeatedly warned in recent days that Russia is redeploying a massive number of troops to the south of the country, where Ukraine has launched counteroffensives to try to regain lost territory, particularly the occupied city of Kherson.Ukrainian artillerymen in the military assembly center check the weapons and special equipment to make them ready before they go to their duties at the frontline in Kherson, Ukraine on July 15, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesIn his nightly address on Sunday evening, Zelenskyy praised the bravery of residents in his hometown, as well as other cities under repeated attack as Russia looks to extend its territorial gains in east and southern Ukraine.""I want to thank every resident of Mykolaiv for their indomitability, for protecting the city and the region. I also thank Nikopol, Kharkiv, Kryvyi Rih and the entire Dnipropetrovsk region, the strong people of Zaporozhzhia and the region, all Ukrainians of the Kherson region, everyone who defends the approaches to Odessa and the region ... Thank you for your courage."" ""Strategically, Russia has no chance of winning this war,"" he added.— Holly EllyattZelenskyy says he wants to speak with Chinese President Xi JinpingUkrainian President Volodymyr Zelensky is seen during a joint press conference with Swedish Prime Minister Magdalena Andersson on July 4, 2022 in Kyiv, Ukraine. Zelenskyy is seeking an opportunity for direct talks with Chinese leader Xi Jinping to help end Russia's unprovoked war in Ukraine, the South China Morning Post reported.Alexey Furman | Getty Images News | Getty ImagesUkrainian President Volodymyr Zelenskyy wants to speak directly with Xi Jinping in hopes China's president could use the country's influence to end Russia's unprovoked war in Ukraine.In an interview with the South China Morning Post, Zelenskyy said Ukraine has pursued talks with China since the beginning of the war. He told the newspaper that Russia would feel much more economically isolated without the Chinese market and could use that to pressure Russian President Vladimir Putin to stop the war.China has repeatedly said it supports a ""peaceful resolution"" to the situation in Ukraine, but has so far refused to call Russia's war an ""invasion.""— Natalie ThamU.S. Senate approves Finland and Sweden's membership to NATOSweden's Foreign Minister Ann Linde and Finland's Foreign Minister Pekka Haavisto attend a news conference with NATO Secretary General Jens Stoltenberg, after signing their countries' accession protocols at the alliance's headquarters in Brussels, Belgium July 5, 2022.Yves Herman | ReutersThe U.S. Senate voted 95 to 1 to ratify Finland and Sweden's entrance to the North Atlantic Treaty Organization, calling expansion of the Western defensive bloc a ""slam-dunk"" for U.S. national security and a day of reckoning for Russian President Vladimir Putin over his invasion of Ukraine.Senators invited the ambassadors of the two Nordic nations to witness the debate and the vote, a crucial step in opening a new era for the now 30-member North Atlantic Treaty Organization and its 73-year-old pact of mutual defense among the United States and democratic allies in Europe.President Joe Biden has sought quick entry for the two previously non-militarily aligned northern European nations. Their candidacies have won ratification from more than half of the NATO member nations in the roughly three months since the two applied, a purposely rapid pace meant to send a message to Russia over its six-month-old war against Ukraine's West-looking government.""It sends a warning shot to tyrants around the world who believe free democracies are just up for grabs,"" Sen. Amy Klobuchar, D-Minn., said in the Senate debate ahead of the vote.""Russia's unprovoked invasion has changed the way we think about world security,"" she added.— Associated PressUkraine nuclear plant is 'out of control,' UN nuclear chief saysInternational Atomic Energy Agency (IAEA) Director General Rafael Grossi attends a joint news conference after talks in Tokyo, Japan May 19, 2022.Issei Kato | ReutersThe U.N. nuclear chief warned that Europe's largest nuclear power plant in Ukraine ""is completely out of control"" and issued an urgent plea to Russia and Ukraine to quickly allow experts to visit the sprawling complex to stabilize the situation and avoid a nuclear accident.Rafael Grossi, director general of the International Atomic Energy Agency, said in an interview Tuesday with The Associated Press that the situation is getting more perilous every day at the Zaporizhzhia plant in the southeastern city of Enerhodar, which Russian troops seized in early March, soon after their Feb. 24. invasion of Ukraine.""Every principle of nuclear safety has been violated"" at the plant, he said. ""What is at stake is extremely serious and extremely grave and dangerous.""Grossi cited many violations of the plant's safety, adding that it is ""in a place where active war is ongoing,"" near Russian-controlled territory.— Associated PressZelenskyy says 'global security architecture' is not working, cites tensions in the Balkans and TaiwanUkraine's President Volodymyr Zelenskyy attends a working session of G7 leaders via video link, as Russia's attack on Ukraine continues, in Kyiv, Ukraine June 27, 2022.Ukrainian Presidential Press Service | via ReutersUkrainian President Volodymyr Zelenskyy said the ""global security architecture"" is not working, and referenced tensions in the Balkans, Taiwan and in the Caucasus.""If it worked, there wouldn't be all these conflicts,"" Zelenskyy said in his nightly address on the Telegram messaging app.""And this is actually something that Ukraine has been paying attention to not only 161 days after the start of a full-scale war, but for years. Ever since Russia completely ignored international law, the interests of humanity as such,"" he added.— Amanda MaciasRead CNBC's previous live blog here:",Kremlin claims NATO is 'real threat' to world order; Russian 'strike force' builds around Zelenskyy's hometown.
"Russian President Vladimir Putin chairs a meeting on the development of the country's metallurgical sector, via a video link at the Kremlin in Moscow, Russia August 1, 2022. Sputnik/Pavel Byrkin/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comMOSCOW, Aug 4 (Reuters) - The Kremlin said on Thursday that China had the sovereign right to hold major military drills around Taiwan and accused the United States of artificially fuelling tensions in the region.China fired multiple missiles around Taiwan on Thursday as it launched unprecedented military drills a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that Beijing regards as its sovereign territory.Asked about China's drills, Kremlin spokesman Dmitry Peskov said: ""This is China's sovereign right.""""The tension in the region and around Taiwan was provoked... by the visit of Nancy Pelosi,"" Peskov told reporters on a conference call. ""It was an absolutely unnecessary visit and an unnecessary provocation.""Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.",Kremlin says China has the right to hold military drills around Taiwan.
"A Chinese military helicopter flies past Pingtan island, one of mainland China's closest points to Taiwan on August 4, 2022. China's largest-ever military exercises encircling Taiwan follow a visit to the self-ruled island by U.S. House Speaker Nancy Pelosi.Hector Retamal | AFP | Getty ImagesChina launched unprecedented live-fire military drills in six areas that ring Taiwan on Thursday, a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that Beijing regards as its sovereign territory.Soon after the scheduled start at 0400 GMT, China's state broadcaster CCTV said the drills had begun and would end at 0400 GMT on Sunday. They would include live firing on the waters and in the airspace surrounding Taiwan, it said.Taiwan officials have said the drills violate United Nations rules, invade Taiwan's territorial space and are a direct challenge to free air and sea navigation.China is conducting drills on the busiest international waterways and aviation routes and that is ""irresponsible, illegitimate behavior,"" Taiwan's ruling Democratic Progressive Party said.Taiwan's cabinet spokesman, expressing serious condemnation of the drills, said also that websites of the defense ministry, the foreign ministry and the presidential office were attacked by hackers.Chinese navy ships and military aircraft briefly crossed the Taiwan Strait median line several times on Thursday morning, a Taiwanese source briefed on the matter told Reuters.By midday on Thursday, military vessels from both sides remained in the area and in close proximity.Taiwan scrambled jets and deployed missile systems to track multiple Chinese aircraft crossing the line.""They flew in and then flew out, again and again. They continue to harass us,"" the Taiwanese source said.On Wednesday night, just hours after Pelosi left for South Korea, unidentified aircraft, probably drones, flew above the area of Taiwan's outlying Kinmen islands near the mainland coast, Taiwan's defense ministry said.China, which claims Taiwan as its own territory and reserves the right to take it by force, said on Thursday its differences with the self-ruled island were an internal affair.""Our punishment of pro-Taiwan independence diehards, external forces is reasonable, lawful,"" China's Beijing-based Taiwan Affairs Office said.China's Foreign Minister Wang Yi called Pelosi's visit to Taiwan a ""manic, irresponsible and highly irrational"" act by the United States, state broadcaster CCTV reported.Wang, speaking at a meeting of Southeast Asian foreign ministers in Phnom Penh, Cambodia, said China had made the utmost diplomatic effort to avert crisis, but would never allow its core interests to be hurt.The foreign ministers in a statement had earlier warned that volatility caused by tensions in the Taiwan Strait could lead to ""miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers.""'Comrade Pelosi'Unusually, the drills in six areas around Taiwan were announced with a locator map circulated by China's official Xinhua news agency earlier this week — a factor that for some analysts and scholars shows the need to play to both domestic and foreign audiences.On Thursday, the top eight trending items on China's Twitter-like Weibo service were related to Taiwan, with most expressing support for the drills or fury at Pelosi.""Let's reunite the motherland,"" several users wrote.In Beijing, security in the area around the U.S. Embassy remained unusually tight on Thursday as it has been throughout this week. There were no signs of significant protests or calls to boycott U.S. products.""I think this (Pelosi's visit) is a good thing,"" said a man surnamed Zhao in the capital's central business district. ""It gives us an opportunity to surround Taiwan, then to use this opportunity to take Taiwan by force. I think we should thank Comrade Pelosi.""Pelosi, the highest-level U.S. visitor to Taiwan in 25 years, praised its democracy and pledged American solidarity during her brief stopover, adding that Chinese anger could not stop world leaders from travelling there.China summoned the U.S. ambassador in Beijing in protest against her visit and halted several agricultural imports from Taiwan.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,"" Pelosi told Taiwan's President Tsai Ing-wen, who Beijing suspects of pushing for formal independence — a red line for China.""Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today.""The United States and the foreign ministers of the Group of Seven nations warned China against using Pelosi's visit as a pretext for military action against Taiwan.White House national security spokesman John Kirby said earlier in the week that Pelosi was within her rights to visit Taiwan, while stressing that the trip did not constitute a violation of Chinese sovereignty or America's longstanding ""one-China"" policy.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself.China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.. ambassador in Beijing in protest against her visit and halted several agricultural imports from Taiwan.","China begins live-fire military drills around Taiwan, a day after Pelosi visit."
"National Guard troops pose for photographers on the East Front of the U.S. Capitol the day after the House of Representatives voted to impeach President Donald Trump for the second time January 14, 2021 in Washington, DC.Chip Somodevilla | Getty ImagesIn an earnings call Wednesday morning, Yum Brands CEO David Gibbs expressed the confusion many people are feeling as they try to figure out what's going on with the U.S. economy right now:""This is truly one of the most complex environments we've ever seen in our industry to operate in. Because we're not just dealing with economic issues like inflation and lapping stimulus and things like that. But also the social issues of people returning to mobility after lockdown, working from home and just the change in consumer patterns.""Three months earlier, during the company's prior call with analysts, Gibbs said economists who call this a ""K-shaped recovery,"" where high-income consumers are doing fine while lower-income householders struggle, are oversimplifying the situation.""I don't know in my career we've seen a more complex environment to analyze consumer behavior than what we're dealing with right now,"" he said in May, citing inflation, rising wages and federal stimulus spending that's still stoking the economy.At the same time, societal issues like the post-Covid reopening and Russia's war in Ukraine are weighing on consumer sentiment, which all ""makes for a pretty complex environment to figure out how to analyze it and market to consumers,"" Gibbs said.Gibbs is right. Things are very strange. Is a recession coming or not?There is ample evidence for the ""yes"" camp.Tech and finance are bracing for a downturn with hiring slowdowns and job cuts and pleas for more efficiency from workers. The stock market has been on a nine-month slump with the tech-heavy Nasdaq off more than 20% from its November peak and many high-flying tech stocks down 60% or more.Inflation is causing consumers to spend less on nonessential purchases like clothing so they can afford gas and food. The U.S. economy has contracted for two straight quarters.Downtown San Francisco doesn't quite have the ghost town feel it did in February, but still has vast stretches of empty storefronts, few commuters and record-high commercial real estate vacancies, which is also the case in New York (although Manhattan feels a lot more like it's back to its pre-pandemic hustle).Then again:The travel and hospitality industries can't find enough workers. Travel is back to nearly 2019 levels, although it seems to be cooling as the summer wanes. Delays are common as airlines can't find enough pilots and there aren't enough rental cars to satisfy demand.Restaurants are facing a dire worker shortage. The labor movement is having its biggest year in decades as retail workers at Starbucks and warehouse laborers at Amazon try to use their leverage to extract concessions from their employers. Reddit is filled with threads about people quitting low-paying jobs and abusive employers to ... do something else, although it's not always exactly clear what.A shrinking economy typically doesn't come with high inflation and a red-hot labor market.Here's my theory as to what's going on.The pandemic shock turned 2020 into an epoch-changing year. And much like the 9/11 terrorist attacks in 2001, the full economic and societal effects won't be understood for years.Americans experienced the deaths of family members and friends, long-term isolation, job changes and losses, lingering illness, urban crime and property destruction, natural disasters, a presidential election that much of the losing party refuses to accept, and an invasion of Congress by an angry mob, all in under a year.A lot of people are dealing with that trauma — and the growing suspicion that the future holds more bad news — by ignoring propriety, ignoring societal expectations and even ignoring the harsh realities of their own financial situations. They're instead seizing the moment and following their whims.Consumers aren't acting rationally, and economists can't make sense of their behavior. It's not surprising that the CEO of Yum Brands, which owns Taco Bell, KFC and Pizza Hut, can't either.Call it the great unrest.How might that manifest itself? In a decade, how will we look back at the 2020s?Perhaps:Older workers will continue to leave the workforce as soon as they can afford it, spending less over the long term to maintain their independence, and stitching together freelance or part-time work as needed. The labor market will remain tilted toward workers.Workers in lower-paying jobs will demand more dignity and higher wages from their employers, and be more willing to switch jobs or quit cold if they don't get them.People will move more for lifestyle and personal reasons rather than to chase jobs. Overstressed workers will continue to flee urban environments for the suburbs and countryside, and exurbs one-to-three hours' drive from major cities will see an upswing in property values and an influx of residents. Dedicated urban dwellers will find reasons to switch cities, creating more churn and reducing community bonds.The last vestiges of employee loyalty will disappear as more people seek fulfillment ahead of pay. As one tech worker who quit her job at Expedia to work for solar tech company Sunrun recently put it, ""You just realize there's a little bit more to life than maxing out your comp package.""Employees who proved they could do their jobs remotely will resist coming back to the office, forcing employers to make hybrid workplaces the norm. Spending patterns will change permanently, with businesses catering to commuters and urban workers continuing to struggle.Those with disposable income will vigorously spend it on experiences — travel, restaurants, bars, hotels, live music, outdoor living, extreme sports — while curbing the purchase of high-end material goods and in-home entertainment, including broadband internet access and streaming media services. The pandemic was a time to hunker down and upgrade the nest. Now that we've got all the furniture and Pelotons we need, it's time to go out and have fun.It's possible that this summer will be the capstone to this period of uncertainty and consumers will suddenly stop spending this fall, sending the U.S. into a recession. Further ""black swan"" events like wars, natural disasters, a worsening or new pandemic, or more widespread political unrest could similarly squash any signs of life in the economy.Even so, some of the behavioral and societal shifts that happened during the pandemic will turn out to be permanent.These signals should become clearer in earnings reports as we move further from the year-ago comparisons with the pandemic-lockdown era, and as interest rates stabilize. Then, we'll find out which businesses and economic sectors are truly resilient as we enter this new era.WATCH: Jim Cramer explains why he believes inflation is coming down",The great unrest: How 2020 changed the economy in ways we can't understand yet.
"Pedestrians walk by a large Adidas logo inside the German multinational sportswear shop.Miguel Candela | SOPA Images | LightRocket via Getty ImagesAdidas on Thursday said operating profit fell by 28% in the second quarter to 392 million euros ($398.43 million), as results suffered from suspending business in Russia, higher supply chain costs and Covid-19 lockdowns in China and Vietnam.The German sportswear firm said currency-neutral sales rose 4% in the quarter but net income from continuing operations declined to 360 million euros from 387 million euros in the same period last year.The company had cut its 2022 outlook in July, citing slower than expected recovery in China, and now expecting currency-neutral revenues to grow at a mid- to high-single-digit rate this year.",Adidas posts 28% decline in second quarter operating profit despite sales increase.
"U.S. House of Representatives Speaker Nancy Pelosi speaks at a meeting with Taiwan President Tsai Ing-wen (not pictured) at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comTAIPEI/BEIJING, Aug 4 (Reuters) - As U.S. House of Representatives Speaker Nancy Pelosi made a brief visit to Taiwan this week that enraged Beijing, the welcome she received from government officials and the public was in sharp contrast with a different sort of message that began popping up elsewhere on the island.On Wednesday, in some branches of 7-11 convenience stores in Taiwan, the television screens behind cashiers suddenly switched to display the words: ""Warmonger Pelosi, get out of Taiwan!""The largest 24-hour convenience store chain on the island was the victim of what Taiwanese authorities are calling an unprecedented amount of cyber attacks on government websites belonging to the presidential office, foreign and defence ministries as well as infrastructure such as screens at railway stations, in protest against Pelosi's visit.Register now for FREE unlimited access to Reuters.comTaipei has not directly blamed the attacks on the Chinese government, but has said that the attacks on government websites -- which paralysed the sites' operations -- originated from addresses in China and Russia. It also said the firms whose displays were changed had used Chinese software that could have contained backdoors or Trojan horse malware.Taiwan's digital minister Audrey Tang said the volume of cyber attacks on Taiwan government units on Tuesday, before and during Pelosi's arrival, surpassed 15,000 gigabits, 23 times higher than the previous daily record.Lo Ping-cheng, Taiwan Cabinet spokesman, said on Wednesday that the government had stepped up security at key infrastructure including power plants and airports and increased the cyber security alertness level across government offices. On Thursday, he said no related damage had been detected so far.""Government departments have been very careful. In these past few days, in terms of public security, we have set up a three-tier government security and communication mechanism, it is already tough and defensive enough so these adaptations have been beneficial,"" he told a briefing.THEATRE, RATHER THAN THREATPelosi's visit triggered furious responses from the Chinese public and Beijing, who said the trip to the self-ruled island it regards as its territory infringed its sovereignty. On Thursday, China fired missiles around Taiwan as part of a series of unprecedented military drills. read more A cybersecurity research organisation said the attacks against Taiwanese government websites before Pelosi's visit were likely launched by Chinese activist hackers rather than the Chinese government. read more Hacker group APT 27, which has been accused by Western authorities of being a Chinese state-sponsored group, claimed responsibility for the cyber attacks on Taiwan on Wednesday, saying on YouTube that they were done to protest how Pelosi had defied China's warnings with her visit. It also claimed it had shut down 60,000 internet-connected devices in Taiwan.Asked about the cyber attacks in Taiwan on Thursday at a regular Chinese foreign ministry briefing, a spokesperson declined to comment. The Cyberspace Administration of China, which regulates the country's internet, did not immediately respond to a request for comment.Experts said that the cyber attacks, combined with China's live firing exercises, provide Taiwan's leaders with a preview of what an invasion from China would look like.In recent years, several reports from think tanks in Taiwan and the United States have emphasised the high likelihood that, in the event of a military assault of Taiwan, China would first launch a debilitating cybersecurity attack on Taiwan’s key infrastructure, such as its power grid.Still, Eryk Waligora, a cyber threat intelligence specialist at Accenture, said the latest ones appeared to be ""more theatre than threat"" so far. He said past attacks, like a campaign between November last year to February that forced several financial institutions in Taiwan to suspend online transactions, were more sophisticated technically, and damaging.“There have certainly been far worse cyber-attacks,” he said.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu and Eduardo Baptista; Additional reporting by Yimou Lee and Martin Pollard, Writing by Brenda Goh; Editnig by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.","From 7-11s to train stations, cyber attacks plague Taiwan over Pelosi visit."
"U.S. August 4, 2022 / 6:25 AM / CBS/AP MOVE bombing victims’ remains uncovered Families search for closure 36 years after MOVE bombing 07:05 The remains of two children killed in the 1985 bombing by police of a Philadelphia home used as the headquarters of a Black radical group have been returned to their brother, the man said Wednesday.The remains of Katricia and Zanetta Dotson will be cremated and taken to North Carolina to be buried, Lionell Dotson told reporters outside the Philadelphia medical examiner's office.""For the city to give me this is a momentous occasion,"" Dotson, who was 8 when his sisters died, told WCAU-TV. Katricia was 14 and Zanetta was 12. ""It's not about me; it's about them. Finally giving them a resting place permanently – I can do this for them."" The city said officials were meeting with next of kin but wouldn't provide details ""out of respect for the families.""MOVE members, led by founder John Africa, practiced a lifestyle that shunned modern conveniences, preached equal rights for animals and rejected government authority. They took the last name Africa. In this May, 1985 photo, scores of row houses burn in a fire in the west Philadelphia neighborhood. Police dropped a bomb on the militant group MOVE's home on May 13, 1985 in an attempt to arrest members, leading to the burning of scores of homes in the neighborhood AP The group clashed with police and neighbors, and police seeking to oust members used a helicopter to drop a bomb on the house on May 13, 1985. Five children and six adults inside died, and the resulting fire destroyed more than 60 row houses. A 1986 commission report called the decision to bomb an occupied row house ""unconscionable."" MOVE survivors were awarded a $1.5 million judgment in a 1996 lawsuit.The city's health commissioner resigned in May last year after officials said partial remains from the bombing had been cremated in 2017. The city later said, however, that the remains had not been destroyed and had been found at the medical examiner's office.Last month, a long-awaited report was released on the injustice relating to the bombing, CBS Philadelphia reported. But the 257-page report failed to answer the key questions that prompted the probe last year: Who put the box of remains in a storage room at the medical examiner's office prior to its discovery in 2017? Also unclear, why did the employee that was instructed to cremate the remains four years ago under city health commissioner Dr. Thomas Farley defy the order to do so? ""I've been very sincerely sorry that it happened,"" Mayor Jim Kenney said. ""Again, a lot of the mishandling happened back in the '80s when the tragedy occurred. We'll make sure it doesn't happen again."" In: Philadelphia Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Remains of 2 children killed in controversial 1985 Philadelphia bombing by police returned to family, brother says."
"U.S. Secretary of State Antony Blinken attends the ASEAN Foreign Ministers' Meeting in Phnom Penh, Cambodia August 4, 2022. REUTERS/Soe Zeya TunRegister now for FREE unlimited access to Reuters.comPHNOM PENH, Aug 4 (Reuters) - The United States opposes any unilateral efforts to change the Taiwan status quo, especially by force, and its policy on Taiwan has not changed, Secretary of State Antony Blinken told Southeast Asian counterparts on Thursday.Cross-Straits stability was in the interests of the whole region, he told a meeting in Cambodia, adding also that Washington was eager to hear ideas from the Association of Southeast Asian Nations (ASEAN) on how it could cooperate with the Quad.Register now for FREE unlimited access to Reuters.comReporting by David Brunstrom; Writing by Martin Petty; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.",U.S. opposes any effort to change Taiwan status quo - Blinken.
"Take a look at some of the biggest movers in the premarket:Eli Lilly (LLY) – The drug maker's stock fell 3.6% in the premarket after it missed estimates with its quarterly results and cut its full-year forecast. Lilly's performance during the quarter was impacted by lower prices for insulin and falling sales of its Covid-19 treatment.Cigna (CI) – The insurance company reported better-than-expected profit and revenue for the second quarter and raised its full-year outlook. Cigna was helped by lower costs resulting from a slow rebound in non-urgent medical procedures. Cigna rose 2.6% in premarket trading.Restaurant Brands (QSR) – The parent of Popeyes, Tim Hortons and Burger King beat top- and bottom-line estimates for its latest quarter, with comparable restaurant sales also rising more than expected. Restaurant Brands added 1.8% in premarket action.Alibaba (BABA) – Shares of the China-based e-commerce giant jumped 5.2% in premarket trading after better-than-expected quarterly results. That came despite flat revenue growth for the first time ever, due to Covid-19-related lockdowns in China.Paramount Global (PARA) – Paramount fell 4% in the premarket despite better-than-expected quarterly results, which got a boost from the success of ""Top Gun: Maverick."" Paramount did note that it spent more on its direct-to-consumer services during the quarter, with its flagship Paramount+ streaming service gaining 4.9 million subscribers.Shake Shack (SHAK) – The restaurant chain's shares slid 5.7% in the premarket despite avoiding an expected loss with a breakeven quarter on an adjusted basis. Shake Shake's revenue missed Wall Street forecast, and the company said June sales were below its expectations after April and May sales came in as expected.Booking Holdings (BKNG) – The parent of Priceline and other travel services reported better-than-expected quarterly profit, but revenue missed forecasts and the company said travel difficulties like flight cancellations cut into its July growth. Booking Holdings fell 3.1% in the premarket.Clorox (CLX) – Clorox shares slid 5.9% in premarket trading as higher costs offset price hikes for the company's consumer products in its latest quarter. Revenue fell slightly below estimates, though earnings did match Wall Street forecasts.Toyota Motor (TM) – The automaker's shares fell 3.5% in premarket action after it reported a 42% drop in profit from a year ago for its latest quarter. Toyota was impacted by supply chain issues and rising costs, which prevented it from producing as many cars as it had intended.","Stocks making the biggest moves premarket: Eli Lilly, Cigna, Restaurant Brands and more."
"A model of 3D printed oil barrels is seen in front of displayed stock graph going down in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comSINGAPORE, Aug 4 (Reuters) - Saudi Arabia, the world's top oil exporter, raised September crude oil prices for Asian buyers to record high levels despite falling refining margins.The official selling price (OSP) for September-loading Arab Light to Asia was raised by 50 cents a barrel from August to $9.80 a barrel over Oman/Dubai quotes, state oil producer Saudi Aramco (2222.SE) said on Thursday, exceeding the previous record of $9.35 per barrel set in May.The price hike was lower than market forecasts of 70 cents to $1 a barrel. read more Register now for FREE unlimited access to Reuters.com""Now all crude grades are getting cheaper, so Saudi needs to make its prices competitive. Otherwise traders will take spot cargoes (rather) than lift Saudi oil,"" said a Singapore-based trader.The spread between Brent and Dubai narrowed to $6.55 a barrel on Thursday, a level last seen in late April, making Brent-linked grades more attractive to Asian buyers and putting pressure on regional grades.Profit margins at Asian refiners who process Dubai crude plunged by as much as 96% in July, pressured by the prospect of a global economic recession and weakening fuel demand.Refiners have been concerned that a further hike in crude oil prices could prompt refineries to trim output to manage their balance sheets.The OSP for Arab Extra Light was increased by 30 cents to $10.95 a barrel, and for Arab Medium it was raised by 60 cents to $7.75 a barrel, both record levels.Saudi Arabia set its Arab Light OSP to northwest Europe at plus $4.70 a barrel against ICE Brent for September, and to the United States at $6.15 a barrel.Saudi's OSPs also came after OPEC+ agreed to raise its oil output goal by 100,000 barrels per day from September, although the market saw the increase as too small to have any meaningful impact on the supply. read more Register now for FREE unlimited access to Reuters.comReporting by Muyu Xu, Florence Tan and Ashitha Shivaprasad; editing by Jason Neely and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Saudi Arabia sets Sept crude prices to Asia at record high.
"Saudi Crown Prince Mohammed bin Salman speaks during the Jeddah Security and Development Summit in Jeddah, Saudi Arabia, July 16, 2022. Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS//File PhotoRegister now for FREE unlimited access to Reuters.comLONDON/DUBAI, Aug 4 (Reuters) - OPEC leaders Saudi Arabia and the United Arab Emirates stand ready to deliver a ""significant increase"" in oil output should the world face a severe supply crisis this winter, sources familiar with the thinking of the top Gulf exporters said.When the Organization of the Petroleum Exporting Countries and its allies (OPEC+) decided on Wednesday to raise oil output by a mere 100,000 barrels per day (bpd), it broke a taboo with a rare reference to the group's spare production capacity.The statement referred to ""the severely limited availability"" of spare capacity, saying that meant it needed to kept it in reserve for ""severe supply disruptions"".Register now for FREE unlimited access to Reuters.comAt first glance, that reads as an acknowledgement that OPEC’s leader Saudi Arabia has almost no room to raise output, as mentioned by French President Emmanuel Macron in a conversation with U.S. President Joe Biden last month.Three sources, speaking on condition of anonymity because of the sensitivity of the issue, said Saudi Arabia and the UAE could pump ""significantly more"", but would only do so if the supply crisis worsened.""With possibly no gas in Europe this winter, with a potential price cap on Russian oil sales in the New Year, we can’t be throwing every barrel on the market at the moment,"" one of the sources said.The sources did not quantify any increase, but said Saudi Arabia, the UAE and some other OPEC members possessed around 2.0-2.7 million bpd of spare production capacity.""The only time we can prove we have more spare capacity is when it comes to a long-lasting crisis,"" the source said, adding that would be when OPEC members would raise output.That could be as soon as this winter, the sources said, as the political and economic standoff between Russia, a member of OPEC+, and the West over Moscow's invasion of Ukraine show no sign of easing.The invasion, begun on Feb. 24, which Moscow terms a ""special military operation"" sent European gas prices to records and lifted international Brent crude to 14-year-highs.As a result, inflation has hit multi-decade highs and central banks have begun raising interest rates sharply.International oil prices have however fallen since the March peaks and dropped again on Wednesday after U.S. data indicated weak fuel demand - in part as high prices have limited consumption.Analysts said OPEC+ saw no logic in adding oil to a falling market.""With spare capacity below 2 mbpd (million barrels per day) in August, we believe OPEC+ preferred to keep their powder dry and use their buffer to address potential future disruptions,"" PVM's Tamas Varga said in a note.""There are growing fears of demand destruction and if the current trend continues, additional barrels would put unwanted downside pressure on prices and, at the same time, would unnecessarily deplete thinning spare capacity.""GOODWILL GESTUREAfter Biden visited Saudi Arabia in July to press for extra oil to cool international markets, analysts had speculated OPEC+ would increase supply.The Saudi trip was scheduled only after OPEC+ announced in early June that it would increase output in July and August. Wednesday’s meeting discussed output for September.Most OPEC+ members have struggled to meet production targets having already exhausted their output potential following years of under-investment in new capacity.In that context, Wednesday's decision to increase production targets by 100,000 bpd, one of the smallest increases since OPEC quotas were introduced in 1982, was a goodwill gesture, one of the sources said.""It is small, yes, but it shows that OPEC+, given the fact that it includes so many countries, like Russia, Iran, Venezuela with all their grievances, managed to garner consensus and move forward,"" the source said.Following Wednesday's decision, the White House said President Biden would remain focused on keeping fuel prices down.Register now for FREE unlimited access to Reuters.comReporting By Dmitry Zhdannikov in London and Maha El Dahan in Dubai; additional reporting by Rowena Edwards; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.","Exclusive: Saudi, UAE save oil firepower in case of winter supply crisis."
"A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu Wang//File PhotoRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - China's Alibaba Group Holding Ltd (9988.HK), on Thursday beat market expectations for revenue in the quarter ending late June, even though growth was flat for the first time ever due to the impact of COVID-19 lockdown.The e-commerce giant's U.S.- listed shares rose 5% in trading before the bell.China locked down dozens of cities between April and May as the infectious Omicron variant raged, with cities such as its largest and most cosmopolitan hub of Shanghai facing the harshest curbs that paralyzed intra and inter-city delivery.Register now for FREE unlimited access to Reuters.comIn Shanghai, for instance, households for nearly the whole of April were unable to place orders from Taobao or Ele.me, Alibaba's e-commerce and food delivery sites, and instead relied on the government and roundabout channels for food and supplies. The delivery situation only slightly eased in May.The lockdown lifted on June 1, just in time for China's annual June 18 shopping festival. However, the festival did little to boost overall business in the quarter.""Following a relatively slow April and May, we saw signs of recovery across our businesses in June. Despite near-term challenges, Taobao and Tmall continue to achieve high consumer retention, especially among consumers with higher spending power,"" the company said.Revenue stood at 205.56 billion yuan ($30.43 billion)in the quarter, compared to analysts' average expectation of 203.19 billion yuan, according to Refinitiv data.Net income attributable to ordinary shareholders for the quarter ended June 30 was 22.74 billion yuan, compared to 45.14 billion yuan, a year earlier.($1 = 6.7557 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.comReporting by Josh Horwitz and Tiyashi Datta in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.",Alibaba revenue beats despite flat growth due to COVID lockdown.
"World August 4, 2022 / 6:06 AM / AP The Sierra Leone-flagged cargo ship Razoni sails under Yavuz Sultan Selim Bridge after being inspected by Russian, Ukrainian, Turkish and U.N. officials at the entrance of the Bosphorus Strait in Istanbul, Turkey, Wednesday, Aug. 3, 2022. Emrah Gurel / AP The first grain ship to leave Ukraine and cross the Black Sea under a wartime deal passed inspection Wednesday in Istanbul and headed on to Lebanon. Ukraine said 17 other vessels were ""loaded and waiting permission to leave,"" but there was no word yet on when they could depart. A joint civilian inspection team spent three hours checking the cargo and crew of the Sierra Leone-flagged ship Razoni, which left Odesa on Monday carrying Ukrainian corn, a U.N. statement said.The Joint Coordination Center team included officials from Ukraine, Russia, Turkey and the United Nations, who signed deals last month to create safe Black Sea shipping corridors to export Ukraine's desperately needed agricultural products as Russia's war upon its neighbor grinds on. Ukraine is a major global grain supplier but the war had blocked most exports, so the July 22 deal aimed to ease food security around the globe. World food prices have been soaring in a crisis blamed on the war, supply chain problems and COVID-19. Although U.S. Secretary of State Antony Blinken called Razoni's journey a ""significant step,"" no other ships have left from Ukraine in the past 48 hours and no explanations have been given for that delay. A U.N. statement said inspectors ""gained valuable information"" from the Razoni's crew about its voyage through the Black Sea maritime humanitarian corridor and the coordination center was ""fine-tuning procedures."" The Turkish Ministry of National Defense tweeted a picture of an inspector reaching into the Razoni's hold and touching some of its 26,527 tons of corn for chicken feed. The Razoni's horn rang out as the inspectors left the ship, and then it headed off to Lebanon.The checks seek to ensure that outbound cargo ships carry only grain, fertilizer or food and not any other commodities, and that inbound ships are not carrying weapons. An estimated 20 million tons of grain — most of it said to be destined for livestock — has been stuck in Ukraine since the start of the 6-month-old war. Ukraine's top diplomat said Wednesday that more ships are ready to carry much-needed grain and food out of the country's Black Sea ports.""Further ships are already ready for departure. They will depart from the ports that are part of the grain initiative in accordance with the agreed schedule, and we hope that everything will work out and the Russian Federation will not take any steps that would destroy these agreements,"" Foreign Minister Dmytro Kuleba said at a joint press conference in Kyiv with his Estonian counterpart. Kuleba said the U.N.-backed deal ""is beneficial to Ukrainian farmers, it is beneficial to the Ukrainian economy, and it is beneficial to the world.""""It is now Ukraine that is, literally, saving the world from further growth in food prices and from hunger in individual countries,"" he said.Still, a Black Sea voyage entails significant risks because of the war. Two civilian ships hit explosive devices there last week near the Danube River's Bystre estuary, according to Bridget Diakun, a data reporter at Lloyd's List, a global shipping publication.Analysts say authorities' first priority is bringing out vessels that have been stuck for months at the three Ukrainian ports covered by the deal. Sixteen ships loaded with grain have been stuck at the ports of Odesa and Chernomorsk since Russia's invasion, according to Lloyd's List.The U.N. official who helped negotiate the Russian deal with the U.N. aimed at ensuring unrestricted access to world markets for the country's food and fertilizer says there are still obstacles to overcome.U.N. trade chief Rebeca Grynspan told a U.N. news conference Wednesday by video from Geneva that some obstacles Russia faces in terms of finance, insurance, shipping and transport of its grain and fertilizer have been clarified by the United States and European Union.But she said there is still a major bottleneck: getting the private sector to accept that the U.N.-Russia agreement will enable their companies to be involved in getting Russian grain and fertilizer shipped to global markets without the threat of sanctions. There are no U.S. or EU sanctions on food or fertilizer exports, but companies engaged in related fields have been reluctant to take part.Russia's war with Ukraine has had ""a chilling effect on the private sector,"" Grynspan said. ""So, an important part of the private sector has stopped their dealings in food and fertilizer.""Grynspan, the secretary-general of the United Nations Conference on Trade and Development, said some grain and fertilizer are being exported from Russia but at very high costs. She explained that half the increase in grain prices comes from increases in transport and logistics costs.""That is the pressure that we want to ease,"" she said.Grynspan said the U.S. and EU clarifications are being evaluated by the private sector ""as we speak."" Grain stockpiles are expected to keep growing. Despite the war, Ukrainian Prime Minister Denys Shmyhal estimated his country would harvest up to 67 million tons of grain this year, up from 60 million tons last year.A senior official from a leading Ukrainian farm association reckoned Ukraine would have about 50 million tons of grain for export this year. Before the war, Ukraine exported around 5-6 million tons of grain per month, according to Denys Marchuk, the deputy head of the All-Ukrainian Agrarian Council. In: Antony Blinken War Economy Turkey Agriculture Ukraine Russia United Nations Volodymyr Zelenskyy Prisoner of War European Union Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",First Ukraine grain ship passes inspection in Turkey and heads to Lebanon.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesQ1 operating profit 578.66 bln yen vs 997.4 bln yen year-agoSlammed by global chip shortage, COVID curbs in ChinaSticks to FY profit, output forecasts citing strong demandRaises FY materials costs estimate by 17%; shares drop 3%TOKYO, Aug 4 (Reuters) - Toyota Motor Corp's (7203.T) profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs.Operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year ago, Toyota said on Thursday, capping a tough period. It has repeatedly cut monthly output goals due to the global chip shortage and COVID-19 curbs on plants in China.The scale of the earnings hit was far beyond expectations - analysts polled by Refinitiv had estimated a 15% drop - and appeared to catch investors by surprise. Shares of Toyota, the world's biggest automaker by sales, extended losses, sliding 3%.Register now for FREE unlimited access to Reuters.com""It's extremely bad,"" said Koichi Sugimoto, an analyst at the Mitsubishi UFJ Morgan Stanley Securities.While production snarls had already been flagged by the automaker, Sugimoto said some of the higher costs stood out.The automaker said rising material prices cost it 315 billion yen.Despite the grim quarter, the automaker stuck to its forecast for full-year operating profit and a plan to produce 9.7 million vehicles this fiscal year, citing what it said was strong residual demand.A Toyota spokesperson said the car company would be able to procure the chips that had hampered production and expected staffing shortages at some domestic factories due to COVID-19 outbreaks to be resolved.Production would pick up towards the second half of the financial year, the spokesperson said.Sugimoto, the analyst, said supply problems looked likely to improve thanks to an easing in both the global chips shortage and the COVID-19 situation in China.The Toyota emblem is seen on the tyre rim of a vehicle during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge SilvaLike other auto manufacturers, Toyota is grappling with higher costs and fears that global inflation could put the brakes on consumer demand.Toyota lifted its full-year net profit outlook by 4% to 2.36 trillion yen, helped by the weakness of the yen, which means sales booked in overseas currencies become more valuable.Still, the boost from the weaker yen was not sufficient to fully offset the impact from rising material costs, said Seiji Sugiura, senior analyst at Tokai Tokyo Research Institute.Toyota expects material costs for the full year to increase by 17% to 1.7 trillion yen from its previous estimate - the majority of that from the rising prices of steel and aluminium.Toyota's current production woes mark a departure from its initial success in navigating supply chain problems in the early stages of the pandemic.The carmaker cut its monthly production targets three times during the April-June quarter, falling 10% behind its initial goals, due to shortages of semiconductors and the impact of COVID-19 lockdowns in China. read more ""We were not able to produce enough, with customers globally waiting for their vehicles to be delivered,"" the Toyota spokesperson said.Toyota shares, which were down 0.5% just before the release of the earnings, closed down 3% at 2,091 yen, while the benchmark Nikkei 225 index (.N225) was slightly firmer.Toyota's Japanese rival Honda Motor Co (7267.T) is set to report its first-quarter earnings next week.($1 = 133.7200 yen)Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama; Additional reporting by Noriyuki Hirata; Editing by Kenneth Maxwell, David Dolan and Tom HogueOur Standards: The Thomson Reuters Trust Principles.","Hit by rising costs and supply snarls, Toyota profit tumbles 42%."
"Register now for FREE unlimited access to Reuters.comTHAI NGUYEN, Vietnam, Aug 4 (Reuters) - Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending.America's largest warehouse market is full and major U.S. retailers such as Best Buy (BBY.N) and Target Corp (TGT.N) warn of slowing sales as shoppers tighten their belts after early COVID-era spending binges. read more The effect is acutely felt in Vietnam's northern province of Thai Nguyen, one of Samsung's (005930.KS) two mobile manufacturing bases in the country where the world's largest smartphone vendor churns out half of its phone output, according to the Vietnam government.Register now for FREE unlimited access to Reuters.comUS business inventories climb on restocking, slower consumer spendingSamsung, which shipped around 270 million smartphones in 2021, says the campus has the capacity to make around 100 million devices a year, according to its website.""We are going to work just three days per week, some lines are adjusting to a four-day workweek instead of six before, and of course no overtime is needed,"" Pham Thi Thuong, a 28-year-old worker at the plant told Reuters.""Business activities were even more robust during this time last year when the COVID-19 outbreak was at its peak. It's so tepid now.""Reuters could not immediately establish whether Samsung is shifting production to other manufacturing bases to make up for reduced output from the Vietnamese factory. The company also makes phones in South Korea and India.Samsung told Reuters it has not discussed reducing its annual production target in Vietnam.The South Korean tech giant is relatively optimistic about smartphone demand in the second half, saying on its earnings call last week that supply disruptions had mostly been resolved and that demand would either stay flat or even see single-digit growth. read more It is aiming for foldable phone sales to surpass that of its past flagship smartphone, the Galaxy Note, in the second half. It is expected to unveil its latest foldables on Aug. 10.But a dozen workers interviewed by Reuters outside the factory almost all said business is not good.Employees make their way to work at the Samsung factory in Thai Nguyen province, north of Hanoi, Vietnam October 13, 2016. REUTERS/KhamThuong and her friends who have been working for Samsung for around five years said they had never seen deeper production cuts.""Of course there is a low season every year, often around June-July, but low means no OT (overtime), not workday cuts like this,"" Thuong said.She said managers had told workers inventories were high and there were not many new orders.Research firm Gartner expects global smartphone shipments to decline by 6% this year due to consumer spending cuts and a sharp sales drop in China.SAMSUNG TOWNSamsung is Vietnam's biggest foreign investor and exporter, with six factories across the country, from northern industrial hubs Thai Nguyen and Bac Ninh where most phones and parts are manufactured, to Ho Chi Minh City's plant making fridges and washing machines.The South Korean company has poured $18 billion into Vietnam, powering the country's economic growth. Samsung alone contributes one fifth of Vietnam's total exports.Its arrival nearly a decade ago in Thai Nguyen, about 65 km (40 miles) from the capital Hanoi, transformed the area from a sleepy farming district into a sprawling industrial hub that now also manufactures phones for Chinese brands including Xiaomi Corp (1810.HK).Generous benefits including subsidised or free meals and accommodation have lured tens of thousands of young workers to the region, but reduced workhours have now left many feeling the pinch.""My salary was cut by half last month because I just worked four days and spent the remaining week doing nothing,"" said worker Nguyen Thi Tuoi.Job cuts are on some workers' minds but so far none have been announced.""I don’t think there will be job cuts, just some working hour cuts to suit the current global situation,"" said one worker, declining to be named because she did not want to risk her team leader role.""I do hope that the current cut will not last long and we will soon be back to normal pace.""Register now for FREE unlimited access to Reuters.comAdditional reporting by Khanh Vu in Hanoi and Joyce Lee in Seoul; Editing by Miyoung Kim and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Samsung workers in Vietnam bear brunt of slowdown in global demand for electronics.
"New evidence shows how Myanmar's military planned its brutal purge of the Rohingya War crimes investigators have obtained thousands of documents that shed new light on planning around the expulsion of the country’s Muslim minority, as well as efforts to hide military operations from the world. The group that amassed the document cache, which it shared with Reuters, is already handing its material to prosecutors in the Hague. A Reuters Special ReportNew evidence shows how Myanmar’s military planned its brutal purge of the Rohingya “National project”An official document from 2014, three years before the Rohingya were expelled, refers to plans for their removal “Clearance operations”A term used by senior Burmese commanders in military campaigns against the Muslim Rohingya minority “Similar facial resemblance”An official record posited that Burmese authorities may have struggled to police the Rohingya because many of them looked alike War crimes investigators have obtained thousands of pages of documents that shed new light on Myanmar’s campaign to expel the country’s Muslim minority, as well as efforts to hide it from the world. The group that collected the documents, many of which it shared with Reuters, is already handing its material to prosecutors in the Hague. By POPPY MCPHERSON and WA LONE Filed: 4 August, 2022, 11 a.m. GMT In mid-2017, in a remote area of Myanmar, senior Burmese military commanders held secret talks about operations against the minority Rohingya Muslim population. They discussed ways to insert spies into Rohingya villages, resolved to demolish Muslim homes and mosques, and laid plans for what they clinically referred to as “area clearance.” The discussions are captured in official records seen by Reuters. At one meeting, commanders repeatedly used a racial slur for the Rohingya suggesting they are foreign interlopers: The “Bengalis,” one said, had become “too daring.” In another meeting, an officer said the Rohingya had grown too numerous. The commanders agreed to carefully coordinate communications so the army could move “instantly during the crucial time.” It was critical, they said, that operations be “unnoticeable” to protect the military’s image in the international community. Weeks later, the Myanmar military began a brutal crackdown that sent more than 700,000 Rohingya fleeing to Bangladesh. Ever since, the military has insisted the operation was a legitimate counter-terrorism campaign sparked by attacks by Muslim militants, not a planned program of ethnic cleansing. The country’s civilian leader at the time, Nobel Peace Prize laureate Aung San Suu Kyi, dismissed much of the criticism of the military, saying refugees may have exaggerated abuses and condemnations of the security forces were based on “unsubstantiated narratives.” But official records from the period ahead of and during the expulsion of the Rohingya, like the ones in 2017, paint a different picture. The records are part of a cache of documents, collected by war crimes investigators and reviewed by Reuters, that reveal discussions and planning around the purges of the Rohingya population and efforts to hide military operations from the international community. The documents show how the military systematically demonized the Muslim minority, created militias that would ultimately take part in operations against the Rohingya, and coordinated their actions with ultranationalist Buddhist monks. For the past four years, these war crimes investigators have been working secretly to compile evidence they hope can be used to secure convictions in an international criminal court. Documents spanning the period 2013 to 2018 give unprecedented insight into the persecution and purge of the Rohingya from the perspective of the Burmese authorities, especially two “clearance operations” in 2016 and 2017 that expelled about 800,000 people. The documents were collected by the Commission for International Justice and Accountability (CIJA), a nonprofit founded by a veteran war crimes investigator and staffed by international criminal lawyers who have worked in Bosnia, Rwanda and Cambodia. Beginning work in 2018, CIJA amassed some 25,000 pages of official documents, many related to the expulsion of the Rohingya, who since fleeing their homes have been languishing in squalid refugee camps in Bangladesh with little hope of returning. Some of the documents relate to military actions against other ethnic groups in Myanmar’s borderlands. The group’s work has been funded by Western governments. CIJA allowed Reuters to review many of the documents, which include internal military memos, chain-of-command lists, training manuals, policy papers and audiovisual materials. Some documents contained redactions, which the group said were necessary to protect sources. The organization also asked Reuters not to disclose the location of its office for security reasons. The documents do not contain orders explicitly telling soldiers to commit murder or rape – such smoking-gun records are rare in the field of international justice. But key in the CIJA cache is the evidence of planning, said Stephen Rapp, a former U.S. ambassador-at-large for war crimes issues who now sits on CIJA’s board. “Everything in it points to this intention to engage in this kind of mass removal process,” he said. Through interviews with former Burmese soldiers, Rohingya and Rakhine civilians and ex-government officials, and a review of social media and official statements, Reuters was able to independently corroborate many details in the documents. (See related story.) Myanmar’s military junta didn’t respond to questions from Reuters. The cache illustrates the obsession authorities had with reducing a population they viewed as an existential threat. In a private meeting with officials in Rakhine, which CIJA said was held around the time of the 2017 expulsion, the then-army chief and current junta leader, Min Aung Hlaing, told the Buddhist population to remain in place, and pointed to a demographic imbalance between Rohingya and the rest of the Rakhine population, the documents show. Some of the officers who spearheaded the Rohingya expulsion and whose names appear in the documents have since been promoted. Rohingya, who are mostly Muslim, trace their roots in Myanmar’s Rakhine area back centuries, a reading of history supported by independent scholars. While they now comprise a slim majority in the north of Rakhine state, they are a minority overall compared to the ethnic Rakhine, a mostly Buddhist group. Nationalists from the country’s Buddhist majority see the Rohingya as illegitimate migrants from neighboring Bangladesh. The August 2017 pogrom was carried out with a ferocity that stunned the world. Refugees described massacres, gang rapes and children thrown into raging fires. The nonprofit Médecins Sans Frontières estimated at least 10,000 people died. Hundreds of Rohingya villages were burned to the ground. In March this year, the United States formally declared that the military’s actions amounted to genocide. Many in Myanmar, where about 90% of people are Buddhist, supported the military, which denied committing atrocities and said the Rohingya had burned their own homes. Burmese rallied around Suu Kyi, whose political party came to power in 2015 after half a century of military rule, as she dismissed reports of atrocities as an “iceberg of misinformation.” In 2019, she went to the Hague to defend Myanmar against charges of genocide at the International Court of Justice (ICJ). But the military early last year toppled the democratically elected government under Suu Kyi, who has been detained since her overthrow. The coup has altered views in Myanmar and opened an unexpected window on the 2017 atrocities. After the military seized control, the country plunged into worsening civil war, as new armed resistance groups joined forces with existing ethnic armed actors in an effort to topple the junta. More than 2,000 civilians have been killed by the army, according to the rights group Assistance Association for Political Prisoners. The public outrage over the coup and the killings has led to mass defections in the military. Some soldiers are now shedding light on the army’s practices for the first time. One soldier, Captain Nay Myo Thet, told Reuters he was in Rakhine in 2017, where he said he was involved in logistical support, including transport and supplies, for the military. He described the looting of Rohingya villages after they were emptied. Soldiers took cattle, furniture and solar panels the Rohingya used to power their homes. Large items were loaded onto trucks, under the watch of a senior officer, he said. He was tasked with catching three goats belonging to Rohingya for a dinner party for the troops, he said. Nay Myo Thet said he deserted in November and fled to a neighboring country. While the Burmese military faces grave allegations under international law, there is no easy road to convictions. Myanmar hasn’t signed the Rome Statute that created the International Criminal Court (ICC), which has the power to try individual perpetrators for international crimes. As a result, the United Nations Security Council would typically have to refer allegations against Myanmar to the ICC. Such a move would likely be blocked by allies of Myanmar, say international law experts. But other paths to trial exist. The ICC set a legal precedent in 2019 by allowing its chief prosecutor to begin investigating crimes against the Rohingya population, including deportation, because they fled to Bangladesh, which is a party to the court. Also in 2019, majority-Muslim Gambia brought a case against Myanmar for genocide at the ICJ, on behalf of the 57 member states of the Organization of Islamic Cooperation. In July, the court cleared the case to proceed, rejecting objections filed by Myanmar. The non-profit Burmese Rohingya Organisation UK also filed a lawsuit against both Min Aung Hlaing and Suu Kyi in Argentina under “universal jurisdiction,” a legal principle that allows brutal acts to be tried in any court in the world. A spokesman for Suu Kyi’s party said at the time that such a case would violate Myanmar’s national sovereignty. Legal experts say the chances senior military leaders will be tried soon are slim. They rarely leave Myanmar, and then only to friendly nations like Russia and China, which aren’t parties to the ICC. Min Aung Hlaing didn’t respond to questions sent to the military junta. Reuters was unable to contact Suu Kyi, who in June was moved from an undisclosed location where she had been held to solitary confinement in a prison in the capital Naypyitaw, the junta said. A spokesman for the newly formed civilian parallel government, which includes members of the former democratically elected administration who have escaped arrest, said it was their view that the Rohingya “were the victims of genocide.” It was of “dire importance,” the spokesman added, that the evidence of atrocities be presented to the ICJ. CIJA has had success securing some convictions in tough environments. In Syria and Iraq, its investigators smuggled out more than a million pages of documents that implicated insiders from the Bashar al-Assad regime and Islamic State. The documents formed the basis of convictions in Germany and the Netherlands, including of a former Syrian regime member and an Islamic State militant, who are both now in prison. CIJA has begun handing its Myanmar material to prosecutors in the Hague. The organization says the records implicate more than a dozen Burmese officials, most in the military. CIJA asked Reuters not to publish most of their names to ensure any future legal proceedings aren’t jeopardized. Bill Wiley, the Canadian founder and director of CIJA, says he is confident the Myanmar material will help with prosecutions. “If anyone’s ultimately convicted of genocide, it’s going to be based on the CIJA-collected materials,” he told Reuters. Wiley, a veteran of the Rwanda and Yugoslavia war crimes tribunals, is a former Canadian military officer. In his office, cloaked in a cloud of cigar smoke, Wiley, who is 58, recalled being contacted by Canadian officials at the height of the Rohingya exodus. The foreign minister at the time and current deputy prime minister, Chrystia Freeland, set up a working group of people from different government departments to tackle the crisis, he said. The brief was to “do something,” Wiley said. Because Canada helped fund CIJA in Iraq and Syria, the group asked him if he could replicate the model in Myanmar. Freeland’s office confirmed the account but declined to comment further. This time, though, different methods were needed. In the early days of the Syrian uprising, CIJA had its investigators follow anti-Assad rebels as they took over government outposts. Their goal was to sweep up documents left behind by defeated forces. In Myanmar, though ethnic rebels were battling the military, such opportunities were few because the rebels weren’t taking control of large swathes of territory. The focus was on working with insiders willing to leak information and documents. The Rohingya have long faced crushing discrimination and have had their citizenship rights stripped away. In the 1990s, authorities stopped issuing birth certificates for their children. Rohingya were forced to seek permits to marry or leave their villages. They had restricted access to university and were barred from holding government jobs. They were banned from having children out of wedlock, and married couples were barred from having more than two children. The CIJA documents provide a snapshot of this bureaucracy of repression, including the creation in 2013 of a new Border Guard Police, a force charged with preventing “the dominance of Indians and Bengalis.” This new force was to be given upgraded weapons and vehicles to prevent immigration and implement “response plans in times of crisis,” according to a 2014 document from a military-controlled department. The border police were also to enforce “population control activities” against the Rohingya and conduct an educational campaign that would “increase public knowledge about the danger of migration movement of Indians and Bengalis.” The 2014 document emphasized the role of militias in various villages populated by taingyintha, members of officially recognized ethnic groups in Myanmar. These militias would serve as “the pillars for providing security to local ethnic people and the prevention of illegal immigration.” The document advocates for a “national project” that would push “Bengalis” who want to avoid inspection by the authorities to leave the country. It calls for a campaign resembling an operation in 1977 that drove out hundreds of thousands of Muslims. Such an operation “should be implemented as before, when the rise of ethnic mixing is detected,” the document says. “Everything in it points to this intention to engage in this kind of mass removal process.” An opportunity to implement these plans presented itself in the early hours of October 9, 2016. A group of Rohingya overran several border guard posts in northern Rakhine state, killing nine police officers. The army sealed off the area and began hunting the attackers. Nay Myo Thet, the soldier who deserted, said he and others in his battalion were told they were conducting “clearance operations” in Rakhine. But their superiors didn’t give specific orders of what to clear. They should have given the soldiers a target – “who was the leader, who were the followers, which weapons they had,” he said. The military cleared out entire populations, he added. For months, security forces pillaged and burned villages across the north of Rakhine, according to human rights groups and the United Nations, which said about 70,000 Rohingya fled to Bangladesh in that purge. Security forces carried out killings and gang rape, according to a UN report. In February 2017, the military declared the operations over. But hostility towards the Rohingya continued. In July 2017, a group met in private to discuss operations in Rakhine, one record shows. Those present included Maung Maung Soe, the head of the Western Command, which had overseen the previous year’s crackdown, and Thura San Lwin, the head of the Border Guard Police. There were also commanders from the Military Operation Command-15 division and several local administrators. One senior official said that at least 50% of the Rohingya population supported terrorism. A senior member of the security forces said Muslim villages were providing “protection” to militants. Maung Maung Soe expressed frustration about the intelligence-gathering capabilities of the security forces in Muslim villages. A MOC-15 commander spoke about recruiting “kalars as spies and underlings” to obtain the latest news. “Kalar” is another racial slur for Muslims. In the end, the group agreed to send health workers to villages to gather “valuable information.” They also determined that the army’s actions needed to be concealed from the outside world. Thura San Lwin and Maung Maung Soe didn’t respond to questions sent to the military junta. At another meeting in August between a MOC-15 commander and local administrators, the commander complained there were too many Muslims living near a military detachment. The majority of “Bengali” villages had been “trained for terrorism,” the group concluded. They resolved to demolish their homes and mosques, according to one record. Around this time, according to another record, national and state-level officials visited a group of ultranationalist Buddhist monks in northern Rakhine state, who told them “illegal migrant Bengalis” were killing ethnic people to occupy the region. One of the monks said action needed to be taken. Thura San Lwin, the border guard police chief, told the monks that forces were deployed for patrols and would carry out “area clearance” in cooperation with the military, according to the document. He didn’t specify where the clearance would take place. The officials urged the monks and other locals to cooperate with the security forces and share information. By mid-August 2017, hundreds of troops had been flown into northern Rakhine, including two elite Light Infantry Divisions, the 33rd and 99th. The military said publicly it was trying to stabilize the situation there and that Muslim attackers had killed both Rakhine and Muslim villagers. Reuters couldn’t confirm this. In the early hours of August 25, some 30 police posts were attacked by Rohingya men across the north of Rakhine state, killing 12 members of the security forces, authorities said. The men were largely untrained and carrying mostly sticks, knives and homemade bombs, according to the UN. A group called the Arakan Rohingya Salvation Army (ARSA), which said it was seeking political rights for Rohingya, claimed responsibility for the attacks. ARSA didn’t respond to a request for comment. Nay Myo Thet and another member of the security forces told Reuters they were surprised by the army’s disproportionate response to what they said were small and poorly organized attacks compared with insurgencies conducted by well-equipped militias in other parts of the country. A log of army activities compiled by military authorities and obtained by CIJA records 18 attacks that morning by “Bengali insurgents,” starting with several explosions from handmade bombs. The log doesn’t record the deaths of any members of the security forces, though it does say militants killed Rohingya informers and several Rakhine civilians. The next morning, the burning of Rohingya villages began. The log describes “arson attacks” in the Rakhine township of Maungdaw, with lists of houses, shops, mosques and Arabic language schools destroyed. Hundreds of houses are recorded as burned after “a fire broke out.” The arson continued for weeks. More than 7,000 structures are recorded in the log as having been burned to the ground between August 25 and mid-September. Sometimes the arson is ascribed to “Bengali insurgents.” Sometimes no perpetrator is listed. Moe Yan Naing, a police captain who was stationed in Rakhine, told Reuters there were no attacks by ARSA after August 25, but his superiors ordered him and his colleagues to burn villages. There were many dead bodies in the villages, said Moe Yan Naing. “The troops shot into the village before entering,” he said, referring to the village of Inn Din, where Reuters uncovered a massacre of civilians. “They shot and killed whoever they found in the village.” Moe Yan Naing was the police captain who testified in the 2018 trial of Reuters journalists Wa Lone and Kyaw Soe Oo, who were arrested after they uncovered the killings in Inn Din and spent 511 days behind bars. Moe Yan Naing undercut the official narrative in court, saying that the two reporters had been set up by the authorities. He fled the country after the coup, fearing arrest by junta forces. Approximately 392 villages were either partly or completely destroyed, largely by fire, according to UN investigators, who blamed the arson on the Myanmar security forces and local Rakhine residents. This amounted to 40% of all villages in northern Rakhine state. Army chief Min Aung Hlaing traveled to northern Rakhine around the time of the expulsion of the Rohingya, CIJA said. A CIJA document records previously unreported comments he made to officials in Rakhine during his trip. He ordered non-Rohingya locals to remain in their homes “instead of leaving,” referring to a large discrepancy in population size between Muslims and other ethnic groups in Rakhine. He told the audience he understood they “do not want to keep Bengali villages near.” During the expulsion of the Rohingya, troops were given instructions to delete photos that might be incriminating, said Nay Myo Thet. He and Moe Yan Naing, the former police captain, said security force members placed machetes beside the bodies of dead Rohingya and took photographs so it would look like they were insurgents. Sensitive orders from senior commanders were given by phone rather than in writing, said Nay Myo Thet. Documents in the CIJA cache show how the military feared international retribution over the Rakhine operation. A 2018 presentation that CIJA said was shown in officer training sessions assessed the possibility of foreign intervention triggered by an invocation of the UN’s “Responsibility to Protect” doctrine. R2P, as it’s known, has been used to support international intervention in countries where rulers are committing atrocities. One of the documents in the CIJA cache deals with the likelihood of foreign intervention in Myanmar over the expulsion of the Rohingya. It is titled “The R2P (Responsibility to protect) and Myanmar’s politics” If R2P come in Myanmar The country will become a failed state The document raises some points for discussion: Difficulty to counter their (Rohingya) narratives and stories that appear on Google and social media due to their (the Rohingya’s) extensive financial and technology resources Various developments: preparation by the EU for sanctions; a Myanmar representative was not allowed to join “The Berlin Conference on Myanmar Genocide”; the American ambassador based in Yangon stating that Myanmar’s security forces committed ethnic cleansing Whether R2P could be triggered Perspective of Myanmar political observers: Despite pressure from the UN and international community on the military regarding the issues in northern Rakhine and demands on the Myanmar government to accept Bengali refugees, there is no likelihood of R2P being triggered and violating Myanmar’s sovereignty. The government’s effort (to prevent R2P) Negotiated with Bangladesh’s government multiple times to take back the displaced people Acting on the recommendations of the Advisory Commission on Rakhine State led by Dr. Kofi Annan, humanitarian support and resettlement in Rakhine state, and implementation of development projects Conclusion Excessive pressure could harm the sovereignty and territorial integrity of the country The strategic game of the government: Give and take with China, prevention by diplomacy The document also points to the actions of other states: The United States: Anti-terrorism campaigns in the Middle East; blaming Myanmar for the Rakhine conflict to win support from the Muslim world England: Left the EU in fear of accepting refugees If R2P comes to Myanmar, the country will become “a failed state,” reads one slide. The presentation concluded that international uproar over the military operation was creating “excessive pressure” and that could “harm the sovereignty and territorial integrity of the country.” A 2018 internal report by military authorities that assessed the Rakhine operation said the Rohingya had been “eager to take over” northern Rakhine. Muslim religious scholars in Myanmar, the report said, were trying to implement a plan for the world to become Islamic in the 21st century and were “recklessly” accelerating birth rates to increase the Muslim population. The authorities, it said, may have had trouble policing in Rakhine because “many Bengalis have similar facial resemblance with each other.” The report points to democratic reforms in the country as having emboldened the Rohingya. Control over “extremist Bengalis” had weakened, the report said, when two Rohingya became members of parliament after power was transferred to a semi-civilian government following an election in 2010. One of the two MPs, Shwe Maung, who had been critical of the authorities’ treatment of the Rohingya, has been in the United States since 2015 for fear of being arrested if he returns to Myanmar. His advocacy for the Rohingya in parliament had made him “a target,” he told Reuters. Rohingya weren’t allowed to vote in the election that brought Suu Kyi to power in 2015, and Shwe Maung was barred from running. Since the purge in Rakhine, some people named in the CIJA documents have been promoted. Among them is the former head of the 33rd Light Infantry Division, Aung Aung, who was promoted to head the Southwestern Command, according to local media. Border Guard Police chief Thura San Lwin was transferred to a top police post in the capital Naypyitaw, according to local reports. Aung Aung didn’t respond to questions from Reuters. A United Nations body also has been gathering evidence about the military’s actions in Rakhine, and since the coup has expanded its work to cover the junta’s actions. In March, the UN said the army’s actions since seizing power – including extrajudicial killings, air strikes and arson in populated areas – could amount to war crimes and crimes against humanity. CIJA wound down its Myanmar fact-finding operation in late April. Wiley said international criminal justice is a “long game,” but he believes CIJA has amassed “really good evidence.” “We get convictions,” he added. “The challenge is arrests.” Additional reporting by Michelle Nichols in New York, Steve Scherer in Ottawa and A S M Suza Uddin. Planned Purge By Poppy McPherson and Wa Lone Graphics: Aditi Bhandari Photo editing: Edgar Su Art direction: Catherine Tai Edited by Peter Hirschberg Follow Reuters Investigates",New evidence shows how Myanmar's military planned the Rohingya purge.
"The headquarters of Germany's Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 4 (Reuters Breakingviews) - Investment banks are pondering how to fight off private credit, the $1.2 trillion industry that’s displacing them in the lucrative business of funding buyouts. Yet the ideas floated by JPMorgan, Deutsche Bank (DBKGn.DE) and others bring fresh challenges.Direct lenders, often run by asset management groups such as Blackstone (BX.N) and Apollo Global Management (APO.N), are kicking banks off big leveraged-buyout deals. Thoma Bravo’s $10.7 billion Anaplan purchase is one example. Borrowers appreciate the certainty of using such vehicles, which typically keep the loans for life. Investment banks, by contrast, need to sell loans on to pension funds and asset managers, and can jack up interest rates during the syndication process if debt markets are choppy. There’s much to lose: banks earned $7 billion in leveraged-loan fees in the first half of 2022, according to Refinitiv.Bankers are experimenting with several responses. JPMorgan is making loans and holding them to maturity rather than trying to sell them, the Financial Times reported. That allows lenders to offer fixed rates to borrowers. Second, others like Deutsche and Credit Suisse (CSGN.S) are raising their own private-credit funds to collect asset-management fees.Register now for FREE unlimited access to Reuters.comJPMorgan’s approach is essentially a return to traditional bank lending. But it ties up balance-sheet capital for the life of a loan. By contrast, the current norm of selling the debt allows banks to recycle capital several times a year and on average collect a 1% fee each time, based on Refinitiv data, boosting returns. Meanwhile shareholders and regulators may worry about a bank’s exposure to risky lending the longer a loan stays on balance sheet.Raising a fund, as Deutsche Bank and Credit Suisse are doing, at least leaves the risk with third party investors. And it’s not new: Goldman Sachs’s asset management arm, for example, does private credit. But some banks may struggle to stand out in a crowded field. Giants like Apollo, whose credit arm manages $373 billion, will be hard to catch. There were about 1,000 private debt funds raising money in late June, according to Preqin.True, banks don’t always have to compete with private credit. They can make money lending to funds, or even underwriting large private deals that need several funds. The main cause for hope, however, is that private credit managers may be getting over their skis. Almost two-fifths of direct lenders would fund borrowers with debt levels exceeding an eye-watering 7.5 times EBITDA, according to a recent survey. There’s a risk that insurers or pension groups that invest in private-credit funds pull back when defaults pick up. That would take the heat off investment bankers.(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)Follow @liamwardproud on TwitterCONTEXT NEWSJPMorgan’s investment bank has set up a unit to make leveraged loans and hold them to maturity, the Financial Times reported on July 20. The plan is intended to counter the threat from private-credit funds run by groups like Ares Capital Management and Apollo Global Management.Deutsche Bank is considering raising a private credit fund, Bloomberg reported on June 2.Credit Suisse on July 13 said its asset-management arm had raised a $1.7 billion private-credit fund.Register now for FREE unlimited access to Reuters.comEditing by Neil Unmack and Streisand NetoOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Banks' private-credit fightback may underwhelm.
"David Zaslav arrives for the Time 100 Gala celebrating Time magazine's 100 most influential people people in the world in New York, U.S., June 8, 2022. REUTERS/Caitlin OchsRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Warner Bros Discovery Inc (WBD.O) is expected to discuss the new streaming strategy for the merged company on Thursday when it reports second-quarter earnings, four sources familiar with the plans told Reuters.The company is likely to provide additional details about its plans to bring together the HBO Max service's collection of dramas, comedies, movies with the reality programs of Discovery+. The pricing and the name for the new streaming service are still being debated internally, according to two sources familiar with the discussions. The name and the pricing are unlikely to be announced on Thursday.Warner Bros Discovery also is considering free, ad-supported services that would exist alongside its subscription service, though no announcement is planned. One source said among the ideas being discussed is a service built on Warner Bros' library of classic movies, which currently attract little notice inside HBO Max.Register now for FREE unlimited access to Reuters.comThe plans are the culmination of CEO David Zaslav and his team's examination of WarnerMedia's film, television, digital and gaming businesses since the deal closed on April 8. The executives were seeking to understand how these units work and how best to combine WarnerMedia's operations with those of Discovery, said one executive familiar with the process.Areas of overlap - such as the unscripted television unit behind such HBO Max reality shows as ""FBoy Island"" and ""The Hype"" - are likely to be eliminated, given Discovery's strength in the television genre, said the executive, who spoke on condition of anonymity.Layoffs are expected in the coming months, two of the sources said, as Zaslav looks to cut costs and deliver the $3 billion in savings he promised investors once the merger closed.The company's famously frugal CEO, David Zaslav, also has evaluated executive compensation and put talent pacts under a microscope. One such deal that received scrutiny was the $250 million agreement WarnerMedia struck in 2019 to become the exclusive home of filmmaker J.J. Abrams and his production company, Bad Robot. It walked away from ""Demimonde,"" a science fiction series for HBO with an estimated $200 million budget.For help in evaluating its motion picture business, Zaslav hired former Warner Bros studio president Alan Horn, who oversaw the ""Harry Potter"" and ""Lord of the Rings"" franchises, as a consultant to help shape strategy.Warner Bros Discovery is pivoting away form expensive, direct-to-streaming movies like ""Batgirl,"" a $90 million movie based on the DC Comics character and featured ""In the Heights"" star Leslie Grace and Michael Keaton as Batman.The film was scheduled for HBO Max later this year. But the studio scrapped the film after negative feedback from test screenings suggested it needed more work - an added expense the studio was unwilling to incur, according to one source with knowledge of the decision.In the future, big-budget movies will enjoy a traditional theatrical run before reaching the streaming service, said one person familiar with Zaslav's thinking, marking a big change from the previous regime.Analysts expect Warner Bros Discovery to report second- quarter revenue of $11.84 billion and per-share earnings of 1 cent, according to Refinitiv data.Register now for FREE unlimited access to Reuters.comReporting by Dawn Chmielewski in Los Angeles; Editing by Kenneth Li, Matthew Lewis and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Warner Bros Discovery expected to unveil new streaming strategy.
"Crime August 4, 2022 / 6:05 AM / CBS/AP Targeted killings of Mexican journalists Growing public outrage in Mexico as journalists are targeted and killed 04:43 A journalist was among four people killed inside a bar in central Mexico, becoming at least the 13th media worker killed in the country this year.San Luis de la Paz Mayor Luis Sánchez said Ernesto Méndez, director of the news site Tu Voz, or Your Voice, was with four other men when they were attacked. The fifth person was seriously wounded and taken to a hospital, he said.Guanajuato Gov. Diego Rodríguez Vallejo ""strongly condemned"" the Tuesday night killings via Twitter Wednesday. Sánchez said that at this point it was unknown whether the attack was related to Méndez's journalistic work, his role as representative of local businesses in the planning of an upcoming fair or something else.Press freedom organization Article 19 called on the government to offer protection to Méndez's colleagues and relatives. ⚠️ ARTICLE 19 conoce del asesinato de Ernesto Méndez, director del medio “Tú Voz,” ocurrido ayer alrededor de las 23 hrs en San Luis de la Paz, #GuanajuatoEl crimen se perpetró cuando un comando armando irrumpió en un bar propiedad de la familia de Méndez📸: Zona Franca pic.twitter.com/FekBVdSNpT— ARTICLE 19 MX-CA (@article19mex) August 3, 2022 Méndez had also worked until three years ago at the news site Zona Franca, according to its director Carmen Martínez. Zona Franca said that he had received threats in the past, AFP reported. It said he was celebrating with family and friends when a bar his family owned was attacked.It was not immediately clear whether Méndez was enrolled in the federal government's protection program for journalists and human rights defenders under threat.While organized crime is often involved in journalist killings, small town officials or politicians with political or criminal motivations are often suspects as well. Journalists running small news outlets in Mexico's interior are easy targets.Guanajuato, a thriving industrial region, has become one of Mexico's most violent states due to turf wars between rival gangs fighting for control of trafficking routes for drugs and stolen fuel. Other Mexican journalists killed in 2022In June, journalist Antonio de la Cruz was shot to death in northeastern Mexico as he was leaving his house with his 23-year-old daughter. His daughter later died from wounds suffered in the attack that killed her fatherIn May, two colleagues at a news site were shot to death in the Gulf coast state of Veracruz. The Veracruz State Prosecutor's Office said it was investigating the killings of Yessenia Mollinedo Falconi and Sheila Johana García Olivera, the director and a reporter, respectively, of the online news site El Veraz in Cosoleacaque.In March, prosecutors in the western state of Michoacan said reporter Armando Linares was shot to death at a home in the town of Zitacuaro. His killing came six weeks after the slaying of a colleague, Roberto Toledo, from the same outlet, Monitor Michoacan. It was Linares who announced Toledo's death Jan. 31 in a video posted to social media.In early March, gunmen killed Juan Carlos Muñiz, who covered crime for the online news site Testigo Minero in the state of Zacatecas.Jorge Camero, the director of an online news site who was until recently a municipal worker in the northern state of Sonora, was killed in late February.In early February, Heber López, director of the online news site Noticias Web, was shot to death in the southern state of Oaxaca.Reporter Lourdes Maldonado López was found shot to death inside her car in Tijuana on Jan. 23. In a news conference in 2019, Maldonado Lopez told Mexico's president she feared for her life. Reporter José Luis Gamboa was killed in the Gulf coast state of Veracruz on Jan. 10Crime photographer Margarito Martínez was gunned down outside his Tijuana home on Jan. 17.  Guillermo Arias, whose photographs chronicle life and death in the streets of Tijuana, worked with Martinez for many years.He recalled the painful experience of covering the murder of his friend and fellow journalist.""His daughter arrived and asked me not to photograph her dad's body,"" Arias told CBS News. In: Mexico Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Journalist among 4 people killed inside bar in Mexico, adding to the country's media death toll."
"The logo of Amazon is seen at the company logistics centre in Boves, France, August 8, 2018. REUTERS/Pascal RossignolRegister now for FREE unlimited access to Reuters.comLONDON, Aug 4 (Reuters) - Hundreds of Amazon workers at a warehouse in Tilbury in southeast England have walked out in protest over pay, the trade union GMB said, the latest sign of labour force discontent as the rising cost-of-living sparks strikes across sectors.Amazon, which dominates the online retail marketplace, has faced criticism from workers in many countries over pay and conditions.""Amazon continues to reject working with trade unions to deliver better working conditions and fair pay. Their repeated use of short-term contracts is designed to undermine worker’s rights,"" the union said on Thursday.Register now for FREE unlimited access to Reuters.comGMB said 800 workers walked out of the warehouse on Wednesday and Thursday over a 35 pence per hour pay increase, with the union seeking a two pound ($2.44) rise to cope with the higher cost of living and to better match the demands of the role.The U.S. tech giant, which has 70,000 workers in the UK, said starting pay would increase to a minimum of between 10.50 pounds an hour and 11.45 pounds in an e-mail.Workers from across industries, including railway, airline and telecommunication, have staged strikes in recent months in Britain as wage increases lag the rise in the price of goods.($1 = 0.8202 pounds)Register now for FREE unlimited access to Reuters.comReporting by Muvija M; editing William James and Kate HoltonOur Standards: The Thomson Reuters Trust Principles.","Hundreds of Amazon warehouse workers walk out over pay, UK union says."
"The Bank of England (BoE) building is reflected in a sign, London, Britain, December 16, 2021. REUTERS/Toby Melville/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comBy William Schomberg and David MillikenLONDON, Aug 4 (Reuters) - The Bank of England raised interest rates by the most in 27 years on Thursday, despite warning that a long recession is on its way, as it rushed to smother a rise in inflation which is now set to top 13%.Reeling from a surge in energy prices caused by Russia's invasion of Ukraine, the BoE's Monetary Policy Committee voted 8-1 for a half percentage point rise in Bank Rate to 1.75% - its highest level since late 2008 - from 1.25%.Register now for FREE unlimited access to Reuters.comThe 50-basis-point increase had been expected by most economists in a Reuters poll as central banks around the world scramble to contain the surge in prices.MPC member Silvana Tenreyro cast a lone vote for a smaller 25-basis-point increase.The BoE warned that Britain was facing a recession with a peak-to-trough fall in output of 2.1%, similar to a slump in the 1990s but far less than the hit from COVID-19 and the downturn caused by the 2008-09 global financial crisis.The economy would begin to shrink in the final quarter of 2022 and contract throughout all of 2023, making it the longest recession since after the global financial crisis.Ushering in the slowdown, consumer price inflation was now likely to peak at 13.3% in October - the highest since 1980 - due mostly to the surge in energy prices following Russia's invasion of Ukraine.That would leave households facing two consecutive years of declines in their disposable incomes, the biggest squeeze since these records began in 1964.British consumer price inflation hit a 40-year high of 9.4% in June, already more than four times the BoE's 2% target, triggering industrial action and putting pressure on whoever succeeds Boris Johnson as Britain's next prime minister to come up with further support.The BoE had previously expected inflation to peak at above 11% and almost no growth in Britain's economy before 2025 at the earliest.In its new forecasts, the BoE saw inflation falling back to 2% in two years' time as the hit to the economy took its toll on demand.The British central bank has now raised rates six times since December but Thursday's move was the biggest since 1995.The pressure on Governor Andrew Bailey and colleagues to move in larger steps intensified after recent big rate hikes by the U.S. Federal Reserve, the European Central Bank and other central banks.Those moves weakened the value of the pound, which can add to inflation.The BoE repeated that it was ready to move forcefully if needed to stem more persistent inflationary pressures.But it stressed that there were ""extremely large"" uncertainties about the economy - which could make the slowdown more or less severe than its core forecasts - and it would judge what its next moves should be as events unfold.""Policy is not on a pre-set path,"" the BoE said. ""The scale, pace and timing of any further changes in Bank Rate will reflect the Committee's assessment of the economic outlook and inflationary pressures.""On top of everything else, the BoE's inflation-fighting record has been called into question by Liz Truss, the front-runner to be Britain's next prime minister.She wants to set ""a clear direction of travel"" for monetary policy and to review the BoE's mandate. read more The BoE said it expected to start selling down its huge stockpile of government bonds, with active sales of around 10 billion pounds a quarter, shortly after its next meeting in mid-September.The gilt holdings peaked at 875 billion pounds in December and have since fallen to 844 billion pounds after the BoE stopped reinvesting the proceeds of maturing bonds in February.(Reporting by David Milliken and William Schomberg)((uk.economics@reuters.com; +44 20 7513 4034))Keywords: BRITAIN BOE/Register now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.",Bank of England raises rates by most since 1995 even as long recession looms.
"A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 4 (Reuters) - Tencent Holdings Ltd (0700.HK) plans to raise its stake in French video game group Ubisoft Entertainment SA (UBIP.PA) as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters.China's largest social network and gaming firm, which bought a 5% stake in Ubisoft in 2018, has reached out to the French firm's founding Guillemot family and expressed interest in increasing its stake in the firm, the sources said.It is not clear how much more Tencent plans to own in Ubisoft, valued at $5.3 billion, but Tencent aims to become the single largest shareholder of the French company with an additional stake purchase, two of the sources said.Register now for FREE unlimited access to Reuters.comTencent plans to buy a part of the additional stake in Ubisoft, the maker of the blockbuster ""Assassin's Creed"" video game franchise, from the Guillemot family, which owns 15% of the firm, three of the sources said.Tencent could offer up to 100 euros ($101.84) per share to acquire the additional stake, two of the sources with knowledge of the internal discussions, said. It paid 66 euros per share for the 5% stake in 2018.Ubisoft shares surged more than 15% after the Reuters report. Shares in Guillemot Corp SA (GTCN.PA), the holding company in which the Guillemot family owns the majority shareholding, were trading up more than 7%.Two of them added the Chinese firm will also seek to acquire shares from public shareholders of Ubisoft, to boost its ownership and become the single-largest shareholder.About 80% of the French firm's shares are owned by public shareholders, according to its latest annual report.All the sources declined to be named as they are not authorised to speak to the media.Tencent and Ubisoft declined to comment.Representatives of the Guillemot family could not be immediately reached for comment.The details of the deal have yet to be finalised and are subject to change, said the people who spoke on condition of anonymity as the information is private.The planned stake purchase, Tencent's latest major foreign deal since a regulatory crackdown in late 2020, will help it offset some of the pressures in the domestic gaming market. China's video games market, the world's largest, has become fiercely competitive.""Tencent is very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent,"" one of the people said.At the top end of 100 euros per share, Tencent's offer will be a premium of 127% to the stock's 44 euros average price over the past three months, and is close to its historical price ceiling at 108 euros in 2018.Tencent has submitted to the Guillemot family a term sheet - a non-binding offer describing the basic terms and conditions of an investment, said one of the people, with a price ""way above"" the company's current price to ward off potential competition.The aggressive offer also comes as global gaming power houses have been rushing to snap up quality independent game makers in recent years, which are in scarcity, two of the sources said.Tencent's senior executives flew to France in May to meet the Guillemot family about the purchase, two of the people said.DOMESTIC PRESSURESChina's gaming regulator has not granted any new game licences to Tencent at home since June last year, before it froze gaming approvals for nearly nine months. Since it resumed approvals in April this year, none of the past four batches included the company. read more In May, Tencent reported that its domestic game revenue dropped 1% in the first quarter while international game revenue rose 4%.Tencent, which has stakes in U.S. video game developers Epic Games and Riot Games, said in June it would release its flagship mobile game ""Honor of Kings"" globally by the end of the year. read more In 2016, it bought a majority stake in ""Clash of Clans"" mobile game maker Supercell for roughly $8.6 billion, one of the world's biggest ever gaming deals.It also owns 9% of UK video gaming firm Frontier Developments and said last year it would buy another British developer Sumo in a $1.3 billion deal. read more Ubisoft, whose titles also include ""Prince of Persia"" and ""Rainbow Six"", in May forecast lower operating profit for 2022-23 after the company reported operating income for 2021-22 that missed estimates. read more ($1 = 0.9819 euros)Register now for FREE unlimited access to Reuters.comAdditional reporting by Pamela Barbaglia in London, Sudip Kar-Gupta and Richard Lough in Paris; Editing by Sumeet Chatterjee and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Tencent seeks to raise stake in 'Assassin's Creed' maker Ubisoft - sources.
"COUTTS, Alberta/TORONTO, Aug 4 (Reuters) - In late January five friends, just a few years out of high school, piled into a rented camper van and drove 37 hours in the Canadian winter from southern Alberta to Ottawa to join anti-government protests led by a convoy of truckers.""We were worried about vaccine mandates and our freedom, and it all just going to hell,"" said Ursula Allred, 22, from her small, rural hometown of Magrath.Another member of the group, Justin Martin, excitedly phoned home to say the protest -- which occupied Ottawa with tractor-trailers, hot tubs, bouncy castles and scattered symbols of hate for weeks until it was broken up by police -- was ""the best experience, ever,"" said his mother, Lynette Atwood.Register now for FREE unlimited access to Reuters.com""They wanted their freedom back. These were young men who wanted to date, hadn't been able to date, wanted to have a life,"" she said, referring to the impact of lockdowns and restrictions imposed by provincial and federal governments to curb infections during the coronavirus pandemic.""They just felt that no one was listening.""Their excitement came to an abrupt end a few weeks later, when all five were arrested at another protest they had joined near the U.S.-Canada border in Coutts, Alberta.But the reverberations from the so-called ""Freedom Convoy"" protests against mandatory vaccination policies had only just begun. The protests, featuring hundreds of trucks and thousands like Allred and Martin, had already paralyzed downtown Ottawa and international border crossings for more than three weeks.Copycat protests featuring trailers and trucks followed in the United States and France. At home, the protests amplified anti-government sentiment among Canadians angry at COVID-19 restrictions and, less visibly, offered a hook for anti-establishment and far-right voices to draw a bigger audience.Extremists used the convoy ""as a pulpit to get their ideas across and, in that sense, it was a success,"" said David Hofmann, associate professor of sociology at the University of New Brunswick, who has been researching extremism in Canada for about a decade.They did that directly, with talk of deposing and prosecuting the heads of Canadian government during the protests, as the convoy's organizers declared was their goal in a ""Memorandum of Understanding"" leading up to the blockade.But they were also able to do that less directly, by talking up the merits of the convoy on social media and podcasts that also promoted more extremist rhetoric and conspiracy theories.They were helped by a relatively high level of sympathy for the protesters' frustrations -- which stood at 46% in one Ipsos poll in February -- even if most Canadians did not agree with the convoy's main message of opposing public health measures.Around 30% of Canadians agreed with the convoy's message in February at the height of the protests, a number that has since shrunk to 25% in July, according to polling research firm Ekos Research Associates.""This has become a lightning rod, a magnet to kind of focus all of this insecurity, disaffection, anger which predated COVID but which has been reinforced and strengthened by COVID,"" Ekos President Frank Graves said of the convoy movement.Its message has become: ""You're not alone. You're not the only one who thinks vaccines are unnecessary... Come on out,"" Graves said.Though most COVID-19 restrictions on gatherings, wearing masks and vaccine requirements have been lifted in recent months, smaller anti-government protests have continued, with some held as recently as the national holiday on July 1.'GATEKEEPING ELITE'Among the most prominent to tap into sympathy for the convoy is Pierre Poilievre, the frontrunner in a leadership race for Canada's opposition Conservative party, who dueled with rivals in a debate over who was first to support the movement.Fashioning himself as an anti-establishment force determined to free Canadians from a ""gatekeeping elite,"" Poilievre posted footage of himself supporting the convoy rolling into Ottawa.He promises, among other things, to take on the ""state media"" by defunding the Canadian Broadcasting Corporation, the public broadcaster, and to sack the Bank of Canada governor.He has also pledged to ban federal ministers from attending the World Economic Forum held annually in Davos, Switzerland -- a popular whipping boy for convoy participants and far-right supporters more globally.Anger against the forum has been buoyed by viral videos falsely claiming the WEF used the pandemic to put in motion a plan by ""global elites"" to subjugate society in a ""Great Reset"" - a twist on the WEF's stated plan to identify solutions to major challenges facing the world.""The gatekeeping elites will try to destroy anyone who threatens their power,"" Poilievre said on Twitter in response to criticism that he is pushing authoritarian populism.""I want to become PM to give you back control of your life & make Canada the freest country on earth,"" he wrote in another post.Poilievre's campaign did not respond to requests for an interview or to questions on his support for the convoy.Ekos's Graves says his polling shows that Canadians who support the convoy have ""an authoritarian, populist outlook"" and could be ""the strongest force in the Canadian political landscape"" because they are energized and motivated to vote.Not surprisingly, Canadian conservative politicians are trying to appeal to convoy supporters and tap into the rising populist sentiment, says Jared Wesley, political science professor at the University of Alberta.""There's a group out there that conservative politicians want to bring back into the fold,"" Wesley said.""That results in constant escalation of anti-establishment demands, that has the leading candidate for the Conservative Party promising to fire the Governor of the Bank of Canada.""SIMMERING RESENTMENT IN ALBERTAThe boldness of the convoy movement -- with days of honking in downtown Ottawa, border crossing blockades and the open display of a swastika and confederate flags -- took many outside Canada by surprise.But those involved and people close to the protesters said it was a natural progression of frustration and disenfranchisement, especially in parts of western Canada, where resentment towards Ottawa has simmered for decades.Researchers point to a history of anti-government sentiment in largely conservative, oil-rich Alberta. The province prides itself on a frontier spirit and has long felt alienated from eastern Canada, accusing the federal government of relying on its fossil fuels without offering respect or autonomy in return.""Albertans see themselves as the people who pay for everyone else in Canada,"" said Peter Smith, a researcher for the Canadian Anti-Hate Network, a non-profit organization that examines hate crimes and hate groups.In Magrath and the nearby town of Raymond, where Allred's four camper van companions lived, anti-government sentiment and worries about federal over-reach remain strong.Shortly after Allred and her friends were arrested in Coutts in February, a large black flag reading ""Fuck Trudeau,"" with a red maple leaf replacing the first word's ""u,"" flew in a backyard along the main road into Raymond.Another house bore ""Hold the Line for Freedom"" painted in red across a downstairs window, while many vehicles sported Canadian flags and symbols of support for the blockades.There was widespread sympathy for Allred and her companions, who were each charged, along with five others, with possession of a weapon for dangerous purpose and mischief. They have since been released on bail.In the most serious charges related to the convoy movement, four men from southern Alberta involved in a border blockade were arrested in February and accused of conspiring to kill police officers. They remain in custody awaiting trial.Two weeks after the Coutts blockade disbanded, another protest camp remained on the side of the highway farther north in Milk River: a small encampment of trailers and a food truck in a large open field, monitored by a Royal Canadian Mounted Police cruiser parked a discreet distance away.""That is waking the country up,"" said Elliot McDavid, one of the camp organizers, adding the protests had achieved their goal of forcing Prime Minister Justin Trudeau to invoke the Emergencies Act to disband them.In the Ipsos survey in February, 58% of Albertans found convoy participants' frustration legitimate and worthy of sympathy, compared to the 46% national figure.'A DANGEROUS TIME'With broad support for policies like universal healthcare and gun control, Canada has long been viewed as more moderate than its southern neighbor. But analysts say right-wing extremism has long had a home north of the U.S. border -- and the ""Freedom Convoy"" movement and related anti-government protests against COVID-19 restrictions have given it new momentum.A 2015 study identified about 100 far-right extremist groups. The number has tripled since then, Hofmann said.Larger groups have splintered but the overall number of participants has also grown, Hofmann said.He and his colleagues have identified about 1,200 visibly active participants who have either had contact with police or the media or have been active on social media, he said.This is up from previous counts but changing methodologies make comparisons difficult, he said.One group that has drawn the attention of analysts in recent months is the Hammerskins, an offshoot of a U.S. neo-Nazi organization. It had been quiet in Canada for nearly a decade but now has a presence in cities like Hamilton, Oshawa, and the Greater Toronto Area, with members also recruiting in British Columbia, said the Canadian Anti-Hate Network's Smith.Attempts to contact the Hammerskins for comment were unsuccessful.""The convoy was huge and significant and will be a propaganda tool for a long time,"" Smith said.Public Safety Minister Marco Mendicino in February alluded to the link between the convoy protests and extremism, saying: ""We need to be clear-eyed about the seriousness of these incidents.""He said that some of those charged had ""strong ties to a far-right extreme organization,"" which a source in his office said at the time referred to the Diagolon right-wing network.Patches featuring Diagolon's flag were affixed to body armor police seized in connection with arrests at the Coutts border blockade in February.Jeremy MacKenzie, the de facto founder of Diagolon -- a fictional breakaway state that has become a symbol of anti-government sentiment among right-wing Canadians -- has given prominent space to the convoy on his podcast and Telegram channel.In an interview with Reuters, MacKenzie said Diagolon started as a joke and is a loose social network of ""patriotic people"", rather than a political movement. He says he is being unfairly targeted by Canadian authorities.The convoy was a success for Diagolon ""because it is part of their goal is to destabilize and to sow doubt, and to delegitimize the government and the state,"" a federal government source familiar with the matter said in February.Another group, Veterans 4 Freedom, emerged from the protests and aims to protect anti-establishment protesters and opposes COVID-19 restrictions, said Andrew MacGillivray, a military veteran who is part of the group.""The rights and freedoms of Canadians are eroding and we are going to work to sustain lawful civic action in order to restore those fundamental rights,"" MacGillivray said in an interview.""We just want to make sure that if there's any sort of protest and counter-protest that our volunteers can help keep the peace.""The group helped organize a June 30 protest in Ottawa featuring a veteran who walked thousands of kilometers to protest vaccine mandates and who now faces a court martial for criticizing vaccine policies while in uniform.Other anti-establishment voices have also been galvanized.Outspoken Calgary pastor Artur Pawlowski, who reckons he racked up about 40 tickets for violating pandemic restrictions, was charged with inciting people to damage or obstruct essential infrastructure during a speech at the Coutts blockade.Out on bail, he told Reuters he is fighting the charges and that the convoy had ""awakened"" people to fight for freedom.""The truth is I have become a symbol of freedom,"" he said, later adding he is considering running for office.""I would clean your swamp. That’s what I do.""His son Nathaniel Pawlowski said he worries about what will happen if people angry at government restrictions are pushed too far: ""If you study history, you know this is a dangerous time.""Register now for FREE unlimited access to Reuters.comEditing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.Anna Mehler PapernyThomson ReutersToronto-based correspondent covering among other topics migration and health.","In protests and politics, Canada's 'Freedom Convoy' reverberates."
"NATO Secretary General Jens Stoltenberg speaks during a press conference at a NATO summit in Madrid, Spain June 30, 2022. REUTERS/Violeta Santos MouraRegister now for FREE unlimited access to Reuters.comUTOEYA, Norway, Aug 4 (Reuters) - The war in Ukraine is the most dangerous moment for Europe since World War Two, and Russia must not be allowed to win, NATO Secretary-General Jens Stoltenberg said on Thursday.To prevent Moscow from succeeding, NATO and its member countries may have to continue to support Ukraine with arms and other assistance for a long time to come, he said.""It's in our interest that this type of aggressive policy does not succeed,"" the former prime minister of Norway said in a speech in his native country.Register now for FREE unlimited access to Reuters.com""What happens in Ukraine is terrible but it would be much worse if there was a war between Russia and NATO,"" he said.Describing what Moscow calls a ""special military operation"" as an attack on the current world order, Stoltenberg said the alliance had to prevent the war from spreading.""This is the most dangerous situation in Europe since World War Two.""""If President (Vladimir) Putin even thinks of doing something similar to a NATO country as he has done to Georgia, Moldova or Ukraine, then all of NATO will be involved immediately,"" Stoltenberg said.The war has led previously non-aligned Finland and Sweden to seek NATO membership, with the request so far ratified by 23 of the 30 member states, including the United States. read more ""This is not just an attack on Ukraine, an independent democratic nation with more than 40 million people, it's also an attack on our values and the world order we want,"" the NATO chief said of the war.Stoltenberg spoke at Utoeya island where a far-right extremist in 2011 killed 69 people in a shooting spree targeting members of the governing Labour Party's youth wing. In the years since the attack, the small Norwegian island has become a centre for teaching democratic values.Register now for FREE unlimited access to Reuters.comReporting by Jacob Gronholt-Pedersen and Nerijus Adomaitis; Writing by Terje Solsvik; Editing by Alison Williams and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",NATO chief: Ukraine war is Europe's most dangerous time since WW2.
"World August 4, 2022 / 5:23 AM / CBS/AFP China fired ballistic missiles and deployed fighter jets and warships on Thursday as it began its largest-ever military exercises around Taiwan, a show of force sparked by U.S. House Speaker Nancy Pelosi's visit to the island. Pelosi was the highest-profile U.S. official to visit Taiwan in years, defying a series of stark threats from Beijing, which views the self-ruled island as its territory. In retaliation, China launched a series of exercises in multiple zones around Taiwan, straddling some of the busiest shipping lanes in the world and at some points just 12 miles from the island's shore. The drills involved a ""conventional missile firepower assault"" in waters to the east of Taiwan, the Chinese military said. The aim was to test the precision of the missiles and their ability to deny an enemy access to or control of an area, Eastern Theater Command spokesman Senior Colonel Shi Yi said in a statement. Taiwan said the Chinese military fired several Dongfeng-class ballistic missiles, and condemned the exercises as ""irrational actions that undermine regional peace."" A TV screen shows that China's military started exercises including live firing on the waters and the airspace surrounding Taiwan, as reported by Chinese state television, in Hong Kong, China August 4, 2022. TYRONE SIU / REUTERS Taipei didn't say where the missiles landed or whether they flew over the island. Agence France-Presse journalists on the border island of Pingtan saw several small projectiles flying into the sky followed by plumes of white smoke and loud booming sounds. On the mainland, at what is said to be China's closest point to Taiwan, AFP saw a batch of five military helicopters flying at a relatively low altitude near a popular tourist spot. Chinese navy ships and military aircraft briefly crossed the median line dividing thee Taiwan Strait several times, the Reuters news agency quoted a Taiwanese source who'd been briefed on the exercises as saying.Taiwan sent jets and deployed missile systems to keep tabs on numerous Chinese aircraft that crossed the line.Reuters reported that its source said, ""They flew in and then flew out, again and again. They continue to harass us.""The drills will conclude at midday on Sunday, Beijing has said.China's nationalist state-run tabloid Global Times had said, citing military analysts, that the exercises were ""unprecedented"" and that missiles would fly over Taiwan for the first time.Beijing has defended the drills as ""necessary and just,"" pinning the blame for the escalation on the United States and its allies. ""In the current struggle surrounding Pelosi's Taiwan visit, the United States are the provocateurs, China is the victim,"" foreign ministry spokeswoman Hua Chunying told a regular briefing Wednesday. A Chinese military source also told AFP the exercises would be staged ""in preparation for actual combat"". ""If the Taiwanese forces come into contact with the PLA on purpose and accidentally fire a gun, the PLA will take stern countermeasures, and all the consequences will be borne by the Taiwanese side,"" the source said. The maneuvers are taking place along some of the busiest shipping routes on the planet, used to supply vital semiconductors and electronic equipment produced in East Asian factory hubs to global markets. Taiwan's Maritime and Port Bureau has issued warnings to ships to avoid the areas being used for the Chinese drills. The Taiwanese cabinet said the drills would disrupt 18 international routes passing through its flight information region (FIR). Taiwan's 23 million people have long lived with the possibility of an invasion, but that threat has intensified under President Xi Jinping, China's most assertive ruler in a generation. Analysts said the Chinese leadership is eager to project strength ahead of a crucial ruling party meeting this autumn at which Xi is expected to be given an unprecedented third term. ""China's announced military exercises represent a clear escalation from the existing baseline of Chinese military activities around Taiwan and from the last Taiwan Strait Crisis in 1995-1996,"" said Amanda Hsiao, senior analyst for China at the International Crisis Group. ""Beijing is signaling that it rejects Taiwan's sovereignty."" Nevertheless, analysts have told AFP that China isn't aiming to escalate the situation beyond its control -- at least for now. Titus Chen, an associate professor of political science at the National Sun Yat-Sen University in Taiwan, said: ""The last thing Xi wants is an accidental war."" In: Taiwan Nancy Pelosi China",China starts biggest-ever military drills around Taiwan in wake of Pelosi's visit.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesSees FY adj EBIT of more than 500 mln eurosPosts Q2 adj EBIT of 393 mln euros vs yr-earlier lossPlans to offer around 80% of capacity in Q3Shares rise more than 5%FRANKFURT/BERLIN, Aug 4 (Reuters) - Germany's Lufthansa (LHAG.DE) said on Thursday it expected demand for short-haul flights in Europe to drive growth at its passenger airlines this year, forecasting a return to group operating profit for the full year, pushing its shares higher.Travellers have returned to the skies following COVID-19 pandemic-related travel restrictions in 2020 and 2021, helping airlines, such as Lufthansa, Air France-KLM (AIRF.PA) and British Airways-owner IAG to return to profit this summer.Lufthansa said bookings for August to December were now at an average of 83% of the pre-pandemic level, and it hoped that business travel bookings would reach 70% in the fourth quarter.Register now for FREE unlimited access to Reuters.comChief Executive Carsten Spohr said the airline group was seeing more and more wealthy people who were willing to spend money on hotels, rental cars, expensive restaurants as well as air tickets.""These people are less sensitive to economic up- and downturns,"" he said.Lufthansa now expects to generate full-year adjusted operating profit (EBIT) of more than 500 million euros ($510 million), bouncing back from last year's 2.3 billion euro loss.Analysts are even more optimistic, on average predicting 569 million euros, according to a consensus published on Lufthansa's website.Shares in the carrier jumped more than 5% on Thursday.INDUSTRIAL ACTIONPlanes of German air carrier Lufthansa are parked at Frankfurt airport in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach//File PhotoThe airline industry, particularly in Europe, has struggled to cope with the rapid rebound in demand, with huge queues building at many airports because of staff shortages, prompting last-minute cancellations and travellers' frustration.The travel chaos has led airlines to trim capacity, with Lufthansa cancelling more than 2,000 flights this summer. It said it expected to offer about 80% of pre-crisis capacity in the third quarter, less than previously planned, and 85-90% in 2023.That should, however, help it markedly improve quarterly adjusted earnings before interest and tax (EBIT) compared with the second quarter, it said.Lufthansa reported adjusted EBIT of 393 million euros for the three months through June thanks to booming demand for air cargo flights, up from a year-earlier loss of 827 million euros.Its passenger airline business reported an adjusted loss before interest and tax of 86 million euros in the quarter because of costs related to flight disruptions.Lufthansa still faces uncertainty, though, from possible walkouts by its workers. Management was in talks on Thursday with ground staff, whose one-day strike last week forced the airline to cancel more than 1,000 flights.One day of strikes costs Lufthansa 30 to 35 million euros in lost revenues.The carrier is also due to hold talks next with pilots, who have already voted in favour of industrial action.($1 = 0.9841 euros)Register now for FREE unlimited access to Reuters.comReporting by Ilona Wissenbach; Writing by Maria Sheahan
Editing by Christian Schmollinger, Mark Potter and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.Maria SheahanThomson ReutersCo-bureau chief leading coveriage of Germany, Austria, Switzerland and the Balkans.",Lufthansa sees return to full-year profit as travel picks up.
"Convicted Russian agent Maria Butina is accompanied by federal agents after her release from a Florida prison, during her transfer onto a jet bound for Moscow at Miami International Airport in Miami, Florida, U.S. October 25, 2019. U.S. Immigration and Customs Enforcement/Handout via REUTERS. THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY./File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 4 (Reuters) - In the five months since the U.S. Department of Justice launched a task force to seize Russian oligarchs' assets to pressure Moscow over its invasion of Ukraine, prosecutors also have targeted something less tangible: Russia's influence.Prosecutors in that period have charged five Russians with acting on the Kremlin's behalf without registering as foreign agents, as the Justice Department broadly ramps up enforcement of the Foreign Agents Registration Act (FARA) and a related law known by its code number, 951.FARA and 951 let prosecutors go after broader activity - such as lobbying or running media campaigns - than espionage statutes, which focus on agents seeking classified or military information, experts said.Register now for FREE unlimited access to Reuters.com""The Russian playbook is so much bigger than that,"" said David Aaron of law firm Perkins Coie, a former national security prosecutor.In the latest instance, federal prosecutors in Tampa, Florida, last week charged Russian national Aleksandr Ionov with 951 conspiracy for financially supporting U.S. political groups. read more In an interview with Reuters on Tuesday, Ionov - who is in Russia - called the U.S. charges ""complete nonsense"" and a ""political decision."" read more The charges against the Russians come as U.S. prosecutors increasingly wield the two foreign-influence laws, which they previously used only rarely, against a variety of defendants.Since 2018, the United States has accused 52 people - including Russian, Chinese and American citizens - of violating or conspiring to violate FARA, 951 or both, according to a Reuters analysis of Justice Department statements and records from seven major district courts. In the prior six-year period, just 13 people were charged under those laws, the analysis shows.Of the 52 people, 13 have since pleaded guilty, including Maria Butina, a Russian student who in 2018 admitted to 951 conspiracy by trying to create back channels between Moscow and Republican politicians.Others charged include Thomas Barrack - a fundraiser for former president Donald Trump's 2016 campaign – who will stand trial next month on charges under 951 of illegally lobbying for the United Arab Emirates. Barrack pleaded not guilty. read more Federal prosecutors have also charged several alleged Chinese agents this year and in 2020. Some have pleaded not guilty and others are at large. read more The Justice Department declined to comment. Russia has denied interfering in the U.S. election and calls its campaign in Ukraine a ""special military operation."" Its embassy in Washington did not respond to a request for comment.CONFERENCE IN YALTA, FORT IN HAWAIISection 951 was passed as part of the 1917 Espionage Act - enacted partly to combat resistance to the World War One draft - and criminalizes acting as a foreign agent without notifying the U.S. attorney general. While once mainly used against traditional espionage, cases brought in recent years have targeted lobbying and influence operations.FARA was enacted in 1938 to counter Nazi propaganda. It requires foreign lobbyists to register with the Justice Department. Prosecutors brought a handful of FARA cases in the postwar era; in recent decades, they were wary of bringing charges under an untested statute, experts said.But in 2019, a Justice Department official said at a legal conference that prosecutors would focus more on FARA in a ""big shift"" spurred by Russia's alleged interference in the 2016 presidential election.""For national security issues, FARA has become one of the first tools out of the bag,"" said Matthew Sanderson of Caplin & Drysdale.In addition to Ionov, the other Russians charged recently include Aleksandr Babakov - a Vladimir Putin-aligned Russian parliament member - and two of his staffers. They were accused in April of hiring consultants to lobby U.S. members of Congress to advance Russia's interests. read more Babakov directed an unnamed U.S. associate to invite a U.S. congressman to a 2017 conference in Yalta sponsored by the U.S.-sanctioned leader of Crimea, prosecutors said. The unnamed congressman did not attend.Babakov could not be reached for comment.In March, prosecutors accused Elena Branson, a U.S.-Russian dual national, of violating 951 and FARA by receiving $170,000 in Russian state funds to organize an ""I Love Russia"" campaign for U.S. youth. She also lobbied Hawaiian officials not to change the name of a formerly Russian fort, prosecutors said. read more In an October 2021 interview with Russian state broadcaster RT after returning to Russia, Branson said she did not communicate with U.S. politicians. In a March 8 Facebook post, Russia's embassy in Washington called the charges against Branson ""unfounded.""Branson, Babakov and Ionov are believed to be in Russia.They are unlikely to be arrested by U.S. authorities, but charging fugitives sends a message to Moscow to thwart further activity, said Brandon Van Grack, a partner at Morrison Foerster and former chief of DOJ's FARA unit.""It is a way to deter the other government - to say 'look, we know what you're doing here, so stop it,'"" he said.Register now for FREE unlimited access to Reuters.comReporting by Luc Cohen in New York
Editing by Noeleen Walder, Amy Stevens and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Analysis: Beyond yachts and planes - U.S. turns to foreign agent laws to curb Russian influence.
"A general view of pipelines on the gas storage facility at the gas trading company VNG AG in Bad Lauchstaedt, Germany July 28, 2022. REUTERS/Annegret HilseRegister now for FREE unlimited access to Reuters.comSummaryEurope gas storage 70% full, surpassing 5-year averageFilling EU tanks to targets costs 50-55 bln euros-analystsEurope raised LNG imports to compensate for reduced Russia flowsDespite building up gas storage, uncertainties remainLONDON, Aug 4 (Reuters) - European countries are on track to reach a gas storage filling target by the start of this winter, but the cost of replenishing stocks will be over 50 billion euros ($51 billion), 10 times more than the historical average of filling up tanks for winter.European governments had been concerned that Russia's cut in supplies through its main gas pipeline to Germany would leave countries unable to meet goals to refill storage for winter.They have managed to build up gas storage steadily by curbing demand, switching from gas to coal for some power plants and increasing imports of liquefied natural gas (LNG).Register now for FREE unlimited access to Reuters.comEuropean gas storage levels were 70.54% full on Tuesday, surpassing the 5-year average of 70.32%, according to data from Gas Infrastructure Europe (GIE) released on Thursday. The levels were also not far from a 10-year average of around 71.40%.The European Union aims to refill storage to 80% of capacity by Nov. 1 to provide a buffer for peak demand winter months. The EU has also set interim targets for each country for each month.Germany, hardest-hit by Russia's reduced gas flows, has set a higher goal for itself and aims to be 95% full by November.Reuters Graphics""The EU already surpassed its September 1 interim filling target in early July and is still on pace to reach the November 1 target,"" said Jacob Mandel, senior associate for commodities at Aurora Energy Research.Ramped-up LNG imports have helped. The EU imported 21.36 million tonnes of LNG in the first half of 2022, up from 8.21 million tonnes in the same period a year ago, according to ICIS.In June, for the first time in history, U.S. LNG contributed more gas supply to Europe than pipeline gas from Russia.However, despite being on track to meet the target, analysts cautioned against complacency and warned that Europe's dependence on Russian gas is far from over.""Europe remains dependent on two things: how cold the winter will be and how Russian flows will evolve into spring. Uncertainty on both will likely keep prices supported even if inventories keep rising over the coming months,"" UBS oil analyst Giovanni Staunovo said.Analysts and industrial experts have warned filling up gas storage to target levels would be impossible if Russia totally cuts supplies through the Nord Stream 1 pipeline to Germany. read more HIGH PRICESPrivate firms are primarily responsible for storage injections. European governments have offered incentives such as credit lines, loans and subsidies to help them buy gas as prices hit record highs. read more The price of the front-month Dutch TTF gas contract , the benchmark for Europe, has almost tripled since the start of the year due to the slowdown of Russian gas deliveries through Nord Stream 1 and a tight global market. read more Reuters GraphicsThis makes buying wholesale gas a costly enterprise.""Hypothetically, replacing the North Stream 1 flow over this winter based on the TTF future price for the winter season, would cost Europe over 50 billion euros, about 10 times higher than it would have been historically,"" said Callum Macpherson, head of commodities at Investec.Simone Tagliapietra, senior fellow at think-tank Bruegel estimates that Europe would have to spend 26 billion euros to fill up gas storage to 80% from current levels.Europe's natural gas imports from RussiaAurora's Mandel estimated the total cost of gas injected into EU storage since the introduction of the targets in June is about 19.8 billion euros, assuming that all gas injected into storage has been and will be purchased at spot prices at the Dutch TTF hub.He expected an extra 35.5 billion euros is now needed to fill EU storage to the targets, bringing the total to over 55 billion euros.""I would also estimate an additional 300 million to 600 million euros for the cost of using the storage,"" he said.The cost of filling up the storage could be passed to consumers by ever higher energy bills or through taxation, analysts said.The European Commission, the EU executive, proposed last month a target for all member states to cut gas use by 15% from Aug. 1 to allow storage to fill more quickly. read more EU gas inventories were around 78.81 billion cubic metres (bcm), UBS said, still 25 bcm below the level the bank estimates would allow the EU to ride out a complete cut-off of Russian supplies without significant demand-rationing.Map showing how gas and oil-rich Russia is linked to European energy markets through a series of critical pipelines, the biggest flowing through Ukraine.($1 = 0.9817 euros)Register now for FREE unlimited access to Reuters.comReporting by Bozorgmehr Sharafedin in London, additional reporting by Marwa Rashad and Susanna Twidale, Edited by Nina Chestney and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.",European gas storage on track to meet target but at a cost.
"An XCIENT Fuel Cell truck photographed in South Korea on Nov. 10, 2021. A number of firms in the trucking sector are exploring ways to develop vehicles that use hydrogen.SeongJoon Cho | Bloomberg | Getty ImagesHyundai Motor Company is to export 27 of its XCIENT Fuel Cell trucks to Germany, with the heavy-duty vehicles set to be used by firms operating in retail, logistics and manufacturing.In a statement earlier this week, the automotive giant said a total of seven companies — it did not provide their names — would make use of funding from the German government to introduce the vehicles to the country's roads.According to Hyundai, Germany's Federal Ministry for Digital and Transport has a 1.6 billion euro (roughly $1.63 billion) budget for the purchase of ""eco-friendly commercial vehicles."" The funding is available until 2024.The trucks that will be deployed in Germany have a 180-kilowatt hydrogen fuel cell system and use seven hydrogen tanks. The extra power comes from three batteries. ""The maximum driving range is 400 km (a little under 249 miles) per charge,"" Hyundai says.The hydrogen-electric trucks sent to Germany will bolster the XCIENT Fuel Cell's presence in Europe. A total of 47 have already been sent to Switzerland, clocking up over 4 million kilometers on the road as of July this year.In Sept. 2021, the Hyundai Motor Group said it planned to develop hydrogen fuel cell versions of all its commercial vehicle models by the year 2028 and look to introduce a ""next generation fuel-cell system"" in 2023.The South Korean business said its goal was to ""achieve a fuel cell vehicle price point comparable to a battery electric vehicle by 2030.""Read more about electric vehicles from CNBC ProWith governments around the world looking to reduce the environmental footprint of transportation, a number of companies in the trucking sector are exploring ways to develop low and zero-emission vehicles, including ones that use hydrogen.In June, Volvo Trucks said it had begun to test vehicles that use ""fuel cells powered by hydrogen,"" with the Swedish firm saying their range could extend to as much as 1,000 kilometers, or a little over 621 miles.Gothenburg-headquartered Volvo Trucks said refueling of the vehicles would take under 15 minutes. Customer pilots are set to begin in the next few years, with commercialization ""planned for the latter part of this decade.""The same month saw U.K.-based startup Tevva launch a hydrogen-electric heavy goods vehicle. According to the firm, its vehicle will have a range of as much as 310 miles, or slightly under 500 kilometers.Tevva's first hydrogen-electric truck will weigh 7.5 metric tons, with later versions planned to weigh 12 and 19 metric tons.",Hyundai to export heavy-duty hydrogen electric trucks to Germany.
"World August 4, 2022 / 1:35 AM / CBS/AP Beijing — Police in southern China have arrested a 47-year-old man suspected of an attack that killed three people and injured six others at a kindergarten in Jiangxi province.Liu Xiaohui was arrested at 10:50 p.m. on Wednesday, about 12 hours after the morning attack, the Anfu county police said in a statement. He'd fled and gone into hiding, the statement said. Police didn't provide any information on the identity and ages of the victims. China's Global Times newspaper reported that at least one victim was a child and that the attacker is believed to have been armed with a knife.When police first put out word about the attack, they said a ""gangster wearing a cap and mask"" carried it out at a private kindergarten, Agence France-Presse reported.    China upgraded security at schools following a spate of of deadly attacks in recent years attributed largely to people bearing grudges against society or with mental illnesses. China doesn't allow private gun ownership, so most such attacks are carried out with knives, homemade explosives or gasoline bombs. Around 100 children and adults have been killed and hundreds injured over the past decade in apparently uncoordinated ""lone wolf"" attacks in which the motives were unclear. The mostly male assailants were either killed, took their own lives or were put on trial and executed. Acts of violence against China's youth resonate especially strongly due to the country's chronically low birth rate, partly due to decades of population control policies. In: China Stabbing",Arrest in China kindergarten attack that killed 3 and injured 6.
"A TV screen shows that China's People's Liberation Army has begun military exercises including live firing on the waters and in the airspace surrounding the island of Taiwan, as reported by Chinese state television, in Hong Kong, China August 4, 2022. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 4 (Reuters) - Using force won't solve problems and differences, Taiwan's Mainland Affairs Council said at a regular news briefing on Thursday, the same day China filed multiple missiles around the self-ruled island in unprecedented military drills.The drills followed a visit by U.S. House of Representatives Speaker Nancy Pelosi on Tuesday and Wednesday to Taiwan, which Beijing regards as its sovereign territory.The Council said these drills will not change the fact that the two sides don't belong to each other, and urged the Communist Party to immediately stop intimidating Taiwan.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",Taiwan's Mainland Affairs Council: Military force will not solve problems.
"A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 4 (Reuters) - Tencent Holdings Ltd (0700.HK) plans to raise its stake in French video game group Ubisoft Entertainment SA (UBIP.PA) as the Chinese gaming giant pivots to the global gaming market, four sources with direct knowledge of the matter told Reuters.China's largest social network and gaming firm, which bought a 5% stake in Ubisoft in 2018, has reached out to the French firm's founding Guillemot family and expressed interest in increasing its stake in the firm, the sources said.It is not clear how much more Tencent plans to own in Ubisoft, valued at $5.3 billion, but Tencent aims to become the single largest shareholder of the French company with an additional stake purchase, two of the sources said.Register now for FREE unlimited access to Reuters.comTencent plans to buy a part of the additional stake in Ubisoft, the maker of the blockbuster ""Assassin's Creed"" video game franchise, from the Guillemot family, which owns 15% of the firm, three of the sources said.Tencent could offer up to 100 euros ($101.84) per share to acquire the additional stake, two of the sources with knowledge of the internal discussions, said. It paid 66 euros per share for the 5% stake in 2018.Ubisoft shares surged more than 10% after the Reuters report.Two of them added the Chinese firm will also seek to acquire shares from public shareholders of Ubisoft, to boost its ownership and become the single-largest shareholder.About 80% of the French firm's shares are owned by public shareholders, according to its latest annual report.All the sources declined to be named as they are not authorised to speak to the media.Tencent and Ubisoft declined to comment.Representatives of the Guillemot family could not be immediately reached for comment.The details of the deal have yet to be finalised and are subject to change, said the people who spoke on condition of anonymity as the information is private.The planned stake purchase, Tencent's latest major foreign deal since a regulatory crackdown in late 2020, will help it offset some of the pressures in the domestic gaming market. China's video games market, the world's largest, has become fiercely competitive.""Tencent is very determined to nail down the deal as Ubisoft is such an important strategic asset for Tencent,"" one of the people said.At the top end of 100 euros per share, Tencent's offer will be a premium of 127% to the stock's 44 euros average price over the past three months, and is close to its historical price ceiling at 108 euros in 2018.Tencent has submitted to the Guillemot family a term sheet - a non-binding offer describing the basic terms and conditions of an investment, said one of the people, with a price ""way above"" the company's current price to ward off potential competition.The aggressive offer also comes as global gaming power houses have been rushing to snap up quality independent game makers in recent years, which are in scarcity, two of the sources said.Tencent's senior executives flew to France in May to meet the Guillemot family about the purchase, two of the people said.($1 = 0.9819 euros)Register now for FREE unlimited access to Reuters.comAdditional reporting by Pamela Barbaglia in London, Sudip Kar-Gupta and Richard Lough in Paris; Editing by Sumeet Chatterjee and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Tencent aims to raise stake in 'Assassin's Creed' maker Ubisoft - sources.
"The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 3, 2022. REUTERS/StaffRegister now for FREE unlimited access to Reuters.comSummaryCompaniesRetailer Next lifts outlook on strong clothing demandCredit Agricole tops France's CAC40 on Q2 beatLufthansa sees return to annual profit as travel picks upSTOXX 600 adds 0.3%Aug 4 (Reuters) - European shares rose on Thursday following strong results from a slew of companies, with focus squarely on Britain's central bank that is expected to lift interest rates by the most since 1995.The pan-European STOXX 600 index (.STOXX) gained 0.3%, with Germany's DAX (.GDAXI) up 0.7%.The Bank of England is expected to lift borrowing costs by a bigger 50 basis points to 1.75%, according to a Reuters poll, as it battles inflation running at a four-decade high. read more Register now for FREE unlimited access to Reuters.com""There has been a pattern in recent meetings, like the Reserve Bank of Australia this week, where central banks have struggled to convince markets they are going to follow through with hikes that have been priced in,"" Jonas Goltermann, senior economist at Capital Economics, said.""Because the stock market was so beat up going into the earnings season, there's been a degree of relief that earnings have been bad, but not awful.""British retailer Next (NXT.L) climbed 3% on raising its full-year sales and profit forecasts. The retail sector (.SXRP) jumped 2.7%, boosting the European benchmark index.Credit Agricole (CAGR.PA) rose 4.5% as it joined French lenders BNP Paribas (BNPP.PA) and Societe Generale (SOGN.PA) in announcing a better-than-expected quarterly profit amid record activity at its investment banking division. read more European banks advanced 0.3%, but gains were capped by a 2.8% drop in the Netherlands' ING Groep NV (INGA.AS) even as it posted a better-than-expected quarterly pre-tax profit.""ING beats expectations, but results difficult to read with Turkey hyperinflation impact,"" Jefferies analysts said in a note, adding that the bank's fees and costs were a slight miss.Lufthansa (LHAG.DE) rose 4.8% as it said it expects a return to group operating profit for the full year. read more However, the German airline warned it would offer only around 80% of ""pre-crisis"" passenger capacity in the third quarter, less than previously planned, amid staffing shortages at airports and airlines. read more Ice cream maker Ben & Jerry's independent board said parent company Unilever (ULVR.L), with which it is locked in a dispute over the sale of its Israeli business, had frozen its directors' salaries in July as a pressure tactic ahead of a mediation on the matter. Unilever's shares fell 1.5%. read more Register now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.",Robust earnings support European shares; eyes on BoE rate decision.
"Professional sign Language interpreter Jonan Opori, Productions Lead at Signs TV Uganda Susan Mujaawa and Signs TV Uganda Team Leader Simon Eropu are filmed inside their studio in Kabalagala suburb of Kampala, Uganda July 18, 2022. REUTERS/Abubaker LubowaRegister now for FREE unlimited access to Reuters.comKAMPALA, Aug 4 (Reuters) - When Susan Mujawa Ananda heard a deaf man had been shot and wounded in Uganda for breaking a curfew during the pandemic his family said he knew nothing about, she resolved to set up an online television channel for deaf people.""The reason why he was shot ... is because he didn't know what was happening in the country. He didn't know that there was a curfew,"" Ananda, a sign language interpreter, told Reuters.Late last year, she teamed up with a deaf friend, Simon Eroku, and after winning a grant they founded SignsTV, which runs news bulletins for deaf people, delivered by deaf people.Register now for FREE unlimited access to Reuters.comSlightly over a million people in Uganda, out of a total population of about 45 million, have a hearing disability and most of them have limited access to TV news due to a lack of sign language services on established channels.The new station, which made its first broadcast in April and employs eight staff including four deaf anchors, operates from a studio in a Kampala suburb.In a typical broadcast on SignsTV Uganda, the news is read by two deaf anchors and simultaneously signed by a sign language interpreter, going slowly to match the anchor's pace, while the screen also carries subtitles.The deaf man whose story moved Ananda to act, was shot in the leg in a village in northern Uganda in April 2020, by a member of the Local Defence Unit (LDU), a para military force that sometimes operates alongside regular police and the military. His leg later had to be amputated. Police at the time told local media they would investigate. They were not available for new comment on the case.For now, SignsTV Uganda produces only one weekly news roundup on Saturdays due to financial, staffing and technical constraints, but Ananda said it had ambitions to expand its offer. Up to about 800 viewers have watched individual bulletins so far and the numbers are growing.""We want to have sports, we want to have talkshows, we want to have news,"" she said, adding music could also be a possibility.Register now for FREE unlimited access to Reuters.comReporting by Elias Biryabarema; Editing by George Obulutsa, Estelle Shirbon, Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.",Ugandan online TV bridges information gap for the deaf.
"Crime Updated on: August 3, 2022 / 11:16 PM / CBS News A suspect who was mistakenly released from jail after being arrested on attempted murder charges in the Los Angeles shooting of Lady Gaga's dog walker has been recaptured, authorities said. James Howard Jackson, 19, was taken into custody in the northern L.A. County city of Palmdale during a raid by deputies and U.S. Marshals, the L.A. County Sheriff's Department announced Wednesday. Jackson was one of five people arrested in April of 2021 for their alleged involvement in the shooting of Lady Gaga's dog walker and theft of two of her French bulldogs on a street in the L.A. neighborhood of Hollywood. Police believe Jackson was the gunman who opened fire on the singer's dog walker, Ryan Fischer, who sustained a gunshot wound, but survived. Jackson was charged with attempted murder. Jackson was accidentally released from jail on April 6 of this year due to what the sheriff's department called a ""clerical error,"" and authorities had been searching for him ever since. The sheriff's department did not provide any details as to how Jackson was located, only stating that he was ""apprehended without incident."" Also on Wednesday, another suspect in the shooting and robbery, 20-year-old Jaylin White, pleaded no contest to one count of second-degree robbery and was sentenced to four years in prison, the L.A. County District Attorney's Office said. All other charges against White were dismissed, the DA's office said.On Feb 24, 2021, Fischer was walking Lady Gaga's three French bulldogs when a sedan pulled up alongside him, two suspects emerged and stole two of the bulldogs, Gustave and Koji. During the chaos, as Fischer was trying to fight the men off, he was shot once in the chest. The incident was caught on surveillance video. The third bulldog, Miss Asia, ran away but was later found safe. Lady Gaga, who was shooting a movie in Italy, offered a $500,000 reward for the safe return of her dogs and praised Fischer, saying he risked his life ""to fight for our family. You're forever a hero."" Two days after the attack, Gustave and Koji were turned in by one of the suspects, police said.  In: Los Angeles Shooting Lady Gaga Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Suspect in L.A. shooting of Lady Gaga's dog walker recaptured after being accidentally released from jail.
"Talk of a potential listing for Burjeel Holdings comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year.Bloomberg | Bloomberg | Getty ImagesDUBAI, United Arab Emirates — Indian billionaire Shamsheer Vayalil is accelerating plans to take the Emirates-based hospital group public after posting record full-year revenues and profit.Burjeel Holdings, which operates 16 hospitals, 23 medical centers and 15 pharmacies in the UAE and Oman, reported record full-year 2021 revenue of 3.35 billion UAE dirhams ($912m) and a profit for the year of 234 million UAE dirhams, according to a statement released Thursday.Burjeel said it reported EBITDA (earnings before interest, taxes, depreciation, and amortization) of 779 million UAE dirhams in the 12 months through to Dec. 31 last year.The figures offer the first look into the performance of the hospital group wholly owned by Vayalil — a radiologist who started with a single hospital in 2007. Burjeel, a spinoff of his VPS Healthcare business, now employs more than 1,200 doctors and its portfolio of assets includes Burjeel Medical City in Abu Dhabi, one of the largest private hospitals in the country.""We are looking at the next phase of growth,"" Vayalil told CNBC as the potential listing plans take shape.Burjeel has appointed JP Morgan, Emirates NBD, EFG-Hermes, and Dubai Islamic Bank as joint global coordinators for the listing, possibly on the Abu Dhabi bourse, as soon as this year. Burjeel said discussions about a transaction were ongoing and details on the size of the offer and valuation are under review. A final decision has not been made.Health checkAny listing will be a significant test of investor appetite in the sector following the collapse of NMC Health, once touted as the largest private healthcare company in the UAE. NMC was the first company from Abu Dhabi to list on the London Stock Exchange, but delisted in April 2020 and restructured after an alleged fraud that revealed billions in undisclosed debts.NMC administrators took legal action against EY for alleged negligence in auditing the business before the collapse. EY denies any wrongdoing.Talk of a potential listing comes as the Emirates benefits from a Middle East IPO boom, with Abu Dhabi and Dubai taking several government entities public this year. A Burjeel Holdings listing, if successful, would mark a rare milestone as the first privately held business to go public in the recent government listing wave.""The macroeconomics for us are right, and unless something changes drastically that is not in our hands, we feel very positive about what we are doing, and we are confident that our story is right,"" Vayalil said.Targeting scale""Healthcare is a basic need, and that need is going to grow,"" Vayalil said, describing Burjeel Holdings as ""fit for scale"" with operations targeting several socio-economic demographics across its five brands, including Burjeel Hospitals, Medeor Hospital, LLH Hospital, Lifecare Hospital, and Tajmeel — a medical center operator.Vayalil said he plans to focus on service expansion in the UAE, where Burjeel already has a 17% inpatient market share, and would also target what he sees as growing demand for medical tourism in the country.""What we have to build is more trust for people to believe that this place can offer what is available anywhere in the world,"" Vayalil said. ""If we can stop or reduce people traveling about for treatment, that is one parameter that I focus on,"" he added.",UAE hospital group Burjeel posts record full-year revenues ahead of a potential IPO.
"The logo of Bayer AG is pictured on the facade of the historical headquarters of the German pharmaceutical and chemical maker in Leverkusen, Germany, April 27, 2020. REUTERS/Wolfgang RattayRegister now for FREE unlimited access to Reuters.comFRANKFURT, Aug 4 (Reuters) - Agriculture and pharmaceuticals company Bayer (BAYGn.DE) on Thursday lifted its 2022 earnings guidance on strong demand from farmers for its seeds and crop chemicals and higher sales of consumer health products.Bayer is now targeting earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items, of about 13 billion euros ($13.21 billion), based on June 30 foreign exchange rates, where it had previously predicted about 12 billion euros, it said in a statement.Bayer, which has been hit by litigation costs over claims that a weedkiller it acquired under its Monsanto takeover causes cancer, said that second-quarter adjusted EBITDA jumped 30% to 3.35 billion euros, above an average analyst estimate of 3.28 billion euros posted on the company's website.Register now for FREE unlimited access to Reuters.comPrices of agricultural commodities, such as corn and soy have surged globally after Russia's invasion of Ukraine disrupted farming and grain transport there, prompting farmers elsewhere to use more chemicals and seeds to boost output.The crop science division, which generated the bulk of Bayer's earnings during the first half of the year, saw adjusted EBITDA surge by more than 70% to 1.75 billion euros in the second quarter, beating a market consensus of 1.56 billion euros.By contrast, a litigation settlement and write-downs resulted in a net loss of almost 300 million euros for the quarter, where analysts had projected a net profit of about 1.5 billion, hit by special charges of 2.1 billion euros.That included 694 million euros set aside for an expected settlement with the State of Oregon over waste water contaminated with PCB, a chemical Monsanto produced up until 1977.Other charges included restructuring measures and write-downs on certain assets due to a strong rise in interest rates.($1 = 0.9842 euros)Register now for FREE unlimited access to Reuters.comReporting by Ludwig Burger, editing by Rachel More, Maria Sheahan and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.","Bayer's agriculture unit, consumer health drive outlook hike."
"A healthcare worker administers the Pfizer coronavirus disease (COVID-19) vaccine to a man, amidst the spread of the SARS-CoV-2 variant Omicron, in Johannesburg, South Africa, December 9, 2021. REUTERS/Sumaya Hisham/File PhotoRegister now for FREE unlimited access to Reuters.comJOHANNESBURG, Aug 4 (Reuters) - South Africa's health regulator reported on Thursday a causal link between the death of an individual and Johnson & Johnson's (J&J) (JNJ.N) COVID-19 vaccine, the first time such a direct link has been made in the country.The person presented with rare neurological disorder Guillain-Barre Syndrome soon after being given J&J's vaccine, after which the person was put on a ventilator and later died, senior scientists told a news conference.""At the time of illness no other cause for the Guillain-Barre Syndrome (GBS) could be identified,"" Professor Hannelie Meyer said.Register now for FREE unlimited access to Reuters.comThe person's age and other personal details were not disclosed for confidentiality reasons.Last July, U.S. authorities added a warning to a factsheet for J&J's vaccine saying data suggested there was an increased risk of GBS in the six weeks after vaccination. At the time it noted 100 preliminary reports of GBS in vaccine recipients, including 95 serious cases and one reported death. read more J&J did not immediately respond to an emailed request for comment. The company said at the time of the U.S. warning it was in discussions with regulators and the rate of reported cases of GBS in J&J vaccine recipients exceeded the background rate only slightly. read more ""The benefit of vaccination still far outweighs the risk,"" Boitumelo Semete-Makokotlela, chief executive of the South African Health Products Regulatory Authority (SAHPRA), told reporters.""In our context we have administered about 9 million (doses) of the Janssen (J&J) vaccine, and this is the first causally linked case of GBS.""Europe's medicines regulator last year added GBS as a possible side-effect of AstraZeneca's COVID vaccine which, like J&J's, uses viral vector technology. read more South Africa's Health Minister Joe Phaahla told Thursday's news conference that as of mid-July there had been just over 6,200 ""adverse events"" reported to SAHPRA out of the more than 37 million COVID vaccine doses administered in the country, equivalent to 0.017%.Semete-Makokotlela said the regulator had assessed around 160 deaths since the COVID vaccination rollout started but had not seen a causal link to vaccination until now.South Africa has been using shots from J&J and Pfizer in its COVID vaccination campaign. The rollout got off to a slow start due to difficulties securing supplies and protracted negotiations with pharmaceutical companies, but more recently it has been slowed by hesitancy.Around 46% of its adult population of 40 million is now fully vaccinated.Register now for FREE unlimited access to Reuters.comReporting by Alexander Winning
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.",South Africa reports first death causally linked to COVID vaccine.
"People walk by the New York Stock Exchange on May 12, 2022 in New York City.Spencer Platt | Getty Images News | Getty ImagesInvestment bankers hit with a collapse in equity and debt issuance this year are in line for bonuses that are up to 50% smaller than 2021 — and they are the lucky ones.Pay cuts are expected across wide swaths of the financial industry as bonus season approaches, according to a report released Thursday by compensation consultancy Johnson Associates.Bankers involved in underwriting securities face bonus cuts of 40% to 45% or more, according to the report, while merger advisors are in line for bonuses that are 20% to 25% smaller. Those in asset management will see cuts of 15% to 20%, while private equity workers may see declines of up to 10%, depending on the size of their firms.""There are going to be a lot of people who are down 50%,"" Alan Johnson, managing director of the namesake firm, said in an interview. ""What's unusual about this is that it comes so soon after a terrific year last year. That, plus you have high inflation eating into people's compensation.""Wall Street is grappling with steep declines in capital markets activity as IPOs slowed to a crawl, the pace of acquisitions fell and stocks had their worst first half since 1970. The moment epitomizes the feast-or-famine nature of the industry, which enjoyed a two-year bull market for deals, fueled by trillions of dollars in support for businesses and markets unleashed during the pandemic.In response, the six biggest U.S. banks added a combined 59,757 employees from the start of 2020 through the middle of 2022, according to company filings.Now, they may be forced to cut jobs as the investment banking outlook remains gloomy.""We will have layoffs in some parts of Wall Street,"" Johnson said, adding that job cuts may amount to 5% to 10% of staff. ""I think many firms will want their headcount to be lower by February than it was this year.""Another veteran Wall Street consultant, Octavio Marenzi of Opimas, said that July was even worse than the preceding months for equities issuance, citing data from the Securities Industry and Financial Markets Association.IPO issuance has plunged 95% to $4.9 billion so far this year, while total equity issuance has fallen 80% to $57.7 billion, according to SIFMA.""You can expect to hear announcements regarding layoffs in the next few weeks,"" Marenzi said. ""There is no indication that things are about to improve in investment banking.""The news hasn't been uniformly bad, however. Firms will have to boost workers' base salary by roughly 5% because of wage inflation and retention needs, Johnson said.What's more, there have been sections of Wall Street that have thrived in the current environment. High volatility and choppy markets may dissuade corporations from issuing debt, but it's a good setup for fixed income traders.Bond traders and sales personnel will see bonuses rise by 15% to 20%, while equities trading staff could see increases of 5% to 10%, according to the report. Traders at hedge funds with a macro or quantitative strategy could see bonuses rise by 10% to 20%.Investment banks, hedge funds and asset managers rely on consultants to help them structure bonuses and severance packages by giving them insight into what competitors are paying.Johnson Associates uses public data from banks and asset management firms and proprietary insights from clients to calculate the projected year-end incentives on a headcount-adjusted basis.""My clients realize it will be a very difficult year,"" Johnson said. ""The challenge is how you communicate this and make sure the right people get paid.""","Job cuts and smaller bonuses loom for Wall Street bankers as markets tank, consultant says."
"The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 18, 2022. REUTERS/StaffRegister now for FREE unlimited access to Reuters.comSummaryCompaniesMarket bets on 50bp hike by Bank of EnglandFed official: 50bp hike in Sept ""reasonable""Oil rebounds from six-month lowLufthansa returns to operating profitCredit Agricole sees profits jumpLONDON, Aug 4 (Reuters) - Strong earnings at Credit Agricole and Lufthansa lifted stocks on Thursday as tension over Nancy Pelosi's visit to Taiwan eased and markets bet the Bank of England will hike interest rates by the largest amount since 1995 to quell inflation.The STOXX (.STOXX) index of leading European companies gained 0.33% after German airline Lufthansa (LHAG.DE) returned to an operating profit, while French bank Credit Agricole joined the growing roster of better-than-expected earnings at banks. read more Shares in Hong Kong (.HSI) rose 2%, tracking broader gains in Asia (.MIAP00000PUS), reeling in some of the losses suffered after Sino-U.S. frictions flared over a visit to Taipei this week by House of Representatives Speaker Pelosi, which angered China. read more Register now for FREE unlimited access to Reuters.comOil prices rebounded from six-month lows, while the dollar was underpinned by U.S. Federal Reserve officials pushing back against suggestions they will slow the pace of interest rate hikes, with one saying a 50 basis point hike would be ""reasonable"". read more After large interest rate hikes by Fed and the European Central Bank to stop decades-high rises in prices, investors expect the Bank of England to follow suit with a 50 basis point increase when it announces the outcome of its monetary policy meeting at 1100 GMT. read more Sterling could struggle in the absence of a hawkish surprise - especially as the British economic outlook is looking weak while U.S. data has offered some upside surprises.Sterling was trading at $1.2162, up slightly on the day.""People are leaning towards a 50 basis point rise, a split decision probably. Then it's really a matter of how to see the outlook going forward,"" said Michael Hewson, chief markets analyst at CMC Markets.""The UK economy is going into recession and there is nothing they can do about that and the Bank of England's primary focus should be on pulling inflation down from its current levels, and frontload like the Fed is doing,"" Hewson said.A survey from the European Central Bank showed that consumers in the euro zone are bracing for the economy to shrink and for high inflation to continue. read more S&P 500 futures were little changed ahead of Wall Street's open, with Friday's non-farm payrolls a key piece of data for the week.Central Bank Policy RatesNO EARNINGS RESET YETKasper Elmgreen, head of equities at asset manager Amundi, said the illusion that decades-high inflation would be transitory was now firmly gone as fuel bills surge and companies have difficulties finding staff.""The big picture here is that it's going to require quite a lot to restore price stability. The risk here is that we underestimate how powerful a force it is we are dealing with,"" Elmgreen said.The second quarter earnings season now underway has not provided a major ""reset"" to what Elmgreen sees as still too high earnings expectations for 2022 overall given the economy is slowing.""I think that might come in the third quarter or fourth quarter as we start to see more demand impact,"" Elmgreen said.An ISM survey on Wednesday showed the U.S. services industry unexpectedly picked up in July, prompting a sell-off in bonds and rallies for U.S. stocks and the dollar, with the Nasdaq (.IXIC) up 2.5% to a three-month high. read more Fed officials have provided a hawkish chorus this week, battering the short end of the yield curve. Two-year Treasury yields were trading at 3.1040%, while the benchmark 10-year year yields traded at 2.7318%, both slightly weaker.The dollar has halted a decline that began in the middle of July, with support from both hike expectations and heightened political tension.Fed funds futures remain priced for rate cuts to be under way by the middle of next year and the inversion of the U.S. yield curve, with 10-year yields below two-year yields, suggests investors think that the hiking path will hurt growth.""I think the market's going to remain choppy,"" said David Ratliff, head of banking and capital markets for Asia Pacific at Wells Fargo in Hong Kong. ""People are starting to read through the current round and pace of Fed tightening.""The dollar index was trading at 106.30, down 0.169%. A euro weighed by Europe's energy crisis bought $1.0185.Brent crude futures were slightly weaker at $96.75 a barrel as supply concerns triggered a rebound from multi-month lows on Wednesday after U.S. data signalled weak fuel demand. read more Spot gold rose 0.5% to $1,773 an ounce.Register now for FREE unlimited access to Reuters.comReporting by Tom Westbrook in Singapore and Kevin Buckland; Editing by Kim Coghill and Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Stocks steady as markets bet on hefty Bank of England hike.
"A woman shops at Campo de' Fiori market, on the day the European Central Bank's rate-setting Governing Council holds an unscheduled meeting to discuss the recent sell-off in government bond market, in Rome, Italy, June 15, 2022. REUTERS/Guglielmo MangiapaneRegister now for FREE unlimited access to Reuters.comSummaryItaly set to end unilateral changes in retail energy contractsDecree funds raft of tax breaks and bonuses, raises pensionsCut on fuel excise duties extended to Sept. 20ROME, Aug 4 (Reuters) - Italy plans to approve on Thursday a new aid package worth around 14.3 billion euros ($14.5 billion) to help shield firms and families from surging energy costs and consumer prices, government officials said.The scheme, one of the last major acts of outgoing Prime Minister Mario Draghi before a national election next month, comes on top of some 33 billion euros budgeted since January to soften the impact of sky-high electricity, gas and petrol costs.A draft decree seen by Reuters showed that Rome planned to extend to the fourth-quarter of this year existing measures aimed at cutting electricity and gas bills for low-income families as well as reducing so-called ""system-cost"" levies.Register now for FREE unlimited access to Reuters.comDesigned to help finance initiatives ranging from solar power subsidies to nuclear decommissioning, the levies typically accounted for more than 20% of Italian energy bills before the government started to act.Among a raft of measures, the government will extend a 200 euro bonus paid in July to low and middle-income Italians to workers who did not previously receive it.A cut in excise duties on fuel at the pump scheduled to expire on Aug. 21 is set to be extended to Sept. 20.Rome is also considering preventing energy companies from making unilateral changes to electricity and gas supply contracts for households until October, according to the draft.With tax revenues doing better than forecast, funding for the package will not drive up the public deficit target, which Rome last week confirmed at 5.6% of national output this year.Some 1.6 billion euros will go to reducing in the second half of this year the so-called tax wedge, the difference between the salary an employer pays and what a worker takes home, with the benefit going to employees with an annual income worth less than 35,000 euros.The Organisation for Economic Cooperation and Development (OECD) estimated that in 2021 the average single worker in Italy lost 46.5% of his gross salary in taxes and social contributions, the fifth-highest ratio out of a group of 38 advanced nations.To support purchasing power of elderly people, the government will bring forward to the fourth quarter of 2022 a 2% revaluation of pensions scheduled for 2023, at a cost for state coffers of around 2.4 billion euros.($1 = 0.9835 euros)Register now for FREE unlimited access to Reuters.comEditing by Keith WeirOur Standards: The Thomson Reuters Trust Principles.",Italy to approve $14.5 billion package against inflation.
"U.S. Secretary of State Antony Blinken meets with Cambodian Prime Minister Hun Sen, at the Peace Palace in Phnom Penh, Cambodia, August 4, 2022. Andrew Harnik/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comPHNOM PENH, Aug 4 (Reuters) - U.S. Secretary of State Antony Blinken on Thursday told Cambodian Prime Minister Hun Sen that Washington wanted a ""strong, positive relationship"" between their two countries.The United States and Cambodia have had a frosty relationship in recent years, with Washington fiercely critical of Hun Sen's ongoing crackdown on his political opposition and increasingly wary of his increasing engagement with China's military.Register now for FREE unlimited access to Reuters.comReporting by David Brunnstrom; Writing by Martin Petty; Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.","Blinken says U.S. wants 'strong, positive' ties with China ally Cambodia."
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - U.S. Congresswoman Jackie Walorski and two members of her staff died on Wednesday when the vehicle they were traveling in collided head-on with a car that veered into their lane, police in Indiana and her office said.Walorski, 58, a Republican who represented Indiana's 2nd congressional district in the U.S. House of Representatives, was mourned by President Joe Biden and her colleagues in Congress as an honorable public servant who strived to work across party lines to deliver for her constituents. The White House said it would fly flags at half-staff in her memory.The congresswoman had been traveling down an Indiana road on Wednesday afternoon with her communications chief, Emma Thomson, 28, and one of her district directors, Zachery Potts, 27, the Elkhart County Sheriff's Office said.Register now for FREE unlimited access to Reuters.com""A northbound passenger car traveled left of center and collided head on"" with Walorski's vehicle, killing all three occupants, the sheriff's office said. The driver of the other car, 56-year-old Edith Schmucker, was pronounced dead at the scene, near the northern Indiana town of Nappanee, it added.Confirming her death in a statement shared on Twitter by House Republican leader Kevin McCarthy, Walorski's office said: ""Dean Swihart, Jackie's husband, was just informed by the Elkhart County Sheriff's office that Jackie was killed in a car accident this afternoon.""Rep. Jackie Walorski (R-IN) speaks as U.S. Secretary of Health and Human Services Alex Azar testifies to the House Select Subcommittee on the coronavirus disease (COVID-19) crisis, on Capitol Hill in Washington, U.S., October 2, 2020. J. Scott Applewhite/Pool via REUTERSIt added: ""Please keep her family in your thoughts and prayers. We will have no further comment at this time.""Walorski was a lifelong resident of Indiana, according to her official biography. She served on the House Ways and Means Committee and was the top Republican on the subcommittee on worker and family support.Prior to her election in 2012 to the House, Walorski served three terms in the Indiana legislature, spent four years as a missionary in Romania along with her husband and worked as a television news reporter in South Bend, according to a biography posted on her congressional website.President Joe Biden, a Democrat, said he and Walorski ""may have represented different parties and disagreed on many issues, but she was respected by members of both parties for her work on the House Ways and Means Committee on which she served.""Nancy Pelosi, the Democratic speaker of the House, said in a statement that Walorski ""passionately brought the voices of her north Indiana constituents to the Congress, and she was admired by colleagues on both sides of the aisle for her personal kindness.""Register now for FREE unlimited access to Reuters.comReporting by Rami Ayyub, Eric Beech, Dan Whitcomb, Costas Pitas and Frank McGurty; Editing by Leslie Adler and David GregorioOur Standards: The Thomson Reuters Trust Principles.","U.S. lawmaker Walorski, two staffers die in Indiana car crash."
"Kenya's opposition leader and presidential candidate Raila Odinga of the Azimio la Umoja (Declaration of Unity) coalition, joins performers at a campaign rally ahead of the forthcoming general election at the Kirigiti Stadium in Kiambu, Kenya August 1, 2022. REUTERS/Monicah Mwangi/File PhotoRegister now for FREE unlimited access to Reuters.comNAIROBI, Aug 4 (Reuters) - Kenya holds a presidential election on Aug. 9 with opinion polls predicting a tight race between veteran opposition leader Raila Odinga and serving Deputy President William Ruto.Incumbent President Uhuru Kenyatta, constitutionally barred from seeking a third five-year term, has publicly criticised his deputy and endorsed Odinga. read more Kenyatta's Kikuyu ethnic group, the nation's most populous, has produced three of four presidents since independence from Britain in 1963, but does not have a presidential candidate this time. Recognising the importance of ethnic voting blocs, both frontrunners have picked a Kikuyu vice president.Register now for FREE unlimited access to Reuters.comPresidential candidates George Wajackoyah and David Mwaure Waihiga are polling in low single-digit numbers, but votes going their way might mean neither Odinga nor Ruto secure a majority, pushing the race to a second round.WILLIAM RUTORuto heads the Kenya Kwanza (Kenya First) Alliance and served as a lawmaker and minister for agriculture before becoming deputy president.In the 2007 election, Ruto sided with Odinga and lost. Around 1,200 people were killed in the violence that followed.He was later charged with crimes against humanity at the International Criminal Court for his alleged role in the violence, but the case collapsed. He denied any wrongdoing.In 2013 and 2017, he teamed up with Kenyatta to defeat Odinga.An eloquent orator, 55-year-old teetotaller Ruto has pledged to boost spending for small farmers and private businesses, and reform national health insurance and social security funds.Ruto portrays himself as a former roadside chicken seller representing working-class ""hustlers"" against wealthy political ""dynasties"". read more RAILA ODINGAOdinga is running for president under the Azimio La Umoja (Declaration of Unity) Alliance, which includes Kenyatta's Jubilee party. Odinga is the son of the nation's first vice president, while Kenyatta is the son of the first president.A former political prisoner, Odinga says the last three elections were stolen from him. Deadly violence followed the disputed 2007 and 2017 votes.Odinga has pledged to stamp out widespread graft and give a monthly stipend to the unemployed, universal healthcare and free education to all. He named his eldest son Fidel in a nod to his left-wing sympathies.His political heartland is in western Kenya, whose residents have in the past complained of neglect by the government due to their support for the opposition.GEORGE WAJACKOYAHWajackoyah, 63, who describes himself as a lawyer, academic and former spy, is running under the Roots Party of Kenya banner.He pledges to legalise cultivating marijuana for industrial and medicinal use, and export hyena testicles and snake venom to help pay Kenya's external public debt.He also plans to suspend parts of the constitution for six months and hang anyone convicted of corruption.He has attracted some young voters and enraged many religious leaders.DAVID MWAURE WAIHIGAWaihiga, also a lawyer, is running on the Agano Party of Kenya ticket.He pledges to tackle government graft, and publish the government contracts for major infrastructure projects such as railways, ports and highways.Register now for FREE unlimited access to Reuters.comReporting by George Obulutsa; Editing by Katharine Houreld and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Factbox: Kenya's 2022 presidential election contenders.
"The logo of Korean Airlines is seen on a B787-9 plane at its aviation shed in Incheon, South Korea, February 27, 2017. REUTERS/Kim Hong-Ji/File Photo Register now for FREE unlimited access to Reuters.comSEOUL, Aug 4 (Reuters) - South Korea's Korean Air Lines (003490.KS) and Asiana Airlines (020560.KS) are cancelling flights to Taiwan for one or two days because of Chinese military exercises in the area, local media reported on Thursday,Korean Air canceled flights between Incheon and Taiwan on Friday and Saturday, while Asiana Airlines canceled Friday's direct flight to Taiwan and will monitor the situation, news agency News1 and other local media reported.Spokespeople for Korean Air and Asiana could not be immediately reached.China launched unprecedented live-fire military drills in six areas that ring Taiwan on Thursday, a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that Beijing regards as its sovereign territory. read more Register now for FREE unlimited access to Reuters.comReporting by Joyce Lee; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.","S.Korean airlines temporarily cancel flights to Taiwan, media says."
"Zalando packaging from an online delivery is seen discarded in a cardboard box in Galway, Ireland, August 27, 2020. REUTERS/Clodagh Kilcoyne/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesGross merchandise volume flat at 3.8 bln eurosSales down 4% to 2.6 bln eurosAdjusted operating profit 77.4 mln euros, down 58%Shares indicated 1.7% higher in pre-marketBERLIN, Aug 4 (Reuters) - Online fashion retailer Zalando (ZALG.DE) on Thursday reported a 58% drop in second-quarter operating profit and lower sales but said it expected to return to growth and improved profitability in the second half of the year.Zalando's gross merchandise volume was flat at 3.8 billion euros ($3.86 billion) in the quarter compared with the same period last year, while sales fell by 4% to 2.6 billion euros.Adjusted operating profit (EBIT) dropped to 77.4 million euros from 184.1 million but marked a rebound from a first quarter loss of 52 million euros.Register now for FREE unlimited access to Reuters.comThe company cited lower consumer confidence, inflation and supply bottlenecks hitting demand after the coronavirus pandemic helped it record a bumper year in 2021.""Life is becoming more expensive and consumers are reluctant to consume. We feel that,"" co-CEO Robert Gentz said on Thursday.Europe's largest fashion online retailer said the number of its active customers grew by 11% on the year to over 49 million euros, while the membership of its loyalty program, Zalando Plus, rose by 164% in the quarter to more than 1.5 million.To cut costs, the company said it had reduced marketing spending, introduced a minimum order value and was improving efficiency across its European logistics network.""We are focused on efficiency and margin improvement measures that will help us strengthen our profitability in the second half of the year,"" Chief Financial Officer Sandra Dembeck said in a statement.Zalando confirmed guidance lowered in June, forecasting a sales increase between 0% and 3% and an adjusted EBIT of 180 million to 260 million euros.Shares in Zalando were indicated to rise by 1.7% at Lang & Schwarz in pre-market trade.($1 = 0.9841 euros)Register now for FREE unlimited access to Reuters.comReporting by Riham Alkousaa and Nadine Schimroszik; editing by Maria Sheahan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",Zalando expects return to growth in H2 after weak Q2.
"Zaporizhzhia Nuclear Power Plant is seen from an embankment of the Dnipro river in the town of Nikopol, as Russia's attack on Ukraine continues, in Dnipropetrovsk region, Ukraine July 20, 2022. REUTERS/Dmytro SmolienkoRegister now for FREE unlimited access to Reuters.comZURICH, Aug 4 (Reuters) - The head of the United Nations nuclear watchdog appealed for access to a Ukrainian nuclear power plant now controlled by Russian forces to determine whether it was a source of danger.
Contact with the Europe's largest nuclear plant, which is at Zaporizhzhia and is being operated by Ukrainian technicians, was ""fragile"" and communications did not function every day, International Atomic Energy Agency (IAEA) head Rafael Grossi told Swiss paper Tages-Anzeiger.""We can't afford faulty communication with the plant in areas relevant to safety. We know of allegations that live ammunition is stored in the plant, that there are attacks on the power plant,"" he said in interview published in German.""Frankly, if I don't have access, I can't determine that. There are contradictions between the accounts of the Russian and Ukrainian sides. I receive information, I also mention it in my situation reports, but I have no way of determining whether it corresponds to the facts.""Register now for FREE unlimited access to Reuters.comA Russian-installed official in Ukraine said on Wednesday that Ukrainian forces had repeatedly used Western arms to attack the plant, which has two of six reactors operating and has been the subject of repeated warnings from Ukraine, the West and Russia. read more U.S. Secretary of State Antony Blinken on Monday called Russia's actions around the plant ""the height of irresponsibility"", accusing Moscow of using it as a ""nuclear shield"" in attacks on Ukrainian forces.Reuters was unable to verify battlefield accounts from either side of the war.Grossi said the UN discussions with parties to the conflict covered a proposed accord on security zones around nuclear plants but he saw no willingness to strike a deal at this stage.Access to the plant was difficult and overland travel through occupied territory would require special security arrangements, he said. Talks with the Ukrainian government on arranging a visit were under way.The agency has at times reported losing connection with surveillance systems that keep track of nuclear material at the power plant.Register now for FREE unlimited access to Reuters.comReporting by Michael Shields; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",U.N. watchdog appeals for access to Ukrainian nuclear plant - paper.
"A view shows the ship ""Laodicea"" docked at port of Tripoli in northern Lebanon, July 29, 2022. REUTERS/Walid SalehRegister now for FREE unlimited access to Reuters.comKYIV, Aug 4 (Reuters) - Ukraine called on Lebanon on Thursday to reverse a decision by a court in Tripoli to authorise the departure of a seized Syrian ship carrying what Kyiv says is stolen Ukrainian grain.In a statement, the Ukrainian foreign ministry said it was disappointed by the court's decision to clear the Syrian-flagged Laodicea for departure and said that Kyiv's position had not been taken into account. read more Register now for FREE unlimited access to Reuters.comReporting by Natalia Zinets; writing by Tom Balmforth; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.",Ukraine tells Lebanon to reverse decision to clear grain shipment for travel.
"Phil Mickelson of the U.S. during the inaugural LIV Golf Invitational at the Centurion Club, Hemel Hempstead, St Albans, Britain, June 8, 2022Paul Childs | Action Images via ReutersAdidas CEO Kasper Rorsted believes the controversial Saudi Arabia-backed LIV Golf series is part of a ""normal evolution"" of the sport and said the German sportswear giant will continue to focus on partnerships with individual players.The PGA Tour has suspended many of its big names over their participation in the breakaway competition, which is in its inaugural season and has caused friction throughout the golfing world after attracting players with enormous fees.LIV is being bankrolled by Saudi Arabia's sovereign wealth fund, and critics accuse the series of serving to enhance the kingdom's image despite persistent concerns about human rights violations and potential ties to 9/11 plotters.The PGA Tour now faces an antitrust lawsuit from 11 players who joined the LIV series, including Phil Mickelson and Ian Poulter, over their suspension from the traditional North American tour.Golfing legend and 15-time major champion Tiger Woods turned down an offer in the region of $700 million to $800 million to join LIV Golf, its CEO revealed on Monday, having voiced his disapproval of the series at last month's Open Championship.Speaking to CNBC's ""Squawk Box Europe"" on Thursday following Adidas' quarterly earnings report, Rorsted said no decision had yet been made on whether the company would sponsor a team in the LIV series.Asked for his opinion on the rebel tour, he said: ""We think it is a normal evolution that is going on, and eventually it is the bodies who need to decide what they do. We have the same conversation when you look upon the Champions League or the World Cup with UEFA or FIFA.""Rorsted added that Adidas wants to ""remain a sponsor of the individual.""""We have a very strong point of view of the players, and in essence, we want to make certain that we partner with the best player — we think that is how easy that is.""Adidas on Thursday posted a 28% year-on-year decline in operating profit for the second quarter, as a suspension of business in Russia, higher supply chain costs and Covid-19 lockdowns in China dented earnings despite continued strength in North America.","Adidas boss says LIV Golf a 'normal evolution,' wants to focus on player partnerships."
"People with shopping bags walk near a shopping center, amid the coronavirus disease (COVID-19) pandemic, in Berlin, Germany December 21, 2021. REUTERS/Annegret HilseRegister now for FREE unlimited access to Reuters.comFRANKFURT, Aug 4 (Reuters) - Consumers in the euro zone are bracing for the economy to shrink and for high inflation to continue eating into their income in the next year, a European Central Bank survey showed on Thursday.The Consumer Expectations Survey, used by policymakers for input in their deliberations and published on Thursday for the first time, showed households were beginning to lose faith in the ECB's ability to bring inflation back down to its 2% goal.The poll, carried out in June, showed the median consumer expected prices to grow by 5% over the following year and saw inflation at 2.8% in three years' time.Register now for FREE unlimited access to Reuters.comThis compares to expectations for nominal income to grow by 0.9% and spending by 3.9%, implying a large dent in households' ability to save.Consumers also expected the economy to contract by 1.3% in the coming 12 months.By comparison, the ECB expects inflation to average 6.8% in 2022 before falling to 3.5% in 2023 and 2.1% in 2024. It sees growth at 3.7% this year, 2.8% next year and 1.6% in 2024.The ECB raised interest rate by 50 basis points last month and guided for more hikes in the months ahead to fight record-high euro zone inflation, which hit 8.9% last month.It cited ""anchoring...inflation expectations"" as one of the reasons for the move.For the survey, the ECB interviews around 14,000 adults each month from Belgium, Germany, Spain, France, Italy and the Netherlands. These countries represent 85% of the euro area's GDP and 83.8% of its population.Register now for FREE unlimited access to Reuters.comReporting By Francesco Canepa
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Euro zone consumers brace for recession and high inflation - ECB survey.
"Satellite model is placed on Intelsat logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Luxembourg-based satellite group SES SA is in talks to merge with its U.S. rival Intelsat SA, the Financial Times reported on Thursday, signaling consolidation in the rapidly changing and competitive industry.Last week, French satellite company Eutelsat (ETL.PA) said it was in talks over a possible all-share merger with British rival OneWeb. read more Elon Musk's SpaceX has raced ahead of rivals to build a constellation of satellites by investing heavily in infrastructure and recently broke its record of the number of rockets launched in a single year.Register now for FREE unlimited access to Reuters.comIntelsat and SES are in active discussions about the structure of any potential deal, the FT report said, citing three people familiar with the matter, adding that the discussions were at an early stage and there is no guarantee of a deal being reached. (https://on.ft.com/3cTBQpY)""Neither wants to be the last one standing,"" the report quoted one of the three persons as saying.SES, which has a market capitalisation of 3.57 billion euros ($3.63 billion) according to Refinitiv Eikon data, declined to comment on the report, while Intelsat did not immediately respond to Reuters' request for comment.In May, SES said it expects demand for its services in Ukraine to have a positive effect on its second-half revenue, after reporting stronger-than-expected quarterly earnings.($1 = 0.9841 euros)Register now for FREE unlimited access to Reuters.comReporting by Kanjyik Ghosh in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.",Satellite operators SES and Intelsat in merger talks - FT.
"U.S. House of Representatives Speaker Nancy Pelosi and South Korea's National Assembly Speaker Kim Jin-pyo (not pictured) attend a joint news announcement in Seoul, South Korea August 4, 2022. Kim Min-Hee/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comSEOUL, Aug 4 (Reuters) - South Korea's President Yoon Suk-yeol said on Thursday U.S. House of Representatives Speaker Nancy Pelosi's planned visit to the heavily fortified inter-Korean border area reflects strong deterrence against North Korea, media outlet News1 reported.Pelosi arrived in Seoul late on Wednesday for talks with her South Korean counterpart, during which she vowed to support efforts to denuclearise North Korea. read more Register now for FREE unlimited access to Reuters.comReporting by Soo-hyang Choi; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",S.Korea president calls Pelosi border visit strong deterrence against N.Korea.
"The Toyota emblem is seen on the tyre rim of a vehicle during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge SilvaRegister now for FREE unlimited access to Reuters.comSummaryCompaniesQ1 operating profit 578.66 bn yen vs 997.4 bln yen yr-agoHit from global chip shortage, COVID curbs in ChinaSticks to FY profit, output forecasts citing strong demandRaises FY materials costs estimate by 17%; shares drop 3%TOKYO, Aug 4 (Reuters) - Toyota Motor Corp's (7203.T) profit slumped a worse-than-expected 42% in its first quarter as the Japanese automaker was squeezed between supply constraints and rising costs.Operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year ago, Toyota said on Thursday, capping a tough period. It has repeatedly cut monthly output goals due to the global chip shortage and COVID-19 curbs on plants in China.The scale of the earnings hit was far beyond expectations - analysts polled by Refinitiv had estimated a 15% drop - and appeared to catch investors by surprise. Toyota's shares extended losses, sliding 3%.Register now for FREE unlimited access to Reuters.comDespite the grim quarter, the automaker stuck to both its forecast for full-year operating profit and its plan to produce 9.7 million vehicles this year, citing what it said was strong residual demand.Profit in the quarter was hit by constraints in supply, lower sales and a rise in materials costs, a Toyota spokesperson said.""We were not able to produce enough, with customers globally waiting for their vehicles to be delivered,"" the spokesperson said.Delivery times are longer for electrified vehicles because they require more semiconductors, the spokesperson added.Like other auto manufacturers, Toyota is grappling with higher costs and fears that global inflation could put the brakes on consumer demand.It expects material costs for the full year to increase by 17% to 1.7 trillion yen from its previous estimate - the majority of the increase reflecting a rise in the price of steel and aluminium.But Toyota's current production woes mark a departure from its initial success in navigating supply chain problems in the early stages of the pandemic.The carmaker cut its monthly production targets three times during the April-June quarter, falling 10% behind its initial goals, due to shortages of semiconductors and the impact of COVID-19 lockdowns in China. read more Toyota shares, which were down 0.5% just before the release of the earnings, extended losses immediately after and closed down 3% at 2,091 yen, while the benchmark Nikkei 225 index (.N225) was slightly firmer.($1 = 133.7200 yen)Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama; Editing by Kenneth Maxwell and David DolanOur Standards: The Thomson Reuters Trust Principles.","Toyota Q1 profit tumbles as supply constraints, costs bite."
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. Senate approved on Wednesday Finland and Sweden's accession to NATO, the most significant expansion of the 30-member alliance since the 1990s as it responds to Russia's invasion of Ukraine.The Senate voted 95 to 1 to support ratification of accession documents, easily surpassing the two-thirds majority of 67 votes required to support ratification of the two countries' accession documents.""This historic vote sends an important signal of the sustained, bipartisan U.S. commitment to NATO, and to ensuring our Alliance is prepared to meet the challenges of today and tomorrow,"" U.S. President Joe Biden said in a statement.Register now for FREE unlimited access to Reuters.comSweden and Finland applied for NATO membership in response to the Feb. 24 invasion. Russia has repeatedly warned both countries against joining the alliance.NATO's 30 allies signed the accession protocol for them last month, allowing them to join the U.S.-led nuclear-armed alliance once its members ratify the decision. read more At that point, Helsinki and Stockholm were able to participate in NATO meetings and have greater access to intelligence, but were not protected by Article Five, the NATO defense clause stating that an attack on one ally is an attack against all.A view of the flags of Finland, NATO and Sweden during a ceremony to mark Sweden's and Finland's application for membership in Brussels, Belgium, May 18, 2022. REUTERS/Johanna Geron/PoolThe accession must be ratified by the parliaments of all 30 North Atlantic Treaty Organization members before Finland and Sweden can be protected by the defense clause.Ratification could take up to a year, although it has already been approved by a few countries, including Canada, Germany and Italy.Senators from both parties strongly endorsed membership for the two countries, describing them as important allies whose modern militaries already worked closely with NATO.""The qualifications of these two prosperous, democratic nations are outstanding and will serve to strengthen the NATO alliance,"" said Democratic Senator Bob Menendez, chairman of the Foreign Relations Committee, urging support before the vote.Senate Majority Leader Chuck Schumer invited the ambassadors and other diplomats from Finland and Sweden to the Senate to watch the vote.Republican Senator Josh Hawley was the lone no vote. Republican Senator Rand Paul voted present.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle; additional reporting by Rose Horowitch and Jarrett Renshaw;
Editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","With eye on Russia, U.S. Senate backs Finland and Sweden joining NATO."
"Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comSHANGHAI, Aug 4 (Reuters) - Chinese chipmaker Yangtze Memory Technologies Co Ltd (YMTC) on Wednesday announced new memory chip technology that would help it catch up with rivals Micron and SK Hynix, just as Washington considers steeper curbs on Chinese semiconductor companies.The company unveiled its fourth-generation 3D NAND chip, the X3-9070, and its first to feature 232 layers of memory cells, government-backed media outlet Global Times reported on Wednesday.That places it close to rival Micron, which last month said it aimed to start mass production of its 232 layer chip by the end of the year. read more Register now for FREE unlimited access to Reuters.comSouth Korea's SK Hynix has also developed its first 238-layer memory chip, boasting a new industry benchmark. read more A YMTC spokesperson declined to comment on the Global Times report.Industry experts say that while YMTC will unlikely launch mass production of the chip any time soon, it nevertheless marks a breakthrough for the company.The company's market share remains in the single digits, but it is aggressively expanding production capacity and R&D with the help of state subsidies.Toby Zhu, who tracks China's chip sector at research firm Canalys, says that while the YMTC's revenue has improved over the years, gaps remain between it and market leaders.Once a little-known player backed by the ailing Chinese state-conglomerate Tsinghua Unigroup, YMTC has attracted attention in the chip industry for its fast advancements in R&D.Bloomberg reported in March that phone maker Apple Inc (AAPL.O) was considering using YMTC as a memory chip supplier, which would mark a major boon for the upstart company.Reuters reported earlier this week that Washington, citing a growing threat from China, is considering placing restrictions on companies that supply to YMTC, forbidding equipment makers from selling parts to the company that enable it to manufacture chips at 128 layers and above.The restrictions, if enacted, could rattle YMTC's ambitions to grow its business, not unlike how sanctions in 2020 rattled Chinese phone maker Huawei Technologies Co Ltd (HWT.UL)Register now for FREE unlimited access to Reuters.comReporting by Josh Horwitz; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",China's memory upstart YMTC edges closer to rivals with 232-layer chip.
"CBS Mornings August 3, 2022 / 1:01 PM / CBS News For the Miami Dolphins players, it's business as usual on the practice field as they prepare for their upcoming season.But behind the scenes, the NFL unleashed a bombshell punishment on the team and Miami Dolphins owner Stephen Ross for major tampering violations.An independent investigation found that the Dolphins tried to recruit quarterback Tom Brady on multiple occasions while he was under contract with other teams. An investigation also found that the Dolphins also made contact with an agent for former New Orleans head coach Sean Payton while he was with the Saints. The Dolphins will forfeit a first-round selection in the 2023 NFL draft and a third-round selection in the 2024 draft. Ross is suspended through Oct. 17 and will have to pay a $1.5 million fine. The investigation findings come after Cleveland Browns quarterback Deshaun Watson was suspended for six games after being accused by two dozen women in Texas of sexual misconduct during massage treatments. Conor Orr, a staff writer for Sports Illustrated, told CBS News that the NFL was put in a unique position dealing with both the Dolphins' tampering findings and Watson's suspension.""You don't normally see a commissioner come out in a disciplinary process like that and go after an owner the way that he did,"" Orr said. ""They were put in a corner in terms of they've never punished owners as much as they were trying to punish Deshaun Watson. Maybe this is why you're seeing such a change in tone from [Roger] Goodell and maybe this is why you're seeing the league be a little less afraid today in terms of being critical about other owners,"" Orr added.The investigation comes after former Dolphins head coach Brian Flores filed a racial discrimination lawsuit against the league. Flores told ""CBS Mornings"" in February that Ross offered to pay him $100,000 for every loss during the coach's first season because Ross wanted to protect the team's draft pick. ""This game changed my life. So, to attack the integrity of the game, that is what I felt was happening in that instance. And I would not stand for it,"" Flores told ""CBS Mornings.""But the league's investigation found the Dolphins did not intentionally lose games during the 2019 season.  Nor did anyone at the club, including Mr. Ross, instruct Coach Flores to do so."" But it notes Ross did express his belief that the team's draft position ""should take priority over the team's win-loss record.""In a statement, NFL commissioner Roger Goodell said ""even if made in jest and not intended to be taken seriously, comments suggesting that draft position is more important than winning can be misunderstood."" Ross says the league cleared the team of Flores' allegations. In a statement, Ross said he strongly disagrees with the conclusions and the punishment of the tampering investigation but he will accept the outcome.Flores, now an assistant coach with the Pittsburg Steelers, said in a statement, ""I am disappointed to learn that the investigator minimized Mr. Ross's offers and pressure to tank games especially when I wrote and submitted a letter at the time to Dolphins executives documenting my serious concerns regarding this subject at the time which the investigator has in her possession.""","""You're seeing the league be a little less afraid"" : Why punishing the Miami Dolphins owner sends a message in the NFL."
"FILE PHOTO - A PetroChina worker inspects a pump jack at an oil field in Tacheng, Xinjiang Uighur Autonomous Region, China June 27, 2018. REUTERS/Stringer ATRegister now for FREE unlimited access to Reuters.comSummaryOil edges up as global supply remains tight - analystsOPEC+ agree to raise its oil output target by 100,000 bpdOil prices to trade between $90-100/bbl range - analystsAug 4 (Reuters) - Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.Brent crude futures rose 10 cents, or 0.1%, at $96.88 a barrel at 0653 GMT, while West Texas Intermediate (WTI) crude futures was last up 21 cents, a 0.2% gain, at $90.87.Both benchmarks fell to their weakest levels since February in the previous session after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ agreed to raise its oil output target by 100,000 barrels per day (bpd), equal to about 0.1% of global oil demand. read more Register now for FREE unlimited access to Reuters.comThe Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, have been previously increasing production but have struggled to meet targets as most members have already exhausted their output potential.""OPEC+ agreed to increase production by 100,000 barrels per day in September, far lower than previous months' production. The global energy market still faces supply shortages,"" said Leon Li, an analyst at CMC Markets.He added that WTI oil prices are ""likely to oscillate"" between $90 and $100 a barrel.While the United States has asked the group to boost output, spare capacity is limited and Saudi Arabia may be reluctant to beef up production at the expense of Russia, hit by sanctions over the Ukraine invasion that Moscow calls ""a special operation"".Ahead of the meeting, OPEC+ had trimmed its forecast for the oil market surplus this year by 200,000 barrels per day (bpd) to 800,000 bpd, three delegates told Reuters.""It looks like OPEC+ is resisting calls to boost output because the crude demand outlook continues to get slashed. The world is battling the ongoing global energy crisis and it won't be getting any help from OPEC+,"" Edward Moya, senior analyst with OANDA, said in a note.""The oil market will remain tight over the short term and that means we should still have limited downside here. Crude prices should find strong support around the $90 level and eventually will rebound towards the $100 barrel level even as the global economic slowdown accelerates.""Oil's demand outlook remains clouded by rising fears of an economic slump in the United States and Europe, debt distress in emerging market economies, and a strict zero COVID-19 policy in China, the world's largest oil importer.U.S. crude oil inventories had also rose unexpectedly last week as exports fell and refiners lowered runs, while gasoline stocks also posted a surprise build as demand slowed, the Energy Information Administration said. read more Supporting prices on Thursday, however, the Caspian Pipeline Consortium (CPC), which connects Kazakh oil fields with the Russian Black Sea port of Novorossiisk, said that supplies were significantly down, without providing figures. read more Register now for FREE unlimited access to Reuters.comReporting by Laura Sanicola and Emily Chow; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.Laura SanicolaThomson ReutersReports on oil and energy, including refineries, markets and renewable fuels. Previously worked at Euromoney Institutional Investor and CNN.",Oil prices edge up on supply concerns after drop to near 6-month low.
"Register now for FREE unlimited access to Reuters.comSEOUL, Aug 4 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi and her South Korean counterpart vowed on Thursday to support efforts to maintain a strong deterrence against North Korea and achieve its denuclearisation.A joint statement was issued after Pelosi met South Korea's National Assembly Speaker Kim Jin-pyo in Seoul, in which they expressed concerns over the North's evolving nuclear and missile threats.""Both sides expressed concerns about the dire situation of North Korea's growing threat,"" the statement said.Register now for FREE unlimited access to Reuters.com""We agreed to support the efforts of the two governments to achieve practical denuclearisation and peace through international cooperation and diplomatic dialogue, based on the strong and extended deterrence against the North.""Pelosi also said at a news conference that she and Kim discussed ways to boost cooperation on regional security and economic and climate issues.Pelosi arrived in South Korea late on Wednesday following a brief stop in Taiwan, and met U.S. embassy officials in Seoul earlier on Thursday before talks with Kim and other lawmakers.Later on Thursday, Pelosi plans to visit the Joint Security Area near the heavily fortified inter-Korean border, patrolled together by the American-led U.N. Command and North Korea, a South Korean official said.U.S. House of Representatives Speaker Nancy Pelosi meets with South Korea?s National Assembly Speaker Kim Jin-pyo in Seoul, South Korea August 4, 2022. Kim Min-Hee/Pool via REUTERSShe would be the highest-level U.S. official to visit the area after former President Donald Trump, who met North Korean leader Kim Jong Un there in 2019.South Korean President Yoon Suk-yeol did not meet Pelosi due to his scheduled vacation this week, but held a 40-minute phone call with her where he promised close cooperation with the U.S. Congress for the development of their global strategic alliance, Deputy National Security Adviser Kim Tae-hyo told reporters.Yoon also said that Pelosi's planned visit to the heavily fortified inter-Korean border area will be ""a sign of a strong deterrence against North Korea."" read more The presidential office in a separate press release said Yoon, during the phone call, expressed his hopes to meet Pelosi when he visits the United States to discuss ways to strengthen the alliance between the two countries.South Korean media speculated that Yoon could be shunning meeting Pelosi in person to avoid antagonising China, after her visit to Taiwan caused outrage in Beijing, which claims the self-governed island as its own. read more Choi Young-bum, senior presidential secretary for public relations, however, told reporters that ""every decision was made in consideration of our national interest"", and that there will be no change in the position to put the South Korea-U.S. alliance above all.When asked whether the national interest also included diplomatic relations and the regional situation, Choi declined to comment.Register now for FREE unlimited access to Reuters.comReporting by Hyonhee Shin; Additional reporting by Joori Roh and Soo-hyang Choi; Editing by Simon Cameron-Moore and Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.","Pelosi vows support to denuclearise North Korea, plans to visit Korea border."
"A worker cycles near a factory at the Keihin industrial zone in Kawasaki, Japan February 17, 2016. Japan's automaker labour unions are reducing their demands for pay rises for the next fiscal year from amounts sought the previous year, a move that could hamper the Abe government's efforts to stoke demand and defeat deflation. REUTERS/Toru Hanai/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesPM Kishida warms to unions in hope of raising wagesLabour unions see scope for cooperation with governmentUnions gearing up to demand wage hike exceeding 2%Rising part-time workers eroding unions' bargaining powerAs job market tightens, job security has less appeal to youthsTOKYO, Aug 4 (Reuters) - As Japan faces its first major battle with inflation in decades, Prime Minister Fumio Kishida is extending a rare olive branch to labour unions, who he sees as crucial to his wider push to boost household wealth.Wage stagnation has blighted Japan's workers for years as the country was mired in a deflationary mindset that stopped firms raising salaries, and as weakened unions shied away from demanding more pay.As part of his ""new capitalism"" platform to widen wealth distribution, Kishida has urged firms to boost pay and give households spending power to tolerate higher prices.Register now for FREE unlimited access to Reuters.comHe is also approaching unions for help in achieving what other countries would frown upon: a spiral of rising inflation triggering strong wage growth.In January, Kishida became the first premier in almost a decade to attend a new year party held by Rengo, the main umbrella union, in a rare gesture to organised labour by the head of the pro-business Liberal Democratic Party. read more At the event, he called for labour union help in achieving ""a bold turnaround in the downtrend in wage levels seen in recent years"" and ""wage hikes befitting an era of new capitalism.""In June, he made a similarly rare visit to Toyota Motor Corp's (7203.T) factory in what some politicians saw as a bid to court union votes.The attempt to close some of the distance between unions and government illustrates the depth of Japan's economic woes and has, at least for now, put Kishida on the same side as organised labour in calling for higher wages.SEIZING THE MOMENTJapan's recent union history has been unspectacular.Most unions are in-house bodies representing employees at their firms, rather than on an industry basis. As such, they tend to prioritise job security over pay.Now, however, conditions for higher wages appear to be falling into place in ways never seen in deflation-prone Japan.The job market is at its tightest in decades and inflation exceeded the central bank's 2% target for the first time in seven years, pressuring firms to raise wages.Shedding its image as a counter-force to a pro-business government, labour unions, too, are warming to the administration as they seek ways to put their ideas into practice beyond relying on a weak, fragmented opposition.Tomoko Yoshino, head of Rengo, attended a ruling party meeting in April as a token gesture of support toward its policy on work-style reform.""It's true some of Kishida's proposals mesh with ours,"" such as steps to narrow income disparity, said Hiroya Nakai, an executive at Japanese Association of Metal, Machinery and Manufacturing Workers - a union for small manufacturers.""At times it's necessary to make proposals to the ruling party,"" he said.The relationship between Kishida and unions contrasts with that of many other countries, where governments see current demands for wage hikes as a risk that could trigger unwelcome inflation. read more It also highlights Japan's unique situation where a tight job market does not necessarily lead to broad-based wage rises.Japan's average wages have hardly risen since the early 1990s and were the lowest among G7 advanced nations last year, according to OECD data.Reuters GraphicsReuters GraphicsThere are signs of change as a rapidly ageing society intensifies labour shortages. Firms agreed with unions to raise average wages by 2.07% this fiscal year, up from 1.78% last year to mark the biggest hike since 2015, Rengo estimates show.With inflation rising above 2%, unions are gearing up to demand even higher pay next year.""We must bear in mind that inflation is accelerating and pushing real wages into negative territory,"" said Akira Nidaira, an executive at Rengo. ""The key is whether Japan can finally eradicate the public's deflationary mindset.""DEFLATION IS OVERMany analysts, however, doubt unions have the teeth to demand wage hikes big enough to offset rising inflation, and see the changing nature of work undermine such efforts.""Japan's job market is diversifying, raising questions about the relevance of labour unions,"" said Kotaro Tsuru, a professor at Keio University. ""If they cling to their traditional focus on protecting permanent workers' jobs, their fate is sealed.""As Japan's labour market tightens, job security has become less attractive for younger workers who change employers more often than their older counterparts.Tracking global trends, union membership has been declining longer term. It hit 16.9% in 2021, hovering near an all-time low and well below 30.5% in 1982.""I don't think labour unions are playing their role. Wages aren't rising as much as I hoped,"" said a 25-year-old employee at a major Japanese manufacturer and in-house union member.""Unions might prove useful some day but on a daily basis, they don't seem to be pro-active,"" said the employee, who spoke on condition of anonymity due to the sensitivity of the matter.Also working against unions, almost 40% of employees are now non-regular workers and mostly unprotected by unions.While some unions now allow non-regular workers to join, most still prioritise permanent workers.""Labour unions haven't adapted themselves to the changing needs of the younger generation,"" said Hisashi Yamada, senior economist at Japan Research Institute.""Accustomed to prolonged economic stagnation, they seem to have forgotten how to demand wage hikes,"" he said. ""That needs to change as the era of deflation and dis-inflation is over.""Register now for FREE unlimited access to Reuters.comReporting by Tetsushi Kajimoto and Leika Kihara; Additional reporting by Kantaro Komiya, Daniel Leussink and David Dolan; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.","Analysis: As inflation bites, Japan's PM finds unlikely ally in labour unions."
"Electricity pylons are seen in Wellingborough, Britain, March 30, 2022. REUTERS/Andrew Boyers/File PhotoRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - British energy market regulator Ofgem said on Thursday it would review a price cap on domestic energy prices quarterly rather than twice a year, aiming at reducing risk of supplier failures and cost increases for consumers.British wholesale gas prices hit record highs after Russia's Feb. 24 invasion of Ukraine and have remained elevated despite falling back from their peak level.Britain receives about 4% of its gas from Russia, but lower overall Russian supply to Europe means competition for gas is intense, pushing prices higher.Register now for FREE unlimited access to Reuters.com""Today's change will go some way to provide the stability needed in the energy market, reducing the risk of further large-scale supplier failures which cause huge disruption and push up costs for consumers,"" Ofgem said.""It is not in anyone's interests for more suppliers to fail and exit the market,"" it added.The cap, which has been in place since January 2019, reflects the cost of energy supply by setting a maximum that suppliers can charge per unit of energy and limits the level of profits an energy supplier can make to 1.9%.HUGE RISESPrice caps will be updated more frequently so prices charged to bill payers better reflect current gas and electricity costs, allowing suppliers to better manage risks, Ofgem said.It added that paying a rate that is up to six months out of date in the current volatile market was no longer sustainable and could mean either consumers paying too much for months if wholesale prices have fallen or suppliers left unable to supply gas with the money they are allowed to charge if prices have risen.""The trade-offs we need to make on behalf of consumers are extremely difficult and there are simply no easy answers right now,"" said Jonathan Brearley, Ofgem's chief executive.Around 30 suppliers, mostly of small to medium size, have failed since last year.Ofgem warned that customers faced a challenging winter ahead. As a result of climbing wholesale prices, the cap will have to increase and Ofgem will publish the next price cap level at the end of August.On Tuesday, analysts said the average annual household dual-fuel bill - covering both gas and electricity - will rise by around 70% in October to more than 3,359 pounds and remain high until at least 2024. read more The End Fuel Poverty Coalition campaign group warned that millions of people will face a two-phase cost-of-living crisis this winter in October and then in January, forcing more people into fuel poverty in the middle of winter.Last May, the government set out a 15 billion pound ($18 billion) package of support for houesholds, saying that each home would receive a 400 pound energy bill credit for when the price cap rises in October, but that was when the forecast price rise was much lower.Pressure will be on a new prime minister to announce new support measures for households.($1 = 0.8217 pounds)Register now for FREE unlimited access to Reuters.comReporting by Nina Chestney in London and Aby Jose Koilparambil in Bengaluru; Editing by Shailesh Kuber, Bradley Perrett and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.Nina ChestneyThomson ReutersOversees and coordinates EMEA coverage of power, gas, LNG, coal and carbon markets and has 20 years' experience in journalism. Writes about those markets as well as climate change, climate science, the energy transition and renewable energy and investment.",British energy market regulator moves to quarterly price cap review.
"DBS Group CEO Piyush Gupta said the bank's wealth management and capital markets businesses continue to see ""headwinds,"" despite the bank reporting robust second-quarter earnings.""Business momentum is a bit mixed. Our corporate lending activities are actually doing quite well. And so the balance sheets continue to grow,"" Gupta told CNBC's ""Capital Connection"" following the release of the bank's results Thursday.""Private banking customers have been reluctant to put money to work, that obviously is a challenge. The headwinds on wealth management and capital markets mean that the overall fee incomes … are down year-on-year,"" he added.DBS, Southeast Asia's largest bank, reported net fee income fell 12% in the second quarter due to lower contributions from wealth management and investment banking compared with a year ago.First-half net fee income declined 9% from a year ago to 1.66 billion Singapore dollars ($1.2 billion). Wealth management fees declined 21% to S$745 million as weaker market conditions led to lower investment product sales, DBS said. Investment banking fees also declined by 36% to S$73 million as capital market activity slowed.Stock picks and investing trends from CNBC Pro:Uncertain outlookGupta said the outlook for the wealth management business remains uncertain given the current market sentiment. ""If the markets do start turning around and you start seeing more animal spirits, we can get some more capital markets deals done — and wealth management, private banking customers could get more active,"" the CEO said.""But like I said, at this point in time, I'm not holding my breath on that happening,"" he added.On Thursday, DBS reported net profit rose to S$1.82 billion during the April to June period from S$1.7 billion a year earlier. That's higher than the average forecast of S$1.69 billion, according to data from Refinitiv.The bank's net interest margin increased to 1.58% in the quarter, up from 1.45% a year ago.""Net interest margin, which had been declining since 2019, rose in the first quarter with the start of interest rate hikes, and the improvement accelerated in the second quarter. Net interest margin for the first half was 1.52%, five basis points higher than a year ago,"" DBS said in its report.Gupta said the increase in the net interest margin was the ""biggest story,"" noting the sharp increase. He noted projections for net interest margin ""in the third and fourth quarter are quite robust.""""And if that is the case, then yes, it is the story of net interest margin increases that will propel the business along,"" Gupta said.DBS said the board has declared an interim one-tier tax-exempt dividend of 36 cents for each DBS ordinary share for the second quarter of 2022 .","Southeast Asia's largest bank says wealth management, capital markets business face challenges."
"Chinese Foreign Minister Wang Yi attend the ASEAN Plus Three Foreign Ministers’ Meeting in in Phnom Penh, Cambodia August 4, 2022. REUTERS/Soe Zeya TunRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 4 (Reuters) - The Chinese foreign ministry said on Thursday that a meeting between China's Foreign Minister Wang Yi and his Japanese counterpart on the sidelines of ASEAN events in Cambodia had been cancelled.The Chinese side is strongly displeased with the joint statement put out by the Group of Seven nations about Taiwan, said Hua Chunying, spokesperson at the ministry, at a regular media briefing.The foreign ministers of G7 nations - including Japan - called on China on Wednesday to resolve tension around the Taiwan Strait in a peaceful manner. read more Register now for FREE unlimited access to Reuters.comReporting by Martin Quin Pollard; writing by Ryan Woo; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",China cancels bilateral meeting with Japan after G7 Taiwan statement.
"Taiwan President Tsai Ing-wen speaks at a meeting with U.S. House of Representatives Speaker Nancy Pelosi (not pictured) at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 4 (Reuters) - Taiwan's President Tsai Ing-wen thanked the Group of Seven (G7) nations on Thursday for supporting regional peace and stability after the group called on China to resolve tensions in the Taiwan Strait in a peaceful manner.Tsai, in a Twitter post, also wrote: ""Taiwan is committed to defending the status quo & our hard-earned democracy.""We'll work with like-minded partners to maintain a free & open Indo-Pacific.""The G7 comments came after China demonstrated its outrage over a visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi with a burst of military activity in surrounding waters.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee; Writing by Martin Quin Pollard; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",Taiwan's Tsai thanks G7 for supporting regional peace and stability.
"U.S. Updated on: August 3, 2022 / 5:53 PM / CBS/AP Conspiracy theorist Alex Jones testified Wednesday that he now understands it was irresponsible of him to declare the Sandy Hook Elementary School massacre a hoax and that he now believes it was ""100% real.""Speaking a day after the parents of a 6-year-old boy who was killed in the 2012 attack testified about the suffering, death threats and harassment they've endured because of what Jones has trumpeted on his media platforms, the Infowars host told a Texas courtroom that he definitely thinks the attack happened.""Especially since I've met the parents. It's 100% real,"" Jones said at his trial to determine how much he and his media company, Free Speech Systems, owe for defaming Neil Heslin and Scarlett Lewis. Their son Jesse Lewis was among the 20 students and six educators who were killed in the attack in Newtown, Connecticut, which was the deadliest school shooting in American history. Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, July 28, 2022.  BRIANA SANCHEZ/POOL But Heslin and Lewis said Tuesday that an apology wouldn't suffice and that Jones needed to be held accountable for repeatedly spreading falsehoods about the attack. They are seeking at least $150 million. Testimony in the trial, which is in its second week, concluded at around midday Wednesday.During closing arguments Wednesday afternoon, Jones' attorney Andino Reynal said the plaintiffs didn't prove that his client's actions and words caused actual harm to Heslin and Lewis. He said it's fair to infer that someone else ""weaponized"" what Jones has said about Sandy Hook and ""convinced them that Alex Jones was responsible for their grief."" Jones was the only person who testified in his own defense. His attorney asked him if he now understands it was ""absolutely irresponsible"" to push the false claims that the massacre didn't happen and no one died.Jones said he does, but added, ""They (the media) won't let me take it back.""He also complained that he's been ""typecast as someone that runs around talking about Sandy Hook, makes money off Sandy Hook, is obsessed by Sandy Hook.""Under a withering cross-examination from attorney Mark Bankston, Jones acknowledged his history of raising conspiracy claims regarding other mass tragedies, from the Oklahoma City and Boston Marathon bombings to the mass shootings in Las Vegas and Parkland, Florida. Bankston then went after Jones' credibility, showing an Infowars video clip from last week when a host - not Jones - claimed the trial was rigged and featuring a photo of the judge in flames. Then came another clip of Jones asking if the jury was selected from a group of people ""who don't know what planet"" they live on. Jones said he didn't mean that part literally.Bankston said Jones hadn't complied with court orders to provide text messages and emails for pretrial evidence gathering. Jones said, ""I don't use email,"" then was showed one gathered from another source that came from his email address. He replied: ""I must have dictated that.""At one point, Bankston informed Jones that his attorneys had mistakenly sent Bankston the last two years' worth of texts from Jones' cellphone.The attorney also showed the court an email from an Infowars business officer informing Jones that the company had earned $800,000 gross in selling its products in a single day, which would amount to nearly $300 million in a year. Jones said that was the company's best day in sales.Jones' testimony came a day after Heslin and Lewis told the courtroom in Austin, where Jones and his companies are based, that Jones and the false hoax claims he and Infowars pushed made their lives a ""living hell"" of death threats, online abuse and harassment.They led a day of charged testimony Tuesday that included the judge scolding the bombastic Jones for not being truthful with some of what he said under oath.In a gripping exchange, Lewis spoke directly to Jones, who was sitting about 10 feet away. Earlier that day, Jones was on his broadcast program telling his audience that Heslin is ""slow"" and being manipulated by bad people. ""I am a mother first and foremost and I know you are a father. My son existed,"" Lewis said to Jones. ""I am not deep state ... I know you know that ... And yet you're going to leave this courthouse and say it again on your show.""At one point, Lewis asked Jones: ""Do you think I'm an actor?""""No, I don't think you're an actor,"" Jones responded before the judge admonished him to be quiet until called to testify.Heslin and Lewis are among several Sandy Hook families who have filed lawsuits alleging that the Sandy Hook hoax claims pushed by Jones have led to years of abuse by him and his followers.""What was said about me and Sandy Hook itself resonates around the world,"" Heslin said. ""As time went on, I truly realized how dangerous it was.""Jones skipped Heslin's Tuesday morning testimony while he was on his show — a move Heslin dismissed as ""cowardly"" — but arrived in the courtroom for part of Scarlett Lewis' testimony. He was accompanied by several private security guards.""Today is very important to me and it's been a long time coming ... to face Alex Jones for what he said and did to me. To restore the honor and legacy of my son,"" Heslin said when Jones wasn't there. Heslin told the jury about holding his son with a bullet hole through his head, even describing the extent of the damage to his son's body. A key segment of the case is a 2017 Infowars broadcast that said Heslin didn't hold his son.In 2017, Heslin went on television, he told CBS News, to directly address the Sandy Hook deniers. ""I lost my son. I buried my son. I held my son with a bullet hole through his head,"" he said.After which, the harassment only got worse, Heslin said.""I've had many death threats,"" Heslin told CBS News in 2018. ""People say, 'You should be the ones with a bullet hole in your head.'""The jury was shown a school picture of a smiling Jesse taken two weeks before he was killed. The parents didn't receive the photo until after the shooting. They described how Jesse was known for telling classmates to ""run!"" which likely saved lives.Jones later took the stand Tuesday and was initially combative with the judge, who had asked him to answer his own attorney's question. Jones testified he had long wanted to apologize to the plaintiffs.Later, the judge sent the jury out of the room and strongly scolded Jones for telling the jury he had complied with pretrial evidence gathering even though he didn't and that he is bankrupt, which has not been determined. The plaintiffs' attorneys were furious about Jones mentioning he is bankrupt, which they worry will taint the jury's decisions about damages. ""This is not your show,"" Judge Maya Guerra Gamble told Jones. ""Your beliefs do not make something true. You are under oath.""Last September, the judge admonished Jones in her default judgment over his failure to turn over documents requested by the Sandy Hook families. A court in Connecticut issued a similar default judgment against Jones for the same reasons in a separate lawsuit brought by other Sandy Hook parents.At stake in the trial is how much Jones will pay. The parents have asked the jury to award $150 million in compensation for defamation and intentional infliction of emotional distress. The jury will then consider whether Jones and his company will pay punitive damages.Jones told the jury that any compensation above $2 million ""will sink us,"" but added: ""Ï think it's appropriate for whatever you decide what you want to do.""Jones has already tried to protect Free Speech Systems financially. The company filed for federal bankruptcy protection last week. Sandy Hook families have separately sued Jones over his financial claims, arguing that the company is trying to protect millions owned by Jones and his family through shell entities. In: alex jones Sandy Hook Elementary School Shooting","Alex Jones concedes Sandy Hook massacre was ""100% real"" as he testifies at defamation trial."
"Kenya's Deputy President and presidential candidate William Ruto attends an election rally in Eldoret, Kenya August 1, 2022. REUTERS/Baz Ratner/File PhotoRegister now for FREE unlimited access to Reuters.comNAIROBI, Aug 4 (Reuters) - East Africa's economic powerhouse will hold elections on Aug. 9 to select a new president, parliament, county governors and assemblies. President Uhuru Kenyatta will be stepping down after serving his constitutionally allowed 10 years.Many voters want change, frustrated by corruption and skyrocketing prices. But both frontrunners vying to succeed Kenyatta have ties to him.Veteran opposition leader Raila Odinga has received Kenyatta's endorsement. William Ruto has been Kenyatta's deputy president for the past decade, although the two men fell out.Register now for FREE unlimited access to Reuters.comOdinga, a left-leaning former political prisoner, has served as prime minister and is the son of the nation's first vice president.Ruto, a gifted orator who says he once sold chicken by the roadside, has portrayed the election as a fight between common ""hustlers"" and elite ""dynasties"".Both are wooing voters in East Africa's richest and most stable nation by promising to reign in ballooning foreign borrowing and help the poor. Less than 0.1% of Kenyans own more wealth than the bottom 99.9% combined, according to Oxfam. The global spike in fuel and food prices has hit families hard. read more The candidates have also stitched together alliances of ethnic voting blocs. Such ethnic rivalries led to deadly violence in previous elections after results were disputed.But unlike the past four elections, Kenyatta's Kikuyu ethnic group, the nation's largest, has no presidential candidate to unify behind. Both Odinga and Ruto have chosen Kikuyu vice-presidential running mates.The potential fracturing of Kenya's biggest ethnic voting bloc makes for an unpredictable election, said Murithi Mutiga, Africa head for global think tank International Crisis Group.""The public has grown weary of all the byzantine alliances among the political elites,"" he said. ""Politicians are being forced to discuss issues that really matter.""Young citizens are particularly disenchanted, he said; many have not bothered registering to vote.VOTER APATHYThose are Kenyans like 30-year-old motorbike taxi driver Calvince Okumu, who falls into a demographic courted by both camps.He is one of the country's 1.6 million motorcycle taxi drivers – the kind of young, hardscrabble entrepreneur Ruto promises to give loans to. He also hails from Western Kenya, Odinga's stronghold, and could benefit from his promise to provide a basic income to the poorest families.He's not interested.""Why should I line up for four hours to vote?"" asked Okumu, a part-time student. ""There's no difference between the two.""The number of registered voters aged 18-34 has dropped more than 5 percent since the 2017 election, despite population growth of around 12 percent.Okumu's more concerned about finding steady work. More than a tenth of Kenyans aged 18 - 64 are unemployed and nearly one in five are out of the labor force - meaning they are not looking for work, according to the World Bank.Endemic corruption has also angered voters; both camps include officials charged with or even convicted of corruption. read more In the northeast, the worst drought in 40 years has forced parched grazing lands and forced 4.1 million people to depend on food aid. Their plight has barely been mentioned as would-be leaders buzzed across the country in fleets of helicopters. read more UNRESTThe shadow of the violence following disputed 2007 elections, which killed 1,200 people and displaced around 600,000, hangs over each election cycle.Kenyatta and Ruto were among six Kenyans charged at the International Criminal Court over their alleged roles in the 2007 violence. Both denied the charges and their cases collapsed.Violence also followed the 2017 polls, when more than 100 people were killed.This time, there's been less pre-election violence; communities are working hard to defuse tensions. read more The Supreme Court's decision to nullify and re-run the last election also means there's higher confidence in the justice system - so disputes are more likely to go to the courts than the streets.Register now for FREE unlimited access to Reuters.comEditing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.","Weary and wary, Kenyans gear up for national elections."
"Rolls Royce engine of the first Fiji Airways A350 XWB airliner is seen at the aircraft builder's headquarters of Airbus in Colomiers near Toulouse, France, November 15, 2019. REUTERS/Regis Duvignau/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 4 (Reuters) - British aero-engineer Rolls-Royce (RR.L) said on Thursday it was managing rising inflation and supply chain disruption, and an improvement in its squeezed profit margin in the second half would keep it on track to meet its targets.The engine maker reported underlying operating profit of 125 million pounds ($152 million) in the first half of the year, compared with 307 million pounds a year earlier, on underlying revenue of 5.31 billion pounds.Rolls-Royce Chief Executive Warren East, who will be succeeded by ex-BP executive Tufan Erginbilgic at the end of the year, said the company had ""progressed well"" in the half, with an improvement in free cash flow of more than 1 billion pounds and strong order intake in its power systems business.Register now for FREE unlimited access to Reuters.com""We are actively managing the impacts of a number of challenges, including rising inflation and ongoing supply chain disruption, with a sharper focus on pricing, productivity and costs,"" he said in a statement.The company said its large engines under long-term service agreements flew 4.5 million hours in the period, up 43% year-over-year, but still only about 60% of pre-pandemic levels in 2019.($1 = 0.8231 pounds)Register now for FREE unlimited access to Reuters.comReporting by Paul Sandle; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.",Rolls-Royce says it is managing inflation and supply chain disruption.
"People wounded in a shopping mall hit by a Russian missile strike are treated in a hospital, as Russia's attack on Ukraine continues, in Kremenchuk, in Poltava region, Ukraine June 27, 2022. REUTERS/Anna VoitenkoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 4 (Reuters) - Ukraine is facing a worsening health emergency as the conflict with Russia rages on, the World Health Organization said, with a combination of burnt-out staff, increased shelling and the approach of winter fuelling the agency's concerns.There have been 434 attacks on healthcare facilities in the country, out of 615 such attacks reported this year worldwide, according to a WHO tracker.The WHO's Ukraine emergency co-ordinator Heather Papowitz said healthcare teams in many areas have become used to working with shelling outside their window.Register now for FREE unlimited access to Reuters.com""It's kind of falling off the news in a way... but this is an emergency of public health,"" Papowitz told Reuters on Wednesday.Russia denies it targets civilians, but many Ukrainian towns and cities have been destroyed and thousands killed. Ukraine and its Western allies accuse Russian forces of war crimes.Papowitz, who visited Ukraine last week, said the WHO was most concerned about areas inaccessible to its teams due to fighting or Russian occupation, including the eastern Donbas region and Kherson to the south.""Getting access is the biggest issue, it is what keeps us up at night,"" said Papowitz, citing challenges in getting medicines into these areas for people with chronic conditions or treating physical and mental trauma. read more Disease control is also a factor. Ukraine has low vaccination coverage for measles and a polio outbreak, and there have been concerns over the risk of cholera. No cholera outbreaks have yet been verified, said Papowitz. read more WHO is also working alongside national health systems to support the health of refugees in neighbouring countries. More than six million people have fled the fighting in Ukraine, and a similar number are displaced within the country, too.Papowitz said there were barriers in everything from language to affordability for refugees accessing healthcare, which the WHO is working with national governments to address.Register now for FREE unlimited access to Reuters.comReporting by Jennifer Rigby; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.",Ukraine health crisis worsens as medics work amid shelling - WHO.
"A TV screen shows that China's People's Liberation Army has begun military exercises including live firing on the waters and in the airspace surrounding the island of Taiwan, as reported by Chinese state television, in Hong Kong, China August 4, 2022. REUTERS/Tyrone SiuSummaryChinese military exercises, involving live-fire, beginSuspected drones fly over outlying Taiwanese islandsTaiwan says several government websites hackedChina says it's an internal affairTAIPEI, Aug 4 (Reuters) - China launched unprecedented live-fire military drills in six areas that ring Taiwan on Thursday, a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that Beijing regards as its sovereign territory.Soon after the scheduled start at 0400 GMT, China's state broadcaster CCTV said the drills had begun and would end at 0400 GMT on Sunday. They would include live firing on the waters and in the airspace surrounding Taiwan, it said. read more Two missiles were launched by China near Taiwan's Matsu islands, which lie off the coast of China, at around 2 p.m. local time (0600 GMT) in the direction of drill zones announced by China, according to an internal Taiwan security report seen by Reuters and confirmed by a Taiwan security source. read more Register now for FREE unlimited access to Reuters.comTaiwan officials have said the drills violate United Nations rules, invade Taiwan's territorial space and are a direct challenge to free air and sea navigation.Map showing the six locations where China will conduct military drills.China is conducting drills on the busiest international waterways and aviation routes and that is ""irresponsible, illegitimate behaviour,"" Taiwan's ruling Democratic Progressive Party said.Taiwan's cabinet spokesman, expressing serious condemnation of the drills, said also that websites of the defence ministry, the foreign ministry and the presidential office were attacked by hackers.Chinese navy ships and military aircraft briefly crossed the Taiwan Strait median line several times on Thursday morning, a Taiwanese source briefed on the matter told Reuters. read more By midday on Thursday, military vessels from both sides remained in the area and in close proximity.Taiwan scrambled jets and deployed missile systems to track multiple Chinese aircraft crossing the line.""They flew in and then flew out, again and again. They continue to harass us,"" the Taiwanese source said.On Wednesday night, just hours after Pelosi left for South Korea, unidentified aircraft, probably drones, flew above the area of Taiwan's outlying Kinmen islands near the Chinese coast, Taiwan's defence ministry said. read more China, which claims Taiwan as its own territory and reserves the right to take it by force, said on Thursday its differences with the self-ruled island were an internal affair. read more ""Our punishment of pro-Taiwan independence diehards, external forces is reasonable, lawful,"" China's Beijing-based Taiwan Affairs Office said.China's Foreign Minister Wang Yi called Pelosi's visit to Taiwan a ""manic, irresponsible and highly irrational"" act by the United States, state broadcaster CCTV reported.Wang, speaking at a meeting of Southeast Asian foreign ministers in Phnom Penh, Cambodia, said China had made the utmost diplomatic effort to avert crisis, but would never allow its core interests to be hurt.The foreign ministers in a statement had earlier warned that volatility caused by tensions in the Taiwan Strait could lead to ""miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers"". read more 'COMRADE PELOSI'Unusually, the drills in six areas around Taiwan were announced with a locator map circulated by China's official Xinhua news agency earlier this week - a factor that for some analysts and scholars shows the need to play to both domestic and foreign audiences. read more On Thursday, the top eight trending items on China's Twitter-like Weibo service were related to Taiwan, with most expressing support for the drills or fury at Pelosi.""Let's reunite the motherland,"" several users wrote.In Beijing, security in the area around the U.S. Embassy remained unusually tight on Thursday as it has been throughout this week. There were no signs of significant protests or calls to boycott U.S. products.""I think this (Pelosi's visit) is a good thing,"" said a man surnamed Zhao in the capital's central business district. ""It gives us an opportunity to surround Taiwan, then to use this opportunity to take Taiwan by force. I think we should thank Comrade Pelosi.""Pelosi, the highest-level U.S. visitor to Taiwan in 25 years, praised its democracy and pledged American solidarity during her brief stopover, adding that Chinese anger could not stop world leaders from travelling there.China summoned the U.S. ambassador in Beijing in protest against her visit and halted several agricultural imports from Taiwan.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,"" Pelosi told Taiwan's President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more ""Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today.""The United States and the foreign ministers of the Group of Seven nations warned China against using Pelosi's visit as a pretext for military action against Taiwan.White House national security spokesman John Kirby said earlier in the week that Pelosi was within her rights to visit Taiwan, while stressing that the trip did not constitute a violation of Chinese sovereignty or America's longstanding ""one-China"" policy.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself.China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Additional reporting by Tony Munroe and Martin Quin Pollard in Beijing; Writing by Raju Gopalakrishnan; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","China begins huge live-fire drills around Taiwan; Taipei says 'illegitimate, irresponsible'."
"A worker carries chickens at a poultry farm in Sepang, Selangor, May 27, 2022. Picture taken May 27, 2022. REUTERS/Hasnoor HussainRegister now for FREE unlimited access to Reuters.comKUALA LUMPUR, Aug 4 (Reuters) - Malaysia's ban on chicken exports is expected to end on Aug. 31, Agriculture and Food Industries Minister Ronald Kiandee told parliament on Thursday.Malaysia, which supplies live chickens mainly to neighbouring Singapore and Thailand, in June halted exports until production and prices stabilise, after a global feed shortage exacerbated by the Russia-Ukraine war disrupted production.Malaysia now has a slight oversupply of chicken following the export ban, Ronald had said on Monday. read more Register now for FREE unlimited access to Reuters.comReporting by Rozanna Latiff; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.",Malaysia's ban on chicken exports expected to end on Aug. 31 - minister.
"A map showing locations where Chinese People's Liberation Army (PLA) will conduct military exercises and training activities including live-fire drills is seen on newspaper reports of U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan, at a newsstand in Beijing, China August 3, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 4 (Reuters) - China's People's Liberation Army has begun military exercises including live firing on the waters and in the airspace surrounding the island of Taiwan, Chinese state television reported on Thursday.The drills, spread out across six locations, are due to end at 12:00 p.m. (0400 GMT) on Sunday. The exercises followed U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan, a trip condemned by Beijing, which claims the self-governed island as its own.Significantly, in the north, east and south, the exercise areas bisect Taiwan's claimed 12 nautical miles of territorial waters - something Taiwanese officials say challenges the international order and amount to a blockade of its sea and air space. read more Register now for FREE unlimited access to Reuters.comThe locations encircle the island in an unprecedented formation, Meng Xiangqing, a professor at the National Defence University, told Chinese state television, describing how an actual military operation against Taiwan could play out.""In fact, this has created very good conditions for us when, in the future, we reshape our strategic landscape conducive to our unification,"" Meng said.Chinese forces in two areas off the northern coast of Taiwan could potentially seal off Keelung, a major port, while strikes could be launched from an area east of Taiwan targeting the military bases in Hualien and Taidong, he said.The ""doors"" to Kaoshiung could also be closed by Chinese military off the southwestern coast, Meng said.Register now for FREE unlimited access to Reuters.comReporting by Ryan Woo; Editing by Jacqueline Wong & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Chinese military begins 'strategic' drills around Taiwan - state media.
"U.S. basketball player Brittney Griner, who was detained at Moscow's Sheremetyevo airport and later charged with illegal possession of cannabis, is escorted before a court hearing in Khimki outside Moscow, Russia August 2, 2022. Natalia Kolesnikova/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comSummaryGriner faces 10 years in prisonCase comes amid fraught Russia-U.S. relationsU.S. has made Russia a swap offerLawyer says swap legally possible after verdictThis content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.KHIMKI, Russia, Aug 4 (Reuters) - U.S. basketball star Brittney Griner returns to a Russian court on Thursday as her drugs trial grinds towards a finale that could result in a 10-year prison sentence and then a prisoner swap for one of the world's most notorious arms dealers.Griner, a two-time Olympic gold medallist and a Women's National Basketball Association (WNBA) star, was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing hashish oil in her luggage.Cannabis is illegal in Russia for both medicinal and recreational purposes.Register now for FREE unlimited access to Reuters.comThe cartridges threw the 31-year-old Texan athlete into the geopolitical maelstrom triggered when President Vladimir Putin sent troops into Ukraine on Feb. 24.During the most strained U.S.-Russian relations since the 1962 Cuban missile crisis, U.S. President Joe Biden is under pressure to intervene on behalf of detained Americans - including Griner.The United States has said Griner was wrongfully detained and made what Secretary of State Antony Blinken called a ""substantial offer"" to Moscow to exchange Russian prisoners for American citizens held in Russia, including Griner and former Marine Paul Whelan.One source familiar with the situation said that Washington was willing to exchange convicted arms trafficker Viktor Bout, whose life helped inspire the 2005 Hollywood film ""Lord of War"", starring Nicholas Cage.Russian officials have said a deal has not been reached. They argue that Griner -- known as ""BG"" to basketball fans -- violated the country's laws and should be judged accordingly.The Kremlin has also repeatedly warned Washington against resorting to megaphone diplomacy, or negotiations conducted through press releases. They say this strategy could derail the swap.Griner's lawyer said on Tuesday that the trial should end very soon and that once the court renders a verdict, a swap between Russia and the United States would become legally possible.Griner, who pleaded guilty but denied intending to break Russian laws, has shown little emotion in court. Her lawyer said on Tuesday that Griner was both nervous and focused as the trial neared its end.Wearing round-rimmed glasses and athletic clothing at every hearing, Griner listened to the proceedings via a translator and spoke quietly to her lawyers through the bars of the defendant's cage at the Khimki District Court outside Moscow.Before taking a seat, Griner held up personal photographs, including many of her wife Cherelle, whom Biden called last month to assure that Washington was working to secure Griner's release.Griner, selected first overall by the Phoenix Mercury in the 2013 WBNA draft, had flown to Russia to join her team, UMMC Ekaterinburg, for the playoffs after spending time at home in the United States.Like several other prominent U.S. national team stars, Griner played in the Russian Women's Basketball Premier League during the WNBA offseason.In her testimony last week, Griner expressed puzzlement as to how the vape cartridges had ended up in her luggage.""I still don't understand to this day how they ended up in my bag,"" she told the court on July 27. ""If I had to guess on how they ended up in my bags, I was in a rush packing.""Griner had been prescribed medical marijuana in the United States to relieve pain from chronic injuries, a treatment method that is common among elite athletes because it has fewer side effects than some painkillers.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy Faulconbridge and Josie KaoOur Standards: The Thomson Reuters Trust Principles.",Brittney Griner awaits her fate in Russian drugs trial.
"Register now for FREE unlimited access to Reuters.comSEOUL, Aug 4 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi and her South Korean counterpart vowed on Thursday to support efforts to maintain a strong deterrence against North Korea and achieve its denuclearisation.A joint statement was issued after Pelosi met South Korea's National Assembly Speaker Kim Jin-pyo in Seoul, in which they expressed concerns over the North's evolving nuclear and missile threats.""Both sides expressed concerns about the dire situation of North Korea's growing threat,"" the statement said.Register now for FREE unlimited access to Reuters.com""We agreed to support the efforts of the two governments to achieve practical denuclearisation and peace through international cooperation and diplomatic dialogue, based on the strong and extended deterrence against the North.""Pelosi also said at a news conference that she and Kim discussed ways to boost cooperation on regional security and economic and climate issues.Pelosi arrived in South Korea late on Wednesday following a brief stop in Taiwan, and met U.S. embassy officials in Seoul earlier on Thursday before talks with Kim and other lawmakers.U.S. House of Representatives Speaker Nancy Pelosi meets with South Korea?s National Assembly Speaker Kim Jin-pyo in Seoul, South Korea August 4, 2022. Kim Min-Hee/Pool via REUTERSLater on Thursday, Pelosi plans to visit the Joint Security Area near the heavily fortified inter-Korean border, patrolled together by American-led U.N. Command and North Korea, a South Korean official said.She would be the highest-level U.S. official to visit the area after former President Donald Trump, who met North Korean leader Kim Jong Un there in 2019.South Korean President Yoon Suk-yeol, who was on a scheduled vacation this week, will not meet Pelosi but would speak to her by telephone later on Thursday, Yoon's office said.South Korean media speculated that Yoon could be shunning meeting Pelosi in order to avoid antagonising China, after her visit to Taiwan caused outrage in Beijing, which claims the self-governed island as its own. read more An official at Yoon's office said it welcomes Pelosi and wishes her smooth travel, but did not comment on those reports.""Our position on her visit to Taiwan is that we will continue close communications with other countries based on the view that maintaining regional peace and stability via dialogue and cooperation is important,"" the official told reporters. read more Register now for FREE unlimited access to Reuters.comReporting by Hyonhee Shin; Additional reporting by Joori Roh and Soo-hyang Choi; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","Pelosi vows support to denuclearise North Korea, plans to visit Korea border."
"The edge of Glencore's Mount Owen coal mine and adjacent rehabilitated land are pictured in Ravensworth, Australia, June 21, 2022. Picture taken June 21, 2022. Picture taken with a drone. REUTERS/Loren ElliottRegister now for FREE unlimited access to Reuters.comSummaryCompaniesCompany to pay out $3 bln in share buybackAlso promises $1.45 billion special dividendAdjusted EBITDA more than doubles to $18.92 billionLONDON, Aug 4 (Reuters) - Miner and trader Glencore (GLEN.L) said on Thursday it would return an additional $4.5 billion to investors, including a share buyback of $3 billion, after it reported a record half-yearly profit mostly due to high coal prices.Unlike its mining rivals which bowed to investor pressure to exit fossil fuels, Glencore mines thermal coal, whose prices have reached record highs, reflecting shortages during protracted COVID-related lockdowns and the war in Ukraine, and trades millions of barrels of crude oil a year.Chief Executive Gary Nagle told reporters that very strong coal prices had significantly boosted Glencore's earnings from its industrial operations, though he also noted the group continued to see inflation pressures across its business, which were a ""consistent headwind"".Register now for FREE unlimited access to Reuters.comShareholder returns of $4.5 billion also include a $1.45 billion special dividend, taking 2022 payouts to $8.5 billion. The company had in February announced $4 billion payout including a dividend and a $550 million share buyback. read more The group's adjusted core earnings or EBITDA more than doubled to $18.92 billion in the six months through June, compared with $8.7 billion a year earlier and above analysts' expectations of $18.4 billion.Its trading division's half-year adjusted operating profit reached $3.7 billion, far exceeding the top end of its long-term annual outlook range of $3.2 billion.""There is no quick fix to the problems plaguing the energy markets and this should keep prices for the likes of coal and LNG elevated in the second half,"" said Joshua Warner, market analyst at City Index.""However, the outlook for metals looks more complex given supply chain disruptions, rising costs and weakening demand in China.""($1 = 0.8235 pounds)Register now for FREE unlimited access to Reuters.comReporting by Clara Denina in London and Muhammed Husain in Bengaluru; Editing by Uttaresh.V and David HolmesOur Standards: The Thomson Reuters Trust Principles.",Glencore to return extra $4.5 bln to shareholders after record earnings.
"A rescue worker works in the aftermath of shelling, as Russia's invasion of Ukraine continues, at Mykolaiv Regional Skin and Venereal Diseases Dispensary, in Mykolaiv, Ukraine, in this handout image released August 1, 2022. State Emergency Service of Ukraine in the Mykolaiv region/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSummaryUkraine warns of new Russian southern offensiveStrike force aimed at president's hometown, says UkraineU.S., Italy approve Finland, Sweden accession to NATOUkraine calls on China to help end war, says SCMPKYIV/WASHINGTON, Aug 4 (Reuters) - Ukraine said Russia had started creating a military strike force aimed at President Volodymyr Zelenskiy's hometown of Kryvyi Rih, while NATO moved closer to its most significant expansion in decades as the alliance responds to the invasion of Ukraine.The U.S. Senate and the Italian parliament both approved on Wednesday Finland and Sweden's accession to the 30-member North Atlantic Treaty Organisation (NATO). Under NATO membership, which must be ratified by all 30 member states, an attack on one member is an attack against all. read more ""This historic vote sends an important signal of the sustained, bipartisan U.S. commitment to NATO, and to ensuring our Alliance is prepared to meet the challenges of today and tomorrow,"" U.S. President Joe Biden said in a statement.Register now for FREE unlimited access to Reuters.comRussia, which invaded Ukraine on Feb. 24, has repeatedly warned Finland and Sweden against joining NATO.NATO's 30 allies signed the accession protocol last month, allowing them to join the U.S.-led nuclear-armed alliance once its members ratify the decision. read more Ratification could take up to a year.Ukraine on Wednesday dismissed suggestions by former German Chancellor Gerhard Schroeder that Russia wanted a ""negotiated solution"" to the war and said any dialogue would be contingent on a Russian ceasefire and withdrawal of its troops.The South China Morning Post (SCMP) reported on Thursday that Ukraine was seeking an opportunity to speak ""directly"" with Chinese leader Xi Jinping to help end the war.""It's a very powerful state. It's a powerful economy ... So (it) can politically, economically influence Russia. And China is (also a) permanent member of the U.N. Security Council,"" Zelenskiy told SCMP in an interview.China's foreign ministry did not immediately reply to a Reuters request for comment.NEW OFFENSIVEOn the battleground, Russian forces were engaged in considerable military activity, firing from tanks, barrel and rocket artillery in several parts of Ukraine, the General Staff of the Ukrainian Armed Forces said on Thursday.Earlier, Ukraine said Russia had begun creating a strike group in the Kryvyi Rih direction and that it could be preparing new offensive operations in southern Ukraine. read more The steel-producing city of Kryvyi Rih where Zelenskiy grew up lies around 50 km (30 miles) from the southern frontline.Pavlo Kyrylenko, governor of the Donetsk region, said on the Telegram app that three civilians had been killed in Bakhmut, Maryinka and Shevchenko and five wounded in the past 24 hours.Governors of the Mykolaiv, Kharkiv, Dnipropetrovsk regions reported that their regions had been shelled overnight, and civilian infrastructure, houses had been damaged.""The idea is to put military pressure on us in Kharkiv, Donetsk and Luhansk over the next few weeks...What is happening in the east is not what will determine the outcome of the war,"" Ukrainian Presidential Adviser Oleksiy Arestovych said in an interview appearing on YouTube.The whole point of the Russian offensive in the east is to force Ukraine to divert troops from the area that is truly a danger - Zaporizhzhia, Arestovych added.Mayor Yevhen Yevtushenko of Nikopol, west of Zaporizhzhia in central Ukraine, said his city had been shelled overnight.Russia in March was accused of firing shells dangerously close to the Zaporizhzhia nuclear power plant, as its forces took it over in the first weeks of the invasion.U.S. Secretary of State Antony Blinken has accused Moscow of using Ukraine's largest nuclear power plant as a ""nuclear shield"" in attacks on Ukrainian forces. read more Reuters was not able to verify battlefield reports.Russia denies it targets civilians, but many towns and cities have been destroyed and thousands killed in the biggest conflict in Europe since World War Two. Ukraine and its Western allies accuse Russian forces of war crimes.FOOD CRISISRussian President Vladimir Putin sent troops into Ukraine in what he calls a ""special military operation"" to rid the country of fascists. Ukraine and the West said Putin launched an unprovoked ""imperial"" land grab.The war has sparked a global energy and food crisis. Russia and Ukraine produce about one third of global wheat and Russia is the main energy supplier to Europe.An agreement between Moscow and Kyiv, brokered by the United Nations and Turkey, to allow safe passage of grain ships from Ukraine has been hailed as a rare diplomatic success in the war.The first ship carrying Ukrainian grain since the war started passed through the Bosphorus Strait on Wednesday. The vessel, Razoni, was carrying 26,527 tonnes of corn to the Lebanese port of Tripoli. read more Zelenskiy said Ukraine needed to export a minimum 10 million tonnes of grain to urgently help bring down its budget deficit which was running at $5 billion a month.A senior Turkish official said three ships could leave Ukrainian ports daily following the Razoni's departure, while Ukraine's infrastructure minister said 17 more ships had been loaded with agricultural produce and were waiting to set sail.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Himani Sarkar; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.","Ukraine warns of new Russian offensive; Sweden, Finland move closer to joining NATO."
"Data released Wednesday showed a surprise rebound in the U.S. services sector in July and solid factory orders, which eased concerns over the U.S. economy and pushed stocks higher on the day.On the data front Thursday, there will be initial claims and international trade figures at 8:30 am ET.Cleveland Fed President Loretta Mester speaks at 12pm ET. On Wednesday, St. Louis Fed President James Bullard told CNBC Wednesday that he doesn't think the U.S. is in a recession and that the central bank will continue to raise rates to deal with inflation.",U.S. Treasury yields move lower off the back of positive economic data.
"U.S. House of Representatives Speaker Nancy Pelosi is greeted by South Korea?s National Assembly Speaker Kim Jin-pyo before their meeting at the National Assembly in Seoul, South Korea, August 4, 2022. Yonhap via REUTERS Register now for FREE unlimited access to Reuters.comAug 4 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi plans to visit an inter-Korean border area that is jointly controlled by American-led U.N. Command and North Korea later on Thursday, Associated Press reported, citing a South Korean official.If that visit occurs, Pelosi would be the highest-level American to go to the Joint Security Area since then-President Donald Trump went there in 2019 for a meeting with North Korean leader Kim Jong Un, the report added.Earlier in the day, Pelosi will meet South Korean National Assembly Speaker Kim Jin Pyo and other senior members of Parliament for talks on regional security, economic cooperation and climate issues, AP said.Register now for FREE unlimited access to Reuters.comReporting by Juby Babu in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",Pelosi to visit inter-Korean border area - AP.
"Employees make their way to work at the Samsung factory in Thai Nguyen province, north of Hanoi, Vietnam October 13, 2016. REUTERS/KhamRegister now for FREE unlimited access to Reuters.comTHAI NGUYEN, Vietnam, Aug 4 (Reuters) - Samsung Electronics Co Ltd has scaled back production at its massive smartphone plant in Vietnam, employees say, as retailers and warehouses grapple with rising inventory amid a global fall in consumer spending.America's largest warehouse market is full and major U.S. retailers such as Best Buy (BBY.N) and Target Corp (TGT.N) warn of slowing sales as shoppers tighten their belts after early COVID-era spending binges. read more The effect is acutely felt in Vietnam's northern province of Thai Nguyen, one of Samsung's (005930.KS) two mobile manufacturing bases in the country where the world's largest smartphone vendor churns out half of its phone output, according to the Vietnam government.Register now for FREE unlimited access to Reuters.comUS business inventories climb on restocking, slower consumer spendingSamsung, which shipped around 270 million smartphones in 2021, says the campus has the capacity to make around 100 million devices a year, according to its website.""We are going to work just three days per week, some lines are adjusting to a four-day workweek instead of six before, and of course no overtime is needed,"" Pham Thi Thuong, a 28-year-old worker at the plant told Reuters.""Business activities were even more robust during this time last year when the COVID-19 outbreak was at its peak. It's so tepid now.""Reuters could not immediately establish whether Samsung is shifting production to other manufacturing bases to make up for reduced output from the Vietnamese factory. The company also makes phones in South Korea and India.Samsung told Reuters it has not discussed reducing its annual production target in Vietnam.The South Korean tech giant is relatively optimistic about smartphone demand in the second half, saying on its earnings call last week that supply disruptions had mostly been resolved and that demand would either stay flat or even see single-digit growth. read more It is aiming for foldable phone sales to surpass that of its past flagship smartphone, the Galaxy Note, in the second half. It is expected to unveil its latest foldables on Aug. 10.But a dozen workers interviewed by Reuters outside the factory almost all said business is not good.Thuong and her friends who have been working for Samsung for around five years said they had never seen deeper production cuts.""Of course there is a low season every year, often around June-July, but low means no OT (overtime), not workday cuts like this,"" Thuong said.She said managers had told workers inventories were high and there were not many new orders.Research firm Gartner expects global smartphone shipments to decline by 6% this year due to consumer spending cuts and a sharp sales drop in China.SAMSUNG TOWNSamsung is Vietnam's biggest foreign investor and exporter, with six factories across the country, from northern industrial hubs Thai Nguyen and Bac Ninh where most phones and parts are manufactured, to Ho Chi Minh City's plant making fridges and washing machines.The South Korean company has poured $18 billion into Vietnam, powering the country's economic growth. Samsung alone contributes one fifth of Vietnam's total exports.Its arrival nearly a decade ago in Thai Nguyen, about 65 km (40 miles) from the capital Hanoi, transformed the area from a sleepy farming district into a sprawling industrial hub that now also manufactures phones for Chinese brands including Xiaomi Corp (1810.HK).Generous benefits including subsidised or free meals and accommodation have lured tens of thousands of young workers to the region, but reduced workhours have now left many feeling the pinch.""My salary was cut by half last month because I just worked four days and spent the remaining week doing nothing,"" said worker Nguyen Thi Tuoi.Job cuts are on some workers' minds but so far none have been announced.""I don’t think there will be job cuts, just some working hour cuts to suit the current global situation,"" said one worker, declining to be named because she did not want to risk her team leader role.""I do hope that the current cut will not last long and we will soon be back to normal pace.""Register now for FREE unlimited access to Reuters.comAdditional reporting by Khanh Vu in Hanoi and Joyce Lee in Seoul; Editing by Miyoung Kim and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Samsung workers in Vietnam bear brunt of slowdown in global demand for electronics.
"Jamalul Kiram III, a former Sultan of the Sulu region of the southern Philippines, answers questions as he sits surrounded by his followers, during a brief news conference in front of the Blue Mosque in Taguig city, south of Manila February 22, 2013. REUTERS/Romeo RanocoRegister now for FREE unlimited access to Reuters.comKUALA LUMPUR, Aug 4 (Reuters) - Malaysia is scrambling to protect its assets as the descendants of the last sultan of the remote Philippine region of Sulu look to enforce a $15 billion arbitration award in a dispute over a colonial-era land deal.In 1878, two European colonists signed a deal with the sultan for the use of his territory in present-day Malaysia – an agreement that independent Malaysia honoured until 2013, paying the monarch's descendants about $1,000 a year.Now, 144 years later after the original deal, Malaysia is on the hook for the second largest arbitration award on record for stopping the payments after a bloody incursion by supporters of Sultan Mohammed Jamalul Alam's heirs in which more than 50 people were killed.Register now for FREE unlimited access to Reuters.com""It is a fascinating and unusual case,"" said lawyer Paul Cohen, a lead co-counsel for the sultan's heirs from British law firm 4-5 Gray's Inn Square.For years, Malaysia largely dismissed the claims but in July, two Luxembourg-based subsidiaries of state energy firm Petronas were served with a seizure notice to enforce the award that the heirs won in February. read more The arbitration ruling in France followed an eight-year legal effort by the heirs and $20 million in funds raised for them from unidentified third-party investors, according to interviews with main figures in the case and legal documents seen by Reuters.Malaysia did not participate in nor recognise the arbitration - allowing the heirs to present their case without rebuttal - despite warnings that it would be dangerous to ignore the process.The claimants, including some retirees, are Filipino citizens leading middle-class lives, a far cry from their royal ancestors of the Sulu sultanate that once spanned rainforest-covered islands in the southern Philippines and parts of Borneo island.The heirs argue that the 19th century deal was a commercial lease, which is why they chose arbitration. They also claimed compensation for the vast energy reserves that have since been discovered in the territory they gave up in Malaysia's Sabah state on Borneo.Malaysia disputes that, saying the sultanate ceded sovereignty and the arbitration was illegitimate.""The arbitration is a sophisticated fiction, veiled as a legal process,"" Uria Menendez, a Spanish law firm representing Malaysia, told Reuters.Malaysia has obtained a stay in France pending an appeal – a process that could take years – but the award remains enforceable globally under a U.N. convention on arbitration.'POOREST SULTAN'Malaysia honoured the colonial-era deal until 2013, when supporters of the late Jamalul Kiram III, who claimed to be the rightful sultan of Sulu, attempted to reclaim Sabah.Clashes erupted when about 200 supporters arrived in boats from the Philippines and lasted nearly a month.Kiram, who claimed to be the ""poorest sultan in the world"", was not one of the court-recognised heirs who received payments from Malaysia.The eight claimants in the arbitration - including Kiram's daughter and cousins - who received the annual payment have condemned the attack.Up until the intrusion, the Malaysian embassy in Manila wrote a cheque to the claimants every year for ""cession money"", according to cheques and correspondence from the embassy to the heirs and shared with Reuters by the heirs' lawyers.  Malaysia's then-prime minister, Najib Razak, told Reuters he had stopped the payments due to public anger over the incursion, acknowledging the reason publicly for the first time.""I felt it was incumbent upon my duty and responsibility to protect the sovereignty of Sabah and the people of Sabah,"" he said, adding he had not anticipated retaliatory legal action.The claimants, through their lawyers, declined to be interviewed.Cohen, the heirs' lawyer, first heard of their claims from an oil and gas expert he cross examined in 2014 in an unrelated case.Knowing they did not have the financial means, Cohen in 2016 brought on board Therium, a British firm that has bankrolled legal actions by raising money from institutional investors, including a sovereign wealth fund.Therium conducted nine rounds of funding for the case, during which third-party investors repeatedly assessed its merits, said Elisabeth Mason, a lead co-counsel for the claimants with 4-5 Gray's Inn Square.The case has cost over $20 million, including lawyers and researchers in eight jurisdictions, she said.""Investors don't invest lightly in such matters,"" she said. Therium said it would continue to finance efforts to enforce the award. It declined to provide details.'LUDICROUS'The heirs notified their intention to commence arbitration in 2017 in Spain and initially sought $32.2 billion in compensation, according to the award statement.Malaysia's first response came in 2019 when then-attorney general Tommy Thomas offered to resume the annual payments and pay 48,000 ringgit ($10,800) in arrears and interest if the arbitration was dropped.  Thomas believed the demands were ""absurd and ludicrous"" but made the offer after colleagues advised him that it was ""perilous"" to disregard the arbitration as Malaysia's foreign assets could be at risk, he wrote in a 2021 memoir.The heirs rejected Thomas' offer and the arbitration went on without Malaysia's participation.Malaysia successfully challenged the appointment of Gonzalo Stampa as the sole arbitrator in a Spanish court last year.But Stampa argued in his award statement that the courts did not have jurisdiction over arbitration, and moved the case to France to deliver the award - actions that Malaysia says were unlawful.Stampa is now facing criminal proceedings in Spain following a complaint filed by Malaysia. He declined to comment to Reuters.By snubbing the arbitration, Malaysia is confined to arguing the procedural validity rather than making a case against the heirs' claims, said N. Jansen Calamita, head of Investment Law and Policy at the National University of Singapore.""It was a risky strategy and ultimately, I don't think it has served them well,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Rozanna Latiff and A. Ananthalakshmi; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",How Malaysia ended up owing $15 billion to a sultan's heirs.
"Planes of German air carrier Lufthansa are parked at Frankfurt airport in Frankfurt, Germany, June 2, 2020. REUTERS/Kai Pfaffenbach//File PhotoRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 4 (Reuters) - Germany's Lufthansa (LHAG.DE) said on Thursday it would offer only around 80% of pre-crisis passenger capacity in the third quarter, less than previously planned, amid staffing shortages at airports and airlines.The airline industry, particularly in Europe, has struggled to cope with the rapid rebound in demand, with huge queues building at many airports because of staff shortages, prompting last-minute cancellations and frustration by holidaymakers.Lufthansa returned to an operating profit in the second quarter, posting adjusted earnings before interest and tax (EBIT) of 393 million euros ($399.37 million) for the three months through June thanks to booming demand for air cargo flights, the company reported.Register now for FREE unlimited access to Reuters.comRival Air France-KLM (AIRF.PA) and British Airways-owner IAG last week also reported a return to profit in the second quarter as travellers returned to the skies following COVID-19 pandemic-related travel restrictions in 2020 and 2021.Lufthansa's passenger airline business posted an adjusted EBIT loss of 86 million euros, hit by costs related to flight disruptions. However, that was a smaller loss than the 228 million euros forecast by analysts on average.Lufthansa said it expects to post full-year adjusted group EBIT of more than 500 million euros. Analysts on average expect operating profit of 569 million euros, according to a consensus published on Lufthansa's website.($1 = 0.9841 euros)Register now for FREE unlimited access to Reuters.comReporting by Ilona Wissenbach; Writing by Maria Sheahan, Editing by Rachel More and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.",Lufthansa limits flight offerings in Q3 amid travel chaos.
"Ukrainian servicemen fire a M777 howitzer at a position on a front line, as Russia's attack on Ukraine continues, in Kharkiv region, Ukraine August 1, 2022. REUTERS/Sofiia GatilovaRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Ukraine's continued targeting of Russia military strongholds will highly likely impact Russia's logistical resupply and put pressure on Russian military combat support elements, the British military said on Thursday.Russian forces have almost certainly positioned pyramidal radar reflectors in the water near the recently damaged Antonivskiy Bridge and nearby rail bridge, Britain said in a defence update on Twitter.""The radar reflectors are likely being used to hide the bridge from synthetic aperture radar imagery and possible missile targeting equipment. This highlights the threat Russia feels from the increased range and precision of Western-supplied systems,"" Britain said.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Hazra in Bengaluru; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",UK says Ukraine's targeting of Russian strongholds pressures Russia's resupply logistics.
"A pigeon stands in front of the Bank of England in London, Britain, April 9, 2018. Picture taken April 9, 2018. REUTERS/Hannah McKayRegister now for FREE unlimited access to Reuters.comA look at the day ahead in markets from Alun JohnWill the Bank of England make history today by raising rates by 50 basis points? Probably.Will markets react much to this? Probably not. Over 70% of the 65 respondents to a Reuters poll expect the half-point increase, which is all but priced in by markets. 0#BOEWATCH read more Register now for FREE unlimited access to Reuters.comStill, a half a percentage point rise would feel like a big moment. It would be the biggest single hike since Gordon Brown made the Bank of England independent in 1997, and bring the benchmark rate to 1.75%, its highest level since the start of the global financial crisis.It could also be a way of the BOE showing its commitment to fighting inflation running at a four-decade high, and currying favour with Liz Truss, a leading prime ministerial contender who wants the BOE's policy remit to ensure it is tough on inflation. read more The BOE is not the only one scrambling to catch up with red hot inflation by raising rates, of course, and the Reserve Bank of Australia raised rates on Tuesday, marking an eye-watering 175 basis points of hikes since May.Overnight there was another raft of Fed policymakers all but telling markets they were wrong to read any dovish messages from Fed Chair Jerome Powell's remarks last week alongside a stonking 75 basis point U.S. rate hike. read more Markets were only half listening though. The dollar and U.S. benchmark yields held their recent gains, but share markets decided to shut their ears to the Fedspeak.MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) gained 0.5% in morning trade on Thursday after the S&P 500 had closed up 1.5% (.SPX).Strong earnings in the U.S. drove some of the gains, and investors in Europe will be looking to see whether companies such as Credit Agricole (CAGR.PA) , Lufthansa (LHAG.DE) and Bayer (BAYGn.DE) can keep up the momentum, with Chinese tech giant Alibaba due before the U.S. open.The end of House Speaker Nancy Pelosi's visit to Taiwan also helped ease some tensions, but only a bit, as today she continues her tour of geopolitical flashpoints with a trip to the border between North and South Korea. read more BoEKey developments that should provide more direction to markets on Thursday include:Bank of England meeting - decision due 11 GMT - as well as remarks from Federal Reserve Bank of Cleveland President Loretta Mester and a Czech central bank meetingTrade data from Australia, the U.S. and CanadaEuropean earnings: ING, Credit Agricole, Deutsche Lufthansa, BayerUS earnings: CIGNA, Eli Lilly, Thomson Reuters Corp, , Duke Energy, Alibaba, ConocoPhillips, Kellogg Co, Amgen, Expedia, Wynn ResortsTAKE A LOOK-Bank of England torn between inflation surge and recession risks -Oil prices rebound on supply concerns after drop to near 6-month low - read more Register now for FREE unlimited access to Reuters.comReporting by Alun John; Editing by Vidya RanganathanOur Standards: The Thomson Reuters Trust Principles.",Morning Bid: History and fifty club beckon BOE.
"Masih Alinejad, Iranian journalist and women's rights activist, speaks on stage at the Women In The World Summit in New York, U.S, April 12, 2019. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - U.S. National Security Advisor Jake Sullivan spoke with Iranian-American journalist Masih Alinejad on Wednesday and expressed his concern over her safety following the arrest of a man with a rifle outside her home in New York last week, an NSC spokesperson said in a statement.The man, Khalid Mehdiyev, spent two days last week outside the home of Alinejad, and at one point attempted to open the door, an FBI agent wrote in a complaint filed in Manhattan federal court last week. Police stopped him after he ran a stop sign and found the gun in the back seat of the car, according to the complaint. read more Alinejad, who saw the incident as an attempt on her life by Tehran, said: ""what the Iranian regime did, first trying to kidnap me and now sending someone here trying to kill me, it's a pattern. It's a continuation of their way of oppressing dissidents inside and outside Iran.""Register now for FREE unlimited access to Reuters.comOn Wednesday, Sullivan said U.S. President Joe Biden will continue to receive updates on her situation, and added that the administration will continue to protect its citizens and dissidents from threats from the Persian Gulf nation.""...the U.S. Government will use all tools at its disposal to disrupt and deter threats from Iran, including those which target U.S. citizens and dissidents living in the United States,"" the NSC statement said.Last year, Alinejad was said to be the target of a Tehran-backed kidnapping plot. She has promoted videos of women violating Iran's head covering law to her millions of social media followers. read more Register now for FREE unlimited access to Reuters.comReporting by Shivani Tanna in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Sullivan expresses concern over Iranian-American journalist's safety.
"The Adidas shoe Azteca Gold 1968 is displayed during celebrations for German sports apparel maker Adidas' 70th anniversary at the company's history exhibition in Herzogenaurach, Germany, August 9, 2019. REUTERS/Andreas GebertRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 4 (Reuters) - Adidas (ADSGn.DE) on Thursday said operating profit fell by 28% in the second quarter to 392 million euros ($398.43 million), as results suffered from suspending business in Russia, higher supply chain costs and COVID-19 lockdowns in China and Vietnam.The German sportswear firm said currency-neutral sales rose 4% in the quarter but net income from continuing operations declined to 360 million euros from 387 million euros in the same period last year.The company had cut its 2022 outlook in July, citing slower than expected recovery in China, and now expecting currency-neutral revenues to grow at a mid- to high-single-digit rate this year. read more ($1 = 0.9839 euros)Register now for FREE unlimited access to Reuters.comReporting by Riham Alkousaa, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.",Adidas posts 28% decline in Q2 operating profit despite sales increase.
"A TV screen shows that China's People's Liberation Army has begun military exercises including live firing on the waters and in the airspace surrounding the island of Taiwan, as reported by Chinese state television, in Hong Kong, China August 4, 2022. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comSummaryChinese military exercises, involving live-fire, beginSuspected drones fly over outlying Taiwanese islandsTaiwan says several government websites hackedChina says it's an internal affairTAIPEI, Aug 4 (Reuters) - China launched unprecedented live-fire military drills in six areas that ring Taiwan on Thursday, a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that Beijing regards as its sovereign territory.Soon after the scheduled start at 0400 GMT, China's state broadcaster CCTV said the drills had begun and would end at 0400 GMT on Sunday. They would include live firing on the waters and in the airspace surrounding Taiwan, it said. read more Taiwan officials have said the drills violate United Nations rules, invade Taiwan's territorial space and are a direct challenge to free air and sea navigation.Register now for FREE unlimited access to Reuters.comChina is conducting drills on the busiest international waterways and aviation routes and that is ""irresponsible, illegitimate behaviour,"" Taiwan's ruling Democratic Progressive Party said.Map showing the six locations where China will conduct military drills.Taiwan's cabinet spokesman, expressing serious condemnation of the drills, said also that websites of the defence ministry, the foreign ministry and the presidential office were attacked by hackers.Chinese navy ships and military aircraft briefly crossed the Taiwan Strait median line several times on Thursday morning, a Taiwanese source briefed on the matter told Reuters. read more By midday on Thursday, military vessels from both sides remained in the area and in close proximity.Taiwan scrambled jets and deployed missile systems to track multiple Chinese aircraft crossing the line.""They flew in and then flew out, again and again. They continue to harass us,"" the Taiwanese source said.On Wednesday night, just hours after Pelosi left for South Korea, unidentified aircraft, probably drones, flew above the area of Taiwan's outlying Kinmen islands near the mainland coast, Taiwan's defence ministry said. read more China, which claims Taiwan as its own territory and reserves the right to take it by force, said on Thursday its differences with the self-ruled island were an internal affair. read more ""Our punishment of pro-Taiwan independence diehards, external forces is reasonable, lawful,"" China's Beijing-based Taiwan Affairs Office said.China's Foreign Minister Wang Yi called Pelosi's visit to Taiwan a ""manic, irresponsible and highly irrational"" act by the United States, state broadcaster CCTV reported.Wang, speaking at a meeting of Southeast Asian foreign ministers in Phnom Penh, Cambodia, said China had made the utmost diplomatic effort to avert crisis, but would never allow its core interests to be hurt.The foreign ministers in a statement had earlier warned that volatility caused by tensions in the Taiwan Strait could lead to ""miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers"". read more 'COMRADE PELOSI'Unusually, the drills in six areas around Taiwan were announced with a locator map circulated by China's official Xinhua news agency earlier this week - a factor that for some analysts and scholars shows the need to play to both domestic and foreign audiences. read more On Thursday, the top eight trending items on China's Twitter-like Weibo service were related to Taiwan, with most expressing support for the drills or fury at Pelosi.""Let's reunite the motherland,"" several users wrote.In Beijing, security in the area around the U.S. Embassy remained unusually tight on Thursday as it has been throughout this week. There were no signs of significant protests or calls to boycott U.S. products.""I think this (Pelosi's visit) is a good thing,"" said a man surnamed Zhao in the capital's central business district. ""It gives us an opportunity to surround Taiwan, then to use this opportunity to take Taiwan by force. I think we should thank Comrade Pelosi.""Pelosi, the highest-level U.S. visitor to Taiwan in 25 years, praised its democracy and pledged American solidarity during her brief stopover, adding that Chinese anger could not stop world leaders from travelling there.China summoned the U.S. ambassador in Beijing in protest against her visit and halted several agricultural imports from Taiwan.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,"" Pelosi told Taiwan's President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more ""Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today.""The United States and the foreign ministers of the Group of Seven nations warned China against using Pelosi's visit as a pretext for military action against Taiwan.White House national security spokesman John Kirby said earlier in the week that Pelosi was within her rights to visit Taiwan, while stressing that the trip did not constitute a violation of Chinese sovereignty or America's longstanding ""one-China"" policy.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself.China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Additional reporting by Tony Munroe and Martin Quin Pollard in Beijing; Writing by Raju Gopalakrishnan; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","Taiwan decries China's 'illegitimate, irresponsible' live-fire military drills."
"Chinese Foreign Minister Wang Yi attends the ASEAN Foreign Ministers Meeting in Phnom Penh, Cambodia August 4, 2022. REUTERS/Soe Zeya TunRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 4 (Reuters) - China's Foreign Minister Wang Yi on Thursday called U.S. House Speaker Nancy Pelosi's visit to Taiwan a ""manic, irresponsible and highly irrational"" action by the United States, state broadcaster CCTV reported.Wang, speaking at the ASEAN Foreign Ministers meeting in Phnom Penh, Cambodia, said China has made the utmost diplomatic effort to avert crisis, but will never allow its core interests to be hurt.China's current and future measures are necessary and timely defensive countermeasures, carefully considered and evaluated, aimed at safeguarding national sovereignty and security, in line with international and domestic law, CCTV cited Wang as saying.Register now for FREE unlimited access to Reuters.comReporting by Beijing Newsroom; Writing by Martin Quin Pollard; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","China foreign minister calls Pelosi's Taiwan visit 'manic', 'irrational'."
"The hometown of Ukraine's President Volodymyr Zelenskyy is looking increasingly vulnerable, coming under repeated attacks from Russian forces in recent days, with Ukraine's southern army unit saying Russia is building a military ""strike force"" to target Kryvyi Rih.Early Thursday, Ukraine's southern military command said the situation in its operational area — where fighting is intensifying around Zelenskyy's hometown of Kryvyi Rih as well as Zaporizhzhia to the east and Mykolaiv and Kherson to the south — is ""tense and complex.""Ukraine has warned that Russia is carrying out a ""massive redeployment"" of troops from the east to the south of Ukraine as it tries to defend its territorial gains against Ukraine's attempts to reclaim occupied Kherson and areas around Zaporizhzhia. The battle for eastern Ukraine is ongoing, however, with Zelenskyy describing the situation in the Donbas as hellish, adding that Russia still has the upper hand in the region.Kyiv has ordered the mandatory evacuation of residents in the Donbas amid intense fighting.Russian 'strike force' building to target Zelenskyy's hometown of Kryvyi RihKryvyi Rih, the hometown of Ukraine's President Volodymyr Zelenskyy, is looking increasingly vulnerable with Ukraine saying Russia is building a military ""strike force"" to target the industrial city in central-southern Ukraine.Early Thursday, Ukraine's southern military command saying the situation in its operational area — where fighting is intensifying around Kryvyi Rih as well as Zaporizhzhia to the east, and Mykolaiv and Kherson to the south — is ""tense and complex.""""The enemy continues to conduct hostilities on the occupied line of defense. In order to prevent the advance of our troops and restore the lost position, the composition of the group in the Kryvyi Rih direction is increasing due to the transfer of units of the 35th Army of the Eastern Military District,"" the unit said, saying that Russian aircraft were becoming ""more active"" and attacking the area south of Kryvyi Rih.Residential buildings and industrial plants across the city skyline in Kryvyi Rih, Ukraine, on Wednesday, June 29, 2022.Bloomberg | Bloomberg | Getty ImagesUkraine's southern military command said in a previous update on Wednesday that it believed Russia was creating a military ""strike group in the Kryvyi Rih region"" and that ""it's also quite likely that the enemy is preparing a hostile counter-offensive with the subsequent plan of getting to the administrative boundary of Kherson region.""Officials in Ukraine have repeatedly warned in recent days that Russia is redeploying a massive number of troops to the south of the country, where Ukraine has launched counteroffensives to try to regain lost territory, particularly the occupied city of Kherson.Ukrainian artillerymen in the military assembly center check the weapons and special equipment to make them ready before they go to their duties at the frontline in Kherson, Ukraine on July 15, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesIn his nightly address on Sunday evening, Zelenskyy praised the bravery of residents in his hometown, as well as other cities under repeated attack as Russia looks to extend its territorial gains in east and southern Ukraine.""I want to thank every resident of Mykolaiv for their indomitability, for protecting the city and the region. I also thank Nikopol, Kharkiv, Kryvyi Rih and the entire Dnipropetrovsk region, the strong people of Zaporozhzhia and the region, all Ukrainians of the Kherson region, everyone who defends the approaches to Odessa and the region ... Thank you for your courage."" ""Strategically, Russia has no chance of winning this war,"" he added.— Holly EllyattZelenskyy says he wants to speak with Chinese President Xi JinpingUkrainian President Volodymyr Zelensky is seen during a joint press conference with Swedish Prime Minister Magdalena Andersson on July 4, 2022 in Kyiv, Ukraine. Zelenskyy is seeking an opportunity for direct talks with Chinese leader Xi Jinping to help end Russia's unprovoked war in Ukraine, the South China Morning Post reported.Alexey Furman | Getty Images News | Getty ImagesUkrainian President Volodymyr Zelenskyy wants to speak directly with Xi Jinping in hopes China's president could use the country's influence to end Russia's unprovoked war in Ukraine.In an interview with the South China Morning Post, Zelenskyy said Ukraine has pursued talks with China since the beginning of the war. He told the newspaper that Russia would feel much more economically isolated without the Chinese market and could use that to pressure Russian President Vladimir Putin to stop the war.China has repeatedly said it supports a ""peaceful resolution"" to the situation in Ukraine, but has so far refused to call Russia's war an ""invasion.""— Natalie ThamU.S. Senate approves Finland and Sweden's membership to NATOSweden's Foreign Minister Ann Linde and Finland's Foreign Minister Pekka Haavisto attend a news conference with NATO Secretary General Jens Stoltenberg, after signing their countries' accession protocols at the alliance's headquarters in Brussels, Belgium July 5, 2022.Yves Herman | ReutersThe U.S. Senate voted 95 to 1 to ratify Finland and Sweden's entrance to the North Atlantic Treaty Organization, calling expansion of the Western defensive bloc a ""slam-dunk"" for U.S. national security and a day of reckoning for Russian President Vladimir Putin over his invasion of Ukraine.Senators invited the ambassadors of the two Nordic nations to witness the debate and the vote, a crucial step in opening a new era for the now 30-member North Atlantic Treaty Organization and its 73-year-old pact of mutual defense among the United States and democratic allies in Europe.President Joe Biden has sought quick entry for the two previously non-militarily aligned northern European nations. Their candidacies have won ratification from more than half of the NATO member nations in the roughly three months since the two applied, a purposely rapid pace meant to send a message to Russia over its six-month-old war against Ukraine's West-looking government.""It sends a warning shot to tyrants around the world who believe free democracies are just up for grabs,"" Sen. Amy Klobuchar, D-Minn., said in the Senate debate ahead of the vote.""Russia's unprovoked invasion has changed the way we think about world security,"" she added.— Associated PressUkraine nuclear plant is 'out of control,' UN nuclear chief saysInternational Atomic Energy Agency (IAEA) Director General Rafael Grossi attends a joint news conference after talks in Tokyo, Japan May 19, 2022.Issei Kato | ReutersThe U.N. nuclear chief warned that Europe's largest nuclear power plant in Ukraine ""is completely out of control"" and issued an urgent plea to Russia and Ukraine to quickly allow experts to visit the sprawling complex to stabilize the situation and avoid a nuclear accident.Rafael Grossi, director general of the International Atomic Energy Agency, said in an interview Tuesday with The Associated Press that the situation is getting more perilous every day at the Zaporizhzhia plant in the southeastern city of Enerhodar, which Russian troops seized in early March, soon after their Feb. 24. invasion of Ukraine.""Every principle of nuclear safety has been violated"" at the plant, he said. ""What is at stake is extremely serious and extremely grave and dangerous.""Grossi cited many violations of the plant's safety, adding that it is ""in a place where active war is ongoing,"" near Russian-controlled territory.— Associated PressZelenskyy says 'global security architecture' is not working, cites tensions in the Balkans and TaiwanUkraine's President Volodymyr Zelenskyy attends a working session of G7 leaders via video link, as Russia's attack on Ukraine continues, in Kyiv, Ukraine June 27, 2022.Ukrainian Presidential Press Service | via ReutersUkrainian President Volodymyr Zelenskyy said the ""global security architecture"" is not working, and referenced tensions in the Balkans, Taiwan and in the Caucasus.""If it worked, there wouldn't be all these conflicts,"" Zelenskyy said in his nightly address on the Telegram messaging app.""And this is actually something that Ukraine has been paying attention to not only 161 days after the start of a full-scale war, but for years. Ever since Russia completely ignored international law, the interests of humanity as such,"" he added.— Amanda MaciasRead CNBC's previous live blog here:",Russian 'strike force' builds around Zelenskyy's hometown; fears grow for 'out of control' nuclear power plant.
"A woman passes ASEAN Summit flags at Suntec Convention Centre in Singapore, November 11, 2018. REUTERS/Edgar SuRegister now for FREE unlimited access to Reuters.comPHNOM PENH, Aug 4 (Reuters) - Southeast Asia's regional bloc ASEAN warned on Thursday of a risk that volatility caused by tensions in the Taiwan Strait could lead to ""miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers"".The Association of Southeast Asian Nations made the remarks in a statement from foreign ministers after its chair, Cambodia, had urged all sides to de-escalate tension over Taiwan.The meeting in Phnom Penh of the 10-nation bloc, which is being attended by a string of other countries including China and the United States, has been overshadowed by developments in Taiwan following the visit by the U.S. house speaker Nancy Pelosi.Register now for FREE unlimited access to Reuters.com""ASEAN stands ready to play a constructive role in facilitating peaceful dialogue between all parties,"" ASEAN said as it called for maximum restraint and for parties to refrain from provocative action.
The Pelosi trip, the highest level U.S. visit to self-ruled Taiwan in 25 years, has sparked outrage in China, which has responded with a burst of military exercises and other activity in the area. read more Southeast Asian countries tend to tread a careful line in trying to balance their relations with China and the United States, wary of getting in between the super powers.U.S. Secretary of State Antony Blinken, in comments after talks with his Indian counterpart Subrahmanyam Jaishankar, said he had been able to compare notes with a close partner ""as we head into these very important ASEAN meetings"".""We have a shared vision together for a free and open Indo-Pacific,"" said Blinken, who is not expected to hold a meeting with Chinese Foreign Minister Wang Yi in Cambodia.Blinken, who is among 27 foreign ministers set to join an ASEAN Regional Forum security meeting on Friday, said his meeting with Jaishankar had covered ""the situation in Sri Lanka, Burma, and a number of other hot spots"".PUSHING MYANMARThe ASEAN talks had been expected to focus on the bloc's foundering diplomatic push to resolve the crisis in Myanmar, also known as Burma, which has been in turmoil since the military seized power in a coup last year.Cambodian Prime Minister Hun Sen said on Wednesday that ASEAN would be forced to reconsider a peace plan agreed with Myanmar if its military rulers executed more prisoners.ASEAN has pushed the Myanmar junta to follow a peace ""consensus"" agreed last year and has condemned its recent execution of four activists linked to a movement opposed to military rule, its first executions in decades.The Myanmar junta last week defended the executions as ""justice for the people"", brushing off a deluge of international condemnation. read more Myanmar is not represented at this week's ASEAN meetings after its military declined a proposal to send a non-junta representative. ASEAN has barred the generals until progress in the peace plan is demonstrated.Some members of ASEAN have been increasingly strident in their criticism of Myanmar.Singapore's foreign ministry said on Wednesday Myanmar had ""disrespected"" the peace effort, adding ""without any progress on this front, further engagement with the Myanmar military authorities would be of limited value"".Still, some analysts and diplomats question what other measures ASEAN, which has a tradition of non-interference in each other's internal affairs, will be prepared to take against fellow member Myanmar.Register now for FREE unlimited access to Reuters.comReporting by Narin Sun and David Brunnstrom in Phnom Penh;
Writing by Ed Davies
Editing by Muralikumar Anantharaman, Robert BirselOur Standards: The Thomson Reuters Trust Principles.","ASEAN warns on risk of Taiwan 'miscalculation', ready to help dialogue."
"A man wearing a protective mask walks past the headquarters of the Bank of Japan amid the coronavirus disease (COVID-19) outbreak in Tokyo, Japan, May 22, 2020.REUTERS/Kim Kyung-Hoon/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesJGB market situation 'comfortable' thanks to BOJ - MOF's SaitoMust bear in mind BOJ's yield cap won't last forever - SaitoGovt must take steps to enhance JGB market liquidityRemarks show policymakers quietly preparing for future lift-offTOKYO, Aug 4 (Reuters) - Japan must prepare for the time the central bank abandons its 0% cap on long-term interest rates and when private investors become the dominant player in the government bond market, said a finance ministry executive overseeing debt issuance.While the Bank of Japan's (BOJ) massive bond buying may be reducing market liquidity, it has not caused any disruption to the government's fund raising, said Michio Saito, who heads the ministry's division charged with issuing Japanese government bonds (JGBs).""It's a comfortable situation for us in that we are able to stably issue JGBs at low interest rates, thanks in part to the effect of the BOJ's monetary policy,"" Saito told Reuters in an interview on Thursday.Register now for FREE unlimited access to Reuters.com""But we must bear in mind the BOJ's current policy won't last forever. Sometime in the future, it won't buy as much bonds as it does now, and will no longer peg interest rates at a set level,"" he said.The Ministry of Finance (MOF) must prepare for the time the central bank modifies ultra-low rates, such as by taking steps to enhance liquidity in the JGB market, said Saito, who became director-general of the ministry's financial bureau in June.Saito, known as ""Mr. JGB"" for his expertise in the market, said his division will work on developing market infrastructure for when private investors replace the BOJ as a major player in the JGB market.The remarks highlight how Japanese policymakers are quietly laying the groundwork for when the BOJ withdraws its massive stimulus, as its counterparts across the globe tighten monetary policy to deal with soaring inflation.""We're working closely with the BOJ to ensure the JGB market's function does not deteriorate too much,"" Saito said.Under its yield curve control (YCC) policy, the BOJ caps the 10-year yield around 0% and offers to buy unlimited amount of JGBs to defend an implicit 0.25% cap around the target.BOJ Governor Haruhiko Kuroda has repeatedly brushed aside the chance of a near-term exit from ultra-low rates, stressing the need to focus on supporting a fragile economic recovery.But deputy governor Masayoshi Amamiya, considered a strong candidate to succeed Kuroda when his term ends next April, has said the BOJ must always think about the appropriate means for exiting ultra-easy policy. read more After years of massive buying to fire up inflation to its 2% target, the BOJ now owns half of outstanding JGBs in the market.Mounting upward pressure on yields forced the BOJ to buy a record monthly amount of JGBs in June to defend its yield cap, rolling back years of efforts to taper its huge buying and drawing criticism from investors for distorting market pricing.Register now for FREE unlimited access to Reuters.comReporting by Leika Kihara and Takaya Yamaguchi; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.","Japan must prepare for eventual end to BOJ's yield cap, says MOF executive."
"Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali Khara/File PhotoRegister now for FREE unlimited access to Reuters.comISLAMABAD, Aug 4 (Reuters) - The Taliban are investigating a U.S. ""claim"" that al Qaeda leader Ayman al-Zawahiri was killed in a U.S. drone strike in Kabul, a Taliban official said on Thursday, indicating the group's leadership were not aware of his presence there.The United States killed Zawahiri with a missile fired from a drone while he stood on a balcony at his Kabul hideout on Sunday, U.S. officials said, in the biggest blow to the militants since Osama bin Laden was shot dead more than a decade ago. read more ""The government and the leadership wasn’t aware of what is being claimed, nor any trace there,"" Suhail Shaheen, the designated Taliban representative to the United Nations, who is based in Doha, told journalists in a message.Register now for FREE unlimited access to Reuters.com""Investigation is underway now to find out about the veracity of the claim,"" he said, adding that the results of the investigation would be shared publicly.Taliban leaders have remained largely tight-lipped about the Sunday drone strike and have not confirmed the presence or death of Zawahiri in Kabul.Top Taliban leaders have been holding lengthy discussions about how to respond to the U.S. drone strike, three sources in the group said. read more How the Taliban react could have significant repercussions as the group seeks international legitimacy and access to billions of dollars in frozen funds, following their defeat of a U.S.-backed government a year ago.Zawahiri, an Egyptian doctor, was closely involved in the Sept. 11, 2001, attacks on the United States and was one of the world's most wanted men. read more His death in Kabul raises questions about whether he received sanctuary from the Taliban, who had assured the United States as part of a 2020 agreement on the withdrawal of U.S.-led forces that they would not harbour other militant groups.Shaheen said the Islamic Emirate of Afghanistan - the name the Taliban use for the country and their government - was committed to the agreement, signed in the Qatari capital, Doha.U.S. Secretary of State Antony Blinken said the Taliban had ""grossly violated"" the agreement by hosting and sheltering Zawahiri.Register now for FREE unlimited access to Reuters.comReporting by Gibran Peshimam; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Taliban say investigating U.S. claim of killing al Qaeda leader.
"A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Register now for FREE unlimited access to Reuters.comSHANGHAI, Aug 4 (Reuters) - Foreign investors continued to cut holdings in Chinese bonds in July and dumped equities for the first time in four months, according to a report by the Institute of International Finance (IIF).Emerging markets posted a fifth straight month of portfolio outflows, setting the longest such streak in records going back to 2005, as global recession risk, inflation and a strong dollar drew away cash, showed the report released on Wednesday. read more Chinese debt witnessed outflows of around $3 billion last month, while $6 billion exited other EM, IIF estimated.Register now for FREE unlimited access to Reuters.comIf confirmed by official data, it would be the sixth consecutive month of foreign outflows from China's $20 trillion bond market.During the same period, China's stock market witnessed $3.5 billion of foreign outflows, compared with marginal inflows of $2.5 billion in other EM markets, IIF added.The benchmark CSI 300 Index (.CSI300) dropped 7%, down every week in July, as domestic COVID-19 flare-ups, property woes and global recession risks weighed.""China's A-shares saw a range-bound, generally weaker trend since July under both domestic and overseas influences,"" China International Capital Corporation (CICC) said in a note.Data showed the world's second-largest economy slowed sharply in the second quarter, missing market expectations with an only 0.4% increase from a year earlier.With impacts from the Ukraine war still not waned, Sino-U.S. tensions over Taiwan mounted as U.S. House of Representatives Speaker Nancy Pelosi visited the self-ruled island claimed by Beijing.""For the coming months, several factors will influence flows dynamics, among these the timing of inflation peaking and the outlook for the Chinese economy will be in focus,"" IIF said.Overseas investors have been reducing holdings of Chinese bonds since February, as diverging monetary policies kept Chinese yields pinned below their U.S. counterparts.The People's Bank of China has been easing policy to aid a COVID-hit economy, while the U.S. Federal Reserve has been hiking rates to fight soaring inflation.Register now for FREE unlimited access to Reuters.comReporting by Jason Xue and Brenda Goh; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.","Foreigners cut China debt, dump equities in July - IIF."
"A testing site for the coronavirus disease (COVID-19) is seen in Wellington, New Zealand, March 11, 2022. REUTERS/Lucy CraymerRegister now for FREE unlimited access to Reuters.comWELLINGTON, Aug 4 (Reuters) - New Zealand's health ministry sees strong signs that the country's latest COVID-19 wave has peaked, as new cases continue to trend lower.The number of people in hospitals with COVID is also down on late July.""The case rates have continued to trend lower across all regions for the second week running,"" Andrew Old, head of the New Zealand Public Health Agency, told reporters on Thursday.Register now for FREE unlimited access to Reuters.comIn the past seven days there were on average 6,142 new cases daily of COVID, down from a seven-day rolling average of 7,776 new cases a week earlier, according to Health Ministry data released on Thursday.According to data issued on Thursday, 663 people are in hospital with COVID, well below levels seen in late July, when more than 800 people were in hospital with the virus.Australia is seeing signs of an unexpectedly early peak in its winter outbreak. Australian Health Minister Mark Butler told Nine News that the government was quietly hoping cases had begun falling. read more New Zealand's latest modelling showed case numbers were at the lower end of what had been expected. The decline ""strongly suggests we've reached a peak,"" Old said.The Omicron BA.5 sub-variant is driving the current wave in New Zealand, which has 5.1 million people. There have been 44,776 active cases in the past seven days.Register now for FREE unlimited access to Reuters.comReporting by Lucy Craymer; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.","New COVID case numbers in New Zealand trending lower, signs wave peaked."
"A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India, August 13, 2018. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 4 (Reuters) - India's rupee will trade near its historic low in the coming three months, despite a recent recovery, based on a widening trade deficit and global flows into safe-haven U.S. dollars, a Reuters poll of foreign exchange strategists found.After a month of trading near a nadir of 80.065 per dollar, the currency strengthened to a one-month high of 78.490 on Tuesday, providing relief for the Reserve Bank of India, which has been burning through foreign currency reserves defending 80 per dollar. read more But the revival is not likely to last. The median forecast in an Aug. 1-3 Reuters poll of 40 analysts showed it trading back near an all-time low by end-October.Register now for FREE unlimited access to Reuters.comNearly 50% of analysts, 18 of 40, expected the partially convertible rupee to have reached or breached the 80 per dollar mark in three months, compared with just 30% who said so in a July poll. Most saw it sinking to a new record low.Asked what would be the rupee's lowest point against the dollar over the course of the next three months, 16 analysts who answered an extra question gave a median of 80.50, with a range of 79.75-81.80/$.Much will depend on what the Reserve Bank of India decides to do with interest rates. In a separate Reuters poll, it was expected to raise the repo rate, currently at 4.90%, by a minimum of 35 basis points on Friday, but economists were split four ways on the size of the move.Sakshi Gupta, an economist from HDFC Bank said the focus is now on whether or not the U.S. Federal Reserve delivers a third consecutive 75 basis point interest rate hike at its September meeting.""The RBI is not likely to be as aggressive...further depressing the rupee,"" she said.India's central bank, which only began raising rates in May, is relatively behind in its hiking campaign and is only due to deliver 110 basis points more in total.Gupta also said the latest U.S.-China tensions added to an already attractive environment for the safe-haven U.S. dollar.""That suggests the recent rally is short-lived and there is a strong possibility of the rupee breaching the 80 mark,"" she said.But not everyone was convinced the rupee would weaken, as continued bouts of speculation the Fed may deliver fewer rate hikes and the recent slump in commodity prices may restrain the dollar from making further gains.""The RBI may be required to intervene less to defend the rupee over the coming months than it has so far this year,"" noted Shilan Shah, senior India economist at Capital Economics, who argues most of the rise in the dollar is now over and commodity prices will also fall back in coming months.The latest poll showed the currency was expected to recover to 78.83 per dollar by end-July next year.(For other stories from the August Reuters foreign exchange polls:)Register now for FREE unlimited access to Reuters.comReporting by Arsh Tushar Mogre; Polling by Anant Chandak and Devayani Sathyan; Editing by Ross Finley and Christina FincherOur Standards: The Thomson Reuters Trust Principles.",Indian rupee set to trade near historic low in coming three months: Reuters poll.
"U.S. Deputy Secretary of State Wendy Sherman speaks during a panel with the Friends of Europe in Brussels, Belgium, April 21, 2022. REUTERS/Johanna Geron/File PhotoRegister now for FREE unlimited access to Reuters.comSYDNEY, Aug 4 (Reuters) - A senior U.S. diplomat will travel to Samoa on Thursday on a multi-leg trip to Pacific Island countries intended to demonstrate re-engagement by the United States with a region in which China has been extending its influence.Deputy Secretary of State Wendy Sherman will travel to Samoa and then Tonga, where she will be the most senior U.S. official to visit, before attending World War Two commemorations in the Solomon Islands.The United States is concerned about China's ambitions to extend its military presence in the Pacific, after it struck a security pact with the Solomon Islands this year.Register now for FREE unlimited access to Reuters.comTonga has external debt of $195 million or 35.9% of its gross domestic product, of which two-thirds is owed to China's Export-Import Bank, its budget shows. read more Sherman will discuss plans to open U.S. embassies in Tonga and the Solomon Islands and the return of the U.S. Peace Corps aid programme, the State Department said.A high-level U.S. delegation to the Solomon Islands to commemorate a major World War Two battle between the United States and Japan will proceed, despite disruptions to tourists caused by the sudden cancellation of many commercial flights, officials said on Thursday. read more The suspension of flights to Honiara by Fiji Airways for safety concerns will see dozens of U.S. tourists miss the commemoration on Saturday, a tourism official said. Fiji Airways is one of two airlines regularly servicing the Solomons.Sherman and U.S. Ambassador to Australia Caroline Kennedy, whose fathers served in the Solomon Islands, will attend the U.S. government ceremony for the 80th anniversary of the Battle of Guadalcanal.The anniversary was expected to bring a tourism boom to the Solomon Islands, which last month re-opened its borders after the COVID-19 pandemic. The loss of tourism income during border closures across the Pacific islands had a severe impact on the region's fragile economies.Fiji Airways said in a statement it had suspended its flights to the Solomon Islands because of worry about the condition of the runway.Solomon Islands tourism officials said the suspension was ""a blow"", and they were trying to re-route tourists booked to attend the World War Two events.Tourism Solomons head of sales Fiona Teama said the events would go ahead, although the tour group travelling from the United States would miss the U.S. government's commemoration on Saturday because they would not arrive in time.U.S. and Australian government aircraft carrying officials would continue to land at Honiara's Henderson Airport, she said.Sherman will also visit Australia and New Zealand.Register now for FREE unlimited access to Reuters.comReporting by Kirsty Needham; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Top U.S. diplomat to arrive in Pacific amid battle for influence with China.
"U.S. House of Representatives Speaker Nancy Pelosi meets with South Korea?s National Assembly Speaker Kim Jin-pyo in Seoul, South Korea August 4, 2022. Kim Min-Hee/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comSEOUL, Aug 4 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi and her South Korean counterpart vowed on Thursday to support efforts to maintain a strong deterrence against North Korea and achieve its denuclearisation.A joint statement was issued after Pelosi met South Korea's National Assembly Speaker Kim Jin-pyo in Seoul, during which they expressed concerns over the North's evolving nuclear and missile threats.Pelosi arrived in South Korea late on Wednesday following a brief stop in Taiwan, and met U.S. embassy officials in Seoul earlier on Thursday before talks with Kim and other lawmakers.Later on Thursday, Pelosi plans to visit the Joint Security Area near the heavily fortified inter-Korean border, patrolled together by American-led U.N. Command and North Korea, a South Korean official said.She would be the highest-level U.S. official to visit the area after former President Donald Trump, who met North Korean leader Kim Jong Un there in 2019.Register now for FREE unlimited access to Reuters.comReporting by Hyonhee Shin, Joori Roh and Soo-hyang Choi; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","Pelosi vows support to denuclearise N.Korea, plans to visit Korea border."
"Two thousand rupee notes on display with an Indian flag in the background.Manish Rajput | SOPA Images | LightRocket via Getty ImagesThe Indian rupee has come under intense selling pressure due to a perfect storm of global headwinds which analysts say will continue to pummel the currency in the months ahead.In recent weeks, the Indian currency tested record lows and breached the 80 rupees per U.S. dollar level at least twice in July, recovering only after the Reserve Bank of India (RBI) stepped in to stem the slide.The currency has since regained some ground and was around 79.06 to the dollar on Thursday.The recent sharp declines prompted a swift response from policymakers to assuage concerns about a rupee sell-off, which could drive prices even lower.Finance Minister Nirmala Sitharaman attributed the rupee's depreciation to external reasons, in a written statement to parliament in late July.  Global factors such as the ongoing Russia-Ukraine war, soaring crude oil prices and tightening of global financial conditions are among the key reasons for the weakening of the Indian rupee against the dollar, she said. Analysts agreed the currency is being buffeted from multiple fronts globally.Soaring energy prices India's exposure to high energy prices has had knock-on effects on the currency, with the rupee falling more than 5% against the dollar year-to-date.Soaring energy prices are especially challenging for India — the world's third largest oil importer — which typically buys oil in dollars. When the rupee weakens, its oil purchases become more expensive. According to Nomura analysts, for every $1 increase in the price of oil, India's import bill increases by $2.1 billion.There's been a ""significant uptick"" in Russian oil deliveries bound for India since March after Russia's invasion of Ukraine began — and New Delhi looks set to buy even more cheap oil from Moscow, industry observers say.Early data from June showed India's supply of Russian crude reached nearly 1 million barrels per day, up from 800,000 barrels per day in May, according to investment advisory firm Again Capital. ""Usually, weaker currency acts as a pressure valve to restore external stability by making exports more competitive and reducing demand for imports by making them more expensive,"" said Adarsh Sinha, co-head for Asia-Pacific forex and rates strategy at the Bank of America Securities.""Oil imports from Russia, if settled in rupee, would reduce dollar demand from oil importers. These rupees could be used to settle payment for Indian exports, and/ or invested into India – both could be beneficial,"" he told CNBC.Read more about energy from CNBC ProIn July, India's central bank put in place a mechanism for international trade settlements in Indian rupees. The measure allows traders to bill, pay and settle imports and exports using the Indian rupee, which will help a long-term goal to internationalize the Indian currency, analysts said.""This move is constructive for the rupee in the medium-term as higher INR [Indian rupees] demand for settlements implies lower demand for forex for current account transactions,"" Radhika Rao, senior vice president and economist at DBS bank, said in a recent note.This will facilitate ""trade with neighboring countries, with trading partners who are unable to access dollar funds and/are temporarily outside the international trading mechanism and those looking to broaden their pool of trade settlement currencies,"" she wrote.Remittances remain resilientWhile a weak rupee puts pressure on India's imports from other countries, it may help boost the country's remittances from abroad.Remittance flows to India grew by 8% to $89.4 billion in 2021, based on recovery in the United States, which accounts for a fifth of the country's remittances, according to World Bank data.""Remittances could be determined by many factors but [a] weaker rupee helps increase domestic value of those remittances which would help offset inflationary pressures for the recipients,"" said Sinha from BofA Securities.Goldman Sachs also said in a recent note remittances to India ""should remain resilient on the back of stable economic growth in the Middle East, benefiting from higher oil prices.""Deficit problemsStill, India's widening current account deficit is expected to remain a continuing drag for the rupee, exacerbated by ongoing large capital outflows, analysts warned.""India's external balances are deteriorating, driven by a terms-of-trade shock from elevated commodity prices, which is resulting in wider current account deficits,"" said Santanu Sengupta, India economist at Goldman Sachs.A current account deficit occurs when a country's imports exceed its exports.In a market environment that is not conducive for emerging market portfolio inflows, ""we estimate a large balance of payments deficit. This has meant continued FX reserves drawdown across spot and forward books held by the RBI,"" he added.With global capital flows drying up in a Fed tightening cycle, US recession risks coming to the fore, and India's external balances becoming challenging, we are likely to see continued weakness in the INR going forward.Santanu SenguptaIndia economist, Goldman SachsAccording to Nomura's recent note, Indian equities have already experienced $28.9 billion of net foreign outflows year-to-date in July, the second most among Asian economies, excluding Japan. But India's large external buffers have ""have provided confidence in RBI's ability to prevent tail risk scenarios from spilling over to domestic interest rates and impacting growth further when it is already going through a rough patch due to higher commodity prices and supply disruptions, along with tighter monetary policy,"" said Sinha.""Our projection of balance of payment deficit indicates a shortfall of USD 30-50bn this year. RBI has adequate reserves to sustain intervention for at least another year,"" he added.In an attempt to defend the rupee, the central bank announced a slew of measures recently aimed at encouraging capital inflows. The measures include easing regulations on foreign deposits, relaxing norms for foreign investment flows into the debt market and for external commercial borrowing.'Taper tantrum'Despite the rupee's current underperformance, the currency's fall is still more contained today compared to the ""taper tantrum"" in 2013, analysts said, citing better fundamentals this time round.At that time, the Federal Reserve's decision to scale back its extraordinary monetary stimulus triggered a sell-off in bonds, which caused Treasury yields to surge and the U.S. dollar to strengthen. That led to an exodus of funds out of emerging markets.""Much of [the Indian rupee's] depreciation pressure stems from sharp gains in the US dollar as the latter benefits from wide rate and policy differentials,"" said DBS's Rao in a recent note, explaining the high interest rate difference between the greenback and rupee as interest rates in the U.S. continue to rise.The pressure to defend the rupee's depreciation is not as high as back during the taper tantrum, she added. If pressures do intensify, the government has options such as deferring purchases of bulky defense items that would help to reduce the dollar demand, she wrote.Analysts also argued India's external balances, which is often cited as a source of vulnerability, has some inbuilt buffer against further rupee depreciation risks.""Until now, even in the face of deteriorating external balances, the stock of FX reserves were limiting India's external sector vulnerability, and have allowed for a slow depreciation of the INR (vs. the USD),"" said Sengupta from Goldman Sachs.""Going forward, as FX reserves get depleted, and real rate differentials shrink, India's external vulnerability risks will increase — though they will likely compare better than the 'taper tantrum.'""Can rupee drop to 82 per dollar?As global conditions continue to remain in flux, the rupee will face further downside risks in the coming months, analysts said.""With global capital flows drying up in a Fed tightening cycle, US recession risks coming to the fore, and India's external balances becoming challenging, we are likely to see continued weakness in the INR going forward,"" said Goldman Sachs' Sengupta.As a result, the bank forecasts the Indian currency could be around 80-81 rupees per dollar over the next 3 to 6 months, ""with risks tilted towards even further weakness in the event of more acute dollar strength,"" he added.Other analysts even expect the rupee to test fresh new lows in the near term.Stock picks and investing trends from CNBC Pro:Craig Chan, Nomura's head of global FX strategy, said he does not believe the level ""80 is sacrosanct.""""We do not believe there is any particular market positioning factor that should lead to an accelerated move higher in USD/INR if 80 breaks – unlike in 2013,"" he added, referring to the ""taper tantrum"" period. ""Our last call was INR [rupee] risks breaking the 80 to dollar level and overshoots to 82 by the end of August.""Sinha from BofA Securities also expects the Indian currency to reach the 82 level by end-2022 due to continued volatility in the global environment.""However, we see tails risks of larger depreciation contained by RBI's ample reserves buffer,"" he said.",India’s currency is under pressure — and analysts say the rupee could test new lows.
"A woman watches a TV broadcasting a news report on North Korea's launch of three missiles including one thought to be an intercontinental ballistic missile (ICBM), in Seoul, South Korea, May 25, 2022. REUTERS/Kim Hong-Ji Register now for FREE unlimited access to Reuters.comSEOUL, Aug 4 (Reuters) - North Korea warned it will ""never tolerate"" the United States' criticism of the isolated country's nuclear programme, calling Washington the ""kingpin of nuclear proliferation"" and saying it would not allow any encroachment of its sovereign rights.North Korea has conducted missile tests at an unprecedented pace this year and international experts believe it is readying its seventh nuclear test, the first since 2017.The North's permanent mission to the United Nations issued the statement on Wednesday as diplomats gathered in New York for a month-long U.N. conference to review the Treaty on the Non-Proliferation of Nuclear Weapons (NPT). read more Register now for FREE unlimited access to Reuters.comU.S. Secretary of State Antony Blinken said during the meeting the North ""continues to expand its unlawful nuclear programme"" and ""is preparing to conduct its seventh nuclear test.""""It is the peak of busy blaming that the United States alleges somebody's 'nuclear threats' given the fact that it is the kingpin of nuclear proliferation,"" North Korea said in the statement.The North also said it pulled out of the non-proliferation treaty a long time ago, so nobody had the right to impinge on the country's right to self-defence.""We will never tolerate any attempt by the U.S. and its servile forces to groundlessly accuse our State and encroach upon our sovereign rights and national interests,"" the North said in its statement.Last week, North Korean leader Kim Jong Un said his country was ready to mobilise its nuclear war deterrent and counter any U.S. military clash. read more Register now for FREE unlimited access to Reuters.comReporting by Soo-hyang Choi; Editing by Lincoln Feast.Our Standards: The Thomson Reuters Trust Principles.",North Korea says will 'never tolerate' U.S. accusation of its nuclear programme.
"FILE PHOTO - A PetroChina worker inspects a pump jack at an oil field in Tacheng, Xinjiang Uighur Autonomous Region, China June 27, 2018. REUTERS/Stringer ATRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Oil prices rose on Thursday as supply concerns triggered a rebound from multi-month lows plumbed in the previous session after U.S. data signalled weak fuel demand.Brent crude futures rose 42 cents, or 0.4%, at $97.20 a barrel by 0250 GMT, while West Texas Intermediate (WTI) crude futures was last up 49 cents, a 0.5% gain, at $91.15.Both benchmarks fell to their weakest levels since February in the previous session after U.S. data showed crude and gasoline stockpiles unexpectedly surged last week and as OPEC+ agreed to raise its oil output target by 100,000 barrels per day (bpd), equal to about 0.1% of global oil demand. read more Register now for FREE unlimited access to Reuters.comThe Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, have been previously increasing production but have struggled to meet targets as most members have already exhausted their output potential.""OPEC+ agreed to increase production by 100,000 barrels per day in September, far lower than previous months' production. The global energy market still faces supply shortages,"" said Leon Li, an analyst at CMC Markets.He added that WTI oil prices are ""likely to oscillate"" between $90 and $100 a barrel.While the United States has asked the group to boost output, spare capacity is limited and Saudi Arabia may be reluctant to beef up production at the expense of Russia, hit by sanctions over the Ukraine invasion that Moscow calls ""a special operation"".Ahead of the meeting, OPEC+ had trimmed its forecast for the oil market surplus this year by 200,000 barrels per day (bpd) to 800,000 bpd, three delegates told Reuters.""It looks like OPEC+ is resisting calls to boost output because the crude demand outlook continues to get slashed. The world is battling the ongoing global energy crisis and it won't be getting any help from OPEC+,"" Edward Moya, senior analyst with OANDA, said in a note.""The oil market will remain tight over the short term and that means we should still have limited downside here. Crude prices should find strong support around the $90 level and eventually will rebound towards the $100 barrel level even as the global economic slowdown accelerates.""Oil's demand outlook has been clouded by rising fears of an economic slump in the United States and Europe, debt distress in emerging market economies, and a strict zero COVID-19 policy in China, the world's largest oil importer.U.S. crude oil inventories had also rose unexpectedly last week as exports fell and refiners lowered runs, while gasoline stocks also posted a surprise build as demand slowed, the Energy Information Administration said. read more Supporting prices on Thursday, however, the Caspian Pipeline Consortium (CPC), which connects Kazakh oil fields with the Russian Black Sea port of Novorossiisk, said that supplies were significantly down, without providing figures. read more Register now for FREE unlimited access to Reuters.comReporting by Laura Sanicola and Emily Chow; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.Laura SanicolaThomson ReutersReports on oil and energy, including refineries, markets and renewable fuels. Previously worked at Euromoney Institutional Investor and CNN.",Oil prices rebound on supply concerns after drop to near 6-month low.
"U.S. Navy aircraft carrier USS Ronald Reagan is seen during its visit to Hong Kong, China November 21, 2018. REUTERS/Yuyang Wang/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 4 (Reuters) - The U.S. Navy on Thursday said the USS Ronald Reagan aircraft carrier was conducting scheduled operations in the Philippine Sea in the Western Pacific, a 5.7 million square kilometre (2.2 million square mile) stretch of ocean that includes waters southeast of Taiwan.""USS Ronald Reagan and her strike group are underway in the Philippine Sea continuing normal, scheduled operations as part of her routine patrol in support of a free and open Indo-Pacific,"" a U.S. Navy Seventh Fleet spokesperson said.Home-ported at Yokosuka naval base in Japan, the Reagan is the U.S. Navy's only forward deployed carrier.Register now for FREE unlimited access to Reuters.comReporting by Tim Kelly
Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.",U.S. Navy say carrier USS Ronald Reagan conducting operations in Philippine Sea.
"The Toyota emblem is seen on the tyre rim of a vehicle during the media day of the 41st Bangkok International Motor Show after the Thai government eased measures to prevent the spread of the coronavirus disease (COVID-19) in Bangkok, Thailand July 14, 2020. REUTERS/Jorge SilvaRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 4 (Reuters) - Toyota Motor Corp (7203.T) posted a worse-than-expected 42% hit to quarterly operating profit on Thursday as the Japanese automaker was squeezed by both supply constraints and rising costs.Operating profit for the three months ended June 30 sank to 578.66 billion yen ($4.3 billion) from 997.4 billion yen in the same period a year earlier, capping some difficult months for Toyota. It has repeatedly cut monthly production targets due to the global chip shortage and COVID-19 curbs on plants in China.But the size of the earnings decline was far beyond what investors had expected - analysts polled by Refinitiv had estimated a 15% drop - and appeared to catch the market by surprise: Toyota's shares extended losses and were down as much as 3% after the results.Register now for FREE unlimited access to Reuters.comDespite the grim quarter, the automaker stuck to both its forecast for full-year operating profit and its plan to produce 9.7 million vehicles this year.Profit in the fiscal first quarter was hit by constraints in supply, lower sales and a rise in materials costs, a Toyota spokesperson said.Like other auto manufacturers, Toyota is grappling with higher costs and fears that global inflation could put the brakes on consumer demand.But Toyota's current production woes mark a departure from its initial success in navigating supply chain problems in the early stages of the pandemic.The carmaker cut its monthly production targets three times during the April-June quarter, falling 10% behind its initial goals, due to shortages of semiconductors and the impact of COVID-19 lockdowns in China. read more Toyota shares, which were down 0.5% just before the release of the earnings, extended losses immediately after and were down 2.3% at 2,106 yen by 0450 GMT.($1 = 133.7200 yen)Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama; Editing by Kenneth Maxwell and David DolanOur Standards: The Thomson Reuters Trust Principles.","Toyota Q1 profit tumbles, hit by double-whammy of supply constraints and costs."
"Broken Ethernet cable is seen in front of binary code and words ""cyber attack"" in this illustration taken March 8, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 4 (Reuters) - Taiwan's government urged the island's companies on Thursday to enhance their cybersecurity in the coming days as authorities were seeing a record number of attacks on their websites amid escalating tensions with China.Register now for FREE unlimited access to Reuters.comReporting By Yimou Lee; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",Taiwan urges its firms to boost cybersecurity as attacks jump amid China tensions.
"Soldiers exit from AAV7 amphibious assault vehicle run to position during an Amphibious landing drill as part of the Han Kuang military exercise in Pingtung, Taiwan, July 28, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 4 (Reuters) - Taiwan's defence ministry said on Thursday its military will continue to reinforce its alertness level and will react appropriately to the ""enemy situation"".China is carrying out targeted military drills in zones around Taiwan for several days this week in response to the visit of U.S. House Speaker Nancy Pelosi.Taiwan's military is closely monitoring the ""enemy situation"" in the Taiwan Strait and near Taiwan's outlying islands and all of its troops are carrying out daily training as usual, the Taiwan defence ministry statement added.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee; Writing by Martin Quin Pollard; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",Taiwan defence ministry: Military will react appropriately to 'enemy situation'.
"DBS signages are seen as office workers work in Singapore Oct 8 2019. Picture taken Oct 8 2019. REUTERS/Feline Lim/File PhotoRegister now for FREE unlimited access to Reuters.comSINGAPORE, Aug 4 (Reuters) - Singapore's DBS Group (DBSM.SI) reported a 7% rise in quarterly net profit that came in slightly above market estimates and gave a robust outlook as Southeast Asia's largest lender gains from sharply higher interest rates.Singapore banks are also benefiting from a rebound in economic activity in the Asian financial hub after the government relaxed most of its COVID-19 restrictions in April.DBS shares were down 1.7% in early trade on Thursday while the broader market (.STI) was marginally higher.Register now for FREE unlimited access to Reuters.comDBS reported its net profit for April-June increased to S$1.82 billion ($1.30 billion) from S$1.7 billion a year earlier, compared with an average estimate of S$1.69 billion from five analysts compiled by Refinitiv.""Net interest margin rose for the first time in three years and accelerated in the second quarter, while business momentum and asset quality were sustained,"" DBS CEO Piyush Gupta said in the results statement on Thursday.""Our ongoing stress tests indicate that asset quality continues to be robust,"" he said.The results from DBS rounded up a strong reporting season for Singapore banks after local peers OCBC (OCBC.SI) beat estimates and United Overseas Bank (UOBH.SI) flagged further improvement in net interest margins.Singapore lenders were expected to report 10 basis points net interest margin expansion in April-June on a quarter-to-quarter basis, the highest over the last eight quarters, outperforming Asian peers, JPMorgan analysts said last month.DBS' net interest margin increased to 1.58% in the quarter from 1.45% a year earlier and it said the key profitability gauge topped 1.8% in July.The bank maintained its full-year loan growth forecast at mid-single digit percent.Net fee income fell 12% in the second quarter due to lower contributions from wealth management and investment banking that more than offset increases in other fee activities.($1 = 1.3801 Singapore dollars)Register now for FREE unlimited access to Reuters.comReporting by Anshuman Daga; Editing by Sam Holmes and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",DBS Q2 profit tops estimates as banks benefit from rising interest rates.
"Pump jacks operate at sunset in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford/File Photo/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - U.S. oil producer APA Corp (APA.O) reported a second-quarter profit that nearly tripled on Wednesday, bolstered by surging crude prices.Houston, Texas based APA is the latest oil and gas producer to post sharply higher profits, benefiting from surging oil prices after demand rebounded to pre-pandemic levels and sanctions on major energy producer Russia dented global supply.APA also said it had purchased properties in the Texas Delaware portion of the Permian basin during the quarter for $505 million from an undisclosed buyer.Register now for FREE unlimited access to Reuters.comReuters reported earlier on Wednesday that APA was buying assets in Texas from privately owned Titus Oil & Gas. read more APA, the holding company for Apache Corp, reported quarterly production of 385,000 barrels of oil equivalent per day (boepd), slightly below the 395,000 boepd it produced a year ago.The company's net income attributable to common stock rose to $926 million, or $2.71 a share, in the three months ended June 30, from $316 million, or 82 cents per share, a year earlier.Register now for FREE unlimited access to Reuters.comReporting by Ruhi Soni in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.",Oil producer APA's second-quarter profit nearly triples.
"A map showing locations where Chinese People's Liberation Army (PLA) will conduct military exercises and training activities including live-fire drills is seen on newspaper reports of U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan, at a newsstand in Beijing, China August 3, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 4 (Reuters) - China's People's Liberation Army has begun military exercises including live firing on the waters and in the airspace surrounding the island of Taiwan, Chinese state television reported on Thursday.The exercises are to end at 12:00 p.m. (0400 GMT) on Sunday, according to the state television report.Register now for FREE unlimited access to Reuters.comReporting by Ryan Woo; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",Chinese military begins drills around Taiwan - state media.
"If the U.S. economy is in recession, someone forgot to tell the jobs market.The employment picture over the past six months is behaving nothing like an economy in a downturn, instead creating jobs at a rapid pace of nearly 460,000 a month.Research from CNBC's Steve Liesman indicates that during a typical downturn, the employment picture would be far gloomier, losing ground instead of gaining. Several charts presented during Wednesday's ""Squawk Box"" help paint the picture.The CNBC team looked at economic data going back to 1947. It indicated that when gross domestic product has been negative for six months, as is the case for 2022, payrolls fall by an average of 0.5 percentage point. But this year, the job count actually has increased by 1%.Data from human relations software company UKG backs up that notion, with internal data that shows jobs have been created about in line with the Bureau of Labor Statistics' count.Finally, the Dallas Federal Reserve, in research posted Tuesday, said its analysis of multiple data points found ""that most indicators — particularly those measuring labor markets — provide strong evidence that the U.S. economy did not fall into a recession in the first quarter"" of the year.One data point the central bank's researchers looked at was real personal consumption expenditures. They found that consumption generally declined during recessions. By contrast, the measure increased during the first half of 2022.Even with the other evidence suggesting otherwise, many commentators have focused on the traditional definition of recession as being two straight quarters of negative GDP growth. The first quarter declined 1.6%, and the second quarter fell 0.9%, meeting that standard.Another anomalous factor about the current state is that even though GDP fell in real inflation-adjusted terms, the economy on a nominal basis grew strongly during the second quarter. Nominal GDP rose 7.8% during the period but was outweighed by an 8.6% quarterly inflation rate.By contrast, during the last recession, in 2020, nominal GDP contracted 3.9% in the first quarter and 32.4% in the second quarter, while real GDP fell 5.1% and 31.2%, respectively.St. Louis Fed President James Bullard told CNBC, also during ""Squawk Box,"" that he doesn't think the economy is in a recession, though he was more dismayed by the second-quarter decline.""The first-quarter slowdown, I think, ... was probably a fluke, but the second quarter was more concerning,"" he said. Even if some rate-sensitive pockets of the economy slow, ""that doesn't by itself mean you're in recession just because you see some negative signs in some parts of the economy.""The latest data on the jobs picture comes out Friday, when the BLS is expected to report a payrolls gain of about 258,000 for July, according to Dow Jones estimates. BLS data earlier this week showed that the gap between job openings and available workers is still vast but edging lower.",These charts show why we may not be in a recession.
"LONDON — European stocks are expected to open higher on Thursday, building on gains made in the previous session.The U.K.'s FTSE index is seen 7 points higher at 7,411, Germany's DAX is expected to open 52 points higher at 13,634, France's CAC 40 up 8 points at 6,481 and Italy's FTSE MIB 38 points higher at 22,601, according to data from IG.The positive open for European stocks comes after gains on Wednesday on the back of strong U.S. economic data that tamed investor fears of a looming recession. The ISM non-manufacturing purchasing managers index showed a surprise rebound in July also prompting U.S. stocks to climb.There's a tepid start expected for the U.K.'s FTSE on Thursday with the market jittery ahead of the Bank of England's next monetary policy decision. The central bank is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995.Stock picks and investing trends from CNBC Pro:Elsewhere overnight, Asia-Pacific shares traded higher on Thursday following the rally on Wall Street yesterday and as investors move on from the tensions over U.S. House Speaker Nancy Pelosi's controversial visit to Taiwan.Meanwhile, U.S. stock futures inched downward Wednesday evening despite the major averages snapping a two-day slide earlier in the trading session.There are no major European data releases Thursday but earnings are expected from Credit Agricole, Adidas, Bayer, Lufthansa, Merck, Zalando, Rolls-Royce, Next, Glencore and Adecco Group.",European markets head for higher open; big Bank of England hike expected.
"A trader counts U.S. dollar banknotes at a currency exchange booth in Peshawar, Pakistan September 15, 2021. REUTERS/Fayaz Aziz/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryhttps://tmsnrt.rs/3bpQncGBENGALURU, Aug 4 (Reuters) - The dollar's strength has yet to peak, according to a majority of currency strategists polled by Reuters who were however divided on when the currency's advance would come to an end.The greenback slipped from a decade high in mid-July but quickly snapped back when three Fed officials made it clear the central bank was ""completely united"" on increasing rates to a level that would put a dent in the highest U.S. inflation since the 1980s. read more With the Fed expected to stay ahead of its peers in the tightening cycle by some measure, and the global economy expected to slow significantly, a path for the dollar to weaken meaningfully or for most other currencies to stage a comeback is difficult to forge.Register now for FREE unlimited access to Reuters.comIn the Aug. 1-3 poll, a strong majority of more than 70% of strategists, or 40 of 56, who answered an additional question said the dollar's strength hasn't yet peaked.Asked when it would peak, 14 said within three months, 19 said within six months, another six said within a year and one said within two years. Only 16 said it already had.""For the USD to weaken, the Fed has to be more concerned about growth than about inflation, and we are not there yet,"" said Michalis Rousakis, G10 FX strategist at Bank of America Securities.Reuters Poll - U.S. dollar outlookThe dollar - already up around 11% in 2022 - was expected to give up some of its gains over the coming 12 months. But few of the major currencies were forecast to regain all of their year-to-date losses over that period.""In the very long run, let's say two or three or four years from now, the dollar will probably be considerably weaker. But in the 12-month timeframe we're looking at relatively small moves,"" said Brian Rose, senior economist at UBS Global Wealth Management.DETERIORATING OUTLOOKThe euro touched parity with the dollar last month, hitting a near two-decade low, and is down more than 10% in 2022. It was forecast to gain over 6% from current levels by next July and was expected to trade around $1.02, $1.05 and $1.08 in the next three, six and 12 months respectively.Those median forecasts, the lowest in a Reuters FX poll since 2017, showed a deteriorating outlook for the common currency.While only a handful of analysts expected the euro to trade at or below parity versus the dollar over the forecast horizon in a July poll, about one-third of the over 60 strategists now forecast it to revisit those levels in the next three months.""In the short term we're looking for the dollar to maintain its strength, especially against the euro. So we think there's a chance the euro will drop below parity,"" Rose said.Despite its recent rally when U.S. Treasury yields tumbled, the safe-haven Japanese yen is down about 14% for the year, making it the biggest loser among its major peers.The carry trade currency was expected to claw back some of those losses and gain about 5% to trade around 127 per dollar in a year.""I think the most relevant question with respect to the dollar is if you're going to sell the dollar, what else do you buy ... you're not going to buy shed loads of yen relative to the U.S. dollar when you're getting much higher yield in dollars,"" said Jane Foley, head of FX strategy at Rabobank.The yield advantage which dollar assets carry was also likely to hurt emerging market currencies, offering no respite to an already battered bunch.While China's tightly-controlled yuan and the Korean won were predicted to be range-bound over the next three to six months, the Indian rupee , South African rand , Russian rouble and Turkey's lira were expected to fall.Phoenix Kalen, head of emerging markets research at Societe Generale, gave a laundry list of worries for those currencies.""For EM FX, we are less heartened by the pull-back in the market's pricing of FOMC rate hikes, and more focused on the underlying context of deteriorating global growth, tightening financial conditions, worsening geopolitics, continuing EM portfolio outflows, still-elevated inflation, and the potential for downside China surprises,"" Kalen said.(For other stories from the August Reuters foreign exchange poll:)Register now for FREE unlimited access to Reuters.comReporting by Hari Kishan; Additional Reporting by Vuyani Ndaba and Vivek Mishra; Polling by Aditi Verma and Susobhan Sarkar; Editing by Ross Finley and David HolmesOur Standards: The Thomson Reuters Trust Principles.",POLL FX markets haven't seen last of dollar strength yet - analysts.
"A man stands in front of a screen showing a CCTV news broadcast, featuring a map of locations around Taiwan where Chinese People's Liberation Army (PLA) will conduct military exercises and training activities including live-fire drills, at a shopping center in Beijing, China, August 3, 2022. REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 4 (Reuters) - Taiwan's ruling party said on Thursday that Chinese military drills have triggered regional tensions and are illegitimate.China is conducting drills on the busiest international waterways and aviation routes and that is irresponsible unilateral behaviour, the ruling Democratic Progressive Party (DPP) said.China announced targeted military drills in zones surrounding Taiwan lasting several days following the arrival of U.S. House Speaker Nancy Pelosi in Taipei on Tuesday.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Writing by Martin Quin Pollard; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",Taiwan's ruling party slams Chinese military drills.
"An employee works on a computer terminal against the backdrop of a picture of late Apple co-founder Steve Jobs at the Start-up Village in Kinfra High Tech Park in the southern Indian city of Kochi October 13, 2012. Three decades after Infosys, India's second-largest software service provider, was founded by middle-class engineers, the country has failed to create an enabling environment for first-generation entrepreneurs. Startup Village wants to break the logjam by helping engineers develop 1,000 Internet and mobile companies in the next 10 years. It provides its members with office space, guidance and a chance to hobnob with the stars of the tech industry. But critics say this may not even be the beginning of a game-changer unless India deals with a host of other impediments - from red tape to a lack of innovation and a dearth of investors - that are blocking entrepreneurship in Asia's third-largest economy. To match Feature INDIA-TECHVILLAGE/ Picture taken October 13, 2012. REUTERS/Sivaram VRegister now for FREE unlimited access to Reuters.comMUMBAI, Aug 4 (Reuters Breakingviews) - India’s war on foreign technology giants is misunderstood. It is, at best, a messy effort to prevent vulnerabilities emerging from its large and growing technology sector. Official heavy-handedness to address those potential problems could end up having the opposite effect, however.In recent months, New Delhi has raided offices of Chinese smartphone makers Xiaomi (1810.HK) and Vivo, and banned popular mobile games including Free Fire by Singapore’s Sea (SE.N) and Battlegrounds Mobile India (BGMI) by South Korea’s Krafton (259960.KS). At the same time, officials are nudging U.S. firms including Amazon.com (AMZN.O) to integrate their platforms into a single open and shared network for e-commerce. Social media giants Twitter (TWTR.N) and Meta’s WhatsApp are also taking New Delhi to court as operating rules get tougher. The latter boasts 530 million users in India, the most of any country.Some of the hostility is real. When it comes to social media, the political ramifications of unfiltered online content mean that companies may have little option but to do things New Delhi’s way.Register now for FREE unlimited access to Reuters.comOther hurdles are China-specific. India is keeping a close tab on investment from the People’s Republic since a deadly Himalayan border clash in 2020. Data is a top sensitivity. India has banned over 300 apps, mostly Chinese, and some games from companies like Sea and Krafton backed by China’s Tencent (0700.HK) on national security grounds. Like online content regulation, cybersecurity is a growing concern for governments worldwide. Beijing, for instance, has tightened rules on foreign-listed Chinese companies housing troves of user data.On the face of it, New Delhi’s crackdown on smartphone makers also looks motivated by tensions with its neighbour. Chinese manufacturers are dominant, accounting for three quarters of India’s 168 million shipments in 2021, per Counterpoint Research. But the dispute is messier: New Delhi alleges the companies are illegally moving money offshore on pretext of royalty fees, among other things; on Wednesday a government agency accused Vivo of evading $280 million of taxes. It’s a common complaint against foreign companies, and suggests the issue goes beyond geopolitics.All this muddies the message that India is open for business, threatening annual foreign direct investment which hit a record high of $84 billion in the year to March. Xiaomi and Vivo, for example, have made large investments to answer Prime Minister Narendra’s Modi’s call to make, or at least assemble goods, in India. The market may be growing at a double digit pace, but Chinese manufacturers could still walk away; Xiaomi’s Indian unit reported a net profit margin of less than 1% in the year to March 2021. An exit will hurt consumers used to highly-competitive entry level handsets and leaves South Korea’s Samsung Electronics (005930.KS) as the main beneficiary. Local rivals lack scale.In e-commerce, New Delhi wants Big Tech to back a new digital infrastructure inspired by its wildly successful interoperable payments system. It’s still early days for the so-called Open Network for Digital Commerce, which is in talks to onboard over 200 companies and is being piloted in 30 cities. Over time, the idea is to integrate all e-commerce services. Imagine if WhatsApp or Google Maps could facilitate any web transaction or if mom and pop stores could make themselves visible to users of multiple unrelated apps like Instagram or Uber.It’s an ambitious project. Success would give foreign companies access to a much bigger market by growing overall e-commerce penetration up from single digits, albeit at the expense of profitability as users will be able to compare prices of different service providers. Tearing down digital payment walls in India with the help of Google Pay and Walmart’s (WMT.N) PhonePe, for instance, enabled an annual $1 trillion worth of transactions.The quick retreat of foreign firms from Russia highlighted the problems of being dependent on one or two companies. In that way, India’s attempt to establish checks and controls over its internet infrastructure looks timely and potentially offers solutions for others to follow. But with so much upheaval at once, there’s a danger that officials will chase away the companies it needs far too soon.Follow @ugalani on TwitterCONTEXT NEWSAn Indian government agency has accused Chinese-owned Vivo Mobile of evading taxes worth 22.1 billion rupees ($280 million), Reuters reported on Aug. 3 citing a statement.Vivo India did not immediately respond to a Reuters request for comment. The tax evasion allegation is India's second this week against a Chinese phone-maker.The author is a Reuters Breakingviews columnist. The opinions expressed are her own.Register now for FREE unlimited access to Reuters.comEditing by Robyn Mak and Thomas ShumOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",India’s war on foreign tech risks misfiring.
"U.S. House of Representatives Speaker Nancy Pelosi speaks at a meeting with Taiwan President Tsai Ing-wen (not pictured) at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi plans to visit an inter-Korean border area that is jointly controlled by American-led U.N. Command and North Korea later on Thursday, Associated Press reported, citing a South Korean official.If that visit occurs, Pelosi would be the highest-level American to go to the Joint Security Area since then-President Donald Trump went there in 2019 for a meeting with North Korean leader Kim Jong Un, the report added.Earlier in the day, Pelosi will meet South Korean National Assembly Speaker Kim Jin Pyo and other senior members of Parliament for talks on regional security, economic cooperation and climate issues, AP said.Register now for FREE unlimited access to Reuters.comReporting by Juby Babu in Bengaluru; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",Pelosi to visit inter-Korean border area - AP.
"U.S. basketball player Brittney Griner, who was detained at Moscow's Sheremetyevo airport and later charged with illegal possession of cannabis, is escorted before a court hearing in Khimki outside Moscow, Russia August 2, 2022. Natalia Kolesnikova/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comSummaryGriner faces 10 years in prisonCase comes amid fraught Russia-U.S. relationsU.S. has made Russia a swap offerLawyer says swap legally possible after verdictThis content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.KHIMKI, Russia, Aug 4 (Reuters) - U.S. basketball star Brittney Griner returns to a Russian court on Thursday as her drugs trial grinds towards a finale that could end with a 10-year prison sentenceand a U.S.-Russia prisoner swap for one of the world's most notorious arms dealers.Griner, a two-time Olympic gold medallist and a Women's National Basketball Association (WNBA) star, was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing hashish oil in her luggage.Cannabis is illegal in Russia for both medicinal and recreational purposes.Register now for FREE unlimited access to Reuters.comThe cartridges threw the 31-year-old Texan athlete into the geopolitical maelstrom triggered when President Vladimir Putin sent troops into Ukraine on Feb. 24.During the most strained U.S.-Russian relations since the 1962 Cuban missile crisis, U.S. President Joe Biden is under pressure to intervene on behalf of detained Americans - including Griner.The United States has said Griner was wrongfully detained and made what Secretary of State Antony Blinken called a ""substantial offer"" to Moscow to exchange Russian prisoners for American citizens held in Russia, including Griner and former Marine Paul Whelan.One source familiar with the situation said that Washington was willing to exchange convicted arms trafficker Viktor Bout, whose life helped inspire the 2005 Hollywood film ""Lord of War"", starring Nicholas Cage.Russian officials have said a deal has not been reached. They argue that Griner violated the country's laws and should be judged accordingly.The Kremlin has also repeatedly warned Washington against resorting to megaphone diplomacy, or negotiations conducted through press releases.They say this strategy could derail the swap.Griner's lawyer said on Tuesday that the trial should end very soon and that once the court renders a verdict, a swap between Russia and the United States would become legally possible.Griner, who pleaded guilty but denied intending to break Russian laws, has shown little emotion in court. Her lawyer said on Tuesday that Griner was both nervous and focused as the trial neared its end.Wearing round-rimmed glasses and athletic clothing at every hearing, Griner listened to the proceedings via a translator and spoke quietly to her lawyers through the bars of the defendant's cage at the Khimki District Court outside Moscow.Before taking a seat, Griner held up personal photographs, including many of her wife Cherelle, whom Biden called last month to assure that Washington was working to secure Griner's release.Griner had flown to Russia to join her team, UMMC Ekaterinburg, for the playoffs after spending time at home in the United States. Griner played in the Russian Women's Basketball Premier League during the WNBA offseason.In her testimony last week, Griner expressed puzzlement as to how the vape cartridges had ended up in her luggage.""I still don't understand to this day how they ended up in my bag,"" she told the court on July 27. ""If I had to guess on how they ended up in my bags, I was in a rush packing.""Griner had been prescribed medical marijuana in the United States for chronic injury pain, a treatment method that is common among elite athletes because it has fewer side effects than some painkillers.(The story corrects spelling of Griner's name in paragraph 13)Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy Faulconbridge and Josie KaoOur Standards: The Thomson Reuters Trust Principles.",Basketball star Brittney Griner awaits fate in Russia drugs trial.
"A woman takes a test for the coronavirus disease (COVID-19) at a testing centre in Sydney, Australia, January 5, 2022. REUTERS/Jaimi JoyRegister now for FREE unlimited access to Reuters.comSYDNEY, Aug 4 (Reuters) - Australia's COVID-19 winter outbreak fuelled by the new Omicron sub-variants BA.4/5 may have peaked early, Health Minister Mark Butler said on Thursday, as hospitals reported a steady fall in admissions over the past week.Australia is battling one of its worst flare-ups of the coronavirus driven by the fast-moving new Omicron sub-variants, putting severe strain on hospitals and retirement homes. But Health Minister Mark Butler flagged the worst could be over.""That is what I'm hearing but we're not calling it yet,"" Butler told Nine News. ""We are quietly hoping that we have reached the peak earlier than we expected to.""Register now for FREE unlimited access to Reuters.comHealth officials predicted the latest wave could peak only later this month, with some states expecting the spike in infection rates and hospital admissions to ease by late August.""It does seem clear cases are starting to peak and maybe drop off in some states and very pleasingly, hospital numbers have dropped off,"" Butler said.Hospital admissions from COVID-19 hovered near the 5,000 level on Thursday but have fallen from the record 5,571 reached a week ago, official data showed.Butler said influenza infections had passed their peak, relieving pressure on the health system.Australia has endured a tough winter with COVID-19 and the flu virus circulating. Many frontline workers in hospitals are also sick or in isolation, worsening the healthcare crisis.Data also showed a lag in people taking booster shots, with only about 71% getting their third dose versus 96% who have had two doses, raising concerns of a surge in hospital cases.The government said on Wednesday it would offer from September Moderna's (MRNA.O) coronavirus vaccine for children aged 6 months to below 5 years who are at higher risk of developing severe illness.Australia has reported just over 9.5 million cases and 12,072 deaths since the pandemic began, far lower than many countries helped by world-beating vaccination numbers and strict restrictions earlier in the pandemic.Register now for FREE unlimited access to Reuters.comReporting by Renju Jose; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Australia's winter COVID wave may have peaked early, health minister says."
"A 3D printed natural gas pipeline is placed in front of displayed Gazprom logo and Russian flag in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Gazprom (GAZP.MM) will receive 50% of a new Russian entity replacing the Sakhalin Energy liquefied natural gas (LNG) project, Russian news agencies reported on Wednesday, citing a government decree.Interfax said the new entity will be registered in the city of Yuzhno-Sakhalinsk on the Russian Pacific island of Sakhalin. The Sakhalin-2 LNG plant is located 60 km (37 miles) south of Yuzhno-Sakhalinsk.Japanese trading houses Mitsui & Co (8031.T) and Mitsubishi Corp (8058.T) on Tuesday cut the value of their stakes in the Sakhalin-2 LNG project by 217.7 billion yen ($1.62 billion) after Moscow's move to seize control of it. read more Register now for FREE unlimited access to Reuters.comWestern countries and their allies, including Japan, imposed tough sanctions on Russia after it sent troops into Ukraine in late February. Moscow retaliated by putting obstacles on western businesses and investors leaving Russia, including in some rare cases by seizing assets.Interfax reported that Gazprom will get just over a 50% stake and the remaining 49.99% will be held by the new company itself until after existing Sakhalin-2 shareholders apply for a stake which they should do within a month.If foreign shareholders, which also include Royal Dutch Shell with a 27.5% stake, do not apply for a share in the new entity, it will be evaluated and sold by the government to a Russian entity, Interfax said, citing an Aug. 2 decree.After the reports, Japan's government reiterated its intention to have the Japanese companies retain their stakes in the project.""The Sakhalin-2 project is extremely important for stable energy supply to Japan, and we will basically continue to maintain the stakes,"" Japanese industry minister Koichi Hagiuda told reporters on Thursday. The government is looking into details of the new entity, he said.Mitsui and Mitsubishi, which hold a combined 22.5% stake in the project, said separately that they are examining details of the new entity, and they plan to respond by cooperating with the Japanese government and with each other.The Japanese government has said it planned to support the trading companies in their attempts to stay in the Sakhalin-2 project. Japan imports about 10% of its LNG from Russia, mainly from Sakhalin-2. read more ($1 = 134.0900 yen)Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by David Goodman, Alexander Smith and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Russia's Gazprom to get 50% of Sakhalin-2 LNG project replacement entity -reports.
"A man walks under an electronic screen showing Japan's Nikkei share price index inside a conference hall in Tokyo, Japan June 14, 2022. REUTERS/Issei KatoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 4 (Reuters) - Asian stocks rose on Thursday, taking cues from a strong rally on Wall Street after robust economic data and upbeat corporate guidance boosted investor appetite.The dollar hovered near its highest this week after Federal Reserve officials continued to stress that policy tightening is far from over. However, Treasury yields remained down from two-week highs as investors stayed sidelined ahead of employment data this week that will guide the path of interest rates.Crude oil prices stabilised after sliding to an almost six-month low overnight as U.S. data showed an unexpected surge in stockpiles. read more Register now for FREE unlimited access to Reuters.comJapan's Nikkei (.N225) rose 0.58%, while Chinese blue chips (.CSI300) added 0.55% and Hong Kong's Hang Seng (.HSI) jumped 1.24%, with an index of its tech stocks (.HSTECH) surging 2.29%.MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) gained 0.65%.U.S. S&P 500 futures were about flat, after the underlying index jumped 1.56% overnight and the tech-heavy Nasdaq (.NDX) surged 2.73% to a three-month peak.Strong financial results from PayPal lifted the mood, while data showed new orders for U.S.-manufactured goods increased solidly.Meanwhile, more Fed officials joined the chorus saying more tightening is necessary to rein in inflation.However, one - San Francisco Fed President Mary Daly - said in an interview with Reuters that a half point hike may be what's needed at the next meeting in September, rather than another 75 basis-point rise. read more Fed Chair Jerome Powell said last week the central bank may consider another ""unusually large"" rate hike at its Sept. 20-21 gathering.""The view that we have this pivot away from tightening (by the Fed) has been very heavily hammered over the last 48 hours by pretty much everyone and their dog, saying we are still going to be tightening rates pretty aggressively,"" said Rob Carnell, Asia-Pacific head of research at ING in Singapore.""That message hasn't properly percolated through to the equity market, which is looking at what has been a reasonably strong set of earnings numbers and some fairly decent economic data and going this is brilliant, instead of doing what they should be doing and saying this is quite concerning.""Traders now price 58.5% odds of a 50 basis point increase versus 41.5% probability for the bigger bump, which would see the most aggressive tightening path in more than a generation.Benchmark long-term U.S. Treasury yields held at around 2.71% in Tokyo trading on Thursday. They rose overnight to the highest since July 22 at 2.851% but then got knocked back to end lower following Daly's comments.The dollar index , which measures the greenback against six major counterparts, eased 0.11% to 106.36 on Thursday after rising as high as 106.82 in the previous session for the first time in a week.Against Japan's currency, which is extremely sensitive to U.S. yields, the buck retreated 0.24% to 133.51 yen , after reaching 134.55 overnight.The majority of analysts in a Reuters poll say the dollar has yet to peak. read more Crude oil rose in early Asian trade, bouncing off the previous day's multi-month lows following data that signalled weak U.S. fuel demand.Brent crude futures rose 53 cents to $97.31 a barrel while West Texas Intermediate (WTI) crude futures rose 55 cents to $91.21. Both benchmark fell to their weakest closing levels since February on Wednesday, at $96.50 and $90.66, respectively.Register now for FREE unlimited access to Reuters.comReporting by Kevin Buckland; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.","Asian stocks rise on upbeat data, Fed hawks lift dollar."
"Authorities are pictured at the premises of a coal mine which collapsed leaving miners trapped, in Sabinas, in Coahuila state, Mexico, August 3, 2022. REUTERS/Antonio Ojeda Register now for FREE unlimited access to Reuters.comMEXICO CITY, Aug 3 (Reuters) - Mexican authorities were working on Wednesday to rescue a group of miners trapped in a coal mine in the state of Coahuila after it collapsed, Coahuila State Secretary Fernando Donato de Las Fuentes said in an interview on national television.Donato said as many as 11 miners were trapped.The mine is located in the Sabinas municipality, and local media showed footage of family members asking for information about the miners outside the premises.Register now for FREE unlimited access to Reuters.comThe coal mine started operations in January and has not received any complaints, the Labor Ministry said in a statement.Mexican President Andres Manuel Lopez Obrador said earlier on Twitter that nine miners were ""likely"" trapped in the mine.""I hope we find them safe,"" Lopez Obrador said, adding that the collapse of the mine had caused a flood inside.One miner had managed to get out, Coahuila Governor Miguel Riquelme said.Some 92 soldiers arrived at the scene, as well as specialists and rescue dogs, the president said.Register now for FREE unlimited access to Reuters.comReporting by Carolina Pulice and Valentine Hilaire; Editing by Brendan O'Boyle and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",Up to 11 Mexican miners trapped in coal mine after collapse.
"A man watches a CCTV news broadcast, showing a fighter jet during joint military operations near Taiwan by the Chinese People's Liberation Army's (PLA) Eastern Theatre Command, at a shopping center in Beijing, China, August 3, 2022. REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comSummarySuspected drones fly over outlying Taiwanese islandsDefence ministry says its website attacked, briefly offlineChinese military exercises, involving live-fire, set to beginChina says it's an internal affairTAIPEI, Aug 4 (Reuters) - Suspected drones flew over outlying Taiwanese islands and hackers attacked its defence ministry website, authorities in Taipei said on Thursday, a day after a visit by U.S. House of Representatives Speaker Nancy Pelosi that outraged China.China was to begin a series of military exercises around Taiwan on Thursday in response to Pelosi's visit, some of which were to take place within the island's 12-nautical-mile sea and air territory, according to the defence ministry in Taipei.That has never happened before and a senior ministry official described the potential move as ""amounting to a sea and air blockade of Taiwan"".Register now for FREE unlimited access to Reuters.comChina, which claims Taiwan as its own territory, said on Thursday its differences with the self-ruled island were an internal affair. read more ""Our punishment of pro-Taiwan independence diehards, external forces is reasonable, lawful,"" China's Taiwan Affairs Office said.China's Xinhua news agency has said the exercises, involving live fire drills, will take place in six areas which ring Taiwan and will begin at 0400 GMT.On Wednesday night, just hours after Pelosi left for South Korea, unidentified aircraft, probably drones, had flown above the area of the Kinmen islands, Taiwan's defence ministry said. read more Major General Chang Zone-sung of the army's Kinmen Defense Command told Reuters that the drones came in a pair and flew into the Kinmen area twice on Wednesday night, at around 9 p.m. (1300 GMT). and 10 p.m.""We immediately fired flares to issue warnings and to drive them away. After that, they turned around. They came into our restricted area and that's why we dispersed them,"" he said.The heavily fortified Kinmen islands are just off the southeastern coast of China, near the city of Xiamen.The defence ministry also said its website suffered cyber attacks and went offline temporarily late on Wednesday night, adding it was working closely with other authorities to enhance cyber security as tensions with China rise. read more Pelosi, the highest-level U.S. visitor to Taiwan in 25 years, praised its democracy and pledged American solidarity during her brief stopover, adding that Chinese anger could not stop world leaders from travelling there.China summoned the U.S. ambassador in Beijing and halted several agricultural imports from Taiwan.Security in the area around the U.S. Embassy in Beijing remained unusually tight on Thursday as it has been throughout this week.Although Chinese social media users have vented fury on Pelosi, there were no signs of significant protests or calls to boycott U.S. products.'WILL NOT ABANDON TAIWAN'Taiwan scrambled jets on Wednesday to warn away 27 Chinese aircraft in its air defence zone, the island's defence ministry said, adding that 22 of them crossed the median line separating the island from China. read more Pelosi arrived with a congressional delegation on her unannounced but closely watched visit late on Tuesday, defying China's repeated warnings and amid sharply deteriorating U.S.-Chinese relations.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,"" Pelosi told Taiwan's President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more ""Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today.""China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States and the foreign ministers of the Group of Seven nations warned China against using the visit as a pretext for military action against Taiwan.""Sadly, Taiwan has been prevented from participating in global meetings, most recently the World Health Organization, because of objections by the Chinese Communist Party,"" Pelosi said in statement issued after her departure.""While they may prevent Taiwan from sending its leaders to global forums, they cannot prevent world leaders or anyone from travelling to Taiwan to pay respect to its flourishing democracy, to highlight its many successes and to reaffirm our commitment to continued collaboration,"" Pelosi added. read more Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee; Additional reporting by Tony Munroe; Writing by Raju Gopalakrishnan; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","Suspected drones over Taiwan, cyber attacks after Pelosi visit."
"Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Parents of children killed in the 2012 Sandy Hook school massacre urged a U.S. bankruptcy judge on Wednesday not to allow the parent company of far-right website InfoWars to send any money to its founder, conspiracy theorist Alex Jones, or his companies until they have an opportunity to get to the bottom of InfoWars' finances.As a jury deliberates in Austin, Texas, over how much Jones must pay two parents for his false claims that the deadly shooting was a hoax, families of Sandy Hook victims who have sued Jones for defamation in that trial and others who have sued in Connecticut warned a bankruptcy judge in Houston that Jones might continue to pull assets from InfoWars parent company Free Speech Systems LLC while using its bankruptcy case to avoid paying court judgments in the defamation cases.Marty Brimmage, an attorney for the Sandy Hook parents, told U.S. Bankruptcy Judge Christopher Lopez in Houston on Wednesday that Jones had told his audience that the bankruptcy would ""tie up"" any defamation judgment for years.Register now for FREE unlimited access to Reuters.comJudges in the Texas and Connecticut cases have already found Jones liable for defamation. The parents in the Texas trial are seeking a judgment of $150 million.Alex Jones attempts to answer questions about his emails asked by Mark Bankston, lawyer for Neil Heslin and Scarlett Lewis, during trial at the Travis County Courthouse, Austin, Texas, U.S., August 3, 2022. Briana Sanchez/Pool via REUTERS/File PhotoJones testified Wednesday in Austin, admitting that the Sandy Hook shooting was real and that it was ""crazy"" of him to call it a hoax. read more The jury has begun deliberations.The company's attorneys told the bankruptcy judge on Wednesday that they were only making a ""boring"" request for permission to make routine payments on debts during the first weeks of its Chapter 11. The company filed for bankruptcy last Friday. read more But the Sandy Hook families said the company could not be trusted to make accurate statements about its finances. They also allege that Jones took $62 million from the company while burdening it with $65 million in ""fabricated"" debt owed to PQPR Holdings, a company owned by Jones and his parents.Lopez approved a two-week budget that would allow the company to pay its bills, but he limited the amount it could pay Jones and the company's consultants during that period.Register now for FREE unlimited access to Reuters.comReporting by Dietrich Knauth, Editing by Alexia GaramfalviOur Standards: The Thomson Reuters Trust Principles.",Sandy Hook parents seek to stop InfoWars bankruptcy payments to Alex Jones.
"Cuban flags are displayed at a commercial road in downtown Havana, Cuba, July 20, 2022. REUTERS/Alexandre Meneghini/Register now for FREE unlimited access to Reuters.comHAVANA, Aug 3 (Reuters) - Cuba announced it will begin purchasing on Thursday dollars and other convertible currencies at nearly five times the current rate in an effort to undercut the informal money market and capture the funds.Central Bank President Marta Wilson Gonzalez, appearing on state-run television on Wednesday evening, said the state-run banking system had set a new rate of 120 pesos to the dollar, compared to the official fixed rate of 24 pesos, and 115 pesos on the informal market, according to independent online news outlet El Toque tracker, the most watched in the communist-run country.Gonzalez said the new rate would float and did not apply to most activities of the state-dominated economy which would still operate at the fixed rate in effect for more than 18 months.Register now for FREE unlimited access to Reuters.comCuba stopped accepting dollars in 2020 citing U.S. sanctions and stopped selling convertible currency for pesos to the public soon after, stating it simply did not have the cash.Economy Minister Alejandro Gil, appearing with the central bank president on Wednesday, said in the near future he hoped to resume currency exchanges, but the first step would be capturing the informal market.“Today there is a high level of foreign currency that is entering the country that is not being captured by the national financial system,” he said.Hit by harsh new U.S. sanctions, the pandemic and current high international prices for goods and shipping, the near-bankrupt, import-dependent economy grew 1.3% last year after declining 10.9% in 2020. Gil said a gradual if slow recovery continued without giving figures.Shortages of food, medicine, fuel and now electricity have led to scattered protests in recent months.Pavel Vidal, a former Cuban central bank economist who teaches at Colombia’s Pontificia Universidad Javeriana Cali, said the measure addressed a major complaint of tourists who exchanged money at the fixed government rate in hotels and then discovered outside on the street everything is pegged at the informal rate.Vidal said it would also benefit ""the private sector which often receives foreign currency from tourists and that the banks will once more accept and exchange physical dollars at 120 which unlocks one of the major impediments that remittances had as they were fetching 24 pesos.""Register now for FREE unlimited access to Reuters.comReporting by Marc Frank; Editing by Lincoln Feast.Our Standards: The Thomson Reuters Trust Principles.",Cuba more than quadruples dollar/peso exchange rate.
"A rescue worker works in the aftermath of shelling, as Russia's invasion of Ukraine continues, at Mykolaiv Regional Skin and Venereal Diseases Dispensary, in Mykolaiv, Ukraine, in this handout image released August 1, 2022. State Emergency Service of Ukraine in the Mykolaiv region/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSummaryUkraine warns of new Russian southern offensiveStrike force aimed at president's hometown, says UkraineU.S., Italy approve Finland, Sweden accession to NATOUkraine calls on China to help end war, says SCMPKYIV/WASHINGTON, Aug 4 (Reuters) - Ukraine said Russia had started creating a military strike force aimed at President Volodymyr Zelenskiy's hometown of Kryvyi Rih, as NATO moved closer to the most significant expansion of the alliance in decades as it responds to the invasion of Ukraine.The U.S. Senate and the Italian parliament both approved on Wednesday Finland and Sweden's accession to the 30-member North Atlantic Treaty Organisation (NATO). Under NATO membership, which must be ratified by all 30 member states, an attack on one member is an attack against all. read more ""This historic vote sends an important signal of the sustained, bipartisan U.S. commitment to NATO, and to ensuring our Alliance is prepared to meet the challenges of today and tomorrow,"" U.S. President Joe Biden said in a statement.Register now for FREE unlimited access to Reuters.comRussia, which invaded Ukraine on Feb. 24, has repeatedly warned Finland and Sweden against joining NATO.NATO's 30 allies signed the accession protocol last month, allowing them to join the U.S.-led nuclear-armed alliance once its members ratify the decision. read more Ratification could take up to a year.Ukraine on Wednesday dismissed suggestions by former German Chancellor Gerhard Schroeder that Russia wanted a ""negotiated solution"" to the five-month war and said any dialogue would be contingent on a Russian ceasefire and withdrawal of its troops.Tentative attempts at peace talks in March went nowhere.The South China Morning Post (SCMP) reported on Thursday that Ukraine was seeking an opportunity to speak ""directly"" with Chinese leader Xi Jinping to help end the war.In an interview with SCMP, Zelenskiy urged China to use its political and economic influence over Russia to bring an end to the fighting.""It's a very powerful state. It's a powerful economy … So (it) can politically, economically influence Russia. And China is (also a) permanent member of the U.N. Security Council,"" the report quoted Zelenskiy as saying.NEW SOUTHERN OFFENSIVEUkraine on Wednesday night said Russia was engaged in considerable military activity in the east, northeast and south of the country and warned that Moscow could be preparing new offensive operations in southern Ukraine. read more Dmytro Zhyvytsky, governor of Sumy region on the border with Russia, said three towns had been shelled by Russian forces on Wednesday, with a total of 55 missiles fired. There were no injuries, but homes and commercial premises were damaged.He said eight artillery shells hit residential parts of Krasnopilska community.Reuters was not able to verify battlefield reports.Russia denies it targets civilians, but many towns and cities have been destroyed and thousands of civilians killed in the biggest conflict in Europe since World War Two. Ukraine and its Western allies accuse Russian forces of war crimes.Russian President Vladimir Putin sent troops in Ukraine in what he said was a ""special military operation"" to rid the country of fascists. Ukraine and the West said Putin launched an unprovoked ""imperial"" land grab.The war has sparked a global energy and food crisis. Russia and Ukraine produce about one third of global wheat and Russia is the main energy supplier to Europe.An agreement between Moscow and Kyiv, brokered by the United Nations and Turkey, to allow safe passage of grain ships from Ukraine has been hailed as a rare diplomatic success in the war.The first ship carrying Ukrainian grain since the war started passed through the Bosphorus Strait on Wednesday.The ship, Razoni, left Odesa on the Black Sea early on Monday carrying 26,527 tonnes of corn to the Lebanese port of Tripoli. read more A senior Turkish official said three ships could leave Ukrainian ports daily following the Razoni's departure, while Ukraine's infrastructure minister said 17 more ships had been loaded with agricultural produce and were waiting to set sail.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Michael Perry; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.","Ukraine warns of new Russian offensive; Sweden, Finland move closer to joining NATO."
"Register now for FREE unlimited access to Reuters.comBAKU, Aug 3 (Reuters) - Azerbaijan said its forces had crushed an Armenian attack near the disputed enclave of Nagorno-Karabakh on Wednesday, prompting international calls for an end to fighting in a region that has been a flashpoint for 30 years.Nagorno-Karabakh broke away from Azerbaijan with Armenian support after a bloody post-Soviet ethnic conflict in the early 1990s. In 2020, Azerbaijan successfully won back part of the territory controlled by the separatists.Under the terms of a subsequent ceasefire, Russian peacekeepers were deployed to protect the remainder of the separatist-held territory. Both sides though accuse each other of breaches and in recent days violence has flared.Register now for FREE unlimited access to Reuters.comThe Azeri defence ministry said Armenia had grossly violated the ceasefire by committing an act of sabotage that killed one soldier. In addition, Baku said its forces had beaten back an Armenian attempt to capture a hill in an area controlled by the Russian peacekeepers.""As a result, those fighting for the illegal Armenian armed formations were killed and injured,"" it said in a statement, demanding all Armenian troops pull out of the area and promising ""crushing"" countermeasures if necessary.In response, Armenia's foreign ministry said Azerbaijan had violated the ceasefire by launching an attack in areas controlled by the peacekeepers. In a statement, it said Yerevan wanted the international community ""to undertake measures toward halting the aggressive behaviour and actions of Azerbaijan"".The European Union called for an immediate end to hostilities and said both sides should respect the ceasefire, a call echoed by the Polish chairman of the Organization for Security and Co-operation in Europe.""The United States is deeply concerned by and closely following reports of intensive fighting around Nagorno-Karabakh, including casualties and the loss of life,"" U.S. State Department spokesman Ned Price said. ""We urge immediate steps to reduce tensions and avoid further escalation.""Earlier, separatist authorities in the ethnically Armenian enclave declared a partial mobilisation.Russia said the situation in the areas controlled by its peacekeepers was getting more tense and reported at least one violation of the ceasefire by Azeri forces, Interfax said.Register now for FREE unlimited access to Reuters.comReporting by Nailia Bagirova
Additional reporting by Dan Whitcomb; writing by David Ljunggren; editing by Bernadette Baum, Alistair Bell and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.","Azerbaijan says it crushed Armenia attack near enclave, EU wants end to fighting."
"A woman passes ASEAN Summit flags at Suntec Convention Centre in Singapore, November 11, 2018. REUTERS/Edgar SuRegister now for FREE unlimited access to Reuters.comPHNOM PENH, Aug 4 (Reuters) - Southeast Asia's regional bloc ASEAN warned on Thursday that an increase in international and regional volatility could lead to ""miscalculation, serious confrontation, open conflicts and unpredictable consequences among major powers"".The Association of Southeast Asian Nations made the remarks in a statement from foreign ministers after the bloc's chair Cambodia had called on all sides to de-escalate tensions over Taiwan.Register now for FREE unlimited access to Reuters.comReporting by Narin Sun;
Writing by Ed Davies;
Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.","ASEAN concerned over regional volatility, risk of miscalculations over Taiwan."
"FILE PHOTO - The logo of Argentine online marketplace MercadoLibre is seen in this undated handout illustration distributed to Reuters on July 27, 2022. Mercado Libre/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSAO PAULO, Aug 3 (Reuters) - South American e-commerce giant MercadoLibre Inc (MELI.O) reported on Wednesday that its second-quarter net income rose 79.8% year-on-year, beating earnings forecasts.The company, present in 18 countries including Brazil, Mexico and Colombia, reported a net income for the three-month period of $123 million, beating a Refinitiv forecast of $98.9 million.After the results, MercadoLibre's senior strategy vice president Andre Chaves said the company has plans to grow in Latin America, but ""there is nothing in sight at the moment in terms of acquisitions.""Register now for FREE unlimited access to Reuters.com""If so, it will be something small,"" Chaves said.Brazil, which represented 56% of the group's net revenue in the quarter, remains the company's main focus, Chaves added.In March, the group announced an investment in Brazil of 17 billion reais through this year, part of which would be used to open four logistics centers and double its delivery capacity.Furthermore, the company said during a call with analysts it sees Mexico's potential to be a larger and more profitable market in the longer term, adding this has been their first profitable quarter in the country in the last five years.Shares of MercadoLibre were up 12% at 6:00 pm Eastern time (2200 GMT) in extended trade Wednesday.The company's net revenue rose 56.5% in constant currency and 52.5% in dollars to $2.6 billion as it registered growth in revenues from its commerce and fintech sectors.The group's financial arm, Mercado Pago, saw net revenue soar 112.5% ​​in dollars year-on-year to $1.2 billion, as it expanded its lines of business such as insurance and investment tools.Mercado Pago reported an 83.9% jump in total payment volume in constant currency to $30.2 billion. Its credit portfolio reached $2.7 billion in the quarter, a 12.5% increase in comparison to the previous quarter.Register now for FREE unlimited access to Reuters.comReporting by Aluisio Alves and Aida Pelaez-Fernandez; Writing by Carolina Pulice; Editing by Brendan O'Boyle, Cynthia Osterman and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.","Latam's MercadoLibre profits soar, company plans growth."
"U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 4 (Reuters) - The dollar was on the front foot on Thursday, helped by several U.S. Federal Reserve officials pushing back against suggestions they will slow the pace of interest rate hikes, while the pound was flat ahead of a Bank of England meeting.The dollar index , which measures the greenback against six peers, was steady in early trade at 106.39 having eked out small gains overnight. It is up around 0.5% this week, reversing the trend of the previous two weeks.""The dollar weakened last week after the (policy setting) Federal Open Market Committee meeting because the market wanted to believe that the Fed was pivoting in a dovish manner because of slowing growth,"" said Sim Moh Siong, currency strategist at Bank of Singapore.Register now for FREE unlimited access to Reuters.com""This week, there are a lot more FOMC speakers pushing back against this idea, all singing the same tune: ‘we are not done, and you should expect more rate hikes’,"" he added .San Francisco Fed President Mary Daly and Minneapolis Fed President Neel Kashkari overnight voiced their determination to rein in high inflation, reiterating similar messages from other officials the day before. read more A Reuters poll of analysts earlier this week found 70% thought the dollar was yet to peak in this cycle, even after the dollar index hit a two-decade peak in July. read more According to CME's FedWatch tool, the market is pricing in a 58% chance of a 50 basis point rate hike at the Fed's September meeting, and a 42% chance of a another massive 75 basis point increase.However Sim said the dollar's recent performance was a mixed picture as the improved risk sentiment, which has also helped equity prices in the U.S. has been supporting risk friendlier currencies.The Australian dollar was at $0.695 on Thursday morning after gaining 0.46% the day before, trying to head back above the symbolic $0.7 level it fell from earlier in the week after seemingly dovish remarks from the central bank.Also in central bank news, Sterling was little changed at $1.2158 ahead of a BOE meeting later in the day at which most investors expect the central bank will raise rate by 50 basis points to 1.75%, the highest level since late 2008.The decision is due at 1100 GMT.The euro was flat at $1.01635 and the Japanese yen , which has borne the brunt of this week's dollar gains, recovered a little to 133.54 per dollar.Bitcoin was up a touch at $23,000.Register now for FREE unlimited access to Reuters.comReporting by Alun John; Editing bt Sam HolmesOur Standards: The Thomson Reuters Trust Principles.",Dollar climbs as Fed officials suggest more rate hikes to come.
"Entertainment August 3, 2022 / 6:56 PM / CBS News Chrissy Teigen and John Legend attend the 2022 Vanity Fair Oscar Party on March 27, 2022 in Beverly Hills, California. Getty Images Chrissy Teigen announced she is expecting her third child with husband John Legend, nearly two years after sharing the heartbreaking loss of her unborn son.  On Wednesday, Teigen shared the good news on her Instagram along with a mirror selfie showing off her growing bump. She wrote that she was nervous to share the news but that she's feeling ""hopeful and amazing."" ""The last few years have been a blur of emotions to say the least, but joy has filled our home and hearts again,"" Teigen wrote. ""1 billion shots later (in the leg lately, as u can see!) we have another on the way. Every appointment I've said to myself, 'ok if it's healthy today I'll announce' but then I breathe a sigh of relief to hear a heartbeat and decide I'm just too nervous still.""
""I don't think I'll ever walk out of an appointment with more excitement than nerves but so far, everything is perfect and beautiful and I'm feeling hopeful and amazing. Ok phew it's been very hard keeping this in for so long!"" she added.  Tiegen's pregnancy comes after the loss of her unborn son, whom they named Jack, in September 2020. Teigen shared that she had suffered a miscarriage after she was hospitalized for excessive bleeding. ""We are shocked and in the kind of deep pain you only hear about, the kind of pain we've never felt before,"" Teigen wrote in an Instagram post at the time.  ""We never decide on our babies' names until the last possible moment after they're born, just before we leave the hospital. But we, for some reason, had started to call this little guy in my belly Jack. So he will always be Jack to us. Jack worked so hard to be a part of our little family, and he will be, forever. To our Jack—I'm so sorry that the first few moments of your life were met with so many complications, that we couldn't give you the home you needed to survive. We will always love you."" Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Chrissy Teigen announces pregnancy nearly two years after losing unborn son.
"Abortion rights supporters react to the news that voters had rejected a state constitutional amendment that would have declared there is no right to abortion, during the Kansans for Constitutional Freedom election watch party in Overland Park, Kansas, U.S. August 2, 2022. Evert Nelson/USA Today Network via REUTERS Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - A decisive victory for abortion rights in deeply conservative Kansas has boosted Democrats' hopes that they can harness voter anger over efforts to limit or ban the procedure to prevail in competitive races and other U.S. state referendums in November.Political analysts and organizers had anticipated an uphill battle to defeat a Republican-backed constitutional amendment that would have enabled lawmakers to restrict abortion in Kansas. read more Instead, the primary election on Tuesday drew record turnout. Almost half of registered voters cast ballots, and nearly 60% rejected the amendment. Abortion rights advocates outperformed expectations across the state, from rural to urban areas.Register now for FREE unlimited access to Reuters.comA day after the landslide win, Democrats and abortion rights campaigns across the country said Kansas showed how to galvanize voters despite concerns about the economy ahead of the Nov. 8 midterm elections.The main coalition opposing Kansas' proposed amendment credited the success to winning support from moderate Republicans, independents and voters ambivalent about abortion -- in addition to Democrats, who make up only about 26% of registered Kansas voters.""We found common ground among diverse voting blocs and mobilized people across the political spectrum to vote no,"" said Rachel Sweet, campaign manager for Kansans for Constitutional Freedom.Early results showed Kansas' abortion rights campaign outperformed Democratic candidates from past elections across the state, a testament to bipartisan support. In 14 counties that went for Republican Donald Trump over Democrat Joe Biden in the 2020 presidential election, the ""no"" vote prevailed.Leavenworth, a suburban county near Kansas City that Trump carried by more than 20 percentage points, rejected the amendment 59.3% to 40.7%. In rural Lyon County, which has not supported a Democratic presidential candidate in more than five decades, nearly two-thirds of votes favored protecting abortion rights.The U.S. Supreme Court's decision in June to overturn Roe v. Wade, the 1973 case that legalized abortion nationwide, fueled support for the ""vote no"" campaign, organizers said. The Kansas vote was the first statewide political test of abortion rights since the ruling, which advocates said drove volunteer and voter engagement.PAYING ATTENTIONConnie Broockerd, a 69-year-old retired insurance agent from the Kansas City area who is not registered with a political party, said her shock at the Supreme Court's decision to overturn Roe v. Wade made abortion a more salient issue for her and locked in her ""no"" vote on the amendment.""I never thought (Roe) would be overturned,"" Broockerd said. ""Since it has been, it's like, now I have to pay attention to that.""In Wednesday remarks on the Kansas vote, Biden said the Supreme Court ""practically dared women in this country to go to the ballot box and restore the right to choose.""Stripping abortion protections from the Kansas constitution would have allowed the state's Republican-led legislature to restrict or ban abortion. Kansas allows abortion up to 22 weeks of pregnancy with several restrictions, and polls show a majority of residents oppose total abortion bans.Republicans believe voter angst over inflation could overshadow public backlash to the Roe ruling and propel their party's candidates to victory.The Kansas initiative, a narrow question about abortion, gave voters an opportunity to express themselves on the issue specifically. In November, with more issues in the mix, Republican voters who favor abortion rights may not be willing to cross party lines and support Democratic candidates, analysts said.But Sarah Longwell, a Republican strategist who has led several anti-Trump efforts, said her research suggests that abortion could peel swing voters away from Republicans - especially in states such as Pennsylvania and Arizona, where Republicans have nominated hard-right statewide candidates.In focus groups, including with suburban, college-educated moderates likely to be key swing votes in November, Longwell said voters express deep unease with abortion bans and say the issue will affect their electoral choices. If Democrats emphasize abortion rights in their campaigns, they could win, she said.""If you ask people right now, 'What are you worried about?,' they've been very focused on the economy,"" she said. ""But when you ask specifically about abortion, they're like, 'I'm super upset about that.""UPCOMING REFERENDUMSThe Kansas vote was the first of several statewide referendums on abortion rights this year, with similar questions appearing on ballots in Kentucky, California and possibly Michigan in November.In Kansas, opponents of the amendment said they emphasized themes of bodily autonomy and individual freedom to win over voters with complex views on reproductive rights. Advertisements leaned into many Kansans' reluctance to allow the government to intervene in personal healthcare decisions, encouraging voters to ""say no to more government control.""An abortion rights coalition in Kentucky is employing the same messaging to fight a similar proposed constitutional amendment.Heather Ayer, campaign coordinator for the American Civil Liberties Union of Kentucky, said focus groups have shown that emphasizing personal liberty in medical decisions is popular.""Freedom is a big part of what people are thinking when they're going to vote on a constitutional amendment,"" Ayer said.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter and Joseph Ax
Editing by Colleen Jenkins and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Kansas offers abortion playbook for Democrats ahead of November midterms.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - A U.S. Senate panel on Wednesday took up proposals to reform federal election law, aiming to avoid a repeat of the violence of Jan. 6, 2021, when Donald Trump supporters stormed the Capitol in an effort to overturn his election defeat.The Senate Rules Committee is reviewing two legislative proposals to craft a bill to reform the 1887 Electoral Count Act, which the former president and his allies sought to use to overturn his 2020 election loss to President Joe Biden.""It's our job to make sure this never happens again, no matter who's in charge,"" Democratic Senator Amy Klobuchar, the committee's chair, said at a hearing.Register now for FREE unlimited access to Reuters.comTrump supporters stormed the Capitol in a failed effort to pressure then-Vice President Mike Pence to stop Congress from certifying the results.A bipartisan group of senators led by Democrat Joe Manchin and Republican Susan Collins proposed legislation last month that would among other things, clarify that the vice president plays only a ceremonial role during certification of presidential election results.Similar legislation has been put forward by Klobuchar, Democratic Senator Richard Durbin and independent Senator Angus King. House of Representatives Democrats are also pursuing legislation.A view shows the U.S. Capitol dome from the Cannon House Office Building on Capitol Hill in Washington, U.S., July 14, 2022. REUTERS/Elizabeth Frantz/File PhotoCalling the Electoral Count Act ""archaic and ambiguous,"" Collins said lawmakers from both parties have abused weaknesses in the law by raising frivolous objections in four of the last six presidential elections.""It took the violent breach of the Capitol on Jan. 6 to really shine a spotlight on how urgent the need for reform was,"" said Collins, one of seven Senate Republicans to vote to convict Trump on a charge of inciting insurrection at his subsequent impeachment trial.""Nothing is more essential to the survival of a democracy than the orderly transfer of power. And there is nothing more essential to the orderly transfer of power than clear rules for effecting it,"" she added.Lawmakers hope to pass reforms this year, while the House and Senate are under Democratic control.The legislation that emerges from the committee is expected to make it harder for members of Congress to raise objections to election results by requiring a vote by as much as 20% of the House and Senate. Current law allows objections with support from only one lawmaker from each chamber.Such legislation would also tighten the procedure for handling slates of electors and specify a path for challenging election results in court.Register now for FREE unlimited access to Reuters.comReporting by Rose Horowitch and David Morgan; Editing by Scott Malone and Diane CraftOur Standards: The Thomson Reuters Trust Principles.",U.S. Senate panel seeks legislative path to avoid repeat of Jan. 6 violence.
"FILE PHOTO - A PetroChina worker inspects a pump jack at an oil field in Tacheng, Xinjiang Uighur Autonomous Region, China June 27, 2018. REUTERS/Stringer ATRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Oil prices rose in early Asian trade on Thursday, bouncing off multi-month lows in the previous session caused by data signalling weak U.S. fuel demand.Brent crude futures rose 53 cents, or 0.6%, at $97.31 a barrel by 0020 GMT while West Texas Intermediate (WTI) crude futures rose 55 cents, also a 0.6% gain, to $91.21. Both benchmark fell to their weakest levels since February in the previous session.U.S. crude oil inventories rose unexpectedly last week as exports fell and refiners lowered runs, while gasoline stocks also posted a surprise build as demand slowed, the Energy Information Administration said. read more Register now for FREE unlimited access to Reuters.comOn the supply side, ministers for the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, known as OPEC+, agreed to a small increase in the group's output target, equal to about 0.1% of global oil demand. read more While the United States has asked the group to boost output, spare capacity is limited and Saudi Arabia may be reluctant to beef up production at the expense of Russia, hit by sanctions over the Ukraine invasion that Moscow calls ""a special operation"".Ahead of the meeting, OPEC+ trimmed its forecast for the oil market surplus this year by 200,000 barrels per day (bpd) to 800,000 bpd, three delegates told Reuters.Supporting prices, the Caspian Pipeline Consortium (CPC), which connects Kazakh oil fields with the Russian Black Sea port of Novorossiisk, said that supplies were significantly down, without providing figures. read more Register now for FREE unlimited access to Reuters.comReporting by Laura Sanicola; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.Laura SanicolaThomson ReutersReports on oil and energy, including refineries, markets and renewable fuels. Previously worked at Euromoney Institutional Investor and CNN.",Oil prices rebound after dropping to lowest in months on weak U.S. demand.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesYum misses estimates as expenses riseLow-income consumers pulling back - CEOPizza Hut sales declineAug 3 (Reuters) - Yum Brands Inc (YUM.N) said on Wednesday it would offer new items and promotional deals as it seeks to reverse a slowdown in demand for its pizzas and fried chicken from low-income consumers.Americans are increasingly tightening their belts as household savings drop and prices of gas and everyday essentials rise, hitting corporate earnings.Retail giants Walmart Inc (WMT.N) and Best Buy Co Inc (BBY.N) have already lowered their earnings estimates, while McDonald's Corp is considering more discounts as consumers turn to cheaper items. read more Register now for FREE unlimited access to Reuters.comPeople are getting more cautious, with the pullback from low-income consumers getting more pronounced, Yum Chief Executive Officer David Gibbs said.Yum has brought back its Mexican pizza at Taco Bell and $5 macaroni and cheese bowls at KFC and is banking on lower-priced offers at Pizza Hut to attract customers.People walk by a Taco Bell and Pizza Hut, subsidiaries of Yum! Brands, Inc. in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew KellyThe company plans to double down on promotional offerings after its quarterly earnings missed estimates on increased costs of ingredients, labor and packaging material that pushed its overall expenses by 4%.Yum second-quarter adjusted earnings per share of $1.05 fell short of estimates of $1.09, sending its stock down as much as 3.2%.The company's earnings come on the heels of better-than-expected profits from rivals McDonald's Corp and Starbucks Corp (SBUX.O), which managed to offset higher expenses through price increases. read more Yum reported quarterly same-store sales growth of 1%, largely in line with estimates, with Taco Bell posting a better-than-expected 8% increase to make up for declines at KFC and Pizza Hut.Pizza Hut sales faltered even as more than half of its U.S. restaurants adopted third-party delivery services at the end of the quarter to beef up their operations, up from 40% at the beginning of the quarter.Register now for FREE unlimited access to Reuters.comReporting by Praveen Paramasivam in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.",KFC parent doubles down on deals as consumers cut spending.
"Shopping trolley is seen in front of Walmart logo in this illustration, July 24, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Walmart Inc (WMT.N) is cutting hundreds of corporate roles in a restructuring effort, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.Around 200 jobs are being cut, the WSJ said, adding that the retailer notified employees in its Bentonville, Arkansas headquarters and other corporate offices of its restructuring move. (https://on.wsj.com/3JrppOz)Several companies, including Tesla Inc (TSLA.O), Netflix Inc (NFLX.O), and Coinbase Global Inc (COIN.O) have also been cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, inflation and an energy crisis in Europe. read more Register now for FREE unlimited access to Reuters.com""We're updating our structure and evolving select roles to provide clarity and better position the company for a strong future,"" Walmart spokesperson Anne Hatfield told Reuters in an emailed statement.The company is also investing and creating jobs in eCommerce, technology, health & wellness sectors, she said.The U.S. retailer last week slashed its profit forecast on account for surging prices for food and fuel, citing that it needed price cuts to pare inventories.With prices for gasoline and food spiking, consumers are no longer clamoring for apparel, home goods, appliances and kitchenware, saddling retailers with mountains of inventory. read more Register now for FREE unlimited access to Reuters.comReporting by Akanksha Khushi and Siddharth Cavale in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.",Walmart to cut hundreds of corporate jobs - WSJ.
"The entrance of Ecopetrol's Castilla oil rig platform is seen in Castilla La Nueva, Colombia June 26, 2018. REUTERS/Luisa Gonzalez/File PhotoRegister now for FREE unlimited access to Reuters.comBOGOTA/MEXICO CITY, Aug 3 (Reuters) - Colombia's majority state-owned oil company Ecopetrol reported record net profit for both the second quarter and the first half of 2022 on Wednesday after earnings benefited from soaring prices and increased production.Ecopetrol's net profit for the three months to June 30 stood at 10.5 trillion pesos ($2.4 billion), the company said, while first-half net profit leapt to 17 trillion pesos, versus 6.8 trillion pesos in the year-earlier period.""In these first six months of 2022, Ecopetrol is reporting a record profit. This profit, for these first six months, is already greater than the profit reported for the 12 months of 2021,"" Chief Executive Felipe Bayon said in a virtual press conference.Register now for FREE unlimited access to Reuters.comThe company reported net profit of 16.7 trillion pesos for 2021. read more Ecopetrol's results follow positive earnings reports from regional peers, Mexico's Petroleos Mexicanos, known as Pemex, and Brazilian counterpart Petroleo Brasileiro, which is referred to as Petrobras.The Brazilian company posted a quarterly net income of $10.5 billion, beating analysts' expectations, while Pemex reported its net profit soared more than ninefold to $6.5 billion, helped by surging prices. read more Ecopetrol's total sales jumped 125% in the second quarter to 43.9 trillion pesos, pushed by the rise in oil and gas prices and a positive exchange rate, the company said.The company's earnings before interest, taxes, depreciation and amortization (EBITDA) in the second quarter also rose 135.6% to 22.2 trillion pesos.The results were boosted by increased production, which rose 6.6% in the second quarter of the year to 704,600 barrels of oil equivalent per day (boed), up from 660,900 boed in the second quarter of 2021.($1 = 4,313.30 Colombian pesos)Register now for FREE unlimited access to Reuters.comReporting by Valentine Hilaire and Noe Torres in Mexico city and Oliver Griffin in Bogota, Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.","Colombia's Ecopetrol hits record profit for half-year, second quarter."
"A billboard advertising the film ""Joker"" is pictured in Los Angeles, California, U.S., October 2, 2019. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.comLOS ANGELES, Aug 3 (Reuters) - A motion picture sequel to the Oscar-winning psychological thriller ""Joker,"" based on one of the world's best known comic book villains, is set for release in theaters on Oct. 4, 2024, a spokesperson for film distributor Warner Bros said on Wednesday.""Joker: Folie a Deux,"" will star Joaquin Phoenix reprising his role as the title character, which earned him the Academy Award as best actor in the original 2019 film depicting an origin story for the arch enemy of DC Comics' superhero Batman, according to the studio spokesperson.The 2019 film, which was Oscar-nominated in the best film category and won for best original score as well as for best lead actor, was directed and produced by Todd Phillips, who co-wrote the script with Scott Silver.Register now for FREE unlimited access to Reuters.comThe story charted the psychological descent of the film's protagonist, a failed party clown and wannabe comedian Arthur Fleck, and the social forces that transformed him from a dejected loner into a cold-blooded killer who inspires a wave of violence in the fictional metropolis of Gotham City.No further details about the sequel were immediately made available by Warner Bros. But Hollywood trade publication Variety has reported that the new production will be a musical with Lady Gaga expected to play Joker's co-conspirator, Harley Quinn.Phoenix, 47, known for playing brooding or emotionally troubled characters, was widely acclaimed for one many critics hailed as one of the most chilling and disturbing performances in modern film.He was the second performer to earn an Academy Award for playing the Joker, following in the footsteps of Heath Ledger, who posthumously won the Oscar for best supporting actor for his 2008 rendition of the character in ""The Dark Knight.""Register now for FREE unlimited access to Reuters.comReporting by Lisa Richwine and Steve Gorman in Los Angeles; Editing by Chris Reese and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",Joaquin Phoenix to return to big screen as Joker in 2024 sequel.
"A sign is pictured outside an Eli Lilly and Company pharmaceutical manufacturing plant at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Picture taken March 5, 2021. REUTERS/Mike SegarRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Eli Lilly and Co (LLY.N) said on Wednesday it plans to make its COVID-19 antibody drug commercially available to U.S. states as well as hospitals and other healthcare providers from August.The drug, bebtelovimab, had received authorization in the United States in February for the treatment of mild-to-moderate COVID-19 among adults and children.Eli Lilly entered an agreement in June to supply an additional 150,000 doses of the drug to the U.S. government.Register now for FREE unlimited access to Reuters.comThe U.S. government will exhaust their supply of bebtelovimab as early as the week of August 22 and, without congressional appropriations, does not have the funds to purchase more, Lilly told Reuters.Lilly would make bebtelovimab commercially available through a sole distributor beginning the week of Aug. 15, the company said.This will be done under the existing emergency use authorization, Lilly said, adding that it currently does not plan to pursue full approval for bebtelovimab.Register now for FREE unlimited access to Reuters.comReporting by Amruta Khandekar; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.",Eli Lilly to make COVID-19 antibody drug commercially available from August.
"Crime August 3, 2022 / 12:07 PM / CBS/AP Woman demands change after nightclub spiking Woman demands change after ""strange"" spiking at U.K. nightclub 02:06 Police in Spain are investigating about 50 reported cases of women getting pricked with medical needles while at nightclubs or parties, a trend that previously came to the attention of authorities in other European countries.So far, Spanish police have not confirmed any cases of sexual assault or robbery related to the mysterious jabs. Police said that 23 of the recently reported needle attacks were in northeast Spain's Catalonia region, which borders France.Waves of needle pricks at nightclubs and musical events also have confounded authorities in France, Britain, Belgium and the Netherlands. French police have tallied over 400 reports in recent months, and said the motive of the jabs was unclear. In many cases, it also wasn't clear if the victims were injected with a substance. Spanish police so far have found evidence of drugs in one victim, a 13-year-old girl in the northern city of Gijón who had the party drug ecstasy in her system. Local media reported that the girl was quickly taken to hospital by her parents, who were near her when she felt a prick with something sharp.In an interview with national public broadcaster TVE that aired Wednesday, Spanish Justice Minister Pilar Llop urged everyone who thinks they received a shot without their consent to go to the police, since being stabbed with a needle ""is a serious act of violence against women."" Spanish health authorities said they were updating their protocols to improve the ability to detect any substances that were possibly injected into victims. The toxicological screening protocols call for blood or urine tests within 12 hours of a suspected attack, Llop said.The guidelines advise victims to immediately call emergency services and go to a health center as soon as possible.In southwest France, a spate of needle attacks were reported during the Bayonne Festival, which about 1.2 million people attended last week in the city near Spain's border.Bayonne Deputy Prosecutor Caroline Parizel said 124 people received medical examinations after they reported potential needle attacks. They included both women and men. Eleven filed legal complaints. Last month, French prosecutors charged a 20-year-old man in southern France in connection with a spate of needle attacks. A rash of needle spiking cases was reported in Britain in 2021. In November, 19-year-old British student Sarah Buckle told CBS News she was out clubbing with her friends when something went terribly wrong.""Apparently I started screaming and then throwing up and going unconscious and coming back around, and it was just this horrible cycle,"" Buckle told CBS News. ""My friends, at this point, could tell: 'No, something's really, really wrong… She's not had too much to drink. This is something completely different,'"" Buckle said.Her friends took her to the hospital, where she woke up the next morning with no memory of what had happened the night before. Her hand was throbbing, and a bruise was developing with what looked like a needle prick in the middle.""When I spoke to police, they also found it very strange, and a scientist who works with the police had a look and said, 'Well, that definitely looks like a needle prick.'""  A bruise on Sarah Buckle's hand that police told her looked like a needle prick. Sarah Buckle Haley Ott contributed to this report. In: Spain Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Spain is latest nation with reports of mysterious needle pricks at nightclubs: ""A serious act of violence against women""."
"Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File PhotoRegister now for FREE unlimited access to Reuters.comHOUSTON, Aug 3 (Reuters) - Occidental Petroleum Corp (OXY.N) plans to use the bonanza from high oil and gas prices to accelerate debt payments and cash distribution to shareholders but will not raise oil production, Chief Executive Vicki Hollub said on Wednesday.White House officials have been urging oil producers to invest in more oil production to bring fuel prices down to consumers. The top oil producers in the U.S. and Europe posted record earnings in the second quarter, but kept a check on investments. read more Occidental on Tuesday posted higher than expected earnings in the second quarter, but cut its 2022 output outlook for the main unconventional basin in the United States, knocking its shares down more than 6% to close at $60.99. read more Register now for FREE unlimited access to Reuters.comThe company also said it resumed a buyback program after reaching its short-term debt reduction goals in the second quarter. With a cleaner balance sheet, the U.S. oil producer said it can now slightly raise dividends and sustain stock repurchases ""over the next few years"".Occidental also said it wants to accelerate a three-year target to bring debt down to $15 billion, from more than $21 billion now. Investment targets were unchanged.""We don't feel the need to grow production until we get beyond that point,"" Hollub told analysts on a webcast to discuss second quarter earnings. ""Because we feel like one of the best values right now is investment in our own stock.""United Nations Secretary-General Antonio Guterres on Wednesday slammed the ""grotesque greed"" of oil companies, urging governments globally to ""tax these excessive profits"" to support the most vulnerable people. read more The Permian basin this year should deliver around 521,000 barrels of oil equivalent per day (boed) for the company, from around 532,000 boed projected in May, it said.The reduction follows third party processing issues and a partial Permian production transfer to Colombian oil producer Ecopetrol, with whom Occidental signed a joint venture.Total 2022 production outlook was kept stable at around 1.55 million boed, with higher production in the Rockies and the Gulf of Mexico basins offsetting losses in the Permian.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle; Editing by Jonathan Oatis, Alexander Smith and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.","Occidental to cut debt and distribute cash, won't raise oil output."
"Register now for FREE unlimited access to Reuters.comSummaryUkraine dismisses Schroeder comment on 'negotiated solution'Schroeder 'voice of Russian royal court', Zelenskiy aide saysFirst Ukrainian grain ship in wartime on way to LebanonRussian military active in east, northeast, south -UkraineKYIV/ISTANBUL, Aug 3 (Reuters) - Ukraine on Wednesday dismissed comments by former German Chancellor Gerhard Schroeder that Russia wanted a ""negotiated solution"" to the war and said any dialogue would be contingent on a Russian ceasefire and withdrawal of its troops.Schroeder, a friend of Russian President Vladimir Putin and increasingly derided in Germany for his pro-Russia stance, said last month's agreement on grain shipments from Ukraine, aimed at easing a global food crisis, might offer a way forward. read more The first grain ship since the war began more than five months ago passed through the Bosphorus Strait on Wednesday en route to Lebanon. read more Register now for FREE unlimited access to Reuters.com""The good news is that the Kremlin wants a negotiated solution,"" Schroeder told Stern weekly and broadcasters RTL/ntv, adding he had met Putin in Moscow last week. ""A first success is the grain deal, perhaps that can be slowly expanded to a ceasefire.""In response, Ukrainian presidential adviser Mykhailo Podolyak described Schroeder as a ""voice of the Russian royal court"" and made clear that the grain agreement would not lead to broader negotiations.""If Moscow wants dialogue, the ball is in its court. First — a cease-fire and withdrawal of troops, then — constructive (dialogue),"" Podolyak wrote on Twitter.In a video address on Wednesday night, Ukrainian President Volodymr Zelenskiy also responded bitterly to the notion of talks with Russia.""It is simply disgusting when former leaders of major states with European values work for Russia, which is at war against these values,"" Zelenskiy said.Tentative attempts at peace talks in March went nowhere.Russia is engaged in considerable military activity in the east, northeast and south of Ukraine, a statement by the General Staff of the Armed forces said on Wednesday night.In the northeastern region of Kharkiv, where Ukrainian forces have had success in expelling Russian troops, Russian forces shelled a dozen towns with tank fire and launched air strikes, the statement said.Shelling was also carried out near the central town of Kramatorsk, which Russian forces hope to capture as they move south, the military said. There was shelling in about eight towns and villages, it said.Reuters was not able to immediately verify battlefield reports.Russia has started creating a military strike force aimed at Zelenskiy's hometown of Kryvyi Rih in central Ukraine, the Ukrainian military said earlier. read more BREAD BASKETUkrainian servicemen fire with a BM21 Grad multiple launch rocket system in a frontline in Kharkiv region, as Russia's attack on Ukraine continues, Ukraine August 2, 2022. REUTERS/Sofiia GatilovaThe grain agreement, brokered by the United Nations and Turkey, has been hailed as a rare diplomatic success in the war, which Russia describes as a ""special military operation"" to rid Ukraine of fascists, an assertion the Kyiv government and its Western allies said was a baseless pretext for an unprovoked conflict.Zelenskiy played down the importance of the grain deal on Wednesday, saying the shipment was a fraction of the crop Kyiv must sell to help salvage its shattered economy.The ship, Razoni, left Odesa on the Black Sea early on Monday carrying 26,527 tonnes of corn to the Lebanese port of Tripoli.Zelenskiy, speaking via video to students in Australia, said through an interpreter that more time was needed to see whether other grain shipments would follow.He said Ukraine, one of the world's top grain producers before the war and known as Europe's bread basket, had to export a minimum 10 million tonnes to urgently help bring down its budget deficit which was running at $5 billion a month.A senior Turkish official said three ships could leave Ukrainian ports daily following the Razoni's departure, while Ukraine's infrastructure minister said 17 more ships had been loaded with agricultural produce and were waiting to set sail.Ukraine's forecast for its 2022 harvest has increased to 65 million-67 million tonnes of grain from 60 million tonnes, Prime Minister Denys Shmygal said.In a Telegram message, he praised farmers for pressing ahead with the harvest, even in areas where shelling continues.""The war ... is almost killing the economy. It's in a coma,"" Zelenskiy said. ""Russia's blocking of the ports is a great loss for the economy.""Zelenskiy has repeatedly said Moscow may try to obstruct exports despite signing up to the deal.Russia, which blockaded the ports after the Feb. 24 invasion, has said it wants to see more done about the exports of its own grain and fertilisers.It has denied responsibility for the food crisis, saying sanctions by the West have slowed its exports.One of the companies affected by the sanctions, U.S. oil producer Exxon Mobil, is making progress exiting its stake in the Sakhalin-1 oil and gas development in the Russian Far East, a company spokesperson said. read more Ukraine and Russia have traded accusations over a missile strike or explosion on Friday that appeared to have killed dozens of Ukrainian prisoners of war in the eastern frontline town of Olenivka, held by Moscow-backed separatists.A fact-finding mission will begin into the deaths, U.N. Secretary-General Antonio Guterres said on Wednesday. It had been requested by both sides, he said. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Andrew Osborn, Nick Macfie and Grant McCool; Editing by Andrew Cawthorne, Angus MacSwan and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.","Russian ceasefire and troop pullout must precede any talks, says Ukraine."
"People look at data on their mobiles as background with crowd of people walking is projected in this illustration picture taken on May 30, 2018. REUTERS/Kacper Pempel/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 3 (Reuters) - India's new privacy law draft is ""very close"" to being released and the government is targeting a parliamentary approval by early 2023, the country's IT minister told Reuters on Wednesday.India's government had earlier in the day withdrawn the data protection and privacy bill, which was first proposed in 2019 and had alarmed big technology companies such as Facebook and Google, announcing it was working on a new comprehensive law. read more ""We have started the drafting of the new bill, which is in good advanced stages,"" minister Ashwini Vaishnaw said, saying the draft release was ""very close"".Register now for FREE unlimited access to Reuters.comReporting by Aditya Kalra in New Delhi; Editing by Alison WilliamsOur Standards: The Thomson Reuters Trust Principles.",India targets early 2023 approval for new privacy bill - minister.
"Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016. REUTERS/Nick Oxford/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 3 (Reuters) - The shrinking discount of U.S. crude to Brent and rising Canadian oil imports this month will send more barrels to the top U.S. oil storage hub, continuing a recent supply build, oil dealers and traders said.Rising storage levels at Cushing, Oklahoma, the delivery point for U.S. crude oil futures , are putting pressure on futures prices, which could help ease U.S. inflation. After running up to $122.11 per barrel, U.S. oil futures on Wednesday settled at $90.66, down more than 25% in the last two months.The end of Canadian oil sands maintenance is among the main factors pushing inventories higher, one trader said. U.S. oil exports, after hitting new records last month, shrank sharply last week as buyers pulled back amid recession fears.Register now for FREE unlimited access to Reuters.comWTI futures sank by more than $3 a barrel on Wednesday after government data showed a 926,000 barrel build at the storage hub and declining exports last week.Meanwhile, the spread between WTI and Brent futures , called the arb, shrank to minus $7 a barrel from roughly minus $11 on Friday, discouraging foreign buyers of U.S. barrels.""If the arb gets back to minus $10, then we should see more exports, but I have not seen or heard of any big export deals,"" one U.S. broker said on the condition of anonymity, adding that rising tanker rates also limited exports.Falling exports helped push October U.S. crude contracts to a three-month low of 84 cents above September prices, Refinitiv Eikon data show.That easing backwardation, when current prices are higher than prices farther down the line, could accelerate storage builds, said Robert Yawger, energy futures strategist with Mizuho in New York.""Once the spread trades below $1, producers and storage operators are not shy about stuffing barrels in storage,"" Yawger said.Register now for FREE unlimited access to Reuters.comEditing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.Stephanie KellyThomson ReutersA New-York-based correspondent covering the U.S. crude market and member of the energy team since 2018 covering the oil and fuel markets as well as federal policy around renewable fuels.",Shrinking U.S. exports likely to build oil stocks at Cushing storage hub.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - President Joe Biden said on Wednesday the Supreme Court and Republicans are clueless about the power of American women as he signed a second executive order aimed at protecting abortion rights.The order asks the federal health department to consider allowing Medicaid funds to be used to help facilitate out of state travel for abortions. Like Biden's first order signed in July, it is meant to address the recent Supreme Court decision to end the nationwide constitutional right to abortion.It is expected to have limited impact, as Republicans in U.S. states push a wave of laws restricting abortion, access to medication and funding for such services.Register now for FREE unlimited access to Reuters.comThe president's actions come a day after Kansas voters rejected one such effort, to remove abortion protections from the state's constitution. The vote was a resounding win for the abortion rights movement in the first statewide electoral test since the Supreme Court ruling. read more ""I don't think the court has any notion for that matter or the Republican party for that matter...how women are going to respond. They don't have a clue about the power of American women,"" Biden said. ""Last night in Kansas they found out.""He called the Kansas result a ""decisive victory"" and said voters in the state sent a ""powerful signal"" that makes clear politicians should not interfere with the fundamental rights of women.""This fight is not over and we saw that last night in Kansas,"" Biden said. The Supreme Court ""practically dared women in this country go to the ballot box and restore the right to choose,"" that it had just stripped away, Biden said.Last month, Biden said the Supreme Court, which is weighted 6-3 with conservative judges, was ""out of control"" after ruling in June to overturn Roe v Wade, ending a half-century of protections for women's reproductive rights. His first order in early July directed the federal government's health department to expand access to medication abortion and ensure that women who travel for abortions are protected. read more The latest action builds on those measures. But like the first one it remains vague about how those goals can be achieved. It asks the Health and Human Services Department to consider using funds including Medicaid, the federal and state funded insurance program it oversees, to support low-income women traveling out-of-state for abortion services, a senior administration official said.It calls on Health and Human Services Secretary Xavier Becerra to consider inviting states to apply for Medicaid waivers when treating patients who cross state lines for reproductive health services, the official said, without giving additional details.U.S. White House staff watch U.S. President Joe Biden following the signing second executive order securing access to reproductive and other health care services at the first meeting of the interagency Task Force on Reproductive Healthcare Access, in Washington, U.S., August 3, 2022. REUTERS/Evelyn HocksteinThe Hyde Amendment, a Congressional measure, states that Medicaid will not pay for an abortion unless the woman's life is in danger or the pregnancy resulted from rape or incest, making the effectiveness of the order uncertain.It also directs the department to ensure health-care providers comply with federal non-discrimination laws when offering such services and orders it to collect data to measure the impact of the ruling on maternal health, the official added.The president signed the order at the first meeting of the interagency task force on reproductive healthcare access, which was formed in July. Vice President Kamala Harris, who has traveled to six different states to convene state legislators about protecting reproductive health care in recent weeks, joined Biden for the meeting and called the abortion issue a ""healthcare crisis in America.""Senate Democrats rejected Biden's call to lift the chamber's ""filibuster"" rule requiring 60 of the 100 senators to agree on most legislation to allow them to pass a law establishing a national right to abortion.In the evenly divided Senate, U.S. Vice President Kamala Harris can cast a tie-breaking vote.Since then Biden has pivoted to urging voters to elect more Democrats to Congress in the Nov. 8 midterm elections, when Republicans are favored to win back a majority in the House of Representatives and perhaps also the Senate. He reiterated his appeal to voters on Wednesday.Democrats hope the issue may help drive voters to the polls in November.Protecting abortion rights is a top issue for women Democrats, Reuters polling shows. More than 70% of Americans think the issue should be left to a woman and her doctor.On Tuesday, Biden's Justice Department sued Idaho to block a state law that it said imposes a ""near-absolute ban"" on abortion, marking its first legal challenge to state abortion laws since the Supreme Court ruling. read more Attorney General Merrick Garland on Wednesday said the Justice Department will file a motion to dismiss a Texas lawsuit against the Biden administration's requirement that doctors nationwide provide lifesaving abortions in emergency situations or risk the loss of their Medicare funding.Register now for FREE unlimited access to Reuters.comReporting by Nandita Bose, Jeff Mason and Alexandra Alper in Washington; Editing by Scott Malone, Leslie Adler and Diane CraftOur Standards: The Thomson Reuters Trust Principles.","Biden signs abortion order, says Republicans clueless about women's power."
"Ukrainian President Volodymyr Zelensky gives a press conference at the end of an EU-Ukraine Summit at the European Council in Brussels, Belgium, October 6, 2020. Stephanie Lecocq/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comAug 4 (Reuters) - Ukraine is seeking an opportunity to speak ""directly"" with Chinese leader Xi Jinping to help end its war with Russia, President Volodymyr Zelensky said, the South China Morning Post reported on Thursday.In an interview with SCMP, the Ukrainian leader urged China to use its outsize political and economic influence over Russia to bring an end to the fighting.""It's a very powerful state. It's a powerful economy … So (it) can politically, economically influence Russia. And China is [also a] permanent member of the UN Security Council,"" the report quoted Zelenskiy as saying.Register now for FREE unlimited access to Reuters.comReporting by Jahnavi Nidumolu in Bengaluru
Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.",Zelenskiy seeking 'direct talks' with China's Xi to help end Ukraine war- SCMP.
"CBS Evening News August 3, 2022 / 7:40 PM / CBS News Kentucky uncovers devastation as floodwaters recede Kentucky uncovers devastation as floodwaters recede 02:06 In the small town of Neon, Kentucky, devastation and destruction can be found everywhere. After flood waters receded, as much as two feet of mud covered nearly every street and building, including the only pharmacy in town, The Weather Channel's Justin Michaels reported in partnership with CBS News. Now everyone is pitching in trying to clean up.  ""We're used to some flooding and some water up in the street, and we can deal with that. But when it gets 10 or 12 feet in the street, and takes out every single business, it has impacted everybody's life,"" resident Sam Quillen said. Business owner Tom King said he doesn't see the area getting ""back to the stage that they were before this disaster happened.""  King has lived in Neon his entire life. His auto collision shop has been in the family for 66 years. It was destroyed in the flooding after it was buried under nearly 10 feet of water. ""Honestly, I don't know where to start,"" he said. ""I don't know, I've lost everything I had. My whole livelihood is gone."" Many roads and bridges are still impassible, but residents in McRoberts, Kentucky, took matters into their own hands, banding together to build a makeshift bridge — the only lifeline to get in or out of town. ""I thought it was going to be months before I could even get out of here,"" resident Rodney Rose said. ""Our community came together and we got it done.""  There is concern the makeshift bridge could wash away if too much rain falls in the coming days, but residents said they'll just build it again. As the cleanup and rebuilding slowly begins, Gov. Andy Beshear says the threat isn't over as dangerous heat is expected this week. ""The biggest concern for today and tomorrow is the weather. It is very, very hot,"" Beshear said Wednesday.  In: Kentucky Flooding Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Kentucky residents begin cleanup after devastating floods: ""I thought it was going to be months before I could even get out of here""."
"Taiwan Semiconductor Manufacturing Company (TSMC) is the biggest contract chipmaker in the world. But it has been thrust in the middle of U.S.-China geopolitical tensions. logo displayed on the screen.Rafael Henrique | Sopa Images | Lightrocket | Getty ImagesU.S. House Speaker Nancy Pelosi may have left Taiwan but the visit has cast a spotlight once again on the island's critical role in the global chip supply chain and in particular on the world's biggest chipmaker, Taiwan Semiconductor Manufacturing Co., or TSMC.The controversial visit, which angered Beijing, saw Pelosi meet with TSMC Chairman Mark Liu, in a sign of how critically important semiconductors are to U.S. national security and the integral role that the company plays in making the most advanced chips.Semiconductors, which go into everything from our smartphones to cars and refrigerators, have become a key part of the U.S. and China's rivalry over technology in the past few years. More recently, a shortage of semiconductors has spurred the U.S. to try to catch up with Asia and maintain a lead over China in the industry.""Taiwan's unresolved diplomatic status will remain a source of intense geopolitical uncertainty. Even Pelosi's trip underlines how important Taiwan is for both countries,"" Reema Bhattacharya, head of Asia research at Verisk Maplecroft, told CNBC's ""Street Signs Europe"" on Wednesday.""The obvious reason being its crucial strategic importance as a chip manufacturer and in the global semiconductor supply chain.""Pelosi's visit to Taiwan and meeting with TSMC show the U.S. can't do it alone and will require collaboration with Asian companies that dominate the most cutting-edge chips.TSMC's crucial roleTSMC is a foundry. That means it manufactures chips that other companies design. TSMC has a long list of clients from Apple to Nvidia, some of the world's biggest technology companies.As the U.S. fell behind in chip manufacturing over the last 15 years or so, companies like TSMC and Samsung Electronics in South Korea, pushed ahead with cutting-edge chipmaking techniques. While they still rely on tools and technology from the U.S., Europe and elsewhere, TSMC in particular, managed to cement its place as the world's top chipmaker.TSMC accounts for 54% of the global foundry market, according to Counterpoint Research. Taiwan as a country accounts for about two-thirds of the global foundry market alone when considering TSMC alongside other players like UMC and Vanguard. That highlights the importance of Taiwan in the world's semiconductor market.When you add Samsung into the mix, which has 15% of the global foundry market share, then Asia really dominates the chipmaking sphere.That's why Pelosi made it a point to meet with TSMC's chairman.Taiwan invasion fearsChina views democratically, self-ruled Taiwan as a renegade province that needs to be reunified with the mainland. Beijing spent weeks telling Pelosi not to come to Taiwan.During her visit, China ratcheted up tensions by carrying out military drills.There is a concern that any kind of invasion of Taiwan by China could massively affect the power structure of the global chip market, giving Beijing control of technology it had not previously had. On top of that, there is a fear that an invasion could choke off the supply of cutting-edge chips to the rest of the world.""Most likely, the Chinese would 'nationalize it,' (TSMC) and begin integrating the company, and its technology, into its own semiconductor industry,"" Abishur Prakash, co-founder of advisory firm the Center for Innovating the Future, told CNBC via email.What is the U.S. doing?How does China stack up?SMIC is crucial to China's ambitions, but sanctions have cut it off from the key tools it requires to make the most cutting-edge chips as TSMC does. SMIC remains years behind its rivals. And China's semiconductor industry still relies heavily on foreign technology.TSMC does have two chipmaking plants in China but they are producing less sophisticated semiconductors unlike the manufacturing facility in Arizona.Chipmaking alliancesThe U.S. has been looking to form partnerships on semiconductors with allies in Asia including Japan and South Korea as a way to secure supply of the crucial components and maintain a lead over China.TSMC meanwhile is caught in the middle of the U.S.-China rivalry and could be forced to pick sides, according to Prakash. Its commitment to an advanced semiconductor plant in the U.S. could already be a sign of which country it is siding with.""In fact, a company like TSMC has already 'picked sides.' It's investing in the U.S. to support American chip making, and has said it wants to work with 'democracies,' like the EU, on chip making,"" Prakash said.""Increasingly, companies are striking an ideological tone in who they work with. The question is, as tensions between Taiwan and China increase, will TSMC be able to maintain its position (aligning with the West), or will it be forced to recalibrate its geopolitical strategy.""",Pelosi’s Taiwan trip puts the world's biggest chipmaker back in the spotlight of U.S.-China rivalry.
"Commonwealth Games - Athletics - Women's 100m - Final - Alexander Stadium, Birmingham, Britain - August 3, 2022 Jamaica's Elaine Thompson-Herah celebrates after winning gold REUTERS/John SibleyRegister now for FREE unlimited access to Reuters.comBIRMINGHAM, England, Aug 3 (Reuters) - Elaine Thompson-Herah, the only one of Jamaica's ""Big Three"" women to show up at the Commonwealth Games, was rewarded with the 100 metres gold medal on Wednesday, while Kenya's Ferdinand Omanyala powered to the men's title.Thompson-Herah, twice the 100/200m sprint champion at the Olympics, finished third in last month's World Championship 100 final behind Shericka Jackson and Shelly-Ann Fraser-Pryce. She was originally only a reserve for the Commonwealths but when Fraser-Pryce opted out, she stepped in.With Dina-Asher Smith, fourth in Eugene, also absent through injury, Thompson-Herah was the clear favourite for her first individual Commonwealth title.Register now for FREE unlimited access to Reuters.comShe had looked a little tired in her semi-final but grabbed the early lead in the final and ran her usual smooth race to finish a comfortable winner in 10.95 seconds.""Feeling good, I didn't have the best execution but nevertheless I had to dig for that one but I am still grateful to win my first Commonwealth Games,"" she said.""I started in 2014 in the 4x100m. Then in 2018 in the 200m I came fourth and now I upgraded to a gold.""Saint Lucia’s Julien Alfred was on her shoulder throughout for silver in 11.01 while England’s Daryll Neita recovered well from a terrible start to grab bronze in 11.07.Omanyala, who set an African record of 9.77 seconds last year, served a 14 month doping ban four years ago. He failed to make the final at last month's World Championships after arriving in the United States hours before the heats due to visa problems.Impressive in the semi-final he looked the favourite on Wednesday and duly controlled the final from gun to tape, flying out of the blocks and surging clear and looking more like a barrelling rugby prop than a sprinter to win in 10.02 seconds.He is the second Kenyan to take the title after Seraphino Antao in 1962, when the event was still run over 100 yards.South Africa's defending champion Akani Simbine took silver in 10.13 with Yupun Abeykoon from Sri Lanka getting the bronze in 10.14.Register now for FREE unlimited access to Reuters.comReporting by Mitch Phillips, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.",Thompson-Herah and Omanyala take 100 metre golds.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesU.S. service sector unexpectedly picks up in JulyPayPal rises after raising profit outlookModerna jumps on $3 billion share buyback planIndexes: S&P 500 +1.56%, Nasdaq +2.59%, Dow +1.29%Aug 3 (Reuters) - Wall Street ended sharply higher on Wednesday, with strong profit forecasts from PayPal and CVS Health Corp lifting sentiment and helping elevate the Nasdaq to its highest level since early May.Data showed the U.S. services industry unexpectedly picked up in July amid strong order growth, while supply bottlenecks and price pressures eased. That supported views that the economy was not in recession despite output slumping in the first half of the year. read more A fresh batch of strong results from companies including PayPal (PYPL.O) and CVS Health Corp boosted sentiment in a largely upbeat quarterly reporting season. Reports exceeding low expectations have helped Wall Street rebound from losses caused by worries about decades-high inflation, rising interest rates and shrinking economic output.Register now for FREE unlimited access to Reuters.com""We're going through Q2 earnings and, by and large, from the tech complex to consumer discretionary and industrials, we're seeing a lot of better-than-feared prints, and that's just good enough right now,"" said Sahak Manuelian, managing director of trading at Wedbush Securities in Los Angeles.Apple (AAPL.O) and Amazon (AMZN.O) rallied almost 4%, while Facebook-owner Meta Platforms (META.O) jumped 5.4%.PayPal soared almost 10% after it raised its annual profit guidance and said activist investor Elliott Management had an over $2 billion stake in the financial technology firm. read more CVS Health gained 6.3% after the largest U.S. pharmacy chain raised its annual profit forecast after posting strong quarterly results. read more Manuelian said an additional factor behind Wednesday's stock rally was growing confidence among investors that the Fed has already carried out the bulk of the interest rate hikes that will be necessary to bring inflation under control.Meanwhile, Richmond Federal Reserve President Thomas Barkin on Wednesday joined policymakers saying that the U.S. central bank is committed to getting inflation under control and returning it to its 2% target. read more The S&P 500 climbed 1.56% to end the session at 4,155.12 points.A trader walks on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2022. REUTERS/Andrew KellyThe Nasdaq gained 2.59% to 12,668.16 points, while Dow Jones Industrial Average rose 1.29% to 32,812.50 points.Additional data on Wednesday showed new orders for U.S.-manufactured goods increased solidly in June and business spending on equipment was stronger than initially thought, pointing to underlying strength in manufacturing despite rising interest rates. read more Wall Street's busiest tradesThe most traded stock in the S&P 500 was Tesla , with $24.3 billion worth of shares exchanged during the session. Its shares rose 2.27%.Of the 11 S&P 500 sector indexes, 10 rose, led by information technology (.SPLRCT), up 2.69%, followed by a 2.52% gain in consumer discretionary (.SPLRCD).The S&P 500 has rebounded about 13% from its closing low in mid-June and would have to climb another 15% to get back to its record high close in early January.Moderna Inc (MRNA.O) surged about 16% after the vaccine maker announced a $3 billion share buyback plan. read more Regeneron Pharmaceuticals climbed 5.9% after it beat quarterly revenue estimates, while coffee chain Starbucks Corp (SBUX.O) rose over 4% after it reported upbeat quarterly profits. read more Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a 3.7-to-1 ratio. The S&P 500 posted two new highs and 30 new lows; the Nasdaq recorded 51 new highs and 37 new lows.Volume on U.S. exchanges was relatively heavy, with 11.7 billion shares traded, compared to an average of 10.7 billion shares over the previous 20 sessions.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru and by Noel Randewich in Oakland, Calif; Editing by Sriraj Kalluvila, Arun Koyyur and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Nasdaq ends at three-month high as PayPal fuels optimism.
"U.S. August 3, 2022 / 8:08 PM / AP A group of protesters broke through an eight-foot chain fence erected Wednesday around Berkeley's historic People's Park and faced off with police officers standing guard as a construction crew began work on a controversial student housing project. The work was halted for safety reasons. The park was cleared overnight Tuesday and the fencing was put up the following day after an Alameda County Superior Court judge on Friday ruled that the University of California, Berkeley — the site's owner — could move forward with its housing plan despite local groups suing to stop it. Protesters and California Highway Patrol officers clash at People's Park in Berkeley, California, on Aug. 3, 2022.  David Paul Morris/Bloomberg/Getty Images By the early afternoon, parts of the fence had been cut down by protesters, prompting small celebrations of vindication inside the park. Some of the protesters remained on site after the university said it decided to stop construction for the day ""due to the destruction of construction materials, unlawful protest activity, and violence on the part of some protesters."" Some of the protesters climbed onto the bulldozers that remained near a basketball court in the park. In a statement, the university said it plans to assess the situation during the next few days to determine the best way to proceed with ""urgently needed student housing project."" The university plans to build a complex that would accommodate about 1,100 students as well as 125 formerly homeless people. Part of the park will be set aside to commemorate its historic significance in the civil rights movement. The protests harked back to the spring of 1969 when community organizers banded together to turn a site that the state and university seized under eminent domain, and turned into a gathering space now known as People's Park. After the university erected a fence around the park, protesters sought to reclaim it, triggering bloody battles that resulted in police shooting and killing one man and wounding dozens of others. That May 15, 1969 uprising, known as ""Bloody Thursday,"" triggered even more protests and then-California Gov. Ronald Reagan summoned the National Guard to occupy Berkeley, located about 12 miles east of San Francisco. ""It certainly does bring memories about the arrogance of the university and its unwillingness to consider the concerns of the community,"" said Dan Siegel, who was a student at the law school in 1969 who was arrested on Bloody Thursday after giving a speech at a campus rally that he ended by imploring the crowd to ""go down there and take the park."" The Associated Press reached Siegel, now a lawyer specializing in labor law, on Wednesday afternoon after the People's Park construction was stopped. Protesters remove fencing at People's Park in Berkeley, California, on Aug. 3, 2022.  (David Paul Morris/Bloomberg/Getty Images) After the fences were put up again early Wednesday morning, about 100 police officers, some in riot gear, were at the park as the crew began cutting down trees to the derision of onlookers who were mostly kept outside barricades. The police looked stoically at the onlookers amid period chants of ""power to the people!"" before the majority of the protesters marched away in unison after the university stopped construction. UC Berkeley police said in a statement that protesters threw rocks, bottles, and glass at crews working at the park, which is considered aggravated assault. The department didn't say if anyone was arrested. Two or three homeless people who were still at the park Wednesday were offered shelter, transportation and storage for their belongings. The university didn't say whether they accepted the offer. Another 46 homeless people who used to live at the park previously accepted offers for shelter at a motel that is being paid for by the city of Berkeley, the university said. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Protesters halt construction on controversial UC Berkeley housing project after tense police standoff.
"A pigeon stands in front of the Bank of England in London, Britain, April 9, 2018. REUTERS/Hannah McKayRegister now for FREE unlimited access to Reuters.comSummaryBoE set to raise rates for sixth time since DecemberInvestors and economists expected 50 basis-point moveHalf-point move would be biggest BoE rate hike since 1995UK inflation at 40-year high of 9.4% and risingSigns of economic slowdown are gathering tooLONDON, Aug 4 (Reuters) - The Bank of England is expected to raise interest rates by the most since 1995 on Thursday, even as the risks of a recession mount, in an attempt to stop a surge in inflation from becoming embedded in Britain's economy.Most investors and economists predict the BoE will increase its benchmark rate by half a percentage point to 1.75%, its highest level since late 2008 at the start of the global financial crisis, when it announces its decision at 1100 GMT.Britain's main inflation rate has soared to 9.4% - and could hit 15% in early 2023 according to the Resolution Foundation think-tank - as the repercussions of Russia's invasion of Ukraine combine with post-pandemic strains on the world economy.Register now for FREE unlimited access to Reuters.comThe BoE, which has already raised borrowing costs five times since December, said in June it would act forcefully if inflation pressures became more persistent.Since then, inflation expectations among the public have eased off a bit and the pricing plans of companies have also moderated, potentially giving the Monetary Policy Committee a case for sticking to its quarter-point rate moves. read more But the pressure on Governor Andrew Bailey and colleagues has intensified after big rate hikes by the U.S. Federal Reserve, the European Central Bank and other central banks, weakening the value of the pound, which could add to inflation.""We know they're worried about sterling and in that sense they don't want to be left as the odd one out by not joining the 50-basis-point club,"" James Smith, an economist with ING, said.A Reuters poll published on Monday showed more than 70% of 65 economists expected a half-point increase. read more On top of everything else, the BoE's inflation-fighting record has been called into question by Liz Truss, the front-runner to be Britain's next prime minister.She wants to set ""a clear direction of travel"" for monetary policy and to review the BoE's mandate. read more But some analysts say the BoE could move warily.Signs of a slowdown in the world economy are multiplying, core inflation fell in the latest data, and the central bank's new forecasts due on Thursday are likely to show inflation falling sharply in two and three years' time.In its last forecasts in May, the BoE said it saw almost no growth in Britain's economy before 2025 at the earliest.The National Institute of Economic and Social Research, a think tank, says a recession is coming that will force more than a million households to choose between heating their homes and buying enough food. read more ""Faced with this outlook, we doubt the MPC will judge Bank Rate needs to rise as quickly as markets expect,"" Samuel Tombs, an economist with Pantheon Macroeconomics, said.The BoE is also due to give more details of how it plans to start selling down the government bond holdings it racked up over more than a decade of economic stimulus.Bailey said last month that the BoE could reduce by 50 to 100 billion pounds ($61-122 billion) its 844 billion pounds of gilt holdings over the space of a year. read more ($1 = 0.8220 pounds)Register now for FREE unlimited access to Reuters.comReporting by William Schomberg; editing by David EvansOur Standards: The Thomson Reuters Trust Principles.",Bank of England on brink of biggest rate hike since 1995.
"1,093 episodes “Mad Money” takes viewers inside the mind of one of Wall Street’s most respected and successful money managers for free. Cramer is listeners’ personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind—to help you make money. “Mad Money” features the unmatched, fiery opinions of Jim Cramer and the popular Lightning Round, in which he gives his buy, sell and hold opinions on stocks to callers. “Mad Money” takes viewers inside the mind of one of Wall Street’s most respected and successful money managers for free. Cramer is listeners’ personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind—to help you make money. “Mad Money” features the unmatched, fiery opinions of Jim Cramer and the popular Lightning Round, in which he gives his buy, sell and hold opinions on stocks to callers. AUG 3, 2022 AMD CEO, Thermo Fisher Scientific CEO & Off The Charts 8/3/22 AMD CEO, Thermo Fisher Scientific CEO & Off The Charts 8/3/22 All three averages rose today, with the Dow finishing up by 416 points, and Jim Cramer is breaking down what today's turn in market means for your money. Then, fresh off yesterday's earnings, AMD CEO Lisa Su returns to sit down with Cramer to review the latest quarter and discuss what opportunities the company is looking at for this quarter. Next, Cramer is going Off The Charts with on gold, how recent inflation and cryptocurrency has affected its value and where it might be headed after its recent downturn. Plus, Thermo Fisher Scientific CEO Marc Casper. AUG 2, 2022 Airbnb CEO, GXO Logistics CEO, & Arista Networks CEO 8/2/22 Airbnb CEO, GXO Logistics CEO, & Arista Networks CEO 8/2/22 The Dow fell 402 points, while the S&P and Nasdaq faced another day of losses, and Jim Cramer is breaking down what today's turn in the market means for your money. Then, fresh off earnings, Airbnb CEO Brian Chesky breaks down the quarter's key metrics, record breaking 2Q revenue, and how summer vacations and the continuing ramp up in post-pandemic travel is impacting the current quarter. Next, GXO Logistics CEO Malcolm Wilson sits down with Cramer to dig deeper into how the company is faring a year after spinning off of XPO Logistics and coming public. Plus, Arista Networks CEO Jayshree Ullal. AUG 1, 2022 U.S Secretary of Commerce, Hertz CEO & AGCO CEO 8/1/22 U.S Secretary of Commerce, Hertz CEO & AGCO CEO 8/1/22 The three major averages posted minor losses today, and Jim Cramer is leading investors through the market with this week’s Game Plan. Next, with the CHIPS Act heading to the President's desk for signing after being passed in the House, U.S. Secretary of Commerce Gina Raimondo returns to discuss more about the legislation’s journey and what it means for domestic semiconductor manufacturing. Then, Agco CEO Eric Hansotia is breaking down the company's outlook after a strong quarter. Plus, Hertz CEO Stephen Scherr. JUL 29, 2022 CNBC Special: The Tech Trade 7/29/22 CNBC Special: The Tech Trade 7/29/22 ARK Innovation’s Cathie Wood and Satori’s Dan Niles on the bull and bear case for growth in your portfolio. Hosted by Deirdre Bosa. JUL 28, 2022 Mad Money w/ Jim Cramer 7/28/22 Mad Money w/ Jim Cramer 7/28/22 Listen to Jim Cramer’s personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind - to help you make money. JUL 27, 2022 Bank of America CEO, Ford CEO & Shopify President 7/27/22 Bank of America CEO, Ford CEO & Shopify President 7/27/22 All three averages rose and Jim Cramer is breaking down the market's reversal off yesterday’s declines. Then, Bank of America CEO Brian Moynihan talks to Cramer about interest rates, inflation, recent technology investments and the state of the consumer. Next, Ford CEO Jim Farley joins Cramer after the company reported a strong beat for its most recent quarter. Plus, Cramer's exclusive with Shopify. Customer Reviews 4.3 out of 5 3.7K Ratings Covid Every shot, every test and still covitized. Sounds like you now have natural immunity. What took you so long? Welcome to the club. Jim is over optimistic Why everyone calling sounds like a drunk as Jim? Great!!! All you have to say is Kramer! He’s the Best! Top Podcasts In Business You Might Also Like More by CNBC",‎Mad Money w/ Jim Cramer on Apple Podcasts.
"The first trial run with a Post-Panamax cargo ship in the new sets of locks on the Atlantic side of the Panama Canal, in Panama City, Panama June 9, 2016. REUTERS/Carlos Jasso/File PhotoRegister now for FREE unlimited access to Reuters.comPANAMA CITY, Aug 3 (Reuters) - The Panama Canal has seen a 30% fall in the traffic of vessels carrying liquefied natural gas (LNG), driven by Asia's weak demand for U.S. LNG and limited exports from the U.S. Gulf Coast since a terminal explosion in June, the waterway's authority told Reuters this week.Second-largest U.S. exporter Freeport LNG's Texas plant continues shut since an explosion in early June and its partial restart is not expected until October, curtailing the U.S. export capacity, even amid buoyant demand in Europe.Before the incident, the Panama Canal - the main waterway for North America's energy exports to Asian destinations - had already seen a reduction in LNG vessel transit as U.S. producers focused on supplying European customers to replace Russian gas.Register now for FREE unlimited access to Reuters.com""We have had a 30%-reduction in transit in the last nine months,"" said the Panama Canal Authority's deputy administrator, Ilya Espino de Marotta in an interview, referring to LNG tankers. ""Much of LNG from the U.S. Gulf Coast traditionally going to Asia is being diverted to Europe.""Warmer temperatures in Asia have driven down demand for LNG, especially cargoes coming from far destinations, which pay higher freight rates.Tonnage onboard Neopanamax container ships also fell, but increased in smaller vessels, she added.Port congestion forcing maritime transportation in smaller ships also took a toll on the Canal's performance, which plans to become carbon neutral by 2030, according to Espino.But the fewer LNG vessels requesting passage through the Canal have been offset by more transit of other type of vessels, including liquefied petroleum gas (LPG) tankers and cruise ships, whose activity is recovering after the pandemic.At the end of its fiscal year in September, the Panama Canal expects to have moved 520 million tonnes of goods, above the record of 516 million tonnes of the previous fiscal year, but below the Authority's goal of 535 million tonnes, Espino said.For the fiscal year starting in October, the Panama Canal expects a recovery in LNG tanker passages through the waterway, and a high percentage of vessels reserving passage slots, which is actually at around 90%.Register now for FREE unlimited access to Reuters.comReporting by Elida Moreno in Panama City; Writing by Marianna Parraga; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.","Less U.S. gas to Asia, Freeport explosion reduce LNG vessel transit through Panama."
"A student walks on the University of California Los Angeles (UCLA) campus in Los Angeles, September 18, 2009. REUTERS/Lucy NicholsonRegister now for FREE unlimited access to Reuters.comSummaryUCLA Law is tracking proposed restrictions on the teaching of critical race theory(Reuters) - Efforts to ban the teaching of critical race theory in public schools and universities have been proposed or adopted in 49 U.S. states, according to a new analysis by the University of California at Los Angeles School of Law.The law school’s CRT Forward Tracking Project has identified nearly 500 jurisdictions where critical race theory restrictions have been proposed in the past year by state and federal lawmakers, local school boards and other public officials. The school released its findings Tuesday.Florida, Virginia and Missouri had the most proposed restrictions, the researchers found. They also identified 29 bills introduced by U.S. lawmakers that try to restrict critical race theory at the federal level, though none have passed.Register now for FREE unlimited access to Reuters.comCritical race theory, which emerged out of law schools in the 1980s, argues that racism and prejudice, whether intentional or not, are embedded within U.S. laws and institutions.UCLA Law in 2000 was the first law school to establish a program dedicated to critical race theory, which supports legal scholarship in the area.Professor Kimberlé Crenshaw, who helped to advance and define critical race theory, is on the school's faculty.Critical race theory has become a political flashpoint in recent years. Conservative politicians, parents and right-wing media have deployed the term to denounce discussions of racism, ""white privilege"" or diversity initiatives in U.S. schools.According to UCLA's tracker, 20% of the anti-critical race theory proposals from the past year were made at the local school board level. California, North Carolina, Florida, Pennsylvania and Virginia saw the most board-level measures.In Democrat-controlled California, five of the eight proposals made by school boards to restrict the teaching of critical race theory were adopted, researchers found.In September 2020, the U.S. Office of Management and Budget banned critical race theory training within the federal government at former President Donald Trump's behest. President Joe Biden later reversed that ban.Among the measures tracked by UCLA, 94% involve restricting the teaching of critical race theory in K-12 schools or at colleges and universities.The most common form of enforcement among those proposals is withholding funding or issuing fines against individual teachers, administrators, schools or districts that violate the restrictions, researchers found.Read more:Law school association: Banning critical race theory is censorshipCritical race theory pioneer to receive legal education’s top honorRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Karen SloanThomson ReutersKaren Sloan reports on law firms, law schools, and the business of law. Reach her at karen.sloan@thomsonreuters.com",UCLA Law project catalogs hundreds of anti-critical race theory measures.
"Alex Jones attempts to answer questions about his emails asked by Mark Bankston, lawyer for Neil Heslin and Scarlett Lewis, during trial at the Travis County Courthouse, Austin, Texas, U.S., August 3, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Parents of children killed in the 2012 Sandy Hook school massacre urged a U.S. bankruptcy judge on Wednesday not to allow the parent company of far-right website InfoWars to send any money to its founder, conspiracy theorist Alex Jones, or his companies until they have an opportunity to get to the bottom of InfoWars' finances.As a jury deliberates in Austin, Texas, over how much Jones must pay two parents for his false claims that the deadly shooting was a hoax, families of Sandy Hook victims who have sued Jones for defamation in that trial and others who have sued in Connecticut warned a bankruptcy judge in Houston that Jones might continue to pull assets from InfoWars parent company Free Speech Systems LLC while using its bankruptcy case to avoid paying court judgments in the defamation cases.Marty Brimmage, an attorney for the Sandy Hook parents, told U.S. Bankruptcy Judge Christopher Lopez in Houston on Wednesday that Jones had told his audience that the bankruptcy would ""tie up"" any defamation judgment for years.Register now for FREE unlimited access to Reuters.comJudges in the Texas and Connecticut cases have already found Jones liable for defamation. The parents in the Texas trial are seeking a judgment of $150 million.Jones testified Wednesday in Austin, admitting that the Sandy Hook shooting was real and that it was ""crazy"" of him to call it a hoax. read more The jury has begun deliberations.The company's attorneys told the bankruptcy judge on Wednesday that they were only making a ""boring"" request for permission to make routine payments on debts during the first weeks of its Chapter 11. The company filed for bankruptcy last Friday. read more But the Sandy Hook families said the company could not be trusted to make accurate statements about its finances. They also allege that Jones took $62 million from the company while burdening it with $65 million in ""fabricated"" debt owed to PQPR Holdings, a company owned by Jones and his parents.Lopez approved a two-week budget that would allow the company to pay its bills, but he limited the amount it could pay Jones and the company's consultants during that period.Register now for FREE unlimited access to Reuters.comReporting by Dietrich Knauth, Editing by Alexia GaramfalviOur Standards: The Thomson Reuters Trust Principles.",Sandy Hook parents seek to stop InfoWars bankruptcy payments to Alex Jones.
"A view of the flags of Finland, NATO and Sweden during a ceremony to mark Sweden's and Finland's application for membership in Brussels, Belgium, May 18, 2022. REUTERS/Johanna Geron/PoolRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. Senate approved on Wednesday Finland and Sweden's accession to NATO, the most significant expansion of the 30-member alliance since the 1990s as it responds to Russia's invasion of Ukraine.The Senate voted 95 to 1 to support ratification of the two countries' accession documents, easily surpassing the two-thirds majority of 67 votes required to support ratification of the two countries' accession documents.Sweden and Finland applied for NATO membership in response to the invasion of Ukraine by Russia, which has repeatedly warned both against joining the alliance.Register now for FREE unlimited access to Reuters.comNATO's 30 allies signed the accession protocol for them last month, allowing them to join the U.S.-led nuclear-armed alliance once its members ratify the decision. read more At that point, Helsinki and Stockholm were able to participate in NATO meetings and have greater access to intelligence, but were not protected by Article Five, the NATO defense clause stating that an attack on one ally is an attack against all.The accession must be ratified by the parliaments of all 30 North Atlantic Treaty Organization members before Finland and Sweden can be protected by the defense clause.Ratification could take up to a year, although it has already been approved by a few countries, including Canada, Germany and Italy.Senators from both parties strongly endorsed membership for the two countries, describing them as important allies whose modern militaries already worked closely with NATO.""The qualifications of these two prosperous, democratic nations are outstanding and will serve to strengthen the NATO alliance,"" said Democratic Senator Bob Menendez, chairman of the Foreign Relations Committee, urging support before the vote.Senate Majority Leader Chuck Schumer invited the ambassadors and other diplomats from Finland and Sweden to the Senate to watch the vote.Republican Senator Josh Hawley was the lone no vote. Republican Senator Rand Paul voted present.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle; additional reporting by Rose Horowitch;
Editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","With eye on Russia, U.S. Senate backs Finland and Sweden's joining NATO."
"U.S. August 3, 2022 / 7:15 PM / CBS News Amtrak train hits flatbed truck in Maryland Amtrak train hits flatbed truck in Maryland 00:21 An Amtrak train struck a tractor trailer that was sitting on the tracks in Maryland on Wednesday afternoon, the company said in a statement. Only one person was injured in the incident, according to local fire officials. Amtrak Capitol Limited train 29 was en route to Chicago from Washington, D.C., when it struck the trailer in Rockville, Maryland, at about 5:20 p.m. local time, Amtrak said. A traffic backup in the area had left the trailer stuck on the tracks, Frederick County Fire and Rescue said. With nowhere to go, the train hit the trailer, sending it into a passenger truck. That truck then went into a nearby building. An Amtrak train struck a tractor trailer in Rockville, Maryland, on Wednesday, August 3, 2022. The driver of the passenger truck, identified by fire officials as an adult male, was taken to the hospital with non-life-threatening injuries. None of the 142 passengers and crew onboard the train at the time of the crash were hurt, Amtrak said. The driver of the tractor trailer and the passenger in the second truck were also unharmed, fire officials said.The train is back in service, with a delay of just over an hour, Amtrak Alerts tweeted around 6:30 p.m. Amtrak said it is working with officials to investigate the incident. The Federal Railroad Administration said it is not currently investigating the incident. In: Amtrak Train Accident Sophie Reardon Sophie Reardon is a News Editor at CBS News. Reach her at sophie.reardon@viacomcbs.com Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Amtrak train hits tractor trailer in Maryland; 1 injured, fire officials say."
"A sign at the approach road leads to Albemarle's lithium evaporation ponds at its facility in Silver Peak, Nevada, U.S., January 9, 2019. REUTERS/Ernest Scheyder/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Albemarle Corp (ALB.N), the world's largest producer of lithium for electric vehicle batteries, raised its annual forecast on Wednesday and reported a better-than-expected quarterly profit after it renegotiated supply contracts for the metal at higher prices.The results reflect the rising demand for lithium as the auto industry begins to pivot its manufacturing base toward EVs, a shift that has given significant pricing power to mining companies.Compared to last year, Albemarle now expects the price at which it sells its lithium to jump at least 225% in 2022 and adjusted profit in its lithium division to rise at least 500%.Register now for FREE unlimited access to Reuters.com""We have shifted our lithium contracting strategy to realize greater benefits from these strong market dynamics,"" Albemarle Chief Executive Kent Masters said in a statement.Shares of the Charlotte, North Carolina-based company jumped 4.4% to $250 in after-hours trading.The company reported second-quarter net income of $406.8 million, or $3.46 per share, compared with $424.6 million, or $3.62 per share, in the year-ago quarter.Excluding one-time items, Albemarle earned $3.45 per share. By that measure, analysts expected earnings of $3.26 per share, according to IBES data from Refinitiv.Adjusted profit in the company's lithium division more than quadrupled, though adjusted profit in the catalyst division, which sells to the oil refining sector, fell more than 50%. The company's bromine division, which sells chemicals used in fire extinguishers, saw a profit jump due to a jump in bromine prices.Albemarle said its lithium production this year should rise at least 20% and that expansion projects in Chile, Australia, China and the United States are on track or ahead of schedule.The company's executives plan to hold a conference call to discuss the quarterly results on Thursday.Albemarle rival Livent Corp (LTHM.N) on Tuesday said that General Motors Co (GM.N) would prepay $198 million for a supply of lithium that will not begin until 2025.Register now for FREE unlimited access to Reuters.comReporting by Ernest Scheyder; editing by Jonathan Oatis and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.Ernest ScheyderThomson ReutersCovers the future of energy and transportation including electric vehicle and battery technology, with a focus on lithium, copper, cobalt, rare earths and other minerals, politics, policy, etc. Previously covered the oil and natural gas, including a stint living in North Dakota’s Bakken shale oil patch.",Albemarle's lithium sales surge after supply contracts renegotiated.
"An entry to the tunnels is seen at Nutrien's Cory potash mine near Saskatoon, Saskatchewan, Canada August 12, 2019. REUTERS/Nayan Sthankiya/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Canada's Nutrien Ltd (NTR.TO), beat second-quarter profit estimates on Wednesday, fueled by soaring prices of crop nutrients which more than offset higher natural gas costs and lower sales volumes.However, the world's largest fertilizer producer lowered its full-year adjusted profit forecast as it expects higher natural gas costs to hurt its nitrogen business.Nutrien is the latest company to post strong quarterly profits after sanctions on Russia and Belarus, the world's second- and third-largest fertilizer suppliers.Register now for FREE unlimited access to Reuters.comThe sanctions have crimped an already tight supply of crucial crop nutrients like potash and nitrogen, and sent their prices soaring. During the reported quarter, prices approached levels not seen since the all-time highs of the 2008 food crisis.On the other hand, high prices of natural gas, used as feedstock to make nitrogen fertilizers, threaten to take the shine off profits. Prices have jumped after sanctions on Russia dented supply.Nutrien said it expects fertilizer demand to remain strong, as high crop prices and low grain stocks are expected to incentivize farmers to apply more plant nutrients to boost yields.""We expect supply challenges across global energy, agriculture and fertilizer markets to persist well beyond 2022,"" interim Chief Executive Ken Seitz said in a statement.The comment echoes those of rivals CF Industries Holdings Inc (CF.N) and Mosaic Co (MOS.N) which also posted higher quarterly profits this week.Saskatoon, Canada-based Nutrien said it now expects 2022 adjusted earnings between $15.80 and $17.80 per share, compared with its previous expectation of $16.20 to $18.70.Net earnings for the reported quarter more than tripled to a record $3.60 billion, or $6.51 a share.Excluding items, the company earned $5.85 a share, beating analysts' consensus of $5.76 per share.Nutrien's Canada-listed stock has gained 10.7% this year, compared with a 7.9% decline in the benchmark Canadian share index.Register now for FREE unlimited access to Reuters.comReporting by Ruhi Soni in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.","Nutrien beats profit estimates, lowers full-year forecast."
"CBS Mornings August 3, 2022 / 12:55 PM / CBS News Houston restaurant Bludorn is often mentioned as one of the city's best, serving French-inspired cuisine — but you wouldn't know it by some of the one-star reviews posted recently on Google. According to co-owner and Chef Aaron Bludorn, all the bad reviews appeared at the same time.""Someone was, you know, taking something that we worked so hard for — which were plenty of four-star, five-star reviews and a good rating on Google — and they knocked us down,"" Bludorn told CBS News' Janet Shamlian.Bludorn and co-owner Cherif Mbodji said before this, they rarely received negative feedback. Both Mbodji and Bludorn were concerned about the damage the bad reviews could bring. ""A reputation for a restaurant is everything,"" Mbodji said.It wasn't long before they learned the reviews were part of a scam after the restaurant received an untraceable email asking for a $75 Google Play gift card to have them taken down.  Bludorn said paying the $75 was never an option.""I didn't consider ever paying that ransom because to me that meant they would have, you know, won — and been able to. I  also didn't know where it would end,"" said Bludorn. The note said that bad reviews will continue to be left unless the ransomers received what they wanted. Restaurants across the country are reporting similar extortion threats — a barrage of bad reviews and a demand for money, in the form of a gift card, to stop them.Michelle Korsmo of the National Restaurant Association says federal agents are now involved in cases similar to Bludorn's. She encourages more awareness among diners when reading Google reviews. ""Consumers should really read reviews with a critical eye to see if they make sense with what others have said about the restaurant. Don't let a swindler scam you out of a great restaurant experience,"" Korsmo said.Bludorn says it reached out to Google, which initially said the one-star reviews didn't violate policy because there were no comments included. The restaurant then posted the blackmail attempt on its social media to explain what happened and was overwhelmed when more than 100 customers submitted their own positive Google reviews.A Google spokesperson tells CBS News the company's teams are working around the clock to thwart these attacks, remove fraudulent reviews and put protections on business profiles that may have been affected.Later, Google did remove reviews associated with Bludorn, but they removed both good and bad ones. Bludorn says the restaurant never lost customers but the incident happened at a challenging time as the restaurant deals with inflation.""We can't really raise prices because we want to stay competitive, so every guest counts right now,"" Bludorn said.","""A reputation for a restaurant is everything"": Scammers demand restaurants pay up or get hit with one-star reviews."
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesThis content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 2 (Reuters) - A long queue of Russians snaked through a Moscow shopping centre on Tuesday, waiting to get into H&M (HMb.ST) as the fashion retailer flung open its doors for a final time to sell inventory before making a full exit from the Russian market.Scores of consumer brands suspended operations in Russia after Moscow sent tens of thousands of troops into Ukraine on Feb. 24, with H&M, IKEA and Nike (NKE.N) among the companies to have announced plans for a permanent exit.""Well, it is closing, that's why we are standing here,"" one customer, Irina, told Reuters. ""I'm going to buy whatever there is.""Register now for FREE unlimited access to Reuters.comPeople line up to enter an H&M store, which was reopened to sell the remaining stock before the company exits the Russian market, in Moscow, Russia August 2, 2022. REUTERS/Maxim Shemetov""Sadly, the reason why all this is happening is awful,"" another customer, Ekaterina said. ""Everything else is meaningless, like how we are going to manage (without H&M).""Furniture giant IKEA has reopened for an online-only sale, but H&M opted to allow customers back in person. Exiting Russia, H&M's sixth-biggest market, is expected to cost the company almost $200 million and affect 6,000 staff. read more [nL8N2YZ15F]H&M did not immediately respond to a request for comment on Tuesday.A company spokesperson in July said H&M would temporarily reopen physical stores in August to sell the remaining inventory in Russia. H&M, the world's second-biggest fashion retailer, rents its 170 physical stores in the country and operates them directly.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.",Russians flock to H&M as fashion retailer opens stores to sell inventory.
"Rep. Jackie Walorski (R-IN) speaks as U.S. Secretary of Health and Human Services Alex Azar testifies to the House Select Subcommittee on the coronavirus disease (COVID-19) crisis, on Capitol Hill in Washington, U.S., October 2, 2020. J. Scott Applewhite/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - U.S. Congresswoman Jackie Walorski and two members of her staff died on Wednesday when the vehicle they were traveling in collided head-on with a car that veered into their lane, police in Indiana and her office said.Walorski, 58, a Republican who represented Indiana's 2nd congressional district in the U.S. House of Representatives, was mourned by President Joe Biden and her colleagues in Congress as an honorable public servant who strived to work across party lines to deliver for her constituents. The White House said it would fly flags at half-staff in her memory.The congresswoman had been traveling down an Indiana road on Wednesday afternoon with her communications chief, Emma Thomson, 28, and one of her district directors, Zachery Potts, 27, the Elkhart County Sheriff's Office said.Register now for FREE unlimited access to Reuters.com""A northbound passenger car traveled left of center and collided head on"" with Walorski's vehicle, killing all three occupants, the sheriff's office said. The driver of the other car, 56-year-old Edith Schmucker, was pronounced dead at the scene, near the northern Indiana town of Nappanee, it added.Confirming her death in a statement shared on Twitter by House Republican leader Kevin McCarthy, Walorski's office said: ""Dean Swihart, Jackie's husband, was just informed by the Elkhart County Sheriff's office that Jackie was killed in a car accident this afternoon.""It added: ""Please keep her family in your thoughts and prayers. We will have no further comment at this time.""Walorski was a lifelong resident of Indiana, according to her official biography. She served on the House Ways and Means Committee and was the top Republican on the subcommittee on worker and family support.Prior to her election in 2012 to the House, Walorski served three terms in the Indiana legislature, spent four years as a missionary in Romania along with her husband and worked as a television news reporter in South Bend, according to a biography posted on her congressional website.President Joe Biden, a Democrat, said he and Walorski ""may have represented different parties and disagreed on many issues, but she was respected by members of both parties for her work on the House Ways and Means Committee on which she served.""Nancy Pelosi, the Democratic speaker of the House, said in a statement that Walorski ""passionately brought the voices of her north Indiana constituents to the Congress, and she was admired by colleagues on both sides of the aisle for her personal kindness.""Register now for FREE unlimited access to Reuters.comReporting by Rami Ayyub, Eric Beech, Dan Whitcomb, Costas Pitas and Frank McGurty; Editing by Leslie Adler and David GregorioOur Standards: The Thomson Reuters Trust Principles.","U.S. lawmaker Walorski, two staffers die in Indiana car crash."
"MoneyWatch August 3, 2022 / 4:18 PM / MoneyWatch Walmart is the world's largest company by revenue for the ninth consecutive year, and for the 17th time since Fortune magazine began ranking companies by size in 1995. Fortune on Wednesday released its annual Fortune Global 500 list, a ranking of the largest and most profitable corporations worldwide. Saudi Aramco, the sixth-largest company in the world by revenue, is now the globe's most profitable company, with $105 billion in earnings, according to Fortune. In 2021, businesses of all sizes faced an uphill climb overcoming financial setbacks triggered by the COVID-19 pandemic. This year, they face new challenges, including inflation, looming fears of a recession and Russia's war in Ukraine.  ""A rebound from the worst depths of the pandemic created a huge tailwind for the world's largest companies by revenue,"" Fortune list editor Scott DeCarlo said in a statement. ""Aggregate sales and profits hit record levels in fiscal year 2021 for the Fortune Global 500."" Oil companies see record profits as consumers grapple with rising cost of living 03:47 Fortune editor-in-chief Alyson Shontell also warned of the challenges ahead for businesses as the economy slows.  ""For businesses of every size, the real test will be who can survive and thrive in tough conditions like these, especially if — or when — a recession of unknown length and depth settles in,"" she said.Walmart, the nation's largest retailer, saw its shares slide last month after the company told investors to expect lower profits for the rest of 2022 as high inflation limits consumers' ability to spend on discretionary items, like furniture and electronics. China flexes corporate musclesChina, including Hong Kong, had 136 companies on Fortune's largest companies list — the most of any nation. The U.S. ranked second, with 124, while Japan was third with 47. And for the first time in the history of the rankings, the aggregate revenue of listed companies based in Chinese-speaking countries surpassed that of U.S. companies on the list.The total combined revenues of Fortune 500 companies rose 19% over last year to $37.8 trillion — the equivalent of more than one-third of global GDP. Cumulative profits were up 88% over last year, reaching a record $3.1 trillion. The listed companies have a total of nearly 70 million employees around the world. E-commerce giant Amazon landed at No. 2 on the list, with Chinese-state owned electric company State Grid claiming the third spot. Tech company Apple ranked No.7, and pharmacy chain CVS Health ranked No.10. CVS Health was the only corporation in the top 10 with a female CEO, Karen Lynch.Here are the top 10 companies on this year's Fortune 500 by revenue (see the complete rankings):Walmart (U.S.)Amazon (U.S.)State Grid (China)China National Petroleum (China)Sinopec Group (China)Saudi Aramco (Saudi Arabia)Apple (U.S.)Volkswagen (Germany)China State Construction Engineering (China)CVS Health (U.S.) Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",China now has the most companies on the Fortune 500 list.
"Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Jurors in the Alex Jones defamation trial began deliberations on Wednesday after a lawyer for a child killed in the Sandy Hook massacre said they should ""end this nightmare"" and force the U.S. conspiracy theorist to pay them $150 million for falsely claiming the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in Texas to determine how much he and his company, Free Speech Systems LLC, must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain six-year-old Jesse Lewis, testified during the two-week trial in Austin that Jones’ followers have harassed and sent them death threats for years in the false belief that they were lying about their son’s death.Register now for FREE unlimited access to Reuters.comDuring closing arguments on Wednesday, their attorney, Kyle Farrar, urged jurors to end their nightmare and hold Jones accountable for profiting off their son’s death.""He was making money off of it by spreading misinformation and spreading lies,"" Farrar said.Federico Reynal, an attorney for Jones, conceded during his closing argument that Jones and Infowars reported “irresponsibly” on Sandy Hook but said his client was not responsible for the harassment.“We live in a community where some people just are unbalanced and are going to take action on their own,” Reynal said.Jones on Wednesday sought to distance himself from previous falsehoods that the shooting was a hoax, saying it was “crazy” of him to repeatedly make this claim.Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERSJones, who has previously acknowledged the shooting took place, told jurors that the shooting was “100% real.”In a surprise development, Mark Bankston, another lawyer for the parents, said during cross-examination on Wednesday that Jones’ legal team had ""messed up"" and inadvertently sent the plaintiffs' legal team a file containing trial strategy notes and years of texts.Bankston said the records undercut Jones' testimony that he didn't have any texts about Sandy Hook.Bankston also accused Jones of approaching the trial in bad faith, citing broadcasts where Jones said the trial was rigged against him and that the jury pool was full of people who ""don't know what planet they're on.""The lawyer on Wednesday showed jurors an image from Jones's show that Bankston said depicted Judge Maya Guerra Gamble, who is overseeing the case, on fire. Jones responded that the image showed Lady Justice on fire, not Gamble.Judge Gamble admonished Jones on Tuesday for not telling the truth under oath after he falsely told the jury he was bankrupt and had complied with plaintiffs' requests for information.""It seems absurd to instruct you again that you must tell the truth while you testify,"" she said. ""Yet here I am.""Free Speech Systems declared bankruptcy last week. Jones said during a Monday broadcast that the filing will help the company stay on the air while it appeals.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Amy Stevens, Noeleen Walder and Howard GollerOur Standards: The Thomson Reuters Trust Principles.","'End this nightmare,' Sandy Hook parents' lawyer tells jurors in Alex Jones defamation trial."
"FILE PHOTO - A Lucid Air electric vehicle is displayed at a shopping mall in Scottsdale, Arizona, U.S., September 27, 2021. REUTERS/Hyunjoo JinRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Lucid Group (LCID.O) on Wednesday halved its production forecast for electric vehicles, blaming extraordinary supply chain and logistics challenges, sending its shares down 10% after the bell.The company now expects to produce between 6,000 and 7,000 luxury electric vehicles this year, down from 12,000 to 14,000 units it targeted in February.However, the company said it had 37,000 reservations for its vehicles which represented potential sales of about $3.5 billion, up from 30,000 pre-orders it reported in the first quarter.Register now for FREE unlimited access to Reuters.comEarlier in May, the company had raised prices for most models, citing soaring commodity costs. read more EV makers have been hit by a shortage of essential components including chips and soaring commodity prices for batteries exacerbated by the Russian invasion of Ukraine.Chief Executive Officer Peter Rawlinson said at a conference in May that he was concerned about chip supplies from China due to pandemic-related lockdowns. read more In September, Lucid said it was on track to hit its goal of producing 20,000 vehicles in 2022. read more Register now for FREE unlimited access to Reuters.comReporting by Akash Sriram in BengaluruOur Standards: The Thomson Reuters Trust Principles.",EV maker Lucid halves 2022 production forecast as supply chain snarls hit.
"Baby Emma, David or Elizabeth? Not for American parents Caitlin and Luke McNeal.Rather than naming their children after grandparents, biblical figures or the British monarchy, the couple chose the names of places that hold meaningful travel memories for them.""Kinsale was when we lived in Ireland, and we vacationed in Kinsale and fell in love with it,"" said Caitlin. ""Keeneland is from Kentucky, the first place we ever vacationed together to watch the horse races.""And lastly there's Sabi — ""from the Sabi Sands in South Africa, where we went on our first solo vacay without Kinsale.""  The McNeals are part of a growing trend of choosing baby names based on travel destinations.The McNeal family — Keeneland, Luke, Sabi, Caitlin and Kinsale.Source: Caitlin McNealThe popularity of ""travel-inspired"" names increased 14% between 2000 and 2020, according a study by the luggage storage app Bounce. The company compared a short list of destination names and travel-related words with data from the U.S. Census Bureau and the U.K.'s Office for National Statistics, it said.The results show overlap in baby name choices in both countries. However, the trend of naming children after countries and cities is more pronounced in the United States than the United Kingdom, even after accounting for differences in population sizes, the study shows.Most popular 'travel-related' baby namesPreston, Israel, Phoenix and Orlando appear on both lists, yet Preston — which means priest's town — is the most popular overall.  The baby website The Bump calls the name ""old-fashioned and rather quirky ... Though some may see it as a reserved title for the wealthy, Preston is the name place of a Northern English town once known for its role in the industrial revolution.""American parents of baby boys tended to prefer domestic city names, while British parents showed a proclivity to look abroad, with names like Milan, Orlando and Rome topping their list.Sydney made the ""top 10"" lists for baby girl names in both the U.S. and the U.K., but is far more popular with American parents. It's the only name to have been chosen more than 100,000 times in the 20-year period analyzed in the study.However, Sydney's popularity is dwindling in the United States. After peaking in 2002, the name fell from the 23rd most popular name that year to 249th place in 2021, according to the U.S. Social Security Administration.Historically, baby names have been inspired by literary characters, biblical figures and the British monarchy. Now, there's a growing trend to add travel destinations to the list.Source: Ria HobanLondon also made the top 10 lists for American baby names — for both boys and girls — but may be a bit too close to home for British parents. It was chosen only 220 times in the U.K. from 2000 to 2020, compared with 44,556 times in the U.S., according to the study.Of all names in the study, Atlas rose the most in popularity, according to Cody Candee, CEO of Bounce. There were only eight babies named Atlas in 2000, but nearly 2,175 in 2020 — an increase of more than 27,000%, he said.""This may be due to parents favoring more unique and meaningful names, with Atlas originating from Greek mythology and meaning 'to endure,'"" he said.""On the other hand, there are a few names that have decreased in popularity,"" he added. ""In fact, there were 11 that disappeared completely, the biggest of which was Montreal which went from 23 to 0.""Baby names that match country namesRia and Connor Hoban with their children, (from left) Bruno, Joaquin, Bode and India.Source: Ria Hoban""Indus is female for river,"" said Ria Hoban. ""I had my elements read by chance during a night out when I found out I was pregnant, and I was told that I was a water element.""""In addition, Connor and I honeymooned in India — Delhi, north and south Goa, and Rajasthan, and I have always been mystified by the region. I've also always loved the regale of the name and [I'm] a fan of India Hick's design,"" she said, referencing the British designer and relative of the British royal family.In both the U.S. and the U.K., the trend of naming babies after countries is far more common for daughters. Except for Israel, Trinidad and Cuba, the names on both lists were either exclusively or far more popular choices for girls.Baby names that match city namesThough London, Kingston (the name of singers Gwen Stefani and Gavin Rossdale's oldest son) and Paris dominate the lists, one name is noticeably absent from this list: Brooklyn.That's because the study didn't include names of suburbs or boroughs, said Candee.The popularity of Brooklyn skyrocketed after Victoria and David Beckham chose it for their firstborn son in 1999, said Candee.If the name was included, Brooklyn would be the ""second most popular travel-inspired name for girls in the USA, with 75,948 girls named Brooklyn over the last 20 years,"" he said. However, the name is less popular boys, he said — it was chosen just 1,412 times for boys in the U.S. during the same period.Candee also said that several names were excluded from the analysis for being too commonly used to be inspired by travel. These names include Jordan, Madison, Austin and Charlotte, he said.It's unknown to what extent other names were inspired by travel or some other association parents may have made with the names.One example is Hamilton. Though there are towns and cities named Hamilton in Canada, New Zealand, the U.K. and the U.S., the popular Broadway play ""Hamilton"" or the Formula One driver Lewis Hamilton may have inspired some parents to choose the name for their children.Similarly, it's unknown to what extent parents who named their babies Paris were inspired by the French capital, the Hilton socialite or Shakespeare's ""Romeo and Juliet"" — or something else entirely.","China, Cairo, Italy: The top ‘travel-inspired’ baby names in the U.S. and the UK."
"Test tubes labelled ""Monkeypox virus positive"" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comCHICAGO, Aug 3 (Reuters) - As U.S. monkeypox cases rise, U.S. health agencies in a medical journal article published on Wednesday defended their decision to require human trial data to show that SIGA Technologies' (SIGA.O) experimental drug TPOXX is safe and effective to treat the virus.U.S. agencies have been under pressure to ease access to the drug, which is being distributed by the U.S. Centers for Disease Control and Prevention (CDC) under a special ""compassionate use"" access that requires doctors to request it from the agency or their health department and enroll each patient in a study.As of July 22, 223 people have been treated with the drug, compared with more than 6,000 known cases in the United States.Register now for FREE unlimited access to Reuters.comThe FDA approved TPOXX in 2018 for smallpox in adults and children based on studies of animals infected with monkeypox and rabbitpox, as well as safety data in healthy people. It can only be sold to the U.S. Strategic National Stockpile.Authors of the article in the New England Journal of Medicine from the Food and Drug Administration, the CDC and the National Institutes of Health (NIH) said the latter is planning a U.S.-based randomized clinical trial.Data from that study will be used to determine whether the drug gains U.S. approval for monkeypox.The drug, also known as tecovirimat, is approved for both smallpox and monkeypox in the UK and Europe. The European Union approved it under an ""exceptional circumstances"" pathway that allows for marketing approval when data cannot be obtained even after authorization.Although TPOXX was only tested in healthy people, the European Medicines Agency said it expects side effects to be similar in infected people, and deemed the drug's benefits to be greater than its risks.Dr. Jay Varma, director of the Cornell Center for Pandemic Prevention and Response who has advocated for broader access to the drug, said the FDA's standards ensure U.S. drugs are safe and set a high bar for the world, but in some circumstances, ""those strict standards are harming us.""There were 1.7 million doses of the treatment in the U.S. Strategic National Stockpile at the start of the current outbreak in May.On July 21, the CDC and the FDA began allowing doctors to prescribe the drug before the trial paperwork is completed, but still requires approval of a hospital's institutional review board for each dose.""It's definitely better. It's still very burdensome,"" said Dr. Karen Krueger, an infectious disease expert at Northwestern Medicine in Chicago, who said there is additional paperwork after the patient visit and for several follow-up visits.""It's doable but certainly a lot more challenging than how we normally prescribe drugs.""Neither the FDA nor the CDC immediately responded to a request for comment.Northwestern has treated at least 20 monkeypox patients with TPOXX and will be one of the sites for the NIH trial.To win approval, SIGA Chief Scientific Officer Dennis Hruby estimates it will likely take a 500-patient, placebo-controlled clinical trial in the United States.If cases remain high, the trial could be fully enrolled within a few months. ""It's not a terribly long trial,"" he said.SIGA Chief Executive Phillip Gomez said the company is working to launch trials in the UK, Canada, the United States and Europe.If the United States declares monkeypox a national emergency, Gomez said the drug could be granted an emergency use authorization. However, because the FDA has been ""very clear"" they want full, placebo-controlled trials, that could still take time, he said.Register now for FREE unlimited access to Reuters.comReporting by Julie Steenhuysen in Chicago; additional reporting by Natalie Grover in London; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",U.S. regulators defend requiring more data on monkeypox drug.
"Entertainment August 3, 2022 / 6:56 PM / CBS News Chrissy Teigen and John Legend attend the 2022 Vanity Fair Oscar Party on March 27, 2022 in Beverly Hills, California. Getty Images Chrissy Teigen announced she is expecting her third child with husband John Legend, nearly two years after sharing the heartbreaking loss of her unborn son.  On Wednesday, Teigen shared the good news on her Instagram along with a mirror selfie showing off her growing bump. She wrote that she was nervous to share the news but that she's feeling ""hopeful and amazing."" ""The last few years have been a blur of emotions to say the least, but joy has filled our home and hearts again,"" Teigen wrote. ""1 billion shots later (in the leg lately, as u can see!) we have another on the way. Every appointment I've said to myself, 'ok if it's healthy today I'll announce' but then I breathe a sigh of relief to hear a heartbeat and decide I'm just too nervous still.""
""I don't think I'll ever walk out of an appointment with more excitement than nerves but so far, everything is perfect and beautiful and I'm feeling hopeful and amazing. Ok phew it's been very hard keeping this in for so long!"" she added.  Tiegen's pregnancy comes after the loss of her unborn son, whom they named Jack, in September 2020. Teigen shared that she had suffered a miscarriage after she was hospitalized for excessive bleeding. ""We are shocked and in the kind of deep pain you only hear about, the kind of pain we've never felt before,"" Teigen wrote in an Instagram post at the time.  ""We never decide on our babies' names until the last possible moment after they're born, just before we leave the hospital. But we, for some reason, had started to call this little guy in my belly Jack. So he will always be Jack to us. Jack worked so hard to be a part of our little family, and he will be, forever. To our Jack—I'm so sorry that the first few moments of your life were met with so many complications, that we couldn't give you the home you needed to survive. We will always love you."" Chrissy Teigen and John Legend mourn loss of their baby 05:21 Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Chrissy Teigen announces pregnancy nearly two years after losing unborn son.
"Children are seen walking to school, on the first day of lifting the indoor mask mandate for DOE schools between K through 12, in Brooklyn, New York City, New York, U.S. March 7, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - The U.S. Centers for Disease Control and Prevention (CDC) is expected to ease its guidelines to control the spread of COVID-19, including in schools as soon as this week, CNN reported on Wednesday, citing sources familiar with the plan.The updated guidelines are expected to ease quarantine requirements for people exposed to the virus and would no longer recommend maintaining a six-feet distance at schools, according to the report.Currently, the agency requires people exposed to COVID and those not up to date on their vaccinations to stay at home and quarantine for at least five full days.Register now for FREE unlimited access to Reuters.comThe new guidelines would not require them to stay at home but instead to wear a mask and test at least five days after exposure, according to the CNN report.The agency would also remove a recommendation called 'test to stay' the report said. Test to stay involves frequent testing after close contact with a COVID-19 patient and allows for some students and teachers who do not test positive for COVID to continue in-person learning.The CDC is always evaluating its guidance ""as science changes and will update the public as it occurs,"" a spokesperson for the agency told Reuters.Register now for FREE unlimited access to Reuters.comReporting by Amruta Khandekar; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.",U.S. CDC expected to ease COVID-19 guidelines for schools this week - CNN.
"CNBC's Jim Cramer on Wednesday told investors that gold is poised to rally, making now an optimal time for investors to pounce.""The charts, as interpreted by the legendary Larry Williams, suggest that the general public's giving up on gold en masse and he thinks that that makes it the perfect entry time to do some buying,"" the ""Mad Money"" host said.Gold futures fell on Wednesday, facing pressure from a stronger U.S. dollar and Treasury yields after Federal Reserve leaders' hawkish comments on inflation the day before took metals lower.Gold is considered a safe investment and often attracts investors during periods of economic and geopolitical turmoil.Cramer began his explanation of Williams' analysis by examining the weekly action of gold going back to 2014, paired with the Commodity Futures Trading Commission's Commitments of Traders report data.The CFTC tracks futures positions of small speculators, large speculators like money managers and commercial hedgers that include companies that work with the commodity.When small speculators get too bullish on gold, it's often a sign that it's about to peak, according to Williams. Conversely, gold tends to be near a bottom when small speculators get too bearish.The Commitments of Traders data, at the bottom of the chart, reveals that small speculators are in their smallest long position since May 2019 – right before there was a major gold rally. Also worth noting is that small speculators were in their largest net long position in four years during gold's recent peak in March.While this doesn't mean investors should always do the opposite of what small speculators are doing, this is a sign that gold could gain soon, according to Cramer.""That would be too glib, but he points out that in the last 9 years, whenever their net long position in gold has been this low, the actual metal has rallied. And the best-selling points all came at moments when they had large long positions,"" Cramer said.For more analysis, watch Cramer's full explanation in the video below.","Charts suggest now is the perfect time to buy gold, Jim Cramer says."
"A view of the flags of Finland, NATO and Sweden during a ceremony to mark Sweden's and Finland's application for membership in Brussels, Belgium, May 18, 2022. REUTERS/Johanna Geron/PoolRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - More than two-thirds of the U.S. Senate approved on Wednesday Finland and Sweden's accession to NATO, the most significant expansion of the 30-member alliance since the 1990s as it faces the fallout from Russia's invasion of Ukraine.As voting continued, the tally was 74 to 1, easily surpassing the two-thirds majority of 67 votes required to support ratification of the two countries' accession documents.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle; additional reporting by Rose Horowitch; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.",Two-thirds majority of U.S. Senate backs Finland and Sweden's joining NATO.
"CNBC's Jim Cramer on Wednesday said that Congress's two behemoth spending bills have him worried about inflation's trajectory.""I'm still a bull — I've felt bullish since June when I saw commodities were going in the right direction. And I'd be very confident about wage inflation, too, if not for Congress,"" the ""Mad Money"" host said.""If the re-branded stimulus bill doesn't pass, we've got nothing to worry about, but if it does, we can only hope that it takes years and years for the government to put that money to work,"" he added, referring to the Inflation Reduction Act of 2022.The bill represents a move from Democrats to reform the tax code, battle climate change and reduce health care costs. The bill, which is a revival of President Joe Biden's Build Back Better bill, will invest over $400 billion and reduce the deficit by $300 billion over a decade-long period.Cramer said that he's also worried about how the CHIPS and Science Act of 2022 could heighten inflation, stating that its higher-than-expected price tag raises concerns about the Fed's next moves.Congress passed the bill, aimed to boost domestic production and research of chips, in late July. While the star of the show is the $52 billion in subsidies for U.S. companies producing computer chips, the package in total costs $280 million.Complicating Cramer's concerns about inflation are hawkish comments on inflation from Fed leaders on Wednesday, suggesting that the central bank needs to continue taking aggressive action to slow down the economy.""I don't want others to lose their jobs or their homes. … I have no idea how [Fed Chair] Jay Powell can stop the trillions of dollars in spending just when we have the lowest unemployment rate in decades,"" Cramer said.","Jim Cramer says Congress’s spending bills could worsen inflation, but he’s remaining bullish."
"MoneyWatch August 3, 2022 / 12:19 PM / MoneyWatch What to do with your 401(k) in bear market Amid recession fears in bear market, experts say 401(k) investors should think long term 04:58 A virtually unknown Hong Kong company has become the latest ""meme stock,"" joining companies like GameStop and AMC Entertainment in winning the hearts and dollars of online traders. Shares in AMTD Digital have soared a staggering 21,000% since the financial technology company went public in the U.S. last month, with its market value now topping bellwethers like Coca-Cola, Costco and McDonald's.AMTD first offered shares to American investors in July, when it sold American depositary receipts (ADRs) at $7.80 each. That gave the company a market value of $1.4 billion, making it the first Hong Kong ""unicorn"" — or a company worth at least $1 billion — to list on the New York Stock Exchange. While that represents a successful IPO, it's a far cry from what happened just days later. By July 29, the stock had surged to $400, while on Tuesday the ADRs closed at $1,679 each — giving it a market value of $310 billion, according to FactSet.  Nothing to see here?AMTD acknowledged the unusual activity on Tuesday, thanking investors for their support while saying in a statement that ""To our knowledge, there are no material circumstances, events nor other matters relating to our Company's business and operating activities since the IPO date.""Driving that meteoric rise is a collective interest from retail investors hoping to score big from a run-up in AMTD shares. It's not as if these traders expect the digital financial services company to suddenly produce massive profits and start paying rich dividends to shareholders. After all, AMTD had just $25 million in revenue in its most recent fiscal year, compared with $37 billion for Coca-Cola.  Instead, traders on forums such as WallStreetBets and social media are urging others to buy into the stock, convincing even more investors to jump on the bandwagon, causing a major upswing in the stock's valuation.""If you missed out on this monster run, $AMTD just started a monster run as well already up 300% and climbing, has way more liquidity than HKD this will be a multi day runner to $30-40. Thank me later,"" one trader wrote on Twitter on Tuesday.The love for AMTD Digital is also rubbing off on its parent, AMTD Idea Group, whose shares have surged about 500% since late July. On Wednesday, AMTD Idea Group was the fourth most heavily traded stock among Fidelity investors, according to the firm's data. The surge is reminiscent of the mania for GameStop and so-called meme stocks, which have lost their sheen since amateur investors flocked to the companies last year. GameStop's stock is down 1.6% this year, while AMC and Blackberry — which also saw their shares spike last year after being embraced by retail investors — have plunged 33% and 30%, respectively. MoneyWatch: How ""meme stocks"" are changing the way some large investors factor in social media's power to move financial markets 03:14 Worries about inflation and the Federal Reserves's interest rate hikes have caused some investors to cool on meme stocks, and trading in general. Popular trading app Robinhood on Tuesday said it is slashing 23% of its workforce after it lost half of its trading revenue. For now, however, AMTD's swift rise is convincing more traders to jump in, while also sparking concerns of a bubble and irrational trading among seasoned professionals and skeptics. Short-seller Jim Chanos, who tweets under the handle Diogenes, pointed out the ""$400B meme stock in the room"" on Twitter. ""We literally had Congressional hearings over the $30B runs of $GME and $AMC, but just [crickets] today. Lol, ok,"" Chanos wrote, referring to the tickers for GameStop and AMC Entertainment. But as experienced investors know, past performance is no guarantee of future results: On Wednesday, shares of AMTD Digital sank $586 to $1,092.  In: Stock Market Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","AMTD Digital's stock surged 21,000% in a matter of days. Now it's worth more than Coca-Cola."
"An image of Elon Musk is seen on smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Twitter Inc (TWTR.N) and Elon Musk, who are suing each other over the world's richest person's effort to exit their $44 billion merger, couldn't even agree on how much to tell the public about their dispute.The presiding judge, Chancellor Kathleen McCormick of Delaware Chancery Court, ruled on Wednesday that Musk's countersuit shall be made public by the afternoon of Aug. 5, two days later than Musk wanted.Musk's countersuit may be released as soon as Thursday, according to a person familiar with but not authorized to discuss the case.Register now for FREE unlimited access to Reuters.comMcCormick ruled after San Francisco-based Twitter accused Musk of trying to release his 163-page countersuit on Wednesday without giving it a chance to redact, or black out, confidential information about the company.Hours later, Musk's lawyers shot back, accusing Twitter of trying to bury ""the side of the story it does not want publicly disclosed"" and undermine the public's First Amendment constitutional right to know what both sides are arguing about.Twitter had received a copy of the countersuit on July 29, and said court rules allowed it five business days to work on redactions. Musk said three business days were enough.The dispute highlights the acrimony between Twitter and Musk, who is also chief executive of the electric car company Tesla Inc (TSLA.O).Musk agreed to buy Twitter on April 25, but sought to back out on July 8 without paying a $1 billion breakup fee, citing Twitter's failure to provide details about the prevalence of bot and spam accounts.Twitter sued him four days later, accusing him of sabotaging the merger because it no longer served his interests, and demanding he complete the merger.An Oct. 17 trial is scheduled. Twitter has this week issued dozens of subpoenas to banks, investors and law firms that backed Musk's bid, while Musk issued subpoenas to Twitter's advisers at Goldman Sachs and JPMorgan.Musk had offered to buy Twitter for $54.20 per share, saying he believed it could be a global platform for free speech.Twitter shares closed up 2 cents at $41.00 on Wednesday.Register now for FREE unlimited access to Reuters.comReporting by Tom Hals in Wilmington, Delaware and Greg Roumeliotis and Jonathan Stempel in New York
Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.",Elon Musk's Twitter countersuit due by Friday as acrimony grows.
"The eBay app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - EBay Inc (EBAY.O) surpassed estimates for second-quarter earnings and maintained its annual sales forecast, sending its shares up 4% and allaying some investor concerns over the outlook for online shopping as consumer spending shrinks.The e-commerce firm's results contrast that of brick-and-mortar retailers Walmart Inc (WMT.N) and Target Corp (TGT.N), which had warned of slowing discretionary spending as inflation-hit Americans save their dollars for gas, food and other essentials. read more ""Our focus category strategy is working, and payments and advertising are driving further growth,"" said EBay Chief Executive Jamie Iannone.Register now for FREE unlimited access to Reuters.comRevenue declined 9% to $2.42 billion in the quarter ended June 30, but came in higher than analysts' estimates of $2.37 billion, according to IBES data from Refinitiv.Excluding items, the company earned 99 cents per share, higher than expectations of 89 cents.For the current quarter, eBay forecast revenue between $2.29 billion and $2.37 billion, also above estimates of $2.30 billion.Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.","EBay beats revenue estimates, bucks slowdown in consumer spending."
"Politics Updated on: August 3, 2022 / 6:44 PM / CBS/AP NATO invites Finland, Sweden to join alliance NATO formally invites Finland and Sweden to join the alliance 12:20 Washington — The Senate voted 95-1 on Wednesday to ratify NATO membership for Finland and Sweden, with overwhelming bipartisan support expected for quickly expanding the Western military alliance in response to Russia's invasion of Ukraine.The sole no vote was Republican Sen. Josh Hawley of Missouri. Fellow Republican Sen. Rand Paul of Kentucky voted present. Senate Minority Leader Mitch McConnell, who visited Kyiv and the region earlier this year, had urged a unanimous show of approval. Speaking from the Senate floor, McConnell cited the two Nordic nations' well-funded, modernizing militaries and their experience working with U.S. forces and weapons systems, calling it a ""slam-dunk for national security"" of the United States. ""Their accession will make NATO stronger and America more secure. If any senator is looking for a defensible excuse to vote no, I wish them good luck,"" the Senate Republican leader said. Finland's Foreign Minister Pekka Haavisto, left, Sweden's Foreign Minister Ann Linde, right, and NATO Secretary General Jens Stoltenberg attend a media conference after the signature of the NATO Accession Protocols for Finland and Sweden in the NATO headquarters in Brussels, Tuesday, July 5, 2022. Olivier Matthys / AP After the vote, Senate Majority Leader Chuck Schumer tweeted that Sweden and Finland's ""membership will strengthen NATO. It will advance the cause of democracy. And it is all the more urgent given Putin's barbaric, immoral and unjustified war in Ukraine."" Senators invited the ambassadors of the countries to witness the debate and vote, which would open a new era for the North Atlantic Treaty Organization. President Biden has sought quick entry for the two previously non-militarily aligned northern European allies, and approval of the ratification resolution has vast bipartisan support in Congress.""Our NATO alliance is the bedrock that has guaranteed democracy in the Western world since the end of World War II,"" Schumer said before the vote.Schumer said he and McConnell had committed to the country's leaders that the Senate would approve the ratification resolution ""as fast as we could"" to bolster the alliance ""in light of recent Russian aggression.""The vote took place in the late afternoon following debate on the measure and various amendments. One amendment from Paul ensured that NATO's guarantee to defend its members does not replace a formal role for Congress in authorizing the use of military force. Another from Republican Sen. Dan Sullivan of Alaska declared that all NATO members should spend a minimum of 2% of their gross domestic product on defense and 20% of their defense budgets on ""major equipment, including research and development."" NATO's 30 member countries are in the process of considering the addition after Sweden and Finland set aside their longstanding stance of military nonalignment. It was a major shift in security arrangements for the two countries after neighboring Russia launched its war on Ukraine earlier this year. The U.S. and its European allies have rallied with newfound partnership in the face of Russian President Vladimir Putin's aggression, strengthening the NATO alliance first formed after World War II. Mr. Biden sent the protocols to the Senate for review in July, launching a notably speedy process in the typically divided and slower-moving chamber.Each member country in NATO needs to approve the accession of new members. The process ran into trouble when Turkey raised concerns over adding Sweden and Finland, in part because it views the two countries as soft on banned Turkish Kurdish exile groups. But the process has continued to move forward despite those early reservations. In: United States Congress Rand Paul Finland Josh Hawley United States Senate Joe Biden Ukraine Donald Trump Russia United States Military sweden Vladimir Putin NATO Kyiv mitch mcconnell Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Senate votes overwhelmingly to let Sweden and Finland join NATO.
"Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021.Brendan McDermid | ReutersRobinhood CEO Vlad Tenev said Wednesday that the retail brokerage is not looking to be acquired despite announcing major layoffs after another quarter of shrinking active users. ""In one word: No,"" Tenev said on an investor call when asked about potentially being bought by another firm. ""I think we're in a great position as a stand-alone company. I love us as a stand-alone company."" In May, FTX CEO Sam Bankman-Fried revealed a stake in Robinhood, spurring speculation about a potential takeover bid from the crypto-focused brokerage. Bankman-Fried has since said FTX is not looking to buy Robinhood outright. Tenev did say that Robinhood was on the lookout for potential acquisitions of its own. The company reported $6 billion in cash on its balance sheet at the end of the quarter. ""We actually see opportunities, particularly in this market environment, to leverage the balance sheet that we have ... to acquire companies that accelerate our roadmap,"" Tenev said. The Robinhood investor call came a day after the company announced it was laying off 23% of its workforce. The company also reported a smaller-than-expected loss for the second quarter, but monthly active users declined and revenue was down more than 40% year over year. Shares of Robinhood rose 11.7% on Wednesday following the layoff announcement. Several Wall Street analysts said the company's cost-cutting efforts could be a boost to the stock. Robinhood cut its full-year expense guidance by roughly $290 million, which includes about $70 million decline in expected share-based compensation. Tenev said that the company plans to have positive adjusted EBITDA — a measure of profitability that excludes certain costs such as interest and taxes — by the end of the year. The company pointed to rate hikes from the Federal Reserve as a source of revenue growth in the form of interest. CFO Jason Warnick estimated that every one-quarter of a percentage point rate hike translates into about $40 million of annualized revenue for Robinhood. ""The precise benefit of rate hikes will depend on how balances and customer rates vary over time,"" Warnick said. The CFO also said Robinhood's assets under custody rose back above $70 billion in July after declining in the second quarter.Despite Wednesday's rally, Robinhood's stock is still down nearly 42% for the year and more than 70% from where its IPO was priced last year.",Robinhood's Tenev says the retail brokerage firm is not interested in selling itself despite struggles.
"U.S. August 3, 2022 / 5:39 PM / CBS/AP The National Football League Wednesday appealed Cleveland Browns quarterback Deshaun Watson's six-game suspension, NFL spokesperson Brian McCarthy said. Watson on Monday was suspended by retired federal Judge Sue L. Robinson, who determined Watson had violated the league's personal conduct policy after 24 women accused him of sexual misconduct during massage treatments.NFL commissioner Roger Goodell will appoint a designee to hear the appeal, McCarthy said.In her 16-page report, Robinson described Watson's behavior as ""more egregious than any before reviewed by the NFL."" Robinson's punishment — in her first case since being jointly appointed by the league and NFL Players Association — fell well short of the indefinite suspension of at least one year sought by the league.So, the NFL on Wednesday exercised its right to appeal, per the collective bargaining agreement, which allows both the league and the player's association to challenge the punishment. The NFLPA had announced the day before the ruling that it would ""stand by"" Robinson's ruling, and called on the NFL to do the same.   The players' union has until the end of business Friday to respond in writing. The union could challenge the appeal ruling in federal court, setting the stage for a prolonged fight. Deshaun Watson #4 of the Cleveland Browns runs a drill during Cleveland Browns training camp at CrossCountry Mortgage Campus on July 30, 2022 in Berea, Ohio. Nick Cammett/Diamond Images via Getty Images This is the first time since the new collective bargaining agreement was signed in 2020 that the league and the NFLPA turned to a jointly appointed disciplinary officer to determine violations of the personal conduct policy. In the past, Goodell has served as judge and jury to impose penalties on players.A league official told The Associated Press before Watson's three-day disciplinary hearing concluded in June that the NFL wanted to avoid an appeal.But the league proceeded with one amid a backlash from some fans. Other factors include Watson's lack of remorse, which Robinson noted in her report. The NFL argued for an unprecedented punishment and wanted to fine Watson at least $5 million, a person familiar with the discussions told the AP on condition of anonymity because the hearing was private.Watson, who played four seasons with the Texans before sitting out last season and then being traded to Cleveland in March, recently settled 23 of 24 lawsuits filed by the women who alleged sexual harassment or assault during massage treatments in 2020 and 2021. Two grand juries in Texas declined to indict Watson on criminal complaints brought by 10 of the women.Robinson concluded that Watson violated three provisions of the personal conduct policy: sexual assault; conduct posing a genuine danger to the safety and well-being of another person; and conduct that undermines or puts at risk the integrity of the NFL.She declined to suspend Watson for a full year based on precedents and the league's current policy. But Robinson concluded a longer suspension could be justified if it was already outlined in the personal conduct policy.""While it may be entirely appropriate to more severely discipline players for non-violent sexual conduct, I do not believe it is appropriate to do so without notice of the extraordinary change this position portends for the NFL and its players,"" Robinson wrote in her report.Watson has continued to practice with the Browns while awaiting resolution to his case, which has raised questions about the league's handling of off-field player behavior, inconsistencies in its personal conduct policy and its overall support of women.The Browns have been in a state of limbo as well, not knowing when or if Watson will be able to play this season. Cleveland traded three first-round picks to Houston for the three-time Pro Bowl QB and signed him to a five-year, $230 million contract.Watson will lose only $345,000 if the suspension is unchanged because his base salary this season is $1.035 million. In: deshaun watson NFL Roger Goodell",NFL appeals Deshaun Watson's 6-game suspension.
"A person polishes a hood of a Porsche Taycan turbo S during the Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Michaela Rehle/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - The shortages of computer chips that forced global automakers to scrap production plans for millions of cars over the past two years are easing - at a new and permanent cost to the car companies.What had been “war room operations” to manage chip shortages are becoming embedded features of vehicle development, say executives in both industries. That has shifted the risks and some of the costs to automakers.Newly created teams at the likes of General Motors Co (GM.N), Volkswagen AG (VOWG_p.DE) and Ford Motor Co (F.N) are negotiating directly with chipmakers. Automakers like Nissan Motor Co Ltd (7201.T) and others are accepting longer order commitments and higher inventories. Key suppliers including Robert Bosch (ROBG.UL) and Denso (6902.T) are investing in chip production. GM and Stellantis (STLA.MI) have said they will work with chip designers to design components.Register now for FREE unlimited access to Reuters.comTaken together, the changes represent a fundamental shift for the auto industry: higher costs, more hands-on work in chip development and more capital commitment in exchange for better visibility in their chip supplies, executives and analysts say.It is a U-turn for automakers who had previously relied on suppliers – or their suppliers – to source semiconductors.For chip makers, the still-developing partnership with automakers is a welcome - and overdue reset. Many semiconductor executives point the finger at automakers’ lack of understanding of how the chip supply chain works – and an unwillingness to share cost and risk - for a large part of the recent crisis.The costly changes are coming together just as the auto industry appears to be moving past the worst of an even more costly crisis that by one estimate has cut 13 million vehicles from global production since the start of 2021.THEY NEVER CALLEDC.C. Wei, chief executive of the world’s biggest chipmaker Taiwan Semiconductor Manufacturing Co (2330.TW), said he had never had an auto industry executive call him - until the shortage was desperate.“In the past two years they call me and behave like my best friend,” he told a laughing crowd of TSMC partners and customers in Silicon Valley recently. One automaker called to urgently request 25 wafers, said Wei, who is used to fielding orders for 25,000 wafers. “No wonder you cannot get the support.”Thomas Caulfield, GlobalFoundries Inc (GFS.O) chief executive, said the auto industry understands it can no longer leave the risk of building multibillion-dollar chip factories to chipmakers.“You can't have one element of the industry carry the water for the rest of the industry,” he told Reuters. “We will not put capacity on unless that customer is committed to it, and they have a state of ownership in that capacity.”Ford has announced it will work with GlobalFoundries to secure its supply of chips. Mike Hogan, who heads GlobalFoundries’ automotive business, said more deals like that are in the pipeline with other car makers.SkyWater Technology Inc (SKYT.O), a chip manufacturer in Minnesota, is talking to automakers about putting “skin in the game” by buying equipment or paying for research and development, Chief Executive Thomas Sonderman told Reuters.Working closer with carmakers and their suppliers has brought onsemi (ON.O) $4 billion in long-term agreements for power management chips made from silicon carbide, a new material gaining popularity, said Chief Executive Hassane El-Khoury. “We're making billions of dollars of investment every year in order to scale that operation,” he told Reuters. “We're not going to build factories on hope.”Michael Hurlston, the CEO of Synaptics Inc (SYNA.O), whose chips drive touch screens, which had held up some auto production, said the recent, more direct collaboration with automakers could create new business opportunities as well as managing risks.Hurlston said the automotive industry has warmed up to using OLED screens, which are less durable than the LCD screens, a factor that many perceived would limit their use in cars despite better contrast and lower power consumption.“But that perception has changed pretty dramatically over the last two years. And that perception has changed as a direct result of us being able to talk to (the auto industry),” he said. “The paradigm has really, really shifted for us.”Chief executives of Japan’s Renesas Electronics Corp (6723.T) and Dutch NXP Semiconductors N.V. (NXPI.O) have both told Reuters they are co-locating engineers to help automakers design a new architecture where one computer would centrally control all functions.“They have woken up,” said NXP CEO Kurt Sievers. “They have understood what it takes. They try to find the right talent. It’s a big shift.”‘WE HAVE UNDERSTOOD’The average semiconductor content per vehicle will exceed $1,000 by 2026, doubling from the first year of the pandemic, according to Gartner. One example: the battery-powered Porsche Taycan has over 8,000 chips. That will double or triple by the end of the decade, according to Volkswagen.“We have understood that we are a part of the semiconductor industry,” said Volkswagen Group’s Berthold Hellenthal, a senior manager for semiconductor management. “We have now people dedicated just to strategic semiconductor management.”Securing – and keeping – chip engineers will be a challenge for automakers, which will have to compete against the likes of Alphabet Inc's (GOOGL.O) Google, Amazon.com Inc (AMZN.O) and Apple Inc (AAPL.O), said Evangelos Simoudis, a Silicon Valley venture capital investor and adviser who works with both established automakers and startups. “I think that that would lead to acquisitions,” he said.Unlike Tesla Inc (TSLA.O), which designs its own core chips, Simoudis said traditional automakers will have to juggle production of legacy auto models as they make new investments.AutoForecast Solutions (AFS) estimates that microchip shortages have forced automakers around the world to cut over 13 million vehicles from production plans since the start of 2021.""It's an arrogant industry,"" said Sam Fiorani, vice president of global vehicle forecasting at AFS. “Sometimes it just bites them in the rear.”Register now for FREE unlimited access to Reuters.comReporting by Jane Lanhee Lee in Oakland, Calif., Sarah Wu in Taipei and Kevin Krolicki in Detroit
Additional reporting by Tim Kelly in Tokyo and Victoria Waldersee in Berlin
Editing by Kevin Krolicki and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Chip makers have a message for car makers: Your turn to pay.
"A general view of the sky above the United States Capitol dome in Washington, U.S., June 21, 2022. REUTERS/Mary F. CalvertRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - A $430 billion drug pricing, energy and tax bill that Democrats hope to fast-track through the U.S. Senate would decrease the federal deficit by a net $101.5 billion over the next decade, the nonpartisan Congressional Budget Office said on Wednesday.The official CBO forecast is only about one-third of the $300 billion in deficit reduction predicted by Senate Democrats. The CBO estimate did not include a $204 billion tax revenue gain expected from increased Internal Revenue Service enforcement, due to congressional guidelines.The bill known as the Inflation Reduction Act, introduced last week by Senate Majority Leader Chuck Schumer and Democratic Senator Joe Manchin, represents a key priority for Democrats and President Joe Biden ahead of November's election battle for control of the U.S. Congress.Register now for FREE unlimited access to Reuters.comWith the 100-seat Senate split 50-50, Democrats plan to pass the bill without Republican support through a parliamentary process known as reconciliation.But they cannot afford to lose support from a single lawmaker and one Democrat, Senator Kyrsten Sinema, has not voiced her position on the bill.Lawmakers are also waiting to hear whether a legislative referee known as the Senate parliamentarian will accept the entire bill as part of the reconciliation process.With Democrats facing headwinds over inflation and Biden's low job approval numbers, Senate Democrats insist that the bill's deficit reduction effect will help ease inflationary pressures while reducing carbon emissions, lowering prescription drug prices and hiking taxes on wealthy corporations.""America is on our side. They want us to pass this bill,"" Schumer said on the Senate floor ahead of the CBO report, citing polling data showing strong public support for the bill and backing from a bipartisan group of former U.S. Treasury secretaries.The former Treasury secretaries said the bill was ""financed by prudent tax policy that will collect more from top earners and large corporations,"" echoing comments from current Treasury Secretary Janet Yellen read more Republicans have rejected Democratic claims that the bill would reduce inflation.""The only things their 'Inflation Reduction Plan' will reduce is American jobs, wages, after-tax incomes, energy affordability and new life-saving medicines,"" Senate Republican leader Mitch McConnell said this week.The CBO said the bill would cut the deficit by $17.9 billion in fiscal 2023, but would increase deficits somewhat from fiscal 2024 though 2027, while cutting deficits again from 2028, with a $42.6 billion deficit reduction in 2031.Register now for FREE unlimited access to Reuters.comReporting by David Morgan, David Lawder and Eric Beech in Washington; Editing by Cynthia Osterman, Matthew Lewis and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.","U.S. Senate climate, drug bill estimated to cut 10-year deficit by $101.5 bln."
"U.S. August 3, 2022 / 6:11 PM / CBS News Beyoncé drops new album Beyoncé drops seventh solo album, ""Renaissance"" 04:14 Shortly after the release of Beyoncé's highly-anticipated seventh studio album ""Renaissance,"" the singer agreed to change one of the lyrics in the song ""Heated,"" after fans called out the word ""spaz"" for being ableist and offensive to those in the disabled community with cerebral palsy.Now, activist and TV personality Monica Lewinsky is requesting the Grammy-winning superstar adjust another lyric from a 2013 song.In a tweet Monday, which cited the ""Heated"" lyric change, Lewsinky wrote: ""uhmm, while we're at it… #Partition."" — Monica Lewinsky (she/her) (@MonicaLewinsky) August 1, 2022 Lewinsky had an affair in the 1990s with then-President Bill Clinton while she was a White House intern. The sex scandal captivated the media, exploded in the cultural zeitgeist, and eventually lead to Clinton being impeached in the House.  In Beyoncé's 2013 song ""Partition,"" from her self-titled fifth studio album, she sings: ""He bucked all my buttons, he ripped my blouse. He Monica Lewinski'd all on my gown."" Lewinsky has referenced the Beyoncé lyric before, in both her Twitter bio, referring to herself as a ""rap song muse,"" and in a 2014 interview with Vanity Fair, in which she wrote about the affair for the first time in a decade, saying, ""Thanks, Beyoncé, but if we're verbing, I think you meant 'Bill Clinton'd all on my gown,' not 'Monica Lewinsky'd.'"" When one Twitter user asked Lewinsky why she maintains the reference to a ""rap song muse"" in her bio, Lewinsky responded: ""because learning to laugh about things which hurt or humiliated me is how i survived."" because learning to laugh about things which hurt or humiliated me is how i survived.— Monica Lewinsky (she/her) (@MonicaLewinsky) August 3, 2022 Lewinsky said she has not officially reached out to Beyoncé, and the singer's representatives have not made any statements so far about the lyric.  no, i haven’t. i did mention it in the first vanity fair article i wrote in 2014… which was the first public thing i’d done in 10 years. but you make an interesting/fair point…— Monica Lewinsky (she/her) (@MonicaLewinsky) August 2, 2022 In: Bill Clinton Helen Ray Helen Ray is a social media manager for CBS News. She is also a digital reporter focusing on culture and technology. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Monica Lewinsky wants Beyoncé lyric about her changed in ""Partition""."
"An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 2, 2020. REUTERS/Tom Brenner/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. Justice Department plans to file a motion to dismiss a Texas lawsuit challenging guidance from the U.S. Health and Human Services Department on an emergency care law know as EMTALA, U.S. Attorney General Merrick Garland said on Wednesday.Register now for FREE unlimited access to Reuters.comReporting by Alexandra Alper; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.",U.S. Justice to seek to dismiss Texas lawsuit against guidance on emergency care law.
"21 July 2022, Bavaria, Essenbach: Water vapor rises behind sunflowers from the cooling system of the nuclear power plant (NPP) Isar 2.Picture Alliance | Picture Alliance | Getty ImagesNuclear energy is at an inflection point. Early exuberance about its potential was undercut by a series of devastating and dangerous accidents at Three Mile Island in in Pennsylvania in 1979, Chornobyl in Ukraine in 1986 and Fukushima Daiichi in Japan in 2011. But now, thanks to new nuclear technology and the increasingly urgent need to fight climate change, nuclear energy is getting a second shot at becoming a prominent part of the global energy grid. That's because nuclear energy generation does not create any of the dangerous greenhouse gas emissions that cause climate change.In a panel discussion at the United Nations on Tuesday, a collection of nuclear energy leaders from around the world gathered to discuss the scope of that renaissance and why it's so critical that the industry work together to ensure gold-standard safety measures are adopted everywhere.A nuclear accident anywhere has the potential to upset the most major momentum the nuclear industry has had in decades. $1 trillion in expected global demandU.S. Secretary of Energy Jennifer M. Granholm said that nuclear energy represents 20% of the United States' baseload power, and 50% of its no-carbon-emissions power. ""And that's just from the fleet that we have today without the other additions that we are hoping to see.""Future nuclear reactors and plants will almost certainly use different technology from the current standard, as both U.S. labs and private companies are funding research into more efficient reactors that are cheaper to build and generate less waste. Granholm mentioned, as an example, the advanced nuclear reactor Bill Gates' nuclear innovation company TerraPower is installing in a former coal town in Wyoming.Demand for advanced nuclear reactors will be worth about $1 trillion globally, Granholm said, according to an estimate from the Department of Energy. That includes jobs building those reactors and all the associated supply chains that will need to ramp up to support that industry, Granholm said. ""Bottom line is spreading advanced nuclear energy is a priority for us,"" Granholm said. ""Of course, these technologies all have to begin and end with nuclear safety and security.""The change in sentiment surrounding nuclear energy has happed quite quickly, said Rafael Grossi, the director general of the International Atomic Energy Agency.A photograph shows dogs passing by a Ferris wheel in background in the ghost town of Pripyat near the Chornobyl Nuclear Power Plant on May 29, 2022, amid the Russian invasion of Ukraine.Dimitar Dilkoff | AFP | Getty Images""Until just a few years ago, nuclear would not be present, and perhaps not even welcome"" at the annual COP conferences, which stands for ""Conference of the Parties"" and is an opportunity for country leaders to meet and discuss climate change. ""The IAEA has moved quite fast from almost an intruder into a very welcomed participant in this dialogue where nuclear has a place.""The next COP conference will be in Sharm el-Sheikh, Egypt, in November, and the one after that will be in Dubai Expo City in the United Arab Emirates. The IAEA is planning to be part of both of these coming conferences. ""The mere fact that we are talking about COPs with nuclear in Egypt, and in the Gulf, in and by itself is telling you a lot of what is happening and how we are changing and the possibilities that we have and that could have been almost unforeseeable just a few years ago.""Safety firstBut if nuclear is to continue to be a part of these climate change conferences and conversations, the entire international community has to work together to adhere to strict safety and non-proliferation standards.""Nobody's buying a car today if it gets into an accident every day. So safety and security that an application is the foundation for successful deployment of nuclear energy,"" said Hamad Al Kaabi, the United Arab Emirates' representative to the IAEA, on Tuesday.""The issue how nuclear industry works and is perceived globally, any accident anywhere is an accident everywhere,"" Al Kaabi said. The UAE has three nuclear reactors in operation and a fourth reactor in the final stages of commissioning, Al Kaabi said. But building nuclear plants takes time, and the process in the UAE started approximately 13 years ago.Vietnam has been considering nuclear power for decades now, according to the World Nuclear Association, an international trade group. The country announced a plan to build a nuclear power plant back in 2006, but put those plans on hold in 2016, partly because of the expense. Then, in March of this year, Vietnam published an official draft energy proposal that includes small modular nuclear reactors.The United States and the IAEA have both helped guide Vietnam in its efforts to include nuclear energy in its national energy plan, Ha Kim Ngoc, Vietnam's Deputy Foreign Minister, said in Tuesday's event. For a country like Vietnam, which has relatively small amount of land, the small footprint that nuclear energy reactors take compared with the amount of energy they produce make it an appealing option, Ngoc said.South Africa has two reactors, according to the World Nuclear Association, and now other countries in Africa are interested in deploying nuclear energy. ""Most of the countries where I come from in Africa have very small grids,"" Collins Juma, the Republic of Kenya's Nuclear Power and Energy Agency chief executive officer, said on Tuesday. Advanced nuclear reactor designs, especially small modular reactors are interesting to African countries, though Juma did also hint that paying for nuclear reactors might be hard for some African countries. ""I'm not sure about the cost, but we shall be discussing that in other forums,"" Juma said.As Africa works to decarbonize, nuclear is a critical baseload corollary to wind, solar and geothermal in the continent. But bringing nuclear energy to Africa will require independent and strong regulation to convince people it is safe. ""Nuclear is a very emotive topic,"" Juma said. And it's one where ""everyone is an expert"" and thinks they know it is dangerous. ""We have to be very careful when we are developing a nuclear power plan. And the public, especially the public, have to have confidence"" that the nuclear energy plant is safe, Juma said.So Juma asked for guidance from leading nuclear powers and organizations. ""When you copy, you only copy from the best, you don't copy from the worst,"" Juma said.For countries that are interested in building nuclear power reactors, IAEA has written an actual guidebook, ""Milestones in the Development of a National Infrastructure for Nuclear Power,"" and that's a good place for countries to start, Grossi recommended.""The moment is serious, and we know it is red alert for Planet Earth,"" Grossi said. ""We have been saying this, but nuclear is not for a few, nuclear can be for the many.""","Nuclear power is on the brink of a $1 trillion resurgence, but one accident anywhere would stop that momentum."
"Traders react on the floor of the New York Stock Exchange (NYSE) as a screen shows Federal Reserve Board Chairman Jerome Powell during a news conference following a Fed rate announcement, in New York City, July 27, 2022.Brendan Mcdermid | ReutersStock futures inched downward Wednesday evening after the major averages snapped a two-day slide, after robust earnings and stronger economic reports for June and July helped investors ignore the possibility of a recession .Futures tied to the Dow Jones Industrial Average fell 23 points or 0.07%. S&P 500 futures slipped by 0.1% and Nasdaq 100 futures lost 0.2%.In regular hours trading, all three major averages ended the day on higher. The Dow advanced by more than 400 points, while the S&P 500 hit its highest level since June. The tech-heavy Nasdaq Composite jumped about 2.5%.Investors got the green light to jump back into beaten up tech names after a surprise rebound in July services PMI and comments from St. Louis Federal Reserve President James Bullard. Bullard said he does not think the U.S. is in a recession, citing job gains and low unemployment.""U.S.-China tensions remain high and the Fed continues to talk tough on inflation, but earnings were enough to catalyze the next leg of the rebound,"" according to Barclays. ""A wave of Tech quarterlies came in better than expected, and the [technology, media and entertainment, and telecommunications] complex led the S&P 500 to a new QTD high.""Investors will get another batch of earnings on Thursday. Eli Lilly, Kellogg, Alibaba and ConocoPhillips are among those scheduled to report quarterly results before the bell.In economic data, investors are looking forward to weekly jobless claims in the morning. Federal Reserve Bank of Cleveland President Loretta Mester speaking at speaks at the Economic Club of Pittsburgh.",Stock futures fall slightly following 400-point rally in the Dow.
"Commonwealth Games - Athletics - Women's 10,000m - Final - Alexander Stadium, Birmingham, Britain - August 3, 2022 Scotland's Eilish Mccolgan celebrates after winning the Women's 10,000m REUTERS/John SibleyRegister now for FREE unlimited access to Reuters.comBIRMINGHAM, England, Aug 3 (Reuters) - Scotland's Eilish McColgan followed in her mother’s footsteps when she won the Commonwealth Games 10,000m title in gritty style on Wednesday, battling past Kenyan Irene Cheptai for an emotional victory in a Games record time.Liz McColgan won the same title in 1986 and 1990 – as well as the world title in 1991 – and Eilish has now written her own script after a series of big-event near-misses.She set a strong early pace on Wednesday and was eventually left alone with Cheptai for the final four laps before gritting her teeth to surge clear over the last 150 metres and win in 30 minutes 48.60 seconds.Register now for FREE unlimited access to Reuters.comKenya’s Sheila Kiprotich took a brave bronze after appearing to suffer an injury with more than a mile to go but limping on to finish clear of Uganda’s defending champion Stella Chesang.McColgan struggled in last month’s world championships following a bout of illness but arrived in Birmingham finally fully fit.""It's just been such an up and down year with COVID, another illness and a couple of other niggles,” she said.“Having my family here was great and the crowd on the last 200m it was vibrating through my body. I have never sprinted like that in my life and without the crowd I could never have done that.""This is my third Commonwealth Games and my fourth (different) event so I finally found an event. I came sixth every time so to win it tonight was so special. You could see I wanted gold.""Mother Liz added: “To witness your daughter win in the same event is incredible - she just ran the race I knew she was capable of running.""Hot favourite Katarina Johnson-Thompson of England retained the heptathlon title ahead Northern Ireland's Kate O'Connor and England's Jane O'Dowda.The women's and men's 100 metres finals are being held later on Wednesday.Register now for FREE unlimited access to Reuters.comReporting by Mitch Phillips, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.","McColgan takes 10,000m gold to complete family hat-trick."
"Former German Chancellor Gerhard Schroeder is pictured during an interview with Reuters in his office in Berlin, Germany, November 15, 2018. Picture taken November 15, 2018. REUTERS/Fabrizio Bensch/File PhotoRegister now for FREE unlimited access to Reuters.comKYIV, Aug 3 (Reuters) - Ukrainian President Volodymyr Zelenskiy on Wednesday branded as ""disgusting"" the behaviour of ex-German chancellor Gerhard Schroeder,who said Russia wanted a ""negotiated solution"" to the war.Schroeder, who is a friend of President Vladimir Putin, said he met the Kremlin leader last week, adding there was even the possibility of slowly reaching a cease-fire. read more ""It is simply disgusting when former leaders of major states with European values work for Russia, which is at war against these values,"" Zelenskiy said in a late-night video address.Presidential adviser Mykhailo Podolyak earlier dismissed Schroeder as a ""voice of the Russian royal court"" and said any negotiated peace settlement with Moscow would be contingent on a ceasefire and the withdrawal of Russian troops.Register now for FREE unlimited access to Reuters.comReporting by Max Hunder and David Ljunggren; editing by David Evans and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.",Ukraine's Zelenskiy says Schroeder's actions are 'disgusting'.
"Crime August 3, 2022 / 5:34 PM / CBS/AP A judge dismissed state gun charges Wednesday after new federal charges were filed against two men who local police previously alleged planned a Fourth of July mass shooting in Virginia's capital of Richmond. Neither man has been charged specifically with planning a mass shooting, however.Julio Alvarado-Dubon and Rolman Balcarcel-Bavagas, both Guatemalan immigrants, were charged in state court last month with possession of a firearm by a non-U.S. citizen. Richmond police held a news conference at the time to announce that they had thwarted a July Fourth mass shooting planned by the men. The news conference was held just two days after a deadly mass shooting on the holiday in a Chicago suburb. Richmond Police Chief Gerald Smith said then that a ""hero citizen"" contacted police after overhearing a conversation indicating there was an attack being planned on an Independence Day celebration in Richmond. The caller said the attack was planned for the Dogwood Dell Amphitheater, where an annual fireworks show is held, Smith said.Richmond Commonwealth's Attorney Colette McEachin said Wednesday that her office asked federal authorities to take over the case. ""These are two illegal aliens with guns so we wanted them prosecuted at the highest level possible,"" McEachin said.Alvarado-Dubon was charged Tuesday in federal court with possession of a firearm by a non-U.S. citizen. An affidavit filed in support of the criminal complaint against Alvarado-Dubon said he last entered the U.S. in 2014 and had overstayed his visa by more than seven years. His attorney, Jose Aponte, said he is scheduled to be arraigned Friday in U.S. District Court. Aponte declined to comment on the case.Balcarcel-Bavagas was charged in a federal criminal complaint with entering the U.S. illegally. His attorney, Samuel Simpson V, did not immediately respond to a call seeking comment. An affidavit written by an Immigration and Customs Enforcement agent said Balcarcel-Bavagas was deported twice previously — in 2013 and 2014 — and re-entered the U.S. illegally.During a hearing in Richmond General District Court Wednesday, Judge David Hicks asked a state prosecutor if there was any evidence that the mass shooting was planned for Dogwood Dell, the location Smith had cited. Assistant Commonwealth's Attorney Clint Seal said there was evidence of a planned shooting, but not at a specific location.Hicks said he raised the issue because two of his sons were at Dogwood Dell on July Fourth. He said if there was evidence the shooting was planned for that location, he would have a conflict of interest and would need to recuse himself from the case.No details about the alleged shooting plot have been included in documents filed in state or federal court, and police have not revealed any motive.Richmond police issued a statement Wednesday saying Smith ""stands behind the investigative work done by Richmond Police Detectives to stop a mass shooting planned for July 4th.""A search warrant affidavit filed in state court said that after police received the tip, they contacted Homeland Security, then went to a home in Richmond, where police said both men lived. Officers seized two assault rifles, a handgun and hundreds of rounds of ammunition. In: Immigration Crime Richmond Virginia Shootings Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Feds file charges against 2 men previously accused of planning July 4 mass shooting.
"FILE PHOTO - The logo of Argentine online marketplace MercadoLibre is seen in this undated handout illustration distributed to Reuters on July 27, 2022. Mercado Libre/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSAO PAULO, Aug 3 (Reuters) - South American e-commerce giant MercadoLibre Inc (MELI.O) reported on Wednesday that its second-quarter net income rose 79.8% year-on-year, beating earnings forecasts.The company's net income for the three-month period was $123 million, beating a Refinitiv forecast of $98.9 million.The company's net revenue rose 56.5% in constant currency and 52.5% in dollars to $2.6 billion as it registered growth in revenues from its commerce and fintech sectors.Register now for FREE unlimited access to Reuters.comThe group's financial arm, Mercado Pago, saw net revenue soar 112.5% ​​in dollars year-on-year to $1.2 billion, as it expanded its lines of business, such as insurance and investment tools.Mercado Pago reported a 83.9% jump in total payment volume in constant currency to $30.2 billion. Its credit portfolio reached $2.7 billion in the quarter, a 12.5% increase in comparison to the previous quarter.The company, present in 18 countries including Brazil, Mexico and Colombia, said unique active users rose 11% versus last year to a total of 84.3 million.Its gross merchandise volume (GMV), a widely watched figure for the e-commerce industry's performance, rose 21.8% in dollars and 26.2% in constant currency from a year earlier to $8.6 billion.Register now for FREE unlimited access to Reuters.comReporting by Aluisio Alves; Writing by Carolina Pulice; Editing by Jonathan Oatis and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.","Latam's MercadoLibre profits soars, boosted by fintech division."
"Jul 15, 2022; St. Andrews, SCT; Phil Mickelson tees off on the 17th hole during the second round of the 150th Open Championship golf tournament at St. Andrews Old Course. Mandatory Credit: Rob Schumacher-USA TODAY SportsRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - Phil Mickelson and 10 other golfers sued the PGA Tour over its decision to suspend them for playing the new LIV Golf circuit, according to an antitrust filing on Wednesday that revealed the Hall of Famer cannot apply for reinstatement until 2024.The lawsuit was led by six-time major champion Mickelson and includes 2020 U.S. Open winner Bryson DeChambeau, European Ryder Cup veteran Ian Poulter, Talor Gooch, Hudson Swafford and Matt Jones, among others.""As part of its carefully orchestrated plan to defeat competition, the Tour has threatened lifetime bans on players who play in even a single LIV Golf event,"" the golfers said in the complaint.Register now for FREE unlimited access to Reuters.comThey asked the court to declare the punishments illegal and to award damages and attorneys fees.In a letter to players, the PGA Tour acknowledged that the 11 golfers had been suspended and indicated that the Tour was not inclined to back down.""These suspended players – who are now Saudi Golf League employees – have walked away from the TOUR and now want back in,"" Commissioner Jay Monahan wrote in a letter to members. ""We intend to make our case clearly and vigorously.""In July, news broke that the U.S. Justice Department was investigating whether the PGA Tour broke antitrust law in fending off the LIV Golf circuit. read more The $255 million LIV series is being bankrolled by Saudi Arabia's Public Investment Fund (PIF), which critics say is a vehicle for the country to improve its image in the face of criticism of its human rights record.The lawsuit also shed light on the status of fan favourite Mickelson, who had taken a self-imposed hiatus in February when excerpts from an unauthorised biography on him revealed that he called the Saudis ""scary"" but that he would look past their human rights records to gain leverage with the PGA Tour.According to the lawsuit, Mickelson was suspended by the PGA Tour in March for, among other alleged reasons, trying to recruit players to LIV Golf and that his appeal was denied.Mickelson applied for reinstatement in June, the lawsuit says, but that request was denied given his participation in the inaugural LIV event earlier that month.In addition to denying Mickelson's request, the lawsuit said the golfer was forbidden from seeking reinstatement until March 2023, which was then extended until March 2024 after he played the second LIV event.Mickelson's ban was only announced in June, shortly after he teed off in the first LIV event, when the PGA Tour announced its decision to suspend all members who joined the lucrative series and said anyone else who made the jump would face the same fate.Register now for FREE unlimited access to Reuters.comReporting by Diane Bartz; Additional reporting by Frank Pingue in Toronto; Editing by Christian Radnedge and Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.","Mickelson, other golf pros sue PGA Tour in LIV fight."
"Politics Updated on: August 3, 2022 / 3:23 PM / CBS News Kansas votes to protect abortion rights Kansas votes to keep abortion rights protected by state constitution 02:43 In a reliably conservative state, a state where then-President Donald Trump won in 2020 by 15 points over Joe Biden, an amendment that would deny women the right to an abortion under the state constitution was soundly defeated on Tuesday, delivering a striking victory to supporters of abortion access. The results in Kansas delivered an electric shock to conventional wisdom about the midterms and signaled abortion rights could be front and center as voters head to the polls in November.The ""Value Them Both"" amendment that appeared on the Aug. 2 Kansas primary ballot would have removed the state constitutional right to an abortion in Kansas, paving the way for Republican lawmakers to pass legislation that could further restrict or even ban abortion in the state. It was the first time abortion rights were directly on the ballot since the Supreme Court overturned the landmark abortion law Roe v. Wade, leaving it up to states whether abortion would remain legal. As it currently stands, 59% of Kansas voters cast a ballot to keep the right to an abortion constitutionally protected in the state, according to the preliminary results from the secretary of state's office. Only 41% voted to remove that constitutional protection. In this photo from Thursday, July 14, 2022, a sign in a yard in Merriam, Kansas, urges voters to oppose a proposed amendment to the Kansas Constitution to allow legislators to further restrict or ban abortion. Opponents of the measure believe it will lead to a ban on abortion in Kansas. John Hanna / AP ""We really did build a coalition of partners that was broad and diverse and spanned the political spectrum,"" said Ashley All, a spokesperson for Kansans for Constitutional Freedom, which led efforts to reject the amendment. Working with an array of organizations and local groups, they knocked on tens of thousands of doors and made hundreds of thousands of calls. She noted that they were able to engage on the issue in a nonpartisan conversation. ""It comes down to a personal decision, and that also was key in our messaging."" While analysis of who showed up is underway, putting abortion on the ballot in Kansas resulted in a massive turnout of voters exceeding any other Kansas primary. The numbers more closely resembled that of a presidential election. According to unofficial results, more than 908,000 people voted in the primary on the issue. Tens of thousands of people who weighed in on the amendment didn't even vote for other statewide offices or in congressional primaries.Recent turnout in midterm and presidential primaries in the state have hovered around the 20-35% range. Turnout on Tuesday appeared to be closer to 50%. By comparison, only 457,598 voted in the 2018 midterm primary. The results Tuesday even beat out every single midterm general election turnout, apart from 2018 where just over 1 million Kansans voted. It's even more significant when critics of the amendment accused Republican lawmakers of choosing to put the measure on the primary ballot with the assumption it would be more likely to pass with traditionally lower primary turnout. While the Aug. 2 primary did not surpass the state's November 2020 presidential election turnout, where more than 1.3 million people voted, those voting against removing abortion rights did better than Joe Biden did in counties across the state – not just in cities and suburbs, but also in rural areas.In 2020, Mr. Biden won just five of the 105 Kansas counties. On the abortion issue, those opposing the amendment — and favoring abortion rights — prevailed in 19 counties. In all five counties Mr. Biden won, voters against the amendment outperformed him by double digits. Majorities in counties including Sedgwick, which houses Wichita, and surrounding areas where Trump won, also voted no on the amendment.  In some of the counties where Trump had his widest margins in 2020, those supporting the amendment – that is, opposing abortion rights — underperformed by double digits.While turnout exploded for the primary, voter registration also surged ahead of the election following the overturning of Roe v. Wade, which left it to states to decide abortion access. Republicans have a massive registration advantage over Democrats in Kansas. There are more than 851,000 registered Republicans in the state compared to just over 495,000 Democrats. More than 560,000 voters are unaffiliated. As part of the effort to defeat the amendment, organizers specifically worked to target moderate Republicans, particularly in the suburbs, to help build their winning coalition. At the same time, following the decision in Dobbs v. Jackson Women's Health Organization, voter registrations also surged in the state. Vote.org reported a more than 960% increase in individuals starting the voter registration process through the organization's website from the two weeks before the court's June 24 decision. ""When you have an election where almost a million people vote, new registrants in the last month aren't by themselves going to have decisive effect,"" said Tom Bonier, CEO of TargetSmart, a political data firm. ""But the reason why I think it's relevant is it gives us a sense of where the intensity lies, who was actually engaged by this election.""  Bonier found that women accounted for 70% of all new registered voters in the state since June 24, a number he has never seen before. When he looked at the 2020 election, he found the registrations based on gender were pretty evenly split.  ""It just doesn't happen,"" Bonier said. Data from the Kansas secretary of state's office showed Democrats had a greater number of voters registering than Republicans surrounding the June 24 decision. Even more registered as unaffiliated voters. Engaging with unaffiliated voters was a critical part of the strategy for those fighting against the amendment. The group Kansans for Constitutional Freedom, was founded especially for the abortion vote, and its approach has, from the outset, looked beyond traditional liberal voters. Ccampaign manager Rachel Sweet said, ""I think there's a lot more data that comes out about what exactly the KCF voting coalition looked like, but we decided to communicate with unaffiliated voters just like we would any other voter in the state.""The coalition believes the outcome of the vote is unique for multiple reasons. But it plans to continue the fight to protect abortion access in Kansas. Members of the group have  also already been talking with like-minded organizations in other states where abortion measures are on the ballot. In: Supreme Court of the United States Roe v. Wade Abortion Elections Kansas Sarah Ewall-Wice CBS News reporter covering economic policy. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",How the anti-abortion amendment was defeated in Kansas.
"1,173 episodes Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to deliver the actionable news that matters most to investors. Fast Money airs weeknights at 5p ET on CNBC. Visit http://fastmoney.cnbc.com for additional information. Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to deliver the actionable news that matters most to investors. Fast Money airs weeknights at 5p ET on CNBC. Visit http://fastmoney.cnbc.com for additional information. AUG 1, 2022 The Biggest Risk to the Market? One of Our Traders Says It’s *NO* Recession 8/01/22 The Biggest Risk to the Market? One of Our Traders Says It’s *NO* Recession 8/01/22 Markets have already priced in a recession, but what happens if we don’t get one? Will we get a more aggressive Fed down the road? Our traders break down the possibilities. Plus earnings from Pinterest and Simon Property, and a potentially historic trip for House Speaker Nancy Pelosi. JUL 29, 2022 Stocks Round Out Best Month Since 2020, But Can the Momentum Continue 7/29/22 Stocks Round Out Best Month Since 2020, But Can the Momentum Continue 7/29/22 The S&P jumped more than 9% in July, the Nasdaq up over 12%, and some individual stocks saw gains much bigger than that. So with Big Tech earnings and the Fed now behind us, can the momentum continue in August? Plus a look at some of the names that didn’t fare so well recently, and breaking down next week’s big earnings reports. JUL 28, 2022 Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22 Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22 Two of the biggest companies in the world reported earnings after the bell. The traders break down what the reports say about the consumer, the economy and inflation. Plus U.S. GDP fell for a second straight quarter. Whether that amounts to a recession or not, it’s having a big impact on the stock markets. We dive into how to play the moves. JUL 27, 2022 All Eyes on Meta, Ford and the Fed 7/27/22 All Eyes on Meta, Ford and the Fed 7/27/22 Shares of Meta and Ford both on the move after the companies’ latest earnings reports. We break down the numbers and bring you all the trades. Plus the Fed raised rates and by 75 basis points for the second straight meeting, but said the pace of rate hikes could slow. That sent stocks higher, and gave the Nasdaq its best day since April 2020. Was that the green light for the growth trade? JUL 26, 2022 : Big Tech Earnings Week Gets Underway with Alphabet and Microsoft 7/26/22 : Big Tech Earnings Week Gets Underway with Alphabet and Microsoft 7/26/22 The busiest week of Q2 earnings season kicks off with reports from two of the biggest names in tech. We break down the results at get a look at what you should expect from the names still to come. Plus, the Fed expected to raise rates by another 75 basis points tomorrow, as the Biden administration tries to shoot down talk of a recession. What it all means for the markets. Customer Reviews 3.9 out of 5 1.1K Ratings Great if you miss the show I listen to this and Half-Time Report regularly. Melisa Lee is great. I think she is very good at facilitating. Can you please upload your episodes in a timely fashion like Mad Money or Half Time does? As title shows Guest Guy is so rude Show director should correct Guy Dami’s behavior! Or just remove him out!!! Stop letting him bullying host Mel! So arrogant! Again and again! Plus, he is always wrong and useless! Let’s just remove him out! Let’s see if CNBC needs him or he relies on CNBC! Who does he think he is! Too Ugly behavior on TV! Top Podcasts In Business You Might Also Like More by CNBC","‎CNBC's ""Fast Money"" on Apple Podcasts."
"The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021.Dado Ruvic | ReutersThink the meme stock mania is so 2021? Just take a look at AMTD Digital.The little-known Hong Kong-based fintech company saw its shares skyrocket 126% on Tuesday alone after experiencing a series of trading halts. AMTD Digital, a subsidiary of investment holding company AMTD Idea Group, went public in mid-July with its American depositary receipts trading on the NYSE. Two weeks later, the stock is up 21,400% to $1,679 apiece from its IPO price of $7.80.The monstrous move pushed its market cap above $310 billion as of Tuesday, making it bigger than Coca-Cola and Bank of America, according to FactSet. AMTD Digital generates revenue primarily from fees and commissions from its digital financial services business, and it only made $25 million in revenue in 2021, according to a regulatory filing.The wild trading is reminiscent of the GameStop mania of 2021 where a band of Reddit-obsessed retail investors managed to push up shares of the video game retailer and squeeze out short selling hedge funds. Indeed, the ticker HKD became the most popular mention on Reddit's WallStreetBets chat room Tuesday, according to alternative data provider Quiver Quantitative.AMTD Idea Group's ADR was also the single-most actively traded stock on the Fidelity platform Tuesday. The stock has popped nearly 300% this week.The intense speculative behavior among retail investors is unnerving many on Wall Street yet again.""As we've learned over the past two years, events like this cause what I would say is opportunities for profit but great risk for loss particularly for our retail investors,"" Jay Clayton, former SEC chairman, said Wednesday on CNBC's ""Squawk Box.""Famed short seller Jim Chanos took it to Twitter and expressed frustration about the mania.""So we're all just going to ignore the $400B meme stock in the room?"" Chanos said in a tweet. ""We literally had Congressional hearings over the $30B runs of $GME and $AMC, but just [crickets] today.The crazy moves, based on no material news, also shocked the company itself. AMTD Digital issued a ""thank you note"" to investors Tuesday, adding it's monitoring the market closely for any trading abnormalities. ""To our knowledge, there are no material circumstances, events nor other matters relating to our Company's business and operating activities since the IPO date,"" AMTD Digital said in the statement.",The $300 billion meme stock that makes GameStop look like child's play.
"The Boeing logo is seen at their headquarters in Chicago, in this April 24, 2013 photo. REUTERS/Jim Young/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The Federal Aviation Administration's acting chief will meet with FAA safety inspectors in South Carolina on Thursday before determining whether Boeing (BA.N)can resume deliveries of its 787 Dreamliner after production issues prompted the planemaker to stop deliveries in May 2021, an FAA spokesman said.The purpose of acting Administrator Billy Nolen's visit ""is to ensure that the FAA is satisfied that Boeing has taken the appropriate steps to improve manufacturing quality and to guarantee the autonomy of workers who ensure regulatory compliance on the company’s assembly lines,"" the FAA said.On Friday, Reuters reported that the FAA had approved Boeing's inspection and modification plan to resume deliveries of 787 Dreamliners, citing two people briefed on the matter. Deliveries could resume as soon as this month, sources told Reuters. read more The sources, who asked to remain anonymous because it was not yet public, said the FAA had approved Boeing's proposal that requires specific inspections to verify the airplane meets requirements and that all work has been completed.Register now for FREE unlimited access to Reuters.comBoeing suspended deliveries of the 787 after the FAA raised concerns about its proposed inspection method. On July 17, Boeing told reporters it was ""very close"" to restarting 787 deliveries. But before it can resume deliveries, the FAA must still sign off on an airworthiness certification eligibility document.The FAA noted that even when deliveries resume, it ""will inspect each aircraft before issuing an airworthiness certificate. This additional measure of oversight will remain in place until the agency has sufficient data that demonstrates this function can be delegated back to Boeing.""The FAA said Nolen has asked that Boeing officials on Thursday ""provide an update on these programs, as well as the performance of the company's Safety Management System to identify and mitigate risks throughout the manufacturing process.""Boeing said Wednesday it ""will continue to work transparently with the FAA and our customers towards resuming 787 deliveries.” The planemaker has faced production issues with the 787 for more than two years. In September 2020, the FAA said it was ""investigating manufacturing flaws"" in some 787 jetliners.In the aftermath of two fatal 737 MAX crashes in 2018 and 2019, the FAA pledged to more closely scrutinize Boeing and delegate fewer responsibilities to Boeing for aircraft certification.For the 787 Dreamliner, the FAA had issued two airworthiness directives to address production issues for in-service airplanes and identified a new issue in July 2021.The planemaker had only resumed deliveries in March 2021 after a five-month hiatus before halting them again. Friday's approval came after lengthy discussions with the FAA.A plane built for American Airlines (AAL.O) is likely to be the first 787 airplane delivered by Boeing since May 2021, sources said. That could come as soon as next week. American Airlines said last month on an earnings call it expects to receive nine 787s this year, including two in early August.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson; Editing by Leslie Adler and David GregorioOur Standards: The Thomson Reuters Trust Principles.",FAA acting chief to meet inspectors before final Boeing 787 signoff.
"Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Moderna Inc (MRNA.O) on Wednesday maintained its full-year COVID-19 vaccine sales forecast of $21 billion as canceled orders from low- and middle-income nations through the COVAX program offset gains from new booster dose orders.Moderna shares jumped nearly 17% in morning trading after the company also announced a $3 billion share buyback plan.Moderna has begun producing a redesigned booster shot targeting both the original coronavirus as well as the BA.4 and BA.5 Omicron subvariants.Register now for FREE unlimited access to Reuters.comIt signed a $1.74 billion deal with the U.S. government last week for 66 million doses to be available this fall and winter, if cleared by health regulators.Despite the contract, Moderna kept its sales forecast unchanged as doses earmarked for the COVAX vaccine sharing program remain unallocated due to low demand.""It's because of COVAX,"" Chief Executive Stephane Bancel said in an interview. ""COVAX does not want the doses that they have ordered.""Moderna and rival Pfizer Inc have been banking on recurring booster doses, including an Omicron-tailored version, to garner more vaccine contracts with higher-income countries.Empty glass vials of Pfizer Inc's Pfizer/BioNTech COVID-19 vaccine ModernaTX, Inc's Moderna COVID vaccine are seen after being donated by Northwell Health to the collection of the Smithsonian's National Museum of American History in Washington, U.S. March 4, 2021. Jaclyn Nash/National Museum of American History/Handout via REUTERS""We do believe the majority of the market demand is captured in this $21 billion. That being said, we continue to work with countries around the world on potential additional orders,"" said Chief Commercial Officer Arpa Garay.Other countries are considering an earlier version of the booster shot designed to target the BA.1 Omicron variant that led to a record surge in infections last winter, rather than the currently dominant BA.5 or related BA.4.Those shots had been in production already and would be available sooner, Bancel said.""There are plenty of countries around the world that would rather start early - as early as August,"" he added.""Some of those countries have said they would rather start with the BA.1 now and then go to BA.4 later versus just waiting and hoping.""Some countries could authorize the retooled BA.1 boosters within the next few weeks, the CEO said.Moderna reported $4.5 billion in COVID vaccine sales in the second quarter. It took a $499 million charge related to vaccines that have expired.Moderna shares were up 16.7% at $187.60 but are off about 30% for the year to date.Register now for FREE unlimited access to Reuters.comReporting by Manas Mishra in Bengaluru and Michael Erman in New Jersey; Editing by Arun Koyyur and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Moderna COVID vaccine sales forecast unchanged even as COVAX program cuts orders.
"Aug 2 (Reuters) - Republican voters on Tuesday chose a raft of candidates supporting Donald Trump's 2020 election falsehoods in multiple party primaries for the November general election - a stark display of the former president's grip on his party.In Kansas, abortion rights activists celebrated a major victory when voters overwhelmingly rejected a ballot initiative that would have endangered abortion access in the first statewide electoral test since the U.S. Supreme Court overturned Roe v. Wade. read more The Kansas result suggested that anger over the Supreme Court's June decision could help Democrats to galvanize voters at a time when many Americans are blaming Democratic President Joe Biden's administration for soaring gasoline and food prices.Register now for FREE unlimited access to Reuters.comBut Tuesday, one of the biggest midterm primary nights of the year, underscored the continued dominance of Trump among Republicans and widespread support for his false claims that the 2020 election was rigged. It was also a warning for any would-be Republican challengers should he seek the White House again in 2024.In the key battleground state of Arizona, state Representative Mark Finchem won the Republican nomination for secretary of state, a position that would give him enormous sway over the conduct of elections should he prevail against his Democratic opponent in November.Finchem was present at Trump's Jan. 6, 2021, speech in Washington that preceded the attack on the U.S. Capitol by Trump supporters and has continued to assert that the former president won the 2020 election.In Michigan, Tudor Dixon, a conservative commentator who has echoed Trump's election claims, won the Republican nomination for governor and will face Democratic Governor Gretchen Whitmer in one of the most high-profile races this November, which will also revolve around abortion rights.Kansas Attorney General Derek Schmidt, endorsed by Trump, secured the Republican nomination for governor. He will face Democratic Governor Laura Kelly in November in what is expected to be a highly competitive race.Blake Masters, a former tech executive who has backed Trump's false fraud claims, secured the Republican nomination in the Senate race, the Associated Press said, and will face Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents. Masters has Trump's endorsement and the backing of tech billionaire Peter Thiel.One of only 10 House Republicans who voted to impeach Trump following the U.S. Capitol attack, U.S. Representative Peter Meijer of Michigan, lost to far-right challenger John Gibbs.Gibbs, backed by Trump, was the beneficiary of Democratic advertising during the Republican primary, part of a risky and highly controversial strategy to try to elevate more vulnerable Republican candidates in swing districts even as party leaders warn they pose a danger to democracy. read more Another Republican who voted to impeach Trump, Jamie Herrera Beutler of Washington, also faced a Trump-endorsed primary challenger. The results of that race were not expected to be known until later on Wednesday or Thursday.Voter mark their ballots during the primary election and abortion referendum at a Wyandotte County polling station in Kansas City, Kansas, U.S. August 2, 2022. REUTERS/Eric CoxKANSAS VOTEPolitical analysts saw the rejection of the abortion limits ballot initiative as having wider implications for the coming general election.With 95% of the estimated vote counted, just under 60% of Kansas voters had cast ballots in support of the state constitution's abortion protections. Unlike the Republican gubernatorial primaries, Kansas' abortion initiative reflected the choices of voters of both major political parties, as well as independents. read more ""When a total ban looks like a possibility, then you're going to get a lot of people to turn out and you're going to lose a lot of the more moderate supporters of abortion restrictions,"" said Neal Allen, a political science professor at Wichita State University.With Biden's unpopularity weighing on Democrats heading into November's election, party leaders were likely heartened by the Kansas result. Democratic candidates are increasingly coalescing around the abortion issue in some swing districts to fend off challenges by Republicans, who are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.TRUMP ENDORSEMENTSAs he flirts publicly with the possibility of running for president again, Trump has endorsed more than 200 candidates. Most are safe bets - incumbent Republicans in conservative districts - but even in competitive races many of his candidates have prevailed.""Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image,"" said Alex Conant, a Republican strategist. ""Republicans who run against Trump tend to get trampled.""On Tuesday, Arizona voters were picking between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump's election falsehoods and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.Arizona Secretary of State Katie Hobbs, who built a national profile by vociferously denying Trump's allegations, easily won the Democratic gubernatorial nomination, Edison Research projected.In Missouri, Attorney General Eric Schmitt won the Republican nomination for U.S. Senate, boosting his party's chances of holding the seat after scandal-hit former Governor Eric Greitens finished well behind.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Richard Cowan, Kanishka Singh, Eric Beech and Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Writing by Joseph Ax and Ross Colvin, Editing by Scott Malone, Alistair Bell, and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Trump-backed candidates prevail in U.S. midterm primaries.
"A worker assembles the Lucid Air prototype electric vehicle, manufactured by Lucid Motors Inc., at the company's headquarters in Newark, California, on Monday, Aug. 3, 2020.David Paul Morris | Bloomberg | Getty ImagesCheck out the companies making headlines in extended trading.Lucid Group — Shares of the EV maker tumbled about 12% after hours. Lucid cut its full-year production targets for a second time to 6,000. The original forecast was 20,000. The company also reported a quarterly loss of 33 cents per share.Qorvo — Shares of the semiconductor company jumped 7% following strong quarterly results. Earnings and revenue beat estimates for the fiscal first quarter, according to Refinitiv.Booking Holdings — The travel booking site's shares fell more than 3% after the company reported mixed quarterly results. Adjusted earnings of $19.08 per share topped estimates by $1.51, but its revenue came in at $4.29 billion, which missed expectations of $4.32 billion, according to Refinitiv.Ebay — Shares of the e-commerce giant climbed as much as 3% after the company posted top- and bottom-line beats for its most recent quarter. Gross merchandise volume came in at $18.55 billion, which was slightly higher than the StreetAccount estimate.MGM Resorts — The casino stock advanced nearly 2% after the company reported quarterly revenue of $3.26 billion, which was higher than estimates of $3.04 billion. It also set a record for Las Vegas Strip adjusted property EBITDA of $125 million. Clorox — Clorox shares fell 6% after the maker of cleaning products said it expects fiscal year 2023 revenue to be in a range of down 4% to up 2% from fiscal year 2022. Analysts were predicting a 2% gain, according to Refinitiv. It also sees adjusted earnings per share of between $3.85 and $4.22, compared with estimates of $5.26 per share.","Stocks making the biggest moves after hours: Lucid, Booking Holdings, MGM, eBay and more."
"George Washington is seen with printed medical mask on the one Dollar banknotes in this illustration taken, March 31, 2020. REUTERS/Dado RuvicRegister now for FREE unlimited access to Reuters.comSummaryLaw firmsD.C.-based firm represented ViaClean on IP, regulatory mattersCrowell, client agreed to alternative fee arrangement -complaint(Reuters) - Law firm Crowell & Moring has sued former biotech client ViaClean Technologies LLC to recover more than $2.2 million in legal fees, in a lawsuit that alleged the company fell behind last year amid cashflow problems tied to the COVID-19 pandemic.Crowell represented Philadelphia-based ViaClean on regulatory issues and intellectual property disputes from 2020 until earlier this year, according to the firm's complaint filed on July 29 in District of Columbia Superior Court.A judge on Monday set an initial hearing for October.Register now for FREE unlimited access to Reuters.comIn one matter, according to the complaint, a team from Washington, D.C.-based Crowell argued for ViaClean, developer of antimicrobial products, in a patent infringement lawsuit in Texas federal court against a competitor.The firm said ViaClean approved a proposed $3.8 million budget to take the dispute through trial. The case was resolved in the pretrial stages earlier this year but the terms were not disclosed publicly.ViaClean did not immediately respond to messages seeking comment. An attorney had not yet entered an appearance in the case.In its lawsuit, Crowell said it ""complied with all of its obligations"" to ViaClean, and that it ""achieved very favorable resolutions of four significant litigations for ViaClean and successfully completed all other engagements.""Crowell attorneys Clifton Elgarten and George Ruttinger, the firm's deputy general counsel, did not immediately return a message on Wednesday seeking comment.The firm's work for ViaClean also included helping the company respond to inquiries from the U.S. Environmental Protection Agency about pesticide products.ViaClean, according to Crowell, had made timely payments for legal services up until early 2021.Crowell's complaint said the firm entered into an ""alternative fee arrangement"" after ViaClean indicated in February 2021 it was experiencing financial issues stemming from the COVID-19 pandemic.The agreement included a 30% discount from standard hourly rates, and a $25,000 minimum monthly payment to the law firm.""ViaClean fell behind on its minimum monthly payments to Crowell & Moring, and eventually stopped making payments entirely,"" the firm's lawsuit said.The case is Crowell & Moring v. ViaClean Technologies Inc, D.C. Superior Court, Case No. 2022-CA-003345-B.For plaintiff: George Ruttinger and Clifton Elgarten of CrowellFor defendant: No appearance yetRead more:Netflix is owed attorneys' fees from court-hopping patent plaintiff, U.S. court affirmsLaw firm Bartlit Beck wins $50 mln fee in appeal against Japanese billionaireEx-client wants $22 mln from Brown Rudnick, saying lawyers overbilledRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.",Law firm Crowell sues for $2.2 mln in fees after biotech client's COVID shortfall.
"A child looks back at a banner for Roblox, displayed to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comLaw firmsRelated documents(Reuters) - A line of dolls based on Roblox Corp's online gaming avatars violates its copyrights and trademarks, the company said in a lawsuit filed Tuesday in San Francisco federal court.WowWee Group Ltd's ""My Avastars"" dolls unlawfully copy the distinctive blocky designs of player avatars in Roblox's popular game platform, and were not authorized despite WowWee's partnership with an in-game designer, Roblox said.WowWee said in a statement Wednesday that Roblox's allegations are ""completely meritless"" and that it ""looks forward to vigorously defending its position, product, and brand."" The company also said it spent several weeks trying to resolve the dispute without litigation and had ""voluntarily disassociated"" the dolls from Roblox.Register now for FREE unlimited access to Reuters.comRoblox declined to comment on the lawsuit.Roblox is one of the world's most popular online gaming sites and one of the first companies to focus on the metaverse. Its platform allows users to build ""experiences"" like games, events, and virtual places, which they visit with character avatars.Roblox's Monday lawsuit said Hong Kong-based WowWee teamed with one of the most popular experience developers, Gamefam, to create a line of personalized dolls that match player avatars in a role-playing experience called ""My Avastars: RP.""Gamefam is not a defendant in the case, and did not immediately respond to a request for comment.""Observing the centrality of Roblox's avatars to its success, WowWee saw a chance for a quick buck,"" the lawsuit said, and ""chose to exploit Roblox's success — its brand, its reputation, its goodwill, and its intellectual property — without ever involving Roblox.""Roblox also said it already has a deal with another company, Jazwares LLC, to make avatar dolls, and that WowWee never asked for a similar license.The lawsuit accused WowWee of infringing Roblox's copyrights and trademark rights, breaching its terms of use, and falsely advertising that the dolls were affiliated with Roblox. It asked the court to block sales of the dolls and requested an unspecified amount of money damages.The case is Roblox Corp v. WowWee Group Ltd, U.S. District Court for the Northern District of California, No. 3:22-cv-04476.For Roblox: Andrew Gass and Sarah Ray of Latham & WatkinsFor WowWee: not available
(NOTE: This story has been updated with comment from WowWee.)Register now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Blake BrittainThomson ReutersBlake Brittain reports on intellectual property law, including patents, trademarks, copyrights and trade secrets. Reach him at blake.brittain@thomsonreuters.com",Roblox sues tech toymaker WowWee over avatar figurines.
"Politics August 3, 2022 / 2:23 PM / CBS/AP Washington — The Senate was set Wednesday to ratify NATO membership for Finland and Sweden, with overwhelming bipartisan support expected for quickly expanding the Western military alliance in response to Russia's invasion of Ukraine.Senate Minority Leader Mitch McConnell, who visited Kyiv and the region earlier this year, urged a unanimous show of approval. Speaking from the Senate floor, McConnell cited the two Nordic nations' well-funded, modernizing militaries and their experience working with U.S. forces and weapons systems, calling it a ""slam-dunk for national security"" of the United States.""Their accession will make NATO stronger and America more secure. If any senator is looking for a defensible excuse to vote no, I wish them good luck,"" the Senate Republican leader said. Sen. Josh Hawley, a Missouri Republican who often aligns his positions with those of the most ardent supporters of former President Donald Trump, has said he plans to vote against the two nations' NATO membership. Hawley argues the United States should focus on Asia, not Europe.Senators have invited the ambassadors of the countries to witness the debate and vote, which would open a new era for the North Atlantic Treaty Organization. President Biden has sought quick entry for the two previously non-militarily aligned northern European allies, and approval of the ratification resolution has vast bipartisan support in Congress. ""Our NATO alliance is the bedrock that has guaranteed democracy in the Western world since the end of World War II,"" said Senate Majority Leader Chuck Schumer of New York.Schumer said he and McConnell had committed to the country's leaders that the Senate would approve the ratification resolution ""as fast as we could"" to bolster the alliance ""in light of recent Russian aggression.""A late-afternoon vote was expected after debate on the measure and amendments. One amendment from GOP Sen. Rand Paul of Kentucky would ensure that NATO's guarantee to defend its members does not replace a formal role for Congress in authorizing the use of military force. Another from Republican Sen. Dan Sullivan of Alaska would declare that all NATO members should spend a minimum of 2% of their gross domestic product on defense and 20 percent of their defense budgets on ""major equipment, including research and development.""NATO's 30 member countries are in the process of considering the addition after Sweden and Finland set aside their longstanding stance of military nonalignment. It was a major shift of security arrangements for the two countries after neighboring Russia launched its war on Ukraine earlier this year. The U.S. and its European allies have rallied with newfound partnership in the face of Russian President Vladimir Putin's aggression, strengthening the NATO alliance first formed after World War II. Mr. Biden sent the protocols to the Senate for review in July, launching a notably speedy process in the typically divided and slower-moving chamber.Each member country in NATO needs to approve the accession of new members. The process ran into trouble when Turkey raised concerns over adding Sweden and Finland, in part because it views the two countries as soft on banned Turkish Kurdish exile groups. But the process has continued to move forward despite those early reservations. In: United States Congress Rand Paul Finland Josh Hawley United States Senate Joe Biden Ukraine Donald Trump Russia United States Military sweden Vladimir Putin NATO Kyiv mitch mcconnell",Senate set to vote to ratify NATO membership for Sweden and Finland.
"Passengers stand at the Delta Air Lines check-in counters at Hartsfield-Jackson Atlanta International Airport ahead of the Fourth of July holiday in Atlanta, Georgia, U.S., July 1, 2022. REUTERS/Elijah Nouvelage Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. Transportation Department on Wednesday proposed new rules to strengthen airline passenger protection and require airlines to provide vouchers that do not expire when passengers are unable to fly for certain pandemic-related reasons.The rules would codify the Transportation Department’s longstanding interpretation that failing to provide refunds when an airline cancels or significantly changes a U.S. flight constitutes an unfair practice.Those requirements would include offering refunds if airlines made changes that impact departure or arrival times by three hours or more for a domestic flight or six hours or more for an international flight if passengers did not accept alternative arrangements.Register now for FREE unlimited access to Reuters.com""This new proposed rule would protect the rights of travelers and help ensure they get the timely refunds they deserve from the airlines,"" said U.S. Transportation Secretary Pete Buttigieg.The proposed rules come amid a growing push by lawmakers who have urged Buttigieg to take a tougher stance after airlines this summer have canceled tens of thousands of flights.Last month, Democratic senators Elizabeth Warren and Alex Padilla asked Buttigieg to fine airlines that delay or cancel flights because of staffing or operational issues.Airlines for America, a trade group representing Delta Air Lines (DAL.N), United Airlines (UAL.O), American Airlines (AAL.O), Southwest Airlines (LUV.N) and others, declined to comment on the proposal on Wednesday but noted U.S. airlines have trimmed capacity by 16% and are ""ramping up hiring initiatives and increasing communication with travelers"" while addressing ""a range of challenges, outside carrier control, such as inclement weather.""They also noted that since the onset of the pandemic, U.S. airlines have issued $21 billion in cash refunds.Buttigieg, who met virtually with airline CEOs in June to demand better performance, said recently that airlines have improved their performance.The department is also proposing to require U.S. and foreign air carriers and ticket agents to provide refunds for pandemic- related travel cancellations instead of non-expiring travel vouchers or credits ""if the carrier or ticket agent received significant financial assistance from the government as a result of a public health emergency.""Taxpayers awarded U.S. airlines $54 billion in COVID-19 government assistance for payroll costs. American and Delta each got around $12 billion, while United received about $11 billion, with 30% repayable to taxpayers.Those provisions would apply only to airlines receiving new assistance after the rules are finalized.USDOT has concluded investigations of 10 airlines ""and is pursuing enforcement action against them for extreme delays in providing refunds for flights the airlines canceled or significantly changed"" and is actively investigating refund practices of more than 10 additional airlines flying to, from, or within the United States, the department said on Wednesday.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson in Washington
Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",U.S. proposes new consumer protection rules for airline passengers.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - A top coach for U.S. women's pro basketball who once represented Russia at the Olympics has made a plea for Russian President Vladimir Putin to ""do the right thing"" and quickly release American star player Brittney Griner.Las Vegas Aces head coach Becky Hammon, who as a player spent years in Russia and won Olympic bronze for her adopted country, said it was upsetting to see a fellow member of the tight-knit women’s basketball community locked up for nearly six months. Washington says Griner is wrongfully detained in Russia.“It’s something that obviously hits super close to home for me and so I just ask the Russian government to do the right thing. It’s never too late to do the right thing,” Hammon told Reuters in an interview on Tuesday in an appeal that was joined by other figures in global women's basketball. “We're asking for leniency. We're asking for grace. And we're asking to bring home BG.”Register now for FREE unlimited access to Reuters.comGriner, a two-time Olympic gold medalist and center for WNBA team Phoenix Mercury, is expected to return to a Russian court on Thursday for closing arguments in her trial. She faces up to 10 years in prison on drugs charges after she was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing cannabis oil in her luggage. read more Her arrest as she headed to join her Russian team in the American off-season came days before Russia launched its full-scale invasion of Ukraine, plunging relations between Moscow and Washington to their lowest point in decades and thrusting Griner into the center of a geopolitical tussle.U.S. Secretary of State Antony Blinken said last week the United States has made a ""substantial offer"" to Russia to release Griner and former Marine Paul Whelan, who the United States also considers to be wrongfully detained in Russia. A source said that Washington was willing to exchange convicted arms trafficker Viktor Bout, known as the ""Merchant of Death.” read more Moscow has said no deal has yet been done. A swap is unlikely to take place before a verdict in Griner’s trial, but that could take place in the coming days. read more 'ONE OF THE GREATEST'Hammon, a six-time WNBA all-star player, played during the off-season for several Russian teams, a common move for WNBA players seeking to supplement incomes that are lower than their male counterparts'. She became a naturalized citizen and won a bronze Olympic medal for Russia in 2008 and competed again in 2012, but said her Russian citizenship had since expired.Hammon - reportedly the first WNBA coach to be paid more than $1 million – described Griner as “one of the greatest players to ever play,” and said it was possible the detention of a male athlete at the same level would have drawn a greater response.Jul 26, 2022; Chicago, IL, USA; Las Vegas Aces head coach Becky Hammon directs the team during the first half of the Commissioners Cup-Championships against the Chicago Sky at Wintrust Arena. Mandatory Credit: Matt Marton-USA TODAY Sports/File Photo“It's hard to imagine, though, that if this was, you know, LeBron James, that he'd still be sitting over there in jail,” said Hammon. “It’s hard not to let your mind go there.”Hammon said she had always supported the campaign to free Griner, but was speaking out as Griner’s trial draws to a close and Russia has an opportunity to send her home.Several others who played in Russia also called for Griner's release. Seattle Storm forward Breanna Stewart, Spanish shooting guard Marta Xargay and Griner's Phoenix Mercury teammate Diana Taurasi, who played in Russia for over 10 years, recorded video appeals that were shared with Reuters on Wednesday.""We called Russia our second home for many years. I ask, for the sanctity of sport, to have mercy and understanding for our beloved Brittney Griner,"" said Taurasi.Hammon said as an athlete she was not political, but appealed to Putin and Russian authorities to show ""mercy"" and let Griner return to her wife in the United States.“If that was your daughter or your sister or your wife or whoever, you can imagine the agony that you'd been going through waiting,” she said. “Enough is enough.”She also warned that Russian athletes would suffer repercussions from the detention of a top athlete traveling to compete.“I think Mr. Putin is a pretty big sports fan - to jeopardize all these athletes, I mean would just be really unfortunate,” said Hammon.Russian sports teams and athletes have been excluded from some international events over the invasion of Ukraine, and Olympic officials have said Russia could be banned from the 2024 games in Paris. Russia has not faced sporting sanctions for Griner's detention. read more “If (Griner) were to have to serve a (prison) sentence, I think there would have to be bad implications internationally on the sports world,” Hammon said. “There's certain ways to put pressure on Russia. Hopefully it doesn't come to that.”Register now for FREE unlimited access to Reuters.comReporting by Simon Lewis;
Editing by Mary Milliken and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.","Exclusive: Coach Hammon, once a star in Russia, urges Putin to free Brittney Griner."
"Every year, millions of tons of plastic waste pour into the ocean, much of coming from about 1,000 hyper-polluting rivers. And with overall waste generation poised to increase over 75% by 2050, the problem is only set to worsen.Companies around the world have turned their attention to the problem of river waste, building various barriers, fences, and wheels that help to contain and remove trash as it flows downstream.The approaches range from trash-scooping solar-powered barges to stainless steel fences, and different rivers will necessitate different methods.Here's how three companies, Clearwater Mills, The Ocean Cleanup, and AlphaMERS are approaching the problem.Clearwater Mills' Trash WheelsBaltimore's googly-eyed trash wheels, the first of which debuted in 2014, are one of the original efforts to address river waste. Built by Clearwater Mills, the company's founder John Kellett was inspired to design the wheels after years of seeing trash pouring into the Baltimore Harbor after big storms.""We have Mr. Trash Wheel, Captain Trash Wheel, Professor Trash Wheel and Gwynnda the Good Wheel of the West here in Baltimore,"" Kellett said, citing the names of the anthropomorphized wheels which have become minor social media celebrities in the city.Baltimore's Mr. Trash Wheel gobbles up waste and debris after a big storm.Waterfront Partnership of BaltimoreHere's how they work: Containment booms are set up in a V-shape across the river, with rubber skirts that extend about two feet below the water's surface. This catches trash floating downriver and funnels it towards the ""mouth"" of the rotating water wheel, which is powered by the river's current and attached solar panels. The wheel's rotation powers a conveyor belt that lifts trash and debris out of the river and deposits it into a dumpster. Attached cameras allow the team to monitor how full the dumpsters are.""And when that dumpster's full, we have another floating barge that we bring with an empty dumpster. Take the full one out, slide the empty one in and keep picking up the trash,"" Kellett said.The four wheels have picked up a total of about 2,000 tons of trash and debris. Sticks and leaves make up the bulk of this weight since plastic is so light, but the haul overall includes about 1.5 million plastic bottles, 1.4 million foam containers and 12.6 million cigarette butts. Everything is then incinerated in a waste-to-energy facility.Additional trash wheels are planned for Texas, California, and even Panama, where local nonprofit Marea Verde has partnered with Clearwater Mills to build the fifth wheel in the family, named Wanda Díaz. The project is funded by the Benioff Ocean Initiative and the Coca-Cola Foundation, which together are supporting a portfolio of river cleanup projects around the world.The Ocean CleanupThe Ocean Cleanup is probably best known for its efforts to clean the Great Pacific Garbage Patch, an endeavor the company's young founder Boyan Slat started pursuing in 2013 after a TED talk he gave on the topic went viral. The company is now pursuing a dual focus since it's also built a series of river cleanup technologies.""Our goal is to rid the oceans of plastic, and the reason why we look at rivers is because we believe it's the fastest and most cost effective way to prevent further plastic from being emitted to the ocean,"" said Slat.The company's first river cleanup device, called the Interceptor Original, was released in 2019. It's a fully solar-powered barge that operates much like Baltimore's trash wheels, just on a larger scale. Sitting at the mouth of a river, it funnels trash onto a conveyor belt and automatically distributes the waste across six giant dumpsters.The Ocean Cleanup's Interceptor Original working on the Rio Ozama in the Dominican Republic in summer 2020.The Ocean CleanupBut since this giant interceptor doesn't fit in smaller rivers, the team developed another solution, a standalone floating barrier to capture the waste, and a small, mobile conveyer belt that scoops up the trash and transports it to a dumpster onshore. This system is currently deployed in Kingston Harbour, Jamaica, where Slat says the rivers are too narrow for the Interceptor Original.And for the most severely trash-choked rivers, there's the Trashfence. The concept is simple. A 26-foot high steel fence is anchored to the bed of the river and stops the flow of trash during a big storm. Once the water level recedes, excavators remove the waste. But the onslaught of trash in one of the world's most polluted rivers in Guatemala proved too intense for version 1.0. ""The force of the trash was so high that the trash fence failed, unfortunately,"" Slat said. ""So we're now working on a version two that will hopefully be ready for the next rainy season.""Eight Ocean Cleanup interceptors are currently installed in Indonesia, Malaysia, Vietnam, the Dominican Republic and Jamaica. Slat expects about 20 will be installed by next year, including one in Los Angeles.AlphaMERSIndia-based AlphaMERS makes another version of a simple river barrier and has 34 installations in eight different cities across the country. It's much smaller than the Ocean Cleanup's Trashfence, and not designed for the same extreme trash flow, but it's still pretty heavy duty. Made of stainless steel mesh, the AlphaMERS fence floats a couple of feet above the water and dips about 16 inches below. ""The hydrodynamics and the hydrostatic of this is very simple but excellent for the job,"" said AlphaMERS Founder D.C. Sekhar. ""And it's made very rugged, very heavy duty with steel chains holding it on both sides. So it's able to withstand the monsoon flows immediately after the rain.""Sekhar says his floating fence excels at stopping trash in rivers with fast currents, whereas designs that rely on a boom and a skirt might fail when currents pick up, since the water will instead run over the barrier, bringing trash with it.The AlphaMERS floating barrier captures trash as it flows downriverAlphaMERSEight floating barriers were deployed at various points along the Cooum River in Chennai in 2017. Sekhar says they captured about 2,400 tons of plastic in their first year of operation.The barriers are angled to direct trash toward the riverbank, where excavators have traditionally plucked the trash from rivers. AlphaMERS has been using conveyor belts instead, just like Clearwater Mills and The Ocean Cleanup.""One end is floating, one end is on the land,"" Sekhar said of the conveyor belts. ""And now it's run with electrical power, with portable generators. But very soon we will run it with the flow of river water.""The future of wasteThese organizations share the same goal of removing as much waste from our lives as possible, but they also all understand river cleanup systems aren't the ultimate solution. ""One of the things we're looking forward to is when trash wheels are no longer needed,"" Kellett said. ""When we're addressing the problem upstream to the extent where no trash is entering our waterway and we don't need to have a trash wheel.""Getting there will be tough and will depend on some combination of better waste infrastructure, more sustainable packaging, less consumption, and public awareness around proper disposal.Middle-income countries like the Philippines, India and Malaysia contribute the most to oceanic waste. The population has enough money to buy lots of packaged goods, but waste collection infrastructure is lagging.Sandy Watemberg, executive director of the nonprofit Marea Verde, is excited that her organization has brought the Wanda Díaz trash wheel to Panama and is optimistic about its future performance.""So we are very hopeful that this will be a very big success for our country,"" Watemberg said. However, she knows that real change will take much longer.""Having these technologies and these types of projects is not the solution. We need to change our habits. We need to look for long-term solutions that allow us to have a cleaner and healthier environment because these types of projects help us create awareness and help us to mitigate in the short and mid-term. But at the end of the day, this is not something sustainable. We cannot have thousands of projects like this running forever.""",How three companies are cleaning up the world's plastic-choked rivers.
"The Federal Reserve building is pictured in Washington, D.C., U.S., August 22, 2018. REUTERS/Chris Wattie/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the U.S. central bank's key interest rate next month might be enough to march toward that goal.""I start from the idea that 50 (basis points) would be a reasonable thing to do in September because I believe I'm seeing evidence in my contact conversations, and in the observations of the world I see, that there are some bright spots for me,"" San Francisco Fed President Mary Daly said in an interview with Reuters.However, ""if we just see inflation roaring ahead undauntedly, the labor market showing no signs of slowing, then we'll be in a different position where a 75-basis-point increase might be more appropriate. But I go in with the 50 in mind as I look at the data coming in,"" Daly added. read more Register now for FREE unlimited access to Reuters.comWhether the Fed will go ahead with a third straight 75-basis-point rate hike at its Sept. 20-21 policy meeting - a pace unmatched in more than a generation - or dial back a bit is of central interest to investors, businesses and consumers who are increasingly fearful that the central bank's inflation fight may trigger a recession.After Daly's remarks, investors in futures contracts tied to the Fed's benchmark overnight interest rate pared back the probability that the central bank would raise the policy rate by 75 basis points next month.Fed Chair Jerome Powell said last week the central bank may consider another ""unusually large"" rate hike at the September meeting, with officials guided in their decision making by more than a dozen critical data points covering inflation, employment, consumer spending and economic growth between now and then. read more Several policymakers, including Daly, have shown stiffening resolve this week to continue the aggressive monetary tightening, with nearly all of them uniformly flagging that the central bank remains determined to press ahead with rate hikes until it sees strong and long-lasting evidence that inflation is on track back down to the Fed's 2% goal.Inflation has for months confounded expectations that it would ease and is now, by the Fed's preferred measure, running at more than three times the target.'A VERY UNLIKELY SCENARIO'In a separate appearance, Minneapolis Fed President Neel Kashkari echoed comments by Daly this week that it is extremely unlikely that the central bank will pivot to cutting interest rates in 2023.""Some financial markets are indicating they expect us to cut interest rates next year,"" Kashkari said at an event held as part of a financial regulation conference in New York.""I don't want to say it's impossible, but it seems like that's a very unlikely scenario right now given what I know about the underlying inflation dynamics. The more likely scenario is we would continue raising (interest rates) and then we would sit there until we have a lot of confidence that inflation is well on its way back down to 2%,"" Kashkari added.St. Louis Fed President James Bullard also said the central bank will be steadfast in raising rates to bring inflation back down.""We are going to be tough and get that to happen,"" Bullard said in an interview with CNBC. ""I think we can take robust action and get back to 2%."" read more That will probably involve having to keep rates ""higher for longer"" in order to gather enough evidence that inflation is coming down in a sustainable way, Bullard said, noting that policymakers will have to see evidence that headline and core measures of inflation are ""coming down convincingly"" before any let-up.Bullard has previously said he wants the Fed's policy rate to rise to between 3.75% and 4.00% this year to help quash inflation.Speaking in Virginia, Richmond Fed President Thomas Barkin said the central bank has made clear it will ""do what it takes"" as he warned that inflation will recede but ""not immediately, not suddenly and not predictably."" read more For her part, Daly told Reuters that raising the policy rate to 3.4% by the end of this year ""is a reasonable place to think about us getting to"" and rebuffed the assertion that the Fed's rate hikes from here - which would take it beyond policymakers' collective judgment of the long-run ""neutral rate"" of interest - ought to be considered ""restrictive.""""Not in my judgment,"" Daly said, arguing that the interest rate level at which the Fed is actively impeding growth and activity is closer to 3%.""When you think of 2.5%, that's the longer-run neutral rate of interest, but right now, inflation is high,"" Daly added. ""And there's a lot of demand chasing limited supply, and so of course the neutral rate is elevated. So my own estimate of where that would be right now is around or a little bit over 3%, maybe 3.1%.""""So in my judgment, we're not even up to neutral right now,"" Daly said.Register now for FREE unlimited access to Reuters.comReporting by Lindsay Dunsmuir and Dan Burns; Editing by Paul Simao and Will DunhamOur Standards: The Thomson Reuters Trust Principles.",Fed officials beat inflation drum; 50-basis-point rate hike 'reasonable' next month.
"The building of the European Court of Human Rights is seen in Strasbourg, France, September 11, 2019. REUTERS/Vincent Kessler/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 3 (Reuters) - Europe's human rights court on Wednesday refused a request from the parents of a 12-year-old British boy with brain damage to intervene in a decision to remove life support.The verdict from the European Court of Human Rights (ECHR) follows unsuccessful appeals by 12-year-old Archie Battersbee's parents Hollie Dance and Paul Battersbee at Britain's highest courts for the child to continue receiving treatment.Battersbee was found unconscious at his Essex home in early April. Doctors treating him have said continued life support would not be in his best interests.Register now for FREE unlimited access to Reuters.com""The Court ... today decided not to issue the interim measure sought. It also decided to declare the applicants' complaints inadmissible,"" the ECHR said in a statement following an application on Wednesday, just hours before doctors were scheduled to pull life support.""Therefore the Court will not interfere with the decisions of the national courts to allow the withdrawal of life-sustaining treatment from A.B. to proceed.""After the decision, Battersbee's mother said she was ""absolutely deflated"".""That was our last option,"" a tearful Dance told reporters outside the hospital. ""I would like him out of here as quick as possible really and in a peaceful hospice to say goodbye.""Britain's High Court ruled in June doctors could withdraw life support for Battersbee, with a judge finding that the child had died at the end of May and citing a ""total lack of a prospect of recovery"".His parents appealed that ruling but it was upheld by a new judge. The Supreme Court last week refused permission for another appeal.The Barts Health NHS Trust, which oversees the London hospital where Battersbee is receiving treatment, had said it would make no changes to his care until outstanding legal issues were resolved.Dance has said there are other countries where her son could be treated and that he should be allowed to seek treatment elsewhere rather than have his life support withdrawn.""They are killing an innocent child that could have the potential to recover. It is shameful, it is disgusting,"" Dance said. ""I promised him I would fight until the end and that is exactly what I have done.""Register now for FREE unlimited access to Reuters.comReporting by Sachin Ravikumar and Kylie MacLellan, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.",European court refuses to intervene in case of British boy on life support.
"World August 3, 2022 / 3:53 PM / CBS News Scientists warn of risks of ""climate endgame"" Scientists warn world needs to prepare for risks of ""climate endgame"" 01:13 A team of international scientists says the world needs to start preparing for the possibility of a ""climate endgame"" as extreme weather events keep ravaging the planet.From raging wildfires to catastrophic flooding, the effects of climate change can be seen all around. So far, the conversation has been primarily about how to prevent it from getting worse. United Nations Secretary-General Antonio Guterres issued a dire warning at last month's Petersberg Climate Dialogue conference in Berlin, Germany: ""Half of humanity is in the danger zone from floods, droughts, extreme storms and wildfires. No nation is immune,"" he said.Now a team of international experts led by Cambridge University in England says that even as nations set goals to reduce emissions, we should be prepared for failure.  ""Right now, I think we're being naive. We're not looking at the worst-case scenarios at all, really,"" says Luke Kemp, Ph.D., with Cambridge's Centre for the Study of Existential Risk.The report by Kemp and his colleagues warns about what they call the ""four horsemen"" of the climate endgame: famine, extreme weather, conflict, and infectious diseases. Scientists are urging world leaders to investigate possible outcomes ranging from a loss of 10% of the global population to eventual human extinction.  ""The ultimate purpose of this area of study ... it's not supposed to be any kind of disaster voyeurism, it's supposed to be about better understanding, which prevents the worst case,"" Kemp says.But the worst-case scenario is something he believes we need to prepare for, if all else fails.In their research, published in the journal Proceedings of the National Academy of Sciences, the scientists note that with current emissions and population trends, within 50 years, 2 billion people could live in places with an annual average temperature of more than 84 degrees Fahrenheit — extreme heat that is now found in less than 1% of Earth's land surface area. In: Climate Change Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Scientists say the world needs to think about a worst-case ""climate endgame""."
"Register now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 3 (Reuters) - United Nations Secretary-General Antonio Guterres on Wednesday slammed the ""grotesque greed"" of oil and gas companies and their financial backers and urged governments globally to ""tax these excessive profits"" to support the most vulnerable people.""It is immoral for oil and gas companies to be making record profits from this energy crisis on the backs of the poorest people and communities, at a massive cost to the climate,"" Guterres told reporters.The two largest U.S. oil companies, Exxon Mobil Corp XOM.N and Chevron Corp CVX.N, British-based Shell (SHEL.L) and France's TotalEnergies (TTEF.PA) combined earned nearly $51 billion in the most recent quarter, almost double what the group brought in for the year-ago period. read more Register now for FREE unlimited access to Reuters.com""I urge all governments to tax these excessive profits, and use the funds to support the most vulnerable people through these difficult times,"" Guterres said.United Nations Secretary-General Antonio Guterres addresses the media prior to the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' Delgado""And I urge people everywhere to send a clear message to the fossil fuel industry and their financiers: that this grotesque greed is punishing the poorest and most vulnerable people, while destroying our only common home,"" he said.Politicians and consumer advocates have criticised the oil companies for capitalizing on a global supply shortage to fatten profits and gouge consumers. U.S. President Joe Biden said in June that Exxon and others were making ""more money than God"" at a time when consumer fuel prices surged to records. read more Last month, Britain passed a 25% windfall tax on oil and gas producers in the North Sea. U.S. lawmakers have discussed a similar idea, though it faces long odds in Congress.Guterres said Russia's war in Ukraine and the climate breakdown was stoking a global food, energy and finance crisis.""Many developing countries – drowning in debt, without access to finance, and struggling to recover from the COVID-19 pandemic – could go over the brink,"" he said. ""We are already seeing the warning signs of a wave of economic, social and political upheaval that would leave no country untouched.""Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols
Editing by Rami Ayyub and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.","U.N. chief urges tax on 'grotesque greed' of oil, gas companies."
"The 2022 job market is still flush with opportunities – and a growing number of companies are offering remote positions to accommodate people's desire for flexibility at work.Last year FlexJobs, a membership service for jobseekers, saw a 12% increase in the number of remote job listings on their site, as well as a wider range of remote opportunities across industries and experience levels. FlexJobs looked at over 13,000 job listings from 5,800 companies on the site's database over the last month to determine which remote jobs are the most in-demand right now and are expected to become more popular in the coming months. Roles like ""recruiter"" and ""accountant"" are at the top of list. The growth of such roles reflects larger shifts happening in the work landscape, FlexJobs career coach Toni Frana tells CNBC Make It. ""The rise in recruiting roles signals the need to hire talent, especially on the heels of the Great Resignation,"" she says. ""While the spike in accounting positions may be somewhat seasonally driven, the demand for it [and other jobs] may be a result of so many of these top roles moving into the remote work space."" Here are the most in-demand remote jobs according to FlexJobs and their average salaries. 1. Customer service representativeCustomer service representatives help customers resolve questions and problems regarding products or services. They act as a liaison between customers and companies, helping attract new customers and suggesting information about other products/services. Average salary: $40, 223 2. Recruiter Recruiters are in charge of researching and screening job candidates for open roles at companies. They also coordinate interviews, job offers and the onboarding process. Average salary: $53,3273. Accountant Accountants help businesses collect, monitor and correct their finances. Responsibilities include filing taxes, updating financial records and managing income and expenditure accounts. Average salary: $52,442 4. Executive assistant Executive assistants support business leaders by answering their correspondence, managing their calendars, organizing meetings and other administrative duties. Average salary: $58,338 5. Project manager",The 5 most in-demand remote jobs right now—and how much they pay.
"Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs, New Mexico, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File PhotoRegister now for FREE unlimited access to Reuters.comHOUSTON, Aug 3 (Reuters) - Occidental Petroleum Corp (OXY.N) is keeping its total 2022 production guidance at around 1.55 million barrels of oil equivalent per day (boed), its CEO Vicki Hollub said on Wednesday, despite target reductions in the U.S. Permian basin.Occidental cut its 2022 production outlook for the main unconventional basin in the United States to between 516,000 and 526,000 boed, from 527,000 to 537,000 boed projected in May, knocking its shares almost 5% lower to $62 by mid-afternoon.The reduction follows third party processing issues and a shift of production to Colombian oil producer Ecopetrol, with whom Occidental signed a joint venture.""All contributed to a slightly lowering (of) our full-year Permian production guidance,"" Hollub said, adding that the losses will be fully offset by high production in the Rockies and the Gulf of Mexico.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle; Editing by Jonathan Oatis and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.",Occidental sticks to oil production forecast despite Permian cuts.
"A staff member removes the Iranian flag from the stage after a group picture with foreign ministers and representatives of United States, Iran, China, Russia, Britain, Germany, France and the European Union during the Iran nuclear talks at the Vienna International Center in Vienna, Austria, July 14, 2015. REUTERS/Carlos Barria/FilesRegister now for FREE unlimited access to Reuters.comDUBAI, Aug 3 (Reuters) - Top Iranian and U.S. officials will resume talks in Vienna this week on reviving the 2015 nuclear pact, officials from both countries said on Wednesday, though they played down any expectations of a breakthrough.The ball is in Washington's court to save the pact, Iran's chief negotiator Ali Bagheri Kani tweeted before heading to Vienna, calling on Washington to ""show maturity & act responsibly"". read more ""Heading to Vienna to advance the negotiations. The onus is on those who breached the deal & have failed to distance from ominous legacy,"" tweeted Bagheri Kani.Register now for FREE unlimited access to Reuters.comIran's foreign ministry spokesperson Nasser Kanaani said Tehran was ready to reach a deal that guarantees its rights, according to state media.An Iranian official, who spoke on condition of anonymity, said the talks would resume on Thursday.U.S. Special Envoy for Iran Rob Malley said he was preparing to fly to Vienna but suggested he did not expect major progress.""Our expectations are in check, but the United States welcomes EU efforts and is prepared for a good faith attempt to reach a deal. It will shortly be clear if Iran is prepared for the same,"" he wrote on Twitter.Malley said the talks would proceed on the basis of a text recently proposed by European Union foreign policy chief Josep Borrell to revive the 2015 accord under which Iran curbed its nuclear programme in return for an easing of economic sanctions.Eurasia Group analyst Henry Rome said he thought it unlikely the deal - called the Joint Comprehensive Plan of Action (JCPOA) - would be resurrected this year, putting the odds at 35 percent and saying neither side wanted the blame for its death.""Both the US and Iran have a strong interest in keeping the prospect of a deal alive even though both governments appear resigned to its eventual demise,"" Rome wrote in an analysis.""For the US, the continued focus on the JCPOA postpones a messy and costly pivot to increasing diplomatic and economic pressure on Tehran,"" he added. ""For Iran, continued diplomacy, even if unproductive, supports domestic markets, forestalls greater international pressure, and gives it cover for its continued nuclear advancements.""In 2018, then-President Donald Trump abandoned the deal, calling it too soft on Iran, and reimposed harsh U.S. sanctions, spurring Tehran to begin breaching its nuclear limits.In the latest sign Iran's nuclear program is advancing, an International Atomic Energy Agency report seen by Reuters said Tehran had completed installing three advanced IR-6 centrifuge cascades at its Natanz fuel enrichment plant. read more The 2015 deal seemed near revival in March after 11 months of indirect talks between Tehran and U.S. President Joe Biden's administration in Vienna.But talks then broke down over obstacles including Tehran's demand that Washington provide guarantees that no U.S. president would abandon the deal as Trump did.Biden cannot promise this because the nuclear deal is a non-binding political understanding, not a legally binding treaty.Another sticking point was Tehran's demand that Washington remove Iran's Islamic Revolutionary Guard Corps from the U.S. Foreign Terrorist Organization list, something Biden has ruled out.In June, the EU-mediated, indirect talks between Bagheri Kani and Malley on salvaging the pact ended in Qatar without progress and a senior U.S. official told Reuters afterwards the odds of a revival had diminished. read more An Iranian official told Reuters the talks in Vienna will be ""in the format of the Doha meeting"", where EU envoy Enrique Mora shuttled between Bagheri Kani and Malley because Tehran refused to hold direct talks with Washington.Register now for FREE unlimited access to Reuters.comReporting by Parisa Hafezi in Dubai and by Arshad Mohammed in Saint Paul, Minnesota; Writing by Parisa Hafezi and Arshad Mohammed; Editing by Toby Chopra, Howard Goller and Alistair BellOur Standards: The Thomson Reuters Trust Principles.","U.S., Iran to resume indirect talks on nuclear deal."
"Crime August 3, 2022 / 4:00 PM / AP Nicki Minaj fans chase vehicle in London Nicki Minaj fans chase vehicle in London after canceled ""meet and greet"" event 00:32 The driver in a hit-and-run crash that killed the father of rapper Nicki Minaj last year was sentenced Wednesday to a year in jail, in keeping with a promise the judge made when the man pleaded guilty in May.Charles Polevich, who pleaded guilty to leaving the scene and tampering with evidence in the crash on New York's Long Island that killed Robert Maraj, was also ordered to pay a $5,000 fine and had his driver's license suspended for six months.Polevich's lawyer, Marc Gann, suggested his client may have had a medical issue at the time of the crash and that he wasn't fully aware of what had happened when he fled. Polevich, 72, said in court that he's ""been heartsick since realizing the extent of the tragedy"" and that there was ""no excuse"" for his behavior.Maraj's widow, Carol Maraj, said in court that Polevich had left her husband ""like a dog on the street"" and that sparing him a longer jail sentence was a ""slap in the face for the family,"" Newsday reported. Polevich struck Maraj, 64, while Maraj was walking along Roslyn Road in Mineola in February 2021. Polevich stopped briefly to ask Maraj if he was OK, but didn't call for help, prosecutors said.Instead, Polevich went home, parked the car — a white, 1992 Volvo station wagon — in his garage and covered it with a tarp, prosecutors said. Maraj was taken to a hospital and pronounced dead the next day.Prosecutors sought a sentence of one to three years behind bars, but Nassau County Judge Howard Sturim said in May, when Polevich pleaded guilty, that he would get ""no more than one year in jail.""Brendan Brosh, a spokesperson for the Nassau County district attorney's office, said that ""given the severity of the defendant's conduct,"" prosecutors felt a stiffer sentence was warranted. ""We continue to express our condolences to the family of Robert Maraj,"" Brosh said.Gann asked for a 90-day jail sentence, arguing that other factors outside of Polevich's control were partially to blame for the crash, including road construction, street lights that weren't working and Maraj's physical condition.Maraj's widow, Carol Maraj, is suing Polevich over the crash.Polevich, who had been splitting time between Long Island and Guam, where he runs a drilling and water purification business, surrendered to police a few days after the crash.Detectives said they used pieces of surveillance video to track the Volvo involved in the crash to Polevich's Mineola home.Nicki Minaj, the platinum-selling, Grammy-nominated rapper of ""Anaconda,"" ""Super Bass"" and other hits, was born Onika Tanya Maraj in Trinidad and was raised in Queens.In a post on her website, Minaj, 39, called her father's death ""the most devastating loss of my life."" In: Nicki Minaj Homicide Music Crime Hit-and-Run New York Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Driver who pleaded guilty in hit-and-run death of Nicki Minaj's father gets 1 year in jail.
"Henrik Fisker stands with the Fisker Ocean electric vehicle after it was unveiled at the Manhattan Beach Pier ahead of the Los Angeles Auto Show and AutoMobilityLA on November 16, 2021 in Manhattan Beach, California.Patrick T. Fallon | AFP | Getty ImagesCalifornia-based EV startup Fisker said Wednesday it now has more than 56,000 reservations for its Ocean electric SUV, and confirmed that it's still on track to start production in mid-November. The announcements were part of Fisker's second-quarter earnings report. Here are the key numbers:Loss per share: 36 cents vs. 41 expected by Refinitiv consensus estimatesNet loss: $106 million vs. $122.1 million reported in the first quarter of 2022.Reservations: More than 56,000, up from more than 45,000 when it reported its first-quarter results in May.CEO Henrik Fisker confirmed the company and its manufacturing partner, global auto supplier Magna International, are on track to begin production of the Ocean at a Magna-owned factory in Austria later this year. Fisker also confirmed that its second vehicle, a lower-cost model called the PEAR, will be built by Taiwan's Foxconn Technology Group in the former Lordstown Motors factory in Ohio starting in 2024.Fisker plans to launch a third model, a sports car called Ronin, in late 2024.This is a developing story. Please check back for updates.","Fisker on track to start production of its electric Ocean SUV this year, now has 56,000 reservations."
"MoneyWatch August 3, 2022 / 4:08 PM / CBS/AP PGA ups winnings to compete with LIV series PGA increases winnings to compete with LIV series 00:37 Hall-of-fame golfer Phil Mickelson, Bryson DeChambeau and nine other players who defected to Saudi-funded LIV Golf tour filed an antitrust lawsuit Wednesday against the PGA Tour over their suspensions, marking the first step in a legal fight that could define the rules of competition across professional sports circuits.Three of the plaintiffs, Talor Gooch, Hudson Swafford and Matt Jones, also filed an application for a temporary restraining order to compete in the FedEx Cup playoffs, according to the lawsuit, obtained by CBS MoneyWatch.The lawsuit stems from the PGA Tour suspending some of the top names in golf from participating in its events after they competed in tournaments hosted by rival tour LIV Golf, which offered record prize money. Six players who have competed in LIV Golf events are among the top 125 in the FedEx Cup standings and would be eligible for the start of the PGA Tour's postseason, which begins next week. But the PGA Tour's player regulations include a ""Conflicting Events"" clause that prohibits its members from competing in any golf event in North America held the same week as a PGA Tour event or tournament. The lawsuit notes that the PGA Tour hosts an event nearly every week, effectively preventing players from competing in any non-PGA Tour event in North America.  Conflicting events regulation""The Conflicting Events Regulation thus invests the leader of the incumbent monopolist with unbridled discretion to foreclose players from participating in any competing events,"" the lawsuit states. The last two LIV Golf events — with $25 million in prize money for 54 holes with no cut — took place in Oregon and New Jersey.The PGA Tour, for its part, issued a statement saying that the players in question ""walked away from the tour and now want back in. With the Saudi Golf League on hiatus, they're trying to use lawyers to force their way into competition alongside our members in good standing.""The PGA Tour also told its current members that the group of 11 defecting golfers are trying to use their ""platform to promote themselves and to freeride on your benefits."" The PGA Tour suspended Mickelson in March for allegedly recruiting players to LIV Golf, the lawsuit claims. The PGA tour denied his application for reinstatement in June, because he had played in the first Saudi event held outside of London.Mickelson and the other golfers' lawsuit called the PGA Tour a monopolistic enterprise with a ""vice-grip on professional golf."" It alleges the PGA Tour wants to harm the careers of the plaintiffs because it is ""threatened"" by the entry of LIV Golf into the arena.  Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Phil Mickelson and other LIV golfers accuse PGA Tour of illegal monopoly in lawsuit.
"U.S. President Joe Biden gestures as he delivers remarks on the Inflation Reduction Act of 2022 at the White House in Washington, U.S., July 28, 2022. REUTERS/Elizabeth Frantz/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - President Joe Biden remains focused on keeping fuel prices down for Americans, the White House said on Wednesday after OPEC+ decided to raise oil output by a modest 100,000 barrels per day, which analysts called an insult after Biden visited Saudi Arabia last month.""What we're focused on is keeping those prices down,"" White House press secretary Karine Jean-Pierre said at a news briefing when asked about the OPEC+ decision.OPEC and allied producers including Russia, a group known as OPEC+, were set to raise output by 100,000 bpd from September. Two sources told Reuters the decision was effectively approved in a closed-door meeting. read more Register now for FREE unlimited access to Reuters.comAnalysts said the increase was equal to only 86 seconds of global oil demand.""That is so little as to be meaningless. From a physical standpoint it is a marginal blip. As a political gesture it is almost insulting,"" said Raad Alkadiri, managing director for energy, climate, and sustainability at Eurasia Group.Biden's visit to Saudi Arabia in July was aimed at persuading OPEC's leader to pump more oil to help alleviate high prices in the United States and the global economy. For weeks, experts have speculated that OPEC+ would pump more oil after the trip and Washington's clearance of missile defense system sales to Riyadh and the United Arab Emirates.The Saudi trip was scheduled only after OPEC+ announced in early June that it would increase output each month by 50 percent in July and August, Jean-Pierre said.""We wanted to see some increases in the production before we announced the trip and we actually saw that in that first week of June,"" she said.Pressed on whether the relatively small increase was an insult to Biden, Jean-Pierre repeatedly said ""prices are coming down.""Amos Hochstein, a top administration energy security adviser, called the increase ""a step in the right direction"" in an interview on CNN on Wednesday.He acknowledged the move would not have a significant impact on fuel costs for Americans.""Our main focus is not about the numbers of barrels. Our main focus is on bringing prices down,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Alexandra Alper; Writing by Katharine Jackson; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.",Biden focused on controlling U.S. oil prices after OPEC+ output increase.
"Register now for FREE unlimited access to Reuters.comHINDMAN, Ky., Aug 3 (Reuters) - Hundreds of National Guard have fanned out across eastern Kentucky to help residents displaced this week by severe flooding that swept away homes and vehicles, and killed at least 37 people, the governor said on Wednesday.Although the number of confirmed deaths has held steady at 37, Governor Andy Beshear said he expected the toll to increase by a least ""a couple of people"" in the coming days.After days of torrential rain, a spell of dangerously hot weather has become the latest weather concern, with temperatures expected to peak near 100 Fahrenheit (37 Celsius) on Wednesday.Register now for FREE unlimited access to Reuters.com""We have already lost 37 Kentuckians,"" he said, urging the thousands of people who remain without power to go to one of the eight cooling stations. ""We don't want to lose any more to what is going to be vicious heat.""Despite the conditions, the arduous task of cleaning up and rebuilding was well underway on Wednesday, as waters receded and remote areas became more accessible. Mountains of muddy debris, upended vehicles and homes dislodged from their foundations were common sights.About 400 members of the Kentucky National Guard were out on Wednesday, delivering hundreds of cases of water and assisting in the recovery effort, Beshear said during a morning news conference.At Jones Fork Elementary School in Mousie, a tiny community in Knott County, the National Guard was preparing supplies to distribute to flood victims.Samuel Whitehead, who serves part time in the Guard, is a teacher who lives in Morehead, in the northern part of the state. He said seeing the devastation in the flood zone was emotional for him because he grew up in the area.Kentucky National Guard helicopter crew members carry a victim of flooding, during their deployment in response to a declared state of emergency in eastern Kentucky, U.S. July 27, 2022. U.S. Army National Guard/Handout via REUTERS ""I'm originally from Hazard, and just coming down here and seeing that the people who I grew up around and my neighbors and old friends, that some of them have suffered all these losses, it's really hard to watch for me,"" he said on Tuesday. ""And I feel like I can't do enough.""In nearby Hindman, flood water had swamped the first floor of the building that houses Bowling Law Firm.Dinah Lynn Bowling, an attorney and a co-owner of the firm, was reflective as she stood outside on Tuesday afternoon.""At first it was very hard, and it was very devastating to see what we had worked so hard for to be destroyed,"" she said. ""But again, we know that we are so thankful to God because we still have our lives, our families have theirs.""About 60 miles (100 km) to the northwest, survivors sat outside a temporary shelter set up by the American Red Cross at Wolfe County High School in Campton. Some of them spoke about the harrowing experience of escaping the fast-rising water with little more than their lives.""Within two hours, the water is up over the roof of a house. We evacuated with what just we had,"" said Dustin Cesefske, who lives with his family in Hardshell, a hamlet in Breathitt County in the heart of the flood zone. ""We just had the clothes on their back and that was it.""For some of the those who have taken refuge in the shelter, it is too soon to speculate what the future holds for them, whether they will rebuild or relocate.""We're not sure what we're going to do. We lost our home completely. It was completely submerged,"" said Jonas Creech, who escaped from the trailer park where he lives in Jackson, Kentucky, along with his stepfather and blind mother.""So we don't really have plans from here,"" he said, his voice trailing off.Register now for FREE unlimited access to Reuters.comReporting by Aleksandra Michalska; Additional reporting by Brendan O'Brien in Chicago; Writing by Frank McGurty; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.","As waters recede, Kentucky begins recovery from devastating floods."
"Rep. Jackie Walorski (R-IN) speaks as U.S. Secretary of Health and Human Services Alex Azar testifies to the House Select Subcommittee on the coronavirus disease (COVID-19) crisis, on Capitol Hill in Washington, U.S., October 2, 2020. J. Scott Applewhite/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Congresswoman Jackie Walorski of Indiana died in a car accident on Wednesday, U.S. House of Representatives Republican leader Kevin McCarthy said.Three other people were killed in the crash, a collision of two vehicles near the Indiana town of Nappanee, north of Indianapolis, ABC57 TV reported, citing a police statement.The TV station and other local media said the others killed included Walorski's communications director Emma Thomson and Zachery Potts, a local Republican county chair.Walorski's office did not immediately respond to a request for comment.Walorski, 58, a Republican, was a lifelong resident of Indiana, according to her official biography. Representing Indiana's 2nd congressional district, She served on the House Ways and Means Committee and as the ranking member of the Subcommittee on Worker and Family Support.Register now for FREE unlimited access to Reuters.comReporting by Rami Ayyub; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","Congresswoman Jackie Walorski dies in car crash, Republican leader says."
"Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - An attorney for the parents of a child killed in the Sandy Hook mass shooting showed a video to jurors in the defamation trial of Alex Jones on Wednesday in which the U.S. conspiracy theorist tells his Infowars viewers the jury pool is full of people who ""don't know what planet they're on.""Jones, founder of the Infowars radio show and webcast, is on trial in Texas to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Mark Bankston, lawyer for the parents of slain 6-year-old Jesse Lewis, accused Jones of approaching the trial in bad faith, citing broadcasts where he said the trial was rigged against him.Register now for FREE unlimited access to Reuters.comBankston showed a video of Jones saying in his broadcast on Friday that the jury pool was full of people who ""don't know what planet they're on.""He also showed jurors an image from Jones's show that Bankston said depicted Judge Maya Guerra Gamble, who is overseeing the case, on fire. Jones responded that the image shows Lady Justice on fire, not Gamble.The parents, Neil Heslin and Scarlett Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC. Closing arguments were under way on Wednesday afternoon.Judge Gamble admonished Jones on Tuesday for not telling the truth under oath after he falsely told the jury he was bankrupt and had complied with discovery in the case.""It seems absurd to instruct you again that you must tell the truth while you testify,"" she said. ""Yet here I am.""Jones has already been found liable for defamation by Gamble, who issued a rare default judgment against him in 2021.Jones on Wednesday sought to distance himself from previous falsehoods that the shooting was a hoax, saying it was “crazy” of him to repeatedly make this claim.Jones, who has previously acknowledged the shooting took place, told jurors that the shooting was “100% real.”Heslin testified on Tuesday that the falsehoods Jones spread to his millions of listeners made his life “hell” and resulted in a campaign of harassment and death threats against him by people who believed he lied about his son’s death.Lewis said she believes that Jones knew that the hoax claims were false but spread them anyway because they attracted listeners and helped him market his supplements and other products.Free Speech Systems declared bankruptcy last week. Jones said during a Monday broadcast that the filing will help the company stay on the air while it appeals.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Amy Stevens, Noeleen Walder, Mark Porter and Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Alex Jones says jurors 'don't know what planet they're on'.
"U.S. August 3, 2022 / 3:56 PM / CBS News Weather extremes strike across U.S. Weather extremes strike across U.S. 01:16 Cities across the U.S. could be an average of eight degrees hotter by 2100. In about 78 years, 247 U.S. cities could feel like an entire part of the country – or world – found researchers at Climate Central, a nonprofit that researches climate change.The independent group of scientists and communicators analyzed the changing climate and how it will affect people's lives. They found 16 U.S. cities could see summer temperatures equivalent to the Middle East by 2100. Other cities could see temperatures that reflect locations 437 miles to their south. Chicago is projected to warm by 9.1 degrees Fahrenheit, feeling more like Montgomery, Alabama. New York is projected to warm by 7.6 degrees, with summers expected to feel more like Columbia, South Carolina.Houston is projected to warm by 6.4 degrees, feeling like Lahore, Pakistan, while Phoenix could rise 7.2 degrees, feeling like Al Mubarraz, Saudi Arabia. Mitchell, South Dakota, is projected to warm the most – by 11.1 degrees – and it is expected to feel more like Wichita Falls, Texas.The hottest average temperatures of summer days were analyzed. The researchers didn't incorporate humidity, which contributes to how uncomfortable summer heat can feel. ""The Earth is warming because the greenhouse gasses we've emitted, mainly by burning fossil fuels, collect in our atmosphere and act like a blanket, trapping heat,"" Climate Central spokesperson Peter Girard told CBS News via email. ""The blanket gets denser and traps more heat as we add more pollution to it, which is why summer temperatures in cities around the U.S. have been climbing. And they'll keep climbing until we stop contributing more pollution to that heat-trapping blanket.""Extreme heat and longer heat waves can lead to illness or death, Climate Central says. With less cooling at night due to climate change, vulnerable individuals, the elderly, outdoor workers and people with chronic diseases, can experience more heat stress. ""Summer heat will impact health. Working outside, playing sports and exercising, or living without air conditioning won't just be uncomfortable, they'll be dangerous,"" Girard said. ""Millions of Americans are already adapting their lives to avoid midday heat, and millions more are struggling to stay safely cool. Those realities will become more and more common as summer temperatures rise.""Extreme heat can lead to higher risks of heat stroke, extreme heat makes air quality worse – especially in cities, Girard addedBut climate change doesn't just affect health. It can make air quality and pollution worse, lead to more wildfires, floods and rising seas, and worsen allergies, among other things, Climate Central says. It can also have an impact on mental health as the warming climate can lead to more catastrophic weather events, which are physically and mentally difficult to recover from.Climate change solutions can also positively affect human health. Climate Central suggests planting trees, which lower carbon dioxide and purify air, driving an electric car, which reduces emissions and improves air quality; and composting, which also lowers carbon dioxide and improves soil and crop health.Girard says as long as pollution builds up in our atmosphere, temperatures will keep rising. But climate change is more than just excess heat.""This analysis didn't explore other impacts of climate change, but more intense rainfall is another impact that American cities are already seeing,"" he said. ""Because a warming atmosphere can hold more moisture, many places experience heavier rain – and higher risks of flash flooding – than they used to even 50 years ago.""And for most Americans, winter warming as well. ""That hurts winter sports and local economies, but warming winters also disrupt growing season and stress some crops – especially fruit trees – and expand ranges for common allergens, and pests like mosquitoes and ticks,"" he said.  Cities across the U.S. and Europe have experienced several heat waves this summer. In July, some U.S. cities saw triple-digit temperatures and warnings about elevated fire conditions and heat illnesses. That same month, Britain recorded its first temperature over the 40 degrees Celsius mark (104 degrees Fahrenheit).On Wednesday, CBS Boston meteorologist and executive weather producer Terry Eliasen said more extreme heat was expected in the area, just a little over a week after it experienced a seven-day heat wave. Caitlin O'Kane Caitlin O'Kane is a digital content producer covering trending stories for CBS News and its good news brand, The Uplift. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Summer in the U.S. could be 8 degrees hotter in 2100 – with some cities feeling more like the Middle East.
"Lucid Motors CEO Peter Rawlinson poses at the Nasdaq MarketSite as Lucid Motors (Nasdaq: LCID) begins trading on the Nasdaq stock exchange after completing its business combination with Churchill Capital Corp IV in New York City, New York, July 26, 2021.Andrew Kelly | ReutersElectric vehicle maker Lucid Group again cut its production targets Wednesday as supply chain and logistics challenges mean demand for the company's EVs far outpaces its output.The company said it now has over 37,000 reservations for its Air electric luxury sedan, up from more than 30,000 in May – but it delivered just 679 cars in the second quarter. In February, it said that it expected to build between 12,000 and 14,000 vehicles in 2022, down from an original forecast of 20,000.It cut its full-year deliveries guidance for a second time, saying that it now expects to deliver just 6,000 to 7,000 vehicles in 2022, and announced a new senior executive to lead operations.Lucid's shares fell about 12% in after-hours trading following the news.The announcements came as Lucid reported its second-quarter results. Here are the key numbers:Revenue: $97.3 millionLoss per share: 33 centsVehicles delivered: 679""Our revised production guidance reflects the extraordinary supply chain and logistics challenges we encountered,"" CEO Peter Rawlinson said in a statement. ""We've identified the primary bottlenecks, and we are taking appropriate measures – bringing our logistics operations in-house, adding key hires to the executive team, and restructuring our logistics and manufacturing organization.""Earlier this year, Lucid cited supply chain issues around semiconductor chips as well as basic components like glass and carpet as reasons for the reduction.Rawlinson told CNBC in an interview that the process of working through the supply-chain issues forced the company to confront another set of bottlenecks.""It really unveiled the next level of challenges, the immaturity of our logistics systems,"" Rawlinson said, explaining that Lucid is in the process of bringing shipping and other services in-house.To help address the issues, Lucid announced Wednesday it's hired Stellantis veteran Steven David to serve as its senior vice president of operations, taking charge of the company's manufacturing, logistics and quality-control efforts.CFO Sherry House told CNBC that the company's reservation total of 37,000 does not include any reservations for its upcoming Gravity SUV or any of the vehicles ordered by the government of Saudi Arabia.Lucid said in April that Saudi Arabia's government had agreed to buy up to 100,000 of its vehicles over the next 10 years. The country's public wealth fund is a major investor in Lucid, holding roughly 62% of the company's shares.Lucid had $4.6 billion in cash and equivalents as of the end of the second quarter, down from $5.4 billion at the end of March but enough to fund operations ""well into 2023,"" House said.This is a developing story. Please check back for updates.",EV maker Lucid again cuts production targets as logistics challenges cripple output.
"A 3D printed natural gas pipeline is placed in front of displayed Gazprom logo and Russian flag in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Canadian, EU and UK sanctions make delivery of a Siemens (SIEGn.DE) turbine to the Nord Stream 1 pipeline's Portovaya compressor station impossible, Russia's Gazprom (GAZP.MM) said on Wednesday.German Chancellor Olaf Scholz had earlier said the Siemens 073 turbine, which has been cited as being at the heart of reduced Russian gas supplies via the Nord Stream 1 pipeline, remains in Germany after maintenance.""The sanctions regimes of Canada, the EU, the UK and a mismatch of the current situation with the existing contractual obligations by the Siemens side make delivery of the 073 engine to the Portovaya compressor station impossible,"" Gazprom said.Register now for FREE unlimited access to Reuters.comThe Russian energy giant has cut the flows to only a fifth of the pipeline's capacity, citing technical issues and a need for repair of the pipeline turbines.Chancellor Scholz on Wednesday said Russia had no reason to hold up return of the Nord Stream 1 turbine that had been serviced in Canada but has since been stranded in Germany in an escalating energy standoff.Kremlin spokesman Dmitry Peskov pushed back against Scholz's remarks on Wednesday, blaming a lack of documentation for holding up the turbine's return to Russia. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters
Editing by Guy Faulconbridge and David GoodmanOur Standards: The Thomson Reuters Trust Principles.",Russia's Gazprom: sanctions make delivery of Nord Stream turbine impossible.
"Multiple trends point to no recession in the first halfThe economy may be showing a classic recession sign, but it doesn't feel that way for the jobs market.Multiple data points regarding employment in the first half of the year don't mesh with what usually happens during recessions, according to research that CNBC's Steve Liesman gathered.For one, payrolls usually decline during downturns, when they actually rose in the first of the year. Personal consumption also grew at a solid pace in the first six months, in contras with historical recession trends.Still, GDP fell 1.6% in the first quarter and 0.9% in the second quarter, meeting a common definition of a recession.—Jeff CoxStocks near session highs in last hour of trading All three major averages continued their rallies, aiming to erase losses from a two-day slide earlier in the week, as stocks started their final hour of trading Wednesday. The Nasdaq Composite led gains, up 2.69%. The S&P 500 rose 1.75% and the Dow Jones Industrial Average added 478 points, or 1.48% —Carmen ReinickeDisney, Apple lead Dow gainsThe top stocks in the Dow Jones Industrial Average on Wednesday are two household names: Disney and Apple. Shares of Disney rose more than 4%, making it the Dow's top performer. It was followed closely by Apple, which ticked up nearly 4% during Wednesday's session. It appeared both stocks were lifted by positive market sentiment and an overall earnings season that has not been as bad as analysts feared. Apple reported quarterly results last week that beat expectations on profit and revenue. Disney is scheduled to report its quarter next week. —Carmen ReinickeModerna, PayPal lead Nasdaq higher A broad rally on Wall Street is being led by the Nasdaq Composite, which has jumped 2.6% today.The top mover among major Nasdaq stocks is Moderna, which surged 16% on the back of a blowout earnings report. That move appears to be boosting other biotech stocks, with Gilead and Regeneron rising 6.1% and 5.8%, respectively.Elsewhere, PayPal has gained more than 8% after the payments company reported strong earnings and a new information-sharing agreement with activist firm Elliott Management.— Jesse PoundS&P 500 now up 13% from June low as Wall Street's rebound gets back on trackThe July rally for Wall Street appears to have resumed, as the S&P 500 is now up more than 13% from its recent low on June 16.At its June low, the S&P 500 was down more than 23% from its record high, putting it firmly in bear market territory.Now, the index is down about 13.4% from its high watermark.The rally for stocks has also been accompanied by a rebound for bonds. The benchmark 10-year Treasury was trading near 2.77% on Wednesday, down from nearly 3.5% in mid-June.— Jesse PoundS&P 500 erases losses from earlier in the week The S&P 500 rallied up 1.61% Wednesday, hitting its highest level since June. The gains also erased all losses from the average's two-day slide earlier in the week. —Carmen ReinickeFord rises on solid July sales figuresFord's Chief Financial Officer (CFO), John Lawler and Linda Zhang, Chief Engineer for the company's All Electric F-150 Lightning participate in the opening bell ceremony at the New York Stock Exchange (NYSE) in New York City, New York, U.S., April 28, 2022. Brendan Mcdermid | ReutersShares of Ford gained more than 3% in intraday trading Wednesday after the automaker released its July sales figures. The report showed new vehicle sales increased 36.3% on the year, where industry-wide estimates anticipated a slowdown.—Carmen ReinickeOil falls on surprise U.S. supply increase, drop in gasoline demandJohn Kilduff of Again Capital called gasoline demand ""depressed,"" even though prices have been falling.Kilduff said some traders had expected OPEC plus to add more oil to the market, but OPEC leader Saudi Arabia is near capacity. ""The Saudis are actually pumping at the highest level since March, 2020. Over 11 million barrels a day,"" Kilduff said.—Patti DommStocks near session highs at middayAll three major averages were near session highs midday Wednesday, shaking off a two-day slide. The Dow Jones Industrial Average was up 336 points, or 1.04%. The S&P 500 gained 1.25% and the tech-heavy Nasdaq Composite increased 2.11%. —Carmen ReinickeStocks could retest June lows, Evercore ISI's Julian Emanuel saysEvercore ISI's Julian Emanuel doesn't think we've seen the bottom yet in the bear market, and will once again challenge June lows, even as investors remain 'complacent' after last month's rally.The strategist believes investors are overly optimistic, pointing to elevated options and meme stock trading, given slowing growth and troubling signs in bond yields that indicate more trouble ahead for equity markets.""The falling yield story has likely run its course and that too, is a headwind for stocks, but the options market is telling you that people just aren't really concerned about too much,"" Emanuel said on CNBC's ""Squawk on the Street.""""And that to us is much more typical of sort of late cycle August coming into September, which tends to be a dangerous month, type of behavior,"" he added.— Sarah MinRobinhood stock jumps after analysts say layoffs will improve profitability Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021.Brendan McDermid | ReutersShares of Robinhood surged more than 13% Wednesday, just a day after the company announced it would lay off about 23% of its workforce. It is the second time the company has said in recent months it will trim staff - it also cut 9% of its workforce in April.But those job cuts will help the company going forward, boosting profitability and shares, analysts argued in notes following the news.Read more on CNBC PRO.—Carmen ReinickeTechnicals point to June low marking the start of a new bull market, Ned Davis data showsChances of the June low being the start of a new bull market are increasing, data compiled by Ned Davis Research shows.The firm noted that several breadth indicators show that the market's performance since hitting an intraday low on June 17 is more indicative of a new bull starting — rather than another bear market rally. The S&P 500 is up more than 12% in that time frame.Check out the full story on CNBC Pro.—Fred ImbertBond yields continue big move higher on hawkish Fed, better services dataTreasury yields are continuing a rapid march higher, on hawkish comments from multiple Federal Reserve officials and after stronger-than-expected data on the services sector.The benchmark 10-year yield was at a high of 2.81%, continuing the bounce started right after it touched a low of 2.52% Tuesday morning. That yield was ended last week at 2.65%. The 2-year yield, which most closely follows Fed policy, was at 3.14%, up sharply from Friday's close of 2.89%.""I think really the story here is markets were really embracing the idea that we're going to have an imminent recession,"" said Jan Nevruzi, NatWest Markets rate strategist. ""That is just not showing up.""ISM Services, released at 10 a.m. ET, came in above estimates at 56.7 from 55.3 in June.Fed officials continued their hawkish comments Wednesday, after a parade of speakers drove rates sharply higher Tuesday. St. Louis Fed President James Bullard told CNBC Wednesday that he wants rates to get to 3.75%-4.00% this year.  That would be higher than the current Fed forecast for 3.25%-3.5%. The futures market had been pricing for a Fed pause in hiking but Fed officials have made clear their work is not done and inflation is still high. Bullard also said he does not currently see a recession. Some bond strategists said they believe yields may have set a near-term low Tuesday.—Patti DommStocks hit session highs after strong ISM reportThe major averages built on their earlier gains after the release of stronger-than-expected U.S. services data. The Dow Jones Industrial Average traded more than 200 points higher, or 0.8%. The S&P 500 gained 1%, and the Nasdaq Composite rallied 1.8%. —Fred ImbertServices data shows surprise reboundInvestors received some positive economic news on Wednesday morning. The ISM non-manufacturing purchasing managers index showed a surprise rebound in July. The reading came in at 56.7, above 55.3 in June. Economists surveyed by Dow Jones were expecting 54. June factory orders also came in better than expected, rising 2%. Economists surveyed by Dow Jones were expecting a gain of 1.2%.— Jesse PoundMeme stock mania makes a comeback?Wild trading in an obscure Hong Kong-based fintech firm is turning heads on Wall Street and sparking conversations about meme stock mania again.AMTD Digital saw its shares skyrocket 126% Tuesday alone after experiencing a series of trading halts. It's a subsidiary of investment holding firm AMTD Idea Group, went public in mid-July with its American depositary receipts trading on the NYSE. Two weeks later, the stock is up 21,400% to $1,679 apiece from its IPO price of $7.80.""As we've learned over the past two years, events like this cause what I would say is opportunities for profit but great risk for loss particularly for our retail investors,"" Jay Clayton, former SEC chairman, said on CNBC's ""Squawk Box"" Wednesday.— Yun LiStocks rise at market open Stocks were higher at Wednesday's open, rebounding after two days of losses. The S&P 500 gained 0.73%, the Nasdaq Composite rose 1.19% and the Dow Jones Industrial Average increased 221.31 points, or 0.68%. — Carmen ReinickeOPEC+ set to increase oil production by tiny amount OPEC and its allies on Wednesday agreed to raise oil production by a small amount, 100,000 barrels per day, in response to President Joe Biden's trip to Saudi Arabia last month. During the visit, Biden had aimed to persuade the group's leader to pump more oil to help the U.S. economy and global supply. The miniscule raise is seen as a rebuff. — Carmen ReinickeStarbucks shares tick up after earnings release Starbucks barista Brick Zurek, standing in front of the downtown Starbucks on Wabash Avenue, on May 11, 2022, has been organizing for union representation with Starbucks Workers United. The Wabash Avenue location was the first Starbucks in Chicago to file for union representation with the National Labor Relations Board. (Chris Sweda/Chicago Tribune/Tribune News Service via Getty Images)Chris Sweda | Tribune News Service | Getty ImagesShares of Starbucks gained nearly 2% in premarket trading after the coffee chain posted quarterly earnings Tuesday after the bell. The company beat expectations on earnings and revenue, boosted by U.S. demand for cold drinks even amid high inflation.""We had actually record customer counts and record average weekly sales,"" during the last quarter, Rachel Ruggeri, Starbucks chief financial officer, said on CNBC's ""Squawk Box.""— Carmen ReinickeModerna rises after beating earnings expectationsShares of Moderna rose nearly 4% in premarket trading after the covid-19 vaccine maker posted quarterly results that beat Wall Street's expectations for both profit and revenue. In addition, the company announced $3 billion in share buybacks, and maintained its full-year outlook.— Carmen ReinickePotential earnings revisions are a risk for second half, RBC's Calvasina says This earnings season, results have generally come in higher than Wall Street's expectations, showing that companies are faring current economic conditions better than analysts hoped, RBC head of U.S. equity strategy Lori Calvasina wrote in a Wednesday note. ""The good news for the US equity market is that evidence of resilience continues to be seen in corporate earnings,"" Calvasina said. ""The bad news for the US equity market is that the possibility of further downward earnings revisions remains a risk as we get deeper into the 2 nd half of the year.""So far, estimates for earnings and revenue in the second half of 2022 and for the full-year 2023 have come down. Still, the strength of corporate earnings this quarter may suggest that any upcoming economic downturn will be short and shallow, according to Calvasina. That's good for stocks now, but could set them up for further volatility. ""That's been supportive of stock prices over the past few weeks, but going forward it also tells us that the rally in stocks is fragile given the possibility of further downward earnings revisions as 2023 comes into view,"" she said. — Carmen ReinickeCVS gains on earnings beatShares of CVS Health rose more than 3% in premarket trading after the company reported better-than-expected quarterly earnings before the opening bell. The company also lifted its earnings outlook for the year, saying health services is helping boost sales. — Carmen ReinickePelosi leaves TaiwanHouse Speaker Nancy Pelosi left Taiwan on Wednesday after a visit that increased tensions with China and rattled financial markets a bit.Pelosi met with Taiwan President Tsai Ing-wen on Wednesday. China, which considers the disputed island part of its territory, increased military drills in the Taiwan strait amid her visit. The S&P 500 is down about 1% this week as traders worried about the ramifications of Pelosi's trip for China relations. But the market was set for a bit of a relief rally on Wednesday following her departure.—John MelloyAMD shares fall on weak revenue guidanceShares of AMD traded 5% lower in the premarket after the chipmaker issued third-quarter revenue guidance that was below analyst expectations. AMD said it expects $6.7 billion in revenue for the third quarter, below a Refinitiv forecast of $6.82 billion.The disappointing guidance overshadowed better-than-expected earnings and revenue for the second quarter. —Fred ImbertEuropean markets mixed as cautious sentiment persists; Avast up 42%European stocks were mixed on Wednesday, continuing the cautious regional trend this week.The pan-European Stoxx 600 slipped 0.2% in early trade, with autos falling 1.5% while tech stocks gained 1.2%.It's a busy day for earnings in Europe, with Commerzbank, SocGen, BMW, Banco BPM, Siemens Healthineers, Veolia and Wolters Kluwer among the companies reporting before the bell.Shares of Czech cybersecurity firm Avast soared 42% after the U.K.'s competition regulator provisionally cleared its $8.6 billion sale to U.S. peer NortonLifeLock.— Elliot SmithFocus on data, not what Fed speakers are saying, Art Hogan saysDespite the ""parade of Fed speakers,"" that's not what investors should focus on, according to Art Hogan, chief market strategist at B. Riley Financial.""I think that investors have to pay more attention to what the data is telling us than what every individual Fed speaker, whether they're a voter or not, has to say about what our expectations should be,"" Hogan told CNBC's ""Squawk Box Asia.""Still, he said Fed officials have been able to shift expectations for where Fed policy is heading.St. Louis Federal Reserve President James Bullard on Tuesday said the central bank will need to keep hiking rates, and the Fed funds rate likely will have to go to 3.75%-4% by the end of 2022. San Francisco Fed President Mary Daly said ""our work is far from done"" in fighting inflation, while Chicago Fed President Charles Evans said another large rate hike is possible, though he hopes it can be avoided.After last week's meeting, some expected the Fed would continue hiking to reach 3.25%-3.5% before pivoting in 2023, Hogan said.""I think the parade of Fed speakers this week has done a pretty good job of pulling that back, tamping down those expectations,"" he said.— Abigail NgThese stocks are poised for a comeback if inflation peaks, Jefferies saysA slowdown could be on the horizon, and more earnings downgrades ahead have been predicted. If inflation also peaks, as some analysts expect it to, that mix of factors will favor one class of stocks, Jefferies says.Jefferies produced a screen of such stocks that investors can buy, based on a list of metrics which include high profitability, reasonable valuations and good cashflows. Pro subscribers can read the story here.— Weizhen TanPayPal rises on earnings, share buyback announcementPayPal shares soared by more than 11% after hours. The payments company beat analysts' earnings and revenue estimates for the second quarter and issued upbeat full-year guidance. PayPal also announced a $15 billion share repurchasing program.Stock buybacks provide a way for companies to boost their per-share earnings and enhance the value of their stock, particularly while the market across the board suffers steep price declines this year. The company kicked off a $10 billion program four years ago.Elliott Management said it has a $2 billion stake in the payments giant. PayPal announced that it entered an information-sharing agreement on value creation with the activist investor.— Tanaya MacheelDespite Fedspeak about fighting inflation, an ‘easing cycle’ is emerging says Leuthold’s Jim PaulsenLeuthold Group chief investment strategist Jim Paulsen said that despite the Federal Reserve's ""ongoing lip service toward fighting inflation"" by tightening monetary policy, there are several factors that suggest the market may be entering an ""emerging easing cycle.""Bond yields have achieved a sizable rate cut, the dollar is finally rolling over and junk spreads have pulled back, he said in a note to investors late Tuesday. ""The media, policy officials, and investors focus primarily on the war against inflation and how aggressively the Fed will need to keep hiking rates,"" Paulsen said. ""Yet, with real economic growth already reduced to a crawl and evidence building that inflation is easing, the case for further Fed tightening at its September meeting is rapidly falling apart.""""Investors should place appropriate weight on the leading nature of economic policies,"" he added. ""Tightening today means lower real and nominal growth tomorrow.""— Tanaya MacheelMatchGroup shares tumble after hoursShares of the dating app operator Match Group tumbled as much as 23% after the company reported revenue of $795 million for the second quarter, compared with FactSet estimates of $803.9 million. Match also issued weak guidance around adjusted operating income and revenue for the current quarter.— Tanaya Macheel","Stocks rally to reverse two-day slide, surging on rosy earnings results and economic data."
"Register now for FREE unlimited access to Reuters.comSummaryOPEC to raise output target by 100,000 bpd from SeptOPEC faces output problems to meet existing targetsU.S. seeking higher OPEC production to counter RussiaBiden trip, U.S arms sales failed to persuadeDUBAI/LONDON, Aug 3 (Reuters) - OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was a setback to U.S. President Joe Biden after his trip to Saudi Arabia to ask the producer group's leader to pump more to help the United States and the global economy.The increase, equivalent to 0.1% of global demand, follows weeks of speculation that Biden's trip to the Middle East and Washington's clearance of missile defence system sales to Riyadh and the United Arab Emirates will bring more oil to the world market.""That is so little as to be meaningless. From a physical standpoint, it is a marginal blip. As a political gesture, it is almost insulting,"" said Raad Alkadiri, managing director for energy, climate, and sustainability at Eurasia Group.Register now for FREE unlimited access to Reuters.comThe increase of 100,000 bpd will be one of the smallest since OPEC quotas were introduced in 1982, OPEC data shows.""This is a smaller increase but an increase nonetheless,"" Amos Hochstein, senior U.S. State Department adviser for energy security, told CNN.Hochstein said OPEC had already delivered larger increases in two of the three previous months.""I think we're focused much more on the bottom line, and that is reducing the price of oil in the market,"" Hochstein said, adding that U.S. gasoline prices fell well below $4 per gallon.The Organization of the Petroleum Exporting Countries and its allies, led by Russia, a group known as OPEC+ that formed in 2017, had been increasing production by about 430,000-650,000 bpd a month, as they unwound record supply cuts introduced when pandemic lockdowns choked off demand.They had, however, struggled to meet full targets as most members have exhausted their output potential following years of under-investment in new capacity.Combined with disruption linked to Russia's invasion of Ukraine in February, the lack of spare supply has driven up energy markets and spurred inflation.REPAIRING TIESWith U.S. inflation around 40-year highs and Biden's approval ratings under threat unless gasoline prices fall, the president travelled to Riyadh last month to mend ties with Saudi Arabia, which collapsed after the murder of journalist Jamal Khashoggi four years ago.A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSaudi de-facto ruler, Crown Prince Mohammed bin Salman, whom Western intelligence accused of being behind the Khashoggi murder - which he denies - also travelled to France last month as part of efforts to rebuild ties with the West.On Tuesday, Washington approved $5.3 billion worth of defensive missile system sales to the UAE and Saudi Arabia but it has yet to roll back its ban on offensive weapon sales to Riyadh.OPEC+, which will next meet on Sept. 5, said in a statement that limited spare capacity requires it to be used with great caution in response to severe supply disruptions.It also said a chronic lack of investment in the oil sector will impact adequate supply to meet growing demand beyond 2023.Sources within OPEC+, speaking on condition of anonymity, also cited a need for cooperation with Russia as part of the wider OPEC+ group.""(This decision) is to calm down the United States. And not too big that it upsets Russia,"" said an OPEC+ source.Benchmark Brent oil futures jumped by around $2 per barrel after OPEC's decision to trade close to $101 per barrel.Shortly after Russia's invasion of Ukraine, which Moscow terms a ""special military operation"", oil prices rose to their highest in 14 years.By September, OPEC+ was meant to have wound down all of the record production cuts it implemented in 2020 in response to the impact of the pandemic.But by June, OPEC+ production was almost 3 million barrels per day below its quotas as sanctions on some members and low investment by others crippled its ability to boost output.Only Saudi Arabia and the UAE are believed to have some spare capacity.French President Emmanuel Macron has said he had been told that Saudi Arabia and the UAE had very limited ability to increase oil production.Register now for FREE unlimited access to Reuters.comAdditional reporting by Alex Lawler, Rowena Edwards, Tamara Vaal and Mariya Gordeyeva; editing by Jason Neely, Emelia Sithole-Matarise, Barbara Lewis and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",OPEC+ agrees tiny output rise in setback for Biden.
"A woman wearing a hijab walks at Trocadero square near the Eiffel Tower in Paris, France, May 2, 2021. REUTERS/Gonzalo Fuentes/FilesRegister now for FREE unlimited access to Reuters.comPARIS, Aug 3 (Reuters) - A United Nations committee ruled that France discriminated against a Muslim woman who was prevented from attending vocational training in a public school while wearing her Islamic head scarf, according to a U.N. document.In 2010, Naima Mezhoud, now aged 45, was due to train as a management assistant at a course held in a state high school, where teenagers are prohibited by law from wearing the hijab. When she arrived, the head teacher of the school in the northern outskirts of Paris barred her from entering, according to the document which was seen by Reuters.Six years earlier, in 2004, France had banned the wearing of hijabs and other visible religious symbols in state schools by school children. Mezhoud argued that as a higher-education student, she should not have been targetted by the law.Register now for FREE unlimited access to Reuters.com""The committee concludes that the refusal to allow (Mezhoud) to participate in the training while wearing her headscarf constitutes a gender and religious-based act of discrimination,"" the U.N Human Rights Committee determined, according to the document.A U.N. source confirmed the authenticity of the document.The interior ministry and foreign ministry did not immediately respond to a request for comment.The possible ramifications of the U.N.'s ruling were not immediately clear. Freedom law expert Nicolas Hervieu of the Paris Institute of Political Studies said that according to legal precedent, it was unlikely that France would comply with the committee's decision.France is home to one of Europe’s largest Muslim minorities. For years, the country has implemented laws designed to protect its strict form of secularism, known as “laicité,” which President Emmanuel Macron has said is under threat from Islamism.Some Muslim associations and human-rights groups allege those laws have targeted Muslims and chipped away at democratic protections and left them vulnerable to abuse.Mezhoud approached the U.N. Human Rights Committee after she lost a series of appeals in French courts.The committee said France had breached articles 18 and 26 of the International Covenant on Civil and Political Rights on religious freedom.Mezhoud's lawyer, Sefen Guez Guez, told Reuters the decision showed that international human-rights institutions were critical of France's policies regarding Islam.""French institutions will have to comply with the U.N. decision,"" he added.In theory, following the U.N. committee's ruling, France now has six months to financially compensate Mezhoud and offer the opportunity to take the vocational course if she still wishes. The country also must take steps to ensure similar violations of international law will not happen again.Register now for FREE unlimited access to Reuters.comReporting by Juliette Jabkhiro in Paris
Editing by Richard Lough and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",France discriminated against hijab-wearing vocational trainee -U.N. document.
"U.S. Senate Majority Leader Chuck Schumer (D-NY) at the U.S. Capitol in Washington, U.S. August 2, 2022. REUTERS/Jonathan Ernst/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. Senate was due to vote on Wednesday on Finland and Sweden's accession to NATO, the most significant expansion of the 30-member alliance since the 1990s as it faces the fallout from Russia's invasion of Ukraine.The 100-member Senate was expected to easily surpass the two-thirds majority of 67 votes required to support ratification of the two countries' accession documents.Most Democrats and Republicans have expressed strong support for the expansion. Last month, the Senate Foreign Relations Committee backed ratification by voice vote, with just one of the panel's 22 members opting to vote present. read more Register now for FREE unlimited access to Reuters.comSenate Majority Leader Chuck Schumer invited the ambassadors and other diplomats from the two countries to Washington to watch the debate and vote.""The NATO vote is a very important vote for American security around the world. Finland's and Sweden's membership will strengthen NATO even further, and is all the more urgent given Russian aggression,"" Schumer said in remarks opening the Senate on Wednesday.Finland and Sweden applied for NATO membership in response to the invasion of Ukraine by Russia, which has repeatedly warned both against joining the alliance.NATO's 30 allies signed the accession protocol for them last month, allowing them to join the nuclear-armed alliance once its members ratify the decision. read more At that point, Helsinki and Stockholm were able to participate in NATO meetings and have greater access to intelligence, but were not protected by Article Five, the NATO defense clause stating that an attack on one ally is an attack against all.The accession needs to be ratified by the parliaments of all 30 North Atlantic Treaty Organization members before Finland and Sweden can be protected by the defense clause. Ratification could take up to a year.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",U.S. Senate expected to approve Finland and Sweden joining NATO.
"Anti-abortion activists demonstrate outside the Supreme Court of the United States in Washington, June 13, 2022.Evelyn Hockstein | ReutersResidents of Georgia may now claim embryos as dependents on their state income tax returns.Any ""unborn child with a detectable human heartbeat,"" may qualify for a $3,000 state income tax deduction for 2022, effective July 20, according to guidance released by the state's Department of Revenue.The announcement follows the U.S. Supreme Court's decision to overturn Roe v. Wade, ending the federal right to abortion, triggering bans in Georgia and elsewhere.More from Personal Finance:Roe v. Wade decision will financially hurt the ‘most marginalized’ womenHow Supreme Court’s Roe v. Wade decision could affect health insuranceCalculators can help measure how Social Security cuts may affect youWhile it's unclear whether other states will follow, jurisdictions do tend to copy one another, said Richard Auxier, senior policy associate at the Urban-Brookings Tax Policy Center. ""It is an anti-abortion piece of legislation,"" he said, explaining how the tax break won't support most lower-income families.Typically, tax deductions are less valuable than tax credits because they are more difficult to claim, and many filers take the standard deduction rather than itemizing, Auxier said. ""For most low-income families, there is no benefit at all,"" he said. ""And for the rest of them, we're talking tens of dollars.""Deduction intricacies are a 'tax person's nightmare'With limited details, the announcement also leaves many unanswered questions among tax professionals. ""This is a situation where we may have to have some really, really uncomfortable conversations, particularly if things didn't go well,"" said Adam Markowitz, an enrolled agent and vice president at Howard L Markowitz PA, CPA. Financial experts have asked which parent may claim the deduction, what happens with multiple births or the if pregnancy ends in a miscarriage.""It's a tax person's nightmare,"" Markowitz added.The policy also raises questions about how tax policy defines ""dependents"" since the tax code doesn't reflect what many families actually look like, Auxier said.With unmarried parents living in separate households, it may be complicated to figure out who receives the benefit, he said.How to provide 'supporting documentation'The guidance says ""relevant medical records"" or other ""supporting documentation"" must be provided if requested by the Department of Revenue. But it's unclear exactly what may be required.""High-income families have the resources to go ask their primary care physician for the supporting documents,"" Auxier said. ""But most families aren't going to have the time or money to schedule yet another appointment.""The Georgia Department of Revenue said more information, including tax return instructions for claiming the tax break for an ""unborn child with a detectable heartbeat"" will come later this year.","Embryos can count as dependents on Georgia state tax returns: For many families 'there is no benefit at all,' says analyst."
"MoneyWatch August 3, 2022 / 2:58 PM / AP Warner Bros. has axed the $90 million ""Batgirl"" film planned for HBO Max, according to a person connected with the film who was not authorized to speak publicly about it. The decision was highly unusual for such a high-priced movie in the final stages of completion. But the studio ultimately decided ""Batgirl"" didn't merit either a streaming debut or a theatrical release, and has instead opted to entirely write off the film starring ""In the Heights"" star Leslie Grace as Batgirl and co-starring Michael Keaton (returning as Batman), J.K. Simmons and Brendan Fraser. It was directed by Adil El Arbi and Bilall Fallah. Production wrapped in April. Warner Bros.' decision, one without any obvious parallel in Hollywood history, sent shockwaves through the industry. When a big-budget movie doesn't meet a studio's expectations, it's typically sold off or dumped quietly with little fanfare. ""Batgirl,"" greenlit before WarnerMedia's merger with Discovery Inc., will instead simply not see the light of day after reportedly poor test screenings. ""We are saddened and shocked by the news. We still can't believe it,"" El Arbi and Fallah said in a statement Wednesday. ""As directors, it is critical that our work be shown to audiences, and while the film was far from finished, we wish that fans all over the world would have had the opportunity to see and embrace the final film themselves. Maybe one day they will insha'Allah (if God wills)."" The directors signed their statement, posted on Instagram, ""Batgirl For Life."" Warner strategy shiftUnder new Warner Bros. Discovery chief executive David Zaslav, Warner Bros. is shifting its strategy on film releases and trimming costs. Under previous chief executive Jason Kilar and partly as a pandemic response, the studio implemented day-and-date releases in 2021, opening films simultaneously in theaters and on HBO Max. Other films, like ""Batgirl,"" were produced solely for HBO Max. This year, Warner Bros. has returned to exclusive theatrical windows for at least 45 days before sending movies to HBO Max. While ""Batgirl"" isn't as pricey as many superhero films, which typically cost $150-200 million to make, it's a bigger budget movie for an HBO Max title. Zaslav has maintained larger budgeted movies are best served by a theatrical rollout. But marketing a movie like ""Batgirl"" for that kind of release would require tens of millions more. Warner Bros. Discovery is set to report second-quarter earnings Thursday. Representatives for Warner Bros. and Warner Bros. Discovery declined to comment. The ""Batgirl"" plans were first reported by the New York Post. Warner Bros. also shelved ""Scoob!: Holiday Haunt,"" an almost-completed sequel to 2020's ""Scoob!"" Producer and writer Tony Cervone confirmed in an Instagram post Tuesday that the ""Scoob!"" film was canned. ""Yes I am afraid this is true,"" wrote Cervone. ""The movie is practically finished and turned out beautifully. I am beyond heartbroken.""The ""Batgirl"" cancellation comes as Warner Bros. is trying to revamp its DC Films operations. While ""The Batman"" earlier this year performed well with $770.8 million in ticket sales, Warners' DC releases have been erratic and plagued by controversy. ""The Flash,"" scheduled for release next June, stars Ezra Miller who has been arrested twice this year in Hawaii, in a disorderly conduct case and on suspicion of assault.Warner Bros. is hoping to reorganize and reset its DC pipeline — going bigger, not smaller with its rival Marvel. Ultimately, ""Batgirl"" didn't suit those plans. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Warner Bros. axes ""Batgirl,"" won't release $90 million HBO Max film."
"Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 3 (Reuters) - A former Coinbase Global Inc (COIN.O) product manager and his brother pleaded not guilty on Wednesday to wire fraud charges in what U.S. prosecutors called the first insider trading case involving cryptocurrency.Ishan Wahi, 32, the former product manager, was arrested last month in Seattle on charges he shared confidential information with his brother Nikhil and their friend Sameer Ramani about forthcoming announcements of new digital assets that Coinbase would allow users to trade.Nikhil Wahi also pleaded not guilty during an arraignment on Wednesday in Manhattan federal court before U.S. District Judge Loretta Preska. Ramani, who was also charged, is at large.Register now for FREE unlimited access to Reuters.comProsecutors said Nikhil Wahi and Ramani used ethereum blockchain wallets to acquire the assets and traded at least 14 times before Coinbase announcements in June 2021 and April 2022. The announcements typically caused the assets to rise in value and generated at least $1.5 million in illicit gains, prosecutors said. read more Coinbase is one of the world's largest cryptocurrency exchanges.David Miller, a lawyer for Ishan Wahi, said the charges should be dismissed because insider trading needs to involve securities or commodities and this case did not.Miller also said Coinbase tested new tokens before it publicly listed them, meaning the information his client was accused of sharing was not confidential.Noah Solowiejczyk, a prosecutor, countered that the information was nonpublic and the prosecution was consistent with previous wire fraud cases.U.S. regulators are weighing how to oversee cryptocurrency trading.Coinbase did not immediately respond to a request for comment. Last month, the company said it had shared with prosecutors its findings from an internal probe into the trading.Bail for the Wahi brothers was set at $1 million each. Their next court appearance is scheduled for March 22. The U.S. Securities and Exchange Commission has filed related civil charges against them.Register now for FREE unlimited access to Reuters.comReporting by Luc Cohen in New York
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Coinbase ex-manager pleads not guilty to insider trading charges.
"It has been a rough month for the crypto sector, and it's only the third day of August.From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto Ponzi schemes, this corner of the market can't catch a break.The developments add to an already torrid year for the crypto market, which has seen huge declines as fears around tightening monetary policy and a lack of liquidity set in.The flood of news is difficult for even insiders to track, so here's a rundown of what you've missed since Monday.MondayThe U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022.Al Drago/Bloomberg via Getty ImagesThe Securities and Exchange Commission on Monday filed a civil complaint charging 11 people in the creation and promotion of an allegedly fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.The scheme, called Forsage, claimed to be a decentralized smart contract platform, allowing millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron and binance blockchains. The SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation. In the SEC's formal complaint, Wall Street's top watchdog calls Forsage a ""textbook pyramid and Ponzi scheme,"" in which Forsage aggressively promoted its smart contracts through online promotions and new investment platforms, all while not selling ""any actual, consumable product."" The complaint adds that ""the primary way for investors to make money from Forsage was to recruit others into the scheme.""The SEC said Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit, wrote in a news release.""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Forsage, through its support platform, declined to provide a method for contacting the company and did not offer comment.Four of the 11 people charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia and Indonesia.Three of the 11 people are U.S.-based individuals charged as promoters who endorsed Forsage on their social media platforms: Samuel D. Ellis, of Louisville, Kentucky, Mark F. Hamlin, of Henrico, Virginia, and Sarah L. Theissen, of Hartford, Wisconsin. Ellis and Theissen, neither of whom admitted nor denied the allegations, agreed to settle the charges, subject to court approval.Forsage was launched in January 2020. Regulators around the world have tried a couple of times to shut it down. Cease-and-desist actions were brought against Forsage first in September 2020 by the Securities and Exchange Commission of the Philippines. In March 2021, Montana's commissioner of securities and insurance tried the same. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.TuesdaySo-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance.Jakub Porzycki | NurPhoto | Getty ImagesCrypto startup Nomad lost almost $200 million in a devastating security exploit. Nomad is known as a ""bridge,"" where users can transfer tokens from one blockchain to another. Hackers exploited a security flaw that let users enter any value into the system and siphon off the funds, even if there weren't enough assets available in Nomad's deposit base.The nature of the bug meant that users didn't need any programming skills to exploit it. Others caught on and deployed armies of bots to carry out copycat attacks.""Without prior programming experience, any user could simply copy the original attackers' transaction call data and substitute the address with theirs to exploit the protocol,"" said Victor Young, founder and chief architect of crypto startup Analog.""Unlike previous attacks, the Nomad hack became a free-for-all where multiple users started to drain the network by simply replaying the original attackers' transaction call data.""Blockchain bridges are a popular way of moving tokens off networks such as ethereum, which has gained a reputation for slow transaction times and high fees, into cheaper, more efficient blockchains. But sloppy programming choices have made them a prime target for hackers seeking to swindle investors out of millions. More than $1 billion worth of crypto has been lost to bridge exploits so far in 2022, according to blockchain analysis firm Elliptic.""I can only hope that developers and projects will learn that they are running a critical piece of software,"" Adrian Hetman, tech lead at Web3 security firm Immunefi, told CNBC.""They need to keep the security first, be security first at every business decision because they are dealing with people's money; a lot of that money is locked in those contracts.""Nomad said it's working with crypto security firm TRM Labs and law enforcement to trace the movement of funds, identify the perpetrators behind the attack and return stolen tokens to users.""Nomad is committed to keeping its community updated as it learns more in the coming hours and days and appreciates all those who acted quickly to protect funds,"" the company said in the statement.Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy's balance sheet as part of an unorthodox treasury management strategy.Eva Marie Uzcategui | Bloomberg | Getty ImagesLater Tuesday, MicroStrategy announced CEO Michael Saylor is leaving his role to become executive chairman of the company. The company's president, Phong Le, will take the reins from Saylor.Saylor has been the CEO since he launched the company in 1989. MicroStrategy went public in 1998.MicroStrategy's stock is down over 48% this year. Bitcoin is down over 51% during that same time period.""I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business,"" Saylor said in a news release. ""As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations."" The news came as the company announced its second-quarter earnings, in which its total revenues dropped by 2.6% compared with a year ago. The company also reported an impairment charge of $918 million on the value of its digital assets, presumably primarily bitcoin.MicroStrategy may technically be in the business of enterprise software and cloud-based services, but Saylor has said the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S.""We're kind of like your nonexistent spot ETF,"" Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami in April.Late Tuesday, early WednesdaySolana logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on August 21, 2021.Jakub Porzycki | NurPhoto | Getty ImagesAnd then on Tuesday night, unknown attackers came after hot wallets connected to the solana blockchain.Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins, including solana's sol token and USD coin, according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic's estimate is slightly higher at 7,936 wallets.Solana's sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It's currently down about 1%, while trading volume is up about 105% in the last 24 hours.Starting Tuesday evening, multiple users began reporting that assets held in ""hot"" wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds.Phantom said on Twitter that it's investigating the ""reported vulnerability in the solana ecosystem"" and doesn't believe it's a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets ""across a wide variety of platforms.""Elliptic chief scientist Tom Robinson told CNBC the root cause of the breach is still unclear, but ""it appears to be due to a flaw in certain wallet software, rather than in the solana blockchain itself."" OtterSec added that the transactions were being signed by the actual owners, ""suggesting some sort of private key compromise."" A private key is a secure code that grants the owner access to their crypto holdings.The identity of the attacker is still unknown, as is the root cause of the exploit. The breach is ongoing.""Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on solana,"" according to Solana Status, a Twitter account that shares updates for the entire solana network.The solana network is strongly encouraging users to use hardware wallets, since there's no evidence those have been impacted.""Do not reuse your seed phrase on a hardware wallet — create a new seed phrase. Wallets drained should be treated as compromised, and abandoned,"" reads one tweet. Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet.A private key is unique and links a user to their blockchain address. A seed phrase is a fingerprint of all of a user's blockchain assets that is used as a backup if a crypto wallet is lost.The solana network was viewed as one of the most promising newcomers in the crypto market, with backers such as Chamath Palihapitiya and Andreessen Horowitz touting it as a challenger to ethereum with faster transaction processing times and enhanced security. But it's been faced with a spate of issues lately, including downtime in periods of activity and a perception of being more centralized than ethereum.Correction: This story has been updated to name the three defendants the SEC is charging as U.S.-based promoters who endorsed Forsage on their social media platforms. A previous version incorrectly said these defendants were not named in the SEC's press release that announced the charges.",It has been a miserable August for crypto — and it's only the third day of the month.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesPelosi tells President Tsai ""we will not abandon Taiwan""China steps up military activity around TaiwanTaiwan's military increases alertness levelChina summoned U.S. ambassador in BeijingTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi left Taiwan on Wednesday after touting its democracy and pledging American solidarity during her brief visit, adding that Chinese anger cannot stop world leaders from travelling to the self-ruled island claimed by Beijing.China demonstrated its outrage over the highest-level U.S. visit to the island in 25 years with a burst of military activity in surrounding waters, summoning the U.S. ambassador in Beijing and halting several agricultural imports from Taiwan.Some of China's planned military exercises were to take place within Taiwan's 12 nautical mile sea and air territory, according to Taiwan's defence ministry, an unprecedented move that a senior defence official described to reporters as ""amounting to a sea and air blockade of Taiwan"".Register now for FREE unlimited access to Reuters.comTaiwan scrambled jets on Wednesday to warn away 27 Chinese aircraft in its air defence zone, the island's defence ministry said, adding that 22 of them crossed the median line separating the island from China. read more Pelosi arrived with a congressional delegation on her unannounced but closely watched visit late on Tuesday, defying China's repeated warnings, on a trip that she said demonstrated unwavering U.S. commitment to Taiwan's democracy. read more ""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,"" Pelosi told Taiwan's President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more ""Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today,"" Pelosi said during her roughly 19-hour visit.A long-time China critic, especially on human rights, and a political ally of U.S. President Joe Biden, Pelosi met with a former Tiananmen activist, a Hong Kong bookseller who had been detained by China and a Taiwanese activist recently released by China.The last U.S. House speaker to go to Taiwan was Newt Gingrich in 1997. Pelosi's visit comes amid sharply deteriorating U.S.-Chinese relations. During the past quarter century, China has become a far more powerful economic, military and geopolitical force.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States and the foreign ministers of the Group of Seven nations warned China against using the visit as a pretext for military action against Taiwan.""Sadly, Taiwan has been prevented from participating in global meetings, most recently the World Health Organization, because of objections by the Chinese Communist Party,"" Pelosi said in statement issued after her departure.""While they may prevent Taiwan from sending its leaders to global forums, they cannot prevent world leaders or anyone from travelling to Taiwan to pay respect to its flourishing democracy, to highlight its many successes and to reaffirm our commitment to continued collaboration,"" Pelosi added. read more U.S. House of Representatives Speaker Nancy Pelosi talks with Taiwan Foreign Minister Joseph Wu before boarding a plane at Taipei Songshan Airport in Taipei, Taiwan August 3, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS She later arrived in South Korea, according to local media.China's customs department announced a suspension of imports of citrus fruits and certain fish - chilled white striped hairtail and frozen horse mackerel - from Taiwan, while its commerce ministry banned export of natural sand to Taiwan.Fury on the mainland over Pelosi's defiance of Beijing was evident in Chinese social media, with one blogger railing: ""this old she-devil, she actually dares to come!"" Pelosi is 82. read more MILITARY DRILLSChina's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of the island, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit damages peace and stability in the Taiwan Strait, harms the political foundation of U.S.-Chinese relations and infringes upon China's sovereignty and territorial integrity.U.S. Secretary of State Antony Blinken discussed the potential for Pelosi's visit with counterpart Wang Yi during a G20 meeting in Bali last month, and said any such trip would be entirely Pelosi's decision and independent of the Biden administration, a senior U.S. official said on Wednesday. read more The State Department confirmed that China delivered a formal protest to U.S. Ambassador Nicholas Burns in Beijing, and that Burns reiterated U.S. readiness to work with China to prevent escalation and keep lines of communication open.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Taiwan's military increased its alertness level. Its defence ministry said China was attempting to threaten key ports and cities with drills in the surrounding waters.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" a senior Taiwan official familiar with its security planning told Reuters.Foreign ministers of the G7 - Canada, France, Germany, Italy, Japan, Britain and the United States, as well as the European Union – in a statement urged China to resolve the Taiwan matter peacefully and expressed concern over China's ""threatening actions,"" particularly live-fire exercises and ""economic coercion."" They added that it is ""normal and routine"" for legislators to travel internationally. read more Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Additional reporting by Simon Lewis in Washington; Writing by Tony Munroe and Michael Martina; Editing by Simon Cameron-Moore, Stephen Coates and Will DunhamOur Standards: The Thomson Reuters Trust Principles.","Pelosi lauds Taiwan, says China's fury cannot stop visits by world leaders."
"A Beyond Meat Burger is seen on display at a store in Port Washington, New York, U.S., June 3, 2019. Picture taken June 3, 2019. REUTERS/Shannon Stapleton/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Beyond Meat Inc (BYND.O) is headed for an unappetizing second quarter as the plant-based food craze withers in the face of several weak product tests at restaurants and mediocre reviews.Analysts have slashed forecasts for Beyond Meat's sales on supply-chain concerns and waning demand that pulled down shares of the plant-based meat maker and peer Oatly Group AB (OTLY.O) from their lofty market debut levels.""Part of the issue with the adoption of the category for new consumers is that you're not going to change cultural tastes overnight,"" Mizuho analyst John Baumgartner said. ""Recruiting your next phase of consumers requires more innovation and better tasting products.""Register now for FREE unlimited access to Reuters.comEstimates for Beyond Meat's second-quarter revenue have fallen by 10% over the last three months, according to Refinitiv IBES data.CONTEXTMcDonald's Corp last week became the latest chain to not go through with an immediate broader launch of Beyond Meat products, after concluding its U.S. test of a burger made with the plant-based meat without confirming future plans.Tests at Panda Express and Yum Brands Inc's KFC, Pizza Hut and Taco Bell have also yet to lead to a permanent or U.S.-wide launch, while Dunkin, Hardee's and A&W have discontinued products after launching, according to brokerage Piper Sandler.Reviews for Beyond Meat's plant-based jerky also indicate skepticism about the taste of the product, stoking concerns about the sustainability of its sales momentum, Piper Sandler analyst Michael Lavery wrote in a note on Friday.The company has had to discount more to encourage inflation-hit consumers to pick up its products over those of competitors at grocers, leading analysts to say its expectation for average revenue growth of 27% for 2022 now appears steep.FUNDAMENTALS* Beyond Meat is expected to post a marginal increase in revenue for the second quarter, when it reports on Thursday, with loss per share widening to $1.18.* Wall Street expects Beyond Meat to lose $4.48 per share for 2022, much bigger than the $2.88 it expected on April 27, when the company reported results for the first quarter.Plant-based foo maker's sharesRegister now for FREE unlimited access to Reuters.comReporting by Praveen Paramasivam in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.",Beyond Meat sales under threat as plant-based boom withers.
"Register now for FREE unlimited access to Reuters.comABUJA, Aug 3 (Reuters) - Nigeria's military will use maximum firepower to uproot the armed groups that are behind mounting insecurity in the country, the airforce said on Wednesday, amid concerns that the situation, if unchecked, could impact a general election in February.Attacks by Islamist insurgents in the northeast and kidnappings for ransom and killings of villagers in the northwest have become an almost daily occurrence in Nigeria.But the militants have carried a number of attacks outside their northeastern enclave, raising fears that their networks may be spreading to other parts of the country.Register now for FREE unlimited access to Reuters.comNigerian Air Force (NAF) head Air Marshal Oladayo Amao told commanders during a Tuesday meeting that the security situation ""remains fluid and uncertain"" with armed groups moving between northern states, a statement released by NAF on Wednesday said.Amao said operational commanders should ""show no mercy and ensure they employ maximum firepower against terrorists posing security threats in the country.""Soldiers stand in a parade at the military arcade during a ceremony marking the army Remembrance Day in Lagos, Nigeria January 15, 2017.REUTERS/Akintunde Akinleye/File PhotoThe government early this year designated bandits as terrorists but the military's response has been sporadic, in part because its resources are concentrated against insurgents. That has left the bandits to roam largely freely.President Muhammadu Buhari said late on Tuesday the Nigerian government had given security forces ""full freedom to deal with, and bring to end this madness.""Buhari spoke after a spate of attacks last weekend by gunmen in three northern states, which left scores of people dead.On Tuesday, the Nigerian police said it deployed additional manpower around Abuja to bolster security, days after local reports of an attack at a checkpoint near the capital. read more Security will be a major issue when Nigerians vote for a new president in February to succeed Buhari, who cannot stand again after serving the two terms permitted by the constitution.Register now for FREE unlimited access to Reuters.comReporting by Camillus Eboh, Editing by MacDonald Dzirutwe and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Nigeria's military to use 'maximum firepower' against armed groups.
"Chesapeake Energy logo is seen on smartphone in front of displayed stock graph in this illustration taken January 25, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - U.S. shale producer Chesapeake Energy (CHK.O) is eyeing a sale of its Eagle Ford shale assets in south Texas, as it shifts its business focus to natural gas production.The company, which has faced pressure from private equity firm Kimmeridge Energy Management for changes, said it would drop three rigs in the Eagle Ford by the end of the year, exiting the basin with two rigs running.It will add two rigs in the gassy Haynesville shale, finishing the year with seven in operation there.Register now for FREE unlimited access to Reuters.comExiting the Eagle Ford assets would likely take time and could be done in multiple transactions, Chief Executive Nick Dell'Osso said during an earnings call on Wednesday.Chesapeake said it anticipates increased production in the Haynesville shale, which spans east Texas and into Louisiana, by 5% to 7% between 2022 and 2023. It plans to increase its capital investment program by 15% to $1.75 billion to $1.95 billion due to inflation and the rig additions.Chesapeake this week disclosed it had entered into an agreement to supply natural gas to the Golden Pass LNG export facility near Sabine Pass, Texas.The U.S. Gulf Coast plant, a joint venture between Qatar Energy and Exxon Mobil Corp.(XOM.N), is expected to begin commercial operations in 2024.Register now for FREE unlimited access to Reuters.comReporting by Liz Hampton in Denver, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.","Chesapeake eyes sale of south Texas shale oil assets, focuses on gas."
"Erin Woods for the Vote No on the Constitutional Amendment on Abortion canvases a neighborhood on August 01, 2022 in Lenexa, Kansas.Kyle Rivas | Getty ImagesSenate Majority Leader Chuck Schumer and other leading Democrats on Wednesday said an unexpectedly strong vote to uphold the right to an abortion in ""red"" Kansas gives their party a boost over Republicans going into the fall midterm elections.""Last night in the American heartland, the people of Kansas sent an unmistakable message to MAGA Republican extremists -- back off women's fundamental rights,"" said Schumer, D-N.Y. referring to the ""Make America Great Again"" battle cry of former President Donald Trump and his supporters.With an extremely high turnout, Kansans on Tuesday voted 59% to 41% against a proposed constitutional amendment that would let the state's Republican-controlled legislature either ban or severely restrict abortion.""What happened in red Kansas last night is a reflection of what is happening across the country and what will continue to occur through the November elections,"" Schumer said on the Senate floor. ""If it's going to happen in Kansas, it's going to happen in a whole lot of states."" The strong pro-choice vote in Kansas, he said, will continue into the November elections,"" he said. ""And Republicans who side with these extremist MAGA policies that attack women's rights do so at their own political risk,"" he said.The vote was the crucial first test of how voters could react to the Supreme Court's decision in June overturning the federal constitutional right to abortion, which had existed since the same court's 1973 ruling in the Roe v. Wade case.The latest Supreme Court ruling effectively leaves it up to individual states to decide how strictly to regulate or outright ban abortion.Nearly half of the states are expected to impose total or near-total bans on the procedure, despite the fact that opinion polls consistently show that a solid majority of Americans believe abortion should be legal. On Tuesday, the Justice Department filed a lawsuit seeking to block the enforcement of Idaho's new abortion law, which beginning later this month would make it a criminal offense to perform abortion in nearly all cases.Tuesday's loss by anti-abortion advocates in Kansas was stunning because the state reliably supports Republicans, whose party opposes abortion, in national elections. The Democratic Party, in contrast, is a staunch supporter of abortion rights.In the 2016 presidential election, the then-Republican candidate Trump defeated Democratic nominee Hillary Clinton by more than 20 percentage points in Kansas, helping cement his victory in the national election for the White House.Trump also defeated President Joe Biden in Kansas by nearly 15 percentage points in 2020.Anti-abortion groups spent millions of dollars promoting the Kansas amendment,But as of Wednesday morning, the ""no"" vote on Kansas's anti-abortion amendment was outpacing ""yes"" voters by about 18 percentage points with 99% of the vote counted.Ever since Biden's national victory in 2020, Democrats were expected to face tough odds in the November elections to retain their majorities in both chambers of Congress. The incumbent party of a sitting president typically performs poorly in midterm races and the individual Senate seats up for reelection aren't sure things for the Democrats. But top Democrats on Wednesday were heartened by the results on the Kansas amendment, even if all of them were not predicting it meant they will keep their majorities.The results came as a new national poll by Monmouth University showed that there has been a significant increase in support for Democrats on a generic ballot since June, when the Supreme Court overturned Roe v. Wade.Monmouth's latest poll showed that 50% of Americans now prefer Democrats controlling Congress, compared with 43% who prefer Republicans taking the majority. That same poll, which has a margin of error of 3.5 percentage points, showed Biden with just a 38% approval rating.A Monmouth poll in June had shown the parties dead even, 47% to 47% in voter preferences. And in May, Republicans held a 4 percentage point edge over Democrats when people were asked in the poll which party should control Congress.""I think the message is out there that the reaction across America to this Supreme Court decision is powerful,"" Sen. Dick Durbin, an Illinois Democrat, told reporters Wednesday. ""People are not staying home. They're showing up at the polls, I think it'll have an impact in November.""Asked if that impact would be enough to save his party's majorities, Durbin said, ""I wouldn't say that,  wouldn't go that far, but I will tell you this. It has created a new factor in this off-year election in that Republicans are in a difficult position.""He said reports of extreme situations where women have been in danger because they are being denied access to abortion have been making the news. ""And it isn't one that's very popular with voters,"" he said.Another Democrat, Sen. Richard Blumenthal of Connecticut, told reporters, ""the American people are fed up with politicians trying to tell them what to do with their lives and their bodies."" Abortion will be a ballot issue this November, he said.""The anger, angst, anxiety that it was expressed in Kansas is so widespread in this country that I think that November is going to be a key indication,"" Blumenthal said.But Republican Sen. Josh Hawley of Missouri said that ""I just doubt it"" when asked if the issue of abortion rights would lead to Democrats holding their majorities.""""I think we will take them both back,"" Hawley said, referring to the Senate and House of Representatives.The abortion rights group NARAL Pro-Choice America suggested that Hawley's confidence is not warranted.""At a time when reproductive freedom is under unprecedented threat across the country, Kansans said loud and clear at the ballot box: 'We've had enough,'"" said NARAL President Mini Timmaraju in a statement.""In the heartland of the United States, protecting abortion access is galvanizing voters like never before, and that mobilization is only just beginning. Reproductive freedom is a winning issue, now and in November,"" Timmaraju said.","Overwhelming abortion right win in in 'red' Kansas gives Democrats boost for fall midterms over 'MAGA' GOP, Schumer says."
"Register now for FREE unlimited access to Reuters.comJOHANNESBURG, Aug 3 (Reuters) - South African power utility Eskom said it would escalate scheduled power cuts to ""Stage 4"" from 4 p.m. until midnight local time (1400 to 2200 GMT) on Thursday due to a shortage of generation capacity.The utility had earlier announced ""Stage 2"" power cuts during the evening peak hours for Wednesday and Thursday, which would have required up to 2,000 megawatts to be shed from the national grid.Eskom said in a statement that there had been a delay in returning several generation units to service, while others had broken down.Register now for FREE unlimited access to Reuters.comLocals walk past electricity pylons during frequent power outages from South African utility Eskom, caused by its aging coal-fired plants, in Soweto, South Africa, July 3, 2022. REUTERS/Siphiwe SibekoIt will also implement ""Stage 2"" power cuts on Thursday between 5 a.m. and 4 p.m., Eskom said, adding that it expects to repeat the same on Friday from 5 a.m. until midnight.The struggling state-owned company suspended scheduled electricity outages 11 days ago, following several weeks of regular power cuts that prompted public anger and hampered businesses.Eskom has an ageing power station fleet comprised mainly of coal plants that are highly prone to faults.Government efforts to add additional capacity have been slow, and this year a record amount of electricity is set to be cut from the grid. read more Register now for FREE unlimited access to Reuters.comReporting by Alexander Winning and Bhargav Acharya
Editing by Olivia Kumwenda-Mtambo, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",S.Africa's Eskom to escalate power cuts after 11-day pause.
"World August 3, 2022 / 1:52 PM / AP Volcano erupts in Iceland Volcano in Iceland attracts thousands of visitors 08:55 A volcano in southwest Iceland began erupting Wednesday, the country's meteorological authorities said — just eight months after its last eruption officially ended.The Icelandic Meteorological Office urged people not to go near the Fagradalsfjall volcano, which is located some 32 kilometers (20 miles) southwest of the capital, Reykjavik.The eruption in an uninhabited valley is not far from Keflavik Airport, Iceland's international air traffic hub. The airport remained open and no flights were disrupted. A live video feed from the site showed magma spewing from a narrow fissure about 100 to 200 meters long over a field of lava from last year's eruption, the first on the Reykjanes Peninsula in almost 800 years. Live Fagradalsfjall, Iceland. by RÚV on YouTube Scientists had anticipated an eruption somewhere on the peninsula after a series of earthquakes over the past week indicated volcanic activity close to the crust. Volcanologist Magnus Tumi Gudmundsson told The Associated Press that the eruption appeared to be small.""But we don't know where in the process things are at,"" he said as he boarded a helicopter for a first look. A aerial shot of activity from the Fagradalsfjall volcano in Iceland on Wednesday Aug. 3, 2022, which is located 20 miles southwest of the capital of Reykjavik and close to the international Keflavik Airport.  Ernir Snaer / AP The 2021 eruption in the same area produced spectacular lava flows for several months. Hundreds of thousands people flocked to see the spectacular sight.Iceland, located above a volcanic hotspot in the North Atlantic, averages an eruption every four to five years. The most disruptive in recent times was the 2010 eruption of the Eyjafjallajokull volcano, which sent clouds of ash and dust into the atmosphere, interrupting air travel for days between Europe and North America because of concerns the ash could damage jet engines. More than 100,000 flights were grounded, stranding millions of passengers.Shares in Iceland's flagship airline, Icelandair, rose 6% when news of the eruption broke Wednesday. Investors and residents alike had been spooked by the possibility of a much more disruptive eruption in a populated area of the peninsula. In: Volcano Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Volcano near Iceland's main airport erupts again after series of earthquakes.
"Just 9% of tech workers are feeling confident in their their job security, according to a June survey from Blind, the anonymous professional networking site.No doubt, job-market fears are being fueled by months of headlines about hiring freezes, job offers being rescinded and mass layoffs from burgeoning upstarts and tech giants alike, including Robinhood and Oracle just this week.More than 32,000 people have been laid off from the U.S. tech sector in 2022, according to Crunchbase data.Today's lack of confidence in the job market marks a 180-degree shift from just months ago, says Rick Chen, head of PR for Blind. Back in March, some 80% of tech workers were confident in the job market and were considering looking for a new job.Layoff news is making tech workers across several industries feel skittish, especially those in e-commerce, real estate and businesses tied closely to the stock market, which saw a boom during Covid recovery in 2021 but massive volatility in today's economy.Workers' job stability worries have skyrocketed at companies that announced layoffs in recent months. As of of the Blind survey, conducted on June 20 and 21, companies with the highest shares of concerned workers included Compass, where 95% felt  less confident about their job security, as well as Twitter (91%), Robinhood (90%), Instacart (90%) and Coinbase (83%).Workers are taking their concerns online, Chen says: Discussions of hiring freezes and layoffs doubled in the first quarter of 2022 compared with 2021, while discussions including the term ""recession"" have increased 15-fold.Despite layoffs, tech workers are 'being snapped up in weeks'Broad pessimism stands in contrast with a still-hot labor market, economists say. Hiring and quits remain near record highs while June layoffs remained just under 1% of the workforce.Workers may not have as much bargaining power as early 2022, but Chen says tech workers are still well-positioned to look for a new job or land on their feet if they're laid off.""We're finding companies are still hiring, and the people we're placing are being snapped up in weeks,"" Chen says, referring to activity on Blind's recruiting marketplace. And as of June, 64% of tech leaders say it's getting harder or significantly harder to find skilled workers for their open job positions, according to a CNBC survey.Alister Shirazi, 34, works as an engineering project manager with Apple on a contract basis. Though his contract is up in November, he's ""not at all"" concerned about continuing to work for the tech giant or lining up a new job afterward.For one, he's noticed his boss continues to discuss how hard it is to hire and retain employees to keep her team appropriately staffed. Shirazi expects his contract will be extended, or he could be brought on as a full-time employee.He also sees recent layoffs as temporary: ""We just came off of a huge boom in hiring in the tech sector,"" Shirazi says. ""Booms are usually followed by busts, but then busts are followed again by booms.""Shirazi expects established companies will win out by scooping up tech workers leaving riskier startups: ""I don't see these layoffs as a time where people are going to spend a lot of time sitting at home,"" he says.How to future-proof your new jobIf you're considering a move, Chen recommends you take this time to reflect on what you want most out of your career. ""During good times, people were leaving every 12 to 18 months on average and searching for roles with higher pay and compensation,"" he says. ""Now is a good time to take stock of what matters most to you, whether that's work-life balance, remote work, a flexible work schedule or opportunities to level up in your skills or career.""You might also ask more questions to gauge a prospective company's stability: ""Be wary of descriptions like 'hyper-growth' in the job description and dig deeper,"" says Ginny Cheng, a coach with Career Contessa. ""Learn more about the steps they are doing to support employee retention or how they are growing responsibly.""As for the future of tech jobs, ""every company is a tech company,"" Chen adds, ""and they need programmers and data scientists and product folks to create digital products and services. There is security in tech roles.""Check out:4.2 million people quit in June despite recession worries: 'A paradox in our economy'What's a good salary or raise to ask for right now? How to find your number in this wild job market3 reasons your recruiter ghosted you, according to a hiring proSign up now: Get smarter about your money and career with our weekly newsletter",Mass layoffs and hiring freezes: Just 9% of tech workers feel secure about their jobs right now.
"If the U.S. economy is in recession, someone forgot to tell the jobs market.The employment picture over the past six months is behaving nothing like an economy in a downturn, instead creating jobs at a rapid pace of nearly 460,000 a month.Research from CNBC's Steve Liesman indicates that during a typical downturn, the employment picture would be far gloomier, losing ground instead of gaining. Several charts presented during Wednesday's ""Squawk Box"" help paint the picture.The CNBC team looked at economic data going back to 1947. It indicated that when gross domestic product has been negative for six months, as is the case for 2022, payrolls fall by an average of a half a percentage point. But this year, the job count actually has increased by 1%.Data from human relations software company UKG backs up that notion, with internal data that shows jobs have been created about in line with the Bureau of Labor Statistics' count.Finally, the Dallas Federal Reserve, in research posted Tuesday, said its analysis of multiple data points found ""that most indicators — particularly those measuring labor markets — provide strong evidence that the U.S. economy did not fall into a recession in the first quarter"" of the year.One data point the central bank's researchers looked at was real personal consumption expenditures. They found that consumption generally declined during recessions. By contrast, the measure increased during the first half of 2022.Even with the other evidence suggesting otherwise, many commentators have focused on the traditional definition of recession as being two straight quarters of negative GDP growth. The first quarter declined 1.6%, and the second quarter fell 0.9%, meeting that standard.Another anomalous factor about the current state is that even though GDP fell in real inflation-adjusted terms, the economy on a nominal basis grew strongly during the second quarter. Nominal GDP rose 7.8% during the period, but was outweighed by an 8.6% quarterly inflation rate.By contrast, during the last recession in 2020, nominal GDP contracted 3.9% in the first quarter and 32.4% in the second quarter, while real GDP respectively fell 5.1% and 31.2%.St. Louis Fed President James Bullard told CNBC, also during ""Squawk Box,"" that he doesn't think the economy is in a recession, though he was more dismayed by the second-quarter decline.""The first-quarter slowdown I think ... was probably a fluke, but the second quarter was more concerning,"" he said. Even if some rate-sensitive pockets of the economy slow, ""that doesn't by itself mean you're in recession just because you see some negative signs in some parts of the economy.""The latest data on the jobs picture comes out Friday, when the Bureau of Labor Statistics is expected to report a payrolls gain of about 258,000 for July, according to Dow Jones estimates. BLS data earlier this week showed that the gap between job openings and available workers is still vast but edging lower.",These charts show why we may not be in a recession.
"Soccer Football - UEFA Executive Committee News Conference - Nyon, Switzerland - April 7, 2022 A UEFA logo is displayed in this illustration during the news conference REUTERS/Denis Balibouse/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Semi-automated offside technology (SAOT) will be used in the Champions League this season after being introduced for next week's UEFA Super Cup match between Real Madrid and Eintracht Frankfurt, European soccer's governing body said on Wednesday.The system, which uses special cameras that will track body points on players, will be used for the Super Cup in Helsinki and then from the Champions League group stage.""UEFA is constantly looking for new technological solutions to improve the game and support the work of the referees,"" UEFA Chief Refereeing Officer Roberto Rosetti said in a statement.Register now for FREE unlimited access to Reuters.com""This innovative system will allow Video Assistant Referee (VAR) teams to determine offside situations quickly and more accurately, enhancing the flow of the game and the consistency of the decisions.""UEFA said the new system will operate with special cameras that track 29 different body points per player, with a total of 188 tests performed since 2020, including all games from last season's Champions League, the knockout stage of the Women's Champions League and the women's Euros.""The system is ready to be used in official matches and implemented at each Champions League venue,"" Rosetti said.The Super Cup game takes place on Aug. 10, with English referee Michael Oliver appointed as the on-field official.Soccer's global body FIFA said last month that SAOT would be used at this year's World Cup in Qatar, promising decisions that are more accurate and a lot quicker. read more Using cameras strategically positioned around the stadiums, and a chip in the match ball, FIFA said the technology will go a long way to cutting down on VAR decisions on marginal offside calls and reduce the time needed to check.Spectators will also be able to see some of the 3D animation when VAR decisions are explained on a stadium's screen.Register now for FREE unlimited access to Reuters.comReporting by Shrivathsa Sridhar in Bengaluru
Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.","Semi-automated offside technology to be used in Champions League, UEFA Super Cup."
"Jul 26, 2022; Chicago, IL, USA; Las Vegas Aces head coach Becky Hammon directs the team during the first half of the Commissioners Cup-Championships against the Chicago Sky at Wintrust Arena. Mandatory Credit: Matt Marton-USA TODAY Sports/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - A top coach for U.S. women's pro basketball who once represented Russia at the Olympics has made a plea for Russian President Vladimir Putin to ""do the right thing"" and quickly release American star player Brittney Griner.Las Vegas Aces head coach Becky Hammon, who as a player spent years in Russia and won Olympic bronze for her adopted country, said it was upsetting to see a fellow member of the tight-knit women’s basketball community locked up for nearly six months. Washington says Griner is wrongfully detained in Russia.“It’s something that obviously hits super close to home for me and so I just ask the Russian government to do the right thing. It’s never too late to do the right thing,” Hammon told Reuters in an interview on Tuesday in an appeal that was joined by other figures in global women's basketball. “We're asking for leniency. We're asking for grace. And we're asking to bring home BG.”Register now for FREE unlimited access to Reuters.comGriner, a two-time Olympic gold medalist and center for WNBA team Phoenix Mercury, is expected to return to a Russian court on Thursday for closing arguments in her trial. She faces up to 10 years in prison on drugs charges after she was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing cannabis oil in her luggage. read more Her arrest as she headed to join her Russian team in the American off-season came days before Russia launched its full-scale invasion of Ukraine, plunging relations between Moscow and Washington to their lowest point in decades and thrusting Griner into the center of a geopolitical tussle.U.S. Secretary of State Antony Blinken said last week the United States has made a ""substantial offer"" to Russia to release Griner and former Marine Paul Whelan, who the United States also considers to be wrongfully detained in Russia. A source said that Washington was willing to exchange convicted arms trafficker Viktor Bout, known as the ""Merchant of Death.” read more Moscow has said no deal has yet been done. A swap is unlikely to take place before a verdict in Griner’s trial, but that could take place in the coming days. read more 'ONE OF THE GREATEST'Hammon, a six-time WNBA all-star player, played during the off-season for several Russian teams, a common move for WNBA players seeking to supplement incomes that are lower than their male counterparts'. She became a naturalized citizen and won a bronze Olympic medal for Russia in 2008 and competed again in 2012, but said her Russian citizenship had since expired.Hammon - reportedly the first WNBA coach to be paid more than $1 million – described Griner as “one of the greatest players to ever play,” and said it was possible the detention of a male athlete at the same level would have drawn a greater response.“It's hard to imagine, though, that if this was, you know, LeBron James, that he'd still be sitting over there in jail,” said Hammon. “It’s hard not to let your mind go there.”Hammon said she had always supported the campaign to free Griner, but was speaking out as Griner’s trial draws to a close and Russia has an opportunity to send her home.Several others who played in Russia also called for Griner's release. Seattle Storm forward Breanna Stewart, Spanish shooting guard Marta Xargay and Griner's Phoenix Mercury teammate Diana Taurasi, who played in Russia for over 10 years, recorded video appeals that were shared with Reuters on Wednesday.""We called Russia our second home for many years. I ask, for the sanctity of sport, to have mercy and understanding for our beloved Brittney Griner,"" said Taurasi.Hammon said as an athlete she was not political, but appealed to Putin and Russian authorities to show ""mercy"" and let Griner return to her wife in the United States.“If that was your daughter or your sister or your wife or whoever, you can imagine the agony that you'd been going through waiting,” she said. “Enough is enough.”She also warned that Russian athletes would suffer repercussions from the detention of a top athlete traveling to compete.“I think Mr. Putin is a pretty big sports fan - to jeopardize all these athletes, I mean would just be really unfortunate,” said Hammon.Russian sports teams and athletes have been excluded from some international events over the invasion of Ukraine, and Olympic officials have said Russia could be banned from the 2024 games in Paris. Russia has not faced sporting sanctions for Griner's detention. read more “If (Griner) were to have to serve a (prison) sentence, I think there would have to be bad implications internationally on the sports world,” Hammon said. “There's certain ways to put pressure on Russia. Hopefully it doesn't come to that.”Register now for FREE unlimited access to Reuters.comReporting by Simon Lewis;
Editing by Mary Milliken and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.","EXCLUSIVE Coach Hammon, once a star in Russia, urges Putin to free Brittney Griner."
"The logo of cryptocurrency platform Solana.Jakub Porzycki | NurPhoto via | Getty ImagesNearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic's estimate is slightly higher at 7,936 wallets.Solana's sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It's currently down about 1%, while trading volume is up about 105% in the last 24 hours.Starting Tuesday evening, multiple users began reporting that assets held in ""hot"" wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds.Phantom said on Twitter that it's investigating the ""reported vulnerability in the solana ecosystem"" and doesn't believe it's a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets ""across a wide variety of platforms.""Elliptic chief scientist Tom Robinson told CNBC the root cause of the breach is still unclear, but ""it appears to be due to a flaw in certain wallet software, rather than in the solana blockchain itself."" OtterSec added that the transactions were being signed by the actual owners, ""suggesting some sort of private key compromise."" A private key is a secure code that grants the owner access to their crypto holdings.The identity of the attacker is still unknown, as is the root cause of the exploit. The breach is ongoing.""Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on solana,"" according to Solana Status, a Twitter account that shares updates for the entire solana network.The solana network is strongly encouraging users to use hardware wallets, since there's no evidence those have been impacted.""Do not reuse your seed phrase on a hardware wallet - create a new seed phrase. Wallets drained should be treated as compromised, and abandoned,"" reads one tweet. Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet.A private key is unique and links a user to their blockchain address. A seed phrase is a fingerprint of all of a user's blockchain assets that is used as a backup if a crypto wallet is lost.The incident comes one day after the $200 million hack of the Nomad blockchain bridge. It's the latest crisis to grip the crypto market in recent weeks.""Four addresses are currently linked to the hacker, a far cry from yesterday's 'decentralized looting,' which involved over 120 individual users,"" said crypto investor and analyst Miles Deutscher. ""This implies that it was a singular party who conducted the SOL exploit, although the specific details remain ambiguous.""The Solana network was viewed as one of the most promising newcomers in the crypto market, with backers like Chamath Palihapitiya and Andreessen Horowitz touting it as a challenger to ethereum with faster transaction processing times and enhanced security. But it's been faced with a spate of issues lately, including downtime in periods of activity and a perception of being more centralized than ethereum. A major outage in June knocked the Solana platform offline for several hours.Ether, the native token of the ethereum blockchain, climbed 6% in 24 hours.","Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far."
"Space August 3, 2022 / 1:18 PM / CBS News SpaceX, Axiom Space launch joint mission SpaceX and Axiom Space launch first all-private joint mission 05:38 NASA is not trusting private citizens to travel to the International Space Station on their own — instead, it wants them to be chaperoned by experienced professionals. New requirements from the agency would mandate that future space tourist journeys should be led by a former NASA astronaut as the mission commander.NASA says the new proposals are ""lessons learned"" from the first private astronaut mission (PAM) to the ISS last April — a complicated expedition put together by Axiom Space. The crew included Michael López-Alegría, a former NASA astronaut and current Axiom Space employee, and three civilian crewmembers, who reportedly paid $55 million per ticket.  The new requirements have not yet been finalized, but NASA says having an actual former astronaut aboard ""provides experienced guidance for the private astronauts during pre-flight preparation through mission execution."" In addition to any safety concerns, NASA said that a former astronaut would provide a ""link"" between astronauts working aboard the ISS and their ultra-rich visitors — with the goal of ""reducing risk"" to ISS operations.  Prior to the release of the new guidelines, Axiom had already announced its plans for a second private mission to the ISS for 2023, with former NASA astronaut Peggy Whitson as mission commander. However, Michael Suffredini, president and CEO of Axiom, said during an April news conference that the company has considered sending future missions with four paying customers instead of three, leaving no room for a professional astronaut.   The space station's seven long-duration crew members welcomed the four Ax-1 commercial astronauts aboard the lab complex with a traditional post-docking ceremony. NASA TV Lessons learnedThe Ax-1 crew spent two weeks in space, which included conducting scientific research aboard the space station. Upon their return to Earth, they admitted that they worked harder than they expected to during their stay.""With the value of hindsight, we were way too aggressive on our schedule, in particular the first couple days,"" said Larry Connor. ""It has been fast-paced,"" López-Alegría said in a space-to-ground interview with CBS News while aboard the ISS. ""I think that's probably the biggest surprise, just how incredibly quick time goes by.""  Their presence on the ISS also affected the existing crew's schedule. ""In essence, the arrival of the PAM personnel seemed to have a larger than expected impact on the daily workload for the professional space station crew,"" Susan Helms, a former NASA astronaut and member of the Aerospace Safety Advisory Panel, said during a panel meeting in May. ""There were some opportunity costs in the form of overly stressing the workload of the onboard ISS crewmembers and the mission controllers who support them."" The Ax-1 crew also acknowledged after their mission that they found the adjustment to microgravity difficult, something NASA hopes to further address in the future. ""I think we underestimated just how hard the adaptation would be and sort of how long it would take,"" López-Alegría told CBS News. ""You know, we have this phenomenon that astronauts call 'space brain,' when you get up here, things just take about 33 to 50% longer than they normally do. And that's even more true for people who've never been exposed to this environment before."" Other requirements include:Clarifications to the code of conduct that private astronauts must adhere to while aboard the ISS. ""Private astronauts are not U.S. government employees; therefore, they do not have the same restrictions levied on government astronauts,"" NASA said. Research requests to the ISS National Laboratory must be submitted at least 12 months before the expected launch date to confirm their feasibility, certify payloads and go through ethical review. ""Significant research activities were not originally envisioned as a primary objective for private astronaut missions,"" the agency said.Updated vehicle requirements for sleep accommodation and hygiene location The addition of private astronaut medical requirementsAdditional time in private astronauts' schedules to allow them to adapt better to microgravityAdditional requirements associated with return cargo packing to ensure smoother undocking and splashdown processes The delivery of a mission-specific communications plan for all media and commercial activities, including crew announcements, training, commercial partnerships, prelaunch, launch, mission operations, return and stakeholders' roles.   SpaceX launches Axiom-1 crew to International Space Station 15:55 In: International Space Station NASA SpaceX Astronaut Sophie Lewis Sophie Lewis is a social media producer and trending writer for CBS News, focusing on space and climate change. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Want to go to space? NASA says you have to get a former astronaut to chaperone you to the ISS.
"Politics August 3, 2022 / 12:17 PM / CBS News Washington — President Biden signed an executive order Wednesday aimed at making it easier to travel to obtain an abortion and enforcing federal non-discrimination laws for those seeking the procedure, his latest unilateral effort to secure abortion rights in the wake of the Supreme Court's decision to strike down Roe v. Wade.The order directs Health and Human Services Secretary Xavier Becerra to consider actions to support patients traveling out of state for abortions, including through the use of waivers that would allow states where abortion is legal to cover the cost of the procedure under Medicaid for out-of-state residents. It also directs the secretary to make sure health care providers comply with federal non-discrimination laws, and asks him to evaluate and improve research and analysis on maternal health outcomes. ""Secretary Becerra is going to work with states through Medicaid to allow them to provide reproductive health care for women who live in states where abortions are being banned in that state,"" Mr. Biden said Wednesday. ""The executive order makes sure health care providers comply with federal law so women don't face delays or denials of medically necessary care. And this executive order advances research and data collection to evaluate the impact that this reproductive health crisis is having on maternal health and other health conditions and health outcomes."" The president signed the executive action during a virtual appearance at the first meeting of his newly created Task Force on Reproductive Healthcare Access. Mr. Biden is still recovering from a ""rebound"" case of COVID-19 and in isolation at the White House. After signing the order, Mr. Biden said much work remains to ensure abortion access, but he's confident Vice President Kamala Harris can get it done.  Homeland Security Secretary Alejandro Mayorkas listens as President Biden delivers remarks virtually on Aug. 3, 2022. MANDEL NGAN/AFP via Getty Images The White House has said it continues to look for actions the president can take on his own to protect abortion rights in light of Roe's reversal, but the steps the president has taken so far shed light on just how limited his powers are without congressional action. The president has alluded to his limitations without the legislative branch before, and consistently encourages Congress to enshrine abortion protections into federal law.  ""The only way we can secure a woman's right to choose and the balance that existed is for Congress to restore the protections of Roe v. Wade as federal law,"" the president said in remarks after the Supreme Court overturned the decision in Roe v. Wade. ""No executive action from the president can do that.""At the task force meeting, Cabinet heads reported on progress they've made on executing a July 8 directive the president issued to preserve abortion access. That executive order asked the Justice Department to do everything in its power to protect women seeking an abortion, including protecting their right to travel to another state and access approved abortion drugs. It also sought to ensure all women and girls experiencing the loss of a pregnancy can receive the medical care they need, no matter their state.The Justice Department filed suit against the state of Idaho on Tuesday, claiming a law that bans virtually all abortions runs afoul of a federal law guaranteeing treatment, including abortion, to women facing medical emergencies. The suit is the first legal challenge the Biden administration has mounted to a state law since Roe was reversed.Some Democrats were underwhelmed by Mr. Biden's initial response to the Supreme Court's decision, arguing the White House should have been more prepared. The president, while taking all actions the administrative believes it can do at a given point in time, has suggested the ball is in Congress' court. The House has approved legislation to protect abortion rights, but the Senate lacks the votes to follow suit. Meanwhile, both those who support abortion rights and those who oppose them have begun to take matters into their own hands at the state level. On Tuesday night, voters in deep-red Kansas overwhelmingly rejected a measure that would have nixed abortion access protections from the Kansas Constitution. Mr. Biden addressed that victory in Kansas Wednesday.""The court practically dared women in this country to go to the ballot box and restore the right to choose that the court had just ripped away after 50 years,"" Mr. Biden said Wednesday. ""They don't have a clue about the power of American women. Last night in Kansas, they found out.""Sean Conlon contributed reporting. Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C.",Biden signs executive order to support travel for abortions in latest move aimed at protecting access.
"The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a production plant in Chartres, north-central France, April 21, 2016. REUTERS/Guillaume Souvant/File PhotoRegister now for FREE unlimited access to Reuters.comCOPENHAGEN, Aug 3 (Reuters) - Shares in Danish drugmaker Novo Nordisk (NOVOb.CO) fell on Wednesday as news about its new obesity drug disappointed investors, even though the firm lifted its sales and operating profit forecasts for the year on strong first half results.Novo Nordisk, whose main business is to develop diabetes and obesity drugs, now expects sales growth of 12-16% at constant exchange rates, up from a previous estimate of 10-14%. It sees operating profit up 11-15%, versus an earlier estimate of 9-13%.Shares in Novo ended down 9.4% at the market close.Register now for FREE unlimited access to Reuters.com""It could be lower than expected sales of Wegovy, which disappointed,"" Sydbank analyst Soren Lontoft Hansen told Reuters, referring to Novo's new obesity drug, which has faced supply issues since its launch in the United States last year.Sales of Wegovy declined to 1.2 billion Danish crowns ($163.27 million) in the second quarter from 1.4 billion in the first quarter. Overall, sales of obesity drugs grew 83% in the second quarter compared to the same period last year.The company also said it expected to make all dose strengths of Wegovy available in the United States ""towards the end of 2022"".""That is perhaps a tightening of the rhetoric compared to Q1, where they said 'in the second half of the year',"" Hansen said.That was likely due to ""lower output as scale-up is slightly slower than planned,"" Jefferies analysts said in a note.Investors had also hoped for more positive news from Novo's SELECT trial, which investigates cardiovascular benefits from its Wegovy drug, Hansen said. Novo said on Wednesday the trial would continue ""in accordance with the trial protocol"".""There was talk that the study could be stopped earlier if a really large reduction in the risk of cardiovascular events was shown,"" said Hansen, who viewed the overall quarterly results from Novo as ""really strong"".Novo reported second-quarter operating profit of 18.4 billion Danish crowns, just above the 18.3 billion forecast by analysts, according to Refinitiv data. The company had initially planned to announce results on Thursday.""We are very pleased with the sales growth in the first half of 2022. The growth is driven by increasing demand for GLP-1 based diabetes treatments, especially Ozempic,"" Chief Executive Lars Fruergaard Jorgensen said in a statement.An investor conference call will be held at 1730 GMT on Wednesday.($1 = 7.3474 Danish crowns)Register now for FREE unlimited access to Reuters.comReporting by Nikolaj Skydsgaard
Editing by David Goodman, Mark Potter and David EvansOur Standards: The Thomson Reuters Trust Principles.",Novo Nordisk shares fall on Wegovy news despite outlook lift.
"Travelers at LaGuardia Airport in New York on June 30, 2022.Leslie Josephs | CNBCThe Transportation Department on Wednesday proposed stricter rules on when airlines would have to compensate passengers for canceled or delayed flights, a move that follows a surge in traveler complaints after Covid-19 roiled air travel.Air travelers are currently entitled to a refund if their flights are canceled or ""significantly"" changed or delayed and they choose not to travel. But the agency had not defined what constitutes a significant change.The U.S. Department of Transportation is now proposing to define that as a departure or arrival time that's off by at least three hours for domestic flights, or at least six hours for international flights. Travelers would also be entitled to a refund if the routing changes or if a connection is added, as well as if a change in aircraft causes a ""significant downgrade"" in amenities or other features.Transportation Secretary Pete Buttigieg has publicly admonished airlines in recent weeks over an uptick in flight cancellations and delays, while airline executives and the Federal Aviation Administration have pointed fingers over who's to blame.Some Democratic lawmakers have called for better consumer protections for air travelers.Complaints about airline refunds accounted for 87% of the 102,560 complaints the DOT logged in 2020 and about 60% of the 49,958 complaints in 2021.The DOT also proposed requiring airlines to give flight credits or vouchers without expiration dates if passengers can't fly because of Covid-19, including lockdowns, travel restrictions or personal health reasons.""When Americans buy an airline ticket, they should get to their destination safely, reliably, and affordably,"" Buttigieg said in a news release.Airlines for America, which represents large airlines like American, United, Delta, Southwest, JetBlue and others, declined to comment.The pandemic and plunge in air travel demand prompted some airlines to make their tickets more flexible. For example, American, United and Delta, got rid of ticket-change fees for standard economy tickets in 2020.And last week, Southwest, which didn't charge ticket-change fees before the pandemic either, said the vouchers it issues will never expire.The DOT's proposed rules are open to public comment for 90 days.",Transportation Department proposes stricter rules for airline refunds after complaints surge.
"Petar Chernaev | E+ | Getty ImagesThe traditional 60/40 diversified portfolio may have investors in the red so far in 2022, but reports of its death have been ""greatly exaggerated,"" Wells Fargo analyst Douglas Beath said. In fact, it could be headed for double-digit returns, he wrote in a note Tuesday.The investment strategy, which puts 60% of assets in stocks and 40% in bonds, has had a rough year. A hypothetical balanced portfolio using the S&P 500 index and the Bloomberg U.S. Aggregate Bond Index dropped 16.1% in the first half of the year, Beath pointed out.Bonds are supposed to be a hedge during times of stock market volatility, providing positive returns when stocks go down. Except that this year, both bonds and stocks have declined in tandem. At the same time, inflation is at 40-year highs, rising 9.1% annually in June.To be sure, there are doubters. Jeffrey Gundlach, CEO of DoubleLine Capital, is among those who are against the 60/40 portfolio. He told CNBC's Bob Pisani earlier this year that he has been advising against the model for the past two years and instead recommends 25% in commodities, 25% toward cash, 25% in stocks and 25% long-term Treasury bonds.Last September, Michael Rosen, chief investment officer of Angeles Investments and Angeles Wealth, wrote in an op-ed for CNBC that the 60/40 portfolio has ""reached its expiration date.""However, the steep declines in the diversified portfolio are not unprecedented, Beath said.History shows that years when the hypothetical 60/40 portfolio gave negative returns exceeding 1% were usually followed by double-digit annualized returns over the following three years, he noted.""In the rebound phase following calendar years of negative 60/40 performance, stocks outperformed bonds by a significant margin, averaging 19.2% versus 4.5% respectively,"" Beath said.In addition, recent stock and bond market losses have improved valuations for the diversified portfolio, he wrote. When looking at capital market assumptions, which include hypothetical return expectations over 10 to 15 years, the portfolio also has higher projected risk-adjusted returns, he said.As inflation peaks and gradually declines, as expected, the correlation of stocks and bonds should return to negative or close to zero, Beath wrote.""The historical returns of stocks and bonds, combined with more attractive valuations after the recent downturn plus long-term CMA projections, indicate to us that the 60/40 portfolio is alive and well and that it should continue to serve as a solid foundation for long-term investors,"" Beath added, referring to capital market assumptions.","Don't give up on the 60/40 strategy — it could be headed for double-digit returns, Wells Fargo says."
"zimmytws | iStock | Getty ImagesThere are just 13 years before Social Security may not be able to pay full benefits, according to a recent annual report from the program's trustees.In 2035, just 80% of benefits will be payable if Congress doesn't fix the program sooner.Shoring up the program will generally mean raising taxes, cutting benefits or a combination of both. Democrats have floated several proposals to increase benefits and raise taxes, including one House bill they hope to bring up for a vote this year. Republicans have expressed their opposition to their plans.Despite the Washington gridlock, the University of Maryland's Program for Public Consultation found there are a host of changes public voters who lean either Republican or Democrat may be able to stomach.The program conducted a public consultation survey of 2,545 registered voters between April 11 and May 15.More from Personal Finance:How taxes on Social Security benefits may changeWhy the Social Security retirement age may move past 6710.5% Social Security cost-of-living adjustment seen for 2023The questions were presented as a policy-making simulation, according to Steven Kull, director at the Program for Public Consultation at the University of Maryland.The options were presented one at a time, with pro and con arguments that have been vetted by experts on both sides of the aisle. Each choice included gradations and the potential impact on the program's shortfall.Respondents tended to spread their choices to include some revenue increases and some budget cuts, according to Kull. Most didn't max out one side or the other.Here are seven fixes Americans say they are are willing to make, starting with the most popular:1. Raising the Social Security payroll tax capShare in support: 81%Democrats in support: 88%Republicans in support: 79%Raising the payroll tax cap is the one proposal that got ""overwhelming bipartisan support,"" according to Kull.In 2022, Social Security payroll taxes are applied on up to $147,000 in income, a level that is adjusted each year. That means high earners may pay Social Security payroll taxes for just part of the year.However, one Democratic proposal — Social Security 2100: A Sacred Trust put forward by Rep. John Larson, D-Conn. — calls for reapplying those payroll taxes for wages of $400,000 and up. Another bill proposed by Sens. Bernie Sanders, I-Vt., and Elizabeth Warren, D-Mass., calls for a $250,000 threshold, plus additional taxes on capital gains, and net investment and business income.Increasing the level of income at which Social Security payroll taxes are reapplied to income of more than $400,000 would eliminate 61% of the shortfall, researchers estimate. The proposal is popular with the public, having earned its own slogan, ""Scrap the Cap.""2. Reducing benefits for high earnersShare in support: 81%Democrats in support: 86%Republicans in support: 78%Wealthier retirees generally receive more generous benefits, even though they likely have more ways to fund their retirements, such as through pensions and savings. Means testing benefits for those with certain wealth or income could be another way to help reduce the program's shortfall.This would reduce the amount of benefits the top 20% of earners receive, and would reduce the shortfall by 11%.3. Gradually raising the retirement ageShare in support: 75%Democrats in support: 76%Republicans in support: 75%Your retirement age is when you stand to get the full benefits you earned based on your work record. Increases to the retirement age that were enacted in 1983 are still getting phased in today. For people born in 1960 or later, the full retirement age is 67.As many people work and live longer, some argue that the retirement age should be raised again. However, advocates for expanding Social Security are firmly against this benefit cut. Washington Democrats' proposals largely exclude this change.Such a move would reduce an estimated 14% of the shortfall.4. Increasing the payroll taxShare in support: 73%Democrats in support: 78%Republicans in support: 70%Currently, employers and employees each pay a tax of 6.2% of wages, and raising those rates could have a big impact on the program's solvency. The simulation called for raising that to 6.5%, which would help eliminate 16% of the shortfall.A previous version of the Social Security 2100 Act put forward by Rep. John Larson, D-Conn., proposed raising payroll tax rates for both workers and employers up to 7.4% each from its current 6.2%. That change would have been phased in gradually over more than 20 years. This would cost just 50 cents more per week for the average worker who earns $50,000, according to the proposal.While Larson compared it to the cost of a cup of coffee, Republicans bristled at the prospect of passing down higher tax rates to younger generations. The new Social Security 2100 Act no longer increases the payroll tax rate.5. Raising the minimum benefitShare in support: 64%Democrats in support: 71%Republicans in support: 59%For people who rely solely on Social Security benefits for income in retirement, surviving on the minimum benefit can be difficult. Sanders and Warren have proposed a bill that calls for making the minimum benefit indexed to 125% of the federal poverty line. Likewise, Larson's bill also seeks to raise the minimum benefit.That change would bring the minimum benefit for someone who has worked for 30 years up to $1,341 from $951, thereby increasing the shortfall by 7%.Congressional Democrats' Social Security proposals call for replacing the price index currently used to determine annual cost-of-living adjustments with the Consumer Price Index for the Elderly, or CPI-E.Sollina Images | Tetra Images | Getty Images6. Changing cost-of-living adjustment calculationsShare in support: 55%Democrats in support: 59%Republicans in support: 55%Social Security benefits are currently adjusted every year based on a subset of the Consumer Price Index, which measures changes in the prices consumers pay over time. Beneficiaries saw a record 5.9% increase in 2022, and are poised to see an even bigger boost to benefits in 2023.Yet many argue the measure used, the Consumer Price Index for Urban Wage Earners and Clerical Workers, or CPI-W, is not the best gauge of the costs retirees pay. Democratic proposals all call for replacing that measure with the Consumer Price Index for the Elderly, or CPI-E.That change would increase the shortfall by 12%.7. Increasing benefits for beneficiaries over age 80Share in support: 53%Democrats in support: 56%Republicans in support: 53%Increasing benefits for beneficiaries over age 80 by 5% would increase the shortfall by 5%. To be sure, benefit increases would not help the program's funding woes. But they may help ensure retirees can cover their costs for the duration of their retirement.The goal of the survey is not to take a partisan side, according to Kull.""We don't take a position except the position that the public should be heard,"" Kull said.""The public very strongly wants this,"" he said of the results.",7 changes Americans are willing to make to fix Social Security — including one with 'overwhelming bipartisan support'.
"Tourists wait to depart from Cancun's international airport in Mexico's state of Quintana Roo, October 7, 2020 REUTERS/Henry Romero/File PhotoRegister now for FREE unlimited access to Reuters.comMEXICO CITY, Aug 3 (Reuters) - Mexico's COVID-battered aviation sector has benefitted from a robust reactivation of travel, but analysts fear its takeoff could be soon shaken by recession in the United States.Profits of air terminal operators in Mexico's most important tourist destinations grew strongly last quarter, thanks to solid traffic numbers for both domestic and international passengers.""Aviation has had a surprising recovery,"" said Pablo Casas, director of the National Institute of Aeronautical Legal Research (INIJA). ""The long (pandemic) confinement led to this build up of travellers,"" he said.Register now for FREE unlimited access to Reuters.comAsur (ASURB.MX), which manages the airport for the Caribbean coastal city of Cancun, doubled its earnings during the second quarter from the year-ago-period.Meanwhile, GAP (GAPB.MX), which operates the air facility serving the booming resort area of Los Cabos, saw its second-quarter net profit soar 64%.Terminal operator OMA (OMAB.MX), more focused on business travellers with its main airfield in the industrial city of Monterrey, was not far behind, with net profit jumping 49% in the quarter.In 2020, when most travel was suspended due to COVID, some 48.4 million travellers took flights in Mexico. But after just the first five months of this year, tourism officials have recorded 41.6 million air passengers already.Still, the recovery could be stifled.Of the more than eight million international visitors arriving in Mexico by air in the January-May period, 67% were residents of the United States, where a recent fall in gross domestic product has raised fears of recession. read more ""Our market is in the United States,"" said Fernando Gomez, an independent airline industry analyst. ""A possible recession would obviously impact everyone, but it would hit Mexico directly.""For now, there remain reasons for optimism. Some 57% of Mexicans are planning vacation travel this summer, up from 36% in the year-ago-period, according to a survey by market research consultancy PQR Planning Quant - a level which could help keep domestic passenger traffic steady.The dynamism in the sector has helped domestic airlines deal with adverse conditions, including the U.S. Federal Aviation Agency's downgrade of Mexico's aviation safety rating in 2021, which has yet to be restored. read more Grupo Aeromexico (AEROMEX.MX), the country's main airline, recently emerged from bankruptcy and has been struggling with losses since before the pandemic. Nonetheless, its second-quarter revenue almost doubled.Competitor Volaris (VOLARA.MX) also saw its quarterly revenue grow, by a more modest 20%. But the surge was overshadowed by higher costs from aviation fuel price increases.That phenomenon is affecting most airlines across Latin America.Citing frequent jet fuel price increases, Brazil's Gol (GOLL4.SA) recently cut some of its financial goals for this year after reporting a steep net loss in the second quarter - even though its net sales tripled in the period. read more Register now for FREE unlimited access to Reuters.comReporting by Noe Torres; Writing by Valentine Hilaire; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Mexican aviation's takeoff could hit turbulence amid U.S. recession fears.
"A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Private equity firm Thoma Bravo is buying Ping Identity (PING.N) for $2.4 billion, deepening a bet on the cybersecurity sector that has been one of the big winners of the pandemic.The deal announced on Wednesday values each share of Ping Identity at $28.50, a premium of 63% to the last closing price of the company whose authentication and security services are used by businesses from Chevron Corp (CVX.N) to HP Inc (HPQ.N).Thoma Bravo has been on a shopping spree for cybersecurity firms in recent years, with its acquisitions including Sophos, Proofpoint and Sailpoint Technologies (SAIL.N).Register now for FREE unlimited access to Reuters.comAnalysts said the latest purchase - which has an equity value of $2.4 billion, according to a Reuters calculation - could work well with Thoma Bravo's other acquisitions because of similar areas of focus.""We could foresee them all being stitched together as an all-in-one identity platform at some point,"" D.A. Davidson analyst Rudy Kessinger said, adding the deal was ""one of the least surprising acquisitions"" he has ever seen.Thoma Bravo, whose assets under management total more than $114 billion, has also bought software firms such as Anaplan Inc in the past few years.Ping Identity's shares surged over 60% on Wednesday. The company's biggest shareholder is Vista Equity Partners with a stake of nearly 10%, according to Refinitiv data.Vista had bought Ping Identity in 2016 and then taken it public three years later in an initial public offering that valued the company at $1.16 billion.Vista has agreed to vote in favor of the deal, which has an enterprise value of $2.8 billion, Ping Identity said.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu and Akash Sriram in Bengaluru; Editing by Shailesh Kuber and Aditya SoniOur Standards: The Thomson Reuters Trust Principles.",Thoma Bravo deepens cybersecurity bet with $2.4 bln deal for Ping Identity.
"""I truthfully didn't even know the word entrepreneur. I was in my late thirties, and I didn't know the word 'brand,' I didn't know the word 'entrepreneur,'"" Bethenny Frankel, founder of SkinnyGirl, told Sharon Epperson at the CNBC Small Business Playbook virtual summit on Wednesday.Now, just over a decade later, Frankel is a widely successful and self-made entrepreneur, who sold her pre-packaged low-calorie margarita, Skinnygirl Cocktails, for a reported $120 million, and continues to delve into a series of ambitious business ventures with her Skinnygirl lifestyle brand, ranging from specialty food items to branded apparel. While she may not have always envisioned a life in business, she always envisioned her next big idea, and what it would take to turn it into reality, she told Epperson.""I just always was an ideas person. I could not help but to execute on crazy ideas that I had,"" Frankel said. The Skinnygirl brand was one of those ideas — the simple vision of having her own signature cocktail. ""I think very simply, I wanted to have a cocktail for myself, that I wanted to drink, and that could be a signature cocktail that I always went for,"" she explained.That personal need was not an idea she immediately knew would catch on with millions of others.""I had no idea that I was creating the first-ever low-calorie margarita or creating a category in ready-to-drink cocktails,"" she said. But once she realized how popular the concept was, she knew that she had the opportunity to turn it into a successful business. That transition to business building is where Frankel stresses that having a good entrepreneurial idea isn't what made her story exceptional. ""When you're young, and you think you're smart, everybody thinks they're smart. You think you have a good idea — everyone has a good idea,"" she said.A good idea may have been the start in setting her apart, but drive and motivation are more important in business. ""I've really realized it's those people that have that drive and that determination and that passion, that unstoppable nature — that's really the true ingredient for success,"" Frankel said. ""Because so many people have good ideas. And the world and technology and what's popular is changing all of the time, so if you have that constant — of being a hard, old-school worker, you'll be successful. People around you will see how valuable that is, because it's very, very rare,"" she added.Frankel says in addition to a strong work ethic, personal investment and authenticity are essential pieces in a successful entrepreneurial venture.  ""Business is lonely, you are alone,"" she said. ""You sign that dotted line alone, it's your reputation, it's all about you alone. … No one cares as much as you about your business,"" she told Epperson.  She also rejects the idea that business and personal life should — or can — be kept separate.The line between business life and personal life has become increasingly blurred, especially since the onset of the pandemic, as many workers began to work from home, and the decisions made in one sphere have held new significance in the other. And in a time characterized by inflation and rising interest rates, and in which business owners are increasingly concerned with supply chain issues and labor shortages, business choices have proven to be unavoidably personal choices, too. ""Business is very, very personal. How I spend my money in my personal life could affect the money that I would or wouldn't have to invest in business ideas. How I operate in my business life could affect the types of schools my daughter would have gone to, or how I treat my business affects how I spend my time — which is so personal,"" Frankel said.New business formation numbers have been high since the pandemic began, and Frankel said uncertain times also provide opportunity.  ""I think that people keep looking at the equation one way and keep trying the same key in the door, but now is the time when you have to fumble around and try a bunch of different keys and figure out what fits for you. Because when you have times of disarray, when you have times of crazy chaos, there is also a silver lining. There are other opportunities,"" she said. Frankel, who has bought and sold real estate over the years, pivoted to suburban real estate at the beginning of the pandemic, which proved to be a savvy business move. Still, even amid business evolution, staying grounded in your core mission is essential, according to Frankel. ""You have to be able to pivot and shift, but also stay true to the base and core of what your business is,"" she said. For any entrepreneur who is facing stagnation, Frankel advises focusing on their own needs and interests, rather than worrying about what others are doing. ""Think about what you react to. What are you consuming, what are you digesting, what are you interested in, what are you attracted to, what do you like, what do you not like? And put that forward in your work,"" she said. Frankel's personal wish for a low-calorie, ready-to-drink cocktail turned into a multimillion-dollar enterprise. It is this turning within, before expanding out into the market, that makes business, at its core, quintessentially personal.""It has to come from within. What really speaks to you, it's likely something that speaks to many people"" she said.",Self-made millionaire Bethenny Frankel on why good ideas are not enough to be successful in business.
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryCompaniesU.S. service sector unexpectedly picks up in JulyPayPal rises after raising profit outlookModerna jumps on $3 billion share buyback planIndexes: S&P 500 +1.58%, Nasdaq +2.53%, Dow +1.31%Aug 3 (Reuters) - Wall Street rallied on Wednesday, with strong profit forecasts from PayPal and CVS Health Corp lifting sentiment and helping drive the Nasdaq to its highest level since early May.Data showed the U.S. services industry unexpectedly picked up in July amid strong order growth, while supply bottlenecks and price pressures eased. This supported views that the economy was not in recession despite output slumping in the first half of the year. read more A fresh batch of strong results from companies including PayPal (PYPL.O) and CVS Health Corp boosted sentiment in a largely upbeat quarterly reporting season. It has helped markets rebound from losses caused by worries about decades-high inflation, rising interest rates and shrinking economic output.Register now for FREE unlimited access to Reuters.com""We're going through Q2 earnings and, by and large, from the tech complex to consumer discretionary and industrials, we're seeing a lot of better-than-feared prints, and that's just good enough right now,"" said Sahak Manuelian, managing director of trading at Wedbush Securities in Los Angeles.Apple (AAPL.O) and Amazon (AMZN.O) jumped more than 3% each, while Facebook-owner Meta Platforms (META.O) rallied almost 5%.PayPal Holdings jumped 9.5% after it raised its annual profit guidance and said activist investor Elliott Management had an over $2 billion stake in the financial technology firm. read more CVS Health Corp gained 5.4% as the largest U.S. pharmacy chain raised its annual profit forecast after posting strong quarterly results. read more Manuelian said an additional factor behind Wednesday's stock rally was growing confidence among investors that the Fed has already carried out the bulk of the interest rate hikes that will be necessary to bring inflation under control.Meanwhile, Richmond Federal Reserve President Thomas Barkin on Wednesday joined policymakers saying that the U.S. central bank is committed to getting inflation under control and returning it to its 2% target. read more In afternoon trading, the S&P 500 was up 1.58% at 4,155.65 points.The Nasdaq gained 2.53% to 12,661.05 points, while the Dow Jones Industrial Average was up 1.31% at 32,819.72 points.Additional data on Wednesday showed new orders for U.S.-manufactured goods increased solidly in June and business spending on equipment was stronger than initially thought, pointing to underlying strength in manufacturing despite rising interest rates. read more Of the 11 S&P 500 sector indexes, 10 rose, led by information technology (.SPLRCT), up 2.63%, followed by a 2.59% gain in consumer discretionary (.SPLRCD).The S&P 500 has rebounded about 13% from its closing low in mid-June and would have to climb another 15% to get back to its record high close in early January.Moderna Inc (MRNA.O) surged over 16% after the vaccine maker announced a $3 billion share buyback plan. read more Regeneron Pharmaceuticals climbed 6.1% after it beat quarterly revenue estimates, while coffee chain Starbucks Corp (SBUX.O) rose 4.4% after it reported upbeat quarterly profits. read more Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) by a four-to-one ratio. The S&P 500 posted two new highs and 30 new lows; the Nasdaq recorded 42 new highs and 31 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru and by Noel Randewich in Oakland, Calif; Editing by Sriraj Kalluvila, Arun Koyyur and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Nasdaq hits three-month high as PayPal fuels optimism.
"JetBlue Airways passengers in a crowded terminal on April 7, 2022 in the Fort Lauderdale-Hollywood International Airport in Fort Lauderdale, Florida.Robert Nickelsberg | Getty Images News | Getty ImagesIt wasn't long ago that Amazon, Shopify and Peloton doubled their workforces to manage through the pandemic surge, while Morgan Stanley staffed up to handle a record level of IPOs and mortgage lenders added headcount as rock-bottom rates led to a refinancing boom.On the flipside, Delta Air Lines, Hilton Worldwide and legions of restaurants slashed headcount because of lockdowns that rolled through much of the country and other parts of the world.Now, they're scrambling to reverse course.Companies that hired like crazy in 2020 and 2021 to meet customer demand are being forced to make sweeping cuts or impose hiring freezes with a possible recession on the horizon. In a matter of months, CEOs have gone from hyper-growth mode to concerns over ""macroeconomic uncertainty,"" a phrase investors have heard many times on second-quarter earnings calls. Stock trading app Robinhood and crypto exchange Coinbase both recently slashed more than 1,000 jobs after their splashy market debuts in 2021.Meanwhile, airlines, hotels and eateries face the opposite problem as their businesses continue to pick up following the era of Covid-induced shutdowns. After instituting mass layoffs early in the pandemic, they can't hire quickly enough to satisfy demand, and are dealing with a radically different labor market than the one they experienced over two years ago, before the cutbacks.""The pandemic created very unique, once-in-a-lifetime conditions in many different industries that caused a dramatic reallocation of capital,"" said Julia Pollak, chief economist at job recruiting site ZipRecruiter. ""Many of those conditions no longer apply so you're seeing a reallocation of capital back to more normal patterns.""For employers, those patterns are particularly challenging to navigate, because inflation levels have jumped to a 40-year high, and the Fed has lifted its benchmark rate by 0.75 percentage point on consecutive occasions for the first time since the early 1990s.The central bank's efforts to tamp down inflation have raised concerns that the U.S. economy is headed for recession. Gross domestic product has fallen for two straight quarters, hitting a widely accepted rule of thumb for recession, though the National Bureau of Economic Research hasn't yet made that declaration.The downward trend was bound to happen eventually, and market experts lamented the frothiness in stock prices and absurdity of valuations as late as the fourth quarter of last year, when the major indexes hit record highs led by the riskiest assets.That was never more evident than in November, when electric vehicle maker Rivian went public on almost no revenue and quickly reached a market cap of over $150 billion. Bitcoin hit a record the same day, touching close to $69,000.Since then, bitcoin is off by two-thirds, and Rivian has lost about 80% of its value. In July, the car company started layoffs of about 6% of its workforce. Rivian's headcount almost quintupled to around 14,000 between late 2020 and mid-2022.Tech layoffs and an air of cautionJob cuts and hiring slowdowns were big talking points on tech earnings calls last week.Amazon reduced its headcount by 99,000 people to 1.52 million employees at the end of the second quarter after almost doubling in size during the pandemic, when it needed to beef up its warehouse capabilities. Shopify, whose cloud technology helps retailers build and manage online stores, cut roughly 1,000 workers, or around 10% of its global workforce. The company doubled its headcount over a two-year period starting at the beginning of 2020, as the business boomed from the number or stores and restaurants that had to suddenly go digital.Shopify CEO Tobias Lutke said in a memo to employees that the company had wagered that the pandemic surge would cause the transition from physical retail to ecommerce to ""permanently leap ahead by 5 or even 10 years.""""It's now clear that bet didn't pay off,"" Lutke wrote, adding that the picture was starting to look more like it did before Covid. ""Ultimately, placing this bet was my call to make and I got this wrong. Now, we have to adjust."" After Facebook parent Meta missed on its results and forecast a second straight quarter of declining revenue, CEO Mark Zuckerberg said the company will be reducing job growth over the next year. Headcount expanded by about 60% during the pandemic.""This is a period that demands more intensity and I expect us to get more done with fewer resources,"" Zuckerberg said.Google parent Alphabet, which grew its workforce by over 30% during the two Covid years, recently told employees that they needed to focus and improve productivity. The company asked for suggestions on how to be more efficient at work. ""It's clear we are facing a challenging macro environment with more uncertainty ahead,"" CEO Sundar Pichai said in a meeting with employees. ""We should think about how we can minimize distractions and really raise the bar on both product excellence and productivity.""Few U.S. companies have been hit as hard as Peloton, which became an instant gym replacement during lockdowns and has since suffered from massive oversupply issues and out-of-control costs. After doubling headcount in the 12 months ended June 30, 2021, the company in February announced plans to cut 20% of corporate positions as it named a new CEO.Banks and Wall Street bracing for a 'hurricane'Some of the Pelotons that were flying off the shelves in the pandemic were being offered as perks for overworked junior bankers, who were sorely needed to help manage a boom in IPOs, mergers and stock issuance. Activity picked up with such ferocity that junior bankers were complaining about 100-hour workweeks, and banks started scouring for talent in unusual places like consulting and accounting firms.That helps explain why the six biggest U.S. banks added a combined 59,757 employees from the start of 2020 through the middle of 2022, the equivalent of the industry picking up the full population of a Morgan Stanley or a Goldman Sachs in a little over two years.It wasn't just investment banking. The government unleashed trillions of dollars in stimulus payments and small business loans designed to keep the economy moving amid the widespread shutdowns. A feared wave of loan defaults never arrived, and banks instead took in an unprecedented flood of deposits. Their Main Street lending operations had better repayment rates than before the pandemic.Among top banks, Morgan Stanley saw the biggest jump in headcount, with its employee levels expanding 29% to 78,386 from early 2020 to the middle of this year. The growth was fueled in part by CEO James Gorman’s acquisitions of money management firms E-Trade and Eaton Vance.At rival investment bank Goldman Sachs, staffing levels jumped 22% to 47,000 in the same timeframe, as CEO David Solomon broke into consumer finance and bolstered wealth management operations, including through the acquisition of fintech lender GreenSky.Citigroup saw a 15% boost in headcount during the pandemic, while JPMorgan Chase added 8.5% to its workforce, becoming the industry's largest employer.But the good times on Wall Street didn’t last. The stock market had its worst first half in 50 years and IPOs dried up. Investment banking revenue at the major players declined sharply in the second quarter.Goldman Sachs responded by slowing hiring and is considering a return to year-end job reductions, according to a person with knowledge of the bank’s plans. Employees typically make up the single biggest line item when it comes to expenses in banking, so when markets crater, layoffs are usually on the horizon. JPMorgan CEO Jamie Dimon warned investors in June that an economic ""hurricane"" was on its way, and said the bank was bracing itself for volatile markets.Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview in London, U.K., on Wednesday, May 4, 2022.Chris Ratcliffe | Bloomberg | Getty ImagesZipRecruiter's Pollak said one area in finance where there will likely be a hemorrhaging of workers is in mortgage lending. She said 60% more people went into real estate in 2020 and 2021 because of record low mortgage rates and rising home prices. JPMorgan and Wells Fargo have reportedly trimmed hundreds of mortgage staffers as volumes collapsed.""Nobody is refinancing anymore, and sales are slowing,"" Pollak said. ""You're going to have to see employment levels and hiring slow down. That growth was all about that moment.""The intersection of Silicon Valley and Wall Street is a particularly gloomy place at the moment as rising rates and crumbling stock multiples converge. Crypto trading platform Coinbase in June announced plans to lay off 18% of its workforce in preparation for a ""crypto winter"" and even rescinded job offers to people it had hired. Headcount tripled in 2021 to 3,730 employees.Stock trading app Robinhood said Tuesday it's cutting about 23% of its workforce, a little over three months after eliminating 9% of its full-time staff, which had ballooned from 2,100 to 3,800 in the last nine months of 2021.""We are at the tail end of that pandemic-era distortion,"" said Aaron Terrazas, chief economist at job search and review site Glassdoor. ""Obviously, it's not going away, but it is changing to a more normalized period, and companies are adapting to this new reality.""Retail is whipsawing back and forthIn the retail industry, the story is more nuanced. At the onset of the pandemic, a stark divide quickly emerged between businesses deemed to be essential versus those that were not.Retailers like Target and Walmart that sold groceries and other household goods were allowed to keep their lights on, while malls filled with apparel shops and department store chains were forced to shut down temporarily. Macy's, Kohl's and Gap had to furlough the majority of their retail employees as sales screeched to a halt.But as these businesses reopened and millions of consumers received their stimulus checks, demand roared back to shopping malls and retailers' websites. Companies hired people back or added to their workforce as quickly as they could.Last August, Walmart began paying special bonuses to warehouse workers and covering 100% of college tuition and textbook costs for employees. Target rolled out a debt-free college education for full- or part-time employees, and boosted staff by 22% from early 2020 to the start of 2022. Macy's promised better hourly wages.They hardly could have predicted how quickly the dynamic would shift, as rapid and soaring inflation forced Americans to tighten their belts. Retailers have already started to warn of waning demand, leaving them with bloated inventories. Gap said higher promotions will hurt gross margins in its fiscal second quarter. Kohl's cut its guidance for the second quarter, citing softened consumer spending. Walmart last week slashed its profit forecast and said surging prices for food and gas are squeezing consumers.That pain is filtering into the ad market. Online bulletin board Pinterest on Monday cited ""lower than expected demand from U.S. big box retailers and mid-market advertisers"" as one reason why it missed Wall Street estimates for second-quarter earnings and revenue.Retail giants have so far avoided big layoff announcements, but smaller players are in cut mode. Stitch Fix, 7-Eleven and Game Stop have said they'll be eliminating jobs, and outdoor grill maker Weber warned it's considering layoffs as sales slow.The travel industry can't hire fast enoughWith all of the downsizing taking place across wide swaths of the U.S. economy, the applicant pool should be wide open for airlines, restaurants and hospitality companies, which are trying to repopulate their ranks after undergoing mass layoffs when Covid-19 hit.It's not so easy. Even though Amazon has reduced headcount of late, it's still got far more people working in its warehouses than it did two years ago. Last year the company lifted average starting pay to $18 an hour, a level that's difficult to meet for much of the services industry.Hilton CEO Christopher Nassetta said on the quarterly earnings call in May that he wasn't satisfied with customer service and that the company needs more workers. At the end of last year, even as travel was rebounding sharply, headcount at Hilton's managed, owned and leased properties as well as corporate locations was down by over 30,000 from two years earlier.It's easy to see why customer service is a challenge. According to a report last week from McKinsey on summer 2022 travel trends, revenue per available room in the U.S. ""is outstripping not just 2020 and 2021 levels, but increasingly 2019 levels too.""Delta Airlines passenger jets are pictured outside the newly completed 1.3 million-square foot $4 billion Delta Airlines Terminal C at LaGuardia Airport in New York, June 1, 2022.Mike Segar | ReutersAt airlines, headcount fell as low as 364,471 in November 2020, even though that wasn't supposed to happen. U.S. carriers accepted $54 billion in taxpayer aid to keep staff on their payroll. But while layoffs were prohibited, voluntary buyouts were not, and airlines including Delta and Southwest shed thousands of workers. Delta last month said it has added 18,000 employees since the start of 2021, a similar number to what it let go during the pandemic in order to slash costs.The industry is struggling to hire and train enough workers, particularly pilots, a process that takes several weeks to meet federal standards. Delta, American Airlines and Spirit Airlines recently trimmed schedules to allow for more wiggle room in handling operational challenges.""The chief issue we're working through is not hiring but a training and experience bubble,"" Delta CEO Ed Bastian said on the quarterly earnings call last month. ""Coupling this with the lingering effects of Covid and we've seen a reduction in crew availability and higher overtime. By ensuring capacity does not outstrip our resources and working through our training pipeline, we'll continue to further improve our operational integrity.""Travelers have been less than pleased. Over the Fourth of July holiday weekend, more than 12,000 flights were delayed due to bad weather and not enough staff. Pilots who took early retirement during the pandemic don't appear terribly inclined to change their mind now that their services are once again in high demand.""When we look at labor shortages related to travel, you can't just flip a switch and suddenly have more baggage handlers that have passed security checks, or pilots,"" said Joseph Fuller, professor of management practice at Harvard Business School. ""We're still seeing people not opt in to come back because they don't like what their employers are dictating in terms of working conditions in a post-lethal pandemic world.""— CNBC's Ashley Capoot and Lily Yang contributed to this report.WATCH: Big Tech reports earnings, most guide higher despite macro headwinds","The confusing job market: Tech and finance brace for the worst, retail is mixed, travel can't hire fast enough."
"Politics August 3, 2022 / 12:17 PM / CBS News Washington — President Biden is set to sign an executive order Wednesday aimed at making it easier to travel to obtain an abortion and enforcing federal non-discrimination laws for those seeking the procedure, his latest unilateral effort to secure abortion rights in the wake of the Supreme Court's decision to strike down Roe v. Wade.The order directs the secretary of health and human services to consider actions to support patients traveling out of state for abortions, including through the use of waivers that would allow states where abortion is legal to cover the cost of the procedure under Medicaid for out-of-state residents. The order also directs the secretary to make sure health care providers comply with federal non-discrimination laws, and asks him to evaluate and improve research and analysis on maternal health outcomes. ""Today I'll sign a second executive order to address the reproductive health care crisis since Roe was overturned,"" the president tweeted Wednesday. ""It will support women traveling for abortion care, ensure providers comply with the law when women require medical care, and advance maternal health research."" The president is signing the executive action Wednesday during a virtual appearance at the first meeting of his newly created Task Force on Reproductive Healthcare Access. Mr. Biden is still recovering from a ""rebound"" case of COVID-19 and isolating at the White House.The White House has said it continues to look for actions the president can take on his own to protect access to abortions in light of Roe's reversal, but the steps the president has taken so far shed light on just how limited his powers are without congressional action. The president has alluded to his limitations without the legislative branch before, and consistently encourages Congress to enshrine abortion protections into federal law.  ""The only way we can secure a woman's right to choose and the balance that existed is for Congress to restore the protections of Roe v. Wade as federal law,"" the president said in remarks after the Supreme Court overturned the decision in Roe v. Wade. ""No executive action from the president can do that.""At the task force meeting, Cabinet heads will report on progress they've made on executing a July 8 directive the president issued to preserve abortion access. That executive order asked the Justice Department to do everything in its power to protect women seeking an abortion, including protecting their right to travel to another state and access approved abortion drugs. It also sought to ensure all women and girls experiencing the loss of a pregnancy can receive the medical care they need, no matter their state.The Justice Department filed suit against the state of Idaho on Tuesday, claiming a law that bans virtually all abortions runs afoul of a federal law guaranteeing treatment, including abortion, to women facing medical emergencies. The suit is the first legal challenge the Biden administration has mounted to a state law since Roe was reversed.Some Democrats were underwhelmed by Mr. Biden's initial response to the Supreme Court's decision, arguing the White House should have been more prepared. The president, while taking all actions the administrative believes it can do at a given point in time, has suggested the ball is in Congress' court. The House has approved legislation to protect abortion rights, but the Senate lacks the votes to follow suit. Meanwhile, both those who support abortion rights and those who oppose them have begun to take matters into their own hands at the state level. On Tuesday night, voters in deep-red Kansas overwhelmingly rejected a measure that would have nixed abortion access protections from the Kansas Constitution.""Kansans stood up for fundamental rights today,"" tweeted Kansas' Democratic Gov. Laura Kelly. ""We rejected divisive legislation that jeopardized our economic future & put women's health care access at risk. Together, we'll continue to make incredible strides to make KS the best state in the nation to live freely & do business.""Sean Conlon contributed reporting. Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C.",Biden to sign executive order to support travel for abortions in latest move aimed at protecting access.
"Crime Updated on: August 3, 2022 / 1:42 PM / CBS/AP Therapy dog helps Highland Park heal after shooting Therapy dog helps Highland Park heal after shooting 01:41 The man accused of killing seven people and wounding dozens more in a mass shooting at a Fourth of July parade in Highland Park, Illinois, pleaded not guilty on Wednesday. An attorney representing Robert Crimo III, the 21-year-old suspect, submitted the plea one week after prosecutors announced that a grand jury had indicted him on 117 felony counts for the attack.The suspect appeared for a brief hearing Wednesday in Lake County's circuit court to enter a formal plea to the charges — 21 counts of first-degree murder, 48 counts of attempted murder and 48 counts of aggravated battery representing those killed and wounded during the parade in Highland Park, a suburb north of Chicago.The suspect wore a COVID-19 face mask throughout the 10-minute arraignment and repeatedly told Judge Victoria Rossetti that he understood the charges and potential penalties he faces, including life imprisonment. People lay flowers and cards near a spot where a mass shooting took place during the 4th of July parade in Highland Park, Illinois, on July 10, 2022. Jacek Boczarski/Anadolu Agency via Getty Images Lake County prosecutors in late July announced that a grand jury had indicted the suspect on the charges. The prosecutors had previously filed seven murder charges against the 21-year-old in the days following the shooting. The multiple first-degree murder charges allege the suspect intended to kill, caused death or great bodily harm, and took action with a strong probability of causing death or great bodily harm to the seven people who died. A representative for the county public defenders office, which is representing the suspect, has said the office does not comment publicly on any cases. An attorney with the office entered his not guilty plea during Wednesday's court appearance. Prosecutors have said the suspect admitted to the shooting once police arrested him following an extended search for the gunman who opened fire from the rooftop of a building along the parade route. Highland Park Mayor addresses Senate Judiciary Committee about gun violence and banning assault-style weapons 04:32 Authorities have reported that the ages of those wounded ranged from eight to more than 80 years old. An 8-year-old boy, Cooper Roberts, was one of the youngest victims and among the 38 people injured. He was paralyzed from the waist down when his spine was severed during the shooting. Cooper is now in a rehab-focused hospital.A motive for the attack has yet to be determined.In comments delivered after the hearing, Lake County State's Attorney Eric Rinehart declined to say whether the suspect could face additional charges and said he would not comment on whether his parents could be charged. Some in the community have questioned why the suspect's parents apparently supported his interest in guns only months after he reportedly threatened suicide and violence.George Gomez, an attorney representing the suspect's parents, said Wednesday that they are not concerned that criminal charges could be filed against them. Both attended Wednesday's hearing where they sat quietly behind their son.Speaking with reporters afterward, Gomez described his clients as ""devastated"" and ""heartbroken"" for Highland Park and he said they are cooperating with authorities.If convicted of killing at least two people, the suspect will face a mandatory life sentence, according to CBS Chicago. Meanwhile, the attempted murder charges carry a maximum sentence of life in prison, and the aggravated battery charges each carry up to 30 years in prison.The suspect is being held without bond and is expected back in court on Nov. 1, CBS Chicago reports. In: Highland Park Illinois Gun Violence Mass Shooting Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Highland Park shooting suspect pleads not guilty to over 100 felony counts, including murder and attempted murder."
"Canadian Foreign Minister Melanie Joly arrives for a two day NATO foreign ministers meeting in Berlin, Germany May 14, 2022. REUTERS/Michele TantussiRegister now for FREE unlimited access to Reuters.comMontreal, Aug 3 (Reuters) - Canada is extremely concerned with heightened tensions after U.S. House Speaker Nancy Pelosi's Taiwan visit this week, Canadian Foreign Minister Melanie Joly said on Wednesday, calling on China to de-escalate the situation.""We think that legislators do visits around the world and clearly the visit cannot be used as a justification for heightened tensions or a pretext,"" Joly, speaking alongside her German counterpart Annalena Baerbock, told reporters in Montreal.""So, in that sense we call on China to de-escalate because we think that there may be risks of not only heightened tensions, but also destabilizing the region,"" Joly said.(This story corrects spelling of China in headline)Register now for FREE unlimited access to Reuters.comReporting by Allison Lampert in Montreal and Ismail Shakil in OttawaOur Standards: The Thomson Reuters Trust Principles.",Canada minister calls on China to de-escalate tensions after Pelosi's Taiwan visit.
"If you don't have rich parents, the difference between riding in coach and taking private jets might depend on where you grow up.That's according to a study published in the scientific journal Nature in two parts on Monday. Researchers who studied 21 billion Facebook friendships found that children have a higher chance of eventually climbing social and professional ladders if they're friends with kids in higher-income families. And such socioeconomic mingling is more common in some parts of the country than others, the study noted.The study's authors measured the ""social connectedness"" — or meaningful interaction between rich and poor residents — in counties across America, and determined that ""if children with low-income parents were to grow up in counties with economic connectedness comparable to that of the average child with high-income parents, their incomes in adulthood would increase by 20% on average.""The study also noted that the value of social connectedness ""is equivalent to the difference in average outcomes between a child who grows up in a family that makes $47,000 a year instead of $27,000 a year.""Out of the country's 200 largest counties, these are the study's top 11 cities where such social connectedness thrives:San FranciscoUtah County, UtahLoudoun, VirginiaSnohomish, WashingtonNorfolk, MassachusettsFairfax County, VirginiaSan Mateo, CaliforniaWaukesha, WisconsinSanta Clara, CaliforniaDavis, UtahHonoluluSan Francisco leads the pack: Residents have roughly an 80% chance of being exposed to high-income peers, and poorer people are about 6% more likely to befriend someone in a higher income household, the study said.The reason has nothing to do with admiring your friends' fancy cars or designer bags. Rather, wealthy parents often pour resources into teaching their children how to network, apply for jobs and acquire a bevy of professional skills — and the children tend to share their learnings with the people around them, according to the study.Matthew Jackson, an economics professor at Stanford and one of the study's authors, says several factors could explain why the phenomenon is more common in some cities than others, ranging from the size of local high schools to the particular attitudes of specific communities.One of the largest factors is the average income of a city's residents, Jackson says: The median household income in San Francisco is $119,000 per year, according to the U.S. Census. By comparison, Cameron County, Texas — one of the country's worst cities for social connectedness, the study said — has a median household income of $41,200 per year.""Often, the areas that are really [socially connected] are mostly rich people,"" Jackson tells CNBC Make It. ""I think that's one of the challenges: How do you build these connections in areas where you're predominately dealing with poor people?""Jackson also says the financial segregation of richer and poorer communities comes into play. If people of varying levels of income don't live in the same neighborhoods, they'll interact less.This research isn't a closed book. For example, Jackson says he's still trying to figure out why Minneapolis appears to be much more socially connected than Indianapolis, despite similar demographics across the two Midwestern cities.""It's hard to know what exactly is responsible for [that difference] and how much of it is dependent on culture,"" Jackson says. ""I think there's a lot more we'd like to know about what exactly can foster these cross-class ties.""Jackson says he hopes that more data can help bring more people out of poverty.""This data can help school administrators and community leaders understand why people aren't connecting, and hopefully it will influence policies,"" he says. ""But this is an ongoing project. Now that the scale of this data and the richness of it is available to lots of researchers, we hopefully can start answering all kinds of questions.""Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:Here’s how much money it takes to be considered wealthy in 12 major U.S. citiesBye bye, San Francisco: The top 7 U.S. cities homebuyers are seeking to leave",These 11 U.S. cities give you the best chance to earn more money than your parents—and none are New York or LA.
"A barista makes coffee for a customer in Houston, Texas, U.S., March 10, 2021. REUTERS/Callaghan O'Hare/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryServices sector PMI increases 1.4 points to 56.7 in JulyNew orders up solidly; prices post biggest drop since 2017Employment measure improves; worker shortages persistWASHINGTON, Aug 3 (Reuters) - The U.S. services industry unexpectedly picked up in July as new orders grew solidly, supporting views that the economy was not in recession despite output slumping in the first half.The Institute for Supply Management (ISM) survey on Wednesday also showed supply bottlenecks were easing while a measure of prices paid by businesses dropped by the most since 2017, benefiting in part from declining commodity prices. But shortages of labor, especially truck drivers, persisted.""The recovery's best days are clearly in the rear-view mirror, but this doesn't mean a downturn has begun,"" said Oren Klachkin, lead U.S. economist at Oxford Economics in New York. ""Fundamentals are strong enough to prevent a recession this year, though the window to achieving a softish landing is narrowing.""Register now for FREE unlimited access to Reuters.comThe ISM's non-manufacturing PMI rebounded to a reading of 56.7 last month from 55.3 in June, ending three straight monthly declines. Thirteen industries, including mining, public administration and wholesale trade reported growth. But agriculture, forestry, fishing and hunting, as well as retail trade and finance and insurance contracted.Economists polled by Reuters had forecast the non-manufacturing PMI decreasing to 53.5. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.The surprise rebound followed the ISM's manufacturing survey on Monday showing factory activity slowing moderately last month. It was in stark contrast with the S&P Global survey showing the services sector shrinking in July.The government reported last week that the economy contracted 1.3% in the January-June period.Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame. Overall economic momentum has, however, cooled as the Federal Reserve aggressively tightens monetary policy to fight inflation.""The ISM activity is consistent with GDP growth of close to 2% annualized, rather than the outright declines seen over the first half of the year,"" said Michael Pearce, senior U.S. economist at Capital Economics in New York. ""With borrowing costs down from their June peak, and falling gasoline prices likely to feed through to rising real disposable incomes, the immediate outlook for services is looking a little brighter.""National average gasoline prices have dropped from above $5 per gallon in July to $4.16 on Wednesday, according to AAA.Stocks on Wall Street were trading higher. The dollar rose against a basket of currencies. Most U.S. Treasury yields climbed to two-week highs.WEAK SPOTS EMERGINGThe ISM's measure of new orders received by services businesses shot up to 59.9 from 55.6 in June. Businesses reported a rise in exports.Services activity is being supported by a shift in spending from goods. But signs of weakness are mounting.Accommodation and food services businesses reported that ""restaurant sales have softened the past few weeks."" Businesses in the management of companies and support services sector said they ""can feel the economy weakening,"" and that ""clients are making appropriate moves in anticipation of a recession.""Retailers said they were ""in inventory reduction mode, attempting to match inventory levels to current lower sales trends."" In the public administration sector, there was ""pressure of a job market shortage for qualified workers to increase wages and other benefits.""The ISM's services industry employment gauge improved to 49.1 from 47.4 in June, which was the lowest reading since July 2020. Though demand for workers in industries like construction, wholesale and retail trade is easing, labor remains in short supply. According to the survey, companies reported ""employee turnover, backfills taking longer to locate and onboard.""Businesses also said they were experiencing ""difficulties hiring new candidates as we lose more people who retire or leave the company for new opportunities.""The government reported on Tuesday that there were 10.7 million job openings at the end of June, with 1.8 openings for every unemployed person. read more The survey's measure of supplier deliveries fell to 58.3 from 61.9 in June, helping to slow the pace of increase in services inflation. A reading above 50 indicates slower deliveries. Backlog orders were also reduced.Goods like appliances, computer hardware, electrical components, paper products as well as needles and syringes remained in short supply.A gauge of prices paid by services industries for inputs declined to 72.3, the lowest reading since February 2021, from 80.1 in June. The 7.8 percentage points drop was largest since May 2017. This, together with a moderation in prices at the factory gate in July, suggests that inflation has probably peaked. read more ""The recent easing in prices may in part be due to the move lower in commodity prices, but nonetheless this broad easing of price pressure will be welcome news for policymakers tasked with quelling inflation,"" said Shannon Seery, an economist at Wells Fargo in New York.Register now for FREE unlimited access to Reuters.comReporting By Lucia Mutikani; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.","U.S. services sector surprises with momentum; supply, price pressures easing."
"Team Hy Flyers Phil Mickelson of the U.S. speaks to the media after the first round of the inaugural LIV Golf Invitational, June 9, 2022.Paul Childs | Action Images via ReutersEleven professional golfers filed an antitrust lawsuit against the PGA Tour Wednesday after being suspended from playing in the tour over their involvement with the Saudi-backed LIV league. The complaint, filed with the U.S. District Court for the Northern District of California, ratchets up an ongoing battle between LIV Golf and the PGA Tour.Phil Mickelson, Bryson DeChambeau, Ian Poulter and Talor Gooch, among others, allege in the filing that the PGA's restrictive policies are an attempt to choke off the supply of professional golfers to LIV, thus limiting LIV's ability to compete with the tour.The golfers are asking that their suspensions be lifted and for unspecified monetary damages. Three of the plaintiffs — Gooch, Hudson Swafford and Matt Jones — are further requesting a temporary restraining order against the Tour allowing them to participate in the FedEx Cup Playoffs for which they qualified and which start next week.The PGA Tour didn't immediately return request for comment Wednesday. The tour suspended 17 players in June for playing in the LIV Golf Tournament without getting the proper media clearances.The lawsuit highlights what it describes as restrictive media rights and conflicting event regulations in calling the PGA Tour ""an entrenched monopolist with a vice-grip on professional golf"" executing a ""carefully orchestrated plan to defeat competition.""The complaint alleges that, beyond suspensions and regulations, the PGA Tour threatened sponsors, vendors and agents to coerce players into leaving LIV Golf.""The players are right to have brought this action to challenge the PGA's anti-competitive rules and to vindicate their rights as independent contractors to play where and when they choose,"" LIV Golf said in a statement. ""Despite the PGA Tour's effort to stifle competition, we think golfers should be allowed to play golf.""Last month, the PGA Tour confirmed the Justice Department is also investigating potential antitrust violations tied to LIV Golf.Meanwhile, the PGA Tour has been lobbying lawmakers and White House officials, pushing for opposition to the Saudi league.—CNBC's Jessica Golden, Dan Mangan and Kevin Breuninger contributed to this report.","Mickelson, DeChambeau and other LIV golfers file antitrust lawsuit against PGA Tour over suspensions."
"Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. REUTERS/Andrew Kelly/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 3 (Reuters) - Ben & Jerry's independent board said parent company Unilever Plc, (ULVR.L) with which it is locked in a dispute over the sale of its Israeli business, had frozen its directors' salaries in July as a pressure tactic ahead of a mediation on the matter.The Cherry Garcia ice cream maker surpassed $1 billion in sales last year for the first time, becoming one of 13 Unilever brands to achieve such a scale, the board also said.Ben & Jerry's sued Unilever, which has owned the Burlington, Vermont-based company since 2000, on July 5 to try to stop the sale of its business in Israel to local licensee Avi Zinger.Register now for FREE unlimited access to Reuters.comBen & Jerry's last year said it no longer wanted to sell its products in the occupied West Bank because it was ""inconsistent"" with its values, which prompted Unilever to make the sale. read more The deal with Zinger made the ice cream available to all consumers in Israel and the occupied West Bank.""This decision for us to go to court is because of Unilever's sale without our input, which is a clear violation of the letter and the spirit of our original acquisition agreement with Unilever,"" board chairperson Anuradha Mittal said in an interview with Reuters. ""If Unilever is willing to so blatantly violate the agreement that has governed the parties' conduct for over two decades, then we believe it won't stop with this issue.""""If left unaddressed, Unilever's actions will undermine our social mission and essential integrity of the brand, which threatens our reputation and ultimately our business as a whole,"" she added.Unilever said in a statement that it reserved primary responsibility for financial and operational decisions under the terms of its acquisition agreement of Ben & Jerry's, and ""therefore has the right to enter this agreement with Avi Zinger.""Ben & Jerry's and Unilever last month tried to reach an out-of-court deal on the spat but on Monday notified a federal court they had failed to do so. read more A hearing on Ben & Jerry's request to block the sale is scheduled for Monday, Aug. 8.Unilever has said in court papers that Mittal was aware of the deal with Zinger.Ben & Jerry's responded in court filings that it did not see the full business transaction agreement with Zinger until it was filed in court, and only had four days' notice of the deal.The battle has tested how far Unilever is willing to go to give its brands freedom to have social missions.Unilever has more than 400 brands, including Dove soap, Hellmann's mayonnaise, Knorr soup and Vaseline skin lotion.Register now for FREE unlimited access to Reuters.comReporting by Jessica DiNapoli in New York; Editing by Bradley Perrett and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.Jessica DiNapoliThomson ReutersNew York-based reporter covering U.S. consumer products spanning from paper towels to packaged food, the companies that make them and how they're responding to the economy. Previously reported on corporate boards and distressed companies.",Ben & Jerry's says Unilever froze directors' salaries.
"Ford F-150 Lightning at the 2022 New York Auto Show.Scott Mlyn | CNBCDETROIT – Ford Motor's U.S. vehicle sales last month showed notable improvements in volumes and truck availability, following a fire at a supplier's plant in Japan that hurt its year-ago sales.The Detroit automaker said Wednesday its new vehicle sales rose 36.6% in July from a year ago, compared to industry sales that were estimated to have declined by 10.5%. Ford's July sales of 163,942 vehicles were up 7.7% from June.A year ago, Ford's vehicle production and sales were down more than other automakers due to a fire at one of its chip suppliers in Japan that forced production cuts during the first half of 2021.Ford's stock was up by as much as 6.5% during trading Wednesday morning to $16.15 a share. Despite having its best performance last month since the Great Recession, the stock remains down about 24% in 2022.Sales of Ford's profitable F-Series pickups hit 63,341 in July – marking the first time units have topped 60,000 this year. The sales were up 21.1% compared to a year ago and up roughly 10% from the previous month.Ford said its share of the U.S. electric vehicle market last month hit a record 10.9%, as the company increases production and availability of the F-150 Lightning pickup, Mustang Mach-E crossover and E-Transit van.Ford said electric vehicle sales totaled 30,648 units through July. That included sales of about 7,700 vehicles in July, which was 169% increase from a year ago.Sales of all Ford's vehicles, including its luxury Lincoln brand, totaled more than 1 million units through July, a 3.3% decrease from a year ago. At the end of last month, the automaker's U.S. vehicle inventory was about 245,000 units, up from 160,000 in July 2021.Cox Automotive expects total U.S. vehicle sales to be 14.4 million units in 2022, down from a previous forecast of 15.3 million, due to greater than expected supply chain issues. At current sales rates, new-vehicle sales this year would finish below 2020, when the coronavirus pandemic forced dealers and factories to temporarily shutter.","Ford reports big jump in July sales, including for trucks and electric vehicles."
"The Amil Participacoes SA's headquarters is pictured in Rio de Janeiro on October 8, 2012 just before UnitedHealth Group Inc bought it. REUTERS/Ricardo Moraes/File PhotoRegister now for FREE unlimited access to Reuters.comSAO PAULO, Aug 3 (Reuters) - UnitedHealth Group Inc (UNH.N), the top U.S. healthcare company by market capitalization, is struggling to sell Brazilian unit Amil due to antitrust issues and growing losses from individual health plans, according to four people with knowledge of the matter.After studying ways to divest Amil 10 years after acquiring it, UnitedHealth decided last month to suspend the sale process, the sources said, asking for anonymity because the discussions were private.UnitedHealth had agreed to pay acquirers for Amil's loss-making units and lose money on the sale of the whole company, but did not receive an attractive proposal, the sources added.Register now for FREE unlimited access to Reuters.comThe latest talks involved Brazilian medical labs company Diagnosticos de America SA, or Dasa (DASA3.SA), and the insurance unit of Banco Bradesco SA (BBDC4.SA). As Dasa shares fell 44% this year, the idea of a deal paid partially in shares became much less viable, the people added.UnitedHealth declined to comment on details of its Brazilian operations or negotiations.""UHG is a long term investor in Brazil, first entering the market in 2012, and UHG intends to continue to serve the Brazilian health care market,"" UnitedHealth spokesman Matthew Stearns said in an e-mailed statement.Private equity funds also looked at the deal, but decided not to bid due to its complexity, a fifth source said.Dasa and Bradesco proposed delayed payment while keeping UnitedHealth as minority shareholder, which the U.S. company rejected, the sources added.Dasa and Bradesco declined to comment. BTG Pactual, which is handling the mandate, did not reply to a request for comment.UnitedHealth had accepted to lose money on the sale, as it had become clear that it would not fetch the $5 billion it paid for the company 10 years ago, according to the people. The value of the Brazil business is now estimated at $1 billion, said two of the sources.UnitedHealth has not booked any loss related to Amil. In January, the company changed how it reports international businesses. Amil is now part of the employer & individual health plan division, which includes operations in the United States.Some of Amil's largest rivals, such as hospital chain Rede D'Or Sao Luiz SA (RDOR3.SA), had looked into a potential acquisition in January, sources said, but closed other deals after that, creating potential antitrust restrictions.Rede D'Or announced in February acquisition of insurer SulAmerica SA (SULA11.SA)..Rede D'Or did not immediately respond to requests for comment.REGULATORY HEADACHESUnitedHealth Group CEO Andrew Witty took the decision to sell Amil soon after taking the helm last year, one of the sources said.UnitedHealth has 3.4 million health insurance beneficiaries in Brazil, 2.2 million clients of dental benefits, and owns and manages 31 hospitals and 82 clinics. The Brazilian hospitals and part of the insurance portfolio are profitable, sources said.Gaps in the public healthcare system have led a growing number of Brazilians to rely on private health insurance, which now serves around 49 million people.However, decisions by Brazilian healthcare regulator ANS have created headaches for the segment since UnitedHealth acquired Amil. Its portfolio of 340,000 individual healthcare plans is subject to the regulator's strict pricing caps, while coverage has expanded due to rulings by courts and regulators.Many insurers in Brazil stopped selling individual health plans due to mounting losses, but Amil cannot cancel its existing portfolio.Under one proposal, UnitedHealth offered to pay an investment firm $550 million to take over the individual insurance portfolio, but regulators blocked the deal. read more Meanwhile, UnitedHealth has almost tripled its global revenue since acquiring Amil in 2012, to $290 billion last year, dwarfing its investment in Brazil. In addition to health plans, UnitedHealth runs pharmacy services, data analytics and medical practices.($1 = 5.4039 reais)Register now for FREE unlimited access to Reuters.comReporting by Tatiana Bautzer; Editing by Caroline Humer, Brad Haynes, Sandra Maler and David HolmesOur Standards: The Thomson Reuters Trust Principles.",EXCLUSIVE UnitedHealth struggling to sell Brazilian unit Amil - sources.
"U.S. August 3, 2022 / 12:39 PM / AP The husband of U.S. Speaker of the House Nancy Pelosi pleaded not guilty Wednesday to misdemeanor driving under the influence charges related to a May car crash in Northern California wine country. Paul Pelosi, 82, did not appear in person at Napa County Superior Court Wednesday. His attorney Amanda Bevins entered not guilty pleas for him on charges of driving under the influence of alcohol causing injury and driving with a .08% blood alcohol level or higher causing injury.State law allows for DUI misdemeanor defendants to appear through their attorney unless ordered otherwise by the court. He was arrested following a May 28 crash in Napa County, north of San Francisco, after a DUI test showed he had a blood alcohol content level of .082%. The blood sample was taken about two hours after the collision occurred at 10:17 p.m., the Napa County District Attorney's Office said in a statement.Pelosi was driving a 2021 Porsche into an intersection near the wine country town of Yountville that was hit by a 2014 Jeep, according to the California Highway Patrol. Prosecutors filed the case as a misdemeanor because of the injuries sustained by the 48-year-old driver of the Jeep. They have not described the injuries or provided more information about the other driver, saying the person has requested privacy. Pelosi was released on $5,000 bail after his arrest.If convicted, Pelosi faces up to a minimum of five days in jail and up to five years of probation. He would also be required to complete a drinking driver class and install an ignition interlock device in his vehicle — a breathalyzer that requires the driver to blow into it before operating the vehicle, prosecutors said. Pelosi has been married to the powerful Democratic speaker since 1963. She is traveling in Asia this week. In: Monkeypox Nancy Pelosi California Crime San Francisco Napa","Paul Pelosi, Nancy Pelosi's husband, pleads not guilty to DUI misdemeanor charges."
"A child looks back at a banner for Roblox, displayed to celebrate the company's IPO, on the front facade of the New York Stock Exchange (NYSE) in New York, U.S., March 10, 2021. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comLaw firmsRelated documents(Reuters) - A line of dolls based on Roblox Corp's online gaming avatars violates its copyrights and trademarks, the company said in a lawsuit filed Tuesday in San Francisco federal court.WowWee Group Ltd's ""My Avastars"" dolls unlawfully copy the distinctive blocky designs of player avatars in Roblox's popular game platform, and were not authorized despite WowWee's partnership with an in-game designer, Roblox said.Roblox declined to comment on the lawsuit. WowWee did not immediately respond to a request for comment Wednesday.Register now for FREE unlimited access to Reuters.comRoblox is one of the world's most popular online gaming sites and one of the first companies to focus on the metaverse. Its platform allows users to build ""experiences"" like games, events, and virtual places, which they visit with character avatars.Roblox's Monday lawsuit said Hong Kong-based WowWee teamed with one of the most popular experience developers, Gamefam, to create a line of personalized dolls that match player avatars in a role-playing experience called ""My Avastars: RP.""Gamefam is not a defendant in the case, and did not immediately respond to a request for comment.""Observing the centrality of Roblox's avatars to its success, WowWee saw a chance for a quick buck,"" the lawsuit said, and ""chose to exploit Roblox's success — its brand, its reputation, its goodwill, and its intellectual property — without ever involving Roblox.""Roblox also said it already has a deal with another company, Jazwares LLC, to make avatar dolls, and that WowWee never asked for a similar license.The lawsuit accused WowWee of infringing Roblox's copyrights and trademark rights, breaching its terms of use, and falsely advertising that the dolls were affiliated with Roblox. It asked the court to block sales of the dolls and requested an unspecified amount of money damages.The case is Roblox Corp v. WowWee Group Ltd, U.S. District Court for the Northern District of California, No. 3:22-cv-04476.For Roblox: Andrew Gass and Sarah Ray of Latham & WatkinsFor WowWee: not availableRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Blake BrittainThomson ReutersBlake Brittain reports on intellectual property law, including patents, trademarks, copyrights and trade secrets. Reach him at blake.brittain@thomsonreuters.com",Roblox sues tech toymaker WowWee over avatar figurines.
"Moderna, PayPal lead Nasdaq higher A broad rally on Wall Street is being led by the Nasdaq Composite, which has jumped 2.6% today.The top mover among major Nasdaq stocks is Moderna, which surged 16% on the back of a blowout earnings report. That move appears to be boosting other biotech stocks, with Gilead and Regeneron rising 6.1% and 5.8%, respectively.Elsewhere, PayPal has gained more than 8% after the payments company reported strong earnings and a new information-sharing agreement with activist firm Elliott Management.— Jesse PoundS&P 500 now up 13% from June low as Wall Street's rebound gets back on trackThe July rally for Wall Street appears to have resumed, as the S&P 500 is now up more than 13% from its recent low on June 16.At its June low, the S&P 500 was down more than 23% from its record high, putting it firmly in bear market territory.Now, the index is down about 13.4% from its high watermark.The rally for stocks has also been accompanied by a rebound for bonds. The benchmark 10-year Treasury was trading near 2.77% on Wednesday, down from nearly 3.5% in mid-June.— Jesse PoundS&P 500 erases losses from earlier in the week The S&P 500 rallied up 1.61% Wednesday, hitting its highest level since June. The gains also erased all losses from the average's two-day slide earlier in the week. —Carmen ReinickeFord rises on solid July sales figuresFord's Chief Financial Officer (CFO), John Lawler and Linda Zhang, Chief Engineer for the company's All Electric F-150 Lightning participate in the opening bell ceremony at the New York Stock Exchange (NYSE) in New York City, New York, U.S., April 28, 2022. Brendan Mcdermid | ReutersShares of Ford gained more than 3% in intraday trading Wednesday after the automaker released its July sales figures. The report showed new vehicle sales increased 36.3% on the year, where industry-wide estimates anticipated a slowdown.—Carmen ReinickeOil falls on surprise U.S. supply increase, drop in gasoline demandJohn Kilduff of Again Capital called gasoline demand ""depressed,"" even though prices have been falling.Kilduff said some traders had expected OPEC plus to add more oil to the market, but OPEC leader Saudi Arabia is near capacity. ""The Saudis are actually pumping at the highest level since March, 2020. Over 11 million barrels a day,"" Kilduff said.—Patti DommStocks near session highs at middayAll three major averages were near session highs midday Wednesday, shaking off a two-day slide. The Dow Jones Industrial Average was up 336 points, or 1.04%. The S&P 500 gained 1.25% and the tech-heavy Nasdaq Composite increased 2.11%. —Carmen ReinickeStocks could retest June lows, Evercore ISI's Julian Emanuel saysEvercore ISI's Julian Emanuel doesn't think we've seen the bottom yet in the bear market, and will once again challenge June lows, even as investors remain 'complacent' after last month's rally.The strategist believes investors are overly optimistic, pointing to elevated options and meme stock trading, given slowing growth and troubling signs in bond yields that indicate more trouble ahead for equity markets.""The falling yield story has likely run its course and that too, is a headwind for stocks, but the options market is telling you that people just aren't really concerned about too much,"" Emanuel said on CNBC's ""Squawk on the Street.""""And that to us is much more typical of sort of late cycle August coming into September, which tends to be a dangerous month, type of behavior,"" he added.— Sarah MinRobinhood stock jumps after analysts say layoffs will improve profitability Vlad Tenev, CEO and co-founder Robinhood Markets, Inc., is displayed on a screen during his company’s IPO at the Nasdaq Market site in Times Square in New York City, U.S., July 29, 2021.Brendan McDermid | ReutersShares of Robinhood surged more than 13% Wednesday, just a day after the company announced it would lay off about 23% of its workforce. It is the second time the company has said in recent months it will trim staff - it also cut 9% of its workforce in April.But those job cuts will help the company going forward, boosting profitability and shares, analysts argued in notes following the news.Read more on CNBC PRO.—Carmen ReinickeTechnicals point to June low marking the start of a new bull market, Ned Davis data showsChances of the June low being the start of a new bull market are increasing, data compiled by Ned Davis Research shows.The firm noted that several breadth indicators show that the market's performance since hitting an intraday low on June 17 is more indicative of a new bull starting — rather than another bear market rally. The S&P 500 is up more than 12% in that time frame.Check out the full story on CNBC Pro.—Fred ImbertBond yields continue big move higher on hawkish Fed, better services dataTreasury yields are continuing a rapid march higher, on hawkish comments from multiple Federal Reserve officials and after stronger-than-expected data on the services sector.The benchmark 10-year yield was at a high of 2.81%, continuing the bounce started right after it touched a low of 2.52% Tuesday morning. That yield was ended last week at 2.65%. The 2-year yield, which most closely follows Fed policy, was at 3.14%, up sharply from Friday's close of 2.89%.""I think really the story here is markets were really embracing the idea that we're going to have an imminent recession,"" said Jan Nevruzi, NatWest Markets rate strategist. ""That is just not showing up.""ISM Services, released at 10 a.m. ET, came in above estimates at 56.7 from 55.3 in June.Fed officials continued their hawkish comments Wednesday, after a parade of speakers drove rates sharply higher Tuesday. St. Louis Fed President James Bullard told CNBC Wednesday that he wants rates to get to 3.75%-4.00% this year.  That would be higher than the current Fed forecast for 3.25%-3.5%. The futures market had been pricing for a Fed pause in hiking but Fed officials have made clear their work is not done and inflation is still high. Bullard also said he does not currently see a recession. Some bond strategists said they believe yields may have set a near-term low Tuesday.—Patti DommStocks hit session highs after strong ISM reportThe major averages built on their earlier gains after the release of stronger-than-expected U.S. services data. The Dow Jones Industrial Average traded more than 200 points higher, or 0.8%. The S&P 500 gained 1%, and the Nasdaq Composite rallied 1.8%. —Fred ImbertServices data shows surprise reboundInvestors received some positive economic news on Wednesday morning. The ISM non-manufacturing purchasing managers index showed a surprise rebound in July. The reading came in at 56.7, above 55.3 in June. Economists surveyed by Dow Jones were expecting 54. June factory orders also came in better than expected, rising 2%. Economists surveyed by Dow Jones were expecting a gain of 1.2%.— Jesse PoundMeme stock mania makes a comeback?Wild trading in an obscure Hong Kong-based fintech firm is turning heads on Wall Street and sparking conversations about meme stock mania again.AMTD Digital saw its shares skyrocket 126% Tuesday alone after experiencing a series of trading halts. It's a subsidiary of investment holding firm AMTD Idea Group, went public in mid-July with its American depositary receipts trading on the NYSE. Two weeks later, the stock is up 21,400% to $1,679 apiece from its IPO price of $7.80.""As we've learned over the past two years, events like this cause what I would say is opportunities for profit but great risk for loss particularly for our retail investors,"" Jay Clayton, former SEC chairman, said on CNBC's ""Squawk Box"" Wednesday.— Yun LiStocks rise at market open Stocks were higher at Wednesday's open, rebounding after two days of losses. The S&P 500 gained 0.73%, the Nasdaq Composite rose 1.19% and the Dow Jones Industrial Average increased 221.31 points, or 0.68%. — Carmen ReinickeOPEC+ set to increase oil production by tiny amount OPEC and its allies on Wednesday agreed to raise oil production by a small amount, 100,000 barrels per day, in response to President Joe Biden's trip to Saudi Arabia last month. During the visit, Biden had aimed to persuade the group's leader to pump more oil to help the U.S. economy and global supply. The miniscule raise is seen as a rebuff. — Carmen ReinickeStarbucks shares tick up after earnings release Starbucks barista Brick Zurek, standing in front of the downtown Starbucks on Wabash Avenue, on May 11, 2022, has been organizing for union representation with Starbucks Workers United. The Wabash Avenue location was the first Starbucks in Chicago to file for union representation with the National Labor Relations Board. (Chris Sweda/Chicago Tribune/Tribune News Service via Getty Images)Chris Sweda | Tribune News Service | Getty ImagesShares of Starbucks gained nearly 2% in premarket trading after the coffee chain posted quarterly earnings Tuesday after the bell. The company beat expectations on earnings and revenue, boosted by U.S. demand for cold drinks even amid high inflation.""We had actually record customer counts and record average weekly sales,"" during the last quarter, Rachel Ruggeri, Starbucks chief financial officer, said on CNBC's ""Squawk Box.""— Carmen ReinickeModerna rises after beating earnings expectationsShares of Moderna rose nearly 4% in premarket trading after the covid-19 vaccine maker posted quarterly results that beat Wall Street's expectations for both profit and revenue. In addition, the company announced $3 billion in share buybacks, and maintained its full-year outlook.— Carmen ReinickePotential earnings revisions are a risk for second half, RBC's Calvasina says This earnings season, results have generally come in higher than Wall Street's expectations, showing that companies are faring current economic conditions better than analysts hoped, RBC head of U.S. equity strategy Lori Calvasina wrote in a Wednesday note. ""The good news for the US equity market is that evidence of resilience continues to be seen in corporate earnings,"" Calvasina said. ""The bad news for the US equity market is that the possibility of further downward earnings revisions remains a risk as we get deeper into the 2 nd half of the year.""So far, estimates for earnings and revenue in the second half of 2022 and for the full-year 2023 have come down. Still, the strength of corporate earnings this quarter may suggest that any upcoming economic downturn will be short and shallow, according to Calvasina. That's good for stocks now, but could set them up for further volatility. ""That's been supportive of stock prices over the past few weeks, but going forward it also tells us that the rally in stocks is fragile given the possibility of further downward earnings revisions as 2023 comes into view,"" she said. — Carmen ReinickeCVS gains on earnings beatShares of CVS Health rose more than 3% in premarket trading after the company reported better-than-expected quarterly earnings before the opening bell. The company also lifted its earnings outlook for the year, saying health services is helping boost sales. — Carmen ReinickePelosi leaves TaiwanHouse Speaker Nancy Pelosi left Taiwan on Wednesday after a visit that increased tensions with China and rattled financial markets a bit.Pelosi met with Taiwan President Tsai Ing-wen on Wednesday. China, which considers the disputed island part of its territory, increased military drills in the Taiwan strait amid her visit. The S&P 500 is down about 1% this week as traders worried about the ramifications of Pelosi's trip for China relations. But the market was set for a bit of a relief rally on Wednesday following her departure.—John MelloyAMD shares fall on weak revenue guidanceShares of AMD traded 5% lower in the premarket after the chipmaker issued third-quarter revenue guidance that was below analyst expectations. AMD said it expects $6.7 billion in revenue for the third quarter, below a Refinitiv forecast of $6.82 billion.The disappointing guidance overshadowed better-than-expected earnings and revenue for the second quarter. —Fred ImbertEuropean markets mixed as cautious sentiment persists; Avast up 42%European stocks were mixed on Wednesday, continuing the cautious regional trend this week.The pan-European Stoxx 600 slipped 0.2% in early trade, with autos falling 1.5% while tech stocks gained 1.2%.It's a busy day for earnings in Europe, with Commerzbank, SocGen, BMW, Banco BPM, Siemens Healthineers, Veolia and Wolters Kluwer among the companies reporting before the bell.Shares of Czech cybersecurity firm Avast soared 42% after the U.K.'s competition regulator provisionally cleared its $8.6 billion sale to U.S. peer NortonLifeLock.— Elliot SmithFocus on data, not what Fed speakers are saying, Art Hogan saysDespite the ""parade of Fed speakers,"" that's not what investors should focus on, according to Art Hogan, chief market strategist at B. Riley Financial.""I think that investors have to pay more attention to what the data is telling us than what every individual Fed speaker, whether they're a voter or not, has to say about what our expectations should be,"" Hogan told CNBC's ""Squawk Box Asia.""Still, he said Fed officials have been able to shift expectations for where Fed policy is heading.St. Louis Federal Reserve President James Bullard on Tuesday said the central bank will need to keep hiking rates, and the Fed funds rate likely will have to go to 3.75%-4% by the end of 2022. San Francisco Fed President Mary Daly said ""our work is far from done"" in fighting inflation, while Chicago Fed President Charles Evans said another large rate hike is possible, though he hopes it can be avoided.After last week's meeting, some expected the Fed would continue hiking to reach 3.25%-3.5% before pivoting in 2023, Hogan said.""I think the parade of Fed speakers this week has done a pretty good job of pulling that back, tamping down those expectations,"" he said.— Abigail NgThese stocks are poised for a comeback if inflation peaks, Jefferies saysA slowdown could be on the horizon, and more earnings downgrades ahead have been predicted. If inflation also peaks, as some analysts expect it to, that mix of factors will favor one class of stocks, Jefferies says.Jefferies produced a screen of such stocks that investors can buy, based on a list of metrics which include high profitability, reasonable valuations and good cashflows. Pro subscribers can read the story here.— Weizhen TanPayPal rises on earnings, share buyback announcementPayPal shares soared by more than 11% after hours. The payments company beat analysts' earnings and revenue estimates for the second quarter and issued upbeat full-year guidance. PayPal also announced a $15 billion share repurchasing program.Stock buybacks provide a way for companies to boost their per-share earnings and enhance the value of their stock, particularly while the market across the board suffers steep price declines this year. The company kicked off a $10 billion program four years ago.Elliott Management said it has a $2 billion stake in the payments giant. PayPal announced that it entered an information-sharing agreement on value creation with the activist investor.— Tanaya MacheelDespite Fedspeak about fighting inflation, an ‘easing cycle’ is emerging says Leuthold’s Jim PaulsenLeuthold Group chief investment strategist Jim Paulsen said that despite the Federal Reserve's ""ongoing lip service toward fighting inflation"" by tightening monetary policy, there are several factors that suggest the market may be entering an ""emerging easing cycle.""Bond yields have achieved a sizable rate cut, the dollar is finally rolling over and junk spreads have pulled back, he said in a note to investors late Tuesday. ""The media, policy officials, and investors focus primarily on the war against inflation and how aggressively the Fed will need to keep hiking rates,"" Paulsen said. ""Yet, with real economic growth already reduced to a crawl and evidence building that inflation is easing, the case for further Fed tightening at its September meeting is rapidly falling apart.""""Investors should place appropriate weight on the leading nature of economic policies,"" he added. ""Tightening today means lower real and nominal growth tomorrow.""— Tanaya MacheelMatchGroup shares tumble after hoursShares of the dating app operator Match Group tumbled as much as 23% after the company reported revenue of $795 million for the second quarter, compared with FactSet estimates of $803.9 million. Match also issued weak guidance around adjusted operating income and revenue for the current quarter.— Tanaya Macheel","Dow rallies 400 points as investors cheer strong U.S. economic data, earnings."
"(Click here to subscribe to the Delivering Alpha newsletter.)The market has seen tremendous price swings this year - whether it comes to equities, fixed income, currencies, or commodities — but volatility expert Paul Britton doesn't think it ends there. Britton is the founder and CEO of the $9.5 billion derivatives firm, Capstone Investment Advisors. He sat down with CNBC's Leslie Picker to explain why he thinks investors should expect an uptick in the amount of concerning headlines, contagion worries, and volatility in the second half of the year. (The below has been edited for length and clarity. See above for full video.)Leslie Picker: Let's start out — if you could just give us a read on how all of this market volatility is factoring into the real economy. Because it seems like there is somewhat of a difference right now.Paul Britton: I think you're absolutely right. I think the first half of this year has really been a story of the market trying to reprice growth and understand what it means to have a 3.25, 3.5 handle on the Fed funds rate. So really, it's been a math exercise of the market determining what it's willing to pay for and a future cash flow position once you input a 3.5 handle when to stock valuations. So, it's been kind of a story, what we say is of two halves. The first half has been the market determining the multiples. And it hasn't really been an enormous amount of panic or fear within the market, obviously, outside of the events that we see in Ukraine. Picker: There really hasn't been this kind of cataclysmic fallout this year, so far. Do you expect to see one as the Fed continues to raise interest rates?Britton: If we'd had this interview at the beginning of the year, remember, when we last spoke? If you'd said to me, ""Well, Paul, where would you predict the volatility markets to be based upon the broader base markets being down 15%, 17%, as much as 20%-25%?' I would have given you a much higher level as to where they currently stand right now. So, I think that's an interesting dynamic that's occurred. And there's a whole variety of reasons which are way too boring to go into great detail. But ultimately, it's really been an exercise for the market to determine and get the equilibrium as to what it's willing to pay, based around this extraordinary move and interest rates. And now what the market is willing to pay from a future cash flow standpoint. I think the second half of the year is a lot more interesting. I think the second half of the year is ultimately - comes to roost around balance sheets trying to determine and factor in a real, extraordinary move in interest rates. And what does that do to balance sheets? So, Capstone, we believe that that means that CFOs and ultimately, corporate balance sheets are going to determine how they're going to fare based around a certainly a new level of interest rates that we haven't seen for the last 10 years. And most importantly, we haven't seen the speed of these rising interest rates for the last 40 years. So, I struggle — and I've been doing this for so long now — I struggle to believe that that's not going to catch out certain operators that haven't turned out their balance sheet, that haven't turned out the debt. And so, whether that's in a levered loan space, whether that's in high yield, I don't think it's going to impact the large, multi-cap, IG credit companies. I think that you'll see some surprises, and that's what we're getting ready for. That's what we're preparing for because I think that's phase two. Phase two could see a credit cycle, where you get these idiosyncratic moves and these idiosyncratic events, that for the likes of CNBC and the viewers of CNBC, perhaps will be surprised by some of these surprises, and that could cause a change of behavior, at least from the volatility market standpoint.Picker: And that's what I was referring to when I said we haven't really seen a cataclysmic event. We've seen volatility for sure, but we haven't seen massive amounts of stress in the banking system. We haven't seen waves of bankruptcies, we haven't seen a full blown recession — some debate the definition of a recession. Are those things coming? Or is just this time fundamentally different?Britton: Ultimately, I don't think that we're going to see — when the dust settles, and when we meet, and you are talking in two years' time - I don't think that we'll see a remarkable uptick in the amount of bankruptcies and defaults etc. What I think that you will see, in every cycle, that you will see headlines hit on CNBC, etc, that will cause the investor to question whether there's contagion within the system. Meaning that if one company's releases something which, really spooks investors, whether that's the inability to be able to raise finance, raise debt, or whether it's the ability that they're having some issues with cash, then investors like me, and you are going to then say, ""Well hang on a second. If they're having problems, then does that mean that other people within that sector, that space, that industry is having similar problems? And should I readjust my position, my portfolio to make sure that there isn't a contagion?"" So, ultimately, I don't think you're going to see a huge uptick in the amount of defaults, when the dust has settled. What I do think is that you're going to see a period of time where you start to see numerous amounts of headlines, just simply because it's an extraordinary move in interest rates. And I struggle to see how that's not going to impact every person, every CFO, every U.S. corporate. And I don't buy this notion that every U.S. corporate and every global corporate has got their balance sheet in such perfect condition that they can sustain an interest rate hike that we've [been] experiencing right now.Picker: What does the Fed have in terms of a recourse here? If the scenario you outlined does play out, does the Fed have tools in its tool kit right now to be able to get the economy back on track?Britton: I think it's an incredibly difficult job that they're faced with right now. They've made it very clear that they're willing to sacrifice growth at the expense to ensure that they want to extinguish the flames of inflation. So, it's a very large aircraft that they're managing and from our standpoint, it is a very narrow and very short runway strip. So, to be able to do that successfully, that is definitely a possibility. We just think that it's [an] unlikely possibility that they nail the landing perfectly, where they can dampen inflation, make sure that they get the supply chain criteria and dynamics back on track without ultimately creating too much demand destruction. What I find more interesting - at least that we debate internally at Capstone - is what does this mean from a future standpoint of what the Fed is going to be doing from a medium-term and a long-term standpoint? From our standpoint, the market has now changed its behavior and that from our standpoint makes a structural change…I don't think that their intervention is going to be as aggressive as it once was these past 10, 12 years post-GFC. And most importantly for us is that we look at it and say, ""What is the actual size of their response?"" So, many investors, many institutional investors, talk about the Fed put, and they've had a great deal of comfort over the years, that if the market is faced with a catalyst that needs calming, needs stability injected into the market. I will make a strong case that I don't think that that put was - what's described as obviously the Fed put — I think it's a lot further out of the money and more importantly, I think the size of that intervention — so, in essence, the size of the Fed put — is going to be significantly smaller than what it has been historically, just simply because I don't think any central banker wants to be back in this situation with arguably runaway inflation. So, that means, I believe that this boom bust cycle that we've been in these past 12-13 years, I think that ultimately that behavior has changed, and the central banks are going to be much more in a position to let markets determine their equilibrium and markets ultimately be more freer.Picker: And so, given this whole backdrop — and I appreciate you laying out a possible scenario that we could see — how should investors be positioning their portfolio? Because there's a lot of factors at play, a lot of uncertainty as well.Britton: It's a question that we ask ourselves at Capstone. We run a large complex portfolio of many different strategies and when we look at the analysis and we determine what we think some possible outcomes are, we all draw the same conclusion that if the Fed isn't going to intervene as quickly as once they used to. And if the intervention and size of those programs are going to be smaller than what they were historically, then you can draw a couple of conclusions, which ultimately tells you that, if we do get an event and we do get a catalyst, then the level of volatility that you're going to be exposed to is just simply going to be higher, because that put, an intervention is going to be further away. So, that means that you're going to have to sustain volatility for longer. And ultimately, we worry that when you do get the intervention, it will be smaller than what the market was hoping for, and so that will cause a greater degree of volatility as well. So, what can investors do about it? Obviously, I'm biased. I'm an options trader, I'm a derivatives trader, and I'm a volatility expert. So [from] my standpoint I look at ways to try and build in downside protection - options, strategies, volatility strategies - within my portfolio. And ultimately, if you don't have access to those types of strategies, then it's thinking about running your scenarios to determine, ""If we do get a sell off, and we do get a higher level of volatility than perhaps what we've experienced before, how can I position my portfolio?"" Whether that is with using strategies such as minimum volatility, or more defensive stocks within your portfolio, I think they're all good options. But the most important thing is to do the work to be able to ensure that when you're running your portfolio through different types of cycles and scenarios, that you're comfortable with the end result.","Paul Britton, CEO of $9.5 billion derivatives firm, says the market hasn't seen the worst of it."
"Ukraine's President Volodymyr Zelenskiy attends a joint news briefing with Dutch Prime Minister Mark Rutte (not seen), as Russia's attack on Ukraine continues, in Kyiv, Ukraine July 11, 2022. REUTERS/Valentyn Ogirenko/File PhotoRegister now for FREE unlimited access to Reuters.comBELGRADE/PRISTINA, Aug 3 (Reuters) - Ukraine isto start the pullout of its peacekeepers from the NATO-led mission in Kosovo, the RBK-Ukraine news portal reported on Wednesday, citing sources from Ukraine's military command.Ukraine currently maintains a contingent of 40 peacekeepers in Kosovo as part of the 3,800-strong NATO-led KFOR mission, but in March President Volodymyr Zelenskiy issued a decree ordering all missions to return home to help in the war with Russia.""The return of the (Ukrainian) national contingent will mean the temporary termination of its participation in the KFOR mission,"" RBK-Ukraine quoted Ukraine's army command as saying.Register now for FREE unlimited access to Reuters.comIt also said that the withdrawal of Ukrainian troops from Kosovo was in line with Zelenskiy's March 7 decree ordering missions to come home following Russia's invasion on Feb 24.A NATO official confirmed the reports saying that the withdrawal would not affect its peacekeeping mission.“Ukraine has been a valuable contributor to our peacekeeping mission. ... We welcome the country’s long-standing contributions to our daily efforts in support to all communities living in Kosovo,” the official said.The NATO peacekeeping mission deployed to Kosovo in 1999 after the alliance's 78-day bombing campaign forced Serbian troops to end their crackdown against Albanians in the now-independent Kosovo, formerly a southern province of Serbia.Kosovo declared independence from Serbia in 2008, and is recognised by over 100 countries, but not by others, including Ukraine, five European Union member countries, Russia and China.The government in Belgrade, which remains opposed to Kosovo's independence, recognises Ukraine in its entirety and has three times condemned the Russian invasion in the UN.But Serbia, which is almost completely dependant on Russian gas, also refuses to join sanctions against Moscow.Register now for FREE unlimited access to Reuters.comReporting by Aleksandar Vasovic and Fatos Bytyci in Pristina; Editing by Toby Chopra and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.",Ukraine to start pullout of peacekeepers from Kosovo - report.
"Celsius Network, once a titan of the crypto lending world, is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users. Some of the 1.7 million customers ensnared by the alleged fraud are now directly pleading with the Southern District of New York to help them get their money back.Christian Ostheimer, a 37-year-old living in Connecticut, wrote in a letter included in court exhibits that he trusted Celsius with his retirement savings and has lost more than $30,000, which has brought him into ""unsurmountable tax complications.""""It is in your hands, honorable judge to make this a different case were not the lawyers, the attorneys, the big corporations and managers get paid out first but the little man, the mom and pop, the college grad, the granny and grandpa — all those many small unsecured creditors — so that they are not like usual at the end of the chain where they lose everything,"" wrote Ostheimer.The question of who gets repaid first — should that day ever come — looms heavy over the bankruptcy proceedings.At its peak in October 2021, CEO Alex Mashinsky said the crypto lender had $25 billion in assets under management. Now, Celsius is down to $167 million ""in cash on hand,"" which it says will provide ""ample liquidity"" to support operations during the restructuring process. Celsius owes its users around $4.7 billion, according to its bankruptcy filing.That filing also shows that Celsius has more than 100,000 creditors, some of whom lent the platform cash without any collateral to back up the arrangement. The list of its top 50 unsecured creditors includes Sam Bankman-Fried's trading firm Alameda Research, as well as an investment firm based in the Cayman Islands. Those creditors are likely first in line to get their money back, leaving smaller retail investors holding the bag.Unlike the traditional banking system, which typically insures customer deposits, there aren't formal consumer protections in place to safeguard user funds when things go wrong. Celsius spells out in its terms and conditions that any digital asset transferred to the platform constitutes a loan from the user to Celsius. Because there was no collateral put up by Celsius, customer funds were essentially just unsecured loans to the platform.Also in the fine print of Celsius' terms and conditions is a warning that in the event of bankruptcy, ""any Eligible Digital Assets used in the Earn Service or as collateral under the Borrow Service may not be recoverable"" and that customers ""may not have any legal remedies or rights in connection with Celsius' obligations."" The disclosure reads like an attempt at blanket immunity from legal wrongdoing, should things ever go south.On July 19, Celsius published a document detailing next steps for customers. In it, the platform said its Chapter 11 bankruptcy plan will ""provide customers with the option, at the customers' election, to recover either cash at a discount or remain 'long' crypto,"" but it is unclear whether customers will ever see their money again.The entire process lays bare just how much of crypto regulation in the U.S. happens by enforcement.The Securities and Exchange Commission has effectively become one of the industry's top regulators in the country, including by weeding out Ponzi and pyramid schemes, and it appears that some precedent will be set in U.S. bankruptcy courts in coming months as lawmakers deliberate over formal legislation on Capitol Hill.Pleas from investorsIn the hundreds of letters officially submitted to the court, retail investors beg to be put at the front of the line to get their money back.Flori Ohm, a single mother of two college-bound daughters, said her family has been ""severely impacted both in financial and mental health"" by the bankruptcy, which has left her funds stranded on the platform. Ohm, who also supports her parents, said she can't sleep or focus on work.""I am struggling hard [to make a] living,"" she wrote.Jeanne Y Savelle, who described herself as a ""little retired old lady"" living on a fixed income, said she turned to Celsius in search of a way to supplement her monthly Social Security check to stretch her dollar amid record levels of inflation.""I purchased my small amount of crypto hoping just to earn enough to help me weather a few years, kind of a safety net,"" said Savelle. ""Yes, I know, buyer beware but I agree that there has been way too much deception.""Others have lost everything.California resident Stephen Bralver said he has less than $1,000 left in his Wells Fargo checking account — now his only source of funds to provide for his family since Celsius suspended all withdrawals.""There is absolutely no way that I can continue to provide without access to my assets at Celsius,"" he wrote to Judge Martin Glenn, who is overseeing the Celsius bankruptcy proceedings in New York.""This is an EMERGENCY situation, simply to keep a roof over my family and food on their table,"" Bralver wrote.Sean Moran of Dublin wrote that he lost the family farm in Ireland and his family is homeless.""Can't believe that they lied to us on the weekly AMA [ask-me-anything events] about not trusting banks whilst all along they we're wolfs in sheep clothing false promises and misleading information,"" Moran wrote. ""I'm mentally unstable. Family are distraught with my decisions of trusting Celsius and promising them a better future.""Beyond the financial devastation described in each of these letters, one recurring theme centers around a sense of betrayal over the breach of trust between Celsius CEO Alex Mashinsky and his customers.Three weeks after Celsius halted all withdrawals due to ""extreme market conditions"" — and a few days before the crypto lender ultimately filed for bankruptcy protection — the platform was still advertising in big bold text on its website annual returns of nearly 19%, which paid out weekly.""Transfer your crypto to Celsius and you could be earning up to 18.63% APY in minutes,"" the website read July 3.Ralphael DiCicco, who disclosed holdings of roughly $15,557 in crypto assets on Celsius, said he was fooled by the marketing.""I believed in all the commercials, social media and advertising that showed Celsius was a high yield, low risk savings account. We were ensured that our funds are safer at Celsius than in a bank,"" wrote DiCicco.""This money is pretty much my life savings ... I hope you can find it the best interest of all parties involved to pay back the smaller investors first ... before any restructuring occurs,"" DiCicco continued.Travis Rodgers of Phoenix said that he was told on numerous phone calls to Celsius Network, as recently as two days before it locked depositors' accounts, that there was no danger to client assets and zero probability of bankruptcy. Rodgers said he recorded several of those calls. He said his Celsius holdings total $40,000 across 11 cryptocurrencies.The weekly ask-me-anything events hosted by Mashinsky on YouTube were mentioned in multiple letters, including one sent in by Stephen Richardson, who itemized the many ways in which he feels Mashinsky deceived the public in order to lure new customers into the scheme.Richardson said he watched every single Friday AMA since signing up.""Alex would talk about how Celsius is safer than banks because they supposedly don't rehypothecate and use fractional reserve lending like the banks do,"" wrote Richardson. ""I currently have six figures worth of crypto locked in my Celsius account unable to be withdrawn, despite Alex's claims mere hours before withdrawals were closed that nobody has any issue withdrawing from Celsius and that everything you hear to the contrary is simply 'fud' [fear, uncertainty and doubt].""Some said they have even contemplated suicide if they can't retrieve their funds.Katie Davis of Australia pleaded with the judge for the return of the $138,000 she and her husband have stranded on the Celsius platform.""The thought of losing that amount of money is horrifying,"" Davis wrote.""If I do not get that back, I will end my life as the loss will impact my family and I significantly,"" she wrote.Mashinsky did not immediately respond to CNBC's request for comment.If you or someone you know is in crisis, call the National Suicide Prevention Lifeline at 800-273-8255.","Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help."
"U.S. House of Representatives Speaker Nancy Pelosi gestures next to Legislative Yuan Vice President Tsai Chi-chang as she leaves the parliament in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comSummaryPelosi trip should not be excuse for escalation - officialNo plan for Blinken to meet Russia, China counterpartsU.S. hopes for sustained and increased pressure on Myanmar27 countries to meet this week at ASEAN forumTOKYO, Aug 3 (Reuters) - The prospect of U.S. house speaker Nancy Pelosi visiting Taiwan was raised with the Chinese government's top diplomat recently and there are no plans for the U.S. and Chinese foreign ministers to meet this week in Cambodia, a senior U.S. official said on Wednesday.U.S. Secretary of State Antony Blinken discussed the potential for Pelosi's visit with counterpart Wang Yi during a G20 meeting in Bali that lasted more than five hours, and said any such trip would be entirely Pelosi's decision and independent of the Biden administration.""The question is whether Beijing will try to use the trip as some kind of excuse to take steps that could be escalatory or that could somehow produce conflict,"" the senior State Department official told reporters in Tokyo, adding that Beijing should not overreact to a trip that was neither unusual nor unprecedented.Register now for FREE unlimited access to Reuters.com""China should not use this as a pretext to continue what it's been doing, which is seeking to change the status quo with regard to Taiwan,"" the official said.""And if any escalation or crisis were to somehow follow her visit, it would be on Beijing.""The Chinese foreign ministry did not immediately respond to a Reuters request for comment.China vented its fury on Wednesday over what was the highest-level U.S. visit to Taiwan in a quarter of a century, stepping up military activity in surrounding waters and suspending imports of some products from Taiwan. read more China considers Taiwan part of its territory and has never renounced using force to bring it under its control.Blinken was en route to Cambodia for a series of meetings that will culminate in Friday's ASEAN Regional Forum, a security-focused gathering of 27 countries including China, Japan, Russia, Britain and Australia.The official said he would not meet Wang Yi and also that there would be no direct meeting in Phnom Penh with Russian Foreign Minister Sergei Lavrov. Russian-U.S. relations have been severely strained by Russia's invasion of Ukraine.""If we actually saw any kind of meaningful diplomatic opening to help end the aggression, we would, of course, engage, but we've not seen that,"" the official said.The 10-member Association of Southeast Asian Nations (ASEAN), which is hosting this week's gathering, on Wednesday expressed concern about the Taiwan situation adding, ""we hope that all sides will try their best to de-escalate tensions"".ASEAN members also sharply criticised Myanmar's ruling junta on Wednesday for failure to advance a peace plan agreed last year. The generals are barred from ASEAN meetings. read more The official said United States hoped it can discuss in Cambodia how to ""both sustain and increase pressure"" on the military in Myanmar to stop its crackdown on opponents.Register now for FREE unlimited access to Reuters.comReporting by David Brunnstrom; Writing by Martin Petty; Editing by Kanupriya Kapoor and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.","China minister told of possible Pelosi Taiwan trip in July, U.S. official says."
"TAIPEI, TAIWAN - AUGUST 03: Speaker of the U.S. House Of Representatives Nancy Pelosi (D-CA), speaks after receiving the Order of Propitious Clouds with Special Grand Cordon, Taiwan’s highest civilian honor, from Taiwan's President Tsai Ing-wen, at the president's office on August 03, 2022 in Taipei, Taiwan.Handout | Getty ImagesTAIPEI, Taiwan — House Speaker Nancy Pelosi departed Taiwan on Wednesday after a whirlwind visit that drew fury from Beijing and raised fears of a potential military crisis between the United States and China. Before boarding a plane to leave the island, she vowed solidarity with the self-ruling democracy that Beijing claims as its territory, while China launched military drills, summoned the U.S. ambassador and halted some imports from Taiwan in a display of angry protests against her visit.""Our delegation came here to send an unequivocal message: America stands with Taiwan,"" Pelosi said at a news conference in Taipei after meeting with Taiwanese President Tsai Ing-wen. The U.S. Air Force plane carrying her and five other Democratic lawmakers took off from Taipei Songshan Airport just after 6 a.m. ET.Beijing had warned against the Pelosi visit for weeks, issuing threats that raised fears of a new crisis in the region between the world's two biggest economies. As soon as she touched down Tuesday, Chinese officials unleashed a barrage of furious statements and announced plans for military exercises starting immediately.On Wednesday, a Chinese Foreign Ministry spokesperson criticized Pelosi's visit as a ""political farce.""""It is Pelosi who is grandstanding, but it is bilateral relations and regional peace and stability that will suffer,"" Hua Chunying said.Some of the additional military drills planned for later this week will take place within Taiwan's sea and air territory, a move the island democracy denounced as a serious violation that amounted to land and naval blockades.Both Pelosi and Tsai said they were committed to maintaining the status quo, under which the United States recognizes Beijing as the sole legitimate government of China but maintains unofficial relations with Taiwan.""We want Taiwan to always have freedom with security, and we're not backing away from that,"" Pelosi said.Tsai thanked the U.S. delegation for visiting ""under such challenging circumstances,"" calling the Chinese military exercises ""unnecessary."" China views Pelosi's visit as highly provocative because of her status as a high-ranking official. While U.S. lawmakers and other current and former government officials regularly visit Taiwan, Pelosi is the first House speaker to visit the island since Newt Gingrich in 1997.U.S. House of Representatives Speaker Nancy Pelosi waves with other members of the delegation as they board a plane before leaving Taipei Songshan Airport, in Taipei, Taiwan August 3, 2022, in this screengrab taken from video. Pool | Via ReutersPelosi said that while China has blocked Taiwan from participating in international organizations and meetings, ""they will not stand in the way of people coming to Taiwan.""Cheers erupted outside Taipei Songshan International Airport as Pelosi's military plane arrived on Tuesday. Lights on Taipei 101, Taiwan's tallest building, displayed messages of welcome and gratitude for the speaker's visit.More supporters met Pelosi outside her hotel, along with pro-Beijing protesters holding banners demanding that she leave.""The good thing is that I think this will let the world know more about the existence of Taiwan as a democratic country,"" Xu Hao-jun, a 45-year-old software designer in Taipei, told NBC News on Wednesday. ""The bad point? I think China will not be friendly, but that doesn't mean just because Pelosi doesn't come to Taiwan they will be less so.""Pelosi began the day Wednesday by addressing Taiwan's parliament, praising the island as ""one of the freest societies in the world.""At a ceremony later, Tsai presented Pelosi with a civilian order of the highest rank, calling her ""one of Taiwan's most devoted friends.""In the afternoon, Pelosi — a longtime critic of China's ruling Communist Party and its human rights record — met with three Chinese dissidents in private, local media reported. The delegation then boarded a plane for South Korea, the fourth stop on a larger tour of Asia that also includes Singapore, Malaysia and Japan.Beijing considers Taiwan part of its territory and views ""reunification"" as inevitable, by force if necessary. The Taiwanese government rejects Beijing's sovereignty claim and says the island's future should be decided by its 23 million people.In a statement Wednesday, Chinese Foreign Minister Wang Yi accused the United States of provoking the controversy and encouraging advocates of Taiwan independence.""Attempts to use the Taiwan question to contain China are doomed to failure,"" he said.The White House says Pelosi's visit is consistent with long-standing U.S. policy on Taiwan, which it says has not changed, and that there is no reason for it to stir conflict.The United States ""will not seek and does not want a crisis. We are prepared to manage what Beijing chooses to do,"" National Security Council spokesman John Kirby told reporters Tuesday.The reaction from China was swift.The Chinese Foreign Ministry summoned Nicholas Burns, the U.S. ambassador to China, late Tuesday to lodge a protest, state media reported.Around the same time, the Chinese Ministry of National Defense said the People's Liberation Army had begun ""targeted military operations"" around Taiwan, including joint air and sea exercises and conventional missile tests. The Taiwanese Defense Ministry said a total of 21 Chinese military aircraft entered its self-declared air defense identification zone, which is outside its official airspace, on Tuesday. Such military sorties take place almost daily but usually in smaller numbers.On the economic front, Chinese customs officials said they would suspend imports of several Taiwanese food products, while the Ministry of Commerce halted the export of natural sand to the island, which uses it to make computer chips.Taiwanese government websites also experienced minor cyberattacks as Pelosi arrived Tuesday, the source of which was unclear.The PLA said additional military exercises and training activities, including live-fire drills, would be held from Thursday to Sunday. State media released a map indicating six areas off Taiwan's coast, including one less than 15 miles from the southern port city of Kaohsiung, and warned foreign ships and aircraft to stay away.In a statement Wednesday, the Taiwanese Foreign Ministry said this would seriously impact international trade and law. It said Taiwan was in close communication and coordination with the U.S. and other like-minded countries in the region to ""jointly defend the rules-based international order"" and ""avoid regional escalation."" Rhoda Kwan reported from Taipei, and Jennifer Jett reported from Hong Kong.",Pelosi departs Taiwan as furious China holds military drills.
"Macklemore plays a shot at the AT&T Pebble Beach Pro-Am at Pebble Beach Golf Links on February 02, 2022 in Pebble Beach, California.Orlando Ramirez | Getty Images Sport | Getty ImagesThe popularity of golf has surged in recent years and during the pandemic, with new golfers and the further spread of non-traditional ways to play like TopGolf helping to start to shed the sport's stodgy reputation.Grammy award-winning rapper Macklemore, best known for his hit song ""Thrift Shop,"" recently fell in love with golf, but found that the clothes marketed to players didn't appeal to him.""On vacation, I got dragged out onto the golf course and didn't want to go – I definitely hit a couple of houses,"" Macklemore told CNBC's Dominic Chu at the CNBC Small Business Playbook virtual summit on Wednesday. ""Finally, I pure a five iron out of a fairway bunker, and I was enthralled. Like, what was that feeling? I need that again.""Macklemore, whose real name is Ben Haggerty, said that shortly thereafter he went to a sporting goods store, but realized that ""the pickings in terms of golf fashion were very slim, and that's being generous.""""Golf clothes have one archetype of a male, white dude in mind,"" he said. ""Golf is much bigger than that.""Golf struggled to shed that perception, even during Tiger Woods' ascendance to becoming one of the greatest players in the history of the sport.But there is hope that an influx of new players will help shift that archetype. An estimated 3.2 million people played on a golf course for the first time in 2021, up 33% from 2019 and well exceeding the number of people who flocked to the game following Woods' early successes in 1999 and 2000, according to The National Golf Foundation. More rounds were played last year than ever before in history, according to NGF.While some of that momentum has slowed — rounds played in 2022 are down roughly 6% compared to last year — that influx of new, younger players has helped to energize the game, Macklemore said.""There's a whole generation of young people that got into golf in the last one to three years that don't want to look like they sell real estate, and I think that's great,"" he said.A fan of 1970s- and 1980s-era golf fashion even before becoming a golfer, the desire to fill the clothing need for golfers such as himself led Macklemore to start the Bogey Boys apparel brand.The brand, which features items like Cheetah print knit vests, pinstriped sweaters, and colorful polos, is designed to appeal to both golfers and high-fashion lovers alike, Macklemore said, something that many of the typical brands in the golf-wear space do not consider.""I think for so many other brands, it's contingent upon people playing golf, or else you're not going to wear these clothes,"" he said. ""Something I think that has happened with the pandemic and golf skyrocketing is that you're seeing a shred of golf fashion in the streetwear space – you can go to [fashion website] Hypebeast and see articles on golf, that's something very new.""Macklemore is not the first golf-enthusiast entertainer to try to shake up the sport's look. In 2011, Justin Timberlake was named the creative director of Callaway Golf, working on the club and apparel maker's ""visual representation."" Bill Murray, famous for his role in ""Caddyshack,"" started William Murray Golf in 2016. NBA star Steph Curry started creating golf apparel with Under Armour in 2019, leading to the launch of his golf line under his Curry Brand offshoot.That uptick in new players as well as new products has been a boon for golf apparel, typically led by companies like Adidas, Nike, Callaway, and Acushnet-owned Footjoy. More than $150 million of golf apparel was sold in April, with 21 of the last 22 months seeing sales increases month-over-month, according to golf product industry tracker Golf Datatech.But even if the growth of golf tapers off, Macklemore said the focus on fashion unlike other golf-focused apparel will still benefit Bogey Boys.""Any sport waxes and wanes, that's ok,"" he said. ""The clothes are still going to be top-notch, the quality is going to be great, and people are going to feel great and look great in the garments.""",Why Grammy award-winning rapper Macklemore is making clothes for the golf course.
"Former U.S. President Donald Trump departs following remarks at the America First Policy Institute America First Agenda Summit in Washington, July 26, 2022.Sarah Silbiger | ReutersElection results in a slate of key primary races Tuesday night underscored former President Donald Trump's enduring influence over the Republican Party, despite signals that his status as its de facto leader may be eroding.In Arizona, multiple candidates up and down the ballot who modeled themselves as true Trump loyalists — who embraced his election conspiracy theories and Make America Great Again agenda — either won or appeared to be nearing victory in races that were still too close to call by Wednesday morning.And in Michigan, a House Republican incumbent who earned Trump's scorn by voting for his impeachment after the Jan. 6 Capitol riot lost his primary to a Trump-endorsed challenger.Trump took a victory lap on social media early Wednesday, suggesting the results demonstrated the power of his endorsement as a deciding factor in each race where he had weighed in. In fact, some of those candidates were already frontrunners by the time they received Trump's endorsement -- and in one GOP primary in Missouri, Trump hedged his bet by endorsing ""Eric"" in a race where multiple contenders shared that first name.In Washington, meanwhile, results were too early to call Wednesday morning in races involving two other House Republicans who voted to impeach Trump for inciting the Jan. 6 insurrection.The election outcomes, nevertheless, highlight how currying Trump's favor and emulating his brand of hard-right populism — including by parroting his doubts about the integrity of elections — has become a widespread tactic among candidates looking to secure primary wins by appealing to Trump's base.The Arizona results in particular yielded numerous victories for backers of Trump's false claim that his 2020 election loss to President Joe Biden was ""rigged"" by widespread fraud.Among those primary winners is Republican secretary of state nominee Mark Finchem, who denies Biden's victory and attended Trump's Jan. 6, 2021, rally that shortly preceded the Capitol riot. If he wins the general, Finchem will become the top elections official in the state.Five other Republican candidates labeled election deniers have won state primaries secretary of state, according to nonpartisan election watchdog States United Action.Also in Arizona, Trump-backed Senate candidate Blake Masters won the Republican primary, advancing him to the general election against incumbent Democratic Sen. Mark Kelly.And Rusty Bowers, the Republican speaker of the Arizona House of Representatives who testified in a public hearing on the Jan. 6 Capitol riot about how Trump and his allies pressured him to challenge 2020 election results, lost his primary bid for a state Senate seat.Trump had endorsed Bowers' Republican opponent, former state Sen. David Farnsworth, for the seat. Trump in that endorsement called Bowers a ""weak and pathetic [Republican In Name Only] who has blocked Election Integrity.""Meanwhile, the winner of Arizona's Republican gubernatorial primary was too close to call on Wednesday morning, according to NBC News' tally of the race. But Kari Lake, the Trump-endorsed former local news anchor who has repeatedly claimed the 2020 race was stolen, appeared to be leading her nearest GOP challenger Karrin Taylor Robson, who is backed by former Vice President Mike Pence.Trump has also pushed for the ouster of the 10 House Republicans who voted to impeach him after the riot, and much of the Republican Party has followed suit. Four of those pro-impeachment Republicans — Reps. Adam Kinzinger of Illinois, Anthony Gonzalez of Ohio, John Katko of New York and Fred Upton of Michigan — will retire at the end of their current terms.Another, Rep. Tom Rice, R-S.C., lost his primary race in June. David Valadao, R-Calif., survived his primary challenge.But Rep. Peter Meijer, R-Mich., lost his primary election Tuesday, after weathering attacks from both Trump and Democrats, who reportedly boosted his far-right opponent, John Gibbs.The Democratic Congressional Campaign Committee cut an ad touting Gibbs' ties to Trump, a move that drew accusations from Meijer's campaign and others that Democrats were meddling in the race to boost a potentially weaker general-election candidate.""I'm disgusted that hard-earned money intended to support Democrats is being used to boost Trump-endorsed candidates,"" said U.S. Rep. Dean Phillips, D-Minn.Democrats in Arizona reportedly attempted a similar move in the state's Republican gubernatorial primary, a tactic that was seen as an effort to undermine Robson and help the far-right Lake.""This was a hard-fought primary campaign, and I want to thank everyone in West Michigan for their support,"" Meijer said in a concession statement sent early Wednesday morning.",Trump still holds sway in GOP as MAGA candidates win in key primary races.
"San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann Saphir/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - It would be 'reasonable' for the Federal Reserve to raise interest rates by 50 basis points next month if the economy evolves as expected, San Francisco Fed President Mary Daly said on Wednesday, as she cautioned once again that policymakers are resolute in reducing decades-high inflation.""I start from the idea that 50 would be a reasonable thing to do in September because I believe I'm seeing evidence in my contact conversations, and in the observations of the world I see, that there are some bright spots for me,"" Daly said in an interview with Reuters.That said, ""if we just see inflation roaring ahead undauntedly, the labor market showing no signs of slowing, then we'll be in a different position where a 75-basis-point increase might be more appropriate. But I go in with the 50 in mind as I look at the data coming in,"" Daly added.Register now for FREE unlimited access to Reuters.comMarkets have responded to the Fed's monetary policy tightening, but other evidence of the U.S. central bank's actions affecting the economy are yet to be seen, the San Francisco Fed chief noted.""We have a lot in the pipeline of tightening, but we have yet to see the slowdown fully reveal itself,"" she said.After Daly's remarks investors in futures contracts tied to the Fed's benchmark overnight interest rate pared back the probability that the U.S. central bank would raise its policy rate by 75 basis points at its Sept. 20-21 meeting.Fed Chair Jerome Powell said last week the central bank may consider another ""unusually large"" rate hike at next month's meeting, with officials guided in their decision making by more than a dozen critical data points covering inflation, employment, consumer spending and economic growth between now and then.Several policymakers, including Daly, have shown stiffening resolve this week to continue the aggressive policy tightening, with nearly all of them uniformly flagging that the central bank remains determined to press ahead with rate hikes until it sees strong and long-lasting evidence that inflation is on track back down to the Fed's 2% goal.Inflation has for months confounded expectations that it would ease and is now, by the Fed's preferred measure, running at more than three times the 2% target.Daly also said raising the Fed's policy rate to 3.4% by the end of this year ""is a reasonable place to think about us getting to,"" adding that she does not believe the central bank has yet reached the threshold for that rate to be considered restrictive. Daly said she sees it being restrictive at around the 3% level.The median estimate among Fed policymakers of the so-called neutral rate, the level that neither stimulates nor curbs economic growth, is 2.5%.The central bank raised its benchmark overnight lending rate by another three-quarters of a percentage point last week to a target range between 2.25% and 2.50%. It has hiked that rate by 225 basis points since March as officials have been increasingly aggressive to try and quash the high inflation even as recession fears grow.Register now for FREE unlimited access to Reuters.comReporting by Lindsay Dunsmuir and Dan Burns; Editing by Chizu Nomiyama and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.",Fed's Daly says 50-basis-point rate hike next month is 'reasonable'.
"MoneyWatch August 3, 2022 / 11:23 AM / CBS/AP What to do with your 401(k) in bear market Amid recession fears in bear market, experts say 401(k) investors should think long term 04:58 Prices for gas, food and rent are soaring. The Federal Reserve has raised interest rates to the highest level since 2018. The U.S. economy has shrunk for two straight quarters. Economists are divided over whether a recession is coming. What's clear is that economic uncertainty isn't going away anytime soon. But there are steps you can take now to be ready for whatever is ahead.Yiming Ma, an assistant professor at Columbia University, says it's not a question of if but when a recession will happen. People should prepare but not panic, she said. ""Historically the economy has always been going up and down,"" said Ma. ""It's something that just happens, it's a bit like catching a cold."" But, she notes, some people's immune systems are better able to recover than others. It's the same with finances. If you think a recession could destabilize yours, here are some things you can do to prepare. Know your expenses and make a budgetKnowing how much you spend every month is key. Ma recommends sitting down and writing how much you spend day-to-day. This will help you see what's coming in, what's going out, and which unnecessary expenses you might be able to cut.""By understanding what money you are getting and what you are spending, you may be able to make changes to help you through tough times,"" advises the Federal Deposit Insurance Corporation's Money Smart, a financial education program.Budgets often reveal expenses that can be eliminated entirely or impulsive spending that can be avoided with planning. Family budgets strained by soaring child care costs 02:02 For guidance creating a budget, free courses such as ""Creating a budget  (and sticking to it)"" by CT Dollars and Sense, a partnership of Connecticut state agencies, and Nerd Wallet's Budget Calculator can be good places to start. Save as much you canThe more nonessential expenses you can cut, the more you can save.It's not possible for everyone, but Gene Natali, co-founder of Troutwood, an app that helps people create financial plans, says it's ideal to budget to save enough to cover basic necessities for three to six months.Programs such as America Saves , a nonprofit campaign by the Consumer Federation of America, can help create a roadmap. How to manage your investments, retirement plan in a bear market 05:01 And if you do have a savings account, it's important to check whether your bank gives you a good interest rate and shop around if it doesn't, Columbia's Ma said. Her advice is to keep an eye on the monthly fees or service charges that might eat into your savings. But don't limit your options. Online banks sometimes offer better rates than traditional ones.Consolidate your loans, and don't take out any moreAs interest rates rise, experts recommend that you consolidate your loans to have just one fixed-rate loan and, if you can, pay down as much of your debt as possible.Credit card debt is getting pricier. Here's how to pay if off.""Job security tends to be worse when a recession comes, it's not a great time to accumulate debt,"" said Ma. But paying off your existing debt is easier said than done. The Federal Trade Commission's Consumer Advice guide for Getting Out of Debt can help you make a plan.With interest rates high, it's also not a great time to take out new loans for big expenses like cars, though experts do recommend that if you need durable goods such as vacuum cleaners, stoves or dishwashers, you buy them as soon as possible to avoid future price increases. Check out second-hand stores and yard salesAllen Galeon, an in-home caregiver in California, has been affected for months by the rising prices of household staples like groceries, paper towels, and gas for his commute. His son's favorite Hi-C orange-flavored drink, which was $1.99 for a six-pack, is now $2.50.Since the start of the pandemic, when Galeon cut down from caring for multiple families to a single client to reduce his health risks, his household has dealt with financial instability.One choice he's made is to buy items like clothes or electronics second-hand whenever possible, whether from Goodwill, pawn shops, or Craigslist. But be careful when making transactions with strangers through classified ads on Craigslist, and read up on safety tips before using the online marketplace.Negotiate your monthly billsSince the pandemic, many companies have updated their relief policies and have become more flexible with users, according to Kia McCallister-Young, director of America Saves. Calling providers of monthly services to negotiate bills — whether it's utilities, phone service, cable, internet or auto insurance — can lead to meaningful savings, said McCallister-Young. Individuals can ask for the best rate, any available discounts, rebates, or coupons that can lead to a lowered monthly fee. If a provider is competitive with other companies, there's an even better chance of getting a discount, she added.""If you tell them, 'I'm thinking of changing' or that you're shopping around, that helps — if they know you're considering leaving, they'll give you the best rate, and the goal right now is to find as much cashflow as possible,"" she said.Check out federal programs such as the Low Income Home Energy Assistance Program, which helps cover bills, and Lifeline, which can assist with phone bills. If you are unsure if you qualify for any federal or state program, you can call 211, which will connect you with a local specialist who can assist you.Switch up your groceriesGrocery shopping with a meal plan, buying generic rather than brand-name products or purchasing in bulk are some of the recommendations from the Consumer Federation of America. ""A lot of stores have price-matching, so if you show them that a competitor is selling the same product at a lower rate, they'll match that,"" said McCallister-Young. ""You also want to be looking at the stores that are closest to you, so you're not spending the extra money you'd save on gas."" Food banks under pressure amid high inflation and rising costs 05:22 An alternative way to save money on groceries is to check out food sharing apps such as Olio, which connects people around their community to share extra grocery items, and Too Good to Go, where customers can buy businesses' surplus food at a discount.Look at government assistance programsEven with these saving and spending practices, a month's wages aren't always enough to cover important expenses. If this is your situation, programs around the country are available to assist you. ""Sometimes there just isn't enough 'end of the month' at the end of the month,"" said Michael Best, an attorney at the National Consumer Law Center who works on financial services issues.To make use of these resources, check if you qualify for the Emergency Rental Assistance Program, Supplemental Nutrition Assistance Program, Farmers Market Nutrition Program, or the Homeowner Assistance Fund. All of these are federal programs coordinated by state governments. Some states offer additional local programs for their residents.Explore community assistanceIf you are experiencing food or housing insecurity, look for nonprofit or community organizations around you. From housing support and food banks to utility assistance, nonprofit organizations around the country can help. National organizations such as Feeding America host food banks in all 50 states. Combating the U.S. military's silent epidemic 06:25 ""We're already seeing the community reaching out to us in overwhelming numbers because of what's happening in the country in terms of economic stability,"" said Kavita Mehra of Sakhi for South Asian Women, an organization that helps domestic violence survivors in New York City.Her organization provides housing, food, and cash emergency assistance for people in the community. She said that between January and June, her group distributed over $150,000 in emergency cash assistance to survivors who were having a harder time keeping the lights on and putting food on the table. That's more than all of last year.Food assistance organizations such as Ample Harvest, Hunger Free America and Food Rescue US offer maps that allow users to search a nearby food bank by typing their zip code.Get some exercise and take care of your mental healthBetween worrying about the bills and not knowing what your financial future might look like, your stress levels can go through the roof. ""It's a hectic existence,"" Galeon said. ""You have to do a lot of managing, and you have to keep a cool head, for the sake of your mental health."" New study suggests depression is not caused by low levels of serotonin 04:17 Debra Kissen, a clinical director of Light On Anxiety CBT Treatment Center, recommends first recognizing when your body is stressed. Then she advises mindfulness exercises such as breathing, touching a wall to calm yourself, and completing the ""five senses for anxiety relief""exercise.Brief workouts are also known to improve both physical and mental health. Research by Iowa State University also finds that a little bit of exercise can improve your mood provide short-term relief for people with depression.Most health insurance covers some type of mental health assistance. If you don't have health insurance, you can look for sliding-scale therapists around the country, including through FindTreatment.gov and the Anxiety and Depression Association of America directory. In: Economy Monkeypox Mental Health Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",How to recession-proof your budget so that you're ready for whatever lies ahead.
"Iran's chief nuclear negotiator Ali Bagheri Kani arrives at Palais Coburg where closed-door nuclear talks with Iran take place in Vienna, Austria, February 28, 2022. REUTERS/Leonhard FoegerRegister now for FREE unlimited access to Reuters.comDUBAI, Aug 3 (Reuters) - Top Iranian and U.S. officials will resume talks in Vienna this week on reviving the 2015 nuclear pact, officials from both countries said on Wednesday, though they played down any expectations of a breakthrough.The ball is in Washington's court to save the pact, Iran's chief negotiator Ali Bagheri Kani tweeted before heading to Vienna, calling on Washington to ""show maturity & act responsibly"".""Heading to Vienna to advance the negotiations. The onus is on those who breached the deal & have failed to distance from ominous legacy,"" tweeted Bagheri Kani.Register now for FREE unlimited access to Reuters.comIran's foreign ministry spokesperson Nasser Kanaani said Tehran was ready to reach a deal that guarantees its rights, according to state media.An Iranian official, who spoke on condition of anonymity, said the talks would resume on Thursday.U.S. Special Envoy for Iran Rob Malley said he was preparing to fly to Vienna but suggested he did not expect major progress.""Our expectations are in check, but the United States welcomes EU efforts and is prepared for a good faith attempt to reach a deal. It will shortly be clear if Iran is prepared for the same,"" he wrote on Twitter.Malley said the talks would proceed on the basis of a text recently proposed by European Union foreign policy chief Josep Borrell to revive the 2015 accord under which Iran curbed its nuclear programme in return for an easing of economic sanctions.Eurasia Group analyst Henry Rome said he thought it unlikely the deal - called the Joint Comprehensive Plan of Action (JCPOA) - would be resurrected this year, putting the odds at 35 percent and saying neither side wanted the blame for its death.""Both the US and Iran have a strong interest in keeping the prospect of a deal alive even though both governments appear resigned to its eventual demise,"" Rome wrote in an analysis.""For the US, the continued focus on the JCPOA postpones a messy and costly pivot to increasing diplomatic and economic pressure on Tehran,"" he added. ""For Iran, continued diplomacy, even if unproductive, supports domestic markets, forestalls greater international pressure, and gives it cover for its continued nuclear advancements.""In 2018, then-President Donald Trump abandoned the deal, calling it too soft on Iran, and reimposed harsh U.S. sanctions, spurring Tehran to begin breaching its nuclear limits.The deal seemed near revival in March after 11 months of indirect talks between Tehran and U.S. President Joe Biden's administration in Vienna.But talks then broke down over obstacles including Tehran's demand that Washington provide guarantees that no U.S. president would abandon the deal as Trump did.Biden cannot promise this because the nuclear deal is a non-binding political understanding, not a legally binding treaty.Another sticking point was Tehran's demand that Washington remove Iran's Islamic Revolutionary Guard Corps from the U.S. Foreign Terrorist Organization list, something Biden has ruled out.In June, the EU-mediated, indirect talks between Bagheri Kani and Malley on salvaging the pact ended in Qatar without progress and a senior U.S. official told Reuters afterwards the odds of a revival had diminished. read more An Iranian official told Reuters the talks in Vienna will be ""in the format of the Doha meeting"", where EU envoy Enrique Mora shuttled between Bagheri Kani and Malley because Tehran refused to hold direct talks with Washington.Register now for FREE unlimited access to Reuters.comReporting by Parisa Hafezi in Dubai and by Arshad Mohammed in Saint Paul, Minnesota; Writing by Parisa Hafezi and Arshad Mohammed; Editing by Toby Chopra, Howard Goller and Alistair BellOur Standards: The Thomson Reuters Trust Principles.","Iran, U.S. negotiators to travel to Vienna for nuclear pact talks."
"The latest labor market forecasts are confusing at best: amidst fears of a looming recession and layoffs at high-profile companies, the number of new hires and people who quit their jobs in June remained incredibly high, according to the latest JOLTS report. Still, it's not a bad time to find your dream job. ""Hiring has slowed a bit, but the good news is that it's still a job-seeker's market, and there are still a ton of opportunities out there,"" LinkedIn career expert Blair Heitmann tells CNBC Make It, adding that hiring has been especially strong in health care, media, construction and financial services industries as of late. Even if the economy takes a turn for the worse, the typical recession lasts less than 18 months — so, ultimately, ""there's a light at the end of a tunnel, and you'll be able to find a job … it might just take a little longer,"" career coach Emily Liou says. Building your confidence in the job search and knowing exactly what hiring managers are looking for can help speed up the process of landing your dream job, regardless of the state of the economy. Here are three tips from career experts to maximize your search: Be first and fast With millions of open jobs on the market — and the Great Resignation showing no signs of slowing down — hiring managers are increasingly under pressure to fill roles ""as quickly as possible,"" Evan Sohn, the CEO of Recruiter.com, says. ""You never want to be the last person to apply for a job because by then, chances are high that they're already close to giving another candidate an offer,"" he adds. The best way to get ahead of the competition? Be first in line to apply for a job opening. LinkedIn research has shown that you're four times more likely to hear back about a position if you apply within the first 10 minutes of the job being posted online. In addition to setting up job alerts on LinkedIn that will remind you of new postings, Heitmann recommends checking a company's website and social media accounts on a frequent basis for openings. Show off your skills Skills-based hiring has been on the rise for years. Between 2017 and 2019, employers reduced the degree requirements for 46% of middle-skill positions and 31% of high-skill positions, according to research from Harvard Business Review and Emsi Burning Glass, a labor market data firm — and even more companies are embracing this approach as a result of the ongoing Covid-19 pandemic, Sohn notes.Instead, companies are adding more detailed soft-skills requirements in their job postings and testing hard skills through certifications, evaluations and other methods.To stand out in the job search, you'll want to identify the top five skills that are most relevant for the job you want, based on job descriptions and conversations with people in similar roles, then evaluate if you're comfortable with those skills. ""Hiring managers, especially right now, want to accelerate the process and hire someone that will make their job easier,"" Heitmann says. ""It's one of the first things they look for on your resume and application.""Once you've identified the top skills you need to succeed at your dream job and are comfortable performing them, Heitmann recommends putting them in a bolded skills section on your resume as well as your LinkedIn profile summary so hiring managers can easily spot them. Look for this keyword on job boards A reliable bellwether of who's hiring and who's not can often come down to one word: ""recruiter.""Instead of looking for job titles you're interested in on LinkedIn, Indeed, Monster and other search platforms, type in ""recruiter"" or ""human resource manager,"" Liou says. ""Nine times out of 10, a company that's hiring or going through a growth spurt is looking for recruiters, or extra support on their human resources team,"" she explains. ""Recruiters are never hired to lay people off — they're there to do the opposite, which is to find talent."" Once you have a solid list of which organizations are hiring, then you can cross-reference the job postings on a company's website to see if there are open roles that excite you, she adds. If you don't see your dream job yet, be patient, because as Sohn points out, there's a strong chance it will be posted soon. ""More than 4 million people quit their jobs in June,"" he adds. ""And I highly doubt that all of these newly open roles have made it to the job boards yet.""Check out:This recruiter got laid off and landed a new job two weeks later—her best job-search tipsThe 10 best states to look for a remote job in right now, according to new researchThese are 10 best U.S. jobs of 2022, according to new research—many pay over $100,000Sign up now: Get smarter about your money and career with our weekly newsletter","These 3 hacks can help you land your dream job right now, according to career experts."
"It has been a rough month for the crypto sector, and it's only the third day of August.From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto Ponzi schemes, this corner of the market can't catch a break.The developments add to an already torrid year for the crypto market, which has seen huge declines as fears around tightening monetary policy and a lack of liquidity set in.The flood of news is difficult for even insiders to track, so here's a rundown of what you've missed since Monday.MondayThe U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022.Al Drago/Bloomberg via Getty ImagesThe Securities and Exchange Commission on Monday filed a civil complaint charging 11 people in the creation and promotion of an allegedly fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.The scheme, called Forsage, claimed to be a decentralized smart contract platform, allowing millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron and binance blockchains. The SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation. In the SEC's formal complaint, Wall Street's top watchdog calls Forsage a ""textbook pyramid and Ponzi scheme,"" in which Forsage aggressively promoted its smart contracts through online promotions and new investment platforms, all while not selling ""any actual, consumable product."" The complaint adds that ""the primary way for investors to make money from Forsage was to recruit others into the scheme.""The SEC said Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit, wrote in a news release.""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Forsage, through its support platform, declined to provide a method for contacting the company and did not offer comment.Four of the 11 people charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia and Indonesia.The SEC has also charged three U.S.-based promoters who endorsed Forsage on their social media platforms. They were not named in the commission's release.Forsage was launched in January 2020. Regulators around the world have tried a couple of times to shut it down. Cease-and-desist actions were brought against Forsage first in September 2020 by the Securities and Exchange Commission of the Philippines. In March 2021, the Montana commissioner of securities and insurance tried the same. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.Two of the defendants, both of whom did not admit or deny the allegations, agreed to settle the charges, subject to court approval.TuesdaySo-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance.Jakub Porzycki | NurPhoto | Getty ImagesCrypto startup Nomad lost almost $200 million in a devastating security exploit. Nomad is known as a ""bridge,"" where users can transfer tokens from one blockchain to another. Hackers exploited a security flaw that let users enter any value into the system and siphon off the funds, even if there weren't enough assets available in Nomad's deposit base.The nature of the bug meant that users didn't need any programming skills to exploit it. Others caught on and deployed armies of bots to carry out copycat attacks.""Without prior programming experience, any user could simply copy the original attackers' transaction call data and substitute the address with theirs to exploit the protocol,"" said Victor Young, founder and chief architect of crypto startup Analog.""Unlike previous attacks, the Nomad hack became a free-for-all where multiple users started to drain the network by simply replaying the original attackers' transaction call data.""Blockchain bridges are a popular way of moving tokens off of networks like Ethereum, which has gained a reputation for slow transaction times and high fees, into cheaper, more efficient blockchains. But sloppy programming choices have made them a prime target for hackers seeking to swindle investors out of millions. More than $1 billion worth of crypto has been lost to bridge exploits so far in 2022, according to blockchain analysis firm Elliptic.""I can only hope that developers and projects will learn that they are running a critical piece of software,"" said Adrian Hetman, tech lead at Web3 security firm Immunefi, told CNBC.""They need to keep the security first be security first at every business decision because they are dealing with people's money a lot of that money is locked in those contracts.""Nomad said it's working with crypto security firm TRM Labs and law enforcement to trace the movement of funds, identify the perpetrators behind the attack and return stolen tokens to users.""Nomad is committed to keeping its community updated as it learns more in the coming hours and days and appreciates all those who acted quickly to protect funds,"" the company said in the statement.Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy's balance sheet as part of an unorthodox treasury management strategy.Eva Marie Uzcategui | Bloomberg | Getty ImagesLater on Tuesday, MicroStrategy announced CEO Michael Saylor is leaving his role to become Executive Chairman of the company. The company's president, Phong Le, will take the reins from Saylor.Saylor has been the CEO since he launched the company in 1989. MicroStrategy went public in 1998.MicroStrategy's stock is down over 48% this year. Bitcoin is down over 51% during that same time period.""I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,"" Saylor said in the release.The announcement comes as the company announces its second quarter earnings, in which its total revenues dropped by 2.6% compared to a year ago. The company also reported an impairment charge of $918 million on the value of its digital assets, presumably primarily bitcoin.MicroStrategy may technically be in the business of enterprise software and cloud-based services, but Saylor has said the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S.""We're kind of like your nonexistent spot ETF,"" Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami in April.Late Tuesday, early WednesdaySolana logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on August 21, 2021.Jakub Porzycki | NurPhoto | Getty ImagesAnd then on Tuesday night, unknown attackers came after hot wallets connected to solana's blockchain.Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic's estimate is slightly higher at 7,936 wallets.Solana's sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It's currently down about 1%, while trading volume is up about 105% in the last 24 hours.Starting Tuesday evening, multiple users began reporting that assets held in ""hot"" wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds.Phantom said on Twitter that it's investigating the ""reported vulnerability in the solana ecosystem"" and doesn't believe it's a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets ""across a wide variety of platforms.""Elliptic chief scientist Tom Robinson told CNBC the root cause of the breach is still unclear, but ""it appears to be due to a flaw in certain wallet software, rather than in the solana blockchain itself."" OtterSec added that the transactions were being signed by the actual owners, ""suggesting some sort of private key compromise."" A private key is a secure code that grants the owner access to their crypto holdings.The identity of the attacker is still unknown, as is the root cause of the exploit. The breach is ongoing.""Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on solana,"" according to Solana Status, a Twitter account that shares updates for the entire solana network.The solana network is strongly encouraging users to use hardware wallets, since there's no evidence those have been impacted.""Do not reuse your seed phrase on a hardware wallet - create a new seed phrase. Wallets drained should be treated as compromised, and abandoned,"" reads one tweet. Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet.A private key is unique and links a user to their blockchain address. A seed phrase is a fingerprint of all of a user's blockchain assets that is used as a backup if a crypto wallet is lost.The Solana network was viewed as one of the most promising newcomers in the crypto market, with backers like Chamath Palihapitiya and Andreessen Horowitz touting it as a challenger to ethereum with faster transaction processing times and enhanced security. But it's been faced with a spate of issues lately, including downtime in periods of activity and a perception of being more centralized than ethereum.",It has been a miserable August for crypto — and it's only the third day of the month.
"Aug 2 (Reuters) - Republican voters on Tuesday chose a raft of candidates supporting Donald Trump's 2020 election falsehoods in multiple party primaries for the November general election - a stark display of the former president's grip on his party.In Kansas, abortion rights activists celebrated a major victory when voters overwhelmingly rejected a ballot initiative that would have endangered abortion access in the first statewide electoral test since the U.S. Supreme Court overturned Roe v. Wade. read more The Kansas result suggested that anger over the Supreme Court's June decision could help Democrats to galvanize voters at a time when many Americans are blaming Democratic President Joe Biden's administration for soaring gasoline and food prices.Register now for FREE unlimited access to Reuters.comBut Tuesday, one of the biggest midterm primary nights of the year, underscored the continued dominance of Trump among Republicans and widespread support for his false claims that the 2020 election was rigged. It was also a warning for any would-be Republican challengers should he seek the White House again in 2024.In the key battleground state of Arizona, state Representative Mark Finchem won the Republican nomination for secretary of state, a position that would give him enormous sway over the conduct of elections should he prevail against his Democratic opponent in November.Finchem was present at Trump's Jan. 6, 2021, speech in Washington that preceded the attack on the U.S. Capitol by Trump supporters and has continued to assert that the former president won the 2020 election.In Michigan, Tudor Dixon, a conservative commentator who has echoed Trump's election claims, won the Republican nomination for governor and will face Democratic Governor Gretchen Whitmer in one of the most high-profile races this November, which will also revolve around abortion rights.Kansas Attorney General Derek Schmidt, endorsed by Trump, secured the Republican nomination for governor. He will face Democratic Governor Laura Kelly in November in what is expected to be a highly competitive race.Blake Masters, a former tech executive who has backed Trump's false fraud claims, secured the Republican nomination in the Senate race, the Associated Press said, and will face Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents. Masters has Trump's endorsement and the backing of tech billionaire Peter Thiel.One of only 10 House Republicans who voted to impeach Trump following the U.S. Capitol attack, U.S. Representative Peter Meijer of Michigan, lost to far-right challenger John Gibbs.Gibbs, backed by Trump, was the beneficiary of Democratic advertising during the Republican primary, part of a risky and highly controversial strategy to try to elevate more vulnerable Republican candidates in swing districts even as party leaders warn they pose a danger to democracy. read more Another Republican who voted to impeach Trump, Jamie Herrera Beutler of Washington, also faced a Trump-endorsed primary challenger. The results of that race were not expected to be known until later on Wednesday or Thursday.KANSAS VOTEPolitical analysts saw the rejection of the abortion limits ballot initiative as having wider implications for the coming general election.With 95% of the estimated vote counted, just under 60% of Kansas voters had cast ballots in support of the state constitution's abortion protections. Unlike the Republican gubernatorial primaries, Kansas' abortion initiative reflected the choices of voters of both major political parties, as well as independents. read more ""When a total ban looks like a possibility, then you're going to get a lot of people to turn out and you're going to lose a lot of the more moderate supporters of abortion restrictions,"" said Neal Allen, a political science professor at Wichita State University.With Biden's unpopularity weighing on Democrats heading into November's election, party leaders were likely heartened by the Kansas result. Democratic candidates are increasingly coalescing around the abortion issue in some swing districts to fend off challenges by Republicans, who are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.TRUMP ENDORSEMENTSAs he flirts publicly with the possibility of running for president again, Trump has endorsed more than 200 candidates. Most are safe bets - incumbent Republicans in conservative districts - but even in competitive races many of his candidates have prevailed.""Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image,"" said Alex Conant, a Republican strategist. ""Republicans who run against Trump tend to get trampled.""On Tuesday, Arizona voters were picking between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump's election falsehoods and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.Arizona Secretary of State Katie Hobbs, who built a national profile by vociferously denying Trump's allegations, easily won the Democratic gubernatorial nomination, Edison Research projected.In Missouri, Attorney General Eric Schmitt won the Republican nomination for U.S. Senate, boosting his party's chances of holding the seat after scandal-hit former Governor Eric Greitens finished well behind.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Richard Cowan, Kanishka Singh, Eric Beech and Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Writing by Joseph Ax and Ross Colvin, Editing by Scott Malone, Alistair Bell, and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Trump-backed candidates prevail in U.S. midterm primaries.
"It has been a rough month for the crypto sector, and it's only the third day of August.From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto Ponzi schemes, this corner of the market can't catch a break.The developments add to an already torrid year for the crypto market, which has seen huge declines as fears around tightening monetary policy and a lack of liquidity set in.The flood of news is difficult for even insiders to track, so here's a rundown of what you've missed since Monday.MondayThe U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022.Al Drago/Bloomberg via Getty ImagesThe Securities and Exchange Commission on Monday filed a civil complaint charging 11 people in the creation and promotion of an allegedly fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.The scheme, called Forsage, claimed to be a decentralized smart contract platform, allowing millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron and binance blockchains. The SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation. In the SEC's formal complaint, Wall Street's top watchdog calls Forsage a ""textbook pyramid and Ponzi scheme,"" in which Forsage aggressively promoted its smart contracts through online promotions and new investment platforms, all while not selling ""any actual, consumable product."" The complaint adds that ""the primary way for investors to make money from Forsage was to recruit others into the scheme.""The SEC said Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit, wrote in a news release.""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Forsage, through its support platform, declined to provide a method for contacting the company and did not offer comment.Four of the 11 people charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia and Indonesia.The SEC has also charged three U.S.-based promoters who endorsed Forsage on their social media platforms. They were not named in the commission's release.Forsage was launched in January 2020. Regulators around the world have tried a couple of times to shut it down. Cease-and-desist actions were brought against Forsage first in September 2020 by the Securities and Exchange Commission of the Philippines. In March 2021, the Montana commissioner of securities and insurance tried the same. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.Two of the defendants, both of whom did not admit or deny the allegations, agreed to settle the charges, subject to court approval.TuesdaySo-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance.Jakub Porzycki | NurPhoto | Getty ImagesCrypto startup Nomad lost almost $200 million in a devastating security exploit. Nomad is known as a ""bridge,"" where users can transfer tokens from one blockchain to another. Hackers exploited a security flaw that let users enter any value into the system and siphon off the funds, even if there weren't enough assets available in Nomad's deposit base.The nature of the bug meant that users didn't need any programming skills to exploit it. Others caught on and deployed armies of bots to carry out copycat attacks.""Without prior programming experience, any user could simply copy the original attackers' transaction call data and substitute the address with theirs to exploit the protocol,"" said Victor Young, founder and chief architect of crypto startup Analog.""Unlike previous attacks, the Nomad hack became a free-for-all where multiple users started to drain the network by simply replaying the original attackers' transaction call data.""Blockchain bridges are a popular way of moving tokens off of networks like Ethereum, which has gained a reputation for slow transaction times and high fees, into cheaper, more efficient blockchains. But sloppy programming choices have made them a prime target for hackers seeking to swindle investors out of millions. More than $1 billion worth of crypto has been lost to bridge exploits so far in 2022, according to blockchain analysis firm Elliptic.""I can only hope that developers and projects will learn that they are running a critical piece of software,"" said Adrian Hetman, tech lead at Web3 security firm Immunefi, told CNBC.""They need to keep the security first be security first at every business decision because they are dealing with people's money a lot of that money is locked in those contracts.""Nomad said it's working with crypto security firm TRM Labs and law enforcement to trace the movement of funds, identify the perpetrators behind the attack and return stolen tokens to users.""Nomad is committed to keeping its community updated as it learns more in the coming hours and days and appreciates all those who acted quickly to protect funds,"" the company said in the statement.Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy's balance sheet as part of an unorthodox treasury management strategy.Eva Marie Uzcategui | Bloomberg | Getty ImagesLater on Tuesday, MicroStrategy announced CEO Michael Saylor is leaving his role to become Executive Chairman of the company. The company's president, Phong Le, will take the reins from Saylor.Saylor has been the CEO since he launched the company in 1989. MicroStrategy went public in 1998.MicroStrategy's stock is down over 48% this year. Bitcoin is down over 51% during that same time period.""I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,"" Saylor said in the release.The announcement comes as the company announces its second quarter earnings, in which its total revenues dropped by 2.6% compared to a year ago. The company also reported an impairment charge of $918 million on the value of its digital assets, presumably primarily bitcoin.MicroStrategy may technically be in the business of enterprise software and cloud-based services, but Saylor has said the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S.""We're kind of like your nonexistent spot ETF,"" Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami in April.Late Tuesday, early WednesdaySolana logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on August 21, 2021.Jakub Porzycki | NurPhoto | Getty ImagesAnd then on Tuesday night, unknown attackers came after hot wallets connected to solana's blockchain.Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic's estimate is slightly higher at 7,936 wallets.Solana's sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It's currently down about 1%, while trading volume is up about 105% in the last 24 hours.Starting Tuesday evening, multiple users began reporting that assets held in ""hot"" wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds.Phantom said on Twitter that it's investigating the ""reported vulnerability in the solana ecosystem"" and doesn't believe it's a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets ""across a wide variety of platforms.""Elliptic chief scientist Tom Robinson told CNBC the root cause of the breach is still unclear, but ""it appears to be due to a flaw in certain wallet software, rather than in the solana blockchain itself."" OtterSec added that the transactions were being signed by the actual owners, ""suggesting some sort of private key compromise."" A private key is a secure code that grants the owner access to their crypto holdings.The identity of the attacker is still unknown, as is the root cause of the exploit. The breach is ongoing.""Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on solana,"" according to Solana Status, a Twitter account that shares updates for the entire solana network.The solana network is strongly encouraging users to use hardware wallets, since there's no evidence those have been impacted.""Do not reuse your seed phrase on a hardware wallet - create a new seed phrase. Wallets drained should be treated as compromised, and abandoned,"" reads one tweet. Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet.A private key is unique and links a user to their blockchain address. A seed phrase is a fingerprint of all of a user's blockchain assets that is used as a backup if a crypto wallet is lost.The Solana network was viewed as one of the most promising newcomers in the crypto market, with backers like Chamath Palihapitiya and Andreessen Horowitz touting it as a challenger to ethereum with faster transaction processing times and enhanced security. But it's been faced with a spate of issues lately, including downtime in periods of activity and a perception of being more centralized than ethereum.",It has been a miserable August for crypto — and it's only the third day of the month.
"Syringes with needles are seen in front of a displayed Moderna logo in this illustration taken November 27, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Moderna Inc (MRNA.O) on Wednesday maintained its full-year COVID-19 vaccine sales forecast of $21 billion as canceled orders from low- and middle-income nations through the COVAX program offset gains from new booster dose orders.Moderna shares jumped nearly 17% in morning trading after the company also announced a $3 billion share buyback plan.Moderna has begun producing a redesigned booster shot targeting both the original coronavirus as well as the BA.4 and BA.5 Omicron subvariants.Register now for FREE unlimited access to Reuters.comIt signed a $1.74 billion deal with the U.S. government last week for 66 million doses to be available this fall and winter, if cleared by health regulators.Despite the contract, Moderna kept its sales forecast unchanged as doses earmarked for the COVAX vaccine sharing program remain unallocated due to low demand.""It's because of COVAX,"" Chief Executive Stephane Bancel said in an interview. ""COVAX does not want the doses that they have ordered.""Moderna and rival Pfizer Inc have been banking on recurring booster doses, including an Omicron-tailored version, to garner more vaccine contracts with higher-income countries.""We do believe the majority of the market demand is captured in this $21 billion. That being said, we continue to work with countries around the world on potential additional orders,"" said Chief Commercial Officer Arpa Garay.Other countries are considering an earlier version of the booster shot designed to target the BA.1 Omicron variant that led to a record surge in infections last winter, rather than the currently dominant BA.5 or related BA.4.Those shots had been in production already and would be available sooner, Bancel said.""There are plenty of countries around the world that would rather start early - as early as August,"" he added.""Some of those countries have said they would rather start with the BA.1 now and then go to BA.4 later versus just waiting and hoping.""Some countries could authorize the retooled BA.1 boosters within the next few weeks, the CEO said.Moderna reported $4.5 billion in COVID vaccine sales in the second quarter. It took a $499 million charge related to vaccines that have expired.Moderna shares were up 16.7% at $187.60 but are off about 30% for the year to date.Register now for FREE unlimited access to Reuters.comReporting by Manas Mishra in Bengaluru and Michael Erman in New Jersey; Editing by Arun Koyyur and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Moderna COVID vaccine sales forecast unchanged even as COVAX program cuts orders.
"A vial labelled ""Novavax COVID-19 Vaccine"" is seen in this illustration taken January 16, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comSummaryCompaniesEMA requests more data from U.S. vaccine maker NovavaxFDA previously flagged risk of heart inflammationHeart inflammation a rare side effect of mRNA shotsLONDON, Aug 3 (Reuters) - The European Medicines Agency (EMA) is recommending Novavax's COVID-19 vaccine carry a warning of the possibility of two types of heart inflammation, an added burden for a shot that has so far failed to win wide uptake.The heart conditions - myocarditis and pericarditis - should be listed as new side effects in the product information for the vaccine, Nuvaxovid, based on a small number of reported cases, the EMA said on Wednesday.Novavax (NVAX.O) said no concerns about heart inflammations were raised during the clinical trials of Nuvaxovid and that more data would be gathered, adding that the most common cause of myocarditis is viral infections.Register now for FREE unlimited access to Reuters.com""We will work with the relevant regulators to assure our product information is consistent with our common interpretation of the incoming data,"" U.S. vaccine developer Novavax added.In June, the U.S. Food and Drug Administration flagged a risk of heart inflammation from the Novavax vaccine. read more Myocarditis and pericarditis were previously identified as rare side effects, mostly seen in young men, from groundbreaking messenger RNA (mRNA) vaccines made by Moderna (MRNA.O) and the Pfizer and BioNTech(22UAy.DE) alliance, with the vast majority of those affected recovering fully.The EMA said on Wednesday it had asked Novavax to provide additional data on the risk of these side effects.Last month, the EU agency identified severe allergic reactions as potential side effects of the vaccine. read more Novavax was hoping that people who have opted not to take Pfizer and Moderna's vaccines would favour its shot because it relies on technology that has been used for decades to combat diseases including hepatitis B and influenza.However, only around 250,000 doses of Nuvaxovid have been administered in Europe since its launch in December, according to the European Centre for Disease Prevention and Control.Register now for FREE unlimited access to Reuters.comReporting by Natalie Grover in London and Ludwig Burger in Frankfurt, additional reporting by Michael Erman in New York; editing by Jason Neely, Emelia Sithole-Matarise and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.",EU says Novavax COVID shot must carry heart side-effect warning.
"World August 3, 2022 / 11:54 AM / CBS/AP Undated family handout photo of Archie Battersbee, whose parents have submitted an application to the European Court of Human Rights in a bid to postpone the withdrawal of his life support. Hollie Dance / AP The family of a comatose British boy at the center of a life-support battle said Wednesday that it has appealed to the European Court of Human Rights in a last-ditch bid to stop a hospital from ending his treatment. Archie Battersbee, 12, was found unconscious at home with a ligature over his head on April 7. His parents believe he may have been taking part in an online challenge that went wrong.Doctors treating him have said they believe it is ""highly likely"" he is brain-stem dead and argued it is in his best interest for life-support to end, BBC News reported.His parents, Paul Battersbee and Hollie Dance, have fought unsuccessfully to get British courts to block the Royal London Hospital turning off the boy's ventilator and stopping other interventions that are keeping him alive. Dance said the family's lawyers submitted an application to the Strasbourg, France-based European human rights court hours before the hospital planned to begin withdrawing Archie's life support on Wednesday morning.She said the family was awaiting a response from the court. ""We now hope and pray that the ECHR will look favorably on the application,"" she said. ""We will not give up on Archie until the end.""She also said the family was considering offers from Japan and Italy to treat Archie.""There's other countries that want to treat him and I think that he should be allowed to go,"" Dance said.Speaking outside the hospital, Dance said the family was ""up against the whole system."" ""I promised Arch, same with his dad, that we will fight till the bitter end, and that's exactly what we're going to do,"" she said. ""We're going to fight for the right for my son to live.""A previous High Court ruling heard Archie's ""every bodily function is now maintained by artificial means"", while another heard the boy had not ""regained awareness at any time,"" BBC News reported. The parents of Archie Battersbee, Paul Battersbee and Hollie Dance, leave the Royal Courts Of Justice in London on July 22, 2022. Victoria Jones/PA Images via Getty Images The case is the latest in the U.K. that has pitted the judgment of doctors against the wishes of families. In several cases, including this one, the families have been backed by a religious pressure group, Christian Concern.Under British law, it is common for courts to intervene when parents and doctors disagree on the treatment of a child. In such cases, the rights of the child take primacy over the parents' right to decide what's best for their offspring.The U.K. Supreme Court said Tuesday that Archie had ""no prospect of any meaningful recovery,"" and even with continued treatment would die in the next few weeks from organ and heart failure. The judges agreed with a lower court that continuing treatment ""serves only to protract his death.""Alistair Chesser, chief medical officer for Barts Health NHS Trust, which runs the hospital treating Archie, said life-support treatment would continue for now.""As directed by the courts, we will work with the family to prepare for the withdrawal of treatment, but we will make no changes to Archie's care until the outstanding legal issues are resolved,"" he said. In: United Kingdom Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Archie Battersbee case: Parents fighting to keep boy on life support go to European Court of Human Rights.
"Traders on the floor of the NYSE, August 1, 2022.Source: NYSEThe SPAC boom is officially a thing of the past.Not a single special purpose acquisition company was issued in July as the market slowdown turned into a screeching halt, according to CNBC calculations of SPAC Research data. Sponsors who once took advantage of a hot market were forced to pause as investor interest waned and regulatory pressure ramped up.SPAC investors have turned their backs on speculative high-growth equities with unproven track records after many of these firms failed to meet inflated forecasts. Meanwhile, regulators started to look into deals that entice investors with forward-looking statements after a boom in 2020 and 2021 created more than 600 SPACs hunting for targets before time runs out.""I think that was a once-in-a-lifetime experience just like during the internet bubble,"" said Jay Ritter, University of Florida finance professor. ""A year ago, the whole market was overpaying and now we have a reset. Giving a valuation of $500 million on a zero revenue company ... those days are gone.""A recent acquisition highlighted just how absurd SPAC valuations were during the mania. Nikola recently announced it will buy Romeo Power in a $144 million all-stock transaction. That's just about 10% of Romeo Power's valuation when it merged with a SPAC less than two years ago.Along with issuance drying up, liquidations are rising amid difficulties in finding suitable targets. Three deals were tabled last month, including Bill Ackman's record $4 billion Pershing Square Tontine, pushing the number of liquidations this year to 10 deals. In all of 2021, only one SPAC was liquidated, according to the calculations.""We expect the acquisition landscape to remain highly competitive, and caution that many SPACs are likely to be pressured on time to find suitable targets,"" Venu Krishna, deputy head of U.S. equity research at Barclays, said in a note.— CNBC's Gina Francolla contributed reporting.",SPAC market hits a wall as issuance dries up and valuation bubble bursts.
"Register now for FREE unlimited access to Reuters.comSummaryOPEC to raise output target by 100,000 bpd from SeptOPEC faces output problems to meet existing targetsU.S. seeking higher OPEC production to counter RussiaBiden trip, U.S arms sales failed to persuadeNUR-SULTAN/LONDON, Aug 3 (Reuters) - OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount analysts said was an insult to U.S. President Joe Biden after his trip to Saudi Arabia to ask the producer group's leader to pump more to help the United States and the global economy.The increase, equivalent to 86 seconds of daily global oil demand, follows weeks of speculation that Biden's trip to the Middle East and Washington's clearance of missile defence system sales to Riyadh and the United Arab Emirates will bring more oil to the world market.""That is so little as to be meaningless. From a physical standpoint, it is a marginal blip. As a political gesture, it is almost insulting,"" said Raad Alkadiri, managing director for energy, climate, and sustainability at Eurasia Group.Register now for FREE unlimited access to Reuters.comThe increase of 100,000 bpd will be one of the smallest since OPEC quotas were introduced in 1982, OPEC data shows.The Organization of the Petroleum Exporting Countries and its allies, led by Russia, a group known as OPEC+ that formed in 2017, had been increasing production by about 430,000-650,000 bpd a month, as they unwound record supply cuts introduced when pandemic lockdowns choked off demand.They had, however, struggled to meet full targets as most members have exhausted their output potential following years of under-investment in new capacity.Combined with disruption linked to Russia's invasion of Ukraine in February, the lack of spare supply has driven up energy markets and spurred inflation.REPAIRING TIESWith U.S. inflation around 40-year highs and Biden's approval ratings under threat unless gasoline prices fall, the president travelled to Riyadh last month to mend ties with Saudi Arabia, which collapsed after the murder of journalist Jamal Khashoggi four years ago.Saudi de-facto ruler, Crown Prince Mohammed bin Salman, whom Western intelligence accused of being behind the Kashoggi murder - which he denies - also travelled to France last month as part of efforts to rebuild ties with the West.A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoOn Tuesday, Washington approved $5.3 billion worth of defensive missile system sales to the UAE and Saudi Arabia but it has yet to roll back its ban on offensive weapon sales to Riyadh.OPEC+, which will next meet on Sept. 5, said in a statement that limited spare capacity requires it to be used with great caution in response to severe supply disruptions.It also said a chronic lack of investment in the oil sector will impact adequate supply to meet growing demand beyond 2023.Sources within OPEC+, speaking on condition of anonymity, also cited a need for cooperation with Russia as part of the wider OPEC+ group.""(This decision) is to calm down the United States. And not too big that it upsets Russia,"" said an OPEC+ source.Benchmark Brent oil futures jumped by around $2 per barrel after OPEC's decision to trade close to $101 per barrel.Shortly after Russia's invasion of Ukraine, which Moscow terms a ""special military operation"", oil prices rose to their highest in 14 years.By September, OPEC+ was meant to have wound down all of the record production cuts it implemented in 2020 in response to the impact of the pandemic.But by June, OPEC+ production was almost 3 million barrels per day below its quotas as sanctions on some members and low investment by others crippled its ability to boost output.Only Saudi Arabia and the UAE are believed to have some spare capacity.French President Emmanuel Macron has said he had been told that Saudi Arabia and the UAE had very limited ability to increase oil production.Register now for FREE unlimited access to Reuters.comAdditional reporting by Alex Lawler, Rowena Edwards, Tamara Vaal and Mariya Gordeyeva; editing by Jason Neely, Emelia Sithole-Matarise and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.",OPEC+ approves tiny oil output rise in rebuff to Biden.
"A mourner holds a sign advocating for gun control while visiting a memorial for victims of a mass shooting at a Fourth of July parade in the Chicago suburb of Highland Park, Illinois, U.S. July 7, 2022. REUTERS/Cheney OrrRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - An Illinois man accused of opening fire on spectators watching an Independence Day parade in a Chicago suburb last month pleaded not guilty on Wednesday to 117 counts connected to the attack, including 21 charges of first-degree murder, local media reported.The suspect, Robert Crimo made his plea on a grand jury indictment during an arraignment hearing in a circuit court in Lake County Circuit Court, the Chicago Sun Times reported.He has been held without bail since he was arrested after the shooting at the July 4th celebration in Highland Park, Illinois, which left seven people dead and more than three dozen injured. If convicted on the murder charges, he would face a mandatory sentence of life in prison without the possibility of parole.Register now for FREE unlimited access to Reuters.comThe bloodshed was part of a recent flare-up of mass shootings in the United States, fueling a long-running debate between advocates of tighter controls over gun ownership and those who oppose any restrictions on the constitutional right of Americans to bear arms.Two of the most prominent of those attacks took place at a school in Uvalde, Texas, where a gunmen shot and killed 19 children and two teachers, and at a supermarket in a predominately Black neighborhood of Buffalo, New York, where a shooting rampage left 10 people dead.The Highland Park suspect had planned the attack for weeks, prosecutors said. On the morning of the parade he climbed to a rooftop along the parade route and fired more than 70 rounds at spectators lining the street below, according to court documents. He then made his getaway dressed in women's clothing and makeup to cover his facial tattoos.A Smith & Wesson semiautomatic rifle, similar to an AR-15, was found at the scene, and a similar weapon was in a car driven by the suspect when he was arrested, according to prosecutors.Register now for FREE unlimited access to Reuters.comReporting by Brendan O'Brien in Chicago; Editing by Frank McGurty and Mark PorterOur Standards: The Thomson Reuters Trust Principles.",Suspect in July 4 mass shooting near Chicago pleads not guilty.
"Democrats and Republicans alike are heading out to the ritzy Hamptons, New York's summer playground, to fill their campaign war chests in the final months of the 2022 midterm elections and, in some cases, to test presidential aspirations for 2024.With just under 100 days until the November elections, more than a dozen congressional and state lawmakers are heading to the Hamptons for fundraisers in August alone. Wall Street executives, media titans, top lawyers and other corporate leaders are hosting numerous pricey fundraising dinners at their beach town estates, according to interviews with GOP and Democratic fundraisers, donors and political consultants. Many of the people in this story declined to be named to discuss private gatherings featuring candidates and other financiers.""They are all here,"" said a Democratic fundraiser hosting multiple upcoming events in the Hamptons.Donors from Suffolk County on Long Island, where the Hamptons are located, have contributed over $17 million to candidates during the 2022 election cycle, according to data from non-partisan campaign finance watchdog OpenSecrets. Suffolk County donors gave more than $45 million to campaigns during the 2020 election.Democrats who've scheduled fundraisers in the Hamptons include, author and Maryland Democratic gubernatorial nominee Wes Moore, New York Gov. Kathy Hochul, Georgia gubernatorial nominee Stacey Abrams and California House Rep. Karen Bass according to invitations reviewed by CNBC and people familiar with the matter. Hochul is running for reelection against Rep. Lee Zeldin, R-N.Y., while Bass is campaigning to be the next mayor of Los Angeles.A Hochul campaign spokeswoman declined to comment. Representatives for Moore, Abrams and Bass did not return requests for comment.Republicans who recently scheduled or have allies trying to organize meetings in the Hamptons with top donors include Nebraska Sen. Ben Sasse, Florida Gov. Ron DeSantis, Arkansas Sen. Tom Cotton, House Minority Leader Kevin McCarthy of California, former Vice President Mike Pence and Marc Molinaro, a county official in New York state, according to invitations and people familiar with the matter.Representatives for Sasse, DeSantis, Cotton, McCarthy and Molinaro did not return requests for comment.Sasse isn't up for reelection until 2026 so his fundraiser could fuel speculation that he's considering running for president in 2024. Mark Gerson and Rabbi Erica Gerson are hosting a fundraiser for Sasse at their Sag Harbor, N.Y., home on Friday, according to an invitation. Seats are going for between $1,000 to $10,800 per person, which will go to Sasse's leadership committee. Gerson, who is the co-founder of financial advisory firm Gerson Lehrman Group, did not return requests for comment.Molinaro is running for a New York House seat in November, and McCarthy is up for reelection this year. Republican kingmaker and metal mogul Andy Sabin is cohosting a fundraiser on Thursday at his seven-acre compound in Amagansett near East Hampton for Molinaro with McCarthy as a featured guest, according to the businessman.Tickets for the event go from $1,000 to $5,000 in support of Malinaro's campaign. He noted that Zeldin and Rep. Andrew Garbarino, R-N.Y., are also attending the event. Stephen Louro, the CEO of employee benefit and insurance company Professional Group Plans is hosting a fundraiser at his Nissequogue estate for Zeldin on Aug. 24. The dinner, which is backing his gubernatorial campaign, will feature a jet suit flight demonstration, a performance by vocalist Christopher Macchio and a fireworks show, according to an invitation. Louro's massive waterfront home includes a pool and direct access to the beach, according to Virtual Globetrotting, a website that tracks the homes of the rich and famous.Louro did not return requests for comment.Sabin said he was invited to a Hamptons fundraiser that took place at the end of July for DeSantis' gubernatorial campaign which was hosted by an investor named Doug Douglas, the Republican fundraiser explained. Another GOP fundraiser said DeSantis is expected to come back to the Hamptons by the end of the month.Sabin, who contributed just over $220,000 to Trump Victory, a joint fundraising committee for former President Donald Trump's campaign and the Republican National Committee during his two runs for president, said he won't back Trump in a GOP primary for president in 2024 — but he would support him in the general election if he gets the nomination in 2024. Sabin said he's met with multiple potential 2024 contenders, and, while he wouldn't say who he's met with, he noted he hasn't spoken to Trump since his 2020 defeat. He recently helped DeSantis raise over $1 million at a fundraiser at the Ocean Reef Club in Key Largo, Fla., Sabin said.Sabin said one of the reasons he soured on Trump is the former president's reluctance to move on from the 2020 presidential election. ""I think a lot of people like myself wanted him to get past 2020,"" Sabin explained. ""He could be such a huge help to the party if he could get over the fact that he lost,"" he added.Trump told New York Magazine in a recent interview that he has already decided to run for president again, and that he only needs to settle whether he launches a campaign before or after the 2022 midterm elections.DeSantis is fighting for reelection in Florida, but he too has been meeting with powerful out-of-state donors and has not publicly ruled out running for president either. Cotton also isn't up for reelection for another four years, but he's reportedly huddled with donors to discuss a 2024 run for president. Pence, who was Trump's vice president, has also been privately huddling with donors and not ruling out a 2024 White House run.As for the other hosts of these events in August, it's a who's who of affluent business leaders that could help raise millions of dollars for candidates. Moore is set to be hosted at the Water Mill, N.Y. home of Brian Eizenstat, a managing partner at hedge fund Dilation Capital, according to an invitation. The event is set to take place Aug. 21, with tickets starting at $500 and going to $6,000. Other cohosts listed include Jon Henes, the CEO of corporate advisory firm C-Street Advisory Group.Eizenstat did not return a request for comment.Wall Street veteran Richard Perry and his wife, Lisa are hosting a fundraiser at their Hamptons home for Abrams on Thursday, according to an email to donors. The invitation, which doesn't say who's hosting the event, asks for $1,000 to $10,000 per ticket. The gathering is in support of One Georgia, Abrams' leadership committee, according to the invitation.Perry's Hamptons beach-front estate in Sag Harbor has a pool and tennis court, according to Virtual Globetrotting. Perry once ran the now closed Perry Capital and is the nephew to the late Jimmy Cayne, the former CEO of Bear Stearns.Abrams this week will also be at the Hamptons home of Emily Giske, a senior partner at lobbying giant Bolton-St.Johns, one political consultant said. Gisk did not respond to a request for comment. Perry and his wife did not return repeated requests for comment.Businessman Dennis Mehiel is scheduled to cohost an evening reception for Hochul at his Water Mill mansion on Aug. 13, according to an invitation. Tickets for that gathering run up to $25,000, with other cohosts including public relations executive Mike Kempner and Bruce Mosler, a leader of the law firm Cushman and Wakefield.Charles Philips, the former CEO of software company Infor, is cohosting with veteran attorney Melissa Prober a $1,500-a-plate fundraiser at his East Hampton home for Bass. Phillips said he's also hosting a fundraiser for New York Mayor Eric Adams at the end of August.""For moderate common sense Democrats, the donors seem supportive and interested,"" he added, when asked the type of reception he's receiving for the Bass event.",New York's ritzy Hamptons plays host to over a dozen political fundraisers this month as midterms approach.
"A man checks his mobile phone as he stands on a busy road in Kolkata, India January 6, 2017. REUTERS/Rupak De ChowdhuriRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 3 (Reuters) - India's government on Wednesday withdrew a data protection and privacy bill which was first proposed in 2019 and had alarmed big technology companies such as Facebook and Google, announcing it was working on a new comprehensive law.The 2019 law had proposed stringent regulations on cross-border data flows and proposed giving the Indian government powers to seek user data from companies, seen as part of Prime Minister Narendra Modi's stricter regulation of tech giants.A government notice said the decision came as a parliamentary panel's review of the 2019 bill suggested many amendments, leading to the need for a new ""comprehensive legal framework"". The government will now ""present a new bill"", the notice added.Register now for FREE unlimited access to Reuters.comIT minister Ashwini Vaishnaw told Reuters the government has started drafting the new bill, ""which is in good advanced stages"", with a public release ""very close"".The government aims to get the new bill approved and made into law by early 2023 in the parliament's budget session which typically runs January-February, he said.The 2019 privacy bill was designed to protect Indian citizens and establish a so-called data protection authority, but it had raised concerns among Big Tech giants that it could increase their compliance burden and data storage requirements. (https://reut.rs/3JyJGld)""It is good that there will be a redraft from scratch,"" said Prasanto Roy, a New Delhi-based consultant who closely tracks India's technology policy.""However, India still has no privacy law in sight. That's leaving data regulation open to a wide variety of sectoral regulations, something a common privacy law could have harmonised.""Asked about consultation with stakeholders on the new bill, Vaishnaw said the process ""won’t be that long"" because the parliamentary panel that reviewed the old bill had already gathered industry feedback.CONCERN OVER DATA MISUSEIndia says such regulations are needed to safeguard the data and privacy of citizens. Lawmakers have said that concerns about misuse of sensitive personal data have risen exponentially in India.Companies including Facebook (META.O), Twitter (TWTR.N) and Google (GOOGL.O) have for years been concerned with many other separate regulations India has proposed for the technology sector, often straining relations between New Delhi and Washington.After India's privacy law plan of 2019, it also floated new proposals to regulate ""non-personal data"", a term for data viewed as a critical resource by companies that analyse it to build their businesses. The parliamentary panel had said such non-personal data should be included in the purview of the privacy bill.The bill also exempted government agencies from the law ""in the interest of sovereignty"" of India"", a provision privacy advocates at the time said would allow agencies to abuse access.""There were multiple, large concerns earlier. One has to wait and watch whether the new bill is any better,"" said Apar Gupta, the executive director at advocacy Internet Freedom Foundation.Register now for FREE unlimited access to Reuters.comReporting by Aditya Kalra and Aftab Ahmed in New Delhi; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.","India nixes privacy bill that alarmed big tech companies, works on new law."
"CBS Evening News August 2, 2022 / 7:11 PM / CBS News Slava Medvedenko played alongside Shaquille O'Neal and Kobe Bryant, winning back-to-back championships with the Los Angeles Lakers in the early 2000s. He's got the bling to show for it. But he's putting his two championship rings up for auction this week ""because I want to help my country,"" the Ukraine native told CBS News. Medvedenko said 100% of the money from the auction will go to his Fly High Foundation, ""to help kids, to send them from the east of Ukraine, to move them in a safe place.""  Some of the most intense fighting during the war in Ukraine has taken place in the Donbas, a region in eastern Ukraine. Once the war is over, Medvedenko said his foundation will ""rebuild and fix sport gyms in schools because 100 schools [have been] totally destroyed.""  ""Sport is mental rehabilitation,"" he said. While Medvedenko does not have any military experience, he is one of the many people who volunteered to fight to defend Ukraine as he dreams of better days to come. ""I just recognized I can die in an instant,"" Medvedenko said of why he decided to part with his rings. ""These rings will just sit in a safe, it cannot help me. I have to do something positive.""  FILE -- Kobe Bryant talks to Slava Medvedenko of the Los Angeles Lakers during the NBA season opener against the San Antonio Spurs at Staples Center on October 29, 2002, in Los Angeles, California.  Getty Images In: Los Angeles Lakers Ukraine NBA Russia Jamie Yuccas Jamie Yuccas is a CBS News correspondent based in Los Angeles. Twitter",Ex-Laker Slava Medvedenko puts NBA championship rings up for auction to help his native Ukraine.
"Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - An attorney for the parents of a child killed in the Sandy Hook massacre showed a jury video on Wednesday of U.S. conspiracy theorist Alex Jones telling his Infowars viewers that the jury in his defamation case was full of people who ""don't know what planet they're on.""Jones, founder of the Infowars radio show and webcast, is on trial in Texas to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.comMark Bankston, the lawyer for the parents, accused Jones on Thursday of approaching the trial in bad faith, citing broadcasts where he said the trial is rigged against him.Bankston showed video of Jones saying on air Friday that the jury pool was full of people who ""don't know what planet they're on.""He also showed jurors an image from Jones's show that Bankston said depicted Judge Maya Guerra Gamble, who is overseeing the case, on fire. Jones responded that the image shows Lady Justice on fire, not Gamble.Jones has already been found liable for defamation by Gamble, who issued a rare default judgment against him in 2021.Jones on Wednesday attempted to distance himself from previous falsehoods that the shooting was a hoax, saying it was “crazy” of him to repeatedly make this claim.Jones told jurors that the shooting was “100 percent real.”Heslin told jurors on Tuesday that the falsehoods Jones spread to his millions of listeners made his life “hell” and resulted in a campaign of harassment and death threats against him by people who believed he lied about his son’s death.Lewis said she believes that Jones knew that the hoax claims were false but spread them anyway because they attracted listeners and helped him market his supplements and other products.Free Speech Systems declared bankruptcy last week. Jones said during a Monday broadcast that the filing will help the company stay on the air while it appeals.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Amy Stevens, Noeleen Walder and Mark PorterOur Standards: The Thomson Reuters Trust Principles.","Alex Jones claims defamation trial rigged, jurors don't know what ""planet they're on""."
"A customer walks towards the entrance of a CVS Health Corp. store in downtown Los Angeles, California, U.S., on Friday, Oct. 27, 2017.Christopher Lee | Bloomberg | Getty ImagesCheck out the companies making headlines in midday trading Wednesday.Gilead Sciences — Shares of the biopharma company rose 6.6% after quarterly revenue of $6.26 billion smashed a FactSet estimate of $5.86 billion. Full-year revenue guidance of $24.5 billion also came in better than expected.CVS Health — The pharmacy giant's shares rose 5.7% after the company beat Wall Street's expectations for the second-quarter earnings. It also posted a same-store sales increase of 8% compared with the same period a year ago, citing customer purchases of at-home Covid test kits and cough, cold and flu medications.Electronic Arts — The video game company rose 4% after it reported adjusted earnings of 47 cents per share, beating a Refinitv forecast of 28 cents per share for its most recent quarter. Net bookings of $1.30 billion also beat estimates of $1.26 billion, thanks in part to strength in the EA's FIFA franchise.Charles River Laboratories — Shares dropped 9.2% after the pharmaceutical company reduced full-year guidance, citing a stronger dollar and rising interest rates.Starbucks — The coffee chain saw shares edge higher by more than 3% after it reported better-than-expected quarterly results, despite lockdowns in China weighing on its performance. Within the U.S., however, net sales rose 9% to $8.15 billion and same-store sales grew 3%.Moderna — Shares of the vaccine stock jumped 16.7% after Moderna's second-quarter results easily topped Wall Street estimates. The company reported $5.24 in earnings per share on $4.75 billion of revenue. Analysts surveyed by Refinitiv were expecting $4.55 in earnings per share and $4.07 billion of revenue. Moderna also announced a $3 billion share buyback program.SoFi Technologies — Shares soared more than 27% after the personal finance company posted a beat on the top and bottom lines, issued strong full-year revenue guidance and reported a 91% jump in personal loan origination volume.Match Group —  Shares of the dating app operator tumbled 17% after the company reported revenue of $795 million for the second quarter, compared with a StreetAccount estimate of $803.9 million. Match also issued weak guidance and announced the departure of Renate Nyborg, CEO of its Tinder unit.Airbnb — Shares of Airbnb slipped about 3% after the vacation home rental company posted weaker-than-expected revenue for the second quarter. The company also reported more than 103 million booked nights and experiences, the largest quarterly number ever for the company but short of StreetAccount estimates of 106.4 million.PayPal — The payments giant's shares soared 9.4% following stronger-than-expected second-quarter results and an increase in its forecast. PayPal also revealed it has entered into an information-sharing agreement with Elliott Management and announced a $15 billion share buyback program. — CNBC's Jesse Pound and Sarah Min contributed reporting","Stocks making the biggest moves midday: Gilead Sciences, CVS, Electronic Arts and more."
"Members of Italy's tax police stand by a display of money seized during an operation involving assets worth over 141 million euros ($144 million), which a source familiar with the matter said were seized from an architect linked to Russian President Vladimir Putin who is accused of allegedly breaking Italian tax rules, in Brescia, Italy, in this picture released on August 3, 2022. Guardia di Finanza/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comROME, Aug 3 (Reuters) - Italy's tax police have seized assets worth over 141 million euros ($144 million) from an architect who designed a luxury estate on the Black Sea which has been dubbed ""Putin's palace"" by opponents of the Russian president.The tax police sent a statement earlier on Wednesday saying it had seized the assets from a ""well-known professional"" in Brescia, a town in northern Italy, citing alleged tax offences.Two sources told Reuters the assets belonged to Lanfranco Cirillo, who designed a grand estate on the Black Sea in Russia that became known as ""Putin's palace"" due to claims by a businessman that the property was built for Russian President Vladimir Putin.Register now for FREE unlimited access to Reuters.comA lawyer for Cirillo confirmed that his client's assets had been seized but said he was not guilty of any wrongdoing regarding Italian taxes, adding he had based himself in Russia for many years and been granted Russian citizenship in 2014.""The architect, who is in Moscow, is very disappointed by the fact that having bought some prestigious properties and works of art in Italy, and having provided for his wife and daughter are used to argue that he faked his move abroad,"" lawyer Stefano Lojacono said in a statement.A helicopter, luxury properties, cash, jewels and important works of art were among the items seized, according to the tax police in Brescia.President Putin has denied any link to the luxury property on the Black Sea. The issue surfaced again early in 2021 when jailed Kremlin critic Alexei Navalny made an online video claiming that Putin was its ultimate owner.In an interview with Italian televison in April, Cirillo said he had designed the building but that it was commissioned by a private group and he had had no dealings with Putin.""It's madness to think that the president of such an important country would need to build a palace for himself,"" Cirillo said in the interview on Italy's La7.($1 = 0.9822 euros)Register now for FREE unlimited access to Reuters.comReporting by Giuseppe Fonte and Giuseppe Fonte in Rome and Emilio Parodi in Milan, writing by Agnieszka Flak and Keith Weir
editing by Andrew Cawthorne and David EvansOur Standards: The Thomson Reuters Trust Principles.",Italy police seize assets from architect linked to Russia.
"Montenegro's Prime Minister Dritan Abazovic and the Serbian Orthodox Church Patriarch Porfirije?meet to sign a contract regulating their ties, in Podgorica, Montenegro August 3, 2022. Government of Montenegro/Handout via REUTERS Register now for FREE unlimited access to Reuters.comPODGORICA, Aug 3 (Reuters) - Several political parties initiated a parliamentary no-confidence motion in the Montenegro's government after it signed a long-disputed contract regulating the country's ties with the powerful Serbian Orthodox Church on Wednesday.Prime Minister Dritan Abazovic has insisted the deal would resolve a long-standing domestic problem and help heal deep divisions between pro-European Union parties and backers of closer relations with Serbia and Russia.The deal regulates relations between the Serbian Orthodox Church, the largest church in Montenegro, including its real estate ownership rights, and the state of Montenegro.Register now for FREE unlimited access to Reuters.comThe proposed contract has been criticised by human rights activists and pro-Western political parties who said it gave the church too much power compared to other religious communities, and asked for further expert consultations on the matter.But Abazovic and the Serbian Orthodox Church Patriarch Porfirije signed the agreement without the presence of media, and with no prior announcement, in a government villa whose entrance was cordoned off by police while a few dozen protesters demonstrated against it.After a heated debate during a government session that followed the signing ceremony, 36 opposition deputies filed a proposal for a parliamentary no-confidence motion in the Abazovic's minority government which was approved in April.They said the government has failed to make progress on reforms needed for Montenegro's membership in the European Union, as it had promised, while focusing on the relations with the Serbian Orthodox Church and raising tensions in the society.The parliament session on the no-confidence vote will be held on Aug. 19. It needs an approval of a simple majority in the 81-seat parliament.Montenegro's politics have been long marked by divisions between those who identify as Montenegrins and pro-Russia Serbs who opposed the Adriatic country's independence from a former state union with Serbia and prefer stronger ties with Serbia and Russia.Montenegro left its union with Serbia in 2006 but its church did not get autonomy and remained under the Serbian Orthodox Church, making it a symbol to some of Serbian influence.Register now for FREE unlimited access to Reuters.comWriting by Daria Sito-Sucic; Editing by Aleksandar Vasovic, William Maclean and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.",Montenegro govt church deal triggers initiative for no-confidence motion.
"A Commerzbank logo is pictured before the bank's annual news conference in Frankfurt, Germany, February 9, 2017. REUTERS/Ralph Orlowski/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesBanks from Spain to Britain get a liftFollows years of ultra-low interest ratesGermany's Commerzbank benefiting from higher ratesFRANKFURT/MADRID/LONDON, Aug 3 (Reuters) - European banks are hoping the boost to their businesses from higher interest rates will be long-lasting as they navigate the economic fallout of war, soaring inflation, and a looming energy crisis.The German lender Commerzbank (CBKG.DE) on Wednesday reported a bigger-than-expected second-quarter net profit that it said was especially helped by higher interest rates. read more Exhibiting a trend seen across Europe, Commerzbank's net interest income jumped 26% in the period from a year earlier as longer-term interest rates rose in Germany and as the central bank in Poland, where it has a big presence, hiked official borrowing costs.Register now for FREE unlimited access to Reuters.comManfred Knof, the bank's chief executive, described ""considerable"" risks on the horizon, but singled out interest rates as a ""bright spot"".For years, bank executives on the continent have bemoaned the European Central Bank's ultra-low monetary policy and charging of fees to park their cash as a drag on their bottom lines.But now, central bank efforts to arrest runaway inflation rates across Europe are proving a change of fortune. Banks from Spain to Britain are only just starting to benefit from the increased gap between what they charge borrowers and what they pay savers.""Higher interest rates will strongly benefit all European banks' net interest margins and overall profitability, but the effect will be gradual and will vary between countries,"" Moody's said in a recent report.Moody's pointed to banks in Spain, Italy and Portugal as among those that will in particular profit from higher rates because more bank loans there are variable rate, giving lenders a ""more pronounced increase in bank revenues"".The higher income is bolstering executives' confidence about revenue, even as European officials cut growth forecasts amid soaring inflation and business activity contracts. read more In Spain, Bankinter (BKT.MC) raised its guidance for net interest income from a low single-digit to a mid-to-high single-digit percentage growth for 2022, and Banco Sabadell (SABE.MC) made a similar upgrade. read more Big British lenders including HSBC , Lloyds Banking Group and NatWest (NWG.L) raised their forecasts for 2022 when reporting first half earnings over the last week, citing rising interest rates which are boosting lending margins. read more Higher rates drove profits at Italy's top two banks Intesa Sanpaolo (ISP.MI) and UniCredit (CRDI.MI) above market expectations in the second quarter.Even banks in Germany, where stiff competition has depressed profits for the industry for years, are set to benefit with 11 billion euros in increased revenues in 2023 as a result of higher interest rates, according to a recent study by PricewaterhouseCoopers.That's a significant figure, representing more than five times last year's annual profit of Deutsche Bank (DBKGn.DE), the country's largest lender.Reuters GraphicsCommerzbank reckons on earning at least 300 million euros more in additional interest income this year compared with 2021, rising to 800 million more in 2024. That compares with analyst expectations of total revenues of 9 billion for this year.But the ultimate benefit is still unclear.""We don't yet know how customers will react after many years of ultra-low rates,"" Commerzbank Chief Financial Officer told journalists.In the case of Commerzbank, as with other banks, the tailwind will only partly counteract hits from potential writedowns for corporate loans that turn sour if energy sources dry up.The bank sees provisions and writedowns of 700 million euros this year, up from 570 million last year.Register now for FREE unlimited access to Reuters.comAdditional reporting by Marta Orosz in Frankfurt and Valentina Za in Milan;Editing by Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.Tom SimsThomson ReutersCovers German finance with a focus on big banks, insurance companies, regulation and financial crime, previous experience at the Wall Street Journal and New York Times in Europe and Asia.",Higher interest rates a 'bright spot' for Europe's banks.
"A customer exits the lobby of JPMorgan Chase & Co. headquarters in New York May 14, 2012. REUTERS/Eduardo Munoz/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - L'ATTITUDE Ventures on Wednesday closed its first institutional fund raising over $100 million with an anchor investment from Wall Street giant JPMorgan Chase (JPM.N) and initial investments from Trujillo Group and Bank of America (BAC.N).The fund which intends to invest in early-stage U.S. companies that are either founded or run by Latino entrepreneurs also had investments from Barclays (BARC.L), Royal Bank of Canada (RY.TO) and Cisco, among others.""Latino-led businesses are critical to the U.S. economy but often lack access to capital and resources for growth,"" said Jamie Dimon, chief executive officer, JPMorgan.Register now for FREE unlimited access to Reuters.comThe investment is intended to build on the largest U.S. bank's broader commitment to supporting Latino entrepreneurs and small businesses in the country, Dimon added.High-growth companies, particularly in the technology and healthcare sector have boomed since the start of the pandemic, with several large venture capital and private equity firms betting on the potential of the startups.Several large financial firms have looked to increase their diversity footprint and support minority communities since 2021 as impact investing gains momentum. Companies are becoming more conscious of backing businesses and startups from traditionally underrepresented socio-cultural backgrounds.""(The investment) reinforces our ongoing efforts to address the persistent gap in access to growth capital and open more doors for emerging companies led by diverse entrepreneurs,"" said Bank of America's Chief Executive Brian Moynihan.Register now for FREE unlimited access to Reuters.comReporting by Manya Saini in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.","JPMorgan, Bank of America invest in L'ATTITUDE Ventures' first fund."
"Register now for FREE unlimited access to Reuters.comLOS ANGELES, Aug 3 (Reuters) - Action movie ""Bullet Train"" starring Brad Pitt is pulling into its final stop - cinemas - starting on Wednesday.
The film sees Pitt's hitman character, Ladybug, seemingly taking on his easiest job as he is asked to locate a suitcase on a high-speed train and then disembark.
Unbeknownst to him, he is not the only assassin looking for the case, or for revenge. The other assassins traveling with intent include Lemon (Brian Tyree Henry), Tangerine (Aaron Taylor Johnson), Prince (Joey King), Hornet (Zazie Beetz) and Wolf (Bad Bunny).Pitt said he read the script while under lockdown during the COVID-19 pandemic and found himself laughing.""It's just like the salve for what we needed,"" Pitt said at the movie's red-carpet premiere in Hollywood. ""Now it's summer, we can be out and release it, and it just feels fun.""Register now for FREE unlimited access to Reuters.comBrad Pitt and the cast members gather for the premiere of the film 'Bullet Train' in Los Angeles, California, U.S., August 1, 2022. REUTERS/David SwansonThe movie, directed by ""Deadpool 2"" filmmaker David Leitch, was filmed while pandemic lockdowns and extensive COVID prevention protocols were still in place.""We had the outer circle and people could only be on the train from the inner circle,"" Pitt said in an interview. ""We had to get off the train for the outer circle to come on. It was just like a bit of a Keystone Cop situation.""The film sees Pitt's character go toe-to-toe with the other assassins in high octane and often humorous fight scenes.
Henry, who speaks with a Cockney accent in the film, said the fight sequences with Pitt were ""the most therapeutic thing that ever happened.""""I think that the consensus is everyone left a little bit better after slapping the shit out of Brad, so it was a lot of fun,"" Henry said.Register now for FREE unlimited access to Reuters.comReporting by Lisa Richwine;
Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",Brad Pitt action movie 'Bullet Train' speeds into theaters.
"Politics Updated on: August 2, 2022 / 6:54 PM / CBS News How drone strike took out al Qaeda leader Logistics of the drone strike that took out al Qaeda leader Ayman al-Zawahiri 03:46 Two Hellfire missiles ended al Qaeda leader Ayman al-Zawahiri's life in a safehouse balcony in a wealthy neighborhood in Kabul, the capital of Afghanistan, at 6:18 a.m. Sunday, a senior administration official said Monday. The missiles were launched by an unmanned aerial vehicle, or drone, killing him instantly. The nature of the strike as described by a senior administration official signals that the U.S. may have used the R9X Hellfire variant, also known as the ""Ninja"" or ""Flying Ginsu"" missile, nicknamed for knives famously sold on TV in the 1980s. This variant has been used in the recent past to kill other extremist leaders.  The R9X Hellfire has six blades that rotate at high speed and deploy before impact — instead of conventional warhead explosives, according to Janes, a defense intelligence provider. The missile pierces and cuts its target, rather than blowing it up. The design makes it easier to take out an intended target, while lessening the likelihood of causing additional casualties.  Ayman Al-Zawahiri in an undated image from video Maher Attar/Sygma via Getty Images The White House has not shared details about the type of Hellfire missiles used. A reporter asked a senior administration official on a call Monday about the nature of the missile, but the official did not answer. The senior administration official who briefed reporters said the strike only killed al-Zawahiri, avoiding civilian casualties and that the strike did not completely destroy the safehouse where al-Zawahiri was hiding with his family. It is unclear whether the missiles inflicted structural damage beyond the patio. Two intelligence sources familiar with the matter said the CIA carried out the strike. Hellfire missiles are air-to-surface missiles initially designed for anti-armor strikes, but later versions have been used for precision drone strikes. The arms manufacturer Lockheed Martin developed the missiles with the name ""Heliborne, Laser, Fire, and Forget Missile,"" which evolved into the Hellfire missile, as it is now known. The R9X variant was initially deployed in secret in 2017, according to a U.S. Army equipment guide, and was used to kill Abu Khayr al-Masri, a member of al Qaeda's leadership. Photos of the aftermath on social media showed the car where al-Masri was purportedly killed as having damage to the passenger compartment of the beige Kia sedan but no damage to the engine block. The roof was blown open on the right side of the vehicle. An image from video posted online by Syrian activists in Idlib province shows people inspecting a sedan damaged heavily by a purported U.S. airstrike on Feb. 26, 2017. There were unconfirmed reports that al Qaeda deputy leader Abdullah Muhammad Rajab Abdulrahman, aka Abu al-Khayr al-Masri, was killed in the strike.  The Hellfire variant became public knowledge after it was used in 2019 to take out Jamal Ahmad Mohammad Al Badawi, who was behind the 2000 USS Cole Bombing.  The Wall Street Journal reported in 2019 that a weapon similar to the R9X was considered as an alternative way to kill former al Qaeda leader Osama bin Laden in 2011, but officials ultimately decided to use special forces fighters.  Eleanor Watson CBS News reporter covering the Pentagon. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Al-Zawahiri was on his Kabul balcony. How Hellfire missiles took him out.
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Shares of AMTD Digital plunged 40% on Wednesday to snap an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech's market value past that of Facebook-owner Meta Platforms.The company's market capitalization closed above $300 billion in a 128% jump on Tuesday, reminding investors of the meme stock mania last year that drove record rallies in shares of companies such as GameStop (GME.N) and AMC (AMC.N).The stock has risen about 21,000% since its July IPO, when it listed at a price of $7.80. It was trading at $1014.98 on Wednesday.Register now for FREE unlimited access to Reuters.com""It sure looks a lot like a pump-and-dump,"" Nate Anderson, founder of Hindenburg Research, said, adding that it does not have a position in AMTD Digital. ""It seems to have caught on among retail investors, which is often the fuel for these situations.""In a typical pump-and-dump scheme, investors create artificial demand to boost companies' stock prices and then sell their own shares at a profit causing prices to fall, saddling others investors with losses.AMTD Digital was also the most-mentioned stock on Reddit.com, the social media platform central to the meme stock craze of 2021. read more The company said on Tuesday there was no material change or event related to the company's business and operating activities since the IPO date and that it was monitoring the share volatility.The fintech firm, which provides loans and services to startups in exchange for fees, has a low float and is tightly controlled by parent company AMTD Idea (AMTD.N).AMTD Idea's shares also slid 4% after closing Tuesday with a market value of $2.6 billion.""(AMTD Digital) is clearly the newest meme stock with bands of retail traders purchasing the stock at the same time, pushing the price sharply higher,"" said Victoria Scholar, head of investment at Interactive Investor.There has been a similar, but smaller, surge in some other recently listed U.S. companies, including Getty Images which jumped over 200% since its debut on July 25.""Should this market rebound have more legs, we expect retail investors' appetite for speculative stocks to continue, as they seek the opportunity to further scratch back the losses they’ve accumulated through the year,"" said Lucas Mantle, a data science analyst at Vanda Research.Retail investors snap up shares of AMTD and othersRegister now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar and Medha Singh in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.",Newly minted meme stock darling AMTD slides after eye-popping surge.
"Politics August 3, 2022 / 12:17 PM / CBS News Washington — President Biden is set to sign an executive order Wednesday aimed at making it easier to travel to obtain an abortion and enforcing federal non-discrimination laws for those seeking the procedure, his latest unilateral effort to secure abortion rights in the wake of the Supreme Court's decision to strike down Roe v. Wade.The order directs the secretary of health and human services to consider actions to support patients traveling out of state for abortions, including through the use of waivers that would allow states where abortion is legal to cover the cost of the procedure under Medicaid for out-of-state residents. The order also directs the secretary to make sure health care providers comply with federal non-discrimination laws, and asks him to evaluate and improve research and analysis on maternal health outcomes. The president is signing the executive action Wednesday at during a virtual appearance at the first meeting of his newly created Task Force on Reproductive Healthcare Access. Mr. Biden is still recovering from a ""rebound"" case of COVID-19 and isolating at the White House. The White House has said it continues to look for actions the president can take on his own to protect access to abortions in light of Roe's reversal, but the steps the president has taken so far shed light on just how limited his powers are without congressional action. The president has alluded to his limitations without the legislative branch before, and consistently encourages Congress to enshrine abortion protections into federal law. ""The only way we can secure a woman's right to choose and the balance that existed is for Congress to restore the protections of Roe v. Wade as federal law,"" the president said in remarks after the Supreme Court overturned the decision in Roe v. Wade. ""No executive action from the president can do that."" At the task force meeting, Cabinet heads will report on progress they've made on executing a July 8 directive the president issued to preserve abortion access. That executive order asked the Justice Department to do everything in its power to protect women seeking an abortion, including protecting their right to travel to another state and access approved abortion drugs. It also sought to ensure all women and girls experiencing the loss of a pregnancy can receive the medical care they need, no matter their state.The Justice Department filed suit against the state of Idaho on Tuesday, claiming a law that bans virtually all abortions runs afoul of a federal law guaranteeing treatment, including abortion, to women facing medical emergencies. The suit is the first legal challenge the Biden administration has mounted to a state law since Roe was reversed.Some Democrats were underwhelmed by Mr. Biden's initial response to the Supreme Court's decision, arguing the White House should have been more prepared. The president, while taking all actions the administrative believes it can do at a given point in time, has suggested the ball is in Congress' court. The House has approved legislation to protect abortion rights, but the Senate lacks the votes to follow suit.Meanwhile, both those who support abortion rights and those who oppose them have begun to take matters into their own hands at the state level. On Tuesday night, voters in deep-red Kansas overwhelmingly rejected a measure that would have nixed abortion access protections from the Kansas Constitution. ""Kansans stood up for fundamental rights today,"" tweeted Kansas' Democratic Gov. Laura Kelly. ""We rejected divisive legislation that jeopardized our economic future & put women's health care access at risk. Together, we'll continue to make incredible strides to make KS the best state in the nation to live freely & do business.""Sean Conlon contributed reporting. Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C.",Biden to sign executive order to support travel for abortions in latest move aimed at protecting access.
"U.S. President Joe Biden addresses the nation on the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. drone strike, in Washington, U.S. August 1, 2022. Jim Watson/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - President Joe Biden plans to sign a second executive order on Wednesday that asks his health department to consider permitting the use of Medicaid funds for patients who travel out-of-state for abortions.The order, like his first signed in July, is meant to address the recent Supreme Court decision to end the nationwide constitutional right to abortion. It is expected to have limited impact, as Republicans in U.S. states push a wave of laws restricting abortion, access to medication and funding for such services.The president's actions come a day after Kansas voters rejected one such effort, to remove abortion protections from the state's constitution. The vote was a resounding win for the abortion rights movement in the first statewide electoral test since the Supreme Court ruling. read more Register now for FREE unlimited access to Reuters.comLast month, Biden said the Supreme Court, which is weighted 6-3 with conservative judges, was ""out of control"" after ruling in June to overturn Roe v Wade, ending a half-century of protections for women's reproductive rights. His first order in early July directed the federal government's health department to expand access to medication abortion and ensure that women who travel for abortions are protected. read more The latest action builds on those measures. But like the first one it remains vague about how those goals can be achieved. It asks the Health and Human Services Department to consider using funds including Medicaid, the federal and state funded insurance program it oversees, to support low-income women traveling out-of-state for abortion services, a senior administration official said.It calls on Health and Human Services Secretary Xavier Becerra to consider inviting states to apply for Medicaid waivers when treating patients who cross state lines for reproductive health services, the official said, without giving additional details.The Hyde Amendment, a Congressional measure, states that Medicaid will not pay for an abortion unless the woman's life is in danger or the pregnancy resulted from rape or incest, making the effectiveness of the order uncertain.It also directs the department to ensure health-care providers comply with federal non-discrimination laws when offering such services and orders it to collect data to measure the impact of the ruling on maternal health, the official added.The president will sign the order at the first meeting of the interagency task force on reproductive healthcare access, which was formed in July.Senate Democrats rejected Biden's call to lift the chamber's ""filibuster"" rule requiring 60 of the 100 senators to agree on most legislation to allow them to pass a law establishing a national right to abortion.In the evenly divided Senate, U.S. Vice President Kamala Harris can cast a tie-breaking vote.Since then Biden has pivoted to urging voters to elect more Democrats to Congress in the Nov. 8 midterm elections, when Republicans are favored to win back a majority in the House of Representatives and perhaps also the Senate.Democrats hope the issue may help drive voters to the polls in November.Protecting abortion rights is a top issue for women Democrats, Reuters polling shows. More than 70% of Americans think the issue should be left to a woman and her doctor.On Tuesday, Biden's Justice Department sued Idaho to block a state law that it said imposes a ""near-absolute ban"" on abortion, marking its first legal challenge to state abortion laws since the Supreme Court ruling. read more Register now for FREE unlimited access to Reuters.comReporting by Nandita Bose and Jeff Mason in Washington; Editing by Scott Malone, Leslie Adler and Diane CraftOur Standards: The Thomson Reuters Trust Principles.",Biden's new abortion executive order could fund interstate trips.
"United Nations Secretary General Antonio Guterres speaks during the 2022 Review Conference of the Parties to the Treaty on the Non-Proliferation of Nuclear Weapons at the United Nations in New York City on August 1, 2022.Ed Jones | AFP | Getty ImagesWASHINGTON — United Nations Secretary-General Antonio Guterres urged governments on Wednesday to tax excessive oil and gas profits as the world grapples with an energy crisis triggered in part, by Rusisa's war in Ukraine.""It is immoral for oil and gas companies to be making record profits from this energy crisis on the backs of the poorest people and communities,"" Guterres said in a speech before the international forum.He added that the funds, which equate to $100 billion in the first quarter of this year should instead be used to support vulnerable communities.""This grotesque greed is punishing the poorest and most vulnerable people while destroying our only home,"" Guterres said, calling for governments to also address the mounting climate crisis.Guterres added that the consequences of the Kremlin's war have extended beyond Ukraine's borders and have exacerbated global food insecurity, rising energy costs and crippling debt around the world, but specifically in developing countries.""Many developing countries drowning in debt, without access to finance and struggling to recover from the COVID-19 pandemic could go over the brink, Guterres warned.""We are already seeing the warning signs of a wave of economic, social and political upheaval that would leave no country untouched,"" he added.This is breaking news. Please check back for updates.",UN Secretary General urges governments to tax 'immoral' oil and gas profits.
"People walk by a Taco Bell and Pizza Hut, subsidiaries of Yum! Brands, Inc. in Manhattan, New York City, U.S., February 7, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryCompaniesYum misses estimates as expenses riseLow-income consumers pulling back - CEOPizza Hut sales declineShares fall 1.3% to $120.60Aug 3 (Reuters) - Yum Brands Inc (YUM.N) said on Wednesday it would offer new items and promotional deals in the coming days as it seeks to reverse a slowdown in demand for its pizzas and fried chicken from low-income consumers.Americans are increasingly tightening their belts as household savings drop and prices of gas and everyday essentials rise, hitting corporate earnings.Retail giants Walmart Inc (WMT.N) and Best Buy Co Inc (BBY.N) have already lowered their earnings estimates, while McDonald's Corp is considering more discounts as consumers turn to cheaper items. read more Register now for FREE unlimited access to Reuters.comPeople are getting more cautious, with the pullback from low-income consumers getting more pronounced, Yum Chief Executive Officer David Gibbs said.Yum has brought back its Mexican pizza at Taco Bell and $5 macaroni and cheese bowls at KFC and is banking on lower-priced offers at Pizza Hut to attract customers.The company plans to double down on promotional offerings after its quarterly earnings missed estimates on increased costs of ingredients, labor and packaging material that pushed its overall expenses by 4%.Yum second-quarter adjusted earnings per share of $1.05 fell short of estimates of $1.09.The company's earnings come on the heels of better-than-expected profits from rivals McDonald's Corp and Starbucks Corp (SBUX.O), which managed to offset higher expenses through price increases. read more Yum reported quarterly same-store sales growth of 1%, largely in line with estimates, with Taco Bell posting a better-than-expected 8% increase to make up for declines at KFC and Pizza Hut.Pizza Hut sales faltered even as more than half of its U.S. restaurants adopted third-party delivery services at the end of the quarter to beef up their operations, up from 40% at the beginning of the quarter.Register now for FREE unlimited access to Reuters.comReporting by Praveen Paramasivam in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.",KFC parent doubles down on deals as consumers cut spending.
"People walk on Wall Street in front of the New York Stock Exchange (NYSE) in New York, U.S., February 6, 2018. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 3 (Reuters) - Wall Street’s most closely watched gauge of market anxiety shows expectations of choppy trading ahead despite a recent snapback in U.S. stocks, though institutional investors' low exposure to equities may help curb gyrations.The Cboe Volatility Index (.VIX), an options-based indicator that reflects demand for protection against drops in the stock market, recently stood at 23, following a sharp rally in stocks that has taken the S&P 500 index (.SPX) up 12% from its mid-June low on expectations that the Federal Reserve may be less hawkish than anticipated in its fight against inflation. read more VIX readings above 20 are generally associated with an elevated sense of investor anxiety about the near-term outlook for stocks, while readings north of 30 or 35 point to acute fear.Register now for FREE unlimited access to Reuters.comThe VIX is well above its long-term median of 17.7, signaling continued unease about the longer-term outlook for stocks. Still, it is down from its year high of almost 40 and has oscillated between 20 and 30 for six weeks, its longest time within that 10-point range in a year-and-a-half.VIX has slipped toward the year's lows but remains well above its long-term medianMeanwhile, the VVIX index (.VVIX) - a gauge of expected swings in the fear index, slumped to a three-year low earlier this week, signaling investors do not expect sharp swings in either direction from the VIX.""There is just less of a concern of an outlier kind of move in the market,"" said Chris Murphy, co-head of derivatives strategy at Susquehanna International Group.The lowered expectations for extreme volatility come as investors assess whether stocks can sustain a rally in which the S&P 500 in July notched its best one-month percentage gain since November 2020. The July rally followed stocks' worst first half of the year since 1970.San Francisco Fed President Mary Daly on Tuesday pushed back on expectations of a so-called dovish pivot from the Fed, saying that the central bank’s fight against inflation was ""nowhere near"" done, and data on U.S. employment on Friday and consumer prices next week could bolster the case for Fed hawkishness. read more Meanwhile, several Wall Street banks have cast a skeptical eye on the recent rebound in stocks and warned of more downside ahead.""We view this as a bear market rally,"" wrote Savita Subramanian, equity and quant strategist at BofA Global Research in a report, noting that such rebounds have occurred an average of 1.5 times per bear market since 1929. The bank has a year-end target of 3,600 on the S&P 500, about 14% below current levels.LOW EXPOSUREOne factor that could help dampen market volatility in coming months is limited exposure to stocks among institutional investors, who earlier this year raced to cut their stock allocations as the Fed ramped up expectations that it will fight inflation with market-bruising interest rate hikes.Despite the recent bounce, big investors' exposure to stocks remains low. Equity positioning for both discretionary and systematic investors remains in the 12th percentile of its range since January 2010, according to a July 29 note by Deutsche Bank analysts.""Institutional positioning in equities is at the low end of its historical range,"" said Anand Omprakash, head of derivatives and quantitative strategy at Elevation Securities. ""You have a situation where the catalyst for an explosive equity crash is not as prevalent as it might have been in the past.""Lighter positioning means investors are not exhibiting the same rush to load up on options insurance against a downside move in stocks, a factor that can moderate the VIX's rise even if stocks come in for another bout of weakness.The 10-day average daily trading volume in VIX options has slipped to about 360,000 contracts, the lowest since early January, according to a Reuters analysis.Lighter allocations to equities may also take the edge off potential selloffs, said Max Grinacoff, U.S. equity derivatives strategist at BNP Paribas. His firm has a year-end target of 4,400 on the S&P 500 - some 7% above current levels.""Because of how clean positioning has become through the year ... you are not having the impact from everyone running for the exit at once,"" he said.Reuters GraphicsRegister now for FREE unlimited access to Reuters.comReporting by Saqib Iqbal Ahmed in New York
Editing by Ira Iosebashvili and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Analysis: Wall Street's 'fear gauge' in limbo as big investors keep shunning stocks.
"U.S. August 3, 2022 / 12:11 PM / CBS/AP Conspiracy theorist Alex Jones said Wednesday that he now understands it was irresponsible of him to declare the Sandy Hook Elementary School massacre a hoax and that he now believes it was ""100% real,"" a day after the parents of a 6-year-old boy killed in the attack testified about the suffering, death threats and harassment they've endured because of what Jones has trumpeted on his media platforms.""It was ... especially since I've met the parents. It's 100% real,"" Jones testified at his trial to determine how much he owes for defaming the parents of a 6-year-old who was among the 20 students and six educators killed in the 2012 attack at the school in Newtown, Connecticut.But the parents who sued Jones said a day earlier that an apology wouldn't be enough and that the Infowars host needed to be held accountable for repeatedly spreading falsehoods about the attack. They are seeking at least $150 million. Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, July 28, 2022.  BRIANA SANCHEZ/POOL Closing arguments are expected to begin later Wednesday after more testimony from Jones, who has portrayed the lawsuit as an attack on his First Amendment rights. Jones is the only person testifying in defense of himself and his media company, Free Speech Systems. His attorney asked him if he now understands it was ""absolutely irresponsible"" to push the false claims that the massacre didn't happen and no one died.Jones said he does, but added, ""They (the media) won't let me take it back."" He also complained that he's been ""typecast as someone that runs around talking about Sandy Hook, makes money off Sandy Hook, is obsessed by Sandy Hook.""Jones' testimony came a day after Neil Heslin and Scarlett Lewis, whose son Jesse Lewis was killed in the attack, testified that Jones and the false hoax claims pushed by Jones and his Infowars website made their lives a ""living hell"" of death threats, online abuse and harassment.They led a day of charged testimony Tuesday that included the judge scolding the bombastic Jones for not being truthful with some of what he said under oath.In a gripping exchange, Lewis spoke directly to Jones, who was sitting about 10 feet away. Earlier that day, Jones was on his broadcast program telling his audience that Heslin is ""slow"" and being manipulated by bad people. ""I am a mother first and foremost and I know you are a father. My son existed,"" Lewis said to Jones. ""I am not deep state ... I know you know that ... And yet you're going to leave this courthouse and say it again on your show.""At one point, Lewis asked Jones: ""Do you think I'm an actor?""""No, I don't think you're an actor,"" Jones responded before the judge admonished him to be quiet until called to testify.Heslin and Lewis are among several Sandy Hook families who have filed several lawsuits alleging that the Sandy Hook hoax claims pushed by Jones have led to years of abuse by him and his followers.Heslin and Lewis both said they fear for their lives and have been confronted by strangers at home and on the street. Heslin said his home and car have been shot at. The jury heard a death threat sent via telephone message to another Sandy Hook family.""I can't even describe the last nine and a half years, the living hell that I and others have had to endure because of the recklessness and negligence of Alex Jones,"" Heslin said.Scarlett Lewis also described threatening emails that seemed to have uncovered deep details of her personal life. ""It's fear for your life,"" Scarlett Lewis said. ""You don't know what they were going to do.""Heslin said he didn't know if the Sandy Hook hoax conspiracy theory originated with Jones, but it was Jones who ""lit the match and started the fire"" with an online platform and broadcast that reached millions worldwide.""What was said about me and Sandy Hook itself resonates around the world,"" Heslin said. ""As time went on, I truly realized how dangerous it was.""Jones skipped Heslin's Tuesday morning testimony while he was on his show - a move Heslin dismissed as ""cowardly"" - but arrived in the courtroom for part of Scarlett Lewis' testimony. He was accompanied by several private security guards.""Today is very important to me and it's been a long time coming ... to face Alex Jones for what he said and did to me. To restore the honor and legacy of my son,"" Heslin said when Jones wasn't there.Heslin told the jury about holding his son with a bullet hole through his head, even describing the extent of the damage to his son's body. A key segment of the case is a 2017 Infowars broadcast that said Heslin didn't hold his son.The jury was shown a school picture of a smiling Jesse taken two weeks before he was killed. The parents didn't receive the photo until after the shooting. They described how Jesse was known for telling classmates to ""run!"" which likely saved lives. An apology from Jones wouldn't be good enough, the parents said.""Alex started this fight,"" Heslin said, ""and I'll finish this fight.""In 2017, Heslin went on television, he told CBS News, to directly address the Sandy Hook deniers. ""I lost my son. I buried my son. I held my son with a bullet hole through his head,"" he said.After which, the harassment only got worse, Heslin said.""I've had many death threats,"" Heslin told CBS News in 2018. ""People say, 'You should be the ones with a bullet hole in your head.'""Jones later took the stand and was initially combative with the judge, who had asked him to answer his own attorney's question. Jones testified he had long wanted to apologize to the plaintiffs.Later, the judge sent the jury out of the room and strongly scolded Jones for telling the jury he had complied with pretrial evidence gathering even though he didn't and that he is bankrupt, which has not been determined. The plaintiffs' attorneys were furious about Jones mentioning he is bankrupt, which they worry will taint the jury's decisions about damages. ""This is not your show,"" Judge Maya Guerra Gamble told Jones. ""Your beliefs do not make something true. You are under oath.""Last September, the judge admonished Jones in her default judgment over his failure to turn over documents requested by the Sandy Hook families. A court in Connecticut issued a similar default judgment against Jones for the same reasons in a separate lawsuit brought by other Sandy Hook parents.At stake in the trial is how much Jones will pay. The parents have asked the jury to award $150 million in compensation for defamation and intentional infliction of emotional distress. The jury will then consider whether Jones and his company will pay punitive damages.Jones has already tried to protect Free Speech Systems financially. The company filed for federal bankruptcy protection last week. Sandy Hook families have separately sued Jones over his financial claims, arguing that the company is trying to protect millions owned by Jones and his family through shell entities. In: alex jones Sandy Hook Elementary School Shooting","Alex Jones concedes Sandy Hook massacre was ""100% real"" as he testifies at defamation trial."
"Brothers of Italy party leader Giorgia Meloni arrives for a meeting at the Quirinale Palace in Rome, Italy January 29, 2021. REUTERS/Guglielmo Mangiapane/File PhotoRegister now for FREE unlimited access to Reuters.comROME, Aug 3 (Reuters) - Italy's parliament on Wednesday gave its final approval to a bill ratifying the accession of Finland and Sweden to the NATO alliance.The Senate voted by 202 to 13 in favour of the bill, a day after the lower house approved it by a large majority.The accession needs to be ratified by the parliaments of all 30 North Atlantic Treaty Organization members before Finland and Sweden can be protected by the NATO defence clause that states that an attack on one member is an attack against all. read more Register now for FREE unlimited access to Reuters.comThe lower house vote on Tuesday was welcomed by Giorgia Meloni, whose far-right Brothers of Italy party is seen as the front runner in the national election which will take place on Sept. 25.""In the face of Russian aggression against Ukraine, strengthening the European front of the Alliance is an important step that can act as a deterrent to new Russian threats,"" Meloni said in a statement.Meloni, leader of the most popular party in the conservative coalition, had supported Prime Minister Mario Draghi's decision to ship weapons to Ukraine, even though it was in opposition to his government. read more However, her two main allies, the League and Forza Italia, have been much more ambivalent, reflecting their historically close ties with Russian President Vladimir Putin.Register now for FREE unlimited access to Reuters.comReporting by Angelo Amante; Editing by Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.","Italy ratifies NATO membership for Finland, Sweden."
"Morsa Images | Digitalvision | Getty ImagesIn practice, that reduction can occur in a few ways: Employees may accept a smaller raise from their current employer as a tradeoff for working from home a few days a week, or take a new job at lower pay but with a greater opportunity to work remotely, according to Steven J. Davis, an economics professor at the University of Chicago Booth School of Business and a co-author of the study.The other co-authors of the recent academic paper include Jose Maria Barrero of the Instituto Tecnologico Autonomo de Mexico, Nicholas Bloom of Stanford University and Brent H. Meyer and Emil Mihaylov of the Federal Reserve Bank of Atlanta.'A nontrivial amount' of slowed wage growthPM Images | Iconica | Getty ImagesThe researchers found that employers' expansion of remote work opportunities results in a cumulative decline of 2 percentage points in wage growth over that two-year period — ""a nontrivial amount,"" according to Davis.It's the equivalent, for example, of getting a 5% raise instead of a 7% raise, he said. But it's not necessarily lost value for employees; they can think of remote work as a form of nonfinancial compensation, Davis added.""The opportunity to work from home adds to the amenity value of a job,"" he recently told CNBC. ""Just like working in a nicer office would make a job more desirable.""Workers seem to know what they want. They are extremely, extremely bullish on remote work.Julia Pollakchief economist at ZipRecruiterThat amenity value can come via being able to do a load of laundry or bake something in the oven during the workday — essentially, being productive in other parts of an employee's life in addition to work, according to Julia Pollak, chief economist at ZipRecruiter. Workers also save time commuting to the office, and that time savings has an associated value, she added.""That quality-of-life improvement also means they needed to be compensated less,"" Pollak has told CNBC.In addition, there may also be cost savings derived from remote work. Employees who drive can reduce their expenditures on gasoline, for example. And workers who can relocate to a less-costly geographic area or closer to family members to help save on child care costs, for example, may feel less financial pressure to ask for a raise, Pollak added.""Workers seem to know what they want,"" Pollak said. ""They are extremely, extremely bullish on remote work.""About 63% of job seekers say they'd prefer remote work — a number that has stayed remarkably stable throughout 2022, said Pollak, who cited monthly ZipRecruiter survey data.Remote work makes Fed's job a bit easierThis wage-capping dynamic is important relative to one aspect of inflation: the fear of a so-called ""wage-price spiral.""This economic theory suggest workers, faced with rapidly rising household prices, will ask their bosses for an income boost to defray the financial pain — which they have the bargaining power to do in the current red-job market. In turn, businesses raise the prices for their goods and services to offset higher labor costs, which in turn leads to more inflation, and more raises, and so on.Of course, factors other than historically large pay bumps are feeding into inflation, which is currently at its highest since November 1981. The war in Ukraine has caused prices for commodities such as oil to spike, and supply chains haven't fully recovered from pandemic-related issues, for example.But the rise of remote work, which has ""materially"" reduced wage growth pressures, also serves to alleviate some inflationary pressures, according to the paper. In fact, the dynamic shrinks the impact of the so-called ""wage-catchup effect"" on inflation by 54%, researchers estimate. (The wage-catchup effect is essentially the dynamic of workers asking for a raise to keep up with inflation.)This modestly eases the task of taming inflation without triggering a recession, according to researchers — an undertaking the Federal Reserve has begun in recent months. The central bank is raising interest rates, and therefore borrowing costs for consumers and businesses, in a bid to slow the economy and rein in prices.10'000 Hours | Digitalvision | Getty ImagesEmployers may be leveraging remote work to cap wage growth not just with existing employees, but also while recruiting, Davis said. A company based on San Francisco might try hiring a full-time remote worker in Boise, Idaho, for example, so it can pay a lower salary based on geography, Davis said.Of course, not everyone is able to work from home part- or full-time. While 65% of those with a bachelor's degree can telework, that's true for just 53% of those with some college education or less, according to the Pew Research Center. There's also an income divide, Pew found — 67% of upper-income employees can telework versus 53% of low-income workers.",The Fed is fighting inflation. So is remote work.
"Smoke rises above Ozon e-commerce firm's warehouse, which is on fire in Istrinsky District of the Moscow region, Russia August 3, 2022. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comMOSCOW, Aug 3 (Reuters) - At least one person was killed and 13 injured when a huge fire broke out at a warehouse north west of Moscow owned by e-commerce firm Ozon (OZON.O) on Wednesday, RIA quoted the emergency services as saying.Dozens of firefighters battled to douse the fire using helicopters and 100 tonnes of water as a large plume of dark smoke billowed from the roof of the bright blue warehouse.RIA reported that the emergency services were considering arson as the likeliest cause of the fire at the warehouse near the settlement of Istra.Register now for FREE unlimited access to Reuters.comOzon said all employees had been safely evacuated from the warehouse and that none had been injured. The fire broke out in a standalone block at its fulfilment centre, Ozon said, a site that holds and processes thousands of goods slated for delivery.The emergencies ministry said the fire had spread to an area of 35,000 square metres. A fire-pumping station, an Mi-8 helicopter, two Ka-32 helicopters, 150 firefighters and 40 other pieces of equipment were deployed to the scene, it said.Ozon said it had removed the goods in the warehouse from its online marketplace.""Customers will be refunded for lost orders,"" Ozon said in a statement. ""Sellers will receive compensation for damaged or lost goods.""Nasdaq-listed Ozon is one of Russia's largest e-commerce players. It was not immediately clear what value or number of goods were affected.Ozon's Moscow-listed depositary receipts were up 0.4% at 1349 GMT after earlier slipping to a near two-week low.Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.",One killed in huge blaze at retailer Ozon's warehouse near Moscow - RIA.
"Surface damage seen on Qatar Airways' airbus A350 parked at Qatar airways aircraft maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad Creidi/File PhotoRegister now for FREE unlimited access to Reuters.comPARIS, Aug 3 (Reuters) - Airbus (AIR.PA) has revoked its entire outstanding order from Qatar Airways for A350 jets, severing all new jetliner business with the Gulf carrier in a dramatic new twist to a dispute clouding World Cup preparations, two industry sources said.No comment was immediately available from Airbus or Qatar Airways.The two aviation titans have been waging a rare public battle for months over the scarred condition of more than 20 long-haul jets that the airline says could pose a risk to passengers and which Airbus insists are completely safe.Register now for FREE unlimited access to Reuters.comQatar Airways, which was the first airline to introduce the intercontinental jet to the skies in 2015, is suing Airbus for at least $1.4 billion after almost half its A350 fleet was grounded by Qatar's regulator over premature surface damage.It has refused to take delivery of more A350s until it receives a deeper explanation of damaged or missing patches of anti-lightning mesh left exposed by peeling paint. read more Backed by European regulators, Airbus has acknowledged quality problems on the jets but denied any safety risk from gaps in the protective sub-layer, saying there is ample backup.Until now, the dispute has had a piecemeal effect on the order book for Europe's biggest twin-engined jet as first Airbus, then Qatar Airways, terminated some individual jets.Now, however, Airbus has told the airline it is striking the rest of the A350 deal from its books, the sources said, asking not to be identified as discussions remain confidential. read more At end-June, the European planemaker had outstanding orders from Qatar Airways for 19 of the largest version of the jet, the 350-passenger A350-1000, worth at least $7 billion at catalogue prices or closer to $3 billion after typical industry discounts.Airbus' share were up 0.41% at 1401 GMT, having halved earlier gains.WORLD CUPThe sweeping new A350 cancellation comes six months after Airbus also revoked the whole contract for 50 smaller A321neo jets in retaliation for Qatar refusing to take A350 deliveries.The spillover to a different model was branded ""worrying"" by the head of a body representing global airlines, the International Air Transport Association. read more The latest move is likely to widen a rift between two of the flagship companies of close allies France and Qatar.Barring an elusive settlement, the dispute is already set for a rare corporate trial in London next June. read more It comes as the airline industry grapples with an uneven recovery from the COVID-19 pandemic and as Qatar Airways is preparing to handle the bulk of some 1.2 million visitors expected for the FIFA World Cup in November and December.Airbus has argued that the airline is using the dispute to bolster its finances and reduce its fleet of costly long-haul jets as its target long-haul market recovers sluggishly.Qatar Airways, which in June posted its first annual profit since 2017, maintains it needs more capacity for the World Cup, forcing it to lease planes and bring less efficient A380s out of retirement to plug a gap left by grounded A350s.The row centres on whether the A350's problems - including what appears to be damage to parts of the wings, tail and hull according to two jets seen by Reuters - stem from a cosmetic issue or, as the airline claims, a design defect. read more A Reuters investigation in November revealed that several other airlines had found surface damage since 2016, the second year of A350 operations, prompting Airbus to accelerate studies of an alternative mesh that also saves weight. read more .So far, however, none of the A350's other roughly three dozen operators has joined Qatar in voicing concerns over safety as a result of surface flaws, as they continue to fly the jet.Register now for FREE unlimited access to Reuters.comReporting by Tim Hepher; Additional reporting by Alexander Cornwell; editing by Jason Neely, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",EXCLUSIVE Airbus axes remaining A350 jet deal with Qatar Airways -sources.
"U.S. House of Representatives Speaker Nancy Pelosi talks with Taiwan Foreign Minister Joseph Wu before boarding a plane at Taipei Songshan Airport in Taipei, Taiwan August 3, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - China cannot prevent world leaders from traveling to Taiwan, U.S. House of Representatives Speaker Nancy Pelosi said on Wednesday after concluding a visit to the self-ruled island.""Sadly, Taiwan has been prevented from participating in global meetings, most recently the World Health Organization, because of objections by the Chinese Communist Party,"" Pelosi said in statement.""While they may prevent Taiwan from sending its leaders to global forums, they cannot prevent world leaders or anyone from traveling to Taiwan to pay respect to its flourishing Democracy, to highlight its many successes and to reaffirm our commitment to continued collaboration.""Register now for FREE unlimited access to Reuters.comReporting by Doina Chiacu and Rami Ayyub; Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.","China cannot prevent world leaders from traveling to Taiwan, Pelosi says."
"If you aren't up-to-date on your Covid vaccines or booster shots, Dr. Anthony Fauci has a stark warning for you: Get those doses now, or prepare for a harsh Covid fall and winter.""If they don't get vaccinated or they don't get boosted, they're going to get into trouble,"" Fauci, President Biden's chief medical adviser, told Los Angeles radio station KNX News 97.1's ""KNX In Depth"" on Tuesday.That applies to a clear majority of Americans. Nearly 228 million, or roughly 70%, of Americans were unvaccinated, hadn't completed their primary vaccine series or hadn't gotten their first booster dose as of July 21, according to the Kaiser Family Foundation.The uptake is particularly low for booster shots. All Americans age 5 and older are eligible for a booster five months after finishing their primary vaccine series, but only 48.4% of those eligible people have actually gotten boosted, according to Centers for Disease Control and Prevention data.Among adults 50 and over who are eligible for a second booster shot, only 30.9% have gotten it, the data said.That's a problem heading into the fall and winter. The U.S. could experience a major Covid surge with 100 million new infections and a wave of deaths in those upcoming months, White House Covid response coordinator Dr. Ashish Jha projected in May.Fauci called the country's vaccine and booster rates ""quite discouraging"" and pointed to one potential reason why people aren't up-to-date: They simply think they don't need the additional doses, because they fall outside of high-risk populations for Covid. Those populations include the elderly, those with underlying or immunocompromising conditions and fully unvaccinated people.""People say, 'Well the risk to me is low. So why get it?'"" Fauci said. The reason, Fauci explained, is that the longer the virus circulates, the more of a chance it gets to mutate into a new variant that could threaten even low-risk populations. In other words, if you get Covid and fully recover without much fuss, you might personally be fine — but you're actively extending the virus's lifespan and giving it a chance to adapt even further.Omicron's BA.5 subvariant, the country's currently dominant Covid strain, is already adept at partially evading protective antibodies triggered by vaccines, Fauci said. But that's no reason to avoid vaccine doses: Some protection against infection is better than no protection at all, and the vaccines still work exceptionally well at preventing severe illness, hospitalization and death.Fauci said booster shots targeting Covid variants like BA.5, which will enhance immunity against those particular strains, will likely be available next month. Get one when you're eligible, Fauci said — and in the meantime, don't wait to catch up on the doses you're currently missing.If you aren't worried about your own personal risk, do it for your ""communal responsibility,"" Fauci said.""If you want to get your arms around ... the outbreak, you want to get as many people in our community — and by community, I mean our nation and the world — vaccinated and boosted, so you don't give this virus such ample opportunity to really circulate,"" he said.Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:Dr. Fauci: BA.5-specific booster shots are the country's 'best guess' for dealing with Covid this fallOmicron-specific Covid vaccines could finally be here this fall—here's what you need to know","Dr. Fauci: If you aren't up-to-date on Covid vaccines and boosters, you’re ‘going to get into trouble’."
"Wages are rising — and yet not enough to keep up with the soaring cost of living.Although average hourly earnings are up 5.1% from a year ago, prices have been rising much faster. The Consumer Price Index, which measures the average change in prices for consumer goods and services, jumped a higher-than-expected 9.1% in June, the fastest pace in over four decades.To bridge the gap, more consumers are relying on credit cards to get by, which has helped propel total credit card debt to $890 billion.More from Personal Finance:What a recession could mean for youBest money moves after the Fed's interest rate hikesNearly half of all Americans are falling deeper in debtOverall, credit card balances rose 13% in the second quarter of 2022, notching the largest year-over-year increase in more than 20 years, according to a report from the Federal Reserve Bank of New York.Even so, balances remain slightly below their pre-pandemic levels, after sharp declines in the first year of the pandemic.An additional 233 million new credit accounts were opened in the quarter, the most since 2008.Consumers don't feel 'financially secure' for a recessionIn an effort to cool down the economy, in July the Federal Reserve hiked its target federal funds rate by 0.75 percentage points a second consecutive time.Amid fears of a recession and rising interest rates, more than half, or 56%, of consumers said they are already seeing their standard of living declining, according to a recent report from digital wealth manager Personal Capital.Even more, roughly 69%, think their income isn't keeping up with inflation and fewer than half said they feel ""financially secure enough"" for another recession, according to the survey, which polled over 2,000 adults in April.Americans now say they need to be making about $107,800 a year to feel ""financially healthy,"" roughly double the national average but down 13% in the past six months, the report found.""If everything is costing more, that may reset your expectations on what you need to feel financially healthy,"" said Paul Deer, a certified financial planner and vice president of advisory service at Personal Capital.""People are putting a higher priority on simply having a job and lowering their expectations,"" he added.How to feel 'financially healthy'Tetra Images | Tetra Images | Getty ImagesHow much money you need to earn to cover expenses and save for the future comes down to understanding your net worth and your goals, Deer said.Your net worth is essentially the sum of all of your assets, including cash, retirement accounts, college savings, house, cars, investment properties and valuables such as art and jewelry minus any liabilities, or long-term debt, such as a mortgage, student loans, revolving credit card balances and any other personal loans.""First and foremost, is your net worth growing or shrinking over time?"" If your net worth is in the red, you'll need to work on saving more and spending less. First and foremost, is your net worth growing or shrinking over time?Paul Deervice president at Personal CapitalFrom there, consider the milestones you want to achieve going forward, Deer said, whether that's retiring, buying a home or paying for your child or grandchild's education.""Laying those out can really help provide clarity over what you should be prioritizing today.""Most people agree that they need to cut costs to build up their savings, and yet reports show consumers haven't pulled back on food, entertainment or travel.Meanwhile, as long as consumers keep spending, there will be continued upward pressure on prices.  Subscribe to CNBC on YouTube.","Credit card balances jump 13%, highest leap in over 20 years, as inflation outpaces wage growth."
"The logo of Danish multinational pharmaceutical company Novo Nordisk is pictured on the facade of a production plant in Chartres, north-central France, April 21, 2016. REUTERS/Guillaume Souvant/File PhotoRegister now for FREE unlimited access to Reuters.comCOPENHAGEN, Aug 3 (Reuters) - Danish drugmaker Novo Nordisk (NOVOb.CO) on Wednesday lifted its sales and operating profit forecasts for the year on the back of strong first-half earnings, but its shares fell as much as 10% after the announcement.Novo Nordisk now expects sales growth of 12-16% at constant exchange rates, up from a previous estimate of 10-14%. It sees operating profit up 11-15%, versus an earlier estimate of 9-13%.Shares in Novo traded down 9.4% at 1507 GMT.Register now for FREE unlimited access to Reuters.com""It could be lower than expected sales of Wegovy, which disappointed,"" Sydbank analyst Soren Lontoft told Reuters, referring to Novo's new obesity drug, which has faced supply issues since its launch in the United States last year.Sales of Wegovy declined to 1.2 billion Danish crowns ($163.27 million) in the second quarter from 1.4 billion in the first quarter. Overall, sales of obesity drugs grew 83% in the second quarter compared to the same period last year.The company also said it expected to make all dose strengths of Wegovy available in the United States ""towards the end of 2022"".""It is perhaps a tightening of the rhetoric compared to Q1, where they said 'in the second half of the year',"" Lontoft said, but added the overall results from Novo were ""really strong"".Novo reported second-quarter operating profit of 18.4 billion Danish crowns, just above the 18.3 billion forecast by analysts, according to Refinitiv data. The company had initially planned to announce results on Thursday.""We are very pleased with the sales growth in the first half of 2022. The growth is driven by increasing demand for GLP-1 based diabetes treatments, especially Ozempic,"" Chief Executive Lars Fruergaard Jorgensen said in a statement.($1 = 7.3474 Danish crowns)Register now for FREE unlimited access to Reuters.comReporting by Nikolaj Skydsgaard
Editing by David Goodman, Mark Potter and David EvansOur Standards: The Thomson Reuters Trust Principles.","Novo Nordisk raises 2022 outlook, but shares fall."
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesPelosi tells President Tsai ""we will not abandon Taiwan""China steps up military activity around TaiwanTaiwan's military increases alertness levelChina summoned U.S. ambassador in BeijingTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi left Taiwan on Wednesday after pledging solidarity and hailing its democracy, leaving a trail of Chinese anger over her brief visit to the self-ruled island that Beijing claims as its own.China demonstrated its outrage over the highest-level U.S. visit to the island in 25 years with a burst of military activity in surrounding waters, summoning the U.S. ambassador in Beijing and halting several agricultural imports from Taiwan.Some of China's planned military exercises were to take place within Taiwan's 12 nautical mile sea and air territory, according to Taiwan's defence ministry, an unprecedented move a senior defence official described to reporters as ""amounting to a sea and air blockade of Taiwan"".Register now for FREE unlimited access to Reuters.comTaiwan scrambled jets on Wednesday to warn away 27 Chinese aircraft in its air defence zone, the island's defence ministry said, adding that 22 of them crossed the median line separating the island from China. read more Pelosi arrived with a congressional delegation on her unannounced but closely watched visit late on Tuesday, defying China's repeated warnings, in a trip that she said demonstrated unwavering U.S. commitment to Taiwan's democracy. read more ""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,"" Pelosi told Taiwan President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more ""Now, more than ever, America's solidarity with Taiwan is crucial, and that's the message we are bringing here today,"" Pelosi said during her roughly 19-hour visit.A long-time China critic, especially on human rights, Pelosi met with a former Tiananmen activist, a Hong Kong bookseller who had been detained by China and a Taiwanese activist recently released by China.The last U.S. House speaker to go to Taiwan was Newt Gingrich in 1997. But Pelosi's visit comes amid sharply deteriorating Sino-U.S. relations, and during the past quarter century China has emerged as a far more powerful economic, military and geopolitical force.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.In retaliation, China's customs department announced a suspension of imports of citrus fruits and certain fish - chilled white striped hairtail and frozen horse mackerel - from Taiwan, while its commerce ministry banned export of natural sand to Taiwan.While there was little sign of protest against U.S. targets or consumer goods, there was a significant police presence outside the U.S. consulate in Shanghai and what appeared to be more security than usual outside the embassy in Beijing.Fury on the mainland over Pelosi's defiance of Beijing was evident all over Chinese social media, with one blogger railing: ""this old she-devil, she actually dares to come!"" Pelosi is 82. read more U.S. House of Representatives Speaker Nancy Pelosi talks with Taiwan Foreign Minister Joseph Wu before boarding a plane at Taipei Songshan Airport in Taipei, Taiwan August 3, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS MILITARY DRILLSShortly after Pelosi's arrival, China's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of the island, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Before Pelosi's arrival, Chinese warplanes buzzed the line dividing the Taiwan Strait. The Chinese military said it was on high alert and would launch ""targeted military operations"" in response to Pelosi's visit.White House national security spokesperson John Kirby said after Pelosi's arrival in Taiwan that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.U.S. Secretary of State Antony Blinken discussed the potential for Pelosi's visit with counterpart Wang Yi during a G20 meeting in Bali last month, and said any such trip would be entirely Pelosi's decision and independent of the U.S. government, a senior U.S. official said on Wednesday. read more 'CHINA'S AMBITION'The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Russian Foreign Minister Lavrov said during a visit to Myanmar that Pelosi's trip was a deliberate U.S. attempt to irritate China. read more North Korea's foreign ministry criticised Pelosi's visit as U.S. ""imprudent interference"" in China's internal affairs, the official KCNA said. read more Taiwan's military increased its alertness level. Its defence ministry said China was attempting to threaten key ports and cities with drills in the surrounding waters.""The so-called drill areas are falling within the busiest international channels in the Indo-Pacific region,"" a senior Taiwan official familiar with its security planning told Reuters.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" the official said.China's foreign ministry said it has not seen its military drills around Taiwan causing any freedom-of-navigation issues.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Writing by Tony Munroe; Editing by Simon Cameron-Moore, Stephen Coates and Will DunhamOur Standards: The Thomson Reuters Trust Principles.","Pelosi offers praise, support for Taiwan during visit that angered China."
"U.S. August 3, 2022 / 10:54 AM / CBS News 1st Black Air Force Academy head on diversity First Black Air Force Academy Superintendent: Lack of diversity ""will weaken us"" 07:13 U.S. Marine Corps Lt. Gen. Michael E. Langley has been confirmed as a general, making history as the first Black four-star Marine general in 246 years, the Marine Corps announced this week.Congress confirmed Langley's promotion on Monday. He will become commander of U.S Africa Command in Stuttgart, Germany, and will command all U.S. military forces in Africa, according to the Marines.Langley, who is from Shreveport, Louisiana, has served in Okinawa, Japan, and Afghanistan and commanded Marines at every level – from platoon to regiment.  U.S. Marine Corps Gen. Michael E. Langley, the new commander of U.S. Africa Command, made history as the first Black four-star Marine general in 246 years, the Marine Corps announced this week. Bill O'Leary/The Washington Post via Getty Images In June, Secretary of Defense Lloyd J. Austin III announced that President Biden nominated Langley to be appointed general.  Langley grew up in a military family. His father, retired U.S. Air Force Master Sergeant Willie C. Langley, served in the Air Force for 25 years, Langley said at a confirmation hearing in June. ""As many nominees have said in testimony before me, military families form the bedrock upon which our Joint Force readiness stands. My family is no different,"" he said.His stepmother, Ola Langley, whom Langley said he ""affectionally refer[s] to as Momma."" was a U.S. Post Office supervisor.  Langley graduated from the University of Texas at Arlington. His formal military education includes U.S. Marine Corps Amphibious Warfare School and College of Naval Command and Staff. He also holds multiple advanced degrees, including a master's degree in National Security Strategic Studies from the U.S. Naval War College and Strategic Studies from the U.S. Army War College.Austin, who is a retired four-star Army General and the nation's first Black secretary of defense, spoke about the importance of diversity in the military earlier this year. ""Diversity is really important to us. The … military has led the way in a lot of cases,"" he said at Black History Month roundtable. ""With respect to diversity, I've got to make sure that we continue to make strides. And I equate diversity with being invited to the dance. Inclusion is actually being asked to dance."" Lt. General Richard Clark, who became the first Black superintendent of the Air Force in 2020, spoke about his commitment to diversity and inclusion in the military on CBS News earlier this year. ""If we don't start really opening up the entire population for us to draw talent from – and there's talent there – we limit ourselves, it will weaken us,"" he said. ""And it's not just the military it's across all segments of society.""""We in the military have traditionally been fairly diverse, very diverse, but we have some work to do there,"" Clark said.  Caitlin O'Kane Caitlin O'Kane is a digital content producer covering trending stories for CBS News and its good news brand, The Uplift. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Michael E. Langley named Marine Corps' first Black four-star general in its 246-year history.
"Conservative leadership candidate Liz Truss speaks during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 3 (Reuters) - British Foreign Secretary Liz Truss on Wednesday urged China to de-escalate tensions with the United States following U.S. House Speaker Nancy Pelosi's visit to Taiwan.“I do not support China’s inflammatory language on this issue. It’s perfectly reasonable what is taking place and I urge China to de-escalate,” Truss, who is the leading candidate to become British prime minister next month, told reporters.(This story fixes typo in headline)Register now for FREE unlimited access to Reuters.comReporting by Farouq Suleiman; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.",UK's Truss urges China to de-escalate tension with U.S.
"A Wall Street sign is pictured outside the New York Stock Exchange in New York, October 28, 2013. REUTERS/Carlo Allegri/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Authentication software firm Ping Identity (PING.N) said on Wednesday Thoma Bravo would take it private for $2.4 billion, joining the firms in the cybersecurity space acquired by the buyout firm after the pandemic drove up demand for the sector.Shares of Ping Identity, which offers identity solutions and services to prevent fraud and protect passwords, surged 60% in trading before the opening bell on the New York Stock Exchange.Thoma Bravo, which has more than $103 billion in assets under management, will offer $28.50 for each share of Ping Identity, representing a premium of 63% to the company's last closing price. The offer has an equity value of $2.4 billion, according to a Reuters calculation.Register now for FREE unlimited access to Reuters.comThe enterprise value of the deal is $2.8 billion.Vista Equity Partners is the company's largest shareholder with a nearly 10% stake, according to Refinitiv. Vista had acquired Ping Identity in 2016 and then taken it public three years later, when the firm was valued at about $1.16 billion.The PE firm has agreed to vote its shares in favor of the transaction, Ping Identity said on Wednesday.Separately, Ping Identity reported second quarter revenue of $72 million below estimates of $73.2 million, according to IBES data from Refinitiv.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu and Akash Sriram in Bengaluru; Editing by Aditya Soni and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.",Thoma Bravo to take Ping Identity private for $2.4 bln.
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 3, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryCompaniesNon-manufacturing activity data due at 10 a.m. ETPayPal rises after bumping annual profit outlookAirbnb dips after bookings disappointIndexes up: Dow 0.77%, S&P 0.83%, Nasdaq 1.24%Aug 3 (Reuters) - U.S. stock indexes rose on Wednesday on strong results from PayPal and CVS Health, with investors awaiting services activity data for clues on the health of the economy struggling with soaring inflation and tightening financial conditions.Shares of PayPal Holdings (PYPL.O) jumped 11.6% after the fintech company raised its annual profit guidance and said activist investor Elliott Management has an over $2 billion stake. read more CVS Health Corp (CVS.N) gained 4.7% as the largest U.S. pharmacy chain raised its annual profit forecast after posting strong quarterly results. read more Register now for FREE unlimited access to Reuters.comA largely upbeat second-quarter earnings season has helped markets bounce back in a year roiled by the Ukraine war, fears of a looming recession and an aggressive rise in borrowing costs.The benchmark S&P 500 index (.SPX) and tech-heavy Nasdaq (.IXIC) are up 13.3% and 18.2%, respectively, from the lows hit in mid-June.The Institute of Supply Management's data, due at 10 a.m. ET, is expected to show non-manufacturing activity slipped to 53.5 last month from 55.3 in June, the fourth straight monthly decline. The services sector accounts for more than two-thirds of U.S. economic activity.""What we want is Goldilocks number, big numbers right now are bad, whether they're big and good, or big and bad. What we actually want is pretty small increases or small decreases,"" said Jason Blackwell, chief investment strategist at The Colony Group.""That tells us that the Fed is working, (but) not too hard (to) take us into a deeper recession.""Meanwhile, St. Louis Federal Reserve President James Bullard said on Wednesday the U.S. central bank will be steadfast in raising interest rates to bring inflation running at four-decade highs back to its 2% target. read more Wall Street started August on a sour note as factory activity in the United States, China and Eurozone weakened in July. read more At 9:40 a.m. ET, the Dow Jones Industrial Average (.DJI) was up 250.32 points, or 0.77%, at 32,646.49, the S&P 500 (.SPX) was up 34.03 points, or 0.83%, at 4,125.22, and the Nasdaq Composite (.IXIC) was up 152.62 points, or 1.24%, at 12,501.38.Moderna Inc (MRNA.O) climbed 8.7% after the vaccine maker announced a $3 billion share buyback plan. read more Regeneron Pharmaceuticals (REGN.O) added 5.3% after it beat quarterly revenue estimates, while coffee chain Starbucks Corp (SBUX.O) rose 1% on upbeat quarterly profit. read more Advanced Micro Devices Inc (AMD.O) fell 2.3% after the chip designer forecast downbeat third-quarter revenue. read more Advancing issues outnumbered decliners by a 2.71-to-1 ratio on the NYSE and by a 2.62-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and 30 new lows, while the Nasdaq recorded 27 new highs and 10 new lows.(This story corrects syntax in headline)Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.",Strong earnings lift Wall Street ahead of services activity data.
"The U.S. Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011. REUTERS/Jonathan Ernst/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Wednesday published a staff bulletin that seeks to clarify how broker dealers and investment advisors must address conflicts of interest when providing advice and recommendations to investors.The guidance aims to spell out expectations amid industry ""misconceptions,"" an SEC official told reporters, adding that while all financial firms and professionals have some conflict, the ""nature and expense"" of those conflicts can vary.The guidance specifically clarifies brokers' and advisors' obligations around disclosing conflicts of interest under the SEC's long-standing Investment Advisor Fiduciary Standard and its Regulation Best Interest rule, passed in 2019.Register now for FREE unlimited access to Reuters.com""The steps firms take to address conflicts of interest need to be tailored to their particular business model,"" an SEC official said.""They need to be designed to prevent those conflicts of interests that are present at that particular firm from causing the firm and its financial professionals to place their own interests ahead of the retail investors' interests and thereby to violate their best interests obligation.""Firms are also expected to identify areas in their particular business where their own interests are in conflict with their customers and to think carefully about how those conflicts, if not adequately addressed, might negatively affect retail investors. Firms must determine what steps they must take to address those conflicts.Wednesday's bulletin is designed to help firms with this process, recognizing that there is no one-size-fits-all approach.Specifically, the guidance, which is the second in a series, identifies some common sources of conflicts of interest for broker dealers, investment advisors, dual registered firms and their financial professional by outlining factors firms can consider in determining whether a particular conflict needs to be vacated, as well as possible approaches to conflict mitigation when that is necessary.The Republican-led SEC finalized the Regulation Best Interest rule in 2019 in what was widely seen as a win for Wall Street after its 10-year battle over regulation of the investment advice industry. It fought off a more onerous proposal by the Department of Labor.Consumer groups criticized the Regulation Best Interest rule for being too vague in its definition of ""best interest"" while not addressing all conflicts, including the higher payments that brokers receive for selling products that are more expensive to trade.Wednesday's measure under the current Democratic-led SEC seeks to plug some of these gaps, analysts said.Register now for FREE unlimited access to Reuters.comReporting by Katanga Johnson in Washington; Editing by Alison Williams and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.Katanga JohnsonThomson ReutersWashington-based reporter covering U.S. regulation at the Securities and Exchange Commission and the Consumer Financial Protection Bureau, previously in Ecuador, alumnus of Morehouse College and Northwestern University’s Medill School of Journalism.",U.S. SEC addresses Wall Street 'misconceptions' about conflicts of interest.
"MoneyWatch August 3, 2022 / 10:10 AM / AP What's behind the crash of cryptocurrency Market fraud and skepticism fuel crash of cryptocurrency 05:26 A bipartisan group of senators on Wednesday proposed a bill to regulate cryptocurrencies, the latest attempt by Congress to formulate ideas on how to oversee a multibillion-dollar industry that has been racked by collapsing prices and lenders halting operations.The regulations offered by Senate Agriculture Committee chair Debbie Stabenow and top Republican member John Boozman would authorize the Commodities Futures Trading Commission to be the default regulator for cryptocurrencies. That would be in contrast with bills proposed by other members of Congress and consumer advocates, who have suggested giving the authority to the Securities and Exchange Commission. This year, crypto investors have seen prices plunge and companies crater with fortunes and jobs disappearing overnight, and some firms have been accused by federal regulators of running an illegal securities exchange. Bitcoin, the largest digital asset, trades at a fraction of its all-time high, down from more than $68,000 in November 2021 to about $23,000 on Wednesday.  Industry leaders have referred to this period as a ""crypto winter,"" and lawmakers have been desperate to implement stringent oversight.The bill by Stabenow, a Democrat from Michigan, and Boozman, of Arkansas, would require all cryptocurrency platforms — including traders, dealers, brokers and sites that hold crypto for customers — to register with the CFTC. The CFTC is historically an underfunded and much smaller regulator than the SEC, which has armies of investigators to look at potential wrongdoing. The bill attempts to alleviate these issues by imposing on the crypto industry user fees, which in turn would fund more robust supervision of the industry by the CFTC. ""Our bill will empower the CFTC with exclusive jurisdiction over the digital commodities spot market, which will lead to more safeguards for consumers, market integrity and innovation in the digital commodities space,"" Boozman said in a statement. Don't fall for these crypto and NFT scams 05:12 Sens. Cory Booker, D-N.J., and John Thune, R-S.D., are co-sponsors of the bill.""It's critical that the (CFTC) has the proper tools to regulate this growing market,"" Thune said. Sen. Pat Toomey, R-Pa., in April introduced legislation, called the Stablecoin TRUST Act, that would create a framework to regulate stablecoins, which have seen massive losses this year. Stablecoins are a type of cryptocurrency pegged to a specific value, usually the U.S. dollar, another currency or gold.Additionally, in June, Sens. Kirsten Gillibrand, D-N.Y., and Cynthia Lummis, R-Wyo., proposed a wide-ranging bill, called the Responsible Financial Innovation Act. That bill proposed legal definitions of digital assets and virtual currencies; would require the IRS to adopt guidance on merchant acceptance of digital assets and charitable contributions; and would make a distinction between digital assets that are commodities and those that are securities, which has not been done.Along with the Toomey legislation and the Lummis-Gillibrand legislation, a proposal is being worked out in the House Financial Services Committee, though those negotiations have stalled. Committee chair Maxine Waters, D-Calif., said last month that while she, top Republican member Patrick McHenry of North Carolina and Treasury Secretary Janet Yellen had made considerable progress toward an agreement on the legislation, ""we are unfortunately not there yet, and will therefore continue our negotiations over the August recess.""President Joe Biden's working group on financial markets last November issued a report calling on Congress to pass legislation that would regulate stablecoins, and Biden earlier this year issued an executive order calling on a variety of agencies to look at ways to regulate digital assets. In: Pat Toomey john thune United States Congress United States Senate Joe Biden Monkeypox Agriculture Cryptocurrency Kirsten Gillibrand Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Lawmakers propose rules to regulate battered cryptocurrencies.
"""Stranger Things"" cinematographer Caleb Heymann knew he was stepping into a big job when he signed on for season four. In fact, his schedule was as packed as the season's super-sized episodes.""It was a solid 11 months where I was averaging about 90 hours of work a week, mostly on set,"" he tells CNBC Make It. ""They're extraordinarily long hours that don't leave a lot of time for any sort of work-life balance."" Heymann shot seven of the season's nine episodes. To get through the long days, he had to make sure to take care of his body. He stuck to an exercise routine, waking up before 4 a.m. three or four days a week to get a workout in, ""even if I could only squeeze in 25 minutes.""It was really important to keep my body healthy. Maintaining focus and energy levels over a long stretch like that, it's super grueling.Caleb HeymannCinematographer, ""Stranger Things""""It was really important to keep my body healthy,"" he says. ""Maintaining focus and energy levels over a long stretch like that, it's super grueling.""On top of staying fit, Heymann avoided eating too much from the on-set catering, and instead would meal prep for the week every Sunday. He would arrive to set each day carrying not only his camera equipment, but also a cooler containing his protein-packed salads.Cinematographer Caleb Heymann (right) on the set of 'Stranger Things' season four.Caleb Heymann""You want to be in control of the fuel that you're putting into your body,"" he says. ""Even on a big production like ['Stranger Things'], the quality of ingredients and catering might not be the best. So taking control over what you're eating and what's going to be fueling you becomes very important to your stamina and your mental vitality.""After leaving set, Heymann made an effort to not bring his work home with him. Though there was always more prep to be done for the next day's shoot, he made time to relax and ""switch off"" his mind with a glass of wine and some reading.But Heymann says that the fan response to the season — which last month became the second Netflix title to cross the billion-hour viewing mark — has made the whole experience worthwhile.""It's been absolutely beyond anything that I could have ever imagined and made all those months of 90-plus hour weeks very much worth it,"" he says. ""Seeing the reach of the show … it's really gratifying and humbling."" Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: From 'Game of Thrones' to 'She-Hulk', here are 8 of the biggest shows streaming in August",How 'Stranger Things' cinematographer survived 90-hour weeks while shooting season four: 'It's super grueling'.
"British Foreign Secretary and Conservative leadership candidate Liz Truss speaks at the Conservative Party leadership campaign event at Biggin Hill Airport, Westerham, Britain July 30, 2022. REUTERS/Henry Nicholls/PoolRegister now for FREE unlimited access to Reuters.comLONDON, Aug 3 (Reuters) - Foreign Secretary Liz Truss is leading the race to become Britain's next prime minister, with two opinion polls putting her well ahead of former finance minister Rishi Sunak. read more Below are details of the policies has Truss proposed during the leadership contest.TAX- Hold an emergency budget and review of government spendingRegister now for FREE unlimited access to Reuters.com- Reverse a 1.25 percentage point rise in payroll tax known as National Insurance. The rise was introduced by Sunak in April to help pay for the health and social care system. read more - Cancel a planned increase in corporation tax. The tax is due to rise from 19% to 25% from 2023 under plans announced by Sunak in March 2021- Apply a temporary moratorium on environmental and social levies added to consumers' electricity bills- Not impose any new levies on unhealthy food and ditch plans to restrict multi-buy deals on food and drink high in fat, salt, or sugar read more - Review the way families are treated by tax authorities, with a view to easing the tax burden when family members are not working in order to care for children or relativesECONOMY AND DOMESTIC- Review the Bank of England's mandate without compromising its independence read more - Create low regulation ""investment zones""- Introduce minimum service levels on critical national infrastructure and raise ballot thresholds to limit strike action read more - Reform mortgage assessments to help those currently renting gain access to the housing market- Scrap home-building targets, incentivise local authorities to build more houses and speed up the planning system- Review how Britain will reach its 2050 net zero target to see how it can be done in a more ""market-friendly"" way- No new Scottish independence referendum.- A six point education reform package, including measures to cut childcare costs- Temporarily expand seasonal workers scheme to ensure farmers have access to labour- Tackle violence against women and girls including criminalising street harassmentINTERNATIONAL- Increase defence spending to 3% of GDP by 2030- Make Ukraine's President Volodymr Zelenskiy the first foreign leader she calls as prime minister, and work with G7 allies to provide more lethal and humanitarian aid for Kyiv- Commit Britain to a lead role in a “new Marshall Plan” for Ukraine- Update Britain's foreign policy to include new focus on China and Russia- Seek a trade deal among Commonwealth members to act as a bulwark against China- Scrap all remaining European Union laws that still apply in Britain by 2023, including Solvency II regulation and seek regulatory divergence from the EU read more - Pursue more third country immigration processing partnership schemes, similar to the existing agreement to send some migrants to Rwanda.Register now for FREE unlimited access to Reuters.comReporting by William James and Kylie MacLellan, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.",Factbox: What will Liz Truss do if she becomes UK prime minister?.
"St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling.The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to battle the highest inflation levels since the early 1980s.""I think we'll probably have to be higher for longer in order to get the evidence that we need to see that inflation is actually turning around on all dimensions and in a convincing way coming lower, not just a tick lower here and there,"" Bullard said during a live ""Squawk Box"" interview on CNBC.That message of continued rate hikes is consistent with other Fed speakers this week, including regional presidents Loretta Mester of Cleveland, Charles Evans of Chicago and Mary Daly of San Francisco. Each said Tuesday that the inflation fight is far from over and more monetary policy tightening will be needed.Both Bullard and Mester are voting members this year on the rate-setting Federal Open Market Committee. The group last week approved a second consecutive 0.75 percentage point increase to the Fed's benchmark borrowing rate.If Bullard has his way, the rate will continue rising to a range of 3.75%-4% by the end of the year. After starting 2022 near zero, the rate has now come up to a range of 2.25%-2.5%.Consumer price inflation is running at a 12-month rate of 9.1%, its highest since November 1981. Even throwing out the highs and lows of inflation, as the Dallas Fed does with its ""trimmed mean"" estimate, inflation is running at 4.3%.""We're going to have to see convincing evidence across the board, headline and other measures of core inflation, all coming down convincingly before we'll be able to feel like we're doing our job,"" Bullard said.The rate hikes come at a time of slowing growth in the U.S., which has seen consecutive quarters of negative GDP readings, a common definition of recession. However, Bullard said he doesn't think the economy is really in recession.""We're not in a recession right now. We do have these two quarters of negative GDP growth. To some extent, a recession is in the eyes of the beholder,"" he said. ""With all the job growth in the first half of the year, it's hard to say there's a recession. With a flat unemployment rate at 3.6%, it's hard to say there's a recession.""The second half of the year should see reasonably strong growth, though job gains probably will slow to their longer-run trend, he added. July's nonfarm payroll growth is expected to be 258,000, according to Dow Jones estimates.Even with the slowing trend, markets are pricing in another half percentage point rate hike from the Fed in September, though the chances of a third consecutive 0.75 percentage point move are rising. The market then expects future increases in November and December, taking the benchmark fed funds rate to a range of 3.25%-3.5% by the end of the year, below Bullard's target.""We're going to follow the data very carefully, and I think we'll get it right,"" Bullard said.",Fed's Bullard sees more interest rate hikes ahead and no U.S. recession.
"The Amil Participacoes SA's headquarters is pictured in Rio de Janeiro on October 8, 2012 just before UnitedHealth Group Inc bought it. REUTERS/Ricardo Moraes/File PhotoRegister now for FREE unlimited access to Reuters.comSAO PAULO, Aug 3 (Reuters) - UnitedHealth Group Inc (UNH.N), the top U.S. healthcare company by market capitalization, is struggling to sell Brazilian unit Amil due to antitrust issues and growing losses from individual health plans, according to four people with knowledge of the matter.After studying ways to divest Amil 10 years after acquiring it, UnitedHealth decided last month to suspend the sale process, the sources said, asking for anonymity because the discussions were private.UnitedHealth had agreed to pay acquirers for Amil's loss-making units and lose money on the sale of the whole company, but did not receive an attractive proposal, the sources added.Register now for FREE unlimited access to Reuters.comThe latest talks involved Brazilian medical labs company Diagnosticos de America SA, or Dasa (DASA3.SA), and the insurance unit of Banco Bradesco SA (BBDC4.SA). As Dasa shares fell 44% this year, the idea of a deal paid partially in shares became much less viable, the people added.UnitedHealth declined to comment on details of its Brazilian operations or negotiations.""UHG is a long term investor in Brazil, first entering the market in 2012, and UHG intends to continue to serve the Brazilian health care market,"" UnitedHealth spokesman Matthew Stearns said in an e-mailed statement.Private equity funds also looked at the deal, but decided not to bid due to its complexity, a fifth source said.Dasa and Bradesco proposed delayed payment while keeping UnitedHealth as minority shareholder, which the U.S. company rejected, the sources added.Dasa and Bradesco declined to comment. BTG Pactual, which is handling the mandate, did not reply to a request for comment.UnitedHealth had accepted to lose money on the sale, as it had become clear that it would not fetch the $5 billion it paid for the company 10 years ago, according to the people. The value of the Brazil business is now estimated at $1 billion, said two of the sources.UnitedHealth has not booked any loss related to Amil. In January, the company changed how it reports international businesses. Amil is now part of the employer & individual health plan division, which includes operations in the United States.Some of Amil's largest rivals, such as hospital chain Rede D'Or Sao Luiz SA (RDOR3.SA), had looked into a potential acquisition in January, sources said, but closed other deals after that, creating potential antitrust restrictions.Rede D'Or announced in February acquisition of insurer SulAmerica SA (SULA11.SA)..Rede D'Or did not immediately respond to requests for comment.REGULATORY HEADACHESUnitedHealth Group CEO Andrew Witty announced the decision to sell Amil soon after taking the helm last year.UnitedHealth has 3.4 million health insurance beneficiaries in Brazil, 2.2 million clients of dental benefits, and owns and manages 31 hospitals and 82 clinics. The Brazilian hospitals and part of the insurance portfolio are profitable, sources said.Gaps in the public healthcare system have led a growing number of Brazilians to rely on private health insurance, which now serves around 49 million people.However, decisions by Brazilian healthcare regulator ANS have created headaches for the segment since UnitedHealth acquired Amil. Its portfolio of 340,000 individual healthcare plans is subject to the regulator's strict pricing caps, while coverage has expanded due to rulings by courts and regulators.Many insurers in Brazil stopped selling individual health plans due to mounting losses, but Amil cannot cancel its existing portfolio.Under one proposal, UnitedHealth offered to pay an investment firm $550 million to take over the individual insurance portfolio, but regulators blocked the deal. read more Meanwhile, UnitedHealth has almost tripled its global revenue since acquiring Amil in 2012, to $290 billion last year, dwarfing its investment in Brazil. In addition to health plans, UnitedHealth runs pharmacy services, data analytics and medical practices.($1 = 5.4039 reais)Register now for FREE unlimited access to Reuters.comReporting by Tatiana Bautzer
Editing by Caroline Humer, Brad Haynes and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",EXCLUSIVE UnitedHealth struggling to sell Brazilian unit Amil.
"Fg Trade | E+ | Getty ImagesSmall business confidence has hit an all-time low as the majority of Main Street expects runaway inflation and a Federal Reserve that is incapable of engineering a soft landing for the economy.In fact, the majority of small business owners (57%) taking part in the CNBC/SurveyMonkey Small Business Survey for Q3 2022 think the recession has already begun, while another 14% predict recession before the end of the year. The CNBC/SurveyMonkey online poll was conducted July 25-31, 2022 among a national sample of 2,557 self-identified small business owners.The pessimism on Main Street is more widespread than in the general population, according to the survey, which included a companion poll of nearly 12,000 non-business owners. Among this group, 45% believe the U.S. economy has entered a recession.More than three-quarters (77%) of small business owners polled expect prices to continue going up. And while many large corporations continue to pass along price increases to customers and report healthy profits, only 13% of small businesses said now is a good time to raise prices. While inflation in input costs, energy prices and labor have been a top concern for small business owners throughout the year, its dominance in the minds of entrepreneurs continues to climb. According to the Q3 survey, 43% of small business owners say inflation is the biggest risk to their business right now, up again from last quarter, when it was 38%, and the highest this reading has reached in the past four quarters of surveys.Only a minority of small business owners (26%) have confidence in the Federal Reserve to successfully battle inflation — a finding that is consistent with the Q2 survey results.The Fed has continued to message inflation as its top priority and that interest rates will continue to increase until it has prices under control, but Fed senior leadership including Chair Jerome Powell have said they do not believe the economy is in a recession. ""We're not in a recession right now. ... To some extent, a recession is in the eyes of the beholder,"" St. Louis Fed President James Bullard told CNBC on Wednesday.The economic view on Main Street differs significantly.According to SurveyMonkey, which conducts the poll for CNBC, nearly every index component worsened quarter-over-quarter, but the confidence indicator that looms largest this quarter is a weaker sales outlook on Main Street. As the Fed attempts to cool demand throughout the economy with higher interest rates, over one-quarter (28%) of small business owners expect their revenue to decrease over the next 12 months, up from 21% last quarter. This was the biggest swing factor in the overall confidence index hitting an all-time low in Q3.More small businesses also anticipate cutting staff over the next year, up from 14% to 18% quarter over quarter. The percentage of small business owners who describe business conditions as good (33%), went down again, from 36% in Q2 2022. Just over half (51%) of small business owners say the economy is ""poor,"" up from 44% last quarter.Partisan politics and the economyThe small business demographic skews conservative and the confidence index reflects some partisan sentiment and persistent gaps in survey answers based on politics. For example, 69% of Republican small businesses owners believe the economy is in a recession, compared to 34% of Democrats polled. This gap is even wider in how small business owners describe the economy, with 68% of Republicans using the word ""poor,"" compared with 19% of Democrats.More troubling for President Biden, though, is the significant percentage of small business owners who identify as Democrats and think inflation will continue to rise. While that figure is 89% among Republicans, and the partisan gap is wide, more than half of Democrats (51%) agree.President Biden's approval rating on Main Street hit the lowest level of his administration, with 31% of small business owners approving of how he has handled the job of president.While 81% of small business owners who are Democrats approve of Biden, pollsters have noted during this period of high inflation that presidents expect the vast majority of their party to offer support, often north of 90%. And as the CNBC/SurveyMonkey Small Business Survey has shown this year, Biden's approval rating will not improve unless inflation goes down. Biden's approval among important swing voters who identify as independents is at 29%.Only 9% of Republicans approve of Biden's handling of the presidency.",Small business confidence hits all-time low on worsening sales outlook and belief on Main Street recession is here.
"Switzerland's national flag flies beside the one of the European Union in Zurich, Switzerland May 3, 2022. REUTERS/Arnd WiegmannRegister now for FREE unlimited access to Reuters.comBERLIN/ZURICH, Aug 3 (Reuters) - The Swiss government imposed further sanctions against Russia over the war in Ukraine on Wednesday, in line with the European Union's latest measures on gold and gold products, the cabinet said.The government said that it had made two new exceptions with respect to transactions related to agricultural products and oil supplies to third countries, which the EU has as well, in order to avoid any disruptions in payment channels.""The new measures primarily concern a ban on buying, importing or transporting gold and gold products from Russia. Services in connection with these goods are also prohibited,"" a government statement said.Register now for FREE unlimited access to Reuters.comIt said Switzerland was committed to tackling the global food and energy crisis, noting that none of the measures against Russia were directed against the trade in agricultural or food products between third countries and Russia.""To avoid disruption to payment channels, the Federal Council (cabinet) has made two new exceptions with respect to transactions related to agricultural products and oil supplies to third countries, as has the EU,"" it said.Purchases of Russian seaborne crude oil by EU companies and its export to third countries are allowed, but under tweaks to EU sanctions on Russia that came into force last month, payments related to such shipments would not be banned. read more The Swiss government noted that the largest Russian bank, Sberbank, has also had its assets frozen and is banned from providing funds, economic resources or technical services.""New derogations are being introduced to ensure the orderly wind-down of transactions and the sale of Sberbank subsidiaries,"" it said. read more Register now for FREE unlimited access to Reuters.comWriting by Miranda Murray and Michael Shields; Editing by Madeline Chambers and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.","Swiss adopt new EU sanctions on Russia, allow oil payments."
"U.S. August 3, 2022 / 10:44 AM / CBS News Airbnb came under fire this week after a TikTok video went viral showcasing a listing that the owner had described as an ""1830s slave cabin."" The company has since apologized and vowed to make changes to other listings of ""former slave quarters."" The TikTok, captioned ""This is not ok,"" shows screenshots of the housing rental, which was listed as ""The Panther Burn Cottage @ Belmont Plantation"" in Greenville, Mississippi. ""This particular structure, the Panther Burn Cabin, is an 1830s slave cabin from the extant Panther Burn Plantation to the south of the Belmont. It has also been used as a tenant sharecroppers cabin and a medical office for local farmers and their families to visit the plantation doctor,"" a screenshot of the listing reads.  According to its website, the Belmont Plantation is the ""last antebellum mansion along the river in the Mississippi Delta."" A cached page of the website shows the listing said it was the ""sharecroppers cottage at the back of the property; the most private space on the property & the only one with a TV.""The man who posted the TikTok, Wynton Yates, continues to show photos of the cabin, saying, ""How is this OK in somebody's mind to rent this out? A place where human beings were kept as slaves, rent this out as a bed and breakfast?"" The listing had 4.97 out of 5 stars and 68 reviews, which the TikToker said was particularly notable. Photos of the cottage show a clawfoot tub, and tile and lighting fixtures. The listing also describes it as having ""exquisite antique furnishings"" and ""turn down service."" It also says the cabin is the ""last surviving structure"" from the Panther Burn Plantation.  Screenshots of reviews in the TikTok show people saying it was a ""memorable"" stay. Another person said they ""enjoyed everything about our stay"" and that it ""made for a perfect stop in our cross-country trek."" This past March, one person said it was a ""delightful place to step into history, southern hospitality, and stay a night or two."" ""The history of slavery in this country is constantly denied and now it's being mocked by being turned into a luxurious vacation spot,"" the TikToker said, pointing to photos of the listing which show a clawfoot tub and nice tile and lighting fixtures among other amenities. Airbnb told CBS News that ""properties that formerly housed the enslaved have no place on Airbnb."" ""We apologize for any trauma or grief created by the presence of this listing, and others like it, and that we did not act sooner to address this issue.""  The company said that it has removed the listing and is removing other listings in the U.S. known to include former slave quarters. The company also said it's ""working with experts"" to create new policies that address properties that might otherwise be associated with slavery. It was not clear how long the listing was live on Airbnb. The Tiktok shows reviews dating back to August 2021.Following Airbnb's apology, Yates posted another video with the apology from the property's owner, Brad Hauser, who said he has only owned the property for three weeks. ""I apologize for the decision to provide our guests a stay at 'the slave quarters' behind the 1857 antebellum home that is now a bed and breakfast. I also apologize for insulting African Americans whose ancestors were slaves,"" Hauser wrote. He continued to say that he ""strongly opposed"" the previous owner marketing the building as a place where slaves resided and that the building was ""never part of any plantation."" ""I am not interested in making money off slavery,"" he said. ""The plan is and has been to no longer advertise the slave quarters. ... I will be providing guests a historically accurate portrayal of life when The Belmont was built and occupied by both the owners of the family home as well as the 80 or so slaves they purchased who had no control over their own lives."" According to Hauser, the original owner of the building told its previous owner Josh Cain, who listed the property on Airbnb, that it was not used as slave quarters and was not old enough to have housed slaves. Rather, the building was used as a doctor's office. State property records show that Joshua B. Cain was previously listed as the property owner. ""He also asked Cain to stop advertising it as a slave quarters when the building was acquired, he said. ""Cain refused.""He also said he will find experts to provide more information about the property and that he is hoping to ""right a terrible wrong.""  In: slavery mississippi Airbnb Li Cohen Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues.","Airbnb and new owner apologize for ""1830s slave cabin"" listing marketed as luxurious stay."
"Register now for FREE unlimited access to Reuters.comPARIS, Aug 3 (Reuters) - Several people were injured in a blast on Wednesday at military explosives producer Eurenco's site in Bergerac, southwest France, local authorities said.The Dordogne region prefecture said in a statement that eight people had been injured, including one with life-threatening injuries.A fire broke out following the blast, which happened around 1400 CET, but authorities said that around 1600 CET the situation was under control. The prefecture said the blast had had no impact outside the perimeter of the site.Register now for FREE unlimited access to Reuters.comThe firm produces military explosives, propellants and fuels. It also makes explosives for civil use.Bergerac mayor Jonathan Priolead told Reuters that authorities do not yet know what caused the explosion, but it happened in a section dealing with nitrocellulose.Emergency services remain at the scene, the Dordogne prefecture said.Register now for FREE unlimited access to Reuters.comReporting by GV De Clercq and Layli Foroudi; editing by Richard LoughOur Standards: The Thomson Reuters Trust Principles.",Several people injured in blast at French military explosives producer.
"A barista makes coffee for a customer in Houston, Texas, U.S., March 10, 2021. REUTERS/Callaghan O'Hare/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - The U.S. services industry unexpectedly picked up in July amid strong order growth, while supply bottlenecks and price pressures eased, supporting views that the economy was not in recession despite output slumping in the first half of the year.The Institute for Supply Management said its non-manufacturing PMI rebounded to a reading of 56.7 last month from 55.3 in June. The increase ended three straight monthly declines.Economists polled by Reuters had forecast the non-manufacturing PMI decreasing to 53.5. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity.Register now for FREE unlimited access to Reuters.comThe surprise rebound followed on the heels of the ISM's manufacturing survey on Monday showing factory activity slowing moderately last month. It was in stark contrast with the S&P Global survey showing the services sector shrinking in July.The government reported last week that the economy contracted 1.3% in the January-June period.Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame. Overall economic momentum has, however, cooled as the Federal Reserve aggressively tightens monetary policy to fight inflation.Services activity is being supported by a shift in spending from goods. The ISM's measure of new orders received by services businesses shot up to 59.9 from 55.6 in June. Businesses reported a rise in exports.Its services industry employment gauge improved to 49.1 from 47.4 in June, which was the lowest reading since July 2020.Though demand for workers in industries like construction, wholesale and retail trade is easing, labor remains in short supply. The government reported on Tuesday that there were 10.7 million job openings at the end of June, with 1.8 openings for every unemployed person. read more The ISM survey's measure of supplier deliveries fell to 58.3 from 61.9 in June, helping to slow the pace of increase in services inflation. A gauge of prices paid by services industries for inputs dropped to 72.3, the lowest reading since February 2021, from 80.1 in June.Register now for FREE unlimited access to Reuters.comReporting By Lucia Mutikani; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.",U.S. service sector unexpectedly picks up in July; price growth slows - ISM survey.
"Crime August 3, 2022 / 10:11 AM / CBS/AP A Southern California office who was named ""detective of the year"" in 2019 allegedly sent graphic messages to a decoy pretending to be a 14-year-old girl and some of the communications occurred while he was on duty, prosecutors said Tuesday.The civilian decoy contacted Orange County Crime Stoppers and reported that a person claiming to be a 45-year-old police officer had sent them inappropriate messages in December and January, the Orange County District Attorney's Office said Tuesday.Santa Ana Police Detective Gregory Beaumarchais allegedly also created a second social media account after a technology platform revoked his original access, prosecutors said. Beaumarchais, 43, turned himself in Tuesday. He is charged with one misdemeanor count of annoying or molesting a victim believed to be under the age of 18. It was not immediately clear whether he had an attorney who could speak on his behalf. Detective Gregory Beaumarchais  Santa Ana Police Department Beaumarchais, a member of the police department since 2011, has been on administrative leave since mid-December, when the agency was notified of his alleged conduct. Beaumarchais was named by the Santa Ana Police Department as its 2019 ""detective of the year,"" according to a 2021 tweet from the department. ""Our Department will not tolerate inappropriate behavior or alleged criminal conduct that infringes on the trust provided by the community we are hired to serve,"" Santa Ana Police Chief Chief David Valentin said in a news release.Beaumarchais faces up to a year in jail and would have to register as a sex offender if convicted.""It is beyond disturbing that a sworn police officer would engage in inappropriate conversations with someone he believed to be a child,"" District Attorney Todd Spitzer said in a news release. ""Our children should not have to worry about being preyed upon by the very people we teach them who are there to protect them.""The U.S. Department of Homeland Security assisted in the investigation. ""Today's filing of criminal charges for showing sexual interest in children shows no one is above the law when it comes to keeping communities free from predators,"" said Shawn Gibson, acting Special Agent in Charge, Homeland Security Investigations in Los Angeles. In: California Santa Ana Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","California officer, once ""detective of the year,"" accused of sending graphic photos to person he thought was 14-year-old girl."
"It has been a rough month for the crypto sector, and it's only the third day of August.From cross-chain bridge hacks draining hundreds of millions of dollars in customer funds to the Securities and Exchange Commission coming after crypto ponzi schemes, this corner of the market can't catch a break.The developments add to an already torrid year for the crypto market, which has seen huge declines as fears around tightening monetary policy and a lack of liquidity set in.The flood of news is difficult for even insiders to track, so here's a rundown of what you've missed since Monday.MondayThe U.S. Securities and Exchange Commission headquarters in Washington on Feb. 23, 2022.Al Drago/Bloomberg via Getty ImagesThe Securities and Exchange Commission on Monday filed a civil complaint charging 11 people for their roles in creating and promoting an allegedly fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.The scheme, called Forsage, claimed to be a decentralized smart contract platform, allowing millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron and binance blockchains. The SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation. In the SEC's formal complaint, Wall Street's top watchdog calls Forsage a ""textbook pyramid and Ponzi scheme,"" in which Forsage aggressively promoted its smart contracts through online promotions and new investment platforms, all while not selling ""any actual, consumable product."" The complaint adds that ""the primary way for investors to make money from Forsage was to recruit others into the scheme.""The SEC said Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" wrote Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit.""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Forsage, through its support platform, declined to offer a method for contacting the company and did not offer comment.Four of the eleven individuals charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia and Indonesia.The SEC has also charged three U.S.-based promoters who endorsed Forsage on their social media platforms. They were not named in the commission's release.Forsage was launched in January 2020. Regulators around the world have tried a couple of times to shut it down. Cease-and-desist actions were brought against Forsage first in September of 2020 by the Securities and Exchange Commission of the Philippines. In March 2021, the Montana commissioner of securities and insurance tried the same. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.Two of the defendants, both of whom did not admit or deny the allegations, agreed to settle the charges, subject to court approval.TuesdaySo-called blockchain bridges have become a prime target for hackers seeking to exploit vulnerabilities in the world of decentralized finance.Jakub Porzycki | NurPhoto | Getty ImagesCrypto startup Nomad lost almost $200 million in a devastating security exploit. Nomad is known as a ""bridge,"" where users can transfer tokens from one blockchain to another. Hackers exploited a security flaw that let users enter any value into the system and siphon off the funds, even if there weren't enough assets available in Nomad's deposit base.The nature of the bug meant that users didn't need any programming skills to exploit it. Others caught on and deployed armies of bots to carry out copycat attacks.""Without prior programming experience, any user could simply copy the original attackers' transaction call data and substitute the address with theirs to exploit the protocol,"" said Victor Young, founder and chief architect of crypto startup Analog.""Unlike previous attacks, the Nomad hack became a free-for-all where multiple users started to drain the network by simply replaying the original attackers' transaction call data.""Blockchain bridges are a popular way of moving tokens off of networks like Ethereum, which has gained a reputation for slow transaction times and high fees, into cheaper, more efficient blockchains. But sloppy programming choices have made them a prime target for hackers seeking to swindle investors out of millions. More than $1 billion worth of crypto has been lost to bridge exploits so far in 2022, according to blockchain analysis firm Elliptic.""I can only hope that developers and projects will learn that they are running a critical piece of software,"" said Adrian Hetman, tech lead at Web3 security firm Immunefi, told CNBC.""They need to keep the security first be security first at every business decision because they are dealing with people's money a lot of that money is locked in those contracts.""Nomad said it's working with crypto security firm TRM Labs and law enforcement to trace the movement of funds, identify the perpetrators behind the attack and return stolen tokens to users.""Nomad is committed to keeping its community updated as it learns more in the coming hours and days and appreciates all those who acted quickly to protect funds,"" the company said in the statement.Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy's balance sheet as part of an unorthodox treasury management strategy.Eva Marie Uzcategui | Bloomberg | Getty ImagesLater on Tuesday, MicroStrategy announced CEO Michael Saylor is leaving his role to become Executive Chairman of the company. The company's president, Phong Le, will take the reins from Saylor.Saylor has been the CEO since he launched the company in 1989. MicroStrategy went public in 1998.MicroStrategy's stock is down over 48% this year. Bitcoin is down over 51% during that same time period.""I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,"" Saylor said in the release.The announcement comes as the company announces its second quarter earnings, in which its total revenues dropped by 2.6% compared to a year ago. The company also reported an impairment charge of $918 million on the value of its digital assets, presumably primarily bitcoin.MicroStrategy may technically be in the business of enterprise software and cloud-based services, but Saylor has said the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S.""We're kind of like your nonexistent spot ETF,"" Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami in April.Late Tuesday, early WednesdaySolana logo displayed on a phone screen and representation of cryptocurrencies are seen in this illustration photo taken in Krakow, Poland on August 21, 2021.Jakub Porzycki | NurPhoto | Getty ImagesAnd then on Tuesday night, unknown attackers came after hot wallets connected to solana's blockchain.Nearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic's estimate is slightly higher at 7,936 wallets.Solana's sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It's currently down about 1%, while trading volume is up about 105% in the last 24 hours.Starting Tuesday evening, multiple users began reporting that assets held in ""hot"" wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds.Phantom said on Twitter that it's investigating the ""reported vulnerability in the solana ecosystem"" and doesn't believe it's a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets ""across a wide variety of platforms.""Elliptic chief scientist Tom Robinson told CNBC the root cause of the breach is still unclear, but ""it appears to be due to a flaw in certain wallet software, rather than in the solana blockchain itself."" OtterSec added that the transactions were being signed by the actual owners, ""suggesting some sort of private key compromise."" A private key is a secure code that grants the owner access to their crypto holdings.The identity of the attacker is still unknown, as is the root cause of the exploit. The breach is ongoing.""Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on solana,"" according to Solana Status, a Twitter account that shares updates for the entire solana network.The solana network is strongly encouraging users to use hardware wallets, since there's no evidence those have been impacted.""Do not reuse your seed phrase on a hardware wallet - create a new seed phrase. Wallets drained should be treated as compromised, and abandoned,"" reads one tweet. Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet.A private key is unique and links a user to their blockchain address. A seed phrase is a fingerprint of all of a user's blockchain assets that is used as a backup if a crypto wallet is lost.The Solana network was viewed as one of the most promising newcomers in the crypto market, with backers like Chamath Palihapitiya and Andreessen Horowitz touting it as a challenger to ethereum with faster transaction processing times and enhanced security. But it's been faced with a spate of issues lately, including downtime in periods of activity and a perception of being more centralized than ethereum.",It has been a miserable month for crypto — and it's only the third day of August.
"Pope Francis holds the weekly general audience at the Vatican, August 3, 2022. REUTERS/Remo CasilliRegister now for FREE unlimited access to Reuters.comVATICAN CITY, Aug 3 (Reuters) - Pope Francis said on Wednesday he hoped the people of Lebanon can be comforted by justice over the Beirut port blast that killed at least 215 people two years ago, saying ""the truth can never be hidden"".Speaking at his weekly general audience, Francis noted that Thursday would be the second anniversary of the blast, which also wounded thousands of people and damaged large swathes of the capital.""My thoughts go to the families of the victims of that disastrous event and to the dear Lebanese people. I pray so that each one can be consoled by faith and comforted by justice and by truth, which can never be hidden,"" he said.Register now for FREE unlimited access to Reuters.comDespite the devastation wrought by the blast, one of the biggest non-nuclear explosions ever recorded, a judicial investigation has brought no senior official to account. read more With the probe frozen for months, many Lebanese see this as an example of the impunity enjoyed by a ruling elite that has long avoided accountability for corruption and bad governance, including policies that led to financial collapse.Francis said he hoped that Lebanon, helped by the international community, could see a ""renaissance"" and be a land of peace and pluralism where members of different religions can live together in fraternity.The pope was to have visited Lebanon in June but the trip was postponed, partly because of his health and partly because of the political situation in Lebanon.Register now for FREE unlimited access to Reuters.comReporting by Philip Pullella; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.","Truth about Beirut port blast cannot be hidden, pope says."
"Andy Jassy, chief executive officer of Amazon.Com Inc., during the GeekWire Summit in Seattle, Washington, U.S., on Tuesday, Oct. 5, 2021.David Ryder | Bloomberg | Getty ImagesSocial media giants Meta and Snap are telling investors that the online advertising market is experiencing some turbulence due to the economic slowdown. Amazon is sending a very different message.While the bulk of its business comes from e-commerce and cloud computing, Amazon has built a robust online ad division by getting brands to pay big bucks to promote their products on the company's website and app.As of late last year, Amazon commanded 14.6% of the U.S. digital ad market, third to Google at 26.4% and Facebook at 24.1%, according to Insider Intelligence.In the second quarter, Amazon grew faster than either of its larger peers in the market and also beat out the rest of the major players. Amazon's ad revenue rose 18% from a year earlier to $8.76 billion, topping analysts' expectations and underscoring the unit's rapid ascent and increasing importance to brands.By contrast, Facebook's ad business shrank for the first time ever, missing analyst estimates, and the company forecast a second consecutive decline in revenue in the current period.Here are the growth rates in descending order for the top online ad platforms.Amazon — 18%Snap — 13%Google — 12%Pinterest — 9%Twitter — 2%Facebook — (1.5%)It wasn't just the social media companies calling out the challenging ad environment. Streaming service Roku reported disappointing second-quarter results and said in a shareholder letter that the current ad market is reminiscent of the onset of the Covid-19 pandemic, ""when marketers prepared for macro uncertainties by quickly reducing ad spend across all platforms.""Meanwhile, Amazon provided a level of reassurance to Wall Street in giving guidance for revenue growth in the third quarter of 13% to 17%. That's going to be a boon for the ad division, because ""the ads business goes as the commerce business goes,"" said Andrew Lipsman, an analyst at Insider Intelligence.""Long term I think Amazon is building an absolute advertising juggernaut,"" Lipsman said. ""That engine is going to become transformative to advertising.""Amazon has a distinct advantage over several of the social media platforms that have struggled of late. In 2021, Apple's iOS privacy change made it harder for ad-supported sites to track users, a move that's had an outsized impact on Facebook and Snap. Amazon, by contrast, is its own separate silo, where advertisers go directly to build campaigns.Lipsman said that companies concerned about a potential recession are allocating more of their ad budgets to places like Amazon, where they can more likely see a return on their investment.""It's a flight to safety for ad dollars right now, and that safety is when you can show measurable returns on ad spend,"" Lipsman said.The prospect of ads leading to direct sales is guiding much of Pinterest's current strategy. The company is investing heavily in e-commerce and recently landed former Google commerce lead Bill Ready as its new CEO, succeeding co-founder Ben Silbermann.  Justin Patterson, an analyst at KeyBanc Capital Markets, said there are signs that Pinterest is seeing some success in e-commerce and that its ""algorithms helping people discover contact or discover items on Pinterest to shop also continue to improve.""Pinterest's revenue slightly missed analyst estimates and the company also issued a disappointing forecast for growth in the mid single digits. But the stock climbed 12% after activist investor Elliott Management disclosed that it's the biggest shareholder in the company and said, ""Pinterest occupies a unique position in the advertising and shopping ecosystems.""Despite all the doom and gloom about the broader online ad market, Kate Scott-Dawkins, global director of business intelligence for media investment firm GroupM, sees plenty of reasons for optimism. Facebook parent Meta is still bringing in lots of cash, and while social media platforms aren't experiencing the kind of booming growth they did during the pandemic, they still have the attention of top advertisers, she said.Brand awareness is important for companies in the consumer packaged goods industry and elsewhere, regardless of the current economic environment, Scott-Dawkins said.""We've heard from CPG brands in the past about the importance they place on advertising and brand advertising in recessionary times, just in terms of continuing to make sure that consumers choose their brand over a generic brand,"" she said.The big question will be whether consumers cut back on spending as the year progresses, which could have a more profound impact on company ad budgets. If that's the case, Amazon could still pick up share, but in a market with fewer dollars to go around.WATCH: Big tech companies paint an ugly picture of the U.S. economy.",Amazon is bucking the online ad trend and just beat out Google and Meta.
"People walk past the R&D centre of Contemporary Amperex Technology Ltd (CATL) in Ningde, Fujian province, China, December 16, 2016. REUTERS/Jake Spring/File PhotoRegister now for FREE unlimited access to Reuters.comSHANGHAI, Aug 3 (Reuters) - China's CATL (300750.SZ), the world's largest battery maker, is pressing ahead with plans to deliver lower-cost lithium iron batteries to Ford Motor Co (F.N) and with plans for battery production in North America by 2026, a person with knowledge of the matter said on Wednesday.Bloomberg News reported on Tuesday that CATL was delaying a decision on a North American plant after U.S. House Speaker Nancy Pelosi's visit to Taiwan, saying that an announcement could still come by September or October.The Wall Street Journal reported on Wednesday that before Pelosi's visit, which China sees as a provocation, CATL had been planning to announce its North American investment plans this month.Register now for FREE unlimited access to Reuters.comReuters could not independently confirm whether CATL had delayed any announcement on its long-anticipated investment in North America, an expansion that has been previously complicated by tensions between the United States and China.CATL did not immediately respond to a request for comment.The person with knowledge of the company's planning told Reuters CATL had not changed its plan to start local battery production for North America from 2026.The expansion is expected to provide EV batteries for Ford, BMW and potentially other automakers, including Tesla.In May, Reuters reported CATL was in the final stage of vetting sites including in South Carolina and Kentucky for battery production. read more CATL has been considering building a plant in Mexico that could ship cells for assembly into battery packs at facilities in the United States, the person said. Subsidies and cost-sharing arrangements with automakers for those plants are still being negotiated, the person said.Last month, Ford (F.N) announced that it would use imported lithium iron phosphate (LFP) batteries from CATL for its North American electric pickup trucks and SUVs.Ford said it expected to be able to secure LFP batteries from a new 40 GWh factory to be built in North America from 2026.Register now for FREE unlimited access to Reuters.comReporting by Zhang Yan and Brenda Goh; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",China's CATL presses ahead with battery plans for North America -source.
"Crime August 3, 2022 / 5:40 AM / CBS/AP Dadeville, Ala. — A 12-year-old girl held captive in a rural Alabama mobile home escaped and was discovered walking along a road, prompting an investigation that led police to discover two decomposing bodies at the home where she had been kept, authorities said Tuesday.José Paulino Pascual-Reyes, 37, was jailed on a kidnapping count, Tallapoosa County Sheriff Jimmy Abbett told a news conference. District Attorney Jeremy Duerr said ""multiple"" additional capital murder charges were likely. A motorist driving through a rural residential area spotted a child on the road on Monday morning and stopped, authorities said. The driver picked up the girl and called 911, prompting an investigation and search that led to police officers finding two decomposing bodies inside the residence where Pascual-Reyes lived and the girl was believed to have been held, Abbett said. Other people lived at the residence, but no one else was there when police arrived, he said.Detectives say the girl was tied to bed posts for more than a week and given alcohol to keep her in a drugged state, CBS Columbus, Georgia affiliate WRBL-TV reports. Investigators say she escaped by chewing out of her restraints, damaging the braces on her teeth in the process. Detectives believe the girl was abducted around July 24 and the suspect intended to hurt or sexually abuse her, the station says.The metal underpinning of the mobile home was ripped off, according to WRBL, and it appears investigators were focusing their attention along the ground under the mobile home.The man was arrested in Auburn, Abbett said. It wasn't clear what information the girl might have provided to authorities, but Abbett called her a hero.Police didn't immediately release the names of the dead people or a cause of death, and court records didn't include the name of a defense lawyer who could speak on behalf of Pascual-Reyes. Authorities didn't release any information about the girl, including whether she had any relationship to the suspect. She hadn't been reported missing, the sheriff said. ""We gave her medical attention,'' Abbett said. ""She is safe now, and so we want to keep her that way.""The FBI and Department of Homeland Security were also involved in the investigation, WRBL reports.   Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","""Hero"" abducted girl chews through restraints and her escape leads to discovery of two bodies."
"A CVS Pharmacy store is seen in the Manhattan borough of New York City, New York.Shannon Stapleton | ReutersCVS said Wednesday that it plans to acquire or take a stake in a primary-care company by the end of the year, as competition heats up with Amazon and Walgreens.CEO Karen Lynch said on the company's second-quarter earnings call that the company wants to team up with a provider that has a strong management team and tech background and the ability to grow quickly.CVS, best known for its many drugstores, has touchpoints across the health-care industry. It has acquired insurer Aetna and pharmacy benefits manager Caremark. Customers can get vaccines or urgent care at MinuteClinic outposts inside of its stores. And the company keeps adding more health services to those locations, too — it recently introduced therapy services at some stores. CVS doesn't yet have doctor offices where patients can go for an annual checkup or appointments with a physician or nurse practitioner, though. At an investor day last year, Lynch said CVS wants to change that by buying or partnering with a company.At the time, Dr. Alan Lotvin, executive vice president of CVS Health and president of CVS Caremark, said he envisioned CVS standing out in primary care. The company wants to offer longer hours at its doctor offices so people can visit as early as 6 a.m., as late as 9 p.m., or on the weekends. It also wants to utilize simple, streamlined tech, so customers don't have to fill out piles of paperwork.Other health-care players have already made moves in the space. Rival Walgreens Boots Alliance is opening hundreds of doctor offices in partnership with VillageMD and became the majority owner of the company. Walmart has a small, but growing number of clinics where people can visit a doctor, dentist or therapist for a low price.Amazon ratcheted up pressure by announcing last month that it would acquire primary-care provider One Medical for about $3.9 billion. The boutique health-care company has 188 medical offices across 25 markets, according to its latest quarterly results.Lynch said CVS has a competitive edge with the size of its business. She said nearly 4.8 million customers interact with the company each day at CVS locations. Plus, she said, MinuteClinic visits increased 12% in the fiscal second quarter.CVS can build ""from the strong foundation that we already have,"" Lynch said.",CVS says it plans to get into primary care by year end.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesThis content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 3 (Reuters) - As the world's biggest soft drinks makers cut their Russian ties, local producer Chernogolovka is aiming for a 50% share of the country's near $9 billion market, its boss told Reuters.A mass exodus of Western firms due to sanctions and restrictions over Russia's actions in Ukraine has created an unexpected opportunity for Russian businesses and entrepreneurs.Chernogolovka, named after the town outside Moscow where it was founded in 1998, makes snacks, bottled water, herby lemonades, energy drinks and, since May, Cola Chernogolovka.Register now for FREE unlimited access to Reuters.comThe privately-owned company is more than doubling its business this year, its CEO Natalia Sakhnina said in an interview, and expects to reach a 30% market share within two years, up from around 8.5% at the end of 2021.""We were, are and will be the main Russian producer of drinks,"" Sakhnina said. ""We hope and are working on gaining absolute leadership in the Russian market.""Revenue in Russia's non-alcoholic drinks market totals $8.8 billion, according to data provider Statista.Although fizzy drinks made by Coca-Cola (KO.N) and PepsiCo are still available in Russia, they are set to disappear over time as existing stocks are run down, leaving local manufacturers to step in.PepsiCo suspended soda production and sales in Russia in March, one of many Western consumer brands to curtail operations after Russia sent troops into Ukraine. read more Coca-Cola also suspended operations in March. In June, it said bottler Coca-Cola HBC AG (CCH.L) and its existing customers in Russia were depleting stock. read more Chernogolovka has almost doubled volume in the southern city of Krasnodar and increased capacity by 50% in Siberia's Novosibirsk so far in 2022 when compared to 2021, Sakhnina said.COLA PUSHNewly launched cola brands, including Chernogolovka's and competitor Ochakovo's CoolCola, jumped to a 5% share of sales in the category in the first half of 2022, NielsenIQ Russia said.A view shows bottles and cans of soft drinks at a plant of the Chernogolovka company in the town of Chernogolovka in the Moscow region, Russia July 28, 2022. REUTERS/Alexander Reshetnikov""Our company was not present in the cola segment,"" Sakhnina said of an area that accounts for around 50% of the market.""This year we entered this segment and this coincided with international players in this flavour leaving. So if we evaluate our prospects and ambitions, they are almost limitless.""To meet the anticipated ramp up in demand, Chernogolovka is building a 40,000 square metre production plant in the town. The facility will cost over 3 billion roubles ($50 million) and its first stage is slated for completion in March 2023.Some additional demand has come from fast food outlets.Chernogolovka started supplying soft drinks to the Russian outlets of Burger King and KFC in April. It is in talks to do the same for Vkusno & tochka, the renamed chain of McDonald's restaurants that opened after the world's largest fast-food chain sold to a local licensee, Sakhnina said.Vkusno & tochka is looking for a new drinks provider, as Coca-Cola is depleting its Russia stock, Chief Executive Oleg Paroev told Reuters in June. read more ""We are currently considering options, choosing a supplier that according to taste will suit our guests the most,"" a Vkusno & tochka spokesperson said on Wednesday, when asked about any talks with Chernogolovka.Like all Russian companies, Chernogolovka faced supply headaches after Western governments and companies targeted Russia with sanctions and restrictions, Sakhnina said, adding that aluminium lids and adhesive labels were a particular issue.However, the Moscow region's government pushed for Chernogolovka's inclusion in a list of firms producing crucial goods, allowing it to tap preferential lending in April and May.Interest rates leapt to 20% in late February, and although they have since steadily decreased to 8%, Chernogolovka said it was at one point able to borrow money now being used to fund expansion at a discount of 10 percentage points.While Sakhnina did not rule out the possibility of a stock market listing, she said growth was the priority. And while acquisitions are possible, including from departing Western firms, there have been no talks to date, she said.""This is just the beginning,"" Sakhnina said. ""This market, if the competitive situation remains the same, will look completely different in a year, unrecognisable.""($1 = 60.1000 roubles)Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Matt Scuffham and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.","Exclusive: Russian soft drinks maker targets 50% of market to fill gap left by Coke, Pepsi."
"Iran's chief nuclear negotiator Ali Bagheri Kani arrives at Palais Coburg where closed-door nuclear talks with Iran take place in Vienna, Austria, February 28, 2022. REUTERS/Leonhard FoegerRegister now for FREE unlimited access to Reuters.comDUBAI, Aug 3 (Reuters) - Iran's top nuclear negotiator and a senior U.S. envoy will travel to Vienna this week for talks on reviving the 2015 nuclear pact, officials from both governments said on Wednesday, rekindling a process that stalled in June.Iran's foreign ministry spokesperson Nasser Kanaani said Tehran was ready to reach a deal that guarantees its rights, according to state media.""(Iranian negotiator) Bagheri Kani will leave Tehran in a few hours ... In this round of talks, which will be held as usual with the coordination of the European Union, ideas presented by different sides will be discussed,"" Kanaani saidRegister now for FREE unlimited access to Reuters.comProviding no further details, a U.S. official said Rob Malley, the U.S. special envoy for Iran, will travel to Vienna for talks this week on reviving the nuclear agreement. read more Last month, top European Union diplomat Josep Borrell said he had proposed a new draft text to revive the accord under which Iran curbed its nuclear programme in return for relief from economic sanctions.In 2018, then-U.S. President Donald Trump abandoned the deal, calling it too soft on Iran, and reimposed harsh U.S. sanctions, spurring Tehran to begin breaching the nuclear limits set in the pact.The deal seemed near revival in March after 11 months of indirect talks between Tehran and President Joe Biden's administration in Vienna.But talks then broke down over obstacles including Tehran's demand that Washington should give guarantees that no U.S. president would abandon the deal as Trump did.Biden cannot promise this because the nuclear deal is a non-binding political understanding, not a legally-binding treaty.In June, the EU-mediated, indirect talks between Bagheri Kani and Malley aimed at breaking an impasse over how to salvage the 2015 nuclear pact ended in Qatar without the progress.""Iran is determined to reach a stable agreement that guarantees the rights and interests of the Iranian nation,"" Kanaani said, calling on Washington to ""provide the conditions for the effective progress of the talks by taking the necessary decisions"".An Iranian official told Reuters that the talks in Vienna will be ""in the format of the Doha meeting"", where EU envoy Enrique Mora shuttled between Bagheri Kani and Malley because Tehran refused to hold direct talks with Washington.Earlier on Wednesday, Mora tweeted: ""On my way to Vienna to discuss #JCPOA back to full implementation on the basis of the coordinator's text tabled on 20 July.""Register now for FREE unlimited access to Reuters.comAdditional reporting By Arshad Mohammed in Saint Paul, Minn.
Writing by Parisa Hafezi; Editing by Frank Jack Daniel and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.","Iran, U.S. top negotiators to travel to Vienna for nuclear pact talks."
"Register now for FREE unlimited access to Reuters.comKINSHASA, Aug 3 (Reuters) - Democratic Republic of Congo has asked the spokesman of the U.N. peacekeeping mission, MONUSCO, to leave the country, blaming him for stoking tensions that led to deadly protests last week.Thirty-six people, including four U.N. peacekeepers, were killed last week as hundreds of protesters vandalised and set fire to U.N. buildings in several cities in Congo's east. read more Civilians accuse the mission, which has been active for more than a decade, of failing to protect them from militia violence that has long plagued the region.Register now for FREE unlimited access to Reuters.comThe government said that the spokesman, Mathias Gillmann, had made ""indelicate and inappropriate"" statements which contributed to the tensions between the population and MONUSCO.United Nations peacekeeping troops patrol the streets in armoured personnel carriers on election day in Democratic Republic of Congo's capital Kinshasa July 30, 2006. REUTERS/Finbarr O'Reilly/File Photo""The Congolese government considers that the presence of this official on the national territory is not likely to promote a climate of mutual trust and calm between Congolese institutions and MONUSCO,"" said the statement from the foreign affairs ministry dated July 28 and seen by Reuters on Wednesday.Gillmann and MONUSCO's deputy spokesperson did not immediately respond to requests for comment.The Congolese government also said this week that it would reassess the mission's withdrawal plan in light of the protests, a decision which MONUSCO said it supported. read more The mission is due to withdraw by 2024 according to a plan drawn up last year, but the government aims to speed up its departure, said foreign affairs minister Christophe Lutundula.Register now for FREE unlimited access to Reuters.comReporting by Stanis Bujakera; Writing by Nellie Peyton, Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.",Congo expels U.N. peacekeeping mission spokesman after protests.
"Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comKABUL, Aug 3 (Reuters) - Top leaders of Afghanistan's Taliban were holding discussions on Wednesday about how to respond to a U.S. drone strike in Kabul that the United States said killed al Qaeda leader Ayman al-Zawahiri, three sources in the group said.The United States killed Zawahiri with a missile fired from a drone while he stood on a balcony at his Kabul hideout on Sunday, U.S. officials said, the biggest blow to the militants since Osama bin Laden was shot dead more than a decade ago. read more Two Hellfire missiles fired from a drone killed the leader of al Qaeda, causing surprisingly little damage beyond the target, suggesting they may be a version of the missile used by the United States to avoid non-combatant casualties.The Taliban have not confirmed Zawahiri's death.Register now for FREE unlimited access to Reuters.comOfficials of the Islamist group, long-time allies of al Qaeda, initially confirmed the Sunday drone strike but said the house that was hit was empty.""There are meetings at a very high level on whether they should react to the drone strike, and in case they decide to, then what is the proper way,"" a Taliban leader who holds an important position in Kabul told Reuters.The official, who said there had been lengthy leadership discussions for two days, declined to be identified. He did not confirm that Zawahiri was in the house that the missile struck.How the Taliban react could have significant repercussions as the group seeks international legitimacy, and access to billions of dollars in frozen funds, following their defeat of a U.S.-backed government a year ago.Zawahiri, an Egyptian doctor, was closely involved in the Sept. 11, 2001, attacks on the United States and was one of the world's most wanted men.His death in Kabul raises questions about whether he received sanctuary from the Taliban, who had assured the United States as part of a 2020 agreement on the withdrawal of U.S.-led forces that they would not harbour other militant groups.U.S. Secretary of State Antony Blinken said the Taliban had ""grossly violated"" the agreement by hosting and sheltering Zawahiri.Outside a tight circle of top Taliban leaders, group members appeared in the dark about whether Zawahiri was actually in Kabul, let alone his fate.Another Taliban official confirmed the high-level meetings but said he did not know what was being discussed and he did not believe Zawahiri was in the house.Suhail Shaheen, the designated Taliban representative to the United Nations, who is based in Doha, told journalists he had received no word on the Taliban position.""I am awaiting details and reaction from Kabul,"" he told reporters in a message.Register now for FREE unlimited access to Reuters.comReporting Jibran Ahmad in Peshawar and Mohammad Yunus Yawar in Kabul; Writing by Gibran Peshimam; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Tight-lipped Taliban leaders gather after U.S. says Zawahiri killed.
"U.S. August 3, 2022 / 8:32 AM / CBS News Sandy Hook dad blames Alex Jones for ""hell"" Sandy Hook parent blames Alex Jones for years of ""hell"" 01:47 Scarlett Lewis' 6-year-old son Jesse was among the 20 children killed in the 2012 Sandy Hook elementary school shooting. For years, she and her husband have faced harassment from people believing that her child's death was staged – but on Tuesday, she had the chance to confront the man who's been at the helm of propagating such falsehoods.Lewis took the witness stand in the defamation trial against conspiracy theorist Alex Jones and his media company for his repeated claims that the Sandy Hook massacre was ""staged."" Lewis and her husband, Neil Heslin, are seeking at least $150 million in damages, and have outlined how they have been harassed, threatened and even had their home shot at by people believing Jones' lies about the mass shooting. Sitting at the witness stand and looking Jones straight in the eyes, Lewis said, ""I wanted to tell you to your face. ... I am a mother, first and foremost, and I know you're a father. And my son existed.""  Lewis accused him of repeatedly implying on his show Infowars that she and other victims and their families are actors. On the day of the shooting, Jones published an episode of InfoWars in which he says, ""Don't ever think this couldn't be staged."" He repeatedly suggested that the mass shooting could have been a ""staged event.""  Politifact has also tracked several instances of Jones' comments. In an Infowars show from January 13, 2015, Jones told a caller that ""Sandy Hook is a synthetic completely fake with actors, in my view, manufactured.""""I knew they had actors there, clearly, but I thought they killed some real kids. And it just shows how bold they are, that they clearly used actors,"" he said.In another episode published on December 28, 2014, Jones said the shooting was a ""giant hoax"" and falsely claimed that ""the whole thing was fake."" ""You're still on your show today trying to say that, implying, that I'm an actress, that I'm deep state. You have, this week. And I don't understand,"" Lewis told jones on Tuesday. ""Truth – truth is so vital to our world. Truth is what we base our reality on and we have to agree on that to have a civil society. Sandy Hook is a hard truth."" She continued to press him on his false claims about the reality of the shooting, at one point directly asking him if she thinks she's an actor. ""No I don't think you're an actor,"" Jones responded. ""Jesse was real. I am a real mom,"" she said. ""...I know you know that, and that's the problem."" As she addressed him, Jones shook his head, to which she responded, ""I know you believe me and yet you're going to leave this court house and you're going to say it again on your show."" Before the hearing on Tuesday, Jones broadcasted on his show that Lewis' husband Neil Heslin is ""slow"" and being manipulated. Last week, an article posted on the Infowars website details Jones' statement to the press following a hearing in which he said the judge of the case is only doing it ""for political reasons."" He also said the case is ""one of the greatest show trials ever to happen"" and is ""the murder of your rights to due process."" Heslin, who also testified on Tuesday, said that Jones made their lives a ""living hell"" filled with abuse and trauma from his followers. He and Lewis described people shooting at their home and car, harassment and even receiving threatening emails. ""I can't even describe the last nine and a half years, the living hell that I and others have had to endure because of the recklessness and negligence of Alex Jones,"" Heslin said. ""It's fear for your life,"" Lewis said. ""You don't know what they were going to do.""Jones is facing several lawsuits from Sandy Hook families who allege that his claims led to years of abuse. He has already been found liable for defamation by courts in Texas and Connecticut for how he portrayed the mass shooting as a hoax.  In: alex jones Sandy Hook Elementary School Shooting Connecticut Mass Shooting Sandy Hook Li Cohen Li Cohen is a social media producer and trending reporter for CBS News, focusing on social justice issues. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Mother of 6-year-old killed in Sandy Hook takes witness stand and confronts Alex Jones about his lies: ""My son existed""."
"The Regeneron Pharmaceuticals company logo is seen on a building at the company's Westchester campus in Tarrytown, New York, U.S. September 17, 2020. Picture taken September 17, 2020. REUTERS/Brendan McDermid/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Regeneron Pharmaceuticals (REGN.O) on Wednesday beat quarterly revenue estimates as strong demand for blockbuster drugs Dupixent and Eylea offset hit from its COVID-19 antibody therapy that recorded no U.S. sales for the second straight quarter.Eye drug Eylea's performance has been remarkable despite analysts concerns about competition from Roche Holding AG's (ROG.S) Vabysmo as well as low probability of success in ongoing high-dose Eylea trials in two chronic eye diseases.The drug, which has been in the market since 2011, witnessed a 14% jump in U.S. sales to $1.62 billion. It generated $5.79 billion in U.S. sales in 2021, a 17% rise from a year earlier.Register now for FREE unlimited access to Reuters.com""We see 2Q22 results as representing a strong beat, with Eylea results showing a strong front against competition from Vabysmo and continued momentum from Dupixent,"" Wells Fargo analyst Mohit Bansal said in a note.Label expansion of anti inflammatory drug Dupixent in the past few months drove sales higher, with revenue jumping nearly 40% to $2.09 billion in the second quarter ended June 30.Regeneron's quarterly revenue fell 44% to $2.86 billion, but came in ahead of analysts' average expectation of $2.80 billion.Analysts estimates had baked in no U.S. sales warning from Regeneron's COVID-19 antibody cocktail in the first half of the year.The U.S. regulator banned the drug, REGEN-COV, in January with some exceptions, in all states due to its lack of effectiveness against the Omicron coronavirus variant. read more REGEN-COV, which was initially authorized for use in non-hospitalized COVID-19 patients by the U.S. regulator in 2020, had brought in $5.83 billion in U.S. sales in 2021.Register now for FREE unlimited access to Reuters.comReporting by Mrinalika Roy in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.",Regeneron beats sales estimates on strong demand for blockbuster eye drug.
"U.S. stocks rose Wednesday, as traders tried to regain their footing following back-to-back losing sessions.The Dow Jones Industrial Average rose 149.87 points, or 0.46%. The S&P 500 gained 0.55% and the Nasdaq Composite increased 0.85%, boosted by rising tech stocks. Shares of Amazon, Tesla, Apple and PayPal all opened higher. Earnings season continued, giving investors hope that the market can recover. Moderna and CVS Health both rose after reporting earnings beats. Comments from St. Louis Federal Reserve President James Bullard also boosted sentiment. He told CNBC Wednesday morning that he doesn't think the U.S. is currently in a recession, and that rate hikes to tame high inflation will continue. ""We're going to have to see convincing evidence across the board, headline and other measures of core inflation, all coming down convincingly before we'll be able to feel like we're doing our job,"" Bullard said during a live ""Squawk Box"" interview. That was similar to earlier comments from Bullard and other Fed leaders. Bullard said Tuesday he was confident that the U.S. economy could achieve a ""soft landing."" Meanwhile, San Francisco Fed President Mary Daly said the central bank's work to tame inflation is ""far from done,"" while Chicago Fed's Charles Evans said there's a chance for a smaller rate hike at the next monetary policy meeting.Traders shook off anxiety that House Speaker Nancy Pelosi's visit to Taiwan could further strain already tense U.S.-China relations. China had spent weeks warning her not to make the trip. Markets fell further after three Federal Reserve presidents hinted that further rate hikes would be necessary to combat high inflation.""Despite the fact most of today's attention is still riveted on the Federal Reserve and its ongoing fight to bring inflation under control, many economic policies have already embarked on a new easing cycle,"" said The Leuthold Group's Jim Paulsen. ""The prospect of lower inflation is not only helping to usher in a new easing cycle but is apt to stoke a private-sector confidence revival that has untapped potential.""Stock picks and investing trends from CNBC Pro:Traders are also anticipating another batch of second-quarter earnings. Lucid Group and Spirit AeroSystems report after the bell. In economic data, investors this week are awaiting PMI data out Wednesday. They will also be watching the July nonfarm payrolls report, due Friday. Stocks rise at market open Stocks were higher at Wednesday's open, rebounding after two days of losses. The S&P 500 gained 0.73%, the Nasdaq Composite rose 1.19% and the Dow Jones Industrial Average increased 221.31 points, or 0.68%. — Carmen ReinickeOPEC+ set to increase oil production by tiny amount OPEC and its allies on Wednesday agreed to raise oil production by a small amount, 100,000 barrels per day, in response to President Joe Biden's trip to Saudi Arabia last month. During the visit, Biden had aimed to persuade the group's leader to pump more oil to help the U.S. economy and global supply. The miniscule raise is seen as a rebuff. — Carmen ReinickeStarbucks shares tick up after earnings release Shares of Starbucks gained nearly 2% in premarket trading after the coffee chain posted quarterly earnings Tuesday after the bell. The company beat expectations on earnings and revenue, boosted by U.S. demand for cold drinks even amid high inflation. ""We had actually record customer counts and record average weekly sales,"" during the last quarter, Rachel Ruggeri, Starbucks chief financial officer, said on CNBC's ""Squawk Box."" — Carmen ReinickeModerna rises after beating earnings expectationsShares of Moderna rose nearly 4% in premarket trading after the covid-19 vaccine maker posted quarterly results that beat Wall Street's expectations for both profit and revenue. In addition, the company announced $3 billion in share buybacks, and maintained its full-year outlook.— Carmen ReinickePotential earnings revisions are a risk for second half, RBC's Calvasina says This earnings season, results have generally come in higher than Wall Street's expectations, showing that companies are faring current economic conditions better than analysts hoped, RBC head of U.S. equity strategy Lori Calvasina wrote in a Wednesday note. ""The good news for the US equity market is that evidence of resilience continues to be seen in corporate earnings,"" Calvasina said. ""The bad news for the US equity market is that the possibility of further downward earnings revisions remains a risk as we get deeper into the 2 nd half of the year.""So far, estimates for earnings and revenue in the second half of 2022 and for the full-year 2023 have come down. Still, the strength of corporate earnings this quarter may suggest that any upcoming economic downturn will be short and shallow, according to Calvasina. That's good for stocks now, but could set them up for further volatility. ""That's been supportive of stock prices over the past few weeks, but going forward it also tells us that the rally in stocks is fragile given the possibility of further downward earnings revisions as 2023 comes into view,"" she said. — Carmen ReinickeCVS gains on earnings beatShares of CVS Health rose more than 3% in premarket trading after the company reported better-than-expected quarterly earnings before the opening bell. The company also lifted its earnings outlook for the year, saying health services is helping boost sales. — Carmen ReinickePelosi leaves TaiwanHouse Speaker Nancy Pelosi left Taiwan on Wednesday after a visit that increased tensions with China and rattled financial markets a bit.Pelosi met with Taiwan President Tsai Ing-wen on Wednesday. China, which considers the disputed island part of its territory, increased military drills in the Taiwan strait amid her visit. The S&P 500 is down about 1% this week as traders worried about the ramifications of Pelosi's trip for China relations. But the market was set for a bit of a relief rally on Wednesday following her departure.—John MelloyAMD shares fall on weak revenue guidanceShares of AMD traded 5% lower in the premarket after the chipmaker issued third-quarter revenue guidance that was below analyst expectations. AMD said it expects $6.7 billion in revenue for the third quarter, below a Refinitiv forecast of $6.82 billion.The disappointing guidance overshadowed better-than-expected earnings and revenue for the second quarter. —Fred ImbertEuropean markets mixed as cautious sentiment persists; Avast up 42%European stocks were mixed on Wednesday, continuing the cautious regional trend this week.The pan-European Stoxx 600 slipped 0.2% in early trade, with autos falling 1.5% while tech stocks gained 1.2%.It's a busy day for earnings in Europe, with Commerzbank, SocGen, BMW, Banco BPM, Siemens Healthineers, Veolia and Wolters Kluwer among the companies reporting before the bell.Shares of Czech cybersecurity firm Avast soared 42% after the U.K.'s competition regulator provisionally cleared its $8.6 billion sale to U.S. peer NortonLifeLock.— Elliot SmithFocus on data, not what Fed speakers are saying, Art Hogan saysDespite the ""parade of Fed speakers,"" that's not what investors should focus on, according to Art Hogan, chief market strategist at B. Riley Financial.""I think that investors have to pay more attention to what the data is telling us than what every individual Fed speaker, whether they're a voter or not, has to say about what our expectations should be,"" Hogan told CNBC's ""Squawk Box Asia.""Still, he said Fed officials have been able to shift expectations for where Fed policy is heading.St. Louis Federal Reserve President James Bullard on Tuesday said the central bank will need to keep hiking rates, and the Fed funds rate likely will have to go to 3.75%-4% by the end of 2022. San Francisco Fed President Mary Daly said ""our work is far from done"" in fighting inflation, while Chicago Fed President Charles Evans said another large rate hike is possible, though he hopes it can be avoided.After last week's meeting, some expected the Fed would continue hiking to reach 3.25%-3.5% before pivoting in 2023, Hogan said.""I think the parade of Fed speakers this week has done a pretty good job of pulling that back, tamping down those expectations,"" he said.— Abigail NgThese stocks are poised for a comeback if inflation peaks, Jefferies saysA slowdown could be on the horizon, and more earnings downgrades ahead have been predicted. If inflation also peaks, as some analysts expect it to, that mix of factors will favor one class of stocks, Jefferies says.Jefferies produced a screen of such stocks that investors can buy, based on a list of metrics which include high profitability, reasonable valuations and good cashflows. Pro subscribers can read the story here.— Weizhen TanPayPal rises on earnings, share buyback announcementPayPal shares soared by more than 11% after hours. The payments company beat analysts' earnings and revenue estimates for the second quarter and issued upbeat full-year guidance. PayPal also announced a $15 billion share repurchasing program.Stock buybacks provide a way for companies to boost their per-share earnings and enhance the value of their stock, particularly while the market across the board suffers steep price declines this year. The company kicked off a $10 billion program four years ago.Elliott Management said it has a $2 billion stake in the payments giant. PayPal announced that it entered an information-sharing agreement on value creation with the activist investor.— Tanaya MacheelDespite Fedspeak about fighting inflation, an ‘easing cycle’ is emerging says Leuthold’s Jim PaulsenLeuthold Group chief investment strategist Jim Paulsen said that despite the Federal Reserve's ""ongoing lip service toward fighting inflation"" by tightening monetary policy, there are several factors that suggest the market may be entering an ""emerging easing cycle.""Bond yields have achieved a sizable rate cut, the dollar is finally rolling over and junk spreads have pulled back, he said in a note to investors late Tuesday. ""The media, policy officials, and investors focus primarily on the war against inflation and how aggressively the Fed will need to keep hiking rates,"" Paulsen said. ""Yet, with real economic growth already reduced to a crawl and evidence building that inflation is easing, the case for further Fed tightening at its September meeting is rapidly falling apart.""""Investors should place appropriate weight on the leading nature of economic policies,"" he added. ""Tightening today means lower real and nominal growth tomorrow.""— Tanaya MacheelMatchGroup shares tumble after hoursShares of the dating app operator Match Group tumbled as much as 23% after the company reported revenue of $795 million for the second quarter, compared with FactSet estimates of $803.9 million. Match also issued weak guidance around adjusted operating income and revenue for the current quarter.— Tanaya Macheel",Stocks rebound after a two-day slide as traders look past U.S.-China tension.
"OPEC has refused to switch to bigger output increases as group sources have cited a lack of spare capacity among members to add more barrels as well as the need for further cooperation with Russia as part of the wider OPEC+ group.Dado Ruvic | ReutersOPEC+ is set to raise oil output by a tiny 100,000 barrels per day in what analysts described as an insult to U.S. President Joe Biden after his trip to Saudi Arabia last month to persuade OPEC's leader to pump more to help the U.S. and global economy.The increase, equivalent to 86 seconds of global oil demand, comes after weeks of speculation that Biden's trip to the Middle East and Washington's clearance of missile defence systems sales to Riyadh and the United Arab Emirates will bring in more oil.An OPEC+ document showed the group was set to raise output by 100,000 bpd from September and two sources said it has been effectively rubber-stamped by a close-door meeting.""That is so little as to be meaningless. From a physical standpoint it is a marginal blip. As a political gesture it is almost insulting,"" said Raad Alkadiri, managing director for energy, climate, and sustainability at Eurasia Group.OPEC and its allies led by Russia have been previously increasing production by about 430,000-650,000 bpd a month although they have struggled to meet full targets as most members have already exhausted their output potential.The United States has put OPEC leaders Saudi Arabia and United Arab Emirates under pressure to pump more oil to help rein in prices boosted by rebounding demand and Moscow's invasion of Ukraine.U.S. and Western sanctions on Russia have caused prices of all types of energy to soar, resulting in inflation at multi-decade highs and central bank interest rate hikes.Biden travelled to Riyadh last month to mend ties with Saudi Arabia, which collapsed after the murder of journalist Jamal Khashoggi four years ago.U.S. inflation hit 40-year highs this year and threatens Biden's approval ratings unless gasoline prices fall.Saudi de-facto ruler, Crown Prince Mohammed bin Salman, whom Western intelligence accused of being behind the Kashoggi murder - which he denies - also travelled to France last month as part of efforts to rebuild ties with the West.On Tuesday, Washington approved $5.3 billion worth of defensive missile sales to the UAE and Saudi Arabia but it has yet to roll back on its offensive weapon sales ban to Riyadh.OPEC has refused to switch to bigger output increases as group sources have cited a lack of spare capacity among members to add more barrels as well as the need for further cooperation with Russia as part of the wider OPEC+ group.Benchmark Brent oil futures jumped by around $3 per barrel on OPEC's decision on Wednesday, trading close to $102 per barrel.By September, OPEC+ was meant to have wound down all of the record production cuts it implemented in 2020 after the pandemic slashed demand.By June, however, OPEC+ was almost 3 million barrels per day below its quotas as sanctions on some members and low investment by others crippled its ability to boost output.Only Saudi Arabia and the UAE are believed to have some spare capacity left to increase production.French President Emmanuel Macron has said he had been told that Saudi Arabia and the UAE had very limited ability to increase oil production.",OPEC+ set to approve minuscule oil output rise in rebuff to Biden.
"A.P. Moller-Maersk, is one of the world's biggest container shippers with a market share of around 17%, and is widely seen as a barometer of global trade.Andia | UIG via Getty ImagesAP Moller-Maersk on Wednesday predicted a slowdown in global shipping container demand this year amid weakening consumer confidence and supply chain congestion.The Danish shipping and logistics company — one of the world's largest and a broad barometer for global trade — said it loaded 7.4% fewer containers onto ships in the second quarter when compared to the same period in 2021, prompting it to revise the full-year outlook for its container business.Maersk now expects demand to be at the lower end of its range, between -1% and 1% in 2022, as rising inflation and energy prices darken the global economic outlook.""Geopolitical uncertainty and higher inflation via higher energy prices continued to weigh on consumer sentiment and growth expectations,"" the company said in a statement.""Given this background, in 2022 global container demand is now expected to be at the lower end of the -1% to +1% forecasted range,"" it said.Stockpiles build-upMaersk warned that the slowdown was especially pronounced in Europe, where stockpiles have been building up at ports and in warehouses as consumer demand wanes.Russia's war in Ukraine and Covid-19 lockdowns in China have only exacerbated such congestion woes, it added.""In Europe, supply chain congestion remained as retailers and manufacturers kept containers in ports and warehouses due to weak final demand. Port lockdowns in China due to the Covid-19 zero-tolerance policy as well as consequences from the war in Ukraine also caused strains in key areas of the logistics network,"" the company said.Continued congestion and dislocation of supply and demand fundamentals in the logistics industry increases the uncertainty surrounding the outlook for freight rates.It comes as Maersk confirmed forecast-beating second-quarter results Wednesday as freight rates soar.The company said trade congestion had lifted global freight prices, creating ""exceptional market conditions"" for the logistics business and prompting it to raise its profit outlook for the year.Shipping company Maersk warned that stockpiles have been building up at ports and in warehouses amid waning consumer demand.Picture Alliance | Picture Alliance | Getty ImagesMaersk now expects to record underlying operating profits of around $31 billion in 2022, up from an earlier estimate of $24 billion. Meantime, it anticipates underlying earnings before interest, tax, depreciation and amortization (EBITDA) of $37 billion, up from $30 billion.In the second quarter, the company's revenue rose 52% year-on-year to $21.7 billion while underlying operating profits more than doubled to $8.9 billion.The container shipping industry at large has benefited from higher freight rates as companies have had to pay record sums to transport their goods amid a plethora of market disruptions. On Thursday, shipping group Hapag-Lloyd AG raised its profit forecast after it said average freight rates rose around 80% in the first half of the year.Maersk said that while freight rates had recently softened slightly, they remain at historic highs, and ongoing congestion issues pointed to continued fluctuation in prices.""The continued congestion and dislocation of supply and demand fundamentals in the logistics industry increases the uncertainty surrounding the outlook for freight rates,"" the company said.","Shipping firm Maersk, a barometer for global trade, warns of weak demand and warehouses filling up."
"The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - The Maritime and Port Authority of Singapore (MPA) said on Wednesday it will suspend Glencore Singapore's bunkering licence for two months after the company was found to have supplied contaminated fuel to ships.The suspension will take effect from Aug. 18, the MPA said in a statement.Glencore declined to comment.Register now for FREE unlimited access to Reuters.comMPA found no evidence that Glencore or PetroChina had intentionally contaminated the high-sulphur fuel oil (HSFO).Between March 21-23, the fuel oil testing laboratory engaged by Glencore had reported results showing that samples taken from the fuel oil parcels that Glencore purchased contained concentrations of chlorinated organic compounds (COCs) ranging from approximately 2,000 to 15,000 parts per million (ppm).MPA's investigation found that despite this, Glencore continued to supply bunkers blended with the contaminated fuel to vessels in the Singapore port from March 22 to April 1.By doing so, Glencore contravened the terms and conditions of its bunkering licence in failing to ensure that no bunkers supplied by it were contaminated.A total of 24 vessels were supplied with the affected fuel by Glencore during the period, and at least three vessels have reported issues with their fuel pumps and engines, MPA added.MPA also said it has decided not to take any action against PetroChina. The investigation found that PetroChina stopped delivery of the contaminated fuel promptly by March 19, once it received its own test results showing that the fuel it supplied was contaminated with COC.PetroChina was not immediately available to comment.Glencore and PetroChina supplied the affected fuel to about 200 ships, and 80 of these ships had reported various issues with their fuel pumps and engines, MPA said in April.The contaminated fuel came from a tanker that loaded the oil from Khor Fakkan port in the United Arab Emirates, MPA said in May.Following the incident, the MPA has included COC for testing under both the Bunker Quality Inspection System (BQIS) and the Intensified Bunker Quality Checks (IBQC).MPA and the Singapore Shipping Association (SSA) will co-chair an industry expert group to establish a list of chemicals to be tested and their corresponding concentration limits, the MPA added.Register now for FREE unlimited access to Reuters.comReporting by Jeslyn Lerh; Editing by David Evans, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",Glencore Singapore bunkering licence suspended over contaminated fuel.
"For parents already stretching budgets to pay for groceries and gasoline, stocking up on school supplies will be a little harder this year.""Back-to-school shopping is stressful even in the best economic times,"" said Matt Schulz, the chief credit analyst at LendingTree.""With inflation running rampant and supply chain issues lingering, these are definitely not the best of times,"" he added. ""Lots of families are going to have to make some real sacrifices and have some uncomfortable conversations this back-to-school shopping season.""More from Personal Finance:Anxiety about recession as inflation cuts spending powerCredit card balances jump as inflation outpaces wage growthWhat a recession could mean for youFamilies are already struggling this season amid rising prices, several recent studies show.In 2022, total back-to-school spending is expected to match last year's record high of $37 billion, according to the National Retail Federation. Families with children in elementary through high school plan to spend an average of $864 on school supplies, $168 more than in 2019, the NRF found.There is also less wiggle room when it comes to the required items, or at least it often feels that way. ""Families consider back-to-school and college items as an essential category,"" said Matthew Shay, the NRF's president and CEO.Customers shop at a Walmart in Houston on Aug. 4, 2021.Brandon Bell | Getty ImagesA separate report from Deloitte found that 37% of parents will spend even more this year — up to $661 per child. However, 75% of parents are stressed about paying the tab, up 12% from last year, according to LendingTree.More than one-third, or 37%, of parents with school-age children said they are unable to afford back-to-school shopping due to inflation, and nearly half said they will take on debt shopping for their kids, another study by Credit Karma found.How to save on back-to-school supplies""Americans are very resourceful,"" said Beverly Harzog, a consumer finance analyst at U.S. News & World Report.In addition to shopping around, employing a number of money-saving hacks — such as taking advantage of upcoming sales tax holidays and using credit card rewards or cash-back bonuses — can lower the total cost, she said.If you qualify, Harzog also recommends applying for a new card with a sign-up bonus or offering a 0% intro APR for 12 to 21 months and then paying it off over the course of the year without interest charges.""That's a better win if you do a little bit of strategizing,"" she said.Otherwise, swap gently used supplies with neighbors, Harzog, who often gave and received winter coats this way, suggested.As a general rule, stick to only buying what you need right now, advised Julie Ramhold, a consumer analyst at DealNews.com.Students may have to start the school year with notebooks, binders, paper, pens and pencils, but other purchases, such as a new backpack or lunchbox, can be put off until they go on sale.If you don't need a new laptop or headphones right away, Ramhold recommends waiting until Labor Day or even Black Friday when the discounts on electronics will be greater.A price-tracking browser extension like Camelcamelcamel or Keepa can help to keep an eye on price changes and alert you when the price drops.Then, use a cash-back site like CouponCabin.com to earn money back on online purchases, including back-to-school supplies from Target, Walmart and Macy's.""As long as it's a good deal, go for it,"" Ramhold said.Subscribe to CNBC on YouTube.","Parents are spending a lot more on back-to-school shopping, even if it means going into debt."
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Shares of AMTD Digital on Wednesday extended an eye-popping rally fueled by retail investors this week that briefly took the Hong Kong-based fintech's market value past that of Facebook-owner Meta Platforms.AMTD's shares rose another 6% in premarket trading on Wednesday. The company's market capitalization surged above $450 billion in a 244% jump on Tuesday, reminding investors of the meme stock mania last year that drove record rallies in shares of companies such as GameStop (GME.N) and AMC (AMC.N).The stock has soared about 21,000% since its July IPO, when it listed at a price of $7.80.Register now for FREE unlimited access to Reuters.com""It is clearly the newest meme stock with bands of retail traders purchasing the stock at the same time, pushing the price sharply higher,"" said Victoria Scholar, head of investment at Interactive Investor.Scholar added that the bullish momentum was being exacerbated by short covering to offset losses by hedge funds with bearish positions on the stock.AMTD Digital was the most-mentioned stock on Reddit.com, the social media platform central to the meme stock craze of 2021. read more The fintech company, which provides loans and services to startups in exchange for fees, has a low float and is tightly controlled by parent company AMTD Idea (AMTD.N).AMTD Idea's shares also surged 27.9% after closing Tuesday with a market value of $2.6 billion.AMTD Digital said on Tuesday there was no material change or event related to the company's business and operating activities since the IPO date and that it was monitoring the share volatility.There has been a similar surge in some other recently listed U.S. companies, including Getty Images which jumped over 200% since its debut on July 25.""There is no quantifiable reason for the behaviour, or trajectory, as moves are sentiment driven, with these feelings being based on little information,"" said Sophie Lund-Yates, lead equity analyst at Hargreaves Lansdown.Register now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar and Medha Singh in Bengaluru; Editing by Saumyadeb ChakrabartyOur Standards: The Thomson Reuters Trust Principles.",Meme stock traders have a new favorite: Hong Kong's AMTD Digital.
"Politics August 3, 2022 / 9:01 AM / CBS News Primaries test Trump's hold on Republican Party Primaries test Trump's hold on Republican Party 02:15 Arizona House Speaker Rusty Bowers, a Republican who testified at a House Jan. 6 committee hearing about former President Donald Trump's efforts to overturn the 2020 election, lost his bid in Tuesday's GOP primary for a state Senate seat to a Trump-backed candidate, CBS News projects.Former state Sen. David Farnsworth was leading with 64% of the vote to Bowers' 36% as of Wednesday morning, according to the Arizona secretary of state's office. Trump supported Farnsworth in the race, and blasted Bowers as a ""RINO coward"" at a rally last month.Bowers testified on June 21 before the House select committee investigating the Jan. 6 attack on the U.S. Capitol. The hearing focused on a plan by Trump's allies to put forward alternate electors that supported Trump in seven battleground states in the 2020 election that President Biden won, including Arizona. Bowers resisted that effort, telling the committee that the scheme to replace Mr. Biden's electors with a fake slate for Trump was a ""tragic parody."" Rusty Bowers, Arizona state House Speaker, testifies as the House select committee investigating the Jan. 6 attack on the U.S. Capitol on Tuesday, June 21, 2022. Jacquelyn Martin / AP Earlier this year, Bowers helped block a bill to empower the legislature to choose its own electors, regardless of how the people voted. Bowers has been a Republican for 30 years. But ahead of a visit by Trump to Arizona in July, the state Republican Party voted to censure him. Kelli Ward, chair of the Arizona GOP, announced the condemnation by the panel on Twitter, saying Bowers is ""no longer a Republican in good standing & we call on Republicans to replace him at the ballot box in the August primary.""In an interview ahead of Tuesday's primary, Bowers' told CBS News' Ed O'Keefe said he had heard from people who called the censure ahead of a visit by Trump ""cheap theatrics."" But he admitted that the attacks hurt. ""Sure it hurts, but knowing who they are, and the character that they've displayed over the last few years,"" Bowers said. ""It's not like it's a surprise.""Bowers testified that after Trump and his allies made baseless claims of voter fraud in Arizona and called to put forward fake electors, Trump supporters began descending on his neighborhood and family, claiming he was a pedophile and a corrupt politician.  He said his family had begun to dread Saturdays, when the supporters descended on his neighborhood. ""At the same time ... we had a daughter who was gravely ill, who was upset by what was happening outside and my wife — that is a valiant person, very strong, quiet, very strong woman,"" he said, growing emotional. ""So it was disturbing.""Bowers' daughter died in January 2021. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Rusty Bowers, Arizona House speaker who testified at Jan. 6 hearing, loses GOP primary for state Senate seat."
"People wearing protective face masks make their way on Syntagma square after the Greek government imposed mandatory COVID vaccinations for people aged 60 and over, in Athens, Greece, December 1, 2021. REUTERS/Louiza Vradi/File PhotoRegister now for FREE unlimited access to Reuters.comATHENS, Aug 3 (Reuters) - The head of Greek intelligence told a parliamentary committee his agency had spied on a journalist, two sources present said, in a disclosure that coincides with growing pressure on the government to shed light on the use of surveillance malware.The committee's closed-door hearing last week was called after the leader of the socialist opposition PASOK party lodged a complaint with top court prosecutors over an attempted bugging of his mobile phone with surveillance software. read more PASOK leader Nikos Androulakis made his complaint amid growing concern among European Union officials about spyware merchants and the use of surveillance software. read more Register now for FREE unlimited access to Reuters.comAt the July 29 hearing, Panagiotis Kontoleon, chief of the EYP intelligence service, told parliament's institutions and transparency committee that his service had spied on Thanasis Koukakis, a financial journalist who works for CNN Greece, two lawmakers present at the hearing told Reuters.""He admitted the surveillance, absolutely,"" one of the lawmakers present at the hearing told Reuters on Wednesday, declining to be identified because the meeting was private.Kontoleon declined to comment when contacted by Reuters.Government spokesman Giannis Oikonomou told Reuters that Greek authorities do not use the spyware allegedly deployed in the hacking of Koukakis and do not do business with companies selling it.""The government has nothing to hide and has called on the justice system to investigate the cases thoroughly,"" he said.""Without crossing to the extreme of technophobia, such malware does pose a threat and must be tackled efficiently.""Spy services in democracies face constant pressure to be more transparent, including from lawmakers seeking to prevent abuses and improve performance, public concern over surveillance by authorities, and, in some countries, a need by agencies to make their work known to widen avenues of recruitment.NEED FOR SECRECYBut agencies say they much balance those demands with the need for secrecy, arguing that much of their work to keep their countries safe should remain classified to protect sources.In April, a Greek prosecutor began an investigation into an allegation by Koukakis that his smartphone had been infected by surveillance software. read more Last year when the allegation was reported by Greek media, left wing SYRIZA, Greece's largest opposition party, asked for the parliamentary committee to convene to look into the matter.Its request was turned down by the committee chairman. But after Androulakis submitted his complaint to prosecutors in late July, a request by both SYRIZA and PASOK for the committee to convene was accepted and a hearing followed.SYRIZA has formally asked the prime minister to shed light on both cases which, it says, involve the use of Predator surveillance software, citing major issues for democracy and citizens' privacy rights.Predator spyware can extract passwords, files, photos and contacts and activate a phone's camera and microphone, enabling surveillance of conversations nearby.At the hearing, EYP chief Kontoleon, who reports directly to the prime minister, noted that EYP performs its work not only based on its own information but at times after tips or requests by foreign intelligence services, the two sources said.The EU considers the use of spyware against journalists unacceptable. read more Journalist Koukakis, whose work has included investigative reporting on financial crimes, remains baffled why he was bugged: ""I am surprised that areas that I cover as a reporter, economic policy and the banking system, can be a national security threat,"" he told Reuters.Register now for FREE unlimited access to Reuters.comReporting by George Georgiopoulos, Editing by William MacleanOur Standards: The Thomson Reuters Trust Principles.",Greek intelligence service admits spying on journalist - sources.
"Register now for FREE unlimited access to Reuters.comJOHANNESBURG, Aug 3 (Reuters) - South African power utility Eskom said it would implement ""Stage 2"" scheduled power cuts from 1600 until midnight local time (1400 to 2200 GMT) on Wednesday and Thursday due to a shortage of generation capacity.Eskom said in a statement that there had been a delay returning several generation units to service, while others had broken down.Locals walk past electricity pylons during frequent power outages from South African utility Eskom, caused by its aging coal-fired plants, in Soweto, South Africa, July 3, 2022. REUTERS/Siphiwe SibekoThe struggling state-owned company suspended scheduled electricity outages 11 days ago, following several weeks of regular power cuts that prompted public anger and hampered businesses.Eskom has an ageing power station fleet comprised mainly of coal plants that are highly prone to faults.Government efforts to add additional capacity have been slow, and this year a record among of electricity is set to be cut from the grid. read more Register now for FREE unlimited access to Reuters.comReporting by Alexander Winning and Bhargav Acharya
Editing by Olivia Kumwenda-MtamboOur Standards: The Thomson Reuters Trust Principles.",South Africa's Eskom to resume power cuts after 11-day pause.
"St. Louis Federal Reserve Bank President James Bullard speaks at a public lecture in Singapore October 8, 2018. REUTERS/Edgar SuRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - The U.S. Federal Reserve will be steadfast in raising interest rates to bring inflation running at four-decade highs back to the central bank's 2% target, St. Louis Fed President James Bullard said on Wednesday.""We are going to be tough and get that to happen,"" Bullard said in an interview with broadcaster CNBC. ""I think we can take robust action and get back to 2%.""Bullard, who also repeated his assertion on Tuesday the Fed will also probably have to keep rates ""higher for longer"" in order to gather enough evidence that inflation is coming down in a sustainable way.Register now for FREE unlimited access to Reuters.com""We're going to need to see convincing evidence across the board, headline and other measures of core inflation, all coming down convincingly before we'll be able to feel like we're doing enough.""Fed policymakers across the board on Tuesday signaled the central bank remains resolute on getting U.S. interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s. read more The central bank last week raised its benchmark overnight interest rate by three-quarters of a percentage point for a second straight meeting, with Fed Chair Jerome Powell indicating another ""unusually large"" rate hike may be appropriate again in September if inflation does not ease enough.Register now for FREE unlimited access to Reuters.comReporting by Lindsay Dunsmuir; Editing by Andrew Heavens and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.",Fed's Bullard: We're going to be tough to get inflation back to 2%.
"A man watches a CCTV news broadcast, showing a fighter jet during joint military operations near Taiwan by the Chinese People's Liberation Army's (PLA) Eastern Theatre Command, at a shopping center in Beijing, China, August 3, 2022. REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - Taiwan pledged on Wednesday to step up security against possible disruptions by ""overseas forces"" including cyber attacks as tensions with China rise following the visit to the self-ruled island by U.S. House of Representatives Speaker Nancy Pelosi.China demonstrated its outrage over the highest-level U.S. visit in 25 years to the island Beijing claims as its own with a burst of military activity in surrounding waters, summoning the U.S. ambassador in Beijing and halting several agricultural imports from Taiwan. read more Pelosi arrived in Taiwan on Tuesday and left on Wednesday after pledging solidarity with the island and hailing its democracy.Register now for FREE unlimited access to Reuters.comTaiwan Cabinet spokesman Lo Ping-cheng told a media briefing authorities had stepped security at key infrastructure including power plants and airports and increased the cyber security alertness level across government offices.Lo said Taiwan expects to be the target in coming days of increased ""psychological warfare"", which describes influence campaigns including misinformation to sway public opinion.""We are seeing psychological warfare that is stronger than ever before, and it will intensify in the coming days,"" Lo said.Taiwan officials have repeatedly warned about what they see as a Chinese campaign to weaken people's support for the government.China has never renounced using force to bring Taiwan under its control, which it has said is the most important issue in its relations with the United States. Taiwan rejects China's sovereignty claims and vows to defend itself.Lo urged the press in Taiwan not to act as a ""propaganda tool"" for Beijing and said they should be careful when citing reports by Chinese state media.Shortly after Pelosi's arrival late on Tuesday, Chinese state media reported China's Su-35 fighter jets were crossing the sensitive Taiwan Strait separating the island from China, before Taiwan's military called the report false.Digital minister Audrey Tang said cyber attacks on Taiwan government units on Tuesday surpassed 15,000 gigabits, 23 times higher than the previous daily record.Several government websites including the presidential office were subject to overseas cyber attacks, some of which authorities said were launched by China and Russia. read more Officials said planned Chinese military drills, starting from Thursday noon to midday on Sunday, would affect all 18 international flight routes near the capital Taipei.They said the impact, however, would be limited, with slight travel time increases as planes fly alternative routes.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Editing by Andrew Heavens and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.",Taiwan expects increased 'psychological warfare' after Pelosi visit.
"Crime August 3, 2022 / 8:00 AM / CBS News Police: McDonald's employee shot by son of customer served cold fries Police: McDonald's employee shot by son of customer served cold fries 02:40 A 23-year-old man is in critical condition after, police say, he was shot while on the job at a McDonald's in Brooklyn, CBS New York's Natalie Duddridge and Alecia Reid report.The shooting happened at around 7 p.m. Monday outside the eatery. Some of the victim's colleagues described him as a good guy, and said the shooting left them on edge about going back to work. ""That something could happen like that over something so simple as food, that's crazy,"" one person in the neighborhood said. ""He was working, at work, this happened at work? It's kind of sad, because he's trying to make a living,"" another person remarked. It started when a customer, who sources told CBS2 was angry her fries were cold, approached the worker, identified as Matthew Webb, 23, and started arguing with him. The argument moved outside and that's when, sources said, the woman called over her 20-year-old son to ""take care of the problem."" He then pulled out a gun and shot Webb in the neck. Webb was rushed to a hospital and the son was taken into custody. ""Cold French fries should not result in a shooting. At the end of the day, it's gun violence all over this country, particularly in this city, that has to be brought under control, and fast food restaurants are not the safe havens they used to be,"" attorney Sanford Rubenstein told Reid. Rubenstein represents the family of Kristal Nieves, the 19-year-old who was killed in January while working the overnight shift at an East Harlem Burger King. The suspect, who was later arrested, allegedly demanded money, then shot and killed her.""Her family is not doing well. It's a tragedy they will never get over,"" Rubenstein said.There have been other attacks against fast food workers this year. In March, an East Harlem McDonald's employee was stabbed multiple times with a box cutter while trying to break up a fight, and in July, three women violently attacked Bel Fries workers with glass bottles when told extra dipping sauce would cost them less than $2.""I'm deeply concerned. My children have come to this McDonald's over the years, and from time to time I have meetings in this McDonald's,"" said Rev. Conrad Tillar. ""It's sad. It shows that we're in a level of crisis in this city.""""My daughter wants to work in fast food. She's 17, and I'm scared of things like that. It's horrible,"" Alison Mason said. ""You could be angry and say, 'Hey, I didn't get my order right' — but to shoot someone?""Duddridge spoke with a man who works at another fast food spot. He said he's thankful his boss recently installed a glass barrier, but staffers are still scared. ""One of our workers, he called me today, he don't want to work no more ... because of this. They said they're scared,"" Habib Sayed said. ""That's why I don't want to work at night. I told my boss, if you want to pay me like $100 an hour, I'm not going to work, because it's crazy."" Police said there didn't appear to be any previous connection between the employee and the suspect. Staff at the McDonald's said there is security, but the hours were recently scaled back.  Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",McDonald's employee Matthew Webb shot in neck after argument sources say was about cold fries.
"The logo of cryptocurrency platform Solana.Jakub Porzycki | NurPhoto via | Getty ImagesNearly 8,000 digital wallets have been drained of just over $5.2 million in digital coins including solana's sol token and USD Coin (USDC), according to blockchain analytics firm Elliptic. The Twitter account Solana Status confirmed the attack, noting that as of Wednesday morning, approximately 7,767 wallets have been affected by the exploit. Elliptic's estimate is slightly higher at 7,936 wallets.Solana's sol token, one of the largest cryptocurrencies after bitcoin and ether, fell about 8% in the first two hours after the hack was initially detected, according to data from CoinMarketCap. It's currently down about 1%, while trading volume is up about 105% in the last 24 hours.Starting Tuesday evening, multiple users began reporting that assets held in ""hot"" wallets — that is, internet-connected addresses, including Phantom, Slope and Trust Wallet — had been emptied of funds.Phantom said on Twitter that it's investigating the ""reported vulnerability in the solana ecosystem"" and doesn't believe it's a Phantom-specific issue. Blockchain audit firm OtterSec tweeted that the hack has affected multiple wallets ""across a wide variety of platforms.""Elliptic chief scientist Tom Robinson told CNBC the root cause of the breach is still unclear, but ""it appears to be due to a flaw in certain wallet software, rather than in the solana blockchain itself."" OtterSec added that the transactions were being signed by the actual owners, ""suggesting some sort of private key compromise."" A private key is a secure code that grants the owner access to their crypto holdings.The identity of the attacker is still unknown, as is the root cause of the exploit. The breach is ongoing.""Engineers from multiple ecosystems, with the help of several security firms, are investigating drained wallets on solana,"" according to Solana Status, a Twitter account that shares updates for the entire solana network.The solana network is strongly encouraging users to use hardware wallets, since there's no evidence those have been impacted.""Do not reuse your seed phrase on a hardware wallet - create a new seed phrase. Wallets drained should be treated as compromised, and abandoned,"" reads one tweet. Seed phrases are a collection of random words generated by a crypto wallet when it is first set up, and it grants access to the wallet.A private key is unique and links a user to their blockchain address. A seed phrase is a fingerprint of all of a user's blockchain assets that is used as a backup if a crypto wallet is lost.The incident comes one day after the $200 million hack of the Nomad blockchain bridge. It's the latest crisis to grip the crypto market in recent weeks.""Four addresses are currently linked to the hacker, a far cry from yesterday's 'decentralized looting,' which involved over 120 individual users,"" said Deutscher. ""This implies that it was a singular party who conducted the SOL exploit, although the specific details remain ambiguous.""The Solana network was viewed as one of the most promising newcomers in the crypto market, with backers like Chamath Palihapitiya and Andreessen Horowitz touting it as a challenger to ethereum with faster transaction processing times and enhanced security. But it's been faced with a spate of issues lately, including downtime in periods of activity and a perception of being more centralized than ethereum. A major outage in June knocked the Solana platform offline for several hours.Ether, the native token of the ethereum blockchain, climbed 6% in 24 hours.","Ongoing solana attack targets thousands of crypto wallets, costing users more than $5 million so far."
"Ford F-150 Lightning at the 2022 New York Auto Show.Scott Mlyn | CNBCDETROIT – Ford Motor's U.S. vehicle sales last month showed notable improvements in volumes and truck availability, as the automotive industry continues to battle through a global shortage of semiconductor chips and other supply chain problems.The Detroit automaker on Wednesday said its new vehicle sales rose 36.6% in July from a year ago, compared to industry sales that were estimated to have declined by 10.5%. Ford's vehicle production and sales were down a year ago more than others due to a fire at one of its chip suppliers in Japan that forced production cuts during the first half of 2021.Sales of Ford's profitable F-Series pickups hit 63,341 in July – marking the first-time units have topped 60,000 this year. The sales were up 21.1% compared to a year ago and up roughly 10% from the previous month.Ford also said its share of electric vehicle sales last month hit a record 10.9%, as the company increases production and availability of the F-150 Lightning pickup, Mustang Mach-E crossover and E-Transit van.This story is a developing story. Please continue to check back for updates.","Ford reports big jump in July sales, including for trucks and EVs."
"Brad Pitt and the cast members gather for the premiere of the film 'Bullet Train' in Los Angeles, California, U.S., August 1, 2022. REUTERS/David SwansonRegister now for FREE unlimited access to Reuters.comLOS ANGELES, Aug 3 (Reuters) - Action movie ""Bullet Train"" starring Brad Pitt is pulling into its final stop - cinemas - starting on Wednesday.
The film sees Pitt's hitman character, Ladybug, seemingly taking on his easiest job as he is asked to locate a suitcase on a high-speed train and then disembark.
Unbeknownst to him, he is not the only assassin looking for the case, or for revenge. The other assassins traveling with intent include Lemon (Brian Tyree Henry), Tangerine (Aaron Taylor Johnson), Prince (Joey King), Hornet (Zazie Beetz) and Wolf (Bad Bunny).Pitt said he read the script while under lockdown during the COVID-19 pandemic and found himself laughing.""It's just like the salve for what we needed,"" Pitt said at the movie's red-carpet premiere in Hollywood. ""Now it's summer, we can be out and release it, and it just feels fun.""Register now for FREE unlimited access to Reuters.comThe movie, directed by ""Deadpool 2"" filmmaker David Leitch, was filmed while pandemic lockdowns and extensive COVID prevention protocols were still in place.""We had the outer circle and people could only be on the train from the inner circle,"" Pitt said in an interview. ""We had to get off the train for the outer circle to come on. It was just like a bit of a Keystone Cop situation.""The film sees Pitt's character go toe-to-toe with the other assassins in high octane and often humorous fight scenes.
Henry, who speaks with a Cockney accent in the film, said the fight sequences with Pitt were ""the most therapeutic thing that ever happened.""""I think that the consensus is everyone left a little bit better after slapping the shit out of Brad, so it was a lot of fun,"" Henry said.Register now for FREE unlimited access to Reuters.comReporting by Lisa Richwine;
Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",Brad Pitt action movie 'Bullet Train' speeds into theaters.
"Register now for FREE unlimited access to Reuters.comJuly 29 (Reuters) - People can pay for a slushie with crypto in the streets of ""Bitcoin Valley,"" a project in the Honduran tourist enclave of Santa Lucia through which the country has entered the digital currency trend.The small town in the mountains, 20 minutes from the capital Tegucigalpa, has become a bitcoin city.Owners of businesses big and small in Santa Lucia are adapting to handle cryptocurrencies as payment, hoping to attract more tourism.Register now for FREE unlimited access to Reuters.com""It will open more opportunities and attract more people who want to use this currency,"" said Cesar Andino, manager of Los Robles shopping square.The ""Bitcoin Valley"" project targets 60 businesses to initially get trained and adopt cryptocurrencies to market their products and services, expecting to spread these practices to more enterprises and nearby areas.The initiative was jointly developed by the Blockchain Honduras organization, the Guatemalan cryptocurrency exchange consortium Coincaex, the Technological University of Honduras and Santa Lucia's municipality.A man checks his cryptocurrencies app during the kick off of the 'Bitcoin Valley' project that seeks to establish a Bitcoin circular economy through the use of cryptocurrencies, in Santa Lucia, Honduras July 28, 2022. REUTERS/Fredy RodriguezRuben Carbajal Velazquez, professor at the Technological University, said ""Santa Lucia's community will be educated to use and manage cryptocurrencies, implementing them in different businesses in the region and generating crypto-tourism.""While some Latin American countries are exploring cryptocurrencies' potential, there are risks.In September 2021, El Salvador adopted bitcoin as legal tender having its own 'Bitcoin Beach' in the surfing hotspot town of El Zonte. read more The Central American country's bet on bitcoin was hampered by the crypto market downturn and skepticism from multilateral lenders and ratings agencies. Its publicly disclosed holdings of $105 million are now worth about $57 million.To deal with volatility, the Honduran ""Bitcoin Valley"" will ""enable merchants to receive instant payments in the local currency, eliminating cryptocurrencies fluctuation risks,"" said Leonardo Paguada, founder of the Block Chain Honduras organization.Critics of bitcoin's expansion have warned that these kind of operations may fuel money laundering and financial instability while enhancing the digital gap, as poorer parts of society may struggle to access the technology.Register now for FREE unlimited access to Reuters.comReporting by Rodolfo Penaroja and Aida Pelaez-Fernandez; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.",Honduras launches 'Bitcoin Valley' in the tourist town of Santa Lucia.
"Every year, millions of tons of plastic waste pour into the ocean, much of coming from about 1,000 hyper-polluting rivers. And with overall waste generation poised to increase over 75% by 2050, the problem is only set to worsen. A number of companies around the world have turned their attention to the problem of river waste, building various barriers, fences, and wheels that help to contain and remove trash as it flows downstream. The approaches range from trash-scooping solar-powered barges to stainless steel fences, and different rivers will necessitate different methods. Here are how three companies, Clearwater Mills, The Ocean Cleanup, and AlphaMERS are approaching the problem.Clearwater Mills' Trash WheelsBaltimore's googly-eyed trash wheels, the first of which debuted in 2014, are one of the original efforts to address river waste. Built by Clearwater Mills, the company's founder John Kellett was inspired to design the wheels after years of seeing trash pouring into the Baltimore Harbor after big storms.""We have Mr. Trash Wheel, Captain Trash Wheel, Professor Trash Wheel and Gwynnda the Good Wheel of the West here in Baltimore,"" Kellett said, citing the names of the anthropomorphized wheels which have become minor social media celebrities in the city. Here's how they work. Containment booms are set up in a V-shape across the river, with rubber skirts that extend about two feet below the water's surface. This catches trash floating downriver and funnels it towards the ""mouth"" of the rotating water wheel, which is powered by the river's current and attached solar panels. As the wheel turns, it powers a conveyor belt that lifts trash and debris out of the river and deposits it into a dumpster. Attached cameras allow the team to monitor how full the dumpsters are.""And when that dumpster's full, we have another floating barge that we bring with an empty dumpster. Take the full one out, slide the empty one in and keep picking up the trash,"" Kellett said. Overall, the four wheels have picked up a total of about 2,000 tons of trash and debris. Sticks and leaves actually make up the bulk of this weight, since plastic is so light, but the haul overall includes about 1.5 million plastic bottles, 1.4 million foam containers, and 12.6 million cigarette butts. Everything is then incinerated in a waste-to-energy facility.Additional trash wheels are planned for Texas, California, and even Panama, where local nonprofit Marea Verde has partnered with Clearwater Mills to build the fifth wheel in the family, named Wanda Díaz. This project is funded by the Benioff Ocean Initiative and the Coca-Cola Foundation, which together are supporting a portfolio of river cleanup projects around the world.The Ocean Cleanup The Ocean Cleanup is probably best known for its efforts to clean the Great Pacific Garbage Patch, an endeavor the company's young founder Boyan Slat started pursuing in 2013 after a TED talk he gave on the topic went viral. Now though, the company is pursuing a dual focus as it's built a series of river cleanup technologies. ""Our goal is to rid the oceans of plastic, and the reason why we look at rivers is because we believe it's the fastest and most cost effective way to prevent further plastic from being emitted to the ocean,"" said Slat. The company's first river cleanup device, called the Interceptor Original, was released in 2019. It's a fully solar-powered barge that operates much like Baltimore's trash wheels, just on a larger scale. Sitting at the mouth of a river, it funnels trash onto a conveyor belt, and automatically distributes the waste across six giant dumpsters.But since this giant interceptor doesn't fit in smaller rivers, the team developed another solution, a standalone floating barrier to capture the waste, and a small, mobile conveyer belt that scoops up the trash and transports it to a dumpster onshore. This system is currently deployed in Kingston Harbour, Jamaica, where Slat says the rivers are too narrow for the Interceptor Original. And for the most severely trash-choked rivers, there's the Trashfence. The concept is simple. A 26-foot high steel fence is anchored to the bed of the river and stops the flow of trash during a big storm. Once the water level recedes, excavators remove the waste. But the onslaught of trash in one of the world's most polluted rivers in Guatemala proved too intense for version 1.0. ""The force of the trash was so high that the trash fence failed, unfortunately,"" Slat said. ""So we're now working on a version two that will hopefully be ready for the next rainy season.""Overall, eight Ocean Cleanup interceptors are currently installed in Indonesia, Malaysia, Vietnam, the Dominican Republic and Jamaica. Slat expects about 20 will be installed by next year, including one in Los Angeles. AlphaMERSIndia-based company AlphaMERS makes another version of a river barrier. With 34 installations in eight different cities, this barrier is relatively low-tech and low-cost. It's much smaller than the Ocean Cleanup's Trash Fence, and not designed for the same extreme trash flow, but it's still pretty heavy duty. Made of stainless steel mesh, the AlphaMERS fence floats a couple feet above the water, and 15 inches below.",Cleaning up the world's plastic-choked rivers.
"St. Louis Federal Reserve President James Bullard said Wednesday that the central bank will continue raising rates until it sees compelling evidence that inflation is falling.The central bank official said he expects another 1.5 percentage points or so in interest rate increases this year as the Fed continues to battle the highest inflation levels since the early 1980s.""I think we'll probably have to be higher for longer in order to get the evidence that we need to see that inflation is actually turning around on all dimensions and in a convincing way coming lower, not just a tick lower here and there,"" Bullard said during a live ""Squawk Box"" interview on CNBC.That message of continued rate hikes is consistent with other Fed speakers this week, including regional presidents Loretta Mester of Cleveland, Charles Evans of Chicago and Mary Daly in San Francisco. Each said Tuesday that the inflation fight is far from over and more monetary policy tightening will be needed.Both Bullard and Mester are voting members this year on the rate-setting Federal Open Market Committee. The group last week approved a second consecutive 0.75 percentage point increase to the Fed's benchmark borrowing rate.If Bullard has his way, the rate will continue rising to a range of 3.75%-4% by the end of the year. After starting 2022 near zero, the rate has now come up to a range of 2.25%-2.5%.Consumer price inflation is running at a 12-month rate of 9.1%, its highest since November 1981. Even throwing out the highs and lows of inflation, as the Dallas Fed does with its ""trimmed mean"" estimate, inflation is running at 4.3%.""We're going to have to see convincing evidence across the board, headline and other measures of core inflation, all coming down convincingly before we'll be able to feel like we're doing our job,"" Bullard said.The rate hikes come at a time with slowing growth in the U.S., which has seen consecutive quarters of negative GDP readings, a common definition of recession. However, Bullard said he doesn't think the economy is really in recession.""We're not a recession right now. We do have these two quarters of negative GDP growth. To some extent, a recession is in the eyes of the beholder,"" he said. ""With all the job growth in the first half of the year, it's hard to say there's a recession. With a flat unemployment rate at 3.6%, it's hard to say there's a recession.""The second half of the year should see reasonably strong growth, though job gains probably will slow to their longer-run trend, he added. July's nonfarm payroll growth is expected to be 258,000, according to Dow Jones estimates.Even with the slowing trend, markets are pricing in another half percentage point rate hike from the Fed in September, though the chances of a third consecutive 0.75 percentage point move are rising. The market then expects future increases in November and December, taking the benchmark fed funds rate to a range of 3.25%-3.5% by the end of the year, below Bullard's target.""We're gonna follow the data very carefully, and I think we'll get it right,"" Bullard said.",Fed's Bullard sees more interest rate hikes ahead and no U.S. recession.
"A man checks his mobile phone as he stands on a busy road in Kolkata, India January 6, 2017. REUTERS/Rupak De ChowdhuriRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 3 (Reuters) - India's government on Wednesday withdrew a controversial data protection and privacy bill which was first proposed in 2019 and had alarmed big technology companies such as Facebook and Google, announcing it was working on a new comprehensive law.The 2019 law had proposed stringent regulations on cross-border data flows and proposed giving the Indian government powers to seek user data from companies, seen as part of Prime Minister Narendra Modi's stricter regulation of tech giants.A government notice said the decision came as a parliamentary panel's review of the 2019 bill suggested many amendments, leading to the need for a new ""comprehensive legal framework"". The government will now ""present a new bill,"" the notice added.Register now for FREE unlimited access to Reuters.comIndia's junior IT minister Rajeev Chandrasekhar said on Twitter the new planned framework will adhere to global standards, adding that privacy was a fundamental right of Indian citizens and that the economy required such cyber laws.The 2019 privacy bill was designed to protect Indian citizens and establish a so-called data protection authority, but it had raised concerns among Big Tech giants that it could increase their compliance burden and data storage requirements. (https://reut.rs/3JyJGld)""It is good that there will be a redraft from scratch,"" said Prasanto Roy, a New Delhi-based consultant who closely tracks India's technology policy.""However, India still has no privacy law in sight. That's leaving data regulation open to a wide variety of sectoral regulations, something a common privacy law could have harmonised.""CONCERN OVER DATA MISUSEIndia says such regulations are needed to safeguard the data and privacy of citizens. Lawmakers have said that concerns about misuse of sensitive personal data have risen exponentially in India.Companies including Facebook (META.O), Twitter (TWTR.N) and Google (GOOGL.O) have for years been concerned with many other separate regulations India has proposed for the technology sector, often straining relations between New Delhi and Washington.After India's privacy law plan of 2019, it also floated new proposals to regulate ""non-personal data"", a term for data viewed as a critical resource by companies that analyse it to build their businesses. The parliamentary panel had said such non-personal data should be included in the purview of the privacy bill.The bill also exempted government agencies from the law ""in the interest of sovereignty"" of India"", a provision privacy advocates at the time said would allow agencies to abuse access.""There were multiple, large concerns earlier. One has to wait and watch whether the new bill is any better,"" said Apar Gupta, the executive director at advocacy Internet Freedom Foundation.Register now for FREE unlimited access to Reuters.comReporting by Aditya Kalra and Aftab Ahmed in New Delhi; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.","India nixes privacy bill that alarmed big tech companies, works on new law."
"An employee hands a bag to a customer at the drive-thru of a Starbucks coffee shop in Hercules, California, on Thursday, July 28, 2022.David Paul Morris | Bloomberg | Getty ImagesStarbucks on Tuesday reported better-than-expected quarterly earnings and revenue, fueled by demand in the U.S. for its cold coffee drinks.As inflation surges, interim CEO Howard Schultz said the chain is not seeing customers trade down or reduce their spending. Other restaurant companies, including McDonald's and Chipotle Mexican Grill, have seen low-income consumers visit less frequently or spend less as higher gas and grocery bills squeeze their budgets. Schultz credited Starbucks' pricing power and customer loyalty for its ability to buck the trend.Shares of the company rose more than 1% in extended trading.Here's what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 84 cents adjusted vs. 75 cents expectedRevenue: $8.15 billion vs. $8.11 billion expectedThe coffee giant reported fiscal third-quarter net income attributable to Starbucks of $912.9 million, or 79 cents per share, down from $1.15 billion, or 97 cents per share, a year earlier. The company said that inflation and higher wages for baristas weighed on its margins this quarter.Net sales rose 9% to $8.15 billion. The company reported global same-store sales growth of 3%, fueled by a stronger performance in the United States.In Starbucks' home market, same-store sales increased 9%, driven largely by higher average order totals, as well as a 1% uptick in traffic. Morning sales are returning, the company said, making up roughly half of revenue as consumers resume pre-pandemic routines.The company also noted the popularity of its iced shaken espresso and said cold beverages accounted for three quarters of U.S. sales this quarter. Schultz said customers are more likely to add modifiers like syrups and milks to cold drinks than hot drinks, raising the price of the overall beverage. Cold drinks are also popular with Gen Z customers, a key demographic for the coffee chain, according to Schultz.Outside the U.S., same-store sales fell 18%, weighed down by plummeting demand in China. Starbucks said Covid restrictions affected sales in its second-largest market for two-thirds of the quarter. As a result, China's same-store sales plunged 44%. The company is still seeing periodic short-term closures in China. Last quarter, Starbucks pulled its outlook for fiscal 2022, citing the uncertainty caused by Covid outbreaks in China. The company did not issue a new forecast this quarter.Starbucks opened 318 net new locations worldwide during the quarter, bringing its global restaurant count to 34,948.The company plans to hold an investor day on Sept. 13 in Seattle to share more about its strategy for the future.Read the full earnings report here.Correction: An earlier version of this story misstated Refinitiv estimates for Starbucks' quarterly revenue.","Starbucks earnings beat Wall Street estimates, fueled by U.S. demand for cold drinks."
"Crime August 3, 2022 / 7:59 AM / CBS/AFP Three people were killed and six others wounded in a knife attack Wednesday at a kindergarten in southeast China's Jiangxi province.A ""gangster wearing a cap and mask"" stormed the private kindergarten in Anfu county at about 10:00 am local time (0200 GMT), police said in a statement published on China's Twitter-like Weibo. The 48-year-old suspect is still at large, they added.""Public security organs are making every effort to hunt down the suspect,"" the police statement said. In a video of the scene shared by state-run Beijing Daily, a police officer can be seen carrying a tiny child in his arms to an ambulance.The ages of the victims have not been announced. Mass violent crime is rare in China, but there has been a spate of mass stabbings in recent years.And fatal knife attacks specifically targeting kindergarten and school students have occurred nationwide, carried out by people reportedly wishing to wreak revenge on society.Last April, two children were killed and 16 others wounded when a knife-wielding man entered a kindergarten in southern China.More recently, four people were wounded in a stabbing at a major Shanghai hospital last month before the knife-wielding attacker was shot and subdued by the police. Six people were also killed and 14 wounded after a man stabbed passersby on a pedestrian shopping street in the eastern Chinese city of Anqing in June last year.In 2020, a school security guard wounded at least 39 people in a knife attack at a kindergarten in southern China.China does not allow private gun ownership, so most such attacks are carried out with knives, homemade explosives or gasoline bombs. Around 100 children and adults have been killed and hundreds injured over the past decade in apparently uncoordinated, ""lone wolf"" attacks in which the motive was unclear and the overwhelmingly male assailants were either killed, ended their lives or were put on trial and executed.Acts of violence against China's youth resonate especially strongly due to the country's chronically low birth rate, partly due to decades of population control policies.The Associated Press contributed to this report. In: China Stabbing Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","3 killed, 6 wounded in stabbing rampage at kindergarten in China; suspect at large."
"Maskot | Maskot | Getty ImagesIf you're thinking about leasing a car, be aware that you may not save as much money as you anticipate by going that route.With inventory limited amid ongoing supply-chain snags — meaning fewer choices and elevated prices due to demand outstripping supply — discounts on new vehicles are limited whether you buy or lease. The average purchase incentive among the deals offered is an estimated $894, down from more than $2,000 a year ago, according to a joint forecast from J.D. Power and LMC Automotive.""One of the factors contributing to the reduction in incentive spending is the absence of discounts on vehicles that are leased,"" said Thomas King, president of the data and analytics division at J.D. Power, in the report.More from Personal Finance:Millennials’ average net worth more than doubled in pandemicGen Z is saving more for retirement than older generationsHere's how social media 'FOMO' drives bad spending habitsJuly marked first time the average discount has fallen below $900 and the third consecutive month for it trending below $1,000, the research notes. Separately, the average monthly payment for new leases rose in July to $594 from $575 in June, according to data from car comparison site Edmunds.com. ""Dealers aren't getting the incentive programs from automakers that they used to … or even if there are programs, the dealerships aren't participating,"" said Ivan Drury, senior manager of insights for Edmunds.""In years past, they did this left and right,"" he said.Inventory may not include cars eligible for discountsDrury also said the limited manufacturer discounts being offered apply to very specific trim levels among certain models. So, even then, it doesn't mean you'll easily find the exact car that's eligible for an incentive.""If the dealership isn't ordering those vehicles, how are you going to get that special?"" Drury said.The share of new-car transactions that involve leases fell in July to 18%, a level not seen since February 2009, according to Edmunds. A year ago, it was 27.2%.'You'll just be paying more to lease right now'Despite the dearth of incentives, if you are a serial leaser — for whatever reason — then it may still make sense for you, Drury said. Just be prepared to see few deals and monthly payments that may be much higher than they were three years ago. And, there may be less of a savings in those payments over traditional financing, depending on the car.""Some people don't like having a car that's 4 or 5 years old,"" he said. ""You'll just be paying more to lease right now.""Meanwhile, if it's your first time considering a lease, be aware that the cost of financing is expressed differently than it is with loans.Leasing companies use a number called the ""money factor."" The dealership should be able to convert that amount into an interest rate so you know what you're paying.By way of comparison: For new cars that are financed using a five-year auto loan, the average interest rate is about 4.84%, according to Bankrate. That figure could tick upward as the Federal Reserve continues adjusting rates upward in an effort to battle inflation.Explore your lease-end optionsHere's why: With limited inventory among new vehicles, demand has continued spilling into the used-car market. For 1- to 3-year-old cars, prices are an average $13,145 above where they'd be if typical depreciation expectations were at play, according to CoPilot, a car shopping app. Leases typically are for about three years and come with mileage restrictions.This means it may be worth looking into buying out the lease instead of turning in the car, for instance. If the buyout price (which is generally the residual value) in your agreement is lower than your vehicle's current value, you'd be paying less for the car than if you were to purchase it from a dealership's lot.","Average monthly payments for car leases rose to $595 in July amid 'an absence of discounts' from manufacturers, dealers."
"Surface damage seen on Qatar Airways' airbus A350 parked at Qatar airways aircraft maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad Creidi/File PhotoRegister now for FREE unlimited access to Reuters.comPARIS, Aug 3 (Reuters) - Airbus (AIR.PA) has revoked its entire outstanding order from Qatar Airways for A350 jets, severing all new jetliner business with the Gulf carrier in a dramatic new twist to a dispute clouding World Cup preparations, two industry sources said.No comment was immediately available from Airbus or Qatar Airways.The two aviation titans have been waging a rare public battle for months over the scarred condition of more than 20 long-haul jets that the airline says could pose a risk to passengers and which Airbus insists are completely safe.Register now for FREE unlimited access to Reuters.comQatar Airways, which was the first airline to introduce the intercontinental jet to the skies in 2015, is suing Airbus for at least $1.4 billion after almost half its A350 fleet was grounded by Qatar's regulator over premature surface damage.It has refused to take delivery of more A350s until it receives a deeper explanation of damaged or missing patches of anti-lightning mesh left exposed by peeling paint. read more Backed by European regulators, Airbus has acknowledged quality problems on the jets but denied any safety risk from gaps in the protective sub-layer, saying there is ample backup.Until now, the dispute has had a piecemeal effect on the order book for Europe's biggest twin-engined jet as first Airbus, then Qatar Airways, terminated some individual jets.Now, however, Airbus has told the airline it is striking the rest of the A350 deal from its books, the sources said, asking not to be identified as discussions remain confidential. read more At end-June, the European planemaker had outstanding orders from Qatar Airways for 19 of the largest version of the jet, the 350-passenger A350-1000, worth at least $7 billion at catalogue prices or closer to $3 billion after typical industry discounts.WORLD CUPThe sweeping new A350 cancellation comes six months after Airbus also revoked the whole contract for 50 smaller A321neo jets in retaliation for Qatar refusing to take A350 deliveries.The spillover to a different model was branded ""worrying"" by the head of a body representing global airlines, the International Air Transport Association. read more The latest move is likely to widen a rift between two of the flagship companies of close allies France and Qatar.Barring an elusive settlement, the dispute is already set for a rare corporate trial in London next June. read more It comes as the airline industry grapples with an uneven recovery from the COVID-19 pandemic and as Qatar Airways is preparing to handle the bulk of some 1.2 million visitors expected for the FIFA World Cup in November and December.Airbus has argued that the airline is using the dispute to bolster its finances and reduce its fleet of costly long-haul jets as its target long-haul market recovers sluggishly.Qatar Airways, which in June posted its first annual profit since 2017, maintains it needs more capacity for the World Cup, forcing it to lease planes and bring less efficient A380s out of retirement to plug a gap left by grounded A350s.The row centres on whether the A350's problems - including what appears to be damage to parts of the wings, tail and hull according to two jets seen by Reuters - stem from a cosmetic issue or, as the airline claims, a design defect. read more A Reuters investigation in November revealed that several other airlines had found surface damage since 2016, the second year of A350 operations, prompting Airbus to accelerate studies of an alternative mesh that also saves weight. read more .So far, however, none of the A350's other roughly three dozen operators has joined Qatar in voicing concerns over safety as a result of surface flaws, as they continue to fly the jet.Register now for FREE unlimited access to Reuters.comReporting by Tim Hepher; editing by Jason Neely, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Airbus axes remaining A350 jet deal with Qatar - sources.
"CVS Health logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - CVS Health Corp (CVS.N) on Wednesday raised its annual profit forecast after strength in its insurance business and sales of COVID-19 over-the-counter test kits helped it beat estimates for quarterly results.Shares in the largest U.S. pharmacy chain rose nearly 4% before the bell.Pharmacy chain operators such as CVS have benefited from distributing COVID vaccines and tests during the pandemic, with an Omicron-driven surge in infections driving up demand for its antigen tests in the quarter.Register now for FREE unlimited access to Reuters.comCVS retail and long-term care segment revenue rose 6.3% as sales of OTC antigen COVID test kits and the impact of the flu season helped offset the effect of lower coronavirus vaccinations and diagnostic testing.Demand for lab tests and vaccinations slowed as overall cases in the United States remained steady, with more than two-thirds of the people fully vaccinated and about 48% having received a booster dose, according to government data.Revenue at the company's health insurance unit rose 11% while the medical benefit ratio, or costs as a percentage of premiums, fell to 82.9% from 84.1%, reflecting a slower-than-expected recovery in demand for non-urgent medical care.CVS raised its adjusted profit outlook to $8.40-$8.60 per share from $8.20-$8.40 per share forecast earlier.Excluding one-off items, the company reported second-quarter earnings per share of $2.40, beating analysts' average estimate of $2.17, as per Refinitiv IBES data.Total revenue rose to $80.64 billion, compared with estimates of $76.37 billion.Register now for FREE unlimited access to Reuters.comBy Leroy Leo and Bhanvi Satija in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.","CVS lifts forecast after strong quarter on insurance demand, COVID tests."
"U.S. August 3, 2022 / 7:20 AM / CBS/AP A 911 call from air traffic controllers suggests that a co-pilot may have jumped from a damaged plane before the other pilot made an emergency landing in North Carolina, according to a recording of the call that was released Tuesday.It's been unclear exactly how or why Charles Hew Crooks, 23, exited the small cargo plane on Friday afternoon about 30 miles south of Raleigh-Durham International Airport. He did not have a parachute, and his body was found in a backyard in the town of Fuquay-Varina.Two unnamed Federal Aviation Administration employees can be heard telling a 911 dispatcher that the plane was heading to the airport. The pilot onboard had apparently told them that his co-pilot had ""jumped out of the aircraft,"" CBS affiliate WNCN-TV reported, 'My pilot just jumped out': 911 call paints picture of moments before RDU emergency landing https://t.co/1B9a9dzUAs pic.twitter.com/7o84cWrA0g— CBS 17 (@WNCN) August 2, 2022 ""We have a pilot that was inbound to the field,"" a controller told the 911 dispatcher, according to WNCN. ""His co-pilot jumped out of the aircraft. He made impact to the ground and here are the coordinates."" The call lasted about 13 minutes, with the controllers stating several times that the co-pilot had jumped.Investigators have still not confirmed that Crooks intentionally jumped at this time despite the context of the 911 call, WNCN reported. Wake County Emergency Management Chief of Operations Darshan Patel said the initial 911 call prompted the search for Crooks.""All we can do is recovery at this point,"" FAA personnel said on the phone with 911, according to WNCN. ""I mean, I don't know…I've never heard…This is the craziest thing I've ever heard.""The airplane sustained substantial damage to its landing gear and fuselage, according to preliminary information gathered by the National Transportation Safety Board. Crooks' father, Hew Crooks, told WRAL-TV that his son had been working as a flight instructor for over a year. ""He said a couple weeks ago, he wouldn't trade places with anybody in the world. He loved where he was,"" he told the station, adding: ""I can't imagine what happened.""The investigation is ongoing. In: NTSB North Carolina Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","In 911 call, air traffic controllers say co-pilot ""jumped"" from plane that made emergency landing in North Carolina."
"The Reddit logo is seen on a smartphone in front of a displayed Wall Street Bets logo in this illustration taken January 28, 2021.Dado Ruvic | ReutersThink the meme stock mania is so 2021? Just take a look at AMTD Digital.The little-known Hong Kong-based fintech firm saw its shares skyrocket 126% Tuesday alone after experiencing a series of trading halts. AMTD Digital, a subsidiary of investment holding firm AMTD Idea Group, went public in mid-July with its American depositary receipts trading on the NYSE. Two weeks later, the stock is up 21,400% to $1,679 apiece from its IPO price of $7.80.The monstrous move pushed its market cap above $310 billion as of Tuesday, making it bigger than Coca-Cola and Bank of America, according to FactSet. AMTD Digital generates revenue primarily from fees and commissions from its digital financial services business, and it only made $25 million in 2021, according to a regulatory filing.The wild trading is reminiscent of the GameStop mania of 2021 where a band of Reddit-obsessed retail investors managed to push up shares of the video game retailer and squeeze out short selling hedge funds. Indeed, the ticker HKD became the most popular mention on Reddit's WallStreetBets chatroom Tuesday, according to alternative data provider Quiver Quantitative.AMTD Idea Group's ADR was also the single-most actively traded stock on the Fidelity platform Tuesday. The stock has popped nearly 300% this week.The intense speculative behavior among retail investors is unnerving many on Wall Street yet again.""As we've learned over the past two years, events like this cause what I would say is opportunities for profit but great risk for loss particularly for our retail investors,"" Jay Clayton, former SEC chairman, said on CNBC's ""Squawk Box"" Wednesday.Famed short seller Jim Chanos took it to Twitter and expressed frustration about the mania.""So we're all just going to ignore the $400B meme stock in the room?"" Chanos said in a tweet. ""We literally had Congressional hearings over the $30B runs of $GME and $AMC, but just [crickets] today.The crazy moves, based on no material news, also shocked the company itself. AMTD Digital issued a ""thank you note"" to investors Tuesday, adding it's monitoring the market closely for any trading abnormalities. ""To our knowledge, there are no material circumstances, events nor other matters relating to our Company's business and operating activities since the IPO date,"" the company said in the statement.",The $300 billion meme stock that makes GameStop look like child's play.
"Tod's Chairman Diego Della Valle looks on during an interview a day before the presentation of the Colosseum dungeons which have been restored in a multi-million euro project sponsored by the fashion group in Rome, Italy, June 24 2021. Picture taken June 24 2021. REUTERS/Remo Casilli/Register now for FREE unlimited access to Reuters.comMILAN, Aug 3 (Reuters Breakingviews) - Two decades after listing Tod’s (TOD.MI) in Milan, founder Diego Della Valle is taking the maker of iconic loafer shoes private. The Italian tycoon’s hope is probably that, split into different parts, the Italian group would command a better price tag than his 1.4 billion euro bid implies. Shareholder LVMH (LVMH.PA) is sticking with Della Valle. Other investors may have to swallow the lowball offer.Tod’s was once a king in the world of pricey shoes. The group’s iconic “Gommino” loafer, launched at the end of the 1970s, captured the trend of expensive casualwear decades before it became mainstream. Tod’s initial public offering in 2000 encouraged others, including larger rival Prada, to also list.Unfortunately, Tod’s has been unable to innovate much since. Its stock has long languished at less than a third of a peak of around 140 euros hit in 2013. Expected revenues of 973 million euros this year are roughly in line with those Tod’s generated a decade ago, Refinitiv estimates show.Register now for FREE unlimited access to Reuters.comHoping to revamp the group, Della Valle, who owns nearly 65% of Tod’s, announced on Wednesday that his family would offer 40 euros a share to investors to delist the group, a skinny 20% premium on Tuesday’s close. LVMH, whose Chairman Bernard Arnault is a friend of the Italian entrepreneur, plans to keep its 10% stake in the Italian fashion group. That means Della Valle would have to disburse around 338 million euros to buy out the remaining 25% of shares.Away from market scrutiny, the dominant shareholder probably hopes to transform his creature. Low-value brands Fay and Hogan do not fit Tod’s luxury aspiration and could be sold to high-street players. Pilgrim pumps maker Roger Vivier, which Della Valle acquired in 2015 for 415 million euros, is a hidden jewel. If valued at 4 times Breakingviews’ 2023 sales forecast of 250 million euros, in line with Prada’s multiple, it could be worth a billion euros. LVMH is an obvious potential acquirer. The Tod’s brand itself may command the same price tag if valued on Salvatore Ferragamo’s (SFER.MI) 2 times forecast 2023 sales. Combined, the two brands alone would offer a 40% upside on the 1.4 billion euro enterprise value implied by Della Valle’s offer.For minority investors, the exit price is probably not particularly appealing. But with Della Valle’s large stake discouraging any rival bid, their best bet may be to go along with it.Follow @LJucca on TwitterCONTEXT NEWSDiego Della Valle and his family, founders of Tod’s, said on Aug. 3 they will launch a takeover offer to delist the Italian fashion brand.Under the proposed take-private offer, shareholders will receive 40 euros a share, a 20% premium on Tuesday’s closing price of 33.42 euros. Tod’s, best known for its leather loafers, had priced its shares at 40 euros in an initial public offering in Milan in 2000.The offer values the company’s equity capital at just over 1.3 billion euros, or around 1.4 billion euros including debt.The Della Valle family owns a stake of nearly 65% in Tod’s. French luxury giant LVMH owns 10% through an investment vehicle. The offer targets 25.55% of Tod’s capital, and would cost the family 338 million euros.Register now for FREE unlimited access to Reuters.comEditing by Neil Unmack, Streisand Neto and Oliver TaslicOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Italy loafer buyout is a bet on a higher price tag.
"3D printed Natural Gas Pipes are placed on displayed German and Russian flags in this illustration taken, January 31, 2022. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comBERLIN, Aug 3 (Reuters) - The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices contracts, government and parliamentary sources told Reuters on Wednesday.A gas levy, which had been set to come into force from October, was envisaged as a tool to collect funds from all gas consumers to support ailing gas importers that are struggling with soaring prices due to falling Russian gas export flows. read more Industry sources told Reuters that around one quarter of gas consumer contracts have clauses that would guarantee fixed prices, which would make adding on a levy difficult.Register now for FREE unlimited access to Reuters.comThe economy ministry declined to comment.Further details on the levy were to be announced in August, but according to a draft law seen by Reuters on Wednesday, the government plans to adjust the surcharge at least every three months to reflect changes in gas prices.""A gas scarcity situation"" is the perquisite to impose the levy, which the government has already determined with falling Russian gas flows, the draft law showed.The levy was seen as a fairer fund-collecting mechanism than a general price adjustment clause that would allow suppliers themselves to pass price increases on to customers, which experts see as legally contestable.After the government raised its gas storage targets for winter last month, additional costs will arise and also be partially passed on to final consumers, probably from November, industry sources told Reuters. read more Register now for FREE unlimited access to Reuters.comReporting by Markus Wacket
Writing by Riham Alkousaa and Vera Eckert
Editing by Miranda Murray and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.","Exclusive: Germany's gas levy cannot be implemented as planned, say sources."
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesPelosi tells President Tsai ""we will not abandon Taiwan""China steps up military activity around TaiwanTaiwan's military increases alertness levelBlinken discussed Pelosi visit with China's Wang Yi last monthChina summoned U.S. ambassador in BeijingTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi left Taiwan on Wednesday after pledging solidarity and hailing its democracy, leaving a trail of Chinese anger over her brief visit to the self-ruled island that Beijing claims as its own.China demonstrated its outrage over the highest-level U.S. visit to the island in 25 years with a burst of military activity in surrounding waters, summoning the U.S. ambassador in Beijing and halting several agricultural imports from Taiwan.Some of China's planned military exercises were to take place within Taiwan's 12 nautical mile sea and air territory, according to Taiwan's defence ministry, an unprecedented move a senior defence official described to reporters as ""amounting to a sea and air blockade of Taiwan"".Register now for FREE unlimited access to Reuters.comPelosi arrived with a congressional delegation on her unannounced but closely watched visit late on Tuesday, defying China's repeated warnings, in what she said shows unwavering U.S. commitment to Taiwan's democracy.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,” Pelosi told Taiwan President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more “Now, more than ever, America’s solidarity with Taiwan is crucial, and that’s the message we are bringing here, today,"" she said during her roughly 19-hour visit.A long-time China critic, especially on human rights, Pelosi met with a former Tiananmen activist, a Hong Kong bookseller who had been detained by China, and a Taiwanese activist recently released by China.Fury on the mainland over the 82-year-old Democrat's defiance of Beijing was evident all over Chinese social media, with one blogger railing: ""this old she-devil, she actually dares to come!"" read more The last U.S. house speaker to go to Taiwan was Newt Gingrich, in 1997. But Pelosi's visit comes amid sharply deteriorating Sino-U.S. relations, and during the past quarter century China has emerged as a far more powerful economic, military and geopolitical force.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.In retaliation, China's customs department announced a suspension of imports of citrus fruits, chilled white striped hairtail and frozen horse mackerel from Taiwan, while its commerce ministry banned export of natural sand to Taiwan.While there was little sign of protest against U.S. targets or consumer goods, there was a significant police presence outside the U.S. consulate in Shanghai and what appeared to be more security than usual outside the embassy in Beijing.U.S. House of Representatives Speaker Nancy Pelosi talks with Taiwan Foreign Minister Joseph Wu before boarding a plane at Taipei Songshan Airport in Taipei, Taiwan August 3, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS MILITARY DRILLSShortly after Pelosi's arrival, China's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of the island, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Before Pelosi's arrival, Chinese warplanes buzzed the line dividing the Taiwan Strait. The Chinese military said it was on high alert and would launch ""targeted military operations"" in response to Pelosi's visit.White House national security spokesperson John Kirby said after Pelosi's arrival in Taiwan that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.Kirby said China might engage in ""economic coercion"" toward Taiwan, adding that the impact on U.S.-China relations will depend on Beijing's actions in coming days and weeks.U.S. Secretary of State Antony Blinken discussed the potential for Pelosi's visit with counterpart Wang Yi during a G20 meeting in Bali last month, and said any such trip would be entirely Pelosi's decision and independent of the U.S. government, a senior U.S. official said on Wednesday. read more 'CHINA'S AMBITION'The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Taiwan's military increased its alertness level. Its defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills in the surrounding waters.""The so-called drill areas are falling within the busiest international channels in the Indo-Pacific region,"" a senior Taiwan official familiar with its security planning told Reuters on Wednesday.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" the person said.China's foreign ministry said it has not seen its military drills around Taiwan causing any freedom of navigation issues.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Writing by Tony Munroe; Editing by Simon Cameron-Moore and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Pelosi full of praise, support for Taiwan during visit that infuriated China."
"U.S. August 3, 2022 / 8:30 AM / CBS News New calendar could change how we think of time New calendar could revitalize the way we think of time 03:04 The Earth is spinning faster, and recently recorded its shortest day ever, scientists say. June 29, 2022 was 1.59 millisecond less than the average day, scientist Leonid Zotov told CBS News.The normal length of day is 24 hours, or 86,400 seconds. But in recent years, the Earth's rotation has accelerated, shortening some days by milliseconds. ""Since 2016 the Earth started to accelerate,"" said Zotov, who works at works for Lomonosov Moscow State University and recently published a study on what might cause the changes in Earth's rotation. ""This year it rotates quicker than in 2021 and 2020.""Zotov and his colleagues believe the fluctuation could be caused by the Earth's tides. He says not every day is shorter, but if the trend continues, atomic time – the universal way time is measured on Earth – may have to change. Some scientists propose introducing a negative leap second. ""Since we can not change the clock arrows attached to the Earth rotation, we adjust the atomic clock scale,"" he said. As opposed to leap years, which have an extra day added, a negative leap second would mean clocks skip one second. Some engineers oppose the introduction of a leap second, as it could lead to large-scale and devastating tech issues. Meta engineers Oleg Obleukhov and Ahmad Byagowi, who is also a researcher, wrote blog post about it for Meta, which is supporting an industry-wide effort to stop future introductions of leap seconds.""Negative leap second handling is supported for a long time and companies like Meta often run simulations of this event,"" they told CBS News. ""However, it has never been verified on a large scale and will likely lead to unpredictable and devastating outages across the world.""The concept, which was introduced in 1972, ""mainly benefits scientists and astronomers as it allows them to observe celestial bodies using UTC [Coordinated Universal Time] for most purposes,"" they wrote in the blog post. ""Introducing new leap seconds is a risky practice that does more harm than good, and we believe it is time to introduce new technologies to replace it,"" they write.  While positive leap seconds could cause a time jump, resulting in IT programs crashing or even data being corrupted, a negative leap second would be worse, they argue.""The impact of a negative leap second has never been tested on a large scale; it could have a devastating effect on the software relying on timers or schedulers,"" they write. ""In any case, every leap second is a major source of pain for people who manage hardware infrastructures.""The pair believes one of many contributing factors to Earth's faster spin could be the constant melting and refreezing of ice caps on the world's tallest mountains. ""It is all about the law of conservation of momentum that applies to our planet Earth. Every atom on the planet contributes to the momentum of the earth's angular velocity based on the distance to the rotation axis of the earth,"" Obleukhov and Byagowi told CBS News. ""So, once things move around, the angular velocity of the earth can vary.""""This phenomenon can be simply visualized by thinking about a spinning figure skater, who manages angular velocity by controlling their arms and hands,"" they said. ""As they spread their arms the angular velocity decreases, preserving the skater's momentum. As soon as the skater tucks their arms back in, the angular velocity increases. Same happens here at this moment because of rising temperatures on Earth. Ice caps melt and lead to angular velocity increase.""Zotov and his colleagues Christian Bizouard and Nikolay Sidorenkov will present their research at this month's Asia Oceania Geosciences Society conference for geosciences, according to Timeanddate.com, which first reported on Earth's faster spin and shorter days.  Caitlin O'Kane Caitlin O'Kane is a digital content producer covering trending stories for CBS News and its good news brand, The Uplift. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Earth is spinning faster than usual and had its shortest day ever.
"The Amazon logo displayed on a smartphone and a PC screen.Pavlo Gonchar | LightRocket via Getty ImagesSocial media giants Meta and Snap are telling investors that the online advertising market is experiencing some turbulence due to the economic slowdown. Amazon is sending a very different message.While the bulk of its business comes from e-commerce and cloud computing, Amazon has built a robust online ad division by getting brands to pay big bucks to promote their products on the company's website and app.As of late last year, Amazon commanded 14.6% of the U.S. digital ad market, third to Google at 26.4% and Facebook at 24.1%, according to Insider Intelligence.In the second quarter, Amazon grew faster than either of its larger peers in the market and also beat out the rest of the major players. Amazon's ad revenue rose 18% from a year earlier to $8.76 billion, topping analysts' expectations and underscoring the unit's rapid ascent and increasing importance to brands.By contrast, Facebook's ad business shrank for the first time ever, missing analyst estimates, and the company forecast a second consecutive decline in revenue in the current period.Here are the growth rates in descending order for the top online ad platforms.Amazon — 18%Snap — 13%Google — 12%Pinterest — 9%Twitter — 2%Facebook — (1.5%)It wasn't just the social media companies calling out the challenging ad environment. Streaming service Roku reported disappointing second-quarter results and said in a shareholder letter that the current ad market is reminiscent of the onset of the Covid-19 pandemic, ""when marketers prepared for macro uncertainties by quickly reducing ad spend across all platforms.""Meanwhile, Amazon provided a level of reassurance to Wall Street in giving guidance for revenue growth in the third quarter of 13% to 17%. That's going to be a boon for the ad division, because ""the ads business goes as the commerce business goes,"" said Andrew Lipsman, an analyst at Insider Intelligence.""Long term I think Amazon is building an absolute advertising juggernaut,"" Lipsman said. ""That engine is going to become transformative to advertising.""Amazon has a distinct advantage over several of the social media platforms that have struggled of late. In 2021, Apple's iOS privacy change made it harder for ad-supported sites to track users, a move that's had an outsized impact on Facebook and Snap. Amazon, by contrast, is its own separate silo, where advertisers go directly to build campaigns.Lipsman said that companies concerned about a potential recession are allocating more of their ad budgets to places like Amazon, where they can more likely see a return on their investment.""It's a flight to safety for ad dollars right now, and that safety is when you can show measurable returns on ad spend,"" Lipsman said.The prospect of ads leading to direct sales is guiding much of Pinterest's current strategy. The company is investing heavily in e-commerce and recently landed former Google commerce lead Bill Ready as its new CEO, succeeding co-founder Ben Silbermann.  Justin Patterson, an analyst at KeyBanc Capital Markets, said there are signs that Pinterest is seeing some success in e-commerce and that its ""algorithms helping people discover contact or discover items on Pinterest to shop also continue to improve.""Pinterest's revenue slightly missed analyst estimates and the company also issued a disappointing forecast for growth in the mid-single digits. But the stock climbed 12% after activist investor Elliott Management disclosed that it's the biggest shareholder in the company and said, ""Pinterest occupies a unique position in the advertising and shopping ecosystems.""Despite all the doom and gloom about the broader online ad market, Kate Scott-Dawkins, global director of business intelligence for media investment firm GroupM, sees plenty of reasons for optimism. Facebook parent Meta is still bringing in lots of cash, and while social media platforms aren't experiencing the kind of booming growth they did during the pandemic, they still have the attention of top advertisers, she said.Brand awareness is important for companies in the consumer packaged goods industry and elsewhere, regardless of the current economic environment, Scott-Dawkins said.""We've heard from CPG brands in the past about the importance they place on advertising and brand advertising in recessionary times, just in terms of continuing to make sure that consumers choose their brand over a generic brand,"" she said.The big question will be whether consumers cut back on spending as the year progresses, which could have a more profound impact on company ad budgets. If that's the case, Amazon could still pick up share, but in a market with fewer dollars to go around.WATCH: Big tech companies paint an ugly picture of the U.S. economy.",Why Amazon's digital ad business grew faster than all its rivals in the second quarter.
"That green light means you can take your hands off the wheel. Just keep your eyes on the road!Mack Hogan | CNBCDETROIT – General Motors is expanding its Super Cruise hands-free driving system in the U.S. and Canada later this year, introducing the feature for non-interstate roadways and highways such as Route 66 and the Pacific Coast Highway.With the additional roadways, the driver-assistance system will be usable across more than 400,000 miles of U.S. and Canadian roads, up from about 200,000 miles of strictly divided highway interstates.""These are the main roads that connect the smaller cities and the townships across the U.S. and Canada,"" David Craig, GM's mapping specialist, said during a media briefing. ""This is expanding Super Cruise's availability to many, many millions more customers.""Super Cruise uses a system of sensors and cameras to control steering, braking and acceleration functions of the car without the driver's input. It also utilizes high-definition maps; a light bar to communicate with the driver; and an in-vehicle monitoring system to ensure drivers remain attentive while Super Cruise is operating.The feature, even with the update, won't make turns on behalf of the driver or operate in cities, towns and residential streets, like some of Tesla's driver-assist systems. Super Cruise will also hand control of the vehicle back to drivers if they are approaching an intersection with a stop sign or traffic light.Despite names like Super Cruise, or Tesla's Autopilot and ""Full Self-Driving"" brands, these vehicles are not autonomous, or safe to use without a driver behind the wheel.GM said the newest roadways for Super Cruise will be available via over-the-air, or remote, updates, beginning in the fourth quarter of this year for most of its eligible vehicles. GM will not charge for the update, however the optional add-on currently starts at $2,200 or $2,500, depending on the vehicle.GM is expanding its Super Cruise hands-free driving system in the U.S. and Canada later this year to 400,000 miles of roadways,GMGM has slowly increased the availability and capabilities of Super Cruise since it was launched in 2017. It plans to offer Super Cruise on 23 models globally by the end of next year. It's also announced a new system called ""Ultra Cruise,"" which GM has said will be capable of handling driving in 95% of scenarios.GM's premium tier may make the company more directly competitive with Elon Musk-led electric vehicle maker Tesla. Driver assistance systems from Tesla include the standard Autopilot, and premium option marketed as Full Self-Driving (or FSD), as well as, FSD Beta that lets drivers test out features on public roads before they go into widespread use. Driver-assistance systems have seen an increase in regulatory attention, specifically around accidents involving Tesla vehicles.Mario Maiorana, GM chief engineer of Super Cruise, said the company is in routine communication with the National Highway Traffic Safety Administration about the rollout of the additional roadways.""We're not going to put it out until we've fully tested it,"" Maiorana said, taking a slight jab at Tesla, which has been offering in-development ""Beta"" systems to some owners.GM's Super Cruise hasn't received as much attention or scrutiny as Tesla's systems, partly due to additional safeguards and the company's more conservative approach. GM has also only sold roughly 40,000 vehicles with Super Cruise, while Tesla offers some form of its systems on every vehicle it offers.NHTSA reported in early July that it had opened more than 30 probes since 2016 into collisions involving Tesla vehicles where driver assistance systems like Autopilot were a suspected factor. The same report noted the federal vehicle watchdog was looking into two non-fatal incidents potentially involving Super Cruise.Tesla crashes currently under investigation have resulted in 16 fatalities of vehicle occupants or pedestrians, according to the agency.Automakers are required by law to report fatal and other serious collisions involving driver assistance systems to NHTSA.– CNBC's Lora Kolodny contributed to this report.","GM to expand its hands-free Super Cruise system to span 400,000 miles, including Route 66 and the Pacific Coast Highway."
"A view of the Sierra Leone-flagged cargo ship Razoni, carrying Ukrainian grain, during an inspection by Joint Coordination Centre officials in the Black Sea off Kilyos, near Istanbul, Turkey August 3, 2022. REUTERS/Umit BektasRegister now for FREE unlimited access to Reuters.comANKARA, Aug 3 (Reuters) - Three ships may leave Ukrainian ports daily instead of one per day, a senior Turkish official said on Tuesday, after the first grain-carrying ship successfully departed from Odesa and was cleared to pass through the Bosphorus after inspections.The first ship, Razoni, was able to sail after Turkey and the United Nations brokered a deal between Russia and Ukraine that aims to ease a global food crisis.Register now for FREE unlimited access to Reuters.comReporting by Orhan Coskun and Ali KucukgocmenOur Standards: The Thomson Reuters Trust Principles.",Three ships may leave Ukrainian ports daily after first successful departure -Turkish official.
"Here are the most important news items that investors need to start their trading day:1. Stocks look to shake off back-to-back lossesNEW YORK, NEW YORK - JULY 25: Traders work on the floor of the New York Stock Exchange (NYSE) on July 25, 2022 in New York City. Stocks rose slightly in morning trading as investors weigh the upcoming Federal Reserve meeting this coming Wednesday. (Photo by Spencer Platt/Getty Images)Spencer Platt | Getty Images News | Getty ImagesStock futures were in the green Wednesday, following two straight negative days to begin August trading. In Tuesday's down session, investors grappled with increased tensions between Washington and Beijing, as U.S. House Speaker Nancy Pelosi visited Taiwan, and comments on inflation and future rate hikes from a number of Federal Reserve officials. The S&P 500 enters Wednesday down nearly 1% for the week, while the tech-heavy Nasdaq has declined 0.34%. The Dow Jones Industrial Average is the laggard, falling 1.37% week to date.2. Nancy Pelosi departs TaiwanTelevisions broadcast news reports on US House Speaker Nancy Pelosi's visit to Taiwan in Taipei, Taiwan, on Tuesday, Aug. 2, 2022.Lam Yik Fei | Bloomberg | Getty ImagesHouse Speaker Nancy Pelosi left Taiwan on Wednesday around 6 a.m. ET, marking the end to a brief but controversial stop in the self-ruled island that China claims as its own territory. While there, the California Democrat met with Taiwanese President Tsai Ing-wen and signaled her support for the democratic island. ""Our [congressional] delegation came here to send an unequivocal message: America stands with Taiwan,"" Pelosi said, according to NBC News. After repeatedly warning Pelosi against visiting Taiwan, Beijing has responded by banning various imports of Taiwanese goods into China including biscuits, grapefruit and frozen horse mackerel. China's Ministry of Commerce paused exports of natural sand to Taiwan, and the country's military also began conducting drills in the air and sea around Taiwan.3. CVS Health lifts full-year forecastA pedestrian walks through the parking lot of a CVS Health Corp. store in Oakland, California, Aug. 2, 2019.Michael Short | Bloomberg | Getty ImagesShares of CVS Health rose Wednesday after the company raised its full-year profit outlook and topped Wall Street's expectations with its second-quarter results. CVS now expects adjusted earnings between $8.40 and $8.60 per share this year, up from its prior guidance of $8.20 to $8.40. The company, which in addition to its drugstores owns health insurer Aetna, saw second-quarter sales rise 11% year over year to $80.64 billion, topping Refinitiv estimates of $76.37 billion. Adjusted earnings per share in the quarter of $2.40 also exceeded analyst estimates of $2.17.Also before Wednesday's opening bell, Taco Bell owner Yum Brands reported mixed quarterly results.4. Tuesday night earnings recapBrian Chesky, chief executive officer and co-founder of Airbnb Inc., speaks during an Economic Club of New York luncheon at the New York Stock Exchange (NYSE) in New York, U.S., on Monday, March 13, 2017.Michael Nagle | Bloomberg | Getty ImagesA number of noteworthy companies reported quarterly numbers after Tuesday's close. Here's quick breakdown of how they did:Airbnb reported better-than-expected Q2 earnings and revenue that nearly met estimates, while issuing third-quarter guidance ahead of Street estimates. Shares were down over 7% in premarket trading. CNBC's Sofia Pitt has a full recap here.Advanced Micro Devices' second-quarter profits and sales topped analyst expectations, but the chip designer's Q3 revenue forecast came up slightly short of estimates. Its stock slid about 6% in premarket trading. Read CNBC tech reporter Kif Leswing's full story on the earnings here.Starbucks' quarterly results beat estimates on the top and bottom lines, and interim CEO Howard Schultz indicated the coffee chain's customers haven't pulled back on their spending or traded down to cheaper items despite persistently hot inflation. Shares rose nearly 2% in the premarket. CNBC's Amelia Lucas recaps the earnings in full here.PayPal saw second-quarter revenue rise 9% year over year to $6.81 billion, beating analyst projections, while adjusted earnings per share of 93 cents topped estimates by 7 cents. Shares of the fintech firm, which also entered an info-sharing agreement on value creation with activist Elliott Management, surged nearly 13% in premarket trading. Read a full recap of the quarter from CNBC's Jordan Novet.5. Mortgage applications rise for first time in 5 weeksHouses in Hercules, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade.David Paul Morris | Bloomberg | Getty ImagesMortgage applications rose last week, the first time since June 24 that volume increased on a week-to-week basis, according to the Mortgage Bankers Association. Total mortgage demand increased 1.2%, helped by the average 30-year fixed mortgage rate recording its biggest weekly drop since 2020. Applications to buy a home increased 1% compared with the previous week, while refinance applications rose 2%, the MBA said. The latest mortgage data comes amid concerns about weakening consumer confidence and a slowing U.S. economy, as the Fed tightens monetary policy in hopes of cooling the hottest inflation since the early 1980s.— CNBC's Su-Lin Tan, Melissa Repko and Lisa Rizzolo contributed to this report. NBC News also contributed.— Sign up now for the CNBC Investing Club to follow Jim Cramer's every stock move. Follow the broader market action like a pro on CNBC Pro.",5 things to know before the stock market opens Wednesday.
"United Nations peacekeeping troops patrol the streets in armoured personnel carriers on election day in Democratic Republic of Congo's capital Kinshasa July 30, 2006. REUTERS/Finbarr O'Reilly/File PhotoRegister now for FREE unlimited access to Reuters.comKINSHASA, Aug 3 (Reuters) - Democratic Republic of Congo has asked the spokesman of the U.N. peacekeeping mission, MONUSCO, to leave the country, blaming him for stoking tensions that led to deadly protests last week.Thirty-six people, including four U.N. peacekeepers, were killed last week as hundreds of protesters vandalised and set fire to U.N. buildings in several cities in Congo's east. read more Civilians accuse the mission, which has been active for more than a decade, of failing to protect them from militia violence that has long plagued the region.Register now for FREE unlimited access to Reuters.comThe government said that the spokesman, Mathias Gillmann, had made ""indelicate and inappropriate"" statements which contributed to the tensions between the population and MONUSCO.""The Congolese government considers that the presence of this official on the national territory is not likely to promote a climate of mutual trust and calm between Congolese institutions and MONUSCO,"" said the statement from the foreign affairs ministry dated July 28 and seen by Reuters on Wednesday.Gillmann and MONUSCO's deputy spokesperson did not immediately respond to requests for comment.The Congolese government also said this week that it would reassess the mission's withdrawal plan in light of the protests, a decision which MONUSCO said it supported. read more The mission is due to withdraw by 2024 according to a plan drawn up last year, but the government aims to speed up its departure, said foreign affairs minister Christophe Lutundula.Register now for FREE unlimited access to Reuters.comReporting by Stanis Bujakera; Writing by Nellie Peyton, Editing by Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.",Congo expels U.N. peacekeeping mission spokesman after protests.
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryCompaniesFutures up: Dow 0.35%, S&P 0.33%, Nasdaq 0.29%Aug 3 (Reuters) - U.S. stock index futures edged higher on Wednesday, with focus on services activity data due later in the day after a report earlier this week amplified economic slowdown worries, while PayPal gained on raising its profit forecast.The Institute of Supply Management's data, due at 10 a.m. ET, is expected to show its index for non-manufacturing activity slipped to 53.5 last month from 55.3 in June, the fourth straight monthly decline. The services sector accounts for more than two-thirds of U.S. economic activity.Wall Street started August on a sour note after data earlier on Monday showed factory activity across the United States, China and Eurozone weakened in July, while U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan sparked concerns about escalating tensions between the United States and China.Register now for FREE unlimited access to Reuters.comPelosi left Taiwan on Wednesday after pledging solidarity and hailing its democracy. read more Meanwhile, a trio of Federal Reserve officials from across the policy spectrum signaled on Tuesday that the U.S. central bank remains open on aggressively increasing rates to tame decades-high inflation. read more A largely upbeat second-quarter earnings season has helped markets bounce back recently. The benchmark S&P 500 index (.SPX) and tech-heavy Nasdaq (.IXIC) are up 12.4% and 16.9%, respectively, from lows hit in mid-June.At 6:46 a.m. ET, Dow e-minis were up 112 points, or 0.35%, S&P 500 e-minis were up 13.5 points, or 0.33%, and Nasdaq 100 e-minis were up 37.75 points, or 0.29%.PayPal Holdings (PYPL.O) climbed 11.7% in premarket trading after it raised its annual profit guidance and said activist investor Elliott Management has an over $2 billion stake in the fintech company. read more CVS Health Corp (CVS.N) rose 2.1% as the largest U.S. pharmacy chain raised its full-year profit forecast after strength in its insurance business and sales of COVID-19 over-the-counter test kits helped the company report a 6% jump in second-quarter earnings. read more Starbucks Corp (SBUX.O) gained 1.9% after the coffee chain posted upbeat quarterly profit aided by higher prices and strong demand for its coffees in the United States. read more Advanced Micro Devices Inc (AMD.O) slid 5.4% after the chip designer forecast third-quarter revenue slightly below Wall Street estimates. read more Shares of vacation rental company Airbnb Inc (ABNB.O) dipped 7.2% after it forecast bookings for the current quarter at par with the record-breaking previous one, disappointing investors.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.",Futures rise ahead of services activity data; PayPal shines.
"World August 3, 2022 / 7:07 AM / CBS/AP Pelosi in Taiwan despite China's warnings Nancy Pelosi lands in Taiwan despite China's warnings 07:40 Taipei, Taiwan — U.S. House Speaker Nancy Pelosi left Taiwan after a visit that heightened tensions with China, saying Wednesday that she and other members of Congress in her delegation showed they will not abandon their commitment to the self-governing island.Pelosi, the first U.S. speaker to visit the island in more than 25 years, courted Beijing's wrath with the visit and set off more than a week of debate, after news of it leaked, over whether it was a good idea.In Taipei, she remained calm but defiant. ""Today the world faces a choice between democracy and autocracy,"" she said in a short speech during a meeting with Taiwanese President Tsai Ing-wen. ""America's determination to preserve democracy, here in Taiwan and around the world, remains ironclad."" China, which claims Taiwan as its territory and opposes any engagement by Taiwanese officials with foreign governments, announced multiple military exercises around the island, parts of which will enter Taiwanese waters, and issued a series of harsh statements after the delegation touched down Tuesday night in the Taiwanese capital, Taipei. Beijing depicted the drills as ""necessary and just,"" Agence France-Press reported. Beijing's foreign ministry said, ""In the current struggle surrounding Pelosi's Taiwan visit, the United States are the provocateurs, China is the victim."" Taiwan decried the planned actions, saying they violated the island's sovereignty. ""Such an act equals to sealing off Taiwan by air and sea, such an act covers our country's territory and territorial waters, and severely violates our country's territorial sovereignty,"" Capt. Jian-chang Yu said at a briefing by the National Defense Ministry. U.S. House Speaker Nancy Pelosi speaks next to Taiwan President Tsai Ing-wen and American Institute in Taiwan (AIT) Director Sandra Oudkirk during a meeting at the presidential office in Taipei, Taiwan on August 3, 2022.  TAIWAN PRESIDENTIAL OFFICE via Reuters The four days of Chinese military exercises, including live fire, are to start Thursday and would be the largest aimed at Taiwan since 1995, when China fired missiles in a large-scale exercise to show its displeasure at a visit by then-Taiwanese President Lee Teng-hui to the U.S. Taiwanese President Tsai responded firmly Wednesday to Beijing's military intimidation. ""Facing deliberately heightened military threats, Taiwan will not back down,"" Tsai said at her meeting with Pelosi. ""We will firmly uphold our nation's sovereignty and continue to hold the line of defense for democracy."" When China's official Xinhua News Agency announced the military actions Tuesday night, it published a map outlining six different areas around Taiwan. Arthur Zhin-Sheng Wang, a defense studies expert at Taiwan's Central Police University, said three of the areas infringe on Taiwanese waters, meaning they are within 12 nautical miles of shore. Using live fire in a country's territorial airspace or waters is risky, said Wang, adding that ""according to international rules of engagement, this can possibly be seen as an act of war."" Rep. Mike Turner: It's ""very important"" that Nancy Pelosi stood up to China and went to Taiwan 05:44 The Reuters news agency reports Pelosi's Taiwan visit was denounced on social media in China. One blogger seethed, saying, ""This old she-devil, she actually dares to come!""Reuters also reported that the Kremlin said Wednesday the amount of ratcheting up of tensions the Pelosi stop set off ""should not be underestimated"" and was a ""provocation."" Pelosi's trip has heightened U.S.-China tensions more than visits by other members of Congress because of her high-level position as leader of the House of Representatives. She is the first House speaker to visit Taiwan in 25 years, since Newt Gingrich in 1997. However, other members of Congress have visited Taiwan in the past year. Tsai, thanking Pelosi for her decades of support for Taiwan, presented the speaker with a civilian honor, the Order of the Propitious Clouds. Chinese Vice Foreign Minister Xie Feng summoned the U.S. ambassador in Beijing, Nicholas Burns, to convey the country's protests. On Wednesday, China banned some imports from Taiwan, including citrus fruit and fish. Pelosi addressed Beijing's threats Wednesday morning, saying she hopes it's clear that while China has prevented Taiwan from attending certain international meetings, ""that they understand they will not stand in the way of people coming to Taiwan as a show of friendship and of support."" She noted that support for Taiwan is bipartisan in Congress and praised the island's democracy. She stopped short of saying the U.S would defend Taiwan militarily, emphasizing that Congress is ""committed to the security of Taiwan, in order to have Taiwan be able to most effectively defend themselves."" U.S. House Speaker Nancy Pelosi talks with Taiwan Foreign Minister Joseph Wu before boarding a plane at Taipei Songshan Airport in Taipei, Taiwan on August 3, 2022.  Taiwan Ministry of Foreign Affairs via Reuters Her focus has always been the same, she said, going back to her 1991 visit to Beijing's Tiananmen Square, when she and other lawmakers unfurled a small banner supporting democracy two years after a bloody military crackdown on protesters at the square. That visit was also about human rights and what she called dangerous technology transfers to ""rogue countries."" Pelosi visited a human rights museum in Taipei that details the history of the island's martial law era and met with some of Taiwan's most prominent rights activists, including an exiled former Hong Kong bookseller who was detained by Chinese authorities, Lam Wing-kee. Pelosi, who is leading the trip with five other members of Congress, also met with representatives from Taiwan's legislature. ""Madam Speaker's visit to Taiwan with the delegation, without fear, is the strongest defense of upholding human rights and consolidation of the values of democracy and freedom,"" Tsai Chi-chang, vice president of Taiwan's legislature, said in welcome. The Biden administration has sought to tone down the volume on the visit, insisting there's no change in America's longstanding ""one-China policy,"" which recognizes Beijing but allows informal relations and defense ties with Taipei. Pelosi said her delegation has ""heft,"" including Gregory Meeks, chair of the House Foreign Affairs Committee, and Raja Krishnamoorthi from the House Intelligence Committee. Reps. Andy Kim and Mark Takano are also in the delegation. She also mentioned Rep. Suzan DelBene, whom Pelosi said was instrumental in the passage of a $280 billion bill aimed at boosting American manufacturing and research in semiconductor chips -- an industry that Taiwan dominates and is vital for modern electronics. In: Taiwan Nancy Pelosi China Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","China fumes over Pelosi's Taiwan visit, announces military drills to show its wrath."
"Boxes of the medication Mifepristone used to induce a medical abortion are prepared for patients at Planned Parenthood health center in Birmingham, Alabama, March 14, 2022.Evelyn Hockstein | ReutersU.S. President Joe Biden will sign an executive order on Wednesday to help cover costs for women traveling to receive abortions, a senior administration official said.He's directing Health and Human Services Secretary Xavier Becerra to encourage states to write rules so their state Medicaid plans could cover certain costs for women traveling to receive abortion in states where the procedure remains legal.But groups such as Planned Parenthood have called on the Biden administration to use all the emergency powers at its disposal to protect access to abortion. The Center for Reproductive Rights has specifically called on HHS to use an emergency health law, called the PREP Act, to enable health-care providers in states where abortion remains legal to prescribe and dispense mifepristone for early abortions for women in states with bans.The Biden administration has considered declaring a public health emergency to protect access to the abortion pill, but it worries physicians could potentially face prosecution in states that have banned the procedure, a senior administration official said.CNBC Health & Science Read CNBC's latest global health coverage:Biden names team to manage U.S. monkeypox response as outbreak growsBiden's Covid relapse sparks talk of 'Paxlovid rebounds'—here's what you need to know about the pillU.S. secures 171 million omicron Covid shots ahead of fall vaccination campaignHealth secretary calls on Congress and states to do more to help contain monkeypox outbreakPfizer quarterly sales surge to record high, driven by Covid vaccine and antiviral treatment PaxlovidU.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreadsWHO recommends gay and bisexual men limit sexual partners to reduce the spread of monkeypoxThe White House hasn't used those powers yet because officials worry that it might not be enough to protect physicians and women in the end, a senior administration official said.The law gives the Health and Human Services secretary the authority to extend legal protections to anyone who manufactures or administers a drug that's needed to respond to a public health emergency. It was widely used in March 2020 to protect Covid-19 vaccine makers, test manufacturers and pharmaceutical companies like Pfizer that were making therapeutic drugs like the anti-viral Paxlovid. It also protected physicians administering the shots and tests.Under that authority, HHS Secretary Becerra could designate the abortion pill, mifepristone, as drug needed to prevent a health emergency caused by reduced abortion access. This would, in theory, pre-empt state abortion bans and make mifepristone available to women in those states, opening an avenue to early pregnancy abortions.""One of the concerns we have about invoking the PREP Act is that we're concerned that we might not be able to protect women and doctors from from liability, including criminalization. So that's why we haven't yet taken that action,"" a senior administration told reporters on a call.Legal experts have said Republican state officials would immediately sue the administration for using the PREP Act to protect medication abortion and a federal court could quickly block the action from taking effect. The issue could ultimately end up before the same conservative-controlled Supreme Court that overturned Roe v. Wade.Many states that have banned abortion in the wake of the Supreme Court's decision to overturn Roe. v. Wade have also barred physicians from administering drugs to terminate pregnancies, which would include mifepristone. The state bans in most cases make performing an abortion a felony that can carry years long prison sentences.Women who receive abortions are generally exempt from prosecution under most of the state bans, but reproductive rights activists are worried that Republican state officials will ultimately try to prosecute patients who receive the procedure as well.The Food and Drug Administration approved mifepristone more than 20 years ago as a safe and effective way to end a pregnancy before the 10th week. Mifepristone is taken in conjunction with misoprostol to induce contractions that end early pregnancies.Medication abortions have become an increasingly common procedure to end pregnancies in the U.S. Mifepristone used in conjunction with misoprostol accounted for more than 50% of abortions in the U.S. in 2020, according to a survey of all known providers by the Guttmacher Institute.In December, the FDA decided to permanently lifted a requirement that women obtain the pill in person, making it easier to dispense the pill by mail through telemedicine appointments.But the physical location of the patient determines which state's telemedicine laws apply. This means women in states where abortion has been banned cannot receive the procedure through telemedicine with providers in states where it is legal.",Biden to sign executive order to help cover costs for women traveling for abortions.
"U.S. House Speaker Nancy Pelosi (D-CA) addresses reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. Register now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters Breakingviews) - China’s financial constraints raise the risk of a showdown with the United States. Nancy Pelosi, the speaker of the U.S. House of Representatives, landed in Taiwan on Tuesday despite warnings from Beijing not to visit the island it has vowed to reunify by force, if necessary. Economic volatility and vital supply chains make it hard for Chinese President Xi Jinping to retaliate against U.S. and Taiwanese companies. Oddly, that might make a military confrontation more likely.Pelosi has a record of grandstanding on China; in 1991 she unrolled a banner in Beijing’s Tiananmen Square in support of democracy protesters. Now she’s become the second speaker to visit Taiwan, following Newt Gingrich in 1997, when relations were warmer, and China was weaker. Though U.S. President Joe Biden has distanced his administration from the visit, Chinese state media is warning of a military response.For American and Taiwanese businesses, the question is whether Beijing will retaliate against them. Taiwan is vulnerable. Its exports to the mainland and Hong Kong topped $188 billion last year, accounting for over 40% of the total. For agriculture, the proportion is higher. Mainland officials banned imports of some 100 Taiwanese food products on Monday night, local media reported.Register now for FREE unlimited access to Reuters.comHowever, Beijing has little choice but to keep importing higher-value goods, like the semiconductors Taiwan specialises in. Cutting off chip supplies to Chinese manufacturers would rebound on exports; Taiwanese giants like TSMC (2330.TW) and Foxconn (2317.TW) are also huge employers on the mainland. The same applies to many American companies.China also has cause not to go overboard on choking off investment. Punishing U.S. and Taiwanese firms operating in the People’s Republic would validate those who argue that foreigners should vacate the market, as carmaker Stellantis (STLA.MI) did in July.With nearly every economic indicator headed south except for exports, Xi is under pressure as he prepares to seek a third term in office. Capital flight or trade disruption would not help his position. However, Xi may also feel obliged to placate enraged nationalists at home. That raises the chances of a military show of strength, and an accidental clash between nuclear-armed states in one of the world’s busiest sea lanes. Business peace is no substitute for the real thing.Follow @petesweeneypro on Twitter(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)CONTEXT NEWSU.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan on Aug. 2.Chinese Foreign Minister Wang Yi said on Aug. 2 that U.S. politicians who “play with fire” on the Taiwan issue will “come to no good end”.Chinese warplanes buzzed the line dividing the Taiwan Strait before Pelosi’s visit.U.S. President Joe Biden has publicly distanced himself from Pelosi’s decision.Register now for FREE unlimited access to Reuters.comEditing by Peter Thal Larsen and Oliver TaslicOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.Pete SweeneyThomson ReutersAsia Economics Editor Pete Sweeney joined Reuters Breakingviews in Hong Kong in September 2016. Previously he served as Reuters' chief correspondent for China Economy and Markets, running teams in Shanghai and Beijing; before that he was editor of China Economic Review, a monthly magazine focused on providing news and analysis on the mainland economy. Sweeney came to China as a Fulbright scholar in 2008, and in that role conducted research on the Chinese aviation industry and outbound M&A. In prior incarnations he helped resettle refugees in Atlanta, covered the European Union out of Brussels, and took a poorly timed swing at craft-beer entrepreneurship in Quito even as the Ecuadorean currency collapsed (not his fault). He speaks Mandarin Chinese, at the expense of his Spanish.",China’s economic plight ups Pelosi visit risks.
"Powassan virus, an extremely rare tick-borne illness, is trending after a severe case in a 3-year-old boy in Pennsylvania led to hospitalization.While swimming in a neighbor's pool, Jonny Simoson's mom, Jamie, noticed a tick on his back which she successfully removed, she wrote in a Facebook post. Thinking nothing of it, the family resumed their normal activities until two weeks later when Jonny's daycare informed Jamie that he was, ""mopey, had no appetite and complaining of a headache,"" she wrote on social media.After two doctor's visits, Jonny had a fever of 104, Jamie told The New York Post. His white blood cell count rose to 30,000, and he was unresponsive for almost five days. Doctors still couldn't determine what the cause was. ""Things got really scary at that point,"" Simoson said. ""It was so frustrating searching for an answer. We were terrified that we might not be coming home with our child.""Following several attempts at diagnosis, doctors eventually discovered that Jonny had meningoencephalitis — an infection of the brain and the tissue surrounding it, according to the outlet. Jonny was treated with intravenous immunoglobin and 12 days later was discharged from the hospital.It wasn't until three days after his discharge that Jonny tested posted for Powassan virus. But not all cases end like Jonny's. In May, a 90-year-old woman from Connecticut died from the tick-borne virus.If you're wondering how concerned you should be about the increasing diagnosis of this rare illness, we talked to Jonathan Oliver, assistant professor at the school of Public Health at the University of Minnesota, about the virus. Here are a few facts.Here's what you need to know about Powassan virusLess than 200 cases were reported between 2011 and 2020, according to data collected by the CDC.Powassan virus can only be transmitted by the bite of an infected tick in the U.S., based on reported cases. Many people don't develop symptoms of Powassan virus, but occasionally, for those that do, the symptoms can be severe. ""Typical symptoms early on are fever, headache, neck ache depending on what neural tissues are infected, and also vomiting,"" says Oliver. ""As the disease progresses, it gets more severe, and so you get strong neurological involvement,"" like confusion and seizures.Unfortunately, there is no real cure for Powassan virus. Treatments are usually for symptoms that occur as a result of contracting it. No vaccines are available to prevent the illness either, according to the CDC.Cases commonly crop up in the upper Midwest, like Minnesota and Wisconsin, and the northeast, especially the New England area where Massachusetts is considered the northeastern epicenter of Powassan virus.Often, diseases like the Powassan virus more commonly affect older people. ""This child was just one of the unlucky few who does develop the disease, but it can potentially affect anybody,"" Oliver says.'Prevention is always the best course for tick-borne diseases'Thankfully, there are precautions you can take, and ""prevention is always the best course for tick-borne diseases,"" according to Oliver. Using any bug repellent that has ingredients accepted by the U.S. Environmental Protection Agency, like deet and lemon eucalyptus oil, may protect you from ticks, he says.Your clothing choices could also keep you safe. Wearing long pants and tucking them into your socks is a good way to keep ticks on the outside of your clothes so you can pick them off easily, Oliver says. Doing daily tick checks is essential if you're in 'tick-habitat' because the sooner a tick is removed from your skin, the better, he notes.If you know or suspect that you have been bitten by a tick and there's a possibility that it's been on your skin for a long period of time, Oliver suggests consulting with your doctor. Ticks carry other viruses like Lyme disease which is a lot more common than Powassan virus.""Everyone should be aware and concerned of tick-borne diseases,"" Oliver says, ""If you're out in potential tick habitat, you are likely getting exposed to ticks. Especially if you're in the upper Midwest or northeast where we do have a lot of deer ticks biting humans, there's a high potential for a variety of different diseases.""Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:Monkeypox is a global health emergency—what you need to know about symptoms, vaccines and moreWhat to do if you have Covid symptoms but keep testing negative at home, according to experts",Powassan virus is in the news: Here are 6 facts about the tick-borne illness.
"A Boeing logo is pictured during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 23, 2022. REUTERS/Denis BalibouseRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - Boeing (BA.N) defense workers in the St. Louis area on Wednesday are set to vote on the company's revised contract offer after they canceled a strike that had been set to start Monday.The International Association of Machinists and Aerospace Workers (IAM) said Saturday an overnight bargaining session had led to the new Boeing offer. The union represents about 2,500 employees at the three plants.Under the new contract offer, employees can opt to receive an $8,000 lump sum payment - minus tax withholdings - upon ratification or can choose to have the entire amount deposited in a 401(k) plan. The company is dropping its revised 401(k) match proposal.Register now for FREE unlimited access to Reuters.comThe union local said in a web posting that if the contract is rejected, a strike would begin just at 12:01 a.m. Thursday.Boeing said in a statement Saturday its ""new offer builds on our previous strong, highly competitive one and directly addresses the issues raised by our employees. We are hopeful they will vote yes on Wednesday.""Workers at the three plants in Missouri and Illinois build the F-15, F-18, T-7A trainer, and the MQ-25 unmanned refueler. Boeing said on July 24 it was activating a contingency plan in the event of a strike.The standoff began after the union had criticized Boeing's proposed 401(k) payments in the contract offer and workers rejected it.""Boeing previously took away a pension from our members, and now the company is unwilling to adequately compensate our members' 401(k) plan,"" IAM said on July 24.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Boeing defense workers to vote on revised contract offer.
"Surface damage seen on Qatar Airways' airbus A350 parked at Qatar airways aircraft maintenance hangar in Doha, Qatar, June 20, 2022. REUTERS/Imad Creidi/File PhotoRegister now for FREE unlimited access to Reuters.comPARIS, Aug 3 (Reuters) - Airbus (AIR.PA) has revoked its entire outstanding order from Qatar Airways for A350 jets, severing all remaining new jetliner business with the Gulf carrier in a dramatic new twist to a safety and contractual dispute, two industry sources said.No comment was immediately available from Airbus or Qatar Airways.Launch customer Qatar Airways, the first airline to introduce the jet to the skies in 2015, is suing Airbus for at least $1.4 billion after almost half its A350 fleet was grounded by Qatar's regulator over surface damage.Register now for FREE unlimited access to Reuters.comIt has refused to take delivery of more A350s until it receives a deeper explanation or long-term fix. read more Backed by European regulators, Airbus has acknowledged quality problems on the jets but denied any safety risk.Until now, the dispute has had a piecemeal effect on the order book for Europe's biggest twin-engined jet as first Airbus, then Qatar Airways, terminated individual jets.Now, however, Airbus has told the largest A350 customer that it is striking the rest of the A350 deal from its books, the sources told Reuters, asking not to be identified. read more At end-June, the planemaker had outstanding orders from Qatar Airways for 19 of the largest version of the jet, the 350-passenger A350-1000.Register now for FREE unlimited access to Reuters.comReporting by Tim Hepher; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Airbus axes remaining A350 jet deal with Qatar - sources.
"Voyager said it has roughly $1.3 billion of crypto on its platform and holds over $350 million in cash on behalf of customers at New York's Metropolitan Commercial Bank.Justin Sullivan | Getty ImagesStephen Ehrlich, CEO of bankrupt cryptocurrency exchange Voyager Digital, made millions of dollars selling Voyager shares in February and March 2021 when shares were near their peak, nineteen months before the crypto lending firm declared bankruptcy in July 2022, financial records show.Ehrlich's gains were propelled by the stratospheric increase in Voyager's stock price, which rocketed from seven cents a share in Oct. 2020 to $26 a share by March 2021. In the same period, Bitcoin rose 455% and Ether climbed 688%. Like similarly embattled Celsius, the firm promised mammoth returns on assets that users entrusted with them. But as crypto prices went into free fall earlier this year, Voyager's business proved unsustainable, leading the firm to freeze assets that retail investors had deposited in June, then declare bankruptcy in July. Voyager had custody of $1.3 billion in customer crypto assets spread across 3.5 million active users, according to a bankruptcy filing.A complex and opaque corporate structure – including a reverse takeover of a defunct Canadian mining corporation, the acquisition and disposition of Delaware limited liability companies, and consulting fees paid out to insider LLCs – make it challenging to establish just how much the Voyager co-founder took home.What is evident, based on corporate insider disclosures and Voyager filings, is that Ehrlich made over $30 million disposing of Voyager equity as the crypto lender's shares neared an all-time high.Ehrlich and his Delaware LLCs sold nearly 1.9 million shares from February 9, 2021, to March 31, 2021, in 11 separate sales which totaled $31 million, according to data from the Canadian Securities Administration.The three largest of Ehrlich's transactions – totaling 1.4 million shares worth nearly $19 million –  were connected to a $50,000,000 secondary offering by Stifel Nicolaus in February 2021.Voyager shares would peak at $29.86 a week after Ehrlich's final sale on April 5, 2021. Three weeks later, VOYG shares had lost 41% of their value. By November 2021 — as the crypto market overall was peaking —Voyager was down 69% from its peak.Many publicly traded companies have restrictions or pre-determined trading plans on when senior executives and insiders can execute sales. In the United States, these 10b5-1 plans prevent insiders from using ""material non-public information"" to gain an advantage or profit. In Canada, these plans are known as automatic securities disposition plans, or ADSPs.On December 31, 2021, months after these insider sales, Voyager announced the adoption of ADSPs for Ehrlich and another executive, COO Gerard Hanshe. Less than a month later, on January 20, 2022, Ehrlich announced the cancellation of the ADSPs before any trades were completed under them.""Despite having a floor significantly above the current stock price, I felt it was in the best interest of the investors to withdraw the plan,"" Ehrlich said in a press release. ""Based on our key financial metrics, including revenues for the quarter ended December 31, 2021 as disclosed in our press release issued January 5, 2022, I believe Voyager is undervalued.""Ehrlich did not respond to multiple requests for comment.Voyager ran into trouble earlier this year as crypto prices dropped more than 70% from their peak last fall. In particular, the collapse of a stablecoin, Terra, which was supposed to be pegged to the U.S. dollar, sent shockwaves through the industry.Voyager disclosed to creditors on June 27 that hedge fund Three Arrows Capital had defaulted on a $650 million loan that Voyager had extended using customer assets. At the time, Voyager insisted it would continue to honor customer withdrawals and redemptions.Five days later, Ehrlich's firm froze customer withdrawals, leaving millions of users without access to their cryptoassets. ""This was a tremendously difficult decision, but we believe it is the right one given current market conditions,"" Ehrlich said in a statement.On July 6, the crypto lender filed for Chapter 11 bankruptcy protection, engaging white-shoe firm Kirkland and Ellis and investment bank Moelis & Company to advise them through the process. Numerous petitioners have moved to regain access to their holdings since the process began.The FDIC has since ordered Voyager to cease calling their products FDIC-insured, calling the claims ""false and misleading.""",Voyager CEO made millions in stock sales in 2021 when price was near peak.
"Brian Roberts, CEO of Comcast (L), and Tom Rutledge, chief executive officer of Charter CommunicationsDrew Angerer | Getty ImagesComcast and Charter, the two largest U.S. cable companies, have a broadband growth problem.As tens of millions of Americans canceled their cable TV subscriptions in the past decade, the cable industry focused on the more profitable business of selling broadband internet.Now, the number of U.S. households paying Comcast and Charter for high-speed Internet is falling for the first time, with both companies reporting residential broadband declines in the second quarter. Comcast lost 10,000 residential customers and noted it's down an another 30,000 in July. Charter dropped 42,000.Comcast CEO Brian Roberts and Charter counterpart Tom Rutledge blamed macroeconomic trends and stronger than normal gains during the pandemic as primary reasons for the losses. Comcast specifically pointed to fewer people moving as the main reason for lower connections.""There's been a dramatic slowdown in moves across our footprint,"" said Roberts during Comcast's earnings conference call last month. In the first year of the pandemic, he noted the company added nearly 50% more customers than its prior annual average growth.The abrupt end to the streak of broadband growth is a major concern for investors in Comcast and Charter, which are trading near two-year lows. Comcast shares are off about 25% year to date, while Charter is down about 33%.And while pandemic and macroeconomic trends may ease with time, Roberts also acknowledged in the earnings call another reason for the broadband dip: new competition.The rise of fixed wirelessFor decades, cable companies enjoyed having little competition in many regions of the country for high-speed internet.Then about three years ago, T-Mobile launched its fixed wireless product, a 5G high-speed broadband product that functions as an alternative to cable broadband. As of April, T-Mobile high speed internet is available to more than 40 million households across the country. Verizon said earlier this year it plans to have between 4 million and 5 million fixed wireless customers by the end of 2025.In March, Roberts dismissed fixed wireless as ""an inferior product."" T-Mobile has promised half the country will get speeds of at least 100 megabits per second by the end of 2024. Standard cable (and fiber) broadband can typically deliver speeds about twice as fast. Moreover, fixed wireless is constrained by congestion on 5G airwaves. Cable, which runs wires directly to the home, has no such limitation.""We've seen lower price, lower speed offerings before. And in the long run, I don't know how viable the technology holds up,"" Roberts said at the Morgan Stanley Technology, Media & Telecom Conference.T-Mobile charges a flat $50 monthly fee for its fixed wireless service. New Street Research estimated average monthly cable broadband revenue per use is nearly $70, and will likely rise to more than $75 by 2025.Just as T-Mobile grew in the wireless industry by offering lower prices, it appears to be doing the same to cable. In the second quarter, T-Mobile added a whopping 560,000 new fixed wireless customers as Comcast and Charter lost broadband subscribers. T-Mobile said more than half its new customers switched from cable.""Demand continues to build from dissatisfied suburban cable customers to underserved customers in smaller markets and rural areas,"" T-Mobile CEO Mike Sievert said during the company's earnings conference call. T-Mobile also noted that results of Ookla's nationwide speed test in July that showed its 5G network (187.33 Mpbs) topped Comcast and Charter broadband (184.08 and 183.74, respectively) in terms of average speed.Roberts disputed that customers are ditching Comcast for any fixed service, claiming T-Mobile's growth is based on new customers.""We are not seeing fixed wireless have any discernible impact on our churn,"" Roberts said during Comcast's earnings conference call July 28.Still, if fixed wireless continues to eat into cable broadband growth, Comcast and Charter will need to convince investors there's another reason to put their money in cable, said Chris Marangi, a portfolio manager at Gabelli Funds.""There's not an obvious catalyst,"" said Marangi. ""You're probably not going to get reinvigorated broadband growth in the next six months.""Gabelli Funds own Charter, Comcast, Verizon and T-Mobile.The cable investment fearThe fear among cable shareholders isn't just that Comcast and Charter may be at the end of an era where it comes to broadband growth. It's also that new competition will lead to lower prices. The combination of promotional pricing and stalled growth may end up turning broadband into something that looks more similar to the wireless business, which has been stymied by price wars and low profit margins for years.It's too early to tell if fixed wireless will take market share away from cable companies in coming years or if congestion issues force wireless providers to constrain the number of users, said Craig Moffett, a telecom analyst at MoffettNathanson. Moffett noted that fixed wireless uses far more data than mobile wireless but only generates about 20% more revenue based on current pricing.""Time will tell if this migration to fixed wireless is just a temporary opportunity,"" Moffett said.It's possible that fixed wireless is simply having ""a moment"" and customers will reject the service over time as being too unreliable or lacking in speed, said Walt Piecyk, an analyst at LightShed Partners.""Right now, it looks like it works. They're taking cable customers,"" said Piecyk. ""We'll see if this is sustainable two or three quarters from now.""Cable's technological advantages may swing investor sentiment back toward Comcast and Charter if fixed wireless growth subsides.""While the narrative of slowing connects ahead of increasing competition does not bode well for sentiment, we believe cable's network advantage across the majority of its footprint will drive sub growth,"" JP Morgan analyst Philip Cusick wrote in a note to clients.Cable moves to wirelessAs TV declines and broadband growth slows, the next chapter for cable will be wireless, predicted Moffett.Wireless has become cable's new growth story, as Comcast and Charter have used a shared network agreement with Verizon to boost their own mobile services. Comcast's wireless revenue grew 30% year over year in the second quarter and more than 80% from two years ago. Charter's wireless quarterly sales grew 40% from the year-earlier period; two years ago, the company didn't even break out wireless revenue because the business was so new.Comcast and Charter have to share wireless with Verizon under the constructs of their network agreement, pushing margins lower. A well-run mobile virtual network operator still only has margins of about 10%, Moffett said. But that could grow over time, he said.""Wireless may not be a better business than broadband, but it is a much bigger business,"" Moffett said.Charter Chief Financial Officer Chris Winfrey said during the company's second-quarter earnings conference call that the potential of cable wireless is underestimated.Given the push among wireless companies into broadband, along with the movement by cable companies into mobile service, some think it's inevitable the two industries will merge.""It just doesn't make any sense not to, purely from an operational synergies, from a capital-allocation synergies, from a branding-synergies standpoint,"" Altice CEO Dexter Goei told CNBC last year. Altice is the fourth-largest U.S. cable provider behind Comcast, Charter and Cox.The more services customers have from the same provider, the less likely they are to leave, Goei said.M&A as last resortA merger between Comcast or Charter with T-Mobile, Verizon and AT&T is unrealistic given the U.S. regulatory stance on market power, Moffett said. Still, different presidential administrations can have varied viewpoints on what is acceptable. For example, Sprint and T-Mobile were able to merge under the Trump administration after years of being told by government officials not to bother even trying.""Never say never, right?"" Goei said. ""Strategic transactions where you have different services, I don't understand why that should not be something that should be allowed by the antitrust division.""If a wireless-cable merger isn't in the cards, there are other potential ways deals could renew investor interest.Regional cable operator WideOpenWest and Suddenlink, an asset owned by Altice USA, are both in talks with potential buyers, according to people familiar with the matter. A transaction could lift publicly traded cable stocks by resetting the valuation multiple on the companies higher, said Gabelli's Marangi.Charter or Comcast could also buy a non-cable asset to bring renewed investor excitement to their companies.""It's Management 101; when companies go ex-growth, they look to M&A,"" said Piecyk of LightShed Partners.It's also possible investors would view an outside acquisition as a distraction rather than a new opportunity, however. Shareholders would likely resist deals for media assets, such as Comcast's past acquisitions of Sky and NBCUniversal, Moffett said.Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC.WATCH: Comcast reports flat broadband subscribers",Comcast and Charter may need new focus as broadband growth stalls amid competition.
"World August 3, 2022 / 7:02 AM / CBS/AP The U.S. Justice Department said Tuesday it is seeking possession of a Venezuelan cargo jet that has been grounded in Argentina since early June because it was previously owned by an Iranian airline that allegedly has ties to terror groups.The request to Argentina was revealed a day after an Argentine judge allowed 12 of the 19 crewmembers of the plane to leave the country as authorities continue to investigate possible terror ties of those traveling in the Boeing 747. Federal Judge Federico Villena said late Monday that the remaining four Iranians and three Venezuelans must stay.The U.S. request sent to Argentina on Tuesday followed the unsealing of a warrant in federal court in the District of Columbia that was issued last month and that argues the U.S-made plane should be forfeited because of violations of U.S. export control laws. A Venezuelan-owned Boeing 747 taxis on the runway after landing in the Ambrosio Taravella airport in Cordoba, Argentina, Monday, June 6, 2022.  Sebastian Borsero / AP The plane, according to the Justice Department, was transferred from Iranian airline Mahan Air - which officials have alleged provides support for Iran's Islamic Revolutionary Guard Corps-Quds Force - to Emtrasur, a subsidiary of Venezuela's state-owned Consorcio Venezolano de Industrias Aeronáuticas y Servicios Aéreos, or CONVIASA. CONVIASA is under U.S. sanctions. By transferring the airplane to the Venezuelan firm in October without prior U.S. government authorization, Mahan Air violated a 2008 order issued by the Department of Commerce that has since been periodically renewed, the U.S. says. The Justice Department says Emtrasur subsequently re-exported the plane between Caracas, Tehran and Moscow -- also without U.S. government approval.""The Department of Justice will not tolerate transactions that violate our sanctions and export laws,"" Matthew Olsen, the head of the Justice Department's national security division, said in a statement. ""Working with our partners across the globe, we will give no quarter to governments and state-sponsored entities looking to evade our sanctions and export control regimes in service of their malign activities."" The moves marked the latest development in the saga of the mysterious plane, which landed June 6 at Ezeiza International Airport outside Buenos Aires and was grounded two days later.The case has raised attention in several South American countries as well as the United States and Israel amid allegations that the plane was a cover for Iranian intelligence operations in the region. Iran and Venezuela vehemently deny those claims.The issue has caught the attention of members of U.S. Congress. On July 26, a dozen U.S. Republican senators wrote a letter to U.S. Attorney General Merrick Garland accusing the Justice Department of failing to assist Argentine authorities in its investigation of the Venezuelan plane.Rep. Darrell Issa, a California Republican, pressed Olsen about it at a hearing last week and lamented that in his view Iran was not receiving the scrutiny it deserved. Olsen said he was aware of the case but added: ""This is an ongoing matter. I can't talk about the specifics."" The U.S. Commerce Department took its own action Tuesday, announcing it had suspended for 180 days the export privileges of Emtrasur.The Israeli government has praised Argentina for grounding the plane and contends at least some the Iranian crew members ""were involved directly in the trafficking of weapons to Syria and the terrorist organization Hezbollah of Lebanon.""Among those who will continue to be prohibited from leaving Argentina is the Iranian pilot of the plane, Gholamreza Ghasemi.Ghasemi is a former commander of Iran's Revolutionary Guard and is a shareholder and board member of Iran's Qeshm Fars Air, which the U.S. Treasury Department has said is controlled by Mahan Air and provides material support to the Quds Force.The other crew members required to remain in Argentina are Abdolbaset Mohammadim, Mohammad Khosraviaragh and Saeid Vali Zadeh of Iran and Mario Arraga, Víctor Pérez Gómez and José García Contreras of Venezuela.""What is being investigated is whether, under the appearance of legal activity, they are financing terrorism operations (specifically with Hezbollah) or whether they are part of a plan that has ties with"" Hezbollah, the judge wrote.Villena emphasized that connections with Iran's Revolutionary Guard are not under investigation because Argentina does not consider it to be a terrorist organization. Mahan Air has denied any ties to the aircraft and Venezuela has demanded that Argentine authorities release the plane.Yet Argentine authorities who searched the plane found a Mahan Air flight log documenting the aircraft's flights after the transfer to Emtrasur, including a flight to Tehran in April, the Justice Department said.The plane was carrying cargo for several Argentine auto parts companies that it loaded in Mexico before stopping in Caracas and arriving in Argentina.The plane is also under investigation in Paraguay, where the plane landed in May and spent three days in Ciudad del Este, near the border with Argentina, where it loaded cigarettes to transport to Aruba, according to Paraguayan authorities.There are suspicions the plane's cargo was ""a facade"" that hid the real reason for its time in Paraguay, says René Fernández, a former prosecutor who leads Paraguay's National Anticorruption Secretariat.Villena said the plane's stopover in Paraguay was ""at least striking"" and added that further investigation was needed.""This seizure demonstrates the FBI's persistence in using all of our tools to hold the Iranian Government and affiliated individuals and companies accountable when they violate U.S. laws,"" said Acting Assistant Director of Counterterrorism Kevin Vorndran of the FBI.  This case is also being investigated by the Department of Commerce, Bureau of Industry and Security's Miami Field Office and the FBI Miami Field Office. In: Venezuela Iran United States Department of Justice argentina",U.S. asks Argentina to seize mysterious Venezuelan plane linked to Iran.
"Illustration of a vial of Moderna vaccine for coronavirus treatment.Marcos Del Mazo | Lightrocket | Getty ImagesModerna on Wednesday reported second quarter results that beat earnings and revenue expectations driven $4.5 billion in sales from its Covid -19 vaccine, but it's still the company's only commercially available product and it took a big hit on expiring shots.The Boston biotech company's costs rose to $1.4 billion, or 30% of the revenue generated from its vaccine. Moderna took a nearly $500 million hit on write-downs for vaccines that have expired or are expected to expire before they can be used.Moderna also lost $184 million in vaccine purchase commitments and had $131 million in expenses for unused manufacturing capacity. These charges are due to substantial reductions in expected vaccine deliveries to Covax, an international alliance that purchases shots for poorer countries. Deliveries have also been deferred for major customers such as the European Union.The Boston biotech company generated $4.7 billion in sales for the quarter, a 9% increase over the same period last year. Moderna maintained its 2022 Covid vaccine sales guidance of $21 billion.Moderna posted adjusted earnings of $5.24 per share, an 18% drop from the second quarter of 2021. The company's net income came in at $2.2 billion, a 20% drop from the same period in 2021.Moderna has a cash pile of $18 billion, and said it's going to buy back $3 billion of its shares with some of that money.Here's how the company performed compared with what Wall Street expected, based on analysts' average estimates compiled by Refinitiv:Adjusted EPS: $5.24 per share, vs. $4.55 expectedRevenue: $4.7 billion, vs. $4.1 billion expectedModerna last week announced a $1.74 billion agreement with the U.S. to supply 66 million doses of its updated Covid vaccine that targets the omicron BA.4 and BA.5 subvariants. The agreement includes an option to purchase another 234 million doses.CNBC Health & Science Read CNBC's latest global health coverage:Biden names team to manage U.S. monkeypox response as outbreak growsBiden's Covid relapse sparks talk of 'Paxlovid rebounds'—here's what you need to know about the pillU.S. secures 171 million omicron Covid shots ahead of fall vaccination campaignHealth secretary calls on Congress and states to do more to help contain monkeypox outbreakPfizer quarterly sales surge to record high, driven by Covid vaccine and antiviral treatment PaxlovidU.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreadsWHO recommends gay and bisexual men limit sexual partners to reduce the spread of monkeypox","Moderna's 2Q earnings beat expectations, but it writes off $500 million in expiring Covid shots."
"Syringes with needles are seen in front of a displayed Moderna logo in this illustration taken November 27, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Moderna Inc (MRNA.O) on Wednesday retained its full-year sales outlook for COVID-19 shot at $21 billion due to decreasing orders from low- and middle-income countries through the COVAX international vaccine-sharing program.The unchanged forecast came despite Moderna's $1.74 billion deal last week with the U.S. government for 66 million doses of a vaccine updated for Omicron subvariants. read more ""It's because of COVAX. As you remember, we have a partnership with COVAX to supply product to low-income countries. COVAX does not want the doses that they have ordered,"" Chief Executive Stephane Bancel told Reuters.Register now for FREE unlimited access to Reuters.comMarket expectations of an increase in vaccine sales have been dropping, with analysts divided on the sustainability of that dizzying growth beyond 2022 on doubts over demand for booster doses.Moderna reported $4.5 billion in sales of its shot in the second-quarter ended June 30. Three analysts polled by Refinitiv had expected quarterly sales of $3.16 billion.Shares of the company rose 3.5% to $166.47 in premarket trading after Moderna announced a $3 billion share buyback plan.Register now for FREE unlimited access to Reuters.comReporting by Manas Mishra in Bengaluru and Michael Erman in New Jersey; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.",Moderna maintains vaccine sales view as demand from low-income nations eases.
"Ukrainian President Volodymyr Zelenskyy has described the situation in the Donbas in eastern Ukraine as hellish, adding that Russia still has the upperhand in the region. Kyiv ordered the mandatory evacuation of the Donetsk, a part of the Donbas, last weekend amid severe fighting there.The first shipment of grain exports from Ukraine in months safely reached an anchorage in Turkish waters last night. The shipment will be inspected there Wednesday before carrying on its journey to Tripoli in Lebanon. The Sierra-Leone flagged Razoni departed Odesa on Monday, with Zelenskyy calling the shipment a ""positive signal.""The United States slapped more sanctions on Russian oligarchs on Tuesday, as the U.S. Senate moved closer to a vote to admit Sweden and Finland into the NATO military alliance.U.S. Secretary of State Antony Blinken spoke of fears over a nuclear accident in Ukraine. He told reporters late Monday that there are ""credible reports"" that Russia ""is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant.""Grain ship from Ukraine passes inspection, will continue passageA view of one-flagged dry cargo ship Razoni, carrying a cargo of 26,527 tons of corn, departed from port of Odessa to reach Lebanon and anchored at the Black Sea entrance of the Bosphorus as Representatives of Russia, Ukraine, Turkiye and the United Nations (UN) of the Joint Coordination Center (JCC) complete inspection on ship in Istanbul, Turkiye on August 03, 2022.Isa Terli | Anadolu Agency | Getty ImagesThe first grain shipment to leave Ukraine during the war has passed an inspection in Turkey and will soon be able to continue its journey to its final destination in Tripoli, Lebanon.""The Joint Inspection Team has completed its inspection activity on board RAZONI. The ship carrying 27 thousand tons of corn will pass through the Bosphorus to go to Lebanon in a short time,"" Turkey's Defense Ministry tweeted Wednesday.The Sierra-Leone flagged Razoni ship left the port of Odesa on Monday, making history as the first cargo ship to leave one of the country's ports in months following a block on Ukraine's ports since the start of the war in February. The impasse has contributed to global price rises and shortages in basic goods, particularly wheat.Turkey and the U.N. brokered a deal — called the Black Sea Grain Initiative — between Russia and Ukraine to enable shipments to resume, under the aegis of a Joint Coordination Centre comprising senior representatives from each of the countries.Its role is to enable the safe transportation, by merchant ships, of grain and other foodstuffs and fertilizers from three key Ukrainian ports in the Black Sea to the rest of the world. The ships have to be inspected to and from Ukraine as part of the deal with Russia, which fears they could be used to send arms to Ukraine. Kyiv, for its part, wants to ensure the correct commodities are exported.— Holly EllyattNord Stream turbine can be transported anytime, Germany saysGerman Chancellor Olaf Scholz (2nd L) and Christian Bruch (L), President and CEO of Siemens Energy, listen to Siemens' leading engineering manager Gerd Uwe Schmiedel (R) as he gives explanations in front of a turbine of the Nord Stream 1 pipeline during a visit on August 3, 2022 at the plant of Siemens Energy in Muelheim an der Ruhr, western Germany, where the engine is stored after maintenance work in Canada.Sascha Schuermann | AFP | Getty ImagesGerman Chancellor Olaf Scholz has blamed Russia for delays in the return of a Nord Stream 1 turbine that has been serviced in Canada and returned to Germany, but has not yet been returned to working use in the pipeline in Russia.""It [the turbine] can be transported and used at any time,"" Scholz said during a factory visit to Siemens Energy in Mulheim an der Ruhr, Reuters reported.""The non-fulfilment of the gas supply contracts has no technical reasons whatsoever,"" Scholz said.The German chancellor's comments come after Gazprom, Russia's state gas giant, again reduced gas flows through the Nord Stream gas pipeline, which it operates, to around 20% of the pipeline's capacity, citing the need to repair equipment.That came after a previous 10-day stoppage of gas flows for annual maintenance, including on the Siemens Energy turbine that was sent to Canada for repair work.The repair was carried out, with Canada returning the turbine in mid-July, but it has since been stuck in Germany, and was visited by Chancellor Scholz today, as it waits to be taken back to the Russian Portovaya compressor station.Germany has accused Russia of holding up the process. Russia, for its part, has repeatedly said sanctions relief would help resolve energy supply issues, and the repairing and transport of gas pipeline parts.Gazprom's gas supply curbs have provoked criticism and condemnation in Germany and the rest of the EU, which has been reliant on Russia for around 45% of its gas imports. The bloc is trying to dramatically reduce its consumption of Russian gas, and has brought in gas rationing this coming winter, but in the meantime remains reliant on the supply.— Holly EllyattCease-fire could follow grain export deal, former German chancellor saysRussian President Vladimir Putin (and then Russian prime minister) with former German Chancellor Gerhard Schroeder in 2011.Sasha Mordovets | Getty Images News | Getty ImagesGermany's former chancellor Gerhard Schroeder, who has close ties to Russian President Vladimir Putin, has said Russia wants a negotiated solution to the war in Ukraine and that the resumption of grain exports from Ukraine could provide the foundation for a cease-fire.""The good news is that the Kremlin wants a negotiated solution,"" Schroeder told Stern Weekly and broadcasters RTL/ntv in comments translated by Reuters.""A first success is the grain deal, perhaps that can be slowly expanded to a ceasefire,"" he added.Schroeder said solutions to problems such as Crimea, and the question of whether an cease-fire would see the Russian-annexed territory returned to Ukraine, could be found over time, ""maybe not over 99 years, like Hong Kong, but in the next generation.""Schroeder's close friendship with Putin is well documented and his pro-Russia views have not gone down well in Germany of late.Germany's ruling Social Democratic Party has launched proceedings that could see Schroeder expelled from the party over his close ties to Putin and Russian energy companies, as he is chairman of the Nord Stream gas pipeline shareholders' committee. He stood down from the board of Russia's state-owned oil company Rosneft in May.— Holly EllyattFirst grain shipment out of Ukraine in months reaches Turkey safelyThe first grain ship to leave Ukraine in months has arrived safely in Turkish waters, where it will be inspected before it continues its journey to Lebanon.The shipment comes after a deal was brokered between Russia and Ukraine by Turkey and the United Nations to allow vital exports to resume from the country after a blockade that contributed to global shortages of wheat and cooking oil, of which Ukraine is a major producer and exporter.The ship was carrying more than 26,000 tonnes of corn and is due to undergo an inspection in Istanbul before continuing to Tripoli.An aerial view of Sierra Leone-flagged dry cargo ship Razoni which departed from the port of Odesa Monday, arriving at the Black Sea entrance of the Bosporus Strait, in Istanbul, Turkey, on August 3, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesThe U.N.-led Joint Coordination Centre requested that all parties inform their militaries of the ship's movements in order to ensure its safe passage from Ukraine through the Black Sea, where much of the coast has been mined by both Russia and Ukraine amid the invasion, to Turkish waters in the Bosporus.The agreement, which was reached after much negotiation between the warring countries, has been hailed as a rare success for international diplomacy, with some officials hoping it could be built upon to potentially reach a cease-fire.U.N. Secretary-General Antonio Guterres said Monday after the merchant vessel, the Razoni, left the port of Odesa that it ""was loaded with two commodities in short supply: corn and hope.""""Hope for millions of people around the world who depend on the smooth running of Ukraine's ports to feed their families. The ship's departure is the first concrete result of the Black Sea Grain Initiative. It has been a long journey since I presented the proposal to the leaders of the Russian Federation and Ukraine at the end of April,"" he said. The Razoni's departure was, he added, an ""enormous collective achievement.""— Holly Ellyatt'It's just hell': President Zelenskyy describes the situation in the DonbasUkrainian President Volodymyr Zelenskyy has said the situation in the Donbas in eastern Ukraine, the epicenter of the war in Ukraine, is ""just hell.""Describing Russia's ""fire superiority"" in his nightly video message, Zelenskyy said Ukraine's forces ""still cannot completely break the advantage of the Russian army in artillery and in manpower, and this is very felt in the battles, especially in Donbas - Pisky, Avdiyivka, other directions."" ""It's just hell. It can't even be described in words,"" he added.Firefighters try to put out a fire after the Russian shelling of a house in Bakhmut in Donetsk, Ukraine, on July 27, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesWith intense fighting in the Donbas, Ukraine has ordered residents in one of its constituent regions, Donetsk, to evacuate while Kyiv discusses the need for more weapons with its international allies. NATO Secretary-General Jens Stoltenberg spoke with President Zelenskyy about more military aid for Ukraine, tweeting Wednesday that ""it's vital that NATO and allies provide even more assistance to Ukraine even faster.""People board the evacuation train from the Donbas region to the west of Ukraine, at the train station in Pokrovsk, on August 2, 2022.Bulent Kilic | Afp | Getty ImagesHe said that the two also discussed the first shipment of grain since Russia's late February invasion and subsequent naval blockade of Ukrainian ports.Zelenskyy also commented on the initial success of the Black Sea Grain Initiative, a deal between Russia and Ukraine, Turkey and the United Nations, to enable the resumption of exports of vital produce from Ukraine by sea.""Our goal now is to have regularity: so that when one ship leaves the port, there should be other ships as well - both those loading and those on the approach to the port. Continuity and regularity is the necessary principle. All consumers of our agricultural products need it,"" he said.— Holly EllyattRead CNBC's previous blog here:Two Republican senators propose amendments ahead of the vote to add Finland and Sweden to NATONATO Secretary General Jens Stoltenberg (C), Finland Ministers for Foreign Affairs Pekka Haavisto (L) and Sweden Foreign minister Ann Linde (R) give a press conference after their meeting at the Nato headquarters in Brussels on January 24, 2022.John Thys | AFP | Getty ImagesTwo Republican senators have proposed amendments on the vote to add Sweden and Finland to NATO.Sens. Rand Paul, R-Ky., and Dan Sullivan, R-Alaska, both are seeking changes to the treaty vote as Congress prepares to head into recess.Paul told NBC News that his amendment states that ""nothing in the Article Five portion of the NATO Treaty supersedes the congressional directive that we have to declare war."" The NATO provision holds than an attack on one member of the alliance is an attack on all members. Sullivan told NBC News that his amendment states that every member of NATO, to now include Sweden and Finland, should commit to the 2% of GDP spending on defense goal established at the 2014 NATO Wales Summit.The vote to include Sweden and Finland in NATO is expected to overwhelmingly pass.— Amanda MaciasU.S. slaps more sanctions on Russian officials and oligarchsRed Square, MoscowMike Hewitt | Getty ImagesSecretary of State Antony Blinken announced new sanctions on Russian oligarchs and state-owned entities.Below is the State Department's fact sheet of imposed penalties on the following Russian oligarchs:Alexander Ponomarenko ""for operating or having operated in the aerospace sector of the Russian economy. He is an oligarch with close ties to other oligarchs and the construction of Vladimir Putin's seaside palace."" He has been sanctioned by the U.K., European Union, Canada, Australia and New Zealand.Dmitry Pumpyanskiy ""for operating or having operated in the financial services sector of the Russian Federation economy."" The U.K., European Union and New Zealand have also designated him. Pumpyanskiy has ties to the yacht ""Axioma,"" which is now being identified as blocked property.Andrey Melnichenko ""for operating or having operated in the financial services sector of the Russian Federation economy."" Like Pumpyanskiy, he has also been designated by the U.K., European Union, and New Zealand.""We are also imposing additional costs on Russia's war machine by designating 24 Russian defense and technology-related entities,"" Blinken wrote in a statement. ""Russia has systematically focused on exploiting high-technology research and innovations to advance Moscow's war-fighting capabilities – the same defense capabilities that Russia's military is using in its vicious attacks hitting Ukraine's population centers and resulting in the deaths of civilians, including children,"" he added.— Amanda MaciasMarch was the deadliest month of Russia's war in Ukraine, UN saysThe United Nations Human Rights Office of the High Commissioner said that March was so far the deadliest month in Russia's war in Ukraine.There were more than 3,100 civilian casualties and 2,400 injuries due to the conflict in March, according to data compiled by the UN. Total civilian casualties from 24 February to 31 July 2022 as compiled by the United Nations.U.N. Human Rights Office of the High CommissionerThe United Nations has confirmed 5,327 civilian deaths and 7,257 injuries in Ukraine since Russia invaded on Feb. 24.""Most of the civilian casualties recorded were caused by the use of explosive weapons with wide area effects, including shelling from heavy artillery, multiple launch rocket systems, missiles and air strikes,"" the UN office wrote in a report.The human rights office added that the majority of casualties and injuries were reported in the Donetsk and Luhansk regions.— Amanda Macias",'It's just hell': Ukraine says Russia has the upperhand in Donbas; Germany blames Moscow for turbine trouble.
"Check out the companies making headlines before the bell:CVS Health (CVS) – The drug store operator and pharmacy benefits manager saw its shares rise 3.8% in the premarket after beating top- and bottom-line estimates and raising its full-year earnings forecast.  Results were helped by strong sales of over-the-counter Covid-19 tests as well as an upbeat performance by its insurance unit.Under Armour (UAA) – The athletic apparel maker gained 2% in premarket action despite cutting its full-year earnings forecast. Increased promotional activity and currency headwinds have impacted Under Armour's profit margins, but it did report earnings for its most recent quarter that matched estimates and revenue that was slightly ahead of consensus.Moderna (MRNA) – The vaccine maker reported better-than-expected profit and revenue for its latest quarter and also announced a $3 billion share repurchase program. Moderna also maintained its full-year sales outlook, and its stock gained 2.6% in premarket action.Starbucks (SBUX) – Starbucks shares rose 1.8% in the premarket after it reported better-than-expected quarterly profit and revenue. Global comparable store sales did come in below forecasts, however, due to weakness in the locked-down China market.Sierra Wireless (SWIR) – The provider of connectivity technology agreed to be acquired by Canadian semiconductor maker Semtech for $31 per share in cash or $1.2 billion. Sierra Wireless surged 7.8% in the premarket, while Semtech shares fell 1.5%.Dish Network (DISH) – The satellite TV company added 1.3% in premarket trading after reporting better-than-expected quarterly earnings. The bottom-line beat came despite a slight revenue miss and the loss of 257,000 pay TV subscribers during the quarter.SoFi (SOFI) – The fintech company's stock soared 10.9% in premarket action after it reported a smaller-than-expected loss and better-than-expected revenue. It also issued strong full-year revenue guidance. Results were helped by a 91% jump in personal loan origination volume. Match Group (MTCH) – Shares of the dating service operator tumbled 21.4% in the premarket after it reported lower-than-expected quarterly results and said top-line growth would be flat during the second half of the year. Match also announced the departure of Renate Nyborg, CEO of its Tinder unit.Airbnb (ABNB) – Airbnb reported better-than-expected quarterly earnings with its revenue essentially in line, as travel demand boomed. However, the stock slid 7.3% in premarket trading after it issued a lighter-than-expected bookings forecast for the current quarter.","Stocks making the biggest moves premarket: CVS, Under Armour, Moderna and more."
"Speculation has emerged in recent months that Credit Suisse may be considering a capital raise.Thi My Lien Nguyen | Bloomberg | Getty ImagesCredit Suisse shares slipped on Wednesday after Goldman Sachs downgraded the stock to ""sell"" following credit rating downgrades from Moody's and S&P.The embattled Swiss lender's shares were down slightly by early afternoon trade in London, having recouped some of their earlier losses, and remain down more than 42% year-to-date, as new CEO Ulrich Koerner takes the reins following the resignation of Thomas Gottstein last week. The bank announced a new strategic review after reporting a second-quarter net loss of 1.593 billion Swiss francs ($1.66 billion), well below consensus, as poor investment bank performance and mounting litigation provisions hammered earnings.Goldman Sachs noted on Tuesday that Credit Suisse has underperformed the rest of the sector by 59% since the start of 2021, due to company-specific events and industry-wide obstacles to revenue.The Wall Street giant expects this underperformance to continue over the next 12 months as investment bank returns remain suppressed through to 2024, and projected a pause in near-term wealth management performance due to outflows and subdued market performance.""On capital, while we foresee no near-term shortfall, organic capital generation is below peers and RWA (risk-weighted assets), inflation plus litigation plus restructuring has the potential to further deplete capital to a relatively low buffer vs regulatory minimums,"" Executive Director Chris Hallam and his team said in Tuesday's note.Despite the more favorable picture Goldman sees across the European banking space — in which higher interest rates will boost revenue and returns forecasts, reinvestment in new technology will enhance returns, and excess capital can be distributed to shareholders — Credit Suisse is valued roughly in line with the sector at present.""Our revised 12-month price target implies 5% upside, but in the context of c.60% upside on average across our Banks coverage, this equates to meaningful underperformance: accordingly, we downgrade the stock to Sell from Neutral,"" Goldman said.Credit downgradesMoody's on Monday downgraded Credit Suisse's senior unsecured debt and deposit ratings by one notch and maintained a negative outlook on the bank's credit trajectory.""The downgrade of CS's ratings reflects the challenges the group is facing in successfully executing on its previously announced repositioning of its investment bank in the more difficult macroeconomic and market environment as well as uncertainty as to the business and financial implications of the group's plans to take further steps to achieve a more stable, capital light and better aligned investment banking business,"" Moody's said in its update.The ratings agency also cited ""the crystallisation of large financial losses during H1 2022, resulting in stress on the bank's financial profile and potential delays in technology investments, and in the transformation of the business and an expectation of continued weak performance in 2022.""Furthermore, Moody's highlighted evidence of an erosion of Credit Suisse's market share and ""franchise impairment"" in its investment bank, following deleveraging in its capital-intensive businesses and exit from its prime brokerage business.The ongoing overhaul of its risk and compliance operations is ""lengthy and resource-consuming,"" while stabilizing the group under new leadership and a fresh senior executive team will take time, Moody's said.""These factors are partially mitigated by the firm's solid – although decreasing – capitalisation and strong liquidity and funding profiles,"" it added.Credit Suisse Chairman Axel Lehmann told CNBC last week that the new strategic review will look to accelerate restructuring efforts. The review will aim to drastically reduce the group's cost base, strengthen its wealth management, Swiss banking and asset management operations, and transform the investment bank into a capital-light, advisory-led banking business with a greater focus on markets.However, Moody's cited uncertainty over the bank's ""ability to successfully execute"" on the ""as yet to be defined"" restructuring strategy, along with ""governance deficiencies and top management instability,"" in a one-notch downgrade for corporate behavior on Credit Suisse's scorecard.S&P Global Ratings on Monday revised its outlook on Credit Suisse to negative, citing increasing risks to the stability of the bank's franchise, uncertainty around the reshuffling of top executives, and a ""lack of a clear strategy,"" along with continued weak profitability over the medium term. ""The negative outlook reflects the setbacks Credit Suisse could face in redesigning its strategy, with new management at the helm, in order to transform the bank in an increasingly difficult operating environment,"" S&P said.",Credit Suisse hit with stock and credit downgrades after earnings plunge.
"A view of the Exxon Mobil refinery in Baytown, Texas September 15, 2008. A big chunk of U.S. energy production shuttered by Hurricane Ike could recover quickly amid early indications the storm caused only minor to moderate damage to platforms and coastal refineries. REUTERS/Jessica Rinaldi Register now for FREE unlimited access to Reuters.comSummaryCompaniesOil majors return to shareholders over $29 bln in Q2Profits soar to record amid high energy pricesBut companies stick to budgetsCompanies diverge on future fossil fuel expansionLONDON, Aug 3 (Reuters) - The West's energy giants are set to return a record $30 billion to investors after reporting bumper profits in the second quarter of the year following a surge in energy prices.But the top five Western oil and gas companies have shied away from investing more of their combined record profits of nearly $60 billion in new production as they weigh the impact of recession and climate change on future fossil fuel demand.The reluctance to spend may exacerbate an energy supply crunch that has driven inflation to multi-decade highs and ignited calls from consumers and opposition leaders for governments to increase tax on energy companies.Register now for FREE unlimited access to Reuters.comThe spending approach contrasts with previous cycles of high oil and gas prices, such as the boom of the late 2000s that spurred rapid spending to boost production.""Given all the uncertainty in the world, now is not the time to lose discipline,"" BP Chief Executive Bernard Looney told Reuters after reporting BP's highest profit in 14 years.The combined oil and gas output of BP (BP.L), Shell (SHEL.L), TotalEnergies (TTEF.PA), Chevron (CVX.N) and Exxon (XOM.N) in the first half of 2022 reached 14.6 million barrels of oil equivalent per day (boed), some 10% below its pre-pandemic levels, according to Reuters calculations.Although some of the companies modestly increased 2022 spending plans in recent days, they remain within previous target spending ranges. Most of the extra funds are focused on projects that can start producing in a short timeframe or to accelerate starting dates for projects already under way.TotalEnergies raised its 2022 spending guidance by $1 billion to a range of $16 billion in part to speed up field expansions in Angola, Chief Executive Officer Patrick Pouyanne told analysts last Thursday.BP is increasing spending by $500 million this year, primarily to grow short-term production in the U.S. Hayensville onshore natural gas basin and the Gulf of Mexico, Looney told Reuters.But BP's 2022 spending budget of $14-$15 billion will remain unchanged, and does not alter its target of reducing oil and gas output by 40% by 2030 as part of Looney's ambition to shift to renewables and low-carbon energy. Around two-thirds of BP's budget is geared towards oil and gas in 2022.Although the energy crisis caused by major fossil fuel producer Russia's invasion of Ukraine has in the short term placed the focus on countries using all available supplies, even if that means carbon-intensive coal, Western governments longer term are striving to shift to low-carbon energy.The International Energy Agency in May 2021 said investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by the middle of the century to try to slow climate change.Reuters Graphics Reuters GraphicsReuters GraphicsWithin the group of leading energy companies, there has been a clear divergence as Exxon, Chevron and TotalEnergies plan to expand output in the coming years, while BP and Shell aim to keep production largely flat.Exxon expects its 2022 production to remain unchanged from a year earlier at 3.8 million boed, but plans to grow its output to 4.2 million boed by 2027, with most of the growth coming from U.S. shale and Guyana.Chevron, which is investing heavily in the U.S. Permian basin and Kazakhstan, plans an annual growth of 3% over the next 5 years to reach over 3.5 million boed from 2.9 million boed today.This year's surge in energy prices is in part the result of years of underinvestment, which meant that when demand recovered from pandemic lockdowns, energy markets were very tight even before the disruption caused by war in Ukraine.Shortly after Russia began the invasion it terms a ""special military operation"" on Feb. 24, gas prices in Europe touched record highs and international benchmark crude reached 14 year-highs.The record shareholder returns of $30 billion compare to quarterly pre-pandemic returns of between $16-$20 billion - and they are set to increase again in the third quarter, mainly in the form of buybacks.Reuters Graphics Reuters GraphicsRegister now for FREE unlimited access to Reuters.comAdditional reporting by Sabrina Valle in Houston, Editing by Louise Heavens and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.Shadia NasrallaThomson ReutersWrites about the intersection of corporate oil and climate policy. Has reported on politics, economics, migration, nuclear diplomacy and business from Cairo, Vienna and elsewhere.",Big Oil offers big returns but keeps spending tight.
"3D printed models of people working on computers and padlock are seen in front of a displayed Avast logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comSummaryCompaniesAvast shares hit record high of 683.2pCMA says deal does not create competition concernsNortonLifeLock expects to close deal in Sept.Aug 3 (Reuters) - NortonLifeLock's (NLOK.O) $8.6 billion purchase of rival Avast won provisional clearance from Britain on Wednesday, overcoming the final hurdle to creating a consumer security software giant and sending Avast shares to an all-time high.Shares in Avast (AVST.L) rose as much as 43% to 683.2 pence and U.S-listed NortonLifeLock's shares were up 3% before the bell, after the firms were forced to delay the deal's closing date pending regulatory approvals.The UK's Competition and Markets Authority (CMA) launched a deeper investigation into the deal earlier this year, noting it could harm competition and lead to British customers getting a worse deal when looking for security software. read more Register now for FREE unlimited access to Reuters.comThe deal, which would combine NortonLifeLock's strength in identity theft protection and Avast's privacy credentials, has already received the green light in the United States, Spain and Germany.Following a more detailed Phase 2 investigation, the CMA said it had concluded that the deal does not raise competition concerns in the UK.It noted that the merged company will face significant competition from McAfee and other smaller players while software titan Microsoft Corp (MSFT.O) will be strengthened as a competitor.Microsoft has ramped up its free built-in security feature, which the CMA noted offers protection which is as good as many of the products offered by specialist firms.The watchdog said it was open to responses from interested parties to its provisional findings till August 24, before issuing its final report due by September 8.Based on this timeline, NortonLifeLock said on Wednesday it expects to close the deal by early next month.Avast said it had no comment at present.""After gathering further information from the companies involved and other industry players, we are currently satisfied that this deal won't worsen the options available to consumers,"" CMA's inquiry group chair Kirstin Baker said.Register now for FREE unlimited access to Reuters.comReporting by Eva Mathews in Bengaluru; editing by Sherry Jacob-Phillips,Jason Neely and Elaine HardcastleOur Standards: The Thomson Reuters Trust Principles.",Avast shares hit record high after $8.6 bln NortonLifeLock deal gets UK nod.
"Voter mark their ballots during the primary election and abortion referendum at a Wyandotte County polling station in Kansas City, Kansas, U.S. August 2, 2022.Eric Cox | ReutersKansas voters on Tuesday overwhelmingly struck down a proposed constitutional amendment that would remove language enshrining reproductive rights in their state, in a move widely seen as a victory for abortion rights activists.The proposed amendment was the first time anywhere in the U.S. that voters cast ballots on abortion since the Supreme Court overturned Roe v. Wade in June.A ballot question, known as the ""Value Them Both Amendment,"" asked voters to decide whether the state's Constitution should continue to protect abortion rights. The proposed amendment to the state Constitution would have removed language that guarantees reproductive rights and asked voters if they prefer to put the issue of abortion in the hands of the state's Republican-controlled legislature — an outcome that abortion advocates said was all but certain to result in the elimination or curtailment of those rights. A ""yes"" vote on the measure would remove from the state Constitution the right to an abortion and hand the issue back to the state legislature. A ""no"" vote on the measure would make no changes, keeping abortion rights enshrined in the state Constitution.Anti-abortion activists had argued the Kansas ballot question created an opportunity to put the issue in the hands of the voters via elected state lawmakers. Supporters of abortion rights warned that approval of the ballot measure would almost certainly result in the elimination or curtailment of existing rights in a state that has more lenient laws on its books compared to many of its neighbors.The ballot question had been planned for more than a year, but it took on greater significance in the weeks since the Supreme Court overturned Roe v. Wade in June, ending the federal constitutional right to an abortion.Kansas Secretary of State Scott Schwab said Tuesday night that the state's polls saw ""incredibly high turnout.""Early voting in the state kicked off in mid-July, and Schwab's office reported that, as of last Tuesday — more than twice as many people had already cast early ballots than at the same point during the last midterm primary election in 2018. Groups on both sides of the issue blanketed Kansas airwaves with millions of dollars in ads.President Joe Biden said that the vote ""makes clear what we know: the majority of Americans agree that women should have access to abortion and should have the right to make their own health care decisions."" In a statement celebrating the outcome, NARAL Pro-Choice America said that the ""vote signals to Kansas and the rest of the country that Americans value reproductive freedom and will fight to protect it.""""Reproductive freedom is a winning issue, now and in November,"" said the group's president, Mini Timmaraju. ""Anti-choice lawmakers take note: The voters have spoken, and they will turn out at the ballot box to oppose efforts to restrict reproductive freedom.""Abortion rights advocates also claimed there were several factors working against them, including the phrasing of the ballot question and the timing of its placement.For one, they have expressed concern the ballot measure featured language they argued was intentionally designed to confuse voters. For example, the language used on the ballot said that a ""yes"" vote on the question would affirm that ""the constitution of the state of Kansas does not require government funding of abortion"" — even though no such requirement exists — ""and does not create or secure a right to abortion."" A ""yes"" vote would have affirmed that ""the people, through their elected state representatives and state senators, may pass laws regarding abortion,"" something lawmakers are limited in doing now based on the 2019 court ruling.Abortion rights advocates supported a ""no"" vote on the measures, which makes no changes to the status quo.On the eve of the vote, voters reportedly received misleading text messages telling them a ""yes"" vote would protect the right to an abortion, however. It's unclear who is responsible for sending out the message.A sign urging voters to reject a state constitutional amendment declaring there is no right to abortion is seen during the primary election and abortion referendum at a Wyandotte County polling station in Kansas City, Kansas, U.S. August 2, 2022.Eric Cox | ReutersAbortion rights advocates denounced the move. ""This is yet another example of the desperate and deceitful tactics of the Value Them Both campaign, lying to the voters of Kansas,"" said Ashley All, spokesperson for Kansans for Constitutional Freedom. The Value Them Both Coalition denied it was responsible for the communication.Abortion rights proponents have argued that with Roe gone, the stakes are far too high to put the issue in the hands of state GOP lawmakers. They point to several recently proposed bills that would restrict or ban abortion — including one introduced in March — that they say would certainly be re-introduced in upcoming state legislature sessions if the Kansas ballot initiative is successful.Conversely, abortion opponents maintain it is more democratic to have the issue decided by voters, via their representatives.""This is not a ban on abortion,"" Republican state Rep. Tory Marie Arnberger, a supporter of the initiative who helped get it on the August ballot, told NBC News in a recent interview. ""I am a fan of each state having their own regulations on abortion. With Roe v. Wade being overturned, that is now each state's right, and I think it's up to each state legislature to decide what is best for their state,"" she added.Sen. Roger Marshall, R-Kan, called Tuesday's results ""an enormous blow to efforts to protect the sanctity of life in Kansas.""Abortion in Kansas is legal up until about the 22nd week of pregnancy, according to the Guttmacher Institute. Under state law, women seeking abortion care are subject to several regulations such as a 24-hour waiting period between seeking consultation and receiving the procedure and parental consent for minors.Still, the rules are much less restrictive than those in neighboring states. In Missouri and Oklahoma, laws went into effect almost immediately after the Supreme Court ruling in late June that effectively banned nearly all abortion care in those states. At least 22 states have already banned or will soon prohibit abortion. The new landscape makes Kansas a regional outlier and a safe haven for women in and out of state seeking abortion care — but that could diminish or disappear if the measure passes.",Kansans vote to uphold abortion rights in their state.
"A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryKazakhstan says preferred oil price is $60-$80/barrelOPEC faces output problems to meet existing targetsU.S. seeking higher OPEC production to counter RussiaNUR-SULTAN/LONDON, Aug 3 (Reuters) - OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels to the market while most members have already exhausted their output potential.""We have always said that the preferred price corridor is $60-80 per barrel. Today the price is $100. So we might have to raise output to avoid overheating,"" Kazakh energy minister Bolat Akchulakov told reporters.The market has been largely expecting OPEC+ to keep output steady or opt for a slight increase. Three OPEC+ sources said on Wednesday they still saw little chance for an output policy change when commenting on the Kazakh minister's statement.Register now for FREE unlimited access to Reuters.comThe United States has put OPEC leaders Saudi Arabia and United Arab Emirates under pressure to pump more oil to help rein in prices boosted by rebounding demand and Moscow's invasion of Ukraine.U.S. and Western sanctions on Russia have caused prices of all types of energy to soar, resulting in inflation at multi-decade highs and central bank interest rate hikes.OPEC has been increasing output in line with its targets by about 430,000-650,000 barrels per day a month in recent months and has refused to switch to bigger output increases.Group sources have cited a lack of spare capacity among members to add more barrels as well as the need for further cooperation with Russia as part of the wider OPEC+ group.""It seems unlikely OPEC+ will do anything when it meets later today,"" said Callum Macpherson from Investec, citing rising concerns about a slowing global economy and a lack of spare capacity.""OPEC+ is struggling to meet the levels its production limits have now been raised to,"" he said, adding that a surprise decision to raise production would put oil under further pressure to fall below $100 per barrel.Benchmark Brent oil futures fell by more than $1 on Wednesday to trade just above $99 per barrel.The meeting on Wednesday will discuss production policies from September and possibly onwards starting from 1130 GMT.By September, OPEC+ was meant to have wound down all of the record production cuts it implemented in 2020 after the pandemic slashed demand.By June, however, OPEC+ was almost 3 million barrels per day below its quotas as sanctions on some members and low investment by others crippled its ability to boost output. read more Only Saudi Arabia and the UAE are believed to have some spare capacity left to increase production.French President Emmanuel Macron has said he had been told that Saudi Arabia and the UAE had very limited ability to increase oil production. read more Register now for FREE unlimited access to Reuters.comAdditional reporting by Alex Lawler, Tamara Vaal and Mariya Gordeyeva; editing Jason NeelyOur Standards: The Thomson Reuters Trust Principles.","OPEC+ might have to raise oil output so market doesn't overheat, Kazakhstan says."
"Politics August 3, 2022 / 6:12 AM / CBS News In this episode of ""Intelligence Matters,"" host Michael Morell speaks with Eric Edelman, former U.S. Ambassador to Turkey and Finland and Under Secretary of Defense for Policy, about the ongoing conflict in Ukraine and likely lessons being drawn about the West's response and the nature of the battle by the People's Republic of China. Edelman and Morell discuss a range of possible future scenarios for the war in Ukraine, exploring its military, economic and diplomatic dimensions for both Kyiv and Moscow. Edelman also offers insights into how the conflict may inform China's approach to coercive or forceful reunification with Taiwan. HIGHLIGHTS: Avoiding escalation with Russia: ""I think that the administration has been a little too concerned about the risk of escalation. And the risk of escalation works both ways, right, because we're a nuclear power, too, right? So are our French and British allies. I don't think that Putin and the Russians want to have a nuclear exchange. It would be devastating for everybody as all five of the nuclear weapon states reasserted just before the Russians invaded Ukraine. And nuclear war can and should never be waged and can never be won.""Risks of protracted conflict: ""[M]y reading of U.S. public opinion is that as long as people think there's a prospect for success for the Ukrainians, they'll be willing to support Ukraine. I think if it begins to devolve into something that looks like another frozen conflict, endless war, I worry that some of that support will dissipate. And then, of course, as we've been saying, if it goes long in time, actually favors Russia on the economic front, that could have very bad consequences as well."" Lessons China is learning regarding Taiwan: ""[A]s we begin to focus on these Indo-Pacific challenges and particularly the challenge of China and Taiwan, we have to worry that Xi Jinping begins to become concerned that time might be running against the PRC, which has its own set of internal challenges - you know, demographic and environmental and otherwise, and that they decide that they need to go early rather than later.""  Download, rate and subscribe here: iTunes, Spotify and Stitcher. INTELLIGENCE MATTERS - ERIC EDELMANPRODUCER: OLIVIA GAZIS MICHAEL MORELL: Eric, welcome back to Intelligence Matters. It's great to have you on the show again.ERIC EDELMAN: Michael. It's always great to be with you. Thanks for having me back. MICHAEL MORELL: You're welcome. So, Eric, before we jump into Ukraine and where we are in the war, I want to ask you just two questions about your career. The first is, I know that early in your career, you worked on the Soviet Union at both the State Department, and you served at the U.S. Embassy in Moscow. And I'm just wondering to what extent that those experiences shaped your views of Russia today and how you think about Russia today? ERIC EDELMAN: Yeah. Well, you know, it won't surprise you that those experiences, you know, shaping in a very fundamental way. I was on the Soviet desk in the State Department in the mid-eighties at the very, very height of the Cold War. I had been special assistant to Secretary of State George Shultz during the Able Archer episode, which arguably brought us close to a potential nuclear war. And then I went to Moscow and served in the embassy in a period of high perestroika, a great optimism about change and reform in the Soviet Union, and then continued to work on those issues, including at the Pentagon, when the Soviet Union collapsed and then worked with Strobe Talbott and others on the process of NATO enlargement in the late nineties and reform in Russia as a kind of independent state. And so, I was filled with lots of optimism about Russia in the 1990s. And then I got to observe from very nearby, as ambassador to Finland, as things began to turn in a different direction. And as you can imagine, Michael, the Finns are very close observers of what goes on right across there; a roughly 800 mile border with with Russia. And from the get go, I have to say, I had a lot of concerns about Putin, as did a lot of my Finnish colleagues and friends who were close observers of Russia. And unfortunately, I think Putin has taken the country in a very unhealthy direction by installing a kind of regime of, a kleptocratic regime of his cronies, most of whom come from the KGB. And really, the KGB took back the country after he became, first, prime minister and then president. MICHAEL MORELL: So the second question I want to ask you, Eric, relates to the fact that you were the assistant to the Secretary of State, George Shultz. And I think he's one of the best secretaries of state that we have had. And I wonder what you learned from the secretary that shaped your foreign policy thinking in general and how you approach an issue like Ukraine today? ERIC EDELMAN: Well, I agree, Michael, with you that George Shultz was during my 30-year career in the State Department, the best Secretary of State who served, who I served under. And I used to joke, including with him, that there's an old saying that, 'No man is a hero to his valet,' but as someone who schlepped George Schultz's briefcases around the world for for two years, he was and remains my hero. I mean, he was very calm and very collected and very considered. And he never lost his cool. But he was very analytical. He brought a wealth of experience. He'd been multiple cabinet secretaries - been Secretary of Labor, Secretary of the Treasury before he became Secretary of State. He'd been the head of a Fortune 500 corporation. He'd been the dean of the business school at the University of Chicago, an economist. He just had an enormous amount of - head of the Policy Council. He'd been just very, very experienced. And he brought all of that to bear. And I learned a lot of different things from him. One of the things I learned from him was that demography is destiny. And as a result of his tutoring, I have remained very interested in demographics of various countries ever since. And he had a great strategy for dealing with the Soviet Union, which entailed a very broad array of issues. It wasn't just arms control, although he pursued arms control with the Soviet Union, but it was human rights. It was pushing back against Soviet proxies in the Third World. It was economic. He had a variety of different tools in the toolbox to deal with the Soviet Union under President Reagan. And a strategy that, ultimately, I think was very successful and paid huge dividends, not just during the Reagan term, but during the term of George H.W. Bush, when the Soviet Union ultimately first saw its external empire collapse and then it collapsed as well. MICHAEL MORELL: Okay. Let's switch to today, Eric. In just a few weeks, we're going to hit the six-month mark since the full-scale Russian invasion of Ukraine, which was February 24th. And as we approach six months, we'll talk about where the conflict stands today and maybe we can break it down into three pieces as we go through this. One is, where are we on the battlefield? Second is, where are we in the economic struggle that's associated with this war between Russia and the West, which captures Ukraine in the middle? And then where are we in the fight, for want of a better phrase, the hearts and minds of swing countries around the globe regarding Russia's behavior here? So let's take those one at a time and maybe start with the battlefield. ERIC EDELMAN: Sure. Those are - it's a great way to break it down, I think. So on the battlefield, of course, the Russian maximal objectives of, as they put it, demilitarizing and 'de-Nazifying' Ukraine, which essentially meant regime change in Ukraine and turning it into a Russian vassal state or diminishing a rump Ukraine in the west and absorbing most of the eastern part of the country - That is no longer feasible, I don't think, for Putin, because the military has performed so poorly and because the Ukrainians have performed so well. I mean, it's not just that the Russians have performed poorly - and a lot of that goes to the corruption in the society. I mean, every military is a expression of the society out of which it grows. And corruption is endemic in Russia. It's not a flaw in the system. It is the system. That's not surprising that that would also manifest itself in the military and that that would have enormous deleterious impact on the ability of the military to actually execute a fairly complicated combined arms operation. I think there was some concern in the last few weeks that as the Russians sort of regrouped and pursued some more limited objectives - which appeared to be fully conquering the Donbas, that's the two provinces of Donetsk and Luhansk in the southeast of Ukraine - that the Russians would be able to succeed in doing that, perhaps annex those portions of Ukraine and then hold the areas in the south of the country that they've seized, essentially a land bridge between the Donbas along the coast down to Crimea, which of course, was seized and annexed in the 2014, 2015 war. What I think is now happening is there was some limited Russian advances in Luhansk, which they've basically now got most of Luhansk under their control. But in Donetsk province they've had great difficulty moving very far. Some of that has to do with just the exhaustion and depletion of their forces after five months of war. And they've taken enormous casualties. I mean, I saw yesterday, I'm sure you did, Michael, as well, the revised estimates by the U.S. government that the Russians may have lost 75,000, killed and wounded in this military operation, which is about 50% of what they started out with. I actually think those are probably conservative estimates. I suspect the losses are probably higher. And what that raises is the question of what military experts like to call the culmination of the Russian advance, where they're no longer able to actually move forward anymore. Now, there have been a lot of predictions about this offensive in the Donbas, culminating, and so I don't want to add another prediction, but it does seem that they're having great difficulty actually moving very far. And a lot of that has to do with the very smart way the Ukrainians have been fighting and the way they've been using the military equipment that we have provided them, particularly the HIMARS, the high mobility artillery system that we've provided them with, that has basically rocket-powered artillery shells, the so-called GMLRS. These are very precise rounds, which have a range of about 80 kilometers. And they have very systematically attacked the weakest point of the Russian military operation, which is the logistics. And they've made it very difficult for them to operate. What they've also done in the south, which is going to be very important for the next topic we'll talk about, which is the economic war - they have been isolating the Russian forces in Kherson City, and I think they're making it very difficult. Again, going after the logistics, taking out bridges through which the Russians are resupplying their forces. They're going to make the position of these forces in Kherson untenable. And I think there's a likelihood that they will take back Kherson City. Now, whether they can move to a broader counteroffensive from that, I don't know. But I would basically say from the point of view of the battlefield today, Ukraine is doing very well, Russia not so well. My own view is we ought to be giving the Ukrainians more equipment and faster, more HIMARS, more rounds. I would also be in favor of giving them the ATACMS rounds, which have a 300 kilometer range. There are issues we can talk about with regard to escalation and also whether they can attack Russia that are involved there. But that would be my view. I think, as our former colleague Eliot Cohen has written, the idea of titrating out, in little drops, the equipment we're giving the Ukrainians is not, I think, the best way to go about this. on the economic side. MICHAEL MORELL: Okay, Eric, let's switch to the economic fight. ERIC EDELMAN: Yeah, on the economic side, I have more concerns. And there's no doubt that the Russian economy has been hard hit by the sanctions. They've managed to keep the value of the ruble from completely collapsing, but I'm not sure that's the only measure. There was a recent study out of the Yale School of Management by Jeffrey Sonnenfeld about the state of the Russian economy, which is very dire in terms of the ability of the economy to actually produce things. I mean, automobile manufacturer, for instance, has virtually ceased in Russia. So Russia is definitely feeling the heat of the sanctions. But, even if you believe some of the most dire predictions, the Russian economy is going to contract by somewhere between 15 to 30% this year. The Ukrainian economy has already contracted by 45 to 50%. And in particular, as you know, Michael, they have 22 million tons of grain in silos. They're about to start the the summer harvest, which means more grain is going to be piling up and that's an issue both for Ukraine in order to be able to earn the export earnings - they're one of the largest wheat and sunflower oil exporters in the world. And so there are knock on effects to global food security. But just for the economy to be able to survive, they need to get that out. Now, there's an agreement that's just been reached among Turkey, the U.N., Russia and Ukraine, although not a direct agreement between Ukraine and Russia, to open the port of Odesa and get some of this stuff out. I mean, the ink was not even dry on the agreement when the Russians were shelling some of the port facilities, grain storage, etc., which raises the question of how effective the agreement is going to be and how easy it's going to be for for Ukraine to survive economically. The government is running an $8 to $9 billion deficit a month, some of which is being plugged by money from the $40 billion that the U.S. Congress appropriated. And there's some money coming from the E.U. But none of that, I mean, it doesn't add up to plugging plugging the gap. So, Ukraine, of course, is, I think, fighting a war for survival. And that means that you can maybe survive really dire circumstances. But I worry that as time moves on, as we get into the fall, as the weather gets colder, you might start to see some of the allied unity begin to break down on the sanctions front. And whether Ukrainians can persist in this heroic resistance against Russia, I don't know. So I'm fairly confident about the military battlefield. I'm less confident about the economic battlefield. And that's one reason why, as I was saying before the break, I think it's imperative to get the Ukrainians as much military materiel and arms as we can. It would be very important if they can actually just win this on the battlefield by the end of the summer or in early fall. MICHAEL MORELL: So, Eric, I want to jump now to the third piece, which is, there's a large number of countries in the world that are kind of on the sidelines here. A small number of countries that have joined arms with the United States and imposed sanctions. But a much larger number of countries who are just on the sidelines. Why is that, number one? And is there any chance of changing that, number two? ERIC EDELMAN: Well, first, let me just say that I think the Biden administration deserves a lot of credit for maintaining an extraordinary degree of allied unity in terms of NATO and the European Union. I think that in terms of the transatlantic relationship, I'm not sure, given, all the uproar over the last several years about the U.S. commitment to NATO and Europe, that one would have predicted that in the face of this military invasion, this unprovoked war of aggression by Putin, that you would have as much allied unity as you've had. And so I think the administration deserves a lot of credit for that, particularly Secretary Blinken, who I think has done an extraordinarily good job of alliance management, which is especially - MICHAEL MORELL: Especially through Japan and South Korea - ERIC EDELMAN: Yeah. And I mean, I include them as part of the West, really. And I think that's right. I think what you're talking about is in the third world where - what we used to call the third world or the nonaligned world - where the attitudes are much more ambivalent. And there, in some places like sub-Saharan Africa, some parts of the Middle East that are actually - or in East Asia, which are actually very dependent on some of these agricultural exports. I think the Russians have done a pretty good job of muddying the waters about who's really responsible for this. I mean, you and I would look at this and say, 'Well, there's not even a question here. This is all because Russia started this war, because they were blockading the ports, southern ports of Ukraine.' A blockade is an act of war, even though Putin has said this is a special military operation, not a war. But, you know, they, in fact, have been blockading. They've moved their ships back a little bit since the command ship of the Black Sea fleet, the Moskva, was sunk by by the Ukrainians using anti-ship cruise missiles. But they're still responsible. But they've done a great job of saying, 'Well, no, it's really NATO that's responsible for this. It's the U.S..' And that, I think, falls on relatively fertile ground. And there's always a current of anti-Americanism in the post-colonial world. And we have, I think, not been as on our toes fighting this in the public diplomacy realm as we should be. Some of that, I think, is from chronic underfunding of the State Department's platform. Some of it's because we've just gotten out of the habit of doing that kind of thing. And I think that's a real problem going forward. I think we're going to have to be much more active countering this Russian offensive. I mean, you'll note that Foreign Minister Lavrov has been touring Africa, trying to reiterate this Russian line of of argument that this is not their fault - and I think the reason that they reached this agreement with the U.N. and with Turkey to open the ports is in part to, run counter to the argument that we have made, that this is Russia's fault. And so they're saying, 'Look, see, we're negotiating the opening of the port. Don't blame us.' Of course, the fact that they then immediately shelled Odesa, which may in part be an effort to drive up the insurance costs that make it prohibitive to get Ukrainian grain out of of the port of Odesa belies all that. Yeah, but there you go. MICHAEL MORELL: So Eric, we're going to come back to the question of U.S. policy. And I'd say, and I think you'd agree with me, that several things should be driving us. One is our policy objectives. What do we want to achieve here? How much of an economic price do we want to pay and how much risk are we willing to take with regard to escalation? And I'm wondering if you would add anything to that list. And then, more importantly, how do you assess how the administration has thought about those things as it's put its policy together? Are we thinking about all those the right way, particularly escalation and our policy objectives? ERIC EDELMAN: Yeah. I mean, the only thing I would add, Michael, is I think one of our policy objectives is a broad strategic one, which has to do with global order and allowing unprovoked, premeditated aggression to take place between two countries where the United States is not completely outside of this. We signed a number of agreements at the end of the Cold War with Russia, with Ukraine, that had to do with Ukraine giving up its claim to the nuclear weapons that were left on its soil after the breakup of the Soviet Union, which assured them that the United States - and Russia and Britain and France were also associated with this in different ways - that Ukraine would be allowed to exist within its then-existing borders, which included not just the Donbas, but also Crimea. And that they would not be threatened with the use of force. Now, Russia has violated all that. That's a major blow, I think, to the nonproliferation regime, which is a major U.S. interest, global interest and objective. And it just tears at the fabric of international order and provides an incentive, potentially, for instance, to the PRC when it looks across the strait at Taiwan or to the DPRK or to the Islamic Republic of Iran. And so in terms of global order, making sure that Putin fails, it seems to me, is an absolutely overriding U.S. objective. There is a concern about escalation, and I accept that. I mean, Russia is a nuclear power. It's an enormous nuclear power. It actually has a nuclear arsenal that, at least numerically, is larger than ours by a few warheads. But I think that the administration has been a little too concerned about the risk of escalation. And the risk of escalation works both ways, right, because we're a nuclear power, too, right? So are our French and British allies. I don't think that Putin and the Russians want to have a nuclear exchange. It would be devastating for everybody as all five of the nuclear weapon states reasserted just before the Russians invaded Ukraine. And nuclear war can and should never be waged and can never be won. That remained the case during the Cold War, when both sides had even larger arsenals of nuclear weapons. We fought proxy conflicts in Korea and in Vietnam and elsewhere around the world and escalate that to nuclear exchange. I think it's possible to manage this now without worrying about it. And I think the administration has been so worried about what might provoke Putin and so busy describing what it won't do because it might provoke Putin that they haven't really, I think, done something very fundamental, which is try and raise concerns in his mind about what he might do that would lead us to escalate. And I think, you know, Henry Kissinger has for years pointed out that deterrence, what we think deters people is not important. It's really what goes on in their minds. And you can never really know that. So you really have to focus on trying to deal with their perceptions rather than put your perceptions in the place of of what they might be thinking. MICHAEL MORELL: So, Eric, this is a bit of a tough question, but let's give it a go anyway. Can you talk about what you see as the most likely scenarios over the next several months? Are we stuck in a stalemate here? Can the Ukrainians actually win? Is there a way for Putin to get his momentum back? How much of what the United States does really matters to these scenarios? Can you kind of paint a picture of where we might be going? ERIC EDELMAN: Well, I think let me start with the last, Michael. I mean, what we do matters enormously, and it already has mattered. It's as we were saying earlier in the conversation, U.S. assistance first, in the form of javelins and stingers in the early stages of this war, and now with the with artillery and particularly the HIMARS, we've made an enormous difference on the battlefield. That's not to take anything away from the Ukrainians. I mean, they have shown themselves to be very adept at using what we've given them and and very creative in the way that they have dealt with this Russian aggression. But we've made a huge difference and we can still, I think, make a huge difference. I think it's going be very difficult for Putin to get the initiative back, in - certainly in a military sense, because of the damage that's been done to his forces, and it's really the personnel and the leadership - there have been enormous losses of leadership, general officers, colonels, lieutenant colonels. They're finding it - because he doesn't want to declare a national mobilization and doesn't want to say that this is a war, they're having a lot of difficulty replacing the forces that they've lost. And I think that's going to continue. So I think it's going be very hard for them to recover the initiative. The big military question and I don't have an answer for it, is whether the Ukrainians can move from the strategic defensive, which they've executed pretty brilliantly, I would argue, and transition from that to a counter-offensive that would either drive Russians forces out back to the pre February 24th lines, which would still leave Russia occupying about a third of Luhansk and Donetsk, which they occupied before February 24th. And I don't know whether the Ukrainians are going to be able to do that. And then the other issue is whether this does turn into kind of a frozen conflict, a sort of stalemate, as you were suggesting. And I worry about that because that would then maybe put this conflict on to the kind of economic basis that we talked about earlier, where, as I said, I have some worries about the long-term issue of who has time on their side, whether it's Russia or Ukraine. We don't know the answer to that. But I worry that the Russians might be able to make time work for them. And again, that's one reason why I would like to maximize the effort we're putting into doing it. There might be, I think, a temptation in some quarters to play for a tie, to say, 'Well, you know, stalemate is okay because it means Putin has not achieved his objectives.' But I worry that a stalemate could be bad both on the battlefield and at home for the battle for public opinion in the United States, because there's been very good support publicly for supporting Ukraine. But my reading of U.S. public opinion is that as long as people think there's a prospect for success for the Ukrainians, they'll be willing to support Ukraine. I think if it begins to devolve into something that looks like another frozen conflict, endless war, I worry that some of that support will dissipate. And then, of course, as we've been saying, if it goes long in time, actually favors Russia on the economic front, that could have very bad consequences as well. MICHAEL MORELL: So, Eric, I want to actually go backwards in time here and talk about how we ended up here. So, as you know, Putin came to power in 2000. He served as the Russian president for all but four of the years since. And during those four years, he served as prime minister. And I'm wondering if you think that where we are today was inevitable, given who Putin is as a person and given the degree of Russian nationalism and perceived Russian grievances. Or do you think the circumstances of the last 22 years brought us here, or perhaps at some combination of all of that? So how do you think about how we got here from where we started way back in 2000? ERIC EDELMAN: Yeah, I think it is a combination of things. I think if you look at something like Catherine Belton's book, Putin's People, she was the former Financial Times correspondent in Moscow, very well-connected. Or the late Karen Dawisha's book, Putin's Kleptocracy. It seems pretty clear that there was a core of folks from the KGB who, even as the Soviet Union was collapsing, were both taking advantage of their privileged position in the system to both enrich themselves, but also to plot and plan to take over the state to further their own, largely personal interests. Although I don't doubt that it's got a mixture of kind of Russian nationalism and nostalgia for great power status and what what have you. And that, I think, was inevitable. I don't think there was much we could have really done about that. I mean, we probably could have been a little more vocal about some of the violations of rule of law, the arrest of, you know, Khodorkovsky and jailing of Khodorkovsky for ten years, the crushing of the independent media. I mean, we could have been more outspoken about that, I suppose, but in the end of the day, I'm not sure that would have changed anything that much. And there is also, you know, circumstance. I mean, I think there are some things that we did, some that at the time people may not have even appreciated as much. I'm thinking, for instance, of our recognition of the unilateral declaration of independence by Kosovo, which the Russians have subsequently used as an excuse for, for instance, recognizing separatists in Ossetia and Abkhazia in Georgia, and to some degree, same argument they're making in the Donbas and in Crimea and in Ukraine. So there were some of the things we did. There's no doubt there are other things we did that were irritants. But the biggest thing that happened, and I don't think we could have controlled that, was the eruption of the color revolutions, in particular the color revolution in Ukraine in 2004 and 2005. And I think that was extremely unnerving to Putin because his conclusion was erroneously, I think, that, A, the U.S. was behind it, and B, that our ultimate objective was to impose a color revolution on Russia and overthrow him. MICHAEL MORELL: Right. Absolutely. ERIC EDELMAN: And the other thing I would say that I think kind of brought us to this pass was the way we responded in 2014 and 2015. I think the Obama administration, which did impose sanctions - and I don't want to be overly critical, but I think it was pretty clear that President Obama, who did not, for instance, favor giving Ukraine lethal military assistance, believed that as several people who spoke to him about this at the time have told me, that Russia always was going to care more about Ukraine than the United States, that Russia had escalation dominance because Ukraine was very close to Russia, very far from the U.S., and that therefore we should not get into any kind of proxy conflict there. My own view at the time was - and today remains - that we should have been providing more assistance to Ukraine, we should have been making it much more difficult for Putin. And in part, I think, because in terms of deterrence, we would have wanted him to be thinking, 'If the Americans are willing to do this for a country that they've offered assurances to but have no treaty obligation to, what would they do to defend countries like Estonia, Latvia and Lithuania, to whom they have an actual treaty obligation?' So as as part of deterrence, I think making life difficult for him in Ukraine was an important step. And I think we missed that opportunity in the period after 2014. MICHAEL MORELL: So, last couple of questions, Eric. I want to ask about China. As you know, the Chinese supported this invasion and they still do, at least rhetorically. So, really two questions. One is, have you learned anything new about China? How you think about China based on how it handled this invasion? Or have you just had your prior beliefs reinforced about China? ERIC EDELMAN: Question one - yeah, it's an interesting question. So right before the February 24th invasion, Putin and Xi met and they declared an endless partnership. What's interesting, since the war began, the endless partnership might have been consummated had the Russians actually achieved their objectives in 72 hours as they hoped to, and kind of just rolled over and decapitated the Zelenskyy government and occupied Kiev and Kharkiv and most of the eastern Ukraine and just dismembered the country. But when it proved to be more difficult and the sanctions started to be applied to Russia, I think the Chinese have been very careful. I mean, they certainly provide lots of rhetorical support for the Russians, but they haven't produced a whole lot. They haven't really provided a lot of material support to the Russians. And I think they're watching this, you know, very closely. And obviously, they have other considerations in mind. They are a couple of different lessons that the Chinese could be learning from this. And I don't think we know the answer to this, Michael. I mean, maybe you and perhaps some of your former colleagues who are still in government today have a better idea of this than I do. But, on the one hand, they could be learning the lessons that I think a lot of our colleagues in the Department of Defense have told me they think that the Chinese are learning: Combined arms operations are actually really difficult. You know, if your military hasn't fought in a war in a long time or if the last time they fought was 1979 against the kind of smaller power and they didn't do that well, maybe you want to think twice about launching an amphibious operation against Taiwan, which is, of all the combined arms operations you can do, perhaps the most challenging and difficult. You know, maybe the folks on Taiwan will react kind of the way the Ukrainians have and resist. That might be kind of difficult. And so all of those sort of cautionary lessons could be what people in ","Former diplomat, defense official Eric Edelman on battlefield lessons for Ukraine, Taiwan — ""Intelligence Matters""."
"American multinational clothing brand Under Armour store seen in Hong Kong.Budrul Chukrut | SOPA Images | Lightrocket | Getty ImagesUnder Armour on Wednesday cut its profit forecast for the fiscal year 2023 as more promotions on its athletic apparel ate into margins. The company now expects earnings per share for the full year to come in between 61 cents and 67 cents, down from an earlier guide of between 79 cents and 84 cents. Gross margin is expected to be down 375 to 425 basis points, a worsened outlook from the previous range of 150 to 200 basis points.Still, Under Armour's fiscal first-quarter results matched Wall Street expectations. The stock gained roughly 2% in premarket trading following the report. Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 3 cents, adjusted, vs. 3 cents expectedRevenue: $1.35 billion vs. $1.34 billion expectedGross margin for the period declined 280 basis points compared with the prior year. Net income before adjustments was $7.68 million, or 2 cents per share.This story is developing. Please check back for updates.",Under Armour cuts profit outlook for the full year as promotions eat into margins.
"Speaker of the Arizona House of Representatives Russell Bowers (R), testifies during the fourth hearing of the Select Committee to Investigate the January 6th Attack on the United States Capitol on June 21, 2022.Tom Williams | CQ-Roll Call, Inc. | Getty ImagesRusty Bowers, the Republican speaker of the Arizona House who delivered gripping testimony earlier this summer to the House committee investigating the Jan. 6 Capitol riot, lost his bid for a state Senate seat on Tuesday to a candidate backed by former President Donald Trump, NBC News projected.Armed with Trump's endorsement, former state Sen. David Farnsworth held a lead of more than 20 points over Bowers in their bid for Arizona's 10th District as of 1:15 a.m. ET.Bowers, who testified to the committee of the effort by Trump and his allies to get him to overturn the 2020 election in his state, told NBC News last month it would be difficult for him to pull off a victory in his state Senate race.""It's so hostile,"" Bowers said then of the political environment in a phone interview, noting the overwhelming pro-Trump preference of his state Senate district, Arizona's 10th. ""If I pull this off, it's going to be a miracle.""Just weeks after Bowers' testimony, the Arizona Republican Party censured him, saying he ""has demonstrated he is unfit to serve the platform of the Republican Party of Arizona and the will of the voter of the Republican Party in Arizona"" and called on voters ""to expel him permanently from office.""It is highly unusual for a state party to make such a proclamation ahead of a contested primary.Trump attacked Bowers on Monday on his Truth Social platform, writing: ""Remember Arizona, your so-called 'Speaker,' Rusty (an appropriate name because he is Rusty, just like steel gets rusty and weak) Bowers, is absolutely terrible.""He called on Arizonans to ""Vote him out!""Bowers, who has served a combined 17 years between Arizona's state House and Senate, received the John F. Kennedy Profile in Courage Award this year for his handling of the post-election period. His race served as the first and possibly only test this cycle of whether a Republican can publicly cross Trump before the Jan. 6 panel and still win a GOP primary — one that took place while Bowers' testimony was still fresh in voters' minds. Weeks ago, the conservative legislator told the committee he knew Trump and his allies were pursuing an unconstitutional effort in trying to have him invalidate the 2020 election in his state, which President Joe Biden narrowly carried.""It is a tenet of my faith that the Constitution is divinely inspired, that this is my most basic foundational belief,"" Bowers, a member of the Church of Jesus Christ of Latter-day Saints, told the committee. ""And so for me to do that because somebody just asked me to, is foreign to my very being; I will not do it.""Speaking with NBC News, Bowers described the response to his testimony in his district as mixed.""Among my friends and people that I know personally in the district, it's been good,"" he said. ""But generally, it is not seen as good. It's been: 'There you go. The traitor.'""He also said he disagreed with people who tell him his decision to testify took courage. ""I don't see me having some courageous Don Quixote-esque [moment]. Maybe that's it, but certainly not a Joan of Arc,"" Bowers said. ""But I did what I had to do. I knew that there might be consequences, and in some cases, I knew that it would end relationships. But I have to tell the truth. That's it. Beyond that, nothing else.""Soon after Bowers' public testimony, Trump offered a full-throated endorsement of Farnsworth.Bowers described Farnsworth as a back-bencher who ""did exactly zero"" while previously serving in the state Senate for eight years.The House speaker promoted legislative wins from his most recent term, including overseeing the passage of a budget package with bipartisan support and legislation intended to bring new water sources to the state — one in which conservation issues loom large.Farnsworth touted his Trump endorsement prominently, while also claiming to be the best candidate to tackle inflation, migration at the border and overhaul elections.Asked what a Farnsworth win would say about the state of the party, Bowers said then: ""It says that Mr. Trump has, there's a very, I would almost call it cultic appeal.""","Rusty Bowers, a Jan. 6 committee star witness, loses GOP primary in Arizona."
"Aug 3 (Reuters) - Pro-Trump operatives are flooding local officials with public-records requests to seek evidence for the former president’s false stolen-election claims and to gather intelligence on voting machines and voters, adding to the chaos rocking the U.S. election system.The Maricopa County Recorder's Office in Arizona, an election battleground state, has fielded 498 public records requests this year - 130 more than all of last year. Officials in Washoe County, Nevada, have fielded 88 public records requests, two-thirds more than in all of 2021. And the number of requests to North Carolina’s state elections board have already nearly equaled last year’s total of 229.The surge of requests is overwhelming staffs that oversee elections in some jurisdictions, fueling baseless voter-fraud allegations and raising concerns about the inadvertent release of information that could be used to hack voting systems, according to a dozen election officials interviewed by Reuters.Register now for FREE unlimited access to Reuters.comRepublican and Democratic election officials said they consider some of the requests an abuse of freedom-of-information laws meant to ensure government transparency. Records requests facing many of the country's 8,800 election offices have become ""voluminous and daunting"" since the 2020 election, said Kim Wyman, head of election security at the federal Cybersecurity and Infrastructure Security Agency (CISA). Last year, when she left her job as Washington secretary of state, the state’s top election official, her office had a two-year backlog of records requests.""You still have a group of people in each state that believe that the election was stolen,"" said Wyman, a Republican.In April, the official in Arizona’s Maricopa County in charge of responding to public records requests, Ilene Haber, assigned four of her nine staffers to pull 20,000 documents out of holding boxes, sort them for scanning, and then carefully return them to their proper place. It took four days.The staffers were filling just one of several records requests from Haystack Investigations, who had asked for chain-of-custody records for all 2.1 million ballots cast in the election. The firm says on its website that it conducts a variety of investigations for companies, law firms and individuals. The company worked on Arizona's ""forensic audit,"" the examination of Trump's defeat in the county by pro-Trump partisans that ended last year without uncovering voter fraud.The labor-intensive Haystack requests illustrate the growing challenge facing stretched election offices across the country. In Maricopa County, which includes Phoenix, extensive requests like the one submitted by Haystack make up about one-quarter of the total the office has received this year, said Haber, the director of communications and constituent services in the Maricopa County Recorder's Office.""The requests are getting bigger, more detailed, more burdensome, and going back even further” in time, she said.Heather Honey, who heads Pennsylvania-based Haystack, said the requests were unrelated to the firm’s work on the Arizona audit and were for her own research. “All are meaningful and contribute to specific professional research activities,” said Honey, who has sought similar election-related records in Pennsylvania.The local officials told Reuters that the surge in requests from election deniers is drowning their staffs in extra work at a time when they are struggling to recruit and retain voting administrators vital to democracy. Election workers have already endured an onslaught of death threats and harassment from Trump activists. Reuters has documented more than 900 such hostile messages since the 2020 vote.""The concern is burnout,"" said Jamie Rodriguez, the interim registrar of voters in Washoe County, Nevada. ""With burnout does come the potential for mistakes.""Rodriguez took over this week from the former registrar, who resigned after being targeted with death threats and other harassment.Ryan Macias, an election security consultant for CISA, likened the swarm of records request to a denial-of-service cyber-attack, in which hackers attempt to overwhelm a network with internet traffic, and said it was creating potential security risks given the stresses already weighing on election workers.""We have the attrition rate; we have people who are under threat from the community, people who are getting death threats, people who are overworked,"" Macias said at a gathering of state election directors in Wisconsin on July 19.SECURITY RISKSAll 50 U.S. states have freedom-of-information laws that are used routinely by journalists, advocates, academics and everyday citizens to access records on government. Such statutes aim to ensure the public has the information needed to hold their leaders accountable. Local officials told Reuters they believe in the importance of such laws and said they are trying to find creative ways to lessen the burden of the election-related requests on their staffers.Rather than ask for a bigger budget, Haber of Maricopa County said she has trained her whole team to help respond. Washoe County temporarily halts the production of documents at a certain point prior to the election, to ensure staff can focus on administering the vote, Rodriguez said. Donald Palmer, a commissioner on the federal Election Assistance Commission, told a gathering of secretaries of state on July 8 in Baton Rouge that they should help local officials more efficiently respond to the deluge of requests by, for instance, creating a ""reading room"" site to simultaneously respond to duplicative requests from different people.Rodriguez said most of her nine current staffers joined in 2021 or 2022 after a rash of staff departures. She is trying to limit their overtime to keep them fresh for November.But the records requests aren’t letting up. One request sought various information on the county's election workers during the 2022 primary, including their phone number, mailing address and party affiliation. Another one was filed in late June by Robert Beadles, a businessman who moved from California to Reno in 2019 and is now leading a movement to push election-fraud theories and target politicians who don't support his agenda. Beadles requested 38 different data sets.Beadles tells visitors to his website, operationsunlight.com, to send requests to their county clerks for a list of voters in the November 2020 election, broken down by voting method, and the total number of ballots cast for each candidate. He asks them to email the records to Shiva Ayyadurai, a leading purveyor of election fraud conspiracies.Neither Beadles nor Ayyadurai responded to emails seeking comment.As strapped government staffs struggle to keep up with the extensive inquiries, some election officials express concern about slipping up and releasing information that could compromise election security.Samuel Derheimer, director of government affairs at voting-equipment manufacturer Hart InterCivic, said his company has seen an explosion of requests from election officials for help determining when releasing certain records threatens election integrity. Public records requests sometimes target operational manuals containing security protocols that should not be released to the public, he said.Karen Brinson Bell, executive director of the North Carolina State Board of Elections, said one of the challenges is analyzing whether seemingly separate individuals or groups might be working together to piece together sensitive information about voting equipment and processes.""That's when your antenna starts going up,"" she said. ""We are having to spend a lot of extra time thinking in those terms.""Register now for FREE unlimited access to Reuters.comReporting by Nathan Layne; editing by Jason Szep and Brian ThevenotOur Standards: The Thomson Reuters Trust Principles.",Pro-Trump activists swamp election officials with sprawling records requests.
"Pope Francis holds a news conference aboard the papal plane on his flight back after visiting Canada, July 29, 2022. REUTERS/Guglielmo Mangiapane/PoolRegister now for FREE unlimited access to Reuters.comVATICAN CITY, Aug 3 (Reuters) - Pope Francis said on Wednesday he felt the pain of survivors of Canada's residential school system ""like slaps"" and that the Catholic Church has to face up to its responsibility for institutions that abused children and tried to erase indigenous cultures.The pope dedicated his talk at his weekly general audience to his trip last week to Canada, where he delivered a historic apology for the Church's role in the government-sanctioned schools, which operated between 1870 and 1996.More than 150,000 indigenous children were separated from their families and brought to residential schools. Catholic religious orders ran most of them under successive Canadian governments' policy of assimilation.Register now for FREE unlimited access to Reuters.comThe children were beaten for speaking their native languages and many were sexually abused in a system Canada's Truth and Reconciliation Commission called ""cultural genocide.""The pope met indigenous survivors throughout the trip and on the last day, mostly elderly school survivors in Iqaluit, capital of the isolated Arctic territory of Nunavut, told him their stories in a private meeting.""I assure you that in these meetings, especially the last one, I had to feel the pain of these people, like slaps, how they lost (so much), how the elderly lost their children and did not know where they ended up, because of this policy of assimilation,"" Francis said in unscripted comments.""It was a very painful moment but we had to face up, we have to face up before our errors and our sins,"" he said.During the trip, the pope's apologies evoked strong emotions and praise as a first step in reconciliation, but some survivors said they fell short of expectations and that he had not apologised clearly enough for the Church as an institution. read more In an apparent attempt to answer the critics, he said on Wednesday that priests, nuns and lay Catholics had ""participated in programmes that today we understand are unacceptable and contrary to the Gospel. That is why I went to ask forgiveness in the name of the Church"".Some were also heartened when the pope, speaking to reporters on the plane taking him back to Rome on Saturday, branded what happened at the schools as ""genocide."" read more Francis, who is suffering from a knee ailment, walked the some 20 metres (yards) to his seat on the stage of the Vatican's audience hall using a cane and at the end remained standing to greet some participants. He later used a wheelchair when aides moved him among the crowd.He mostly used a wheelchair during the Canada trip, including during his in-flight news conference on the return flight.Register now for FREE unlimited access to Reuters.comReporting by Philip Pullella, Editing by William Maclean and Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.","Hearing pain of Canada school survivors felt like slaps, pope says."
"Players take a knee before a match between Tottenham Hotspur and Leicester City on May 1, 2022.Visionhaus | Getty Images Sport | Getty ImagesPremier League players will no longer routinely take a knee before matches, the league has announced ahead of the new season.Players began taking the knee during Project Restart, in the wake of George Floyd's unlawful killing in the USA and the Black Lives Matter movement which followed.Aston Villa's televised game with Sheffield United started off the top flight's stance, which has since been replicated across the domestic leagues and beyond - and caused friction with the UK Government when England players were booed while making the stance ahead of Euro 2020 last summer.More recently, a number of individual clubs and players have announced they will stop taking a knee and now, the Premier League have followed suit more than two years since the initiative was first introduced.Players will still take a knee before certain rounds of matches, including the FA Cup and Carabao Cup finals, as well as Boxing Day matches and the Premier League's No Room For Racism rounds.Read more stories from Sky SportsIn a statement, the Premier League said: ""Ahead of the new season, Premier League club captains have reaffirmed their commitment to fighting racism and all forms of discrimination.""The players have decided to use specific moments during the upcoming campaign to take the knee, to amplify the message that racism has no place in football or society.""The Premier League supports the players' decision and, alongside the clubs, will use these opportunities to elevate anti-racism messaging as part of the League's No Room for Racism Action Plan.""Speaking as a collective, the 20 Premier League captains added that they would use ""significant moments"" of the forthcoming season to take the knee.""We remain resolutely committed to eradicate racial prejudice, and to bring about an inclusive society with respect and equal opportunities for all,"" they added.The Premier League has also announced that £238,000 will be donated to a number of youth clubs on behalf of the club captains, with £119,000 coming from the royalties of the 'No Room for Racism' sleeve badges sold on club shirts in 2021/22, and the figure matched by the Premier League.PFA chief: Decision about 'finding a balance'Maheta Molango, the first BAME chief executive of the Professional Footballers' Association, said Premier League captains had reached their decision with the aim of finding a ""balance"" about how to show their support.He said: ""We've always been clear that choosing whether to take the knee should be a personal decision for each individual.""We've spoken to players about this and what we've heard is that they want to find a balance. They don't want the gesture of taking the knee to become routine, so that it potentially loses its impact.""However, they are also committed to using their platform and their voice to continue to bring attention to what remains an extremely important issue, not just in England but around the world.""","Premier League players will limit taking a knee before matches, league announces ahead of new season."
"Crime August 3, 2022 / 6:17 AM / CBS/AP This combination of undated photos provided by the United States District Court District of Hawaii shows Walter Glenn Primose, left, also known as Bobby Edward Fort, and his wife Gwynn Darle Morrison, also known as Julie Lyn Montague, purportedly in KGB, the former Russian spy agency, uniforms.  / AP The wife of a U.S. defense contractor, who together are charged in Hawaii federal court with fraudulently cloaking themselves in the stolen identities of two deceased Texas infants for three decades, said Tuesday that she's not the person prosecutors say she is. When the case of Gwynn Darle Morrison was called in U.S. District Court in Honolulu, she said: ""That's what they're calling me.""She claims she's actually Julie Lyn Montague, who prosecutors said died in 1968 when she was three weeks old and later had her identity stolen.The assertion put her at odds with her husband, who has acknowledged he's Walter Glenn Primrose and not Bobby Edward Fort, the identity he allegedly used to enlist in the U.S. Coast Guard in 1994 and gain secret security clearance that allowed him to work as a defense contractor. Fort was about 10 weeks old when he died in late 1967 at the same Burnet, Texas, hospital where Montague died a few months later.Not guilty pleas were entered Tuesday on behalf of the couple to charges of conspiracy, false statement in a passport application and aggravated identity theft. They face up to 17 years in prison if convicted of all charges. Both were ordered detained until a trial was scheduled Sept. 26. Trial date set for Hawaii couple accused of acting as Russian spies https://t.co/RzARhU1rN0 #HNN— Hawaii News Now (@HawaiiNewsNow) August 2, 2022 The dispute over the real name of the wife added a new layer of intrigue to a case that may amount to more than stolen identities.A search of the couple's Hawaii home turned up photos that appear to be shot in the 1980s of the two wearing uniforms of the Russian KGB, the former spy agency, prosecutors said. Investigators also found an invisible ink kit, documents with coded language and maps showing military bases.When the couple were left in a room together, they were unwittingly recorded saying ""things consistent with espionage,"" Assistant U.S. Attorney Wayne Myers said last week. Defense lawyer Megan Kau said Montague is the only name her client has ever used. Kau said the couple appeared to wear the same KGB jacket in the photos and her client was only in a T-shirt. Kau said she hasn't heard the recording of a discussion allegedly involving espionage.""All my client remembers is that her husband told her, 'They think we're spies,'"" Kau said. ""So, yes, the word spy was brought up because the government is accusing them of being spies.""Kau argued that her client had no criminal record and there was not enough reason to keep her locked up while facing trial.Assistant U.S. Attorney Thomas Muehleck said it was ""a little strange"" she maintains she's Montague rather than choosing to not address the identity issue.The father and sister of Montague last week told The Associated Press last week that Julie died shortly after birth and was buried in a cemetery.Morrison and Primrose - both born more than a decade before Fort and Montague - went to high school and college together and married in 1980 and bought a house in Nacogdoches, Texas, prosecutors said.They left Texas in the early 1980s, telling at least one family member they were going into the witness protection program, prosecutors said. They resurfaced later as Fort and Montague, telling some people they had changed their identities for financial and legal reasons. According to a criminal complaint obtained by Hawaii News Now, Primrose was allegedly issued a total of five U.S. passports under the identity of Bobby Fort. Morrison was issued a total of three U.S. passports under the name of Julie Montague, the complaint says.  An unnamed sister of Morrison said the photo on the Hawaii driver's license with Montague's name appeared to be her sister though it listed the wrong birth date, Muehleck said.""We have a situation here where this defendant and her co-defendant, of course, have used false identities to deceive Social Security, the Department of Defense, Hawaii Department of Transportation, the State Department national passport center for 30 years,"" Muehleck said. ""There's no verification of who she says she is.""U.S. Magistrate Judge Rom Trader said he was holding her without bail because he couldn't trust her to comply with terms and conditions of release if he wasn't sure of her identity.""At the core of this case, is some serious, albeit unusual, circumstances where the defendant claims to be an individual other than the person named in the indictment,"" Trader said. ""I can't even really say that I have confidence in who Miss Morrison or Miss Montague really, truly is.""Retired FBI agent Tom Simon told Hawaii News Now the government had likely been tracking the couple for some time and he expects additional evidence will be revealed as the case moves forward.""The FBI counter-intelligence agents are very smart and very thorough,"" he told the station. ""They're not going to make a case with this impact based on someone playing dress-up at a party."" In: Fraud Hawaii Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Woman accused of possible KGB ties claims stolen identity of dead baby is her real name.
"U.S. House of Representatives Speaker Nancy Pelosi waves with other members of the delegation as they board a plane before leaving Taipei Songshan Airport, in Taipei, Taiwan August 3, 2022, in this screengrab taken from video. REUTERS TV/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - The Kremlin said on Wednesday that the level of tension provoked by U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan ""should not be underestimated"".Responding to a question about whether the world was closer to war, Kremlin spokesman Dmitry Peskov told reporters that he was not in favour of using that word but reiterated that the visit was a ""provocation"".He added that no additional contacts between President Vladimir Putin and Chinese leader Xi Jinping were planned in light of the visit.Pelosi's arrival on Tuesday in Taiwan prompted a furious response from Beijing at a time when international tensions were already elevated by the conflict in Ukraine. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",Kremlin: Tension over Pelosi's Taiwan visit 'should not be underestimated'.
"Trains carrying grains can be seen entering the grain terminal in Constanta harbour, in Constanta, Romania, August 1, 2022. Inquam Photos/George Calin via REUTERSRegister now for FREE unlimited access to Reuters.comCONSTANTA, Romania, Aug 3 (Reuters) - At the Romanian Black Sea port of Constanta dockers have worked for months to ship out Ukrainian grain in addition to their usual loads from Romania and its land-locked neighbours.Shipments arrive constantly. The grain, which is poured onto conveyor belts in Constanta terminals, makes the air smell sweet and covers workers seeking shade under the steel silos in a fine layer of golden dust.The export route is one of the few left open to Ukraine, which before the conflict with Russia was one of the world's top grain suppliers. Exporters have shipped 1.46 million tonnes of Ukrainian grain through Constanta since Russia invaded the country in February and the war halted shipments from Ukraine's own Black Sea ports.Register now for FREE unlimited access to Reuters.comThe first grain-carrying ship to leave the Ukrainian port of Odesa since the war began under a safe passage agreement sailed on Monday. Operators in Romania expect they will continue to ship Ukrainian grain as it will take time to fully implement that deal. read more The grain arrives by road, rail or barge from Ukraine's Danube river ports of Reni and Izmail.The safe passage deal has been seen as a glimmer of hope in a worsening global food crisis. Turkey, which brokered the deal together with the United Nations, expects roughly one grain ship to leave Ukrainian ports each day as long as the agreement holds. read more Romanian port operator Comvex (CMVX.BX) said it will fill two ships later this week -- one carrying 30,500 tonnes of Ukrainian and Romanian corn headed to Libya and the second 45,000 tonnes of Ukrainian corn to Iran.""It all depends on how the Istanbul agreement works out and on the quantities that Ukrainian ports can ship out,"" Comvex manager Viorel Panait told Reuters.""With all our hearts we wish they can restore their chain flows. But we are here, ready to help.""Comvex has invested 4 million euros ($4.09 million) in a second barge offloading platform which became operational at the end of July, and boosted its total processing capacity to 84,000 tonnes in and 70,000 tonnes out per day.Last year, Constanta's port shipped a record high 25.2 million tonnes of grain from Romania and landlocked neighbours Serbia, Hungary, Moldova and Austria.Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk, to help make way for the new crop.BOTTLENECKSAs of end-June, Comvex had handled roughly 70% of Ukrainian grains and other goods to come through Constanta, including almost 800,000 tonnes of iron ore. It plans to invest 60 million euros this year and next to boost operations, Panait said.Transport from Ukraine has been hampered by rail infrastructure problems and low water levels on the Danube after weeks of high temperatures and drought, meaning barges cannot carry full loads.Port authorities said 183,581 tonnes of grains were currently en route to Constanta, which will also continue to export other Ukrainian goods not covered by the safe passage agreement, including steel products, iron ore and pipes.The Constanta Port Business Association, which Panait also runs, said the ten port operators who handle Ukrainian goods in addition to their regular customers will need 340 million euros worth of investment in equipment to boost processing speed.They have asked for European Union funds and government loan guarantees. In July, the Romanian government told Reuters it was mulling a pilot programme to acquire equipment ""to increase operating speed in grain terminals."" It is also working on rehabilitating 35 port rail lines and removing hundreds of rusty wagons blocking the tracks.Register now for FREE unlimited access to Reuters.comReporting by Luiza Ilie; Editing by Krisztina Than and Alexandra HudsonOur Standards: The Thomson Reuters Trust Principles.Luiza IlieThomson ReutersBucharest-based general news reporter covering a wide range of Romanian topics from elections and economics to climate change and festivals.","Romanian Black Sea port to keep shipping Ukrainian grain, seeks EU funding."
"People walk past displays showing flight information at the arrival hall of Taipei Songshan Airport, before the expected departure of U.S. House of Representatives Speaker Nancy Pelosi, in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Boeing Co (BA.N) faced added uncertainty over crucial plane deliveries to China on Wednesday as a visit to Taipei by U.S. House of Representatives Speaker Nancy Pelosi angered Beijing and risked stoking Sino-U.S. trade tensions.With the highest-level U.S. visit to Taiwan in 25 years pushing rhetoric to new levels, experts cautioned it was too early to say exactly how the row will play out for Boeing, which historically relies on China for a quarter of jetliner sales.But the visit will do nothing to ease near-term industrial and political gridlock for the planemaker whose CEO said last week 737 MAX deliveries to China remained blocked by COVID-19 and a ""geopolitical overhang"", in a reference to simmering trade tensions between the world's two biggest economies.Register now for FREE unlimited access to Reuters.com""Quite apart from Pelosi's Taiwan visit, Boeing already faces a tough environment in China,"" said Greg Waldron, Asia managing editor of industry publication FlightGlobal.""For years it has lagged Airbus in both deliveries and orders on the mainland, and the 737 MAX has yet to resume flying for Chinese airlines,” more than six months after it received regulatory approval there following a safety crisis, he added.Boeing shares fell 3.4% on Tuesday compared to the 0.7% drop of the S&P 500 index (.SPX).In the meantime, both Boeing and European rival Airbus (AIR.PA) must juggle a rapidly changing diplomatic backdrop with a pressing quandary over Taiwan itself, as Pelosi's trip falls in the midst of a separate contest for a multi-billion-dollar plane deal.The president of Taiwan's government-backed China Airlines (2610.TW) told Reuters last week it is ""actively"" looking at options to renew a fleet of 22 Airbus A330 jets in a competition widely expected to pit the upgraded A330neo against Boeing's 787. read more 'DELICATE SITUATION'While a deal with Taiwan's biggest carrier would be a boon to Boeing as it nears the resumption of 787 deliveries after manufacturing flaws, sources said it could risk upsetting authorities in China, a much larger market. read more That means Boeing is seen as unlikely to use Pelosi's trip, which has not been formally authorised by the White House, to lobby actively for a 787 deal. ""It's a really delicate situation these days,"" a person familiar with the process said.Airbus might appear to be better placed than Boeing in the evolving China-Taiwan situation, having won a major order from China just a month ago. But it is also looking for approval for its small A220 jet in China and must mind its strategic presence there. read more Both companies tend to keep a discreet distance between Taiwan negotiations and their much larger business with China, but Pelosi's visit adds a potentially unwelcome spotlight.""Nobody is going to want to be too visible on Taiwan right now,"" one industry source said, asking not to be named.U.S. President Joe Biden cast doubt last month on the wisdom of the trip in a rare break with close ally Pelosi, though the White House said on Monday she had the right to visit Taiwan.It is not the first time geopolitics have threatened to disrupt big-ticket jet deals or curb deliveries to China.Once an emblem of detente as President Richard Nixon flew to Beijing on a 707 in 1972, Boeing later complained via former Chief Executive Phil Condit that it had become ""the designated hostage"" in U.S.-China ties, according to the New York Times.Airbus too has been left out in the cold by past friction over French arms sales to Taiwan or other disputes, but analysts say Beijing has historically sought to balance jet purchases between its major Western trade rivals over the long term.In the short term, buying patterns are harder to predict.""Another headwind is reduced air traffic - both domestic and international - in China owing to the zero-COVID policy,” Waldron of FlightGlobal said. “This hurts demand for new aircraft and also the demand for support services.""Register now for FREE unlimited access to Reuters.comReporting by Jamie Freed in SYDNEY, Norihiko Shirouzu in BEIJING and Tim Hepher in PARIS; Writing by Tim Hepher and Jamie Freed; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",Analysis: Pelosi's Taiwan visit clouds Boeing's China reset hopes.
"People wait to visit a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020.Wany Ying | Xinhua News Agency | Getty ImagesMortgage applications inched up last week for the first time since June 24. Total mortgage demand increased 1.2% as the average 30-year fixed mortgage rate made the largest weekly drop since 2020.Applications to refinance a home rose 2%, according to the Mortgage Bankers Association, but the annual drop was still huge, down 82% since last year.Applications to purchase a home increased 1% and were down 16% from one year ago.The slight increases came as mortgage rates dropped 0.31 percentage point from 5.74% to 5.43% following the Federal Reserve announcement of its latest rate hike and the GDP report, which showed the U.S. economy contracted for the second straight quarter.""Mortgage rates declined last week following another announcement of tighter monetary policy from the Federal Reserve, with the likelihood of more rate hikes to come. Treasury yields dropped as a result, as investors continue to expect a weaker macroeconomic environment in the coming months,"" said Joel Kan, MBA's associate vice president of economic and industry forecasting.  Kan added that there are some signs of optimism in the housing market. ""Lower mortgage rates, combined with signs of more inventory coming to the market, could lead to a rebound in purchase activity,"" he said.The National Association of Home Builders also sees some signs of improvement. According to the NAHB's Housing Trends Report, after declining for five straight quarters, the share of buyers seeing more homes available for sale rose to 28% in Q2.NAHB's expectations of housing availability also improved. For the first time since 2020, the share of prospective buyers who expect the home search to get easier in the months ahead rose, increasing to 22%. Housing availability expectations rose in all regions except the Midwest. In the West, it rose; in the Northeast, the share climbed; in the South, it was up; and in the Midwest, it was down.",Mortgage applications inch up for the first time in five weeks.
"Model of natural gas pipeline and France flag, July 18, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comPARIS, Aug 3 (Reuters) - France will have filled out 100 percent of its strategic gas reserves by November 1, government energy transition minister Agnes Pannier-Runacher told C News TV, as European countries prepare for fewer energy supplies coming through from Russia.Brussels is urging European Union member states to save gas and store it for winter, fearing Russia will completely cut off flows in retaliation for sanctions over Russia's invasion of Ukraine.Last month, European Union countries -- bracing for further cuts in Russian gas supply -- approved a weakened emergency plan to curb demand, after striking compromise deals to limit reductions for some countries. read more Energy ministers agreed that all EU countries should voluntarily cut gas use by 15% from August to March, compared with their average annual use during 2017-2021.Register now for FREE unlimited access to Reuters.comReporting by Nicolas Delame and Myriam Rivet;
Editing by Sudip Kar-GuptaOur Standards: The Thomson Reuters Trust Principles.",France will have filled up its strategic gas reserves by start of November -minister.
"Register now for FREE unlimited access to Reuters.comSummaryGrain-carrying ship from Ukraine inspected in TurkeyShipment is first of kind to leave Ukraine in wartimeBut Ukrainian leader says much more is neededKyiv urgently needs to ship 10 mln tonnes to cut deficitKYIV/ISTANBUL, Aug 3 (Reuters) - Ukrainian President Volodymr Zelenskiy dismissed the importance of the first grain export shipment from his country since Russia invaded, saying it was carrying a fraction of the crop Kyiv must sell to help salvage its shattered economy.His downbeat comments, via video to students in Australia on Wednesday, came as an inspection of the ship was completed in Turkey before it continues to its final destination in Lebanon under a deal aimed at easing a global food crisis. read more The ship, Razoni, departed from Ukraine's Odesa port on the Black Sea early on Monday carrying 26,527 tonnes of corn to Lebanon's Tripoli. It followed a U.N.-brokered grain and fertiliser export agreement between Moscow and Kyiv last month - a rare diplomatic breakthrough in a drawn-out war of attrition.Register now for FREE unlimited access to Reuters.comBut Zelenskiy, speaking via an interpreter, said more time was needed to see whether other grain shipments would follow.""Just recently, thanks to the UN in partnership with Turkey, we had a first ship with the delivery of grain, but it’s still nothing. But we hope it’s a tendency that will continue,” he told the students.He said Ukraine had to export a minimum 10 million tonnes of grain to urgently help bring down its budget deficit which was running at $5 billion a month.A senior Turkish official said three ships could leave Ukrainian ports daily after the Razoni's departure, while Ukraine's infrastructure minister said 17 more ships had been loaded with agricultural produce and were waiting to set sail.Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now underway, initially from Odesa and nearby Pivdennyi and Chornomorsk.""The war...is almost killing the economy. It's in a coma,"" Zelenskiy added. ""Russia's blocking of the ports is a great loss for the economy.Zelenskiy has repeatedly warned that Moscow may try to obstruct exports despite signing up to last month's deal.'DONBAS HELL'Russia, which blockaded Ukraine's ports after beginning on Feb. 24 what it called ""a special military operation"", has said it wants to see more done to facilitate the exports of its own grain and fertilisers. But it has hailed the departure of the first grain ship from Ukraine as positive.The Sierra Leone-flagged cargo ship Razoni, carrying Ukrainian grain, is seen in the Black Sea off Kilyos, near Istanbul, Turkey August 2, 2022. REUTERS/Yoruk IsikIt has denied responsibility for the food crisis, saying sanctions by the West, which regards the war as an unprovoked imperial-style Russian land grab, have slowed its exports.The exports from Ukraine, one of the world's top grain producers, are intended to ease price rises and shortages, with famine looming in some parts of the world.Former German chancellor Gerhard Schroeder, a friend of Russian President Vladimir Putin, said the grain deal might offer a way forward out of conflict.""The good news is that the Kremlin wants a negotiated solution,"" Schroeder told Stern weekly and broadcasters RTL/ntv on Wednesday, adding he had met Putin in Moscow last week.""A first success is the grain deal, perhaps that can be slowly expanded to a ceasefire."" read more Ukraine's General Staff on Wednesday catalogued continued heavy Russian shelling of Kharkiv and other towns and villages in its vicinity, as well as air and missile strikes on civilian objects. Moscow denies deliberately targeting civilians, something which it accuses Kyiv of doing.Russia's defence ministry said its missiles had destroyed a depot containing weapons supplied by Poland in Ukraine's Lviv region.Reuters was not able to verify battlefield reports.Zelenskiy, in a late night address on Tuesday, said that his forces could not yet overcome Russian advantages in heavy guns and manpower despite arms supplies from the West.""This is very much felt in combat, especially in the Donbas ... It is just hell there. Words cannot describe it,"" he said.Russia is battling to take full control of Donbas, the heavily industrialised part of eastern Ukraine.It said on Tuesday at the United Nations that the conflict did not warrant Moscow's use of nuclear weapons, but that it could decide to use its nuclear arsenal in response to ""direct aggression"" by countries of the NATO military alliance. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Andrew Osborn; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.","Ukraine's Zelenskiy says first grain ship 'nothing', economy in coma."
"Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comKABUL, Aug 3 (Reuters) - Top leaders of Afghanistan's Taliban were holding discussions on Wednesday about how to respond to a U.S. drone strike in Kabul that the United States said killed al Qaeda leader Ayman al-Zawahiri, three sources in the group said.The United States killed Zawahiri with a missile fired from a drone while he stood on a balcony at his Kabul hideout on Sunday, U.S. officials said, the biggest blow to the militants since Osama bin Laden was shot dead more than a decade ago. read more The Taliban have not confirmed Zawahiri's death.Register now for FREE unlimited access to Reuters.comOfficials of the Islamist group, long-time allies of al Qaeda, initially confirmed the Sunday drone strike but said the house that was hit was empty.""There are meetings at a very high level on whether they should react to the drone strike, and in case they decide to, then what is the proper way,"" a Taliban leader who holds an important position in Kabul told Reuters.The official, who said there had been lengthy leadership discussions for two days, declined to be identified. He did not confirm that Zawahiri was in the house that the missile struck.How the Taliban react could have significant repercussions as the group seeks international legitimacy, and access to billions of dollars in frozen funds, following their defeat of a U.S.-backed government a year ago.Zawahiri, an Egyptian doctor, was closely involved in the Sept. 11, 2001, attacks on the United States and was one of the world's most wanted men.His death in Kabul raises questions about whether he received sanctuary from the Taliban, who had assured the United States as part of a 2020 agreement on the withdrawal of U.S.-led forces that they would not harbour other militant groups.U.S. Secretary of State Antony Blinken said the Taliban had ""grossly violated"" the agreement by hosting and sheltering Zawahiri.Outside a tight circle of top Taliban leaders, group members appeared in the dark about whether Zawahiri was actually in Kabul, let alone his fate.Another Taliban official confirmed the high-level meetings but said he did not know what was being discussed and he did not believe Zawahiri was in the house.Suhail Shaheen, the designated Taliban representative to the United Nations, who is based in Doha, told journalists he had received no word on the Taliban position.""I am awaiting details and reaction from Kabul,"" he told reporters in a message.Register now for FREE unlimited access to Reuters.comReporting Jibran Ahmad in Peshawar and Mohammad Yunus Yawar in Kabul; Writing by Gibran Peshimam; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Tight-lipped Taliban leaders gather after U.S. says Zawahiri killed.
"Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comLONDON, Aug 3 (Reuters) - The European Union's securities watchdog has begun preparations for increased scrutiny of crypto transactions after the bloc agreed groundbreaking rules to regulate what it called a ""Wild West"" sector, a public tender document showed.While cryptoasset firms will be licensed by national regulators in the 27-country bloc, the European Securities and Markets Authority (ESMA) will monitor the bigger players. read more ESMA put out a public procurement request on Tuesday to suppliers of trading data on crypto transactions, including spot trades and derivatives.Register now for FREE unlimited access to Reuters.comIt excludes transactions from blockchain or the distributed ledger technology which underpins cryptocurrencies like bitcoin.""The coverage should encompass all major exchanges and crypto assets so that it provides a fair representation of the crypto market landscape,"" ESMA said in its notice.Regulators use transactions data to spot abuses in markets, find out who is on each side of a transaction, and look for risky build ups of positions which could undermine orderly markets.""Data should be available with daily frequency and include access to order books where to see spreads and liquidity across exchanges and trading pairs (in fiat and crypto),"" it said.The contract is worth a maximum of 100,000 euros.Register now for FREE unlimited access to Reuters.comReporting by Huw Jones; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",EU securities watchdog to arm itself with crypto data.
"The plane carrying U.S. House of Representatives Speaker Nancy Pelosi takes off from Taipei Songshan Airport in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi left Taiwan on Wednesday after pledging solidarity and hailing its democracy, leaving a trail of Chinese anger over her brief visit to the self-ruled island that Beijing claims as its own.Pelosi, whose delegation made an unannounced but closely watched stop in Taiwan late on Tuesday after visits to Singapore and Malaysia, was scheduled to continue her Asian tour with stops in South Korea and Japan.Her plane took off from an airport in the capital Taipei at around 6 p.m.(1000 GMT) local time.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu and Yimou Lee
Writing by Tony Munroe
Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.","Pelosi departs Taiwan, capping visit that infuriated China."
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesPelosi tells President Tsai ""we will not abandon Taiwan""China steps up military activity around TaiwanTaiwan's military increases alertness levelBlinken discussed Pelosi visit with China's Wang Yi last monthChina summoned U.S. ambassador in BeijingTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi left Taiwan on Wednesday after pledging solidarity and hailing its democracy, leaving a trail of Chinese anger over her brief visit to the self-ruled island that Beijing claims as its own.China demonstrated its outrage over the highest-level U.S. visit to the island in 25 years with a burst of military activity in surrounding waters, summoning the U.S. ambassador in Beijing and halting several agricultural imports from Taiwan.Some of China's planned military exercises were to take place within Taiwan's 12 nautical mile sea and air territory, according to Taiwan's defence ministry, an unprecedented move a senior defence official described to reporters as ""amounting to a sea and air blockade of Taiwan"".Register now for FREE unlimited access to Reuters.comPelosi arrived with a congressional delegation on her unannounced but closely watched visit late on Tuesday, defying China's repeated warnings, in what she said shows unwavering U.S. commitment to Taiwan's democracy.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,” Pelosi told Taiwan President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China. read more “Now, more than ever, America’s solidarity with Taiwan is crucial, and that’s the message we are bringing here, today,"" she said during her roughly 19-hour visit.A long-time China critic, especially on human rights, Pelosi met with a former Tiananmen activist, a Hong Kong bookseller who had been detained by China, and a Taiwanese activist recently released by China.Fury on the mainland over the 82-year-old Democrat's defiance of Beijing was evident all over Chinese social media, with one blogger railing: ""this old she-devil, she actually dares to come!"" read more The last U.S. house speaker to go to Taiwan was Newt Gingrich, in 1997. But Pelosi's visit comes amid sharply deteriorating Sino-U.S. relations, and during the past quarter century China has emerged as a far more powerful economic, military and geopolitical force.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.In retaliation, China's customs department announced a suspension of imports of citrus fruits, chilled white striped hairtail and frozen horse mackerel from Taiwan, while its commerce ministry banned export of natural sand to Taiwan.While there was little sign of protest against U.S. targets or consumer goods, there was a significant police presence outside the U.S. consulate in Shanghai and what appeared to be more security than usual outside the embassy in Beijing.U.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS MILITARY DRILLSShortly after Pelosi's arrival, China's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of the island, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Before Pelosi's arrival, Chinese warplanes buzzed the line dividing the Taiwan Strait. The Chinese military said it was on high alert and would launch ""targeted military operations"" in response to Pelosi's visit.White House national security spokesperson John Kirby said after Pelosi's arrival in Taiwan that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.Kirby said China might engage in ""economic coercion"" toward Taiwan, adding that the impact on U.S.-China relations will depend on Beijing's actions in coming days and weeks.U.S. Secretary of State Antony Blinken discussed the potential for Pelosi's visit with counterpart Wang Yi during a G20 meeting in Bali last month, and said any such trip would be entirely Pelosi's decision and independent of the U.S. government, a senior U.S. official said on Wednesday. read more 'CHINA'S AMBITION'The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Taiwan's military increased its alertness level. Its defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills in the surrounding waters.""The so-called drill areas are falling within the busiest international channels in the Indo-Pacific region,"" a senior Taiwan official familiar with its security planning told Reuters on Wednesday.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" the person said.China's foreign ministry said it has not seen its military drills around Taiwan causing any freedom of navigation issues.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Writing by Tony Munroe; Editing by Simon Cameron-Moore and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Pelosi full of praise, support for Taiwan during visit that infuriated China."
"SummaryNo sign either side giving ground in power struggleTop Iranian commander visits Baghdad amid crisis, sources sayThough tensions are high, sides appear to be avoiding violenceBAGHDAD, Aug 2 (Reuters) - A power struggle in Iraq between the Shi'ite cleric Moqtada al-Sadr and rivals aligned with Iran is testing Tehran's ability to stave off a conflict that could damage its interests and further destabilise the oil-rich country.With Sadr supporters camped out in parliament and his opponents protesting in the streets, the tussle over a new government has put fresh strain on a political system that has been buffeted by crises since U.S.-led forces toppled dictator Saddam Hussein two decades ago.It adds another destabilising factor to a belt of fragile Arab states between Iran and the Mediterranean - Iraq, Syria and Lebanon - all of which fall within Iran's sphere of influence and have suffered major conflict or crisis over the last decade, including the battle with Islamic State.Register now for FREE unlimited access to Reuters.comFor Iraq, where the power balance tilted Iran's way after the U.S. invasion of 2003, the tussle adds to divisions in a country also beset by rivalries among Sunni Arab and Kurdish groups who control the north.So far, neither side seems ready to give ground in the 10-month-old standoff, which began when Sadr emerged victorious from an October election and sought to form a government on his terms, only to be stymied by his foes. read more For now, the sides - both heavily armed - appear to be avoiding violence, aware of the impact this would have on Iraq and the Shi'ite majority that was empowered by the political system the United States built after ousting Saddam, a Sunni.But amid dramatic scenes in Baghdad, where Sadr supporters overran the fortified Green Zone that houses state buildings and embassies at the weekend, many Iraqis are concerned about possible violence. read more In a sign of Iran's concern, one of its senior military commanders, Brigadier General Esmail Ghaani, visited Baghdad in recent days in an effort to keep tensions from escalating, a Western diplomat said.An Iraqi official in the Coordination Framework, an alliance of Iran-aligned factions, confirmed the visit but said Ghaani didn't appear to have succeeded, without giving details.Iran's embassy in Baghdad didn't respond to a request for comment.Ghaani, who heads Iran’s Revolutionary Guards' foreign legions, has struggled to wield the influence of his predecessor, Qassem Soleimani, killed by a U.S. attack in 2020.""Iranian influence has had its ups and downs and has been waning to some extent,"" said Renad Mansour of Chatham House, a think tank. ""This election and government formation process has exposed fragmentation ... among the political parties which makes it very complicated for Iran.""The crisis comes at a difficult moment for Iran elsewhere. The heavily armed Hezbollah and its allies lost a parliamentary majority in Lebanon in a May, though they still have big sway.""NO REVOLUTIONARY""Sadr, heir to a prominent clerical dynasty who fought U.S. forces after the invasion, has long opposed foreign influence. read more He raised the stakes in June when he instructed his lawmakers to quit parliament, ceding dozens of seats to the Iran-aligned factions. Their subsequent moves towards forming a government without Sadr prompted the parliament takeover.Sadr's recent call for unspecified changes to the constitution may indicate he wants to upend the entire system.But some analysts question how much he really wants to change a system that has served him well: Sadr dominates much of the state which employs many of his followers.""Sadr is no revolutionary. He wants the system to go on but with him in a more dominant position,"" said Toby Dodge, a London School of Economics professor.Dodge described the standoff as ""a squabble within an increasingly unpopular elite"" in a country where poor governance and corruption has inflicted power and water cuts, poverty and unemployment on Iraqis, despite enormous oil wealth.Those same conditions fuelled mass protests across Baghdad and southern Iraq in 2019 in which security forces killed hundreds of protesters.""There could be miscalculations and mistakes. But it seems to me that in every stage in this process, either one side or the other has taken steps to avoid violence,"" Dodge said.A GAME CHANGER?The United States maintains around 2,000 troops in Iraq to fight Islamic State remnants, far fewer than the 170,000 U.S. troops there at the height of the occupation.Once involved in backroom dealings over Iraqi government formations, U.S. officials have largely stayed out of such contacts in recent years, according to Iraqi officials.Vali Nasr, a Middle East expert at the Johns Hopkins School of Advanced International Studies in Washington, said Iraq did not appear to be a big U.S. priority.""It (Iraq) was not treated as a game-changer for the region, which it could end up being if Iraq loses the modicum of stability it had,"" he said.""It is too soon to call this a loss for Iran, it may end up being a loss for everybody, and then the question becomes who picks up the pieces afterwards,"" he said.A U.S. State Department official said Iraq remained a foreign policy priority for the United States and one of the United States' most important strategic partners in the region, calling it a ""cornerstone of regional stability"".""The United States respects Iraqi sovereignty and views government formation as an Iraqi issue and something that the leaders in Iraq need to resolve,"" the official added.Hamdi Malik of the Washington Institute think tank noted signs of restraint by both sides, but said conflict was a risk.""Any civil war between Shi'ite groups will have a profound impact not only on ... people in Iraq, but the wider region and even other parts of the world, not least because of the possible disruption in oil supplies, as much of Iraq's oil wealth is located in predominantly Shi'ite parts of the country,"" he said.Register now for FREE unlimited access to Reuters.comAdditional reporting by Humeyra Pamuk in Washington; Editing by Samia Nakhoul, William Maclean and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.",Analysis: Crisis in Iraq tests its stability and Iran's sway.
"Register now for FREE unlimited access to Reuters.comBERLIN, Aug 3 (Reuters) - BMW (BMWG.DE) lowered its output forecast and warned of a highly volatile second half on Wednesday, pinpointing supplies of energy in Europe and chips worldwide as the two crucial factors to the carmaker hitting full-year earnings targets.New incoming orders were beginning to fall but order books remained filled for the next few months, chief executive Oliver Zipse said.Demand for electric models was particularly high, finance chief Nicolas Peter added. The premium carmaker was on track to meet its goal of doubling all-electric car sales by year end and expected total sales growth of 5% to 10% in the second half boosted by strong Asian markets, he said.Register now for FREE unlimited access to Reuters.comStill, BMW expects year-end deliveries to fall short of last year's record highs of 2.52 million.Tightening sanctions on Russia, interruption of gas supply or the possibility of the war in Ukraine spreading were not factored into its forecast.""The crucial factor will be how the supply situation develops – not just for semiconductors, but also energy supplies in Europe,"" Zipse said.BMW shares were down 4.9% at 0931 GMT.Daniel Schwarz, analyst at Stifel, called its outlook ""rather disappointing"" while Berstein Research noted how BMW became the first carmaker to signal caution about demand.ENERGY EMERGENCY PLANSA BMW iX Flow with color-shifting material is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 6, 2022. REUTERS/Steve MarcusGermany and other European Union members have adopted emergency plans to curb gas use amid fears that Russia could further cut or stop supplying gas to Europe in response to Western sanctions over its invasion of Ukraine. read more BMW consumes around 3,500 gigawatt hours of energy annually in Germany and Austria, three-quarters of which comes from natural gas.The carmaker could replace the around 500 gigawatt hours of electricity produced per year from gas-powered combined heat and power plants by buying electricity from elsewhere, Zipse said. Replacing gas used in manufacturing processes would be more complex.""Partial compensation is possible... even if it works, it will certainly be expensive. There is no way we will be able to maintain the costs per kilowatt hour,"" he added.A survey by Germany's Ifo institute on Wednesday showed German carmakers' business situation beginning to deteriorate in July, with order backlogs shrinking and price expectations plummeting.BMW struck a more negative note than competitor Mercedes-Benz (MBGn.DE), which last week raised its earnings outlook for the year after profits and revenues grew in the second quarter despite falling unit sales. read more The Munich-based carmaker's earnings fell 31% in the second quarter to 3.4 billion euros ($3.46 billion) despite growing revenues, still beating a 3.13 billion euro forecast in a Refinitiv poll of eight analysts.The consolidation of its China joint venture BMW Brilliance Automotive pushed up revenues in the first half but dampened second quarter earnings, BMW said, reporting an automotive margin of 8.2%, down from last year's 15.8%. read more Overall, the reevaluation of the Chinese joint venture shares boosted earnings before tax by 7.7 billion euros in the first half.($1 = 0.9825 euros)Register now for FREE unlimited access to Reuters.comReporting by Victoria Waldersee, additional reporting by Maria Sheahan;
Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",BMW sees volatile 2022 with chips and energy squeeze in focus.
"People walk by a CVS Pharmacy store in the Manhattan borough of New York City.Shannon Stapleton | ReutersCVS Health on Wednesday lifted its earnings outlook for the year, after beating Wall Street's expectations for the fiscal second quarter.The health-care company said it now expects adjusted earnings per share for the full year to come in between $8.40 and $8.60, compared with its earlier estimate of between $8.20 and $8.40.Shares rose about 2% in premarket trading.Here's what the company reported for the three-month period ended June 30, compared with what analysts were expecting, based on a survey of analysts by Refinitiv:Earnings per share: $2.40 adjusted vs. $2.17 expectedRevenue: $80.64 billion vs. $76.37 billion expectedOn an unadjusted basis, CVS reported net income of $2.95 billion, or $2.23 per share, higher than the $2.78 billion, or $2.10 per share, a year earlier. Revenue of $80.64 billion likewise marked a year-over-year increase, up from $72.62 billion in the same period in 2021. Shares of CVS closed on Tuesday at $95.37. The company's shares have fallen about 8% so far this year. This is a developing story. Please check back for updates.",CVS Health raises full-year forecast after beating second-quarter expectations.
"Health August 3, 2022 / 5:00 AM / Kaiser Health News High temperatures cause heat death concern Record temperatures spark concern over extreme heat deaths 04:25 With more record-breaking temperatures in the forecast for parts of the country, public health experts are cautioning that children are more susceptible to heat illness than adults are — even more so when they're on the athletic field, living without air conditioning, or waiting in a parked car.Cases of heat-related illness are rising with average air temperatures, and experts say almost half of those getting sick are children. The reason is twofold: Children's bodies have more trouble regulating temperature than those of adults, and they rely on adults to help protect them from overheating.Parents, coaches, and other caretakers, who can experience the same heat very differently than kids do, may struggle to identify a dangerous situation or catch the early symptoms of heat-related illness in children. ""Children are not little adults,"" said Dr. Aaron Bernstein, a pediatric hospitalist at Boston Children's Hospital. Jan Null, a meteorologist in California, recalled being surprised at the effect of heat in a car. It was 86 degrees on a July afternoon more than two decades ago when an infant in San Jose was forgotten in a parked car and died of heatstroke. Null said a reporter asked him after the death, ""How hot could it have gotten in that car?""Null's research with two emergency doctors at Stanford University eventually produced a startling answer. Within an hour, the temperature in that car could have exceeded 120 degrees Fahrenheit. Their work revealed that a quick errand can be dangerous for a kid left behind in the car — even for less than 15 minutes, even with the windows cracked, and even on a mild day.As record heat becomes more frequent, posing serious risks even to healthy adults, the number of cases of heat-related illnesses has gone up, including among children. Those most at risk are young children in parked vehicles and adolescents returning to school and participating in sports during the hottest days of the year.More than 9,000 high school athletes are treated for heat-related illnesses every year. Heat-related illnesses occur when exposure to high temperatures and humidity, which can be intensified by physical exertion, overwhelms the body's ability to cool itself. Cases range from mild, like benign heat rashes in infants, to more serious, when the body's core temperature increases. That can lead to life-threatening instances of heatstroke, diagnosed once the body temperature rises above 104 degrees, potentially causing organ failure.Prevention is key. Experts emphasize that drinking plenty of water, avoiding the outdoors during the hot midday and afternoon hours, and taking it slow when adjusting to exercise are the most effective ways to avoid getting sick.Children's bodies take longer to increase sweat production and otherwise acclimatize in a warm environment than adults' do, research shows. Young kids are also more susceptible to dehydration because a larger percentage of their body weight is water.Infants and younger children also have more trouble regulating their body temperature, in part because they often don't recognize when they should drink more water or remove clothing to cool down. A 1995 study showed that young children who spent 30 minutes in a 95-degree room saw their core temperatures rise significantly higher and faster than their mothers' — even though they sweat more than adults do relative to their size.Pediatricians advise caretakers to monitor how much water children consume and encourage them to drink before they ask for it. Thirst indicates the body is already dehydrated. By the time a child says they feel thirsty, their body may already be dehydrated. Getty Images They should also dress kids in light-colored, lightweight clothes; limit outdoor time during the hottest hours; and look for ways to cool down, such as by visiting an air-conditioned place like a library, taking a cool bath, or going for a swim.To address the risks to student athletes, the National Athletic Trainers' Association recommends that high school athletes acclimatize by gradually building their activity over the course of two weeks when returning to their sport for a new season — including by slowly stepping up the amount of any protective equipment they wear. ""You're gradually increasing that intensity over a week to two weeks so your body can get used to the heat,"" said Kathy Dieringer, president of NATA.Warning signs and solutionsExperts note a flushed face, fatigue, muscle cramps, headache, dizziness, vomiting, and a lot of sweating are among the symptoms of heat exhaustion, which can develop into heatstroke if untreated. Call a doctor if symptoms worsen, such as if the child seems disoriented or cannot drink.Taking immediate steps to cool a child experiencing heat exhaustion or heatstroke is critical. The child should be taken to a shaded or cool area; be given cool fluids with salt, like sports drinks; and have any sweaty or heavy garments removed.For adolescents, being submerged in an ice bath is the most effective way to cool the body, while younger children can be wrapped in cold, wet towels or misted with lukewarm water and placed in front of a fan.Although children's deaths in parked cars have been well documented, the tragic incidents continue to occur. According to federal statistics, 23 children died of vehicular heatstroke in 2021. Null, who collects his own data, said 12 children have died so far this year.Caretakers should never leave children alone in a parked car, Null said. Take steps to prevent young children from entering the car themselves and becoming trapped, including locking the car while it's parked at home.More than half of cases of vehicular pediatric heatstroke occur because a caretaker accidentally left a child behind, he said. While in-car technology reminding adults to check their back seats has become more common, only a fraction of vehicles have it, requiring parents to come up with their own methods, like leaving a stuffed animal in the front seat. The good news, Null said, is that simple behavioral changes can protect kids. ""This is preventable in 100% of the cases,"" he said.A lopsided riskPeople living in low-income areas fare worse when temperatures climb. Access to air conditioning, which includes the ability to afford the electricity bill, is a serious health concern.A study of heat in urban areas released last year showed that low-income neighborhoods and communities of color experience much higher temperatures than those of wealthier, white residents. In more impoverished areas during the summer, temperatures can be as much as 7 degrees Fahrenheit warmer.The study's authors said their findings in the United States reflect that ""the legacy of redlining looms large,"" referring to a federal housing policy that refused to insure mortgages in or near predominantly Black neighborhoods.""These areas have less tree canopy, more streets, and higher building densities, meaning that in addition to their other racist outcomes, redlining policies directly codified into law existing disparity in urban land use and reinforced urban design choices that magnify urban heating into the present,"" they concluded.This month, Bernstein, who leads Harvard's Center for Climate, Health, and the Global Environment, co-authored a commentary in JAMA arguing that advancing health equity is critical to action on climate change.The center works with front-line health clinics to help their predominantly low-income patients respond to the health impacts of climate change. Federally backed clinics alone provide care to about 30 million Americans, including many children, he said. Bernstein also recently led a nationwide study that found that from May through September, days with higher temperatures are associated with more visits to children's hospital emergency rooms. Many visits were more directly linked to heat, although the study also pointed to how high temperatures can exacerbate existing health conditions like neurological disorders.""Children are more vulnerable to climate change through how these climate shocks reshape the world in which they grow up,"" Bernstein said.Helping people better understand the health risks of extreme heat and how to protect themselves and their families are among the public health system's major challenges, experts said.The National Weather Service's heat alert system is mainly based on the heat index, a measure of how hot it feels when relative humidity is factored in with air temperature.But the alerts are not related to effects on health, said Kathy Baughman McLeod, director of the Adrienne Arsht-Rockefeller Foundation Resilience Center. By the time temperatures rise to the level that a weather alert is issued, many vulnerable people — like children, pregnant women, and the elderly — may already be experiencing heat exhaustion or heatstroke.The center developed a new heat alert system, which is being tested in Seville, Spain, historically one of the hottest cities in Europe.The system marries metrics like air temperature and humidity with public health data to categorize heat waves and, when they are serious enough, give them names — making it easier for people to understand heat as an environmental threat that requires prevention measures. The categories are determined through a metric known as excess deaths, which compares how many people died on a day with the forecasted temperature versus an average day. That may help health officials understand how severe a heat wave is expected to be and make informed recommendations to the public based on risk factors like age or medical history.The health-based alert system would also allow officials to target caretakers of children and seniors through school systems, preschools, and senior centers, Baughman McLeod said.Giving people better ways to conceptualize heat is critical, she said.""It's not dramatic. It doesn't rip the roof off of your house,"" Baughman McLeod said. ""It's silent and invisible.""KHN (Kaiser Health News) is a national newsroom that produces in-depth journalism about health issues. Together with Policy Analysis and Polling, KHN is one of the three major operating programs at KFF (Kaiser Family Foundation). KFF is an endowed nonprofit organization providing information on health issues to the nation. In: Climate Change Heat Wave Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Extreme heat can be dangerous for kids, experts warn."
"A man looks at a butcher shop window in Ankara, Turkey February 16, 2022. REUTERS/Cagla GurdoganRegister now for FREE unlimited access to Reuters.comISTANBUL, Aug 3 (Reuters) - Turkish inflation rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira's continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts.Inflation began to surge last autumn, when the lira slumped after the central bank gradually cut its policy rate by 500 basis-points to 14% in an easing cycle sought by President Tayyip Erdogan.Month-on-month, consumer prices rose 2.37% in July, the Turkish Statistical Institute said, below a Reuters poll forecast of 2.9%. Annually, consumer price inflation was forecast to be 80.5%.Register now for FREE unlimited access to Reuters.comJason Tuvey, senior emerging markets economist at Capital Economics, said annual inflation may be approaching a peak with energy inflation falling sharply and food inflation appearing close to topping out.""Even if inflation is close to a peak, it will remain close to its current very high rates for several more months,"" Tuvey said in a note.""Sharp and disorderly falls in the lira remain a key risk,"" he said.Reuters Graphics Reuters GraphicsThe biggest annual rise in consumer prices was in the transportation sector, up 119.11%, while food and non-alcoholic drinks prices climbed 94.65%.Inflation this year has been fuelled further by the economic impact of Russia's invasion of Ukraine, as well as the lira's continued decline. The currency weakened 44% against the dollar last year, and is down another 27% this year.The lira was trading flat after the data at 17.9560 against the dollar. It touched a record low of 18.4 in December.Annual inflation is now at the highest level since September 1998, when it reached 80.4% and Turkey was battling to end a decade of chronically high inflation.Last week's Reuters poll showed annual inflation was seen declining to some 70% by end-2022, easing from current levels as base effects from last year's price surge take effect.The domestic producer price index climbed 5.17% month-on-month in July for an annual rise of 144.61%.The government has said inflation will fall as a result of its economic programme, which prioritises low rates to boost production and exports and aims to achieve a current account surplus.Erdogan has said that he expects inflation to come down to ""appropriate"" levels by February-March next year, while the central bank raised its end-2022 forecast to 60.4% last Thursday from 42.8% previously.The bank's inflation report showed the estimated range of inflation reaching nearly 90% this autumn before easing.Opposition lawmakers and economists have questioned the reliability of the Turkish Statistical Institute's (TUIK) figures, claims TUIK has dismissed. Polls show Turks believe inflation is far higher than official data.Register now for FREE unlimited access to Reuters.comReporting by Berna Suleymanoglu, Oben Mumcuoglu;
Writing by Daren Butler;
Editing by Ece Toksabay and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.","Turkish inflation hits almost 80%, peak might be near."
"PayPal app is seen on a smartphone in this illustration taken, July 13, 2021. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comJAKARTA, Aug 3 (Reuters) - U.S. payments firm PayPal (PYPL.O) has registered as an electronic systems operator in Indonesia and its customers can now access its services, the company said on Wednesday.PayPal was one of several websites that Indonesia blocked at the weekend because of their failure to comply with new licensing rules. read more Companies were given a July deadline to register under new rules that would allow authorities to compel platforms to disclose data of certain users and take down content deemed unlawful or that ""disturbs public order"" within four hours if urgent, and 24 hours if not.Register now for FREE unlimited access to Reuters.comJohnny G. Plate, Indonesia's communications minister, on Wednesday urged people to avoid using unregistered services ""to minimize a loss that may incur, if...illegal acts occur in those private services.""The Communications Ministry said it also unblocked access to services of the search engine Yahoo and video-game company Valve Corporation, including Steam and Dota 2, on Tuesday after it said it had blocked them on Saturday.The new licensing rules have courted controversy as activists and the public fear that the government may police social media content.Though the licensing rules were first introduced in 2020, companies like Meta Platforms Inc (META.O) and its units - which include Instagram and WhatsApp - as well as Alphabet Inc's Google registered just hours or days before the deadline in late July. Spotify (SPOT.N), Netflix (NFLX.O), and ByteDance's TikTok have also signed up.With a young, tech-savvy population of 270 million, Indonesia is a top-10 market in terms of user numbers for a host of social media companies.(This story refiles to remove extraneous word in headline)Register now for FREE unlimited access to Reuters.comReporting by Ananda Teresia, Gayatri Suroyo and Stanley Widianto; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.","PayPal registers to Indonesia's licensing rules, access unblocked."
"MoneyWatch August 3, 2022 / 5:00 AM / MoneyWatch Breaking down the U.S. economy's mixed signals Breaking down the U.S. economy's mixed signals 07:14 Small businesses across the U.S. face soaring inflation, supply-chain problems and slowing economic growth, compounding their challenges recovering from the COVID-19 pandemic. In the first of a series of articles by CBS MoneyWatch exploring the key issues confronting small business owners, Jessica Johnson-Cope, CEO of Bronx, New York-based Johnson Security Bureau, discusses how the company is navigating such challenges. This interview has been edited for length and clarity.  Jessica Johnson-Cope, CEO and president of Johnson Security Bureau, says her company's costs are rising, ""but we aren't making more money."" Johnson Security Bureau How has inflation affected your business?Jessica Johnson-Cope: With inflation, we're getting less for more. We have an armored car business, so fuel costs are more expensive. Our largest armored car contract is with the federal government and we forecast those rates out for five years at a time, so we weren't expecting as significant of an increase this year. That's one area where our costs are up but we aren't making more money. Another area where we're seeing inflation is with our uniforms. Our uniform providers source materials from overseas so the shipping costs are more expensive, plus it's taking longer. We don't have opportunities to bake these increased costs into our rates unless we're getting new business, because many of our contracts are long contracts. Plus clients say they have to pay more for this and that, but their revenue isn't increasing that much, so there's only so much you can pass along.  Do recession concerns make it hard to plan ahead? It's already challenging enough to come up with financial projections. In the current financial climate, it's even harder to project what's going to happen from my vantage point.Last week we were securing a construction project, and our client said we would have to reduce coverage because one reason they needed security was to monitor equipment. But because of supply-chain delays, they didn't even have the equipment they needed. We got lucky and received a call from a health care client who needed extra coverage trying to manage Monkeypox, so we sent our people to them. Net-net, it washed out, but that's not something I was anticipating.  I have to be optimistic because if I'm not, then my team won't be, and folks just won't show up — and I need folks to show up. The security services business seems like it would be relatively recession-proof. Yes and no. Depending on who the client is, they respond differently. Companies securing event venues, restaurants, entertainment are taking a hit. But if we're doing more infrastructure and health care-related jobs, we're OK. In some cases, people who provide security for schools are seeing an increased demand in response to what happened in Uvalde and the perceived increased threat to people in school environments. Unfortunately, we're seeing more demand than ever for our services, between concerns about the safety of children and teachers and administrators in school settings, increased concerns about people on public transportation and their safety and people out in public in general.There is also the uncertainty with what will happen during the midterm elections and possible civil unrest. And with the spike in crime in major metro areas like New York City, we're getting more calls than we've gotten in the past three years. Our business prospects are really good, especially if we're not discriminating about the types of contracts we're picking up.Has it been tough to find workers? And how do you compete with larger firms?We definitely compete with larger terms for talent, and it's a challenge. Some people will leave a job for more money, and some people want to be appreciated where they are. It's a matter of listening to people on your team and being responsive to what they're saying.  For folks who do show up, we reward them appropriately, whether it's an extra day off, a gift card to Dunkin' Donuts, or we give them the shifts they want. There are other incentives we can use that aren't always salary or compensation that people really appreciate. Are you a small business owner? CBS MoneyWatch would like to hear about your biggest challenges in the current economic environment and how you are adapting. Please email moneywatch@cbsinteractive.com. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","For small businesses, looming recession brings plenty of uncertainty."
"U.S. House of Representatives Speaker Nancy Pelosi speaks next to Taiwan President Tsai Ing-wen, Vice President William Lai and American Institute in Taiwan (AIT) Director Sandra Oudkirk during a meeting at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Russian Foreign Minister Lavrov said on Wednesday that a visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi was a deliberate attempt by Washington to irritate China.Speaking on a visit to Myanmar, Lavrov criticised the United States and said it was acting with impunity.""I see no other reason to create such an annoyance almost out of the blue, knowing very well what it means for the People's Republic of China,"" Lavrov said.Register now for FREE unlimited access to Reuters.comPelosi's arrival on Tuesday in Taiwan prompted a furious response from Beijing at a time when international tensions are already elevated by the conflict in Ukraine.Russia has come out in support of China, with whom it has forged a strong partnership in recent years, and has warned Washington that Pelosi's visit puts it on a collision course with Beijing. read more Moscow and Beijing both adhere to the 'One China' principle, recognising Taiwan as part of China and opposing independence for the island.Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Andrew Heavens/Guy Faulconbridge.Our Standards: The Thomson Reuters Trust Principles.",Russia's Lavrov: Pelosi visit to Taiwan creates 'annoyance'.
"A pedestrian walks past a Telstra logo adorning a phone booth in the central business district (CBD) of Sydney in Australia, February 13, 2018. Picture taken February 13, 2018. REUTERS/David Gray/Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Australian telecoms firm Telstra Corp (TLS.AX) will address competition concerns by de-registering some radio-communications sites that interfered with Optus' plans to roll out its 5G network, the country's competition regulator said on Wednesday.The Australian Competition & Consumer Commission (ACCC) said it was concerned about Telstra's registration of radio-communications sites in a low-band spectrum, which is likely to have hindered Optus, the local unit of Singapore's Singtel , from deploying its 5G network in Australia.""We do not agree with the ACCC's views that this was potentially anticompetitive,"" a Telstra spokesperson said, adding, they have filed to de-register several sites citing a potentially drawn out case that could be expensive and time-consuming.Register now for FREE unlimited access to Reuters.comTelstra will continue to use equipment and sites in areas where Optus is not rolling out, the spokesperson said.Telstra holds licences for parts of a low-band spectrum of 900 megahertz, which expire in June 2024. Such low-band spectrums have the ability to transmit over greater distances and are crucial for the roll out of a 5G network.""Telstra's undertaking will ensure Optus is not hindered from expanding its 5G rollout, giving more Australians access to a choice of 5G services in regional and metropolitan Australia,"" ACCC commissioner Liza Carver said.In January, Telstra registered 315 sites in the 900 megahertz band spectrum after it became aware of Optus' intention to apply for early access to the Australian Communications and Media Authority (ACMA), the ACCC said.So far, Telstra has de-registered 153 of these sites.The regulator said that since the registration, Telstra has used only a limited number of these sites to deploy 3G services. Telstra said that they moved 3G traffic onto the 900 MHz spectrum to relieve congestion.The telecom firm is now required to de-register sites it registered in January that would have prevented Optus from gaining early access to the spectrum.""We are pleased with the actions taken by the ACCC to promote 5G competition for Australia’s consumers and businesses,"" said Andrew Sheridan, vice-president for regulatory and public affairs at Optus.Register now for FREE unlimited access to Reuters.comReporting by Harish Sridharan in Bengaluru; Additional reporting by Himanshi Akhand; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.",Telstra to address competition concerns over Optus' 5G roll-out - regulator.
"Ukraine's President Volodymyr Zelenskiy attends a joint news conference with Lithuanian President Gitanas Nauseda, as Russia's attack on Ukraine continues, in Kyiv, Ukraine July 28, 2022. Ukrainian Presidential Press Service/Handout via REUTERS Register now for FREE unlimited access to Reuters.comKYIV, Aug 3 (Reuters) - Ukrainian President Volodymyr Zelenskiy said on Wednesday that China was balancing and maintaining neutrality over Russia's war in Ukraine, but that he would like to see China join the countries opposed to Moscow over the invasion.He made the comments by video link at an event organised at the Australian National University.Register now for FREE unlimited access to Reuters.comReporting by Natalia Zinets; writing by Tom Balmforth; editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",Zelenskiy says he would like to see China join countries opposed to Russia.
"Commonwealth Games - Swimming - Men's 50m Breaststroke - Medal Ceremony - Sandwell Aquatics Centre, Birmingham, Britain - August 2, 2022 Gold Medallist England's Adam Peaty celebrates on the podium during the medal ceremony REUTERS/Stoyan NenovRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - England's Adam Peaty said winning 50 metres breaststroke gold at the Commonwealth Games had helped him rediscover his spark - just days after he said he had lost it.The 27-year-old triple Olympic gold medallist clocked 26.76 seconds on Tuesday to claim his first Commonwealth Games title in the event, ahead of Australia's Sam Williamson and Scotland's Ross Murdoch.Peaty had said he was ""heartbroken"" and missing his usual spark after finishing fourth in Sunday's 100m final, an event which he won at the 2014 and 2018 Commonwealth Games. read more Register now for FREE unlimited access to Reuters.com""I had two options this morning -- I either fight or don't fight,"" said Peaty, who had to miss the world championships in June after breaking a bone in his foot.""Everyone who knows me, knows I fight.""That means so much to me, because what I have been through the last five years. I lost my spark towards the beginning of the week and I have it back now.""A lot of people have got to understand that I reached the bottom of the bottom yesterday and to bring myself up with the crowd in my own mind and that is the result. I am so glad I got that loss earlier in the week because these wins feel so much more alive and so much better.""Peaty also joked that he could ""retire now"" after adding the elusive medal to his collection.Register now for FREE unlimited access to Reuters.comReporting by Aadi Nair in Bengaluru; Editing by Peter Rutherford Our Standards: The Thomson Reuters Trust Principles.",Peaty rediscovers his spark after winning 50m breaststroke gold.
"Smoke rises from the partially-collapsed Beirut grain silos, damaged in the August 2020 port blast, in Beirut Lebanon August 2, 2022. REUTERS/Issam AbdallahRegister now for FREE unlimited access to Reuters.comBEIRUT, Aug 3 (Reuters) - Lebanon on Thursday marks the second anniversary of the Beirut port explosion which killed at least 215 people, wounded thousands and damaged swathes of the capital.Despite the devastation wrought by the blast, one of the biggest non-nuclear explosions ever recorded, a judicial investigation has brought no senior official to account.With the probe frozen for months, many Lebanese see this as an example of the impunity enjoyed by a ruling elite that has long avoided accountability for corruption and bad governance, including policies that led to a financial collapse.Register now for FREE unlimited access to Reuters.comHere is a recap of how the blast happened, and the obstacles that have paralysed the investigation.WHAT HAPPENED?The explosion just after 6 p.m. on August 4, 2020, resulted from the detonation of hundreds of tonnes of ammonium nitrate which ignited as a blaze tore through the warehouse where they were stored.Originally bound for Mozambique aboard a Russian-leased ship, the chemicals had been at the port since 2013, when they were unloaded during an unscheduled stop to take on extra cargo.The ship never left the port, becoming tangled in a legal dispute over unpaid port fees and ship defects.No one ever came forward to claim the shipment.The amount of ammonium nitrate that blew up was one fifth of the 2,754 tonnes unloaded in 2013, the FBI concluded, adding to suspicions that much of the cargo had gone missing.The blast was so powerful it was felt 250 km away in Cyprus and sent a mushroom cloud over Beirut.WHO KNEW ABOUT THE CHEMICALS?Senior Lebanese officials, including President Michel Aoun and then-Prime Minister Hassan Diab, were aware of the cargo.Aoun said shortly after the blast he had told security chiefs to ""do what is necessary"" after learning of the chemicals. Diab has said his conscience is clear.Human Rights Watch said in a report last year that high-level security and government officials ""foresaw the significant threat to life ... and tacitly accepted the risk of deaths occurring"".WHO HAS INVESTIGATED THE BLAST?The justice minister appointed Judge Fadi Sawan head investigator shortly after the blast. Sawan charged three ex-ministers and Diab with negligence over the blast in December, 2020, but then hit strong political pushback.A court removed him from the case in February, 2021 after two of the ex-ministers - Ali Hassan Khalil and Ghazi Zeitar - complained he had overstepped his powers.Judge Tarek Bitar was appointed to replace Sawan. He sought to interrogate senior figures including Zeitar and Khalil, both of them members of Parliament Speaker Nabih Berri's Amal Movement and allies of the Iran-backed Hezbollah.He also sought to question Major-General Abbas Ibrahim, head of the powerful General Security agency.All have denied wrongdoing.HOW HAS THE PROBE BEEN STYMIED?All of the current and former officials Bitar has sought to question as suspects have resisted, arguing they have immunity or that he lacks authority to prosecute them.This tussle has played out in the courts, in political life and on the streets.Suspects swamped courts last year with more than two dozen legal cases seeking Bitar's removal over alleged bias and ""grave mistakes"", leading to several suspensions of the investigation.The ex-ministers have said any cases against them should be heard by a special court for presidents and ministers. That court has never held a single official accountable, and it would pass control of the probe to ruling parties in parliament.The probe has been in complete limbo since early 2022 due to the retirement of judges from a court that must rule on several complaints against Bitar before he can continue.The finance minister - who is backed by Berri - has held off signing a decree appointing new judges, citing concerns with the sectarian balance of the bench.WHAT DOES HEZBOLLAH THINK?Bitar has not pursued any members of the heavily armed, Iran-backed Hezbollah group.But Hezbollah campaigned fiercely against him last year as he sought to question its allies. One senior Hezbollah official sent Bitar a message warning that the group would ""uproot"" him.An anti-Bitar protest called by Hezbollah and its allies last October escalated into deadly violence.Hezbollah has accused the United States, which lists the group as a terrorist organisation, of meddling in the probe.The U.S. ambassador has denied this.Hezbollah dismissed accusations made at the time of the blast that it had stored arms at the port and says it had nothing to do with the blast. Its adversaries have long accused the group of controlling the port - something it also denies.Register now for FREE unlimited access to Reuters.comWriting by Timour Azhari and Tom Perry, Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.","Explainer: Two years since Beirut blast, why has no top official been held to account?."
"A man walks in front of the board showing the graph of the German share price index DAX at the stock exchange in Frankfurt, Germany, April 13, 2021. REUTERS/StaffRegister now for FREE unlimited access to Reuters.comSummaryhttp://tmsnrt.rs/2egbfVhhttp://tmsnrt.rs/2yaDPgnMILAN/TOKYO, Aug 3 (Reuters) - World stocks eased slightly on Wednesday as markets weighed risks from U.S. House Speaker Nancy Pelosi's visit to Taiwan and comments from Federal Reserve officials talking up the chance of aggressive interest rate hikes.MSCI's benchmark for global stocks < .MIWD00000PUS> dipped by 0.1% by 0823 GMT, steadying after Tuesday's drop that took the index off the multi-week highs hit after a rally in July.China furiously condemned the highest-level U.S. visit to Taiwan in 25 years as Pelosi pledged American solidarity to an island Beijing views as a breakaway province. read more Register now for FREE unlimited access to Reuters.comAlthough China kicked off a burst of military activity in Taiwan's surrounding waters, investors took some comfort in expectations that Beijing's actions would remain demonstrative.AFS Group analyst Arne Petimezas said the mood found support as ""Pelosi's visit failed to invoke a truly aggressive response by Beijing"".""Still, China will be holding large military drills inside Taiwan’s territory this week. Those drills are larger and closer to the island then they were during the last Taiwan Strait crisis in 1996,"" he added.In Europe, the STOXX 600 (.STOXX) equity benchmark index fell 0.1% after data showed business activity in the euro zone contracted slightly in July for the first time since early last year as consumers reined in spending. read more Japan's Nikkei (.N225) rose 0.5%, rebounding from Tuesday's two-week closing low, while Hong Kong's Hang Seng (.HSI) added 0.1% and Taiwan's TAIEX index (.TWII) rebounded from earlier losses to gain 0.2% at the close.The MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS)fell 0.25%, giving up earlier gains.""Obviously, as investors in China, we would not like to see tensions escalate,"" said Thomas Masi, vice president and co-portfolio manager of the GW&K Emerging Wealth Strategy.""And we don't see the benefit necessarily of this trip, but there could be something that we don't understand. On a risk-reward basis, should tensions ease, there's a lot more upside in these stocks,"" he addedU.S. stock futures were little changed, following the S&P 500's 0.7% drop overnight.A trio of Fed policymakers signalled on Tuesday that there would be no let up in the tightening campaign aimed at taming the highest inflation since the 1980s, even though it will take rates to a level that will more significantly curb economic activity. read more Two of them, San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans, are widely regarded as doves.Traders now see a chance of around 43.5% that the Fed will hike by another 75 basis points (bps) at its next meeting in September.The benchmark U.S. 10-year Treasury yields added 1.3 bps to 2.755%, after surging on Tuesday by 14 bps as the hawkish Fed comments suggested more rate hikes are coming in the near term, as inflation has yet to hit its peak.Germany's 10-year Bund yields, the benchmark for the region, were up around 8 bps at 0.864%.The U.S. dollar index , which gauges the currency against six major peers, fell 0.25% to 106.17, having rebounded on Tuesday from a nearly one-month low at 105.03.Gold gained 0.4% to $1,767.19 per ounce, but following a 0.7% retreat the previous session.Oil prices dipped ahead of a meeting of OPEC+ producers at which producers are expected to keep output steady with spare capacity limited and against the backdrop of fears that a slowdown in global growth will hit fuel demand.Brent crude futures were down $1.34, or 1.3%, at $99.20 a barrel at 0815 GMT. West Texas Intermediate (WTI) crude futures fell $1.28, or 1.4%, to $93.14 a barrel.Register now for FREE unlimited access to Reuters.comReporting by Danilo Masoni, Kevin Buckland and Sam Byford; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Stocks steady as investors weigh Taiwan and Fed risks.
"Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Kansas voters on Tuesday rejected an effort to remove abortion protections from the state's constitution, a resounding win for the abortion rights movement in the first statewide electoral test since the U.S. Supreme Court overturned Roe v. Wade.The amendment's failure in the conservative state lifted Democrats' hopes that the issue of abortion rights will draw voters to the party in November's midterm elections even as they worry about surging inflation.The result also will prevent Kansas' Republican-led legislature from passing severe abortion restrictions in the state, which has become a key abortion access point for America's heartland.Register now for FREE unlimited access to Reuters.com""This should be a real wake-up call for abortion opponents,"" said Neal Allen, a political science professor at Wichita State University. ""When a total ban looks like a possibility, then you're going to get a lot of people to turn out and you're going to lose a lot of the more moderate supporters of abortion restrictions.""Political analysts had expected the Kansas amendment to pass, given that Republicans typically turn out in greater numbers for the state's primary elections than Democrats and independents.But Tuesday's vote drew higher-than-expected turnout. With 98% of the vote counted, 59% of voters favored preserving abortion rights compared to nearly 41% who supported removing abortion protections from the state constitution, according to Edison Research.""This is a titanic result for Kansas politics,"" said Allen.Kansas' ballot initiative is the first of several that will ask U.S. voters to weigh in on abortion rights this year. Kentucky, California, Vermont and possibly Michigan will have abortion on the ballot this fall.The successful ""vote no"" campaign in Kansas could offer a blueprint to abortion rights groups looking to harness voter energy in the wake of Roe's reversal, Allen said.U.S. President Joe Biden joined Democrats across the country in applauding the results on Tuesday.""This vote makes clear what we know: The majority of Americans agree that women should have access to abortion and should have the right to make their own health care decisions,"" Biden said in a statement.Abortion-rights supporters react as early polls showed that voters rejected a state constitutional amendment that would have declared there is no right to abortion, at a Kansans for Constitutional Freedom election watch party in Topeka, Kansas, U.S. August 2, 2022. Evert Nelson/USA Today Network via REUTERS. A statewide survey released by the Docking Institute of Public Affairs at Fort Hays State University in February showed most Kansas residents did not support a total abortion ban.Sixty percent disagreed that abortion should be completely illegal, and 50.5% said, ""The Kansas government should not place any regulations on the circumstances under which women can get abortions.""Kansas Republicans had been pushing for a state constitutional amendment to eliminate abortion rights since 2019, when the Kansas Supreme Court ruled the state constitution protected the right to abortion.As a result of the ruling, Kansas has maintained more lenient policies than other conservative neighbors. The state allows abortion up to 22 weeks of pregnancy with several restrictions, including a mandatory 24-hour waiting period and mandatory parental consent for minors.HIGH STAKES IN NOVEMBERPatients travel to Kansas for abortions from Texas, Oklahoma, Missouri and other states that have banned the procedure almost entirely since the Supreme Court in June overturned Roe, the 1973 decision that legalized abortion nationwide.A spokesperson for the Trust Women abortion clinic in Wichita said 60% of their abortion patients are from out of state.Tuesday's referendum drew national attention and money. The Value Them Both Association, which supported the amendment, raised about $4.7 million this year, about two-thirds of that from regional Catholic dioceses, according to campaign finance data.Kansans for Constitutional Freedom, the main coalition opposing the amendment, raised about $6.5 million, including more than $1 million from Planned Parenthood groups.Susan B. Anthony Pro-Life America, a national anti-abortion group, said it spent $1.4 million to promote the amendment and canvassed 250,000 homes in Kansas.“Tonight’s loss is a huge disappointment for pro-life Kansans and Americans nationwide,” said Mallory Carroll, a spokesperson for the group. ""The stakes for the pro-life movement in the upcoming midterm elections could not be higher.""Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter in Washington; Editing by Colleen Jenkins and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Kansas votes to preserve abortion rights in first post-Roe v. Wade election test.
"U.S. Secretary of State Antony Blinken boards his plane ahead of a trip to Cambodia, Philippians, South Africa, Congo, and Rwanda at Andrews Air Force Base, U.S., August 2, 2022. Andrew Harnik/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - U.S. Secretary of State Antony Blinken discussed the possibility of house speaker Nancy Pelosi's trip to Taiwan with his Chinese counterpart in Bali last month, a senior State Department official said on Wednesday.Blinken has no plans to meet his Chinese or Russian counterparts this week in Cambodia, the official said, where foreign ministers from ASEAN and more than a dozen other countries are attending regional meetings.Register now for FREE unlimited access to Reuters.comReporting by David Brunnstrom; Writing by Kanupriya Kapoor; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.","No plans for Blinken to meet Chinese, Russian counterparts in Cambodia this week - senior U.S. official."
"U.S. President Joe Biden addresses the nation on the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. drone strike, in Washington, U.S. August 1, 2022. Jim Watson/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 3 (Reuters) - President Joe Biden plans to sign a second executive order on Wednesday meant to address the recent Supreme Court decision to end the nationwide constitutional right to abortion, as he faces pressure from fellow Democrats to be more forceful on the issue.The order, like his first one, is expected to have limited impact, as U.S. states enact a wave of laws restricting abortion, access to medication and funding for such services.Last month, Biden said the court was ""out of control"" after ruling in June to overturn Roe v Wade, ending a half-century of protections for women's reproductive rights. His first order in early July directed the federal government's health department to expand access to medication abortion and ensure that women who travel for abortions are protected. read more Register now for FREE unlimited access to Reuters.comThe latest action builds on those measures, and like the first one remains vague about how it can be achieved. It directs the Health and Human Services Department to consider using funds including Medicaid to support women traveling out-of-state for abortion services, a senior administration official said.It also directs the department to ensure health-care providers comply with federal non-discrimination laws when offering such services and orders it to collect data to measure the impact of the ruling on maternal health, the official added.The president will sign the order at the first meeting of the interagency task force on reproductive healthcare access, which was formed in July.Senate Democrats rejected Biden's call to lift the chamber's ""filibuster"" rule requiring 60 of the 100 senators to agree on most legislation to allow them to pass a law establishing a national right to abortion.In the evenly divided Senate, U.S. Vice President Kamala Harris can cast a tie-breaking vote.Since then Biden has pivoted to urging voters to elect more Democrats to Congress in the Nov. 8 midterm elections, when Republicans are favored to win back a majority in the House of Representatives and perhaps also the Senate.Democrats hope the issue may help drive voters to the polls in November.Protecting abortion rights is a top issue for women Democrats, Reuters polling shows. More than 70% of Americans think the issue should be left to a woman and her doctor.On Tuesday, Biden's Justice Department sued Idaho to block a state law that it said imposes a ""near-absolute ban"" on abortion, marking its first legal challenge to state abortion laws since the Supreme Court ruling. read more Register now for FREE unlimited access to Reuters.comReporting by Nandita Bose and Jeff Mason in Washington; Editing by Scott Malone and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.",Biden to sign another executive order seeking to protect abortion rights.
"Hong Kong activist dubbed ""Captain America 2.0"" Ma Chun-man attends a vigil for a protester Marco Leung Ling-kit who fell to his death during a demonstration outside the Pacific Place mall, in Hong Kong, China June 15, 2020. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 3 (Reuters) - A Hong Kong activist dubbed ""Captain America 2.0"" for wielding the superhero's shield during pro-democracy protests in 2019 had his jail sentence reduced to five years on Wednesday after winning an appeal.High Court Chief Judge Jeremy Poon and Justices of Appeal Derek Pang and Anthea Pang, wrote in a summary that was posted on the court's website. ""The 6-year starting point adopted by the judge was manifestly excessive.""The proper starting point should have been 5 years 3 months, and with a discretional discount of 3 months, the final sentence should be one of 5 years.""Register now for FREE unlimited access to Reuters.comMa Chun-man, 31 and formerly a delivery man, was jailed for five years and nine months last November for inciting secession under a sweeping national security law Beijing imposed on Hong Kong in 2020. He was found guilty of inciting secession due to the slogans he chanted, placards displayed and statements he made to the media. read more According to Article 21 of the national security law: ""If the circumstances of the offence committed by a person are of a serious nature, the person shall be sentenced to fixed-term imprisonment of not less than five years but not more than 10 years.""The judges said the lower court judge, Stanley Chan, ""was wrong to use the applicant's lack of remorse as a reason to assign this case to the ""serious"" category"", though it did not affect the conclusion that this case was of a ""serious nature"".What Ma did ""remained at the lower end of that classification"", the judges added.Senior Counsel Edwin Choy, representing Ma, argued that his sentence should be closer to five years, as the impact of Ma chanting a slogan was small and he did not have detailed plans on pushing forward a pro-independence stance.The national security law punishes anything China sees as subversion, secession, terrorism and collusion with foreign forces with up to life in prison and has been widely criticised as a tool to purge political opponents and civil society groups.Authorities in Beijing and Hong Kong say the law was necessary to restore stability to the financial hub after anti-government protests in 2019.More than 200 people, including many of the city's most prominent opposition politicians and activists, have been arrested for endangering national security. Most have been denied bail.Register now for FREE unlimited access to Reuters.comEditing by Anne Marie Roantree and Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",Hong Kong 'Captain America' protester gets lighter sentence after appeal.
"A container ship leaves the port in front of famous landmark Philharmonic Hall in Hamburg, Germany, March 11, 2020. REUTERS/Fabian Bimmer/File PhotoRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 3 (Reuters) - The value of German exports jumped by 4.5% in June to hit a record level, though economists cautioned that much of the increase was likely due to soaring prices.Exports rose for a third month in a row, beating forecasts for a 1% increase and pushing Germany's seasonally adjusted trade surplus to 6.4 billion euros ($6.51 billion) in June, well above consensus for a 2.7 billion euro surplus.Preliminary data last month had shown Germany posting its first trade deficit in more than 30 years, but the May figure of -1.0 billion euros was revised on Wednesday to a surplus of 0.8 billion euros.Register now for FREE unlimited access to Reuters.com""These figures should be taken with a grain of salt,"" Thomas Gitzel of VP Bank said, saying that price increases could increase nominal export volumes without more goods actually having been exported. ""Adjusted for prices, little is likely to remain of the export growth.""The German economy stagnated in the second quarter, with the war in Ukraine, the pandemic and supply disruptions bringing Europe's largest economy to the edge of a downturn. read more The Association of German Chambers of Industry and Commerce (DIHK) warned that Germany's export-reliant industry faced a difficult second half of the year.""Supply chain disruptions and high costs for energy, raw materials and imported inputs continue to hamper production,"" said DIHK foreign trade expert Carolin Herweg.""Also, the cooling of the economies of important export partners, such as the United States, China or the euro zone, is also dampening demand for products 'Made in Germany'.""Exports to the United States, Germany's biggest exports market, rose by 6.2% in June compared with May, while those to European Union member states were up by 3.9%. Exports to China edged up by 2.4% in June.June imports to Germany increased by 0.2% on the previous month in calendar- and seasonally-adjusted terms, the federal statistics office said. Analysts polled by Reuters had pointed to a month-on-month increase of 1.3%.($1 = 0.9833 euros)Register now for FREE unlimited access to Reuters.comReporting by Rene Wagner; Writing by Rachel More and Maria Sheahan; Editing by Andrew Heavens and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.","German exports surge to record level in June, outlook still gloomy."
"Plastic letters arranged to read ""Inflation"" are placed on Chinese Yuan banknote in this illustration taken, June 12, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comLONDON, Aug 3 (Reuters) - Major developed and emerging market central banks around the globe delivered nearly 1,200 basis points in interest rate hikes in July alone, ramping up their fight against multi-decade high inflation with Canada surprising markets with an outsized move.Central banks overseeing five of the 10 most heavily traded currencies delivered 325 basis points of rate hikes between them last month. This brings the total volume of rate hikes since the start of the year across G10 central banks to 1,100 basis points.However, July's tally was less than the 350 basis points seven central banks delivered in June.Register now for FREE unlimited access to Reuters.com""We've reached peak hawkishness of the central banks,"" Christian Kopf, head of fixed income portfolio management at Union Investment, told Reuters.Reuters Graphics Reuters Graphics""Central banks have made it clear that they will not overdo it with the rate hikes,"" Kopf said, adding that was also the message conveyed by U.S. Federal Reserve chair Jerome Powell.July was dotted with some eye catching moves. Canada emerged as the chief hawk, stunning markets by delivering the first 100-basis-point rate increase among the world's advanced economies in the current cycle, lifting its key policy rate to 1.5%.New Zealand delivered its sixth straight interest rate rise and signalled it remained comfortable with its planned aggressive tightening path to restrain runaway inflation. read more And then of course the big one: The Fed delivered its second straight 75-basis-point rate hike, reinforcing its commitment to contain red-hot inflation running at 40-year highs. read more There was no let up for policymakers in emerging markets, where inflation had been on a tear for much longer than in developed economies.Nine out of 18 central banks delivered 850 bps of rate hikes in July. In total, emerging market central banks have raised interest rates by 5,265 bps year-to-date - nearly double the 2,745 bps for the whole of 2021, calculations show.""Emerging market central banks remain more worried about inflation than growth,"" BofA's David Hauner said in a recent note to clients.Reuters GraphicsHungary moved twice in July, jacking up its base rate by 300 basis points to 10.75% with borrowing costs into double-digit territory for the first time since late 2008 - and flagging more hikes ahead. read more Colombia and Chile piled in with a 150 bps and 75 bps hike respectively, though emerging market uber-hawk Brazil, which has lifted rates to 13.25 bps already in June, took a breather.However, emerging markets have also seen cuts with Russia reducing interest rates ratcheted up to 20% in the wake of its Feb. 24 invasion of Ukraine, which sparked sweeping sanctions. read more Inflation pressures would remain a headache for policy makers, said Tobias Adrian, director at the Monetary and Capital Markets Department at the International Monetary Fund (IMF).""The magnitude of the inflation surge has been a surprise to central banks and markets, and there remains substantial uncertainty about the outlook for inflation,"" Adrian wrote in a blog on Monday.""Inflation risks appear strongly tilted to the upside,"" Adrian said, adding there was a substantial risk that price pressures were becoming entrenched and expectations unanchored.Register now for FREE unlimited access to Reuters.comReporting by Karin Strohecker and Vincent Flasseur in London, Additional reporting by Dhara Ranasinghe; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.","Global cenbanks lift rates by nearly 1,200 bps in July."
"3D printed Natural Gas Pipes are placed on displayed German and Russian flags in this illustration taken, January 31, 2022. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comBERLIN, Aug 3 (Reuters) - The German government will have to amend its energy security law again in September as its gas levy cannot yet be imposed on all consumers, including those with fixed prices contracts, government and parliamentary sources told Reuters on Wednesday.A gas levy, which had been set to come into force from October, was envisaged as a tool to collect funds from all gas consumers to support ailing gas importers that are struggling with soaring prices due to falling Russian gas export flows. read more Industry sources told Reuters that around one quarter of gas consumer contracts have clauses that would guarantee fixed prices, which would make adding on a levy difficult.The economy ministry declined to comment.Register now for FREE unlimited access to Reuters.comReporting by Markus Wacket
Writing by Riham Alkousaa and Vera EckertOur Standards: The Thomson Reuters Trust Principles.","EXCLUSIVE Germany's gas levy cannot be implemented as planned, say sources."
"Rising sea levels are forcing Fiji's villagers to relocate. They want polluters to pay instead Seawater floods past an ineffective sea wall into the community of Veivatuloa, Fiji, July 16, 2022. REUTERS/Loren Elliott Local resident Selai Uluivuya fishes with a hand-line in an abandoned graveyard flooded by a high tide at Togoru, Fiji, July 12, 2022. REUTERS/Loren Elliott Local resident Tarusila Boseiwaqa walks along a sea wall that no longer protects homes from the intrusion of water at higher tides, as a rainbow shines over Serua village, Fiji, July 14, 2022.  REUTERS/Loren Elliott Local resident Roemoni Tubivuna and his grandson Roemoni Tubivuna Jr., 10, prepare a fishing net, as their boat rests against a flooded sea wall which is no longer effective at preventing water intrusion into their community at high tide, in Veivatuloa, Fiji, July 16, 2022.  REUTERS/Loren Elliott Local resident Semisi Madanawa, 38, drives his boat from Serua Island to the mainland at high tide, while looking after Monika Betomakita, 11, who joined for the outing, at Serua Village, Fiji, July 14, 2022. Ratusela Waqanaceva, 14, wades through seawater that has  flooded over an ineffective sea wall at high tide in Serua village, Fiji, July 15, 2022.  REUTERS/Loren Elliott Local children play along a sea wall that no longer stops the intrusion of water at higher tides in Serua Village, Fiji, July 13, 2022. Village children pass the time in front of a home in Serua village, Fiji, July 15, 2022.  REUTERS/Loren Elliott Local resident Adi Latianara and her niece Tokasa Robanakadavu, 10, prepare cassava root in Serua village, Fiji, July 14, 2022.  REUTERS/Loren Elliott Local resident Semisi Madanawa, 38, holds his daughter Aliti Madanawa, 3, during a fishing outing on his boat near Serua village, Fiji, July 15, 2022.  REUTERS/Loren Elliott  Local students Jona Togaciri, Talikai Kavu, Semisi Dradra, Tavaga Dradra and Joanna Dradra gather at the edge of a flooded sea wall during high tide, while working on a boat motor in Serua village, Fiji, July 15, 2022.  REUTERS/Loren Elliott Local resident Rapuma Tuqio, 67, looks out at seawater flooding around his home at high tide in Veivatuloa, Fiji, July 16, 2022. REUTERS/Loren Elliott The morning's first rays of sunlight hit the island community of Serua village, Fiji, July 15, 2022.  REUTERS/Loren Elliott Local boy Ratukali Madanawa, 8, takes a break from diving in the sea at Serua village, Fiji, July 14, 2022.  REUTERS/Loren Elliott Local resident Roemoni Tubivuna departs to go fishing with his grandsons at Veivatuloa, Fiji, July 16, 2022.  REUTERS/Loren Elliott Local boy Ratukali Madanawa, 8, pulls a fish from a net next to Serua village, Fiji, July 14, 2022.  REUTERS/Loren Elliott Local residents fish in front of the abandoned site of the old Vunidogoloa, Fiji, July 19, 2022.  REUTERS/Loren Elliott Villagers harvest edible seaweed, sea snails and other food sources during low tide next to Serua village, Fiji, July 14, 2022.  REUTERS/Loren Elliott The moon rises over Serua village, Fiji, July 13, 2022.  REUTERS/Loren Elliott Verina Delasau, 63, stands in her home in Veivatuloa, Fiji, July 12, 2022. REUTERS/Loren Elliott Retired local resident David Tuimalawai prays with fellow community members during a Sunday church service in Vunidogoloa, Fiji, July 17, 2022.  REUTERS/Loren Elliott Local resident Emi Lawai feeds 9-month-old Jo Sorowai, as sister-in-law Naomi Dakai, a resort worker, looks after son Micah Dakai, 3, and her friend's daughter Sera Drenauna, 5, at home in the coastal community of Vunaniu, Fiji, July 13, 2022.  REUTERS/Loren Elliott The inside of an abandoned home is seen at the former site of Vunidogoloa, Fiji, July 18, 2022.  REUTERS/Loren Elliott The inside of an abandoned home is seen at the former site of Vunidogoloa, Fiji, July 18, 2022.  REUTERS/Loren Elliott Children get off a school bus as they return home for the day to the new relocated site of Vunidogoloa, Fiji, July 20, 2022.  REUTERS/Loren Elliott Local resident Tomasi Dioni looks after a bull at the relocated inland site of Vunidogoloa, Fiji, July 19, 2022.  REUTERS/Loren Elliott Local resident Lusiana Suluweti walks the road from the inland village site to the abandoned former village by the sea in Vunidogoloa, Fiji, July 18, 2022.  REUTERS/Loren Elliott The Wider Image Photography: Loren Elliott Reporting: Loren Elliott and Kirsty Needham Photo editing: Gabrielle Fonseca Johnson Text editing: William Mallard Design: Marta Montana Gomez Follow Reuters Investigates",Rising sea levels are forcing Fiji's villagers to relocate.
"House Speaker Nancy Pelosi's trip to Taiwan ramps up U.S.-China tensions and risks pushing the countries further apart, according to one economist.On Wednesday, the top U.S. lawmaker met Taiwan President Tsai Ing-wen in a highly controversial visit that has angered Beijing.""We're on a trajectory of escalating conflict and this will certainly make matters worse. It plays well to local politics in the United States and in Taiwan, but it does not play well to geostrategic forces that are pushing these two nations apart,"" Stephen Roach, a Yale University senior fellow and former Federal Reserve economist, told CNBC's ""Street Signs Asia"" on Wednesday.""The leadership in both the U.S. and China to address this conflict is compromised by this basically pouring salt in an open wound for China,"" added Roach, who was also previously chairman of Morgan Stanley Asia.Roach said, however, that does not mean China should be ""let off the hook"" for some of the concerns that Pelosi has raised.""But to raise them in the context of a deteriorating relationship is asking for more serious repercussions in a much more difficult and intractable path to resolution. And we are not on a path to resolution. This visit if anything, it pushes that point of coming back together apart rather than bringing it closer together.""Read more about China from CNBC ProPelosi is the highest-ranking U.S. official to visit Taiwan in 25 years, drawing the ire of China which called the move a breach of the ""one China"" policy. Under that framework, the U.S. recognizes Beijing as the sole legal government of China, though Washington also maintains unofficial relations with Taiwan.China on 'defensive'China had warned it would respond if Pelosi visited Taiwan, a self-ruled island that Beijing considers a runaway province.At a Wednesday press conference after meeting Tsai, Pelosi said Taiwan was a symbol for democracy and was a contrast to the political system on mainland China and Hong Kong where the ""one country two systems"" promise ""didn't happen.""Pelosi got ""a lot of bipartisan praise"" when details of her trip became public, Doug Heye, a former communications director at the Republican National Committee, told CNBC's ""Capital Connection"" on Wednesday.""I actually am incredibly proud of what Nancy Pelosi did on this trip. The easy thing to do would've been to fold and she sure didn't do it,"" he said, adding the House speaker is ""consistent with being who she really is.""Still, Pelosi's trip creates a new headache for the Biden administration, which has tried to convince Beijing the visit says nothing about U.S. policy toward China or Taiwan.Roach said the trip puts China on the defensive, pushing Beijing to demonstrate its resolve to pursue eventual reunification of Taiwan with the mainland.""This is a setback to that objective in China,"" he added."" I think China will make some compensating adjustment to offset the setback. I don't think China will do anything rash. I don't look for a overt military action, although ... there is a considerable exercise or power going on in the Taiwan Strait.""Ahead of Pelosi's arrival in Taiwan, the Chinese military held live-fire exercises, deployed fighter jets to the Taiwan Strait and announced more military drills. Roach said while these maneuvers may not precipitate anything more immediate or serious, the risk of accidents shouldn't be taken lightly.China won't be 'reckless'Despite China's saber rattling, Beijing won't do anything ""reckless,"" said Ja Ian Chong, an associate professor of political science at the National University of Singapore.""I don't think that Beijing wants a crisis to spiral out of control as well … They want to send a strong message, but I don't think they will want to do anything that's particularly reckless,"" he told CNBC's ""Squawk Box Asia"" on Wednesday.""I think it's important to keep that in mind. A lot of this messaging intends to create alarm, intends to create fear and to suggest that any effort to do what China does not like with Taiwan brings substantial costs and substantial risks,"" he added.He underlined ""coercion itself"" comes with enormous costs and risks to Beijing, adding it's critical to  balance that kind of ""threatening behavior with a consideration of what Beijing actually wants and what Beijing's able to carry off.""","Pelosi's trip to Taiwan is like 'pouring salt in an open wound for China', Stephen Roach says."
"An energy identification card is seen on the day of German Chancellor OIaf Scholz's visit to Siemens Energy's site, where he saw a gas turbine meant to be transported to the compressor station of the Nord Stream 1 gas pipeline in Russia, in Muelheim an der Ruhr, Germany, August 3, 2022. REUTERS/Wolfgang Rattay/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesThis content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 3 (Reuters) - Tension over giant turbines that Moscow blames for the reduction of flows via the Nord Stream 1 gas pipeline has put the focus on the equipment it needs to operate.The crucial part is SGT-A65, a Siemens Energy (ENR1n.DE) turbine that is 12 metres long, weighs 20 tonnes, and needs to be transported back to Gazprom's Nord Stream Portovaya compressor station following maintenance.It is stuck in transit in Germany, with Russia pointing to outstanding issues around its transport and Western sanctions, while Germany blames Moscow for deliberately holding up the process.Register now for FREE unlimited access to Reuters.comOn Monday, Kremlin spokesman Dmitry Peskov had said there was little Russia could do to help with urgent repairs required to malfunctioning Nord Stream 1 gas pipeline equipment.German Chancellor Olaf Scholz will visit the turbine on Wednesday, Siemens Energy said late on Tuesday.WHAT'S THE PROBLEM?President Vladimir Putin says the West has unleashed an economic war aimed at destroying Russia and its economy, and has promised to sell Russia's vast energy resources to countries in Asia such as China if European customers do not want to buy them.Kremlin-controlled Gazprom has reduced flows through Nord Stream 1, the single biggest pipeline carrying Russian gas to Germany, to 20% of capacity because of what it describes as faulty equipment, notably the SGT-A65 turbine whose return has been delayed.Germany has said that the turbines are a pretext, and that Moscow is using gas as a political weapon. ""They don't even have the guts to say 'we are in an economic war with you',"" German Economy Minister Robert Habeck said last month.Gazprom has also halted another Siemens Energy gas turbine at the station, citing routine maintenance and the ""technical condition"" of the engine.TURBINES AND COMPRESSORSEight industrial aeroderivative gas turbines were originally manufactured by Rolls-Royce for the Portovaya station. Rolls-Royce's gas turbine-making operations were bought by Siemens Energy in 2014.These turbines are needed to power driving centrifugal compressors, which raise pressure by condensing gas volumes to ensure smooth transport of the fuel.According to Gazprom, six of the gas pumping units at Portovaya have a capacity of 52 megawatts (MW) each, while two units have a capacity of 27 MW each.In addition, there are four spare turbines on site to ensure the station keeps pumping if some equipment has to leave the site for maintenance, which usually happens every two-to-three years, a person familiar with the matter said.Two of the six large units may stay idle without reducing the station's capacity, a source familiar with how the station operates said.Gazprom did not reply to questions about Nord Stream 1 operations.""Understandably a lot of people are saying 'this is just the Russians making excuses while they put pressure on the European energy market',"" Jonathan Stern, Distinguished Fellow at the Oxford Institute for Energy Studies, said.""That is entirely possible because we just don't know enough from either Siemens or Gazprom about the maintenance schedule. The problem is that neither side is giving us the information we need.""WHAT'S PORTOVAYA?The Portovaya compressor station is located near the Russian city of Vybord on the shores of the Gulf of Finland, where the Nord Stream 1 gas pipeline enters the Baltic Sea.The station pumps natural gas across the Baltic Sea via Nord Stream 1's 1,224 km (760 mile) undersea route to where it makes landfall in Germany's Greifswald. Gazprom calls Portovaya the world's largest compressor station.Nord Stream 1 has a nameplate capacity of 55 billion cubic metres (bcm) per year. However, the pipeline pumped more than 59 bcm in 2020 and 2021 after measures were taken to raise capacity, representing more than a third of Russia's total gas supply to the European Union.Portovaya reached a daily record of almost 177 million cubic metres per day in 2020.RUSSIAN TURBINESRussia produces turbines with a maximum capacity of 25 megawatts.Engineering company Power Machines is developing two types of turbine with capacities of 65 MW and 170 MW each, it said.The 65 MW turbine is expected to start working in testing mode only in 2024, and the other later in 2022 or in 2023.Russian Industry and Trade Minister Denis Manturov said in a speech last month in parliament that Russia is speeding up trials of the large turbines ""in the interests of the Russian power sector"".Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Jan Harvey and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.",Explainer: Nord Stream turbine tension puts focus on gas pipeline parts.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - A bill expanding healthcare coverage for veterans sickened by gases from military toxic burn pits passed the U.S. Senate on Tuesday night after unexpectedly getting held up by opposition from Republicans last week.The U.S. military used burn pits to dispose of waste on foreign bases until the mid-2010s. Fumes from burning everything from rubber, chemical waste, ammunitions and human feces have caused rare cancers and respiratory illnesses in veterans. read more The bill initially passed the 100-member Senate with the support of 34 Republicans and all 50 Democrats, but got held up by a technical error the House swiftly corrected.Register now for FREE unlimited access to Reuters.comThe Senate's final approval last week was expected to be a routine vote, but after Democrats announced a deal within their caucus on an unrelated climate and tax bill that would not require bipartisan support, a group of Republican senators abruptly changed their positions and voted against the corrected bill.Many saw the Republican senators' move, which took place just hours after the Democrats' announcement, as retribution for continuing negotiations on the climate and tax bill that most in Congress thought were dead.On Tuesday, Democratic Senator Chuck Schumer said he had reached a deal with Republican Senator Pat Toomey to hold a vote on an amendment that would change how money was allocated within the burn pits bill, clearing the way for a final vote on passage on Tuesday evening.Senate Majority Leader Chuck Schumer (D-NY) embraces a veteran during a news confrence, following the completion of a vote on the Promise to Address Comprehensive Toxics (PACT) Act on Capitol Hill in Washington, U.S., August 2, 2022. REUTERS/Tom BrennerToomey's amendment was defeated before the Senate approved the legislation by a vote of 86-11.Veterans who have pushed for the bill have camped on the Capitol steps since Thursday evening when the bill last came to the floor. U.S. President Joe Biden called the veterans on Saturday and said he stood in solidarity with them, according to Rosie Torres, a veterans' advocate.Torres believes the Republican senators who changed their vote treated veterans like ""political pawns.""""It shouldn't be about politics,"" Torres said. ""People are dying.""Veterans and their advocates - including comedian Jon Stewart, an outspoken supporter of the bill - packed the galleries of the Senate chamber to watch the final vote on Tuesday night.Biden said in a statement he looks forward to signing the bill into law ""so that veterans and their families and caregivers impacted by toxic exposures finally get the benefits and comprehensive health care they earned and deserve.""Register now for FREE unlimited access to Reuters.comReporting by Moira Warburton, Rose Horowitch and Katharine Jackson; Editing by Chris Reese and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","After unexpected hurdles, military toxic burn pits bill passes U.S. Senate."
"German Chancellor OIaf Scholz stands next to a gas turbine meant to be transported to the compressor station of the Nord Stream 1 gas pipeline in Russia during his visit to Siemens Energy's site in Muelheim an der Ruhr, Germany, August 3, 2022. REUTERS/Wolfgang Rattay Register now for FREE unlimited access to Reuters.comMUELHEIM AN DER RUHR, Germany, Aug 3 (Reuters) - German Chancellor Olaf Scholz on Wednesday blamed Moscow for delays in the return of gas turbine for the Nord Stream 1 pipeline that had been serviced in Canada but has since been stranded in Germany in an escalating energy standoff.""The turbine works,"" Scholz said during a factory visit to Siemens Energy (ENR1n.DE) in Muelheim an der Ruhr.""It (the turbine) can be transported and used at any time,"" he said. ""The non-fulfilment of the gas supply contracts has no technical reasons whatsoever,"" the chancellor added.Register now for FREE unlimited access to Reuters.comEuropean governments have accused Russia of throttling gas supplies on spurious pretexts in revenge for Western sanctions after the invasion of Ukraine.Moscow denies doing so and cited issues with the turbine as the reason for lower gas flows through Nord Stream 1.A senior manager at Russian gas giant Gazprom (GAZP.MM) said that delivery of the turbine to Germany from Canada after the maintenance work had been completed was not in line with the contract.Register now for FREE unlimited access to Reuters.comReporting by Christoph Steitz, writing by Kirsti Knolle and Matthias Williams
Editing by Madeline ChambersOur Standards: The Thomson Reuters Trust Principles.",'The turbine works': Germany's Scholz points finger at Russia in energy row.
"Attia Salama, a former neighbour of Al Qaeda leader Ayman al-Zawahiri, talks with Reuters TV at the upscale Cairo suburb of Maadi, in which Ayman al-Zawahiri used to live, Egypt, August 2, 2022. REUTERS/Amr Abdallah DalshRegister now for FREE unlimited access to Reuters.comCAIRO, Aug 2 (Reuters) - Al Qaeda leader Ayman al-Zawahiri, who was killed by a U.S. drone strike in Kabul, seemed harmless to neighbours when he was a young man growing up in a leafy Cairo suburb.""Years went by, and then all of a sudden we heard about Ayman al-Zawahiri doing all these things, he became something we would have never imagined,"" said Attia Salama, his former neighbour in the upscale Cairo suburb of Maadi.""He used to be quiet, no one used to pay attention to him at all. Our experience with him and his family was totally normal, we had no idea he was with that movement.""Register now for FREE unlimited access to Reuters.comZawahiri, an Egyptian surgeon, went on to become the leader of one of the country's most feared militant groups, Islamic Jihad, convincing disillusioned young men to turn against the U.S.-backed state.A lawyer for the Zawahiri family could not immediately be reached for comment on Tuesday.Zawahiri orchestrated a campaign in the mid 1990s to overthrow the government and set up a purist Islamic State. More than 1,200 Egyptians were killed.Egyptian authorities mounted a crackdown on Islamic Jihad after an assassination attempt on President Hosni Mubarak in June of 1995 in Addis Ababa.The greying, white-turbaned Zawahiri responded by ordering a 1995 attack on the Egyptian embassy in Islamabad. Two cars filled with explosives rammed through the compound’s gates, killing 16 people.Zawahiri did not emerge from Cairo's slums, like others drawn to militant groups who promised a noble cause. Born in 1951 to a prominent Cairo family, Zawahiri was a grandson of the grand imam of Al Azhar, one of Islam's most important mosques.Zawahiri was raised in Maadi suburb, a place favoured by expatriates from the Western nations he railed against. The son of a pharmacology professor, Zawahiri first embraced Islamic fundamentalism at the age of 15.Zawahiri was killed on Sunday in Kabul, Afghanistan, by a U.S. drone missile, officials in Washington said. read more CLIMBS AL QAEDA RANKSHis former neighbour Salama stood on a typical Egyptian street filled with vegetable vendors, cafes, mechanics and buses as he reflected on Zawahiri's life before he climbed the ranks of Al Qaeda determined to terrorise the United States and other Western countries.Zawahiri's friends used to come by and then they would all go and pray, Salama said.""We were surprised to see the state security coming in two cars and taking him and his brother Hussein and detaining them,"" said Salama, referring to state security agents working for Mubarak.""He used to go around and pray and go to his clinic. And then all of sudden it changed, and security came and got him.""Zawahiri disappeared after he was released from prison and eventually headed to Afghanistan to fight Soviet occupation troops. Determined to keep tabs on Zawahiri, security forces would pass by Maadi and question his father and mother about his whereabouts.He would go on to become the mastermind of some of Al Qaeda's most spectacular attacks. He had a $25 million bounty on his head and helped to coordinate the Sept. 11, 2001, attacks on the United States that killed nearly 3,000 people.Another acquaintance from the neighbourhood, Hassan Izzeldin, said his family were well-known, decent people.""He chose this path for himself, and he is the one to blame for his end,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Nafisa Eltahir, Amr Abdalla and Sayed Sheasha; Writing by Michael Georgy; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.",Zawahiri's militant path surprised neighbours in Cairo suburb.
"U.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comBEIJING, Aug 3 (Reuters) - China on Wednesday suspended exports of natural sand to Taiwan and halted imports of fruit and fish products from the self-governed island as U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip condemned by Beijing. read more In a warning salvo ahead of Pelosi's visit, Chinese customs had suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday. read more In January-June, China's imports from Taiwan reached $122.5 billion, up 7.3% from a year earlier, Chinese customs data showed. Top imported goods included integrated circuits and electronic components.Register now for FREE unlimited access to Reuters.comNATURAL SANDChina's commerce ministry said exports of natural sand - widely used for construction and in concrete - to Taiwan were suspended from Wednesday.Such a move was based on laws and regulations, the ministry said, without elaborating.In March 2007, China halted exports of natural sand to Taiwan due to environmental concerns. The ban lasted for a year. According to Chinese official data, more than 90% of Taiwan's natural sand imports came from China in 2007.FRUIT AND FISHChina also halted imports of citrus fruit, chilled white striped hairtail and frozen horse mackerel from Taiwan from Wednesday, a suspension which it said was due to pesticide residue found on citrus fruit, while traces of the novel coronavirus were detected on the packaging of some frozen fish products in June.China's top food and agricultural imports from Taiwan include seafood, coffee, dairy products, beverages and vinegar.In January-June, China's biggest agricultural and food import items from Taiwan were fish and other aquatic invertebrates, reaching 399 million yuan ($59 million).Earlier this year, China suspended imports of grouper fish from Taiwan, saying it had detected banned chemicals.Last year, Beijing also suspended pineapple, sugar apple and wax apple imports from the island, citing pest concerns. read more TWO FOUNDATIONSChina also vowed to take ""disciplinary actions"" against two Taiwan foundations which it claimed had aggressively engaged in pro-independence separatist activities.The two foundations - Taiwan Foundation for Democracy and Taiwan Foreign Ministry's International Cooperation and Development Fund - will be banned from cooperating with any organisations, companies and individuals in the mainland, China's state news agency Xinhua on Wednesday cited Ma Xiaoguang, spokesman of China's Taiwan Affairs Office, as saying.China will punish any mainland organisations, companies and individuals that provide financial support to or serve the two foundations, Xinhua reported, adding other measures will be adopted if necessary.In addition, any deal or cooperation between four specific Taiwanese firms and mainland companies are not allowed due to their donations to the two foundations.Executives at the four Taiwanese companies - solar producer Speedtech Energy Co., Hyweb Technology Co., medical equipment producer Skyla, and cold chain vehicle fleet management company SkyEyes - will be prohibited from entering mainland China.($1 = 6.7506 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.comReporting by Beijing Newsroom, Ryan Woo and Emily Chow; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Factbox: Economic sanctions China has imposed on Taiwan over Pelosi visit.
"A person holds an umbrella as the logo of French Bank Societe Generale is seen outside a bank building in Saint-Sebastien-sur-Loire near Nantes, France, May 4, 2021. REUTERS/Stephane Mahe/File Photo Register now for FREE unlimited access to Reuters.comSummaryCompanies3.3 bln euro hit from Russian unit saleQ2 loss at 1.5 bln vs expectations of over 2 blnRevenues came in higher than expectedPARIS, Aug 3 (Reuters) - A buoyant second quarter and new three-year targets helped to boost Societe Generale's (SOGN.PA) shares on Wednesday, as the French bank weathered a 3.3-billion-euro ($3.4 billion) hit from the sale of its Russia business.France's third-biggest listed bank, which is seeking a new chief executive, reported a 1.48-billion-euro loss, while analysts on average had expected a loss of more than 2 billion.The better-than-expected result, helped by robust retail and investment banking activity, lifted SocGen's shares 4.2% in early trading, the strongest performance in the pan-European banking index (.SX7E).Register now for FREE unlimited access to Reuters.comNet banking income rose just over 7 billion euros, about 600 million euros higher than expected, while operating expenses came in lower at 4.46 billion euros, the bank said, as it confirmed the launch of a 915 million euros share buyback plan.""These are excellent results, with the good news of the share buyback and ambitious but achievable goals,"" said Jerome Legras, head of research at Axiom Alternative Investments.The group's ROTE (Return On Tangible Equity) profitability ratio stood at 10.5% on an underlying basis. It said it was aiming for ROTE of 10% and a CET 1 capital ratio of 12% in 2025.Among other goals set for the next three years, the bank seeks to deliver a cost-to-income ratio of 62 or below and maintain a pay-out ratio of 50% of its profits. It is aiming for average annual revenue growth of at least 3% for 2021-2025.LOOKING FOR A NEW CEOQuarterly revenue rose 23.3% to 1.5 billion euros in the global markets business, where equity trading activity increased by 7.5% to 833 million euros, while fixed income and currency activities increased 50% to 683 million euros.French and international retail reported a rise in net banking income of 8.5% to 2.26 billion euros and 12.7% to 1.27 billion respectively.In May, SocGen closed the sale of its Russian business Rosbank (ROSB.MM) to the Interros group. read more The same month, CEO Frederic Oudea took investors by surprise by saying he would step down next year after running the lender for 15 years.""There is nothing new on that front,"" Oudea told journalists on a conference call, saying the decision on a new CEO was still expected for the autumn.Speculation has so far centred around Sebastien Proto, currently merging SocGen's retail networks in France, as well as Slawomir Krupa, head of global banking and investor solutions activities.Jacques Ripoll, who just left Credit Agricole SA (CAGR.PA), Philippe Heim, the head of France's postal bank, and Jean Pierre Mustier, former CEO of Italy's UniCredit (CRDI.MI), are among former SocGen executives mentioned as potential options.Rival BNP Paribas (BNPP.PA) reported better-than-expected profits on Friday. read more ($1 = 0.9819 euros)Register now for FREE unlimited access to Reuters.comReporting by Julien Ponthus, Matthieu Protard, Ingrid Melander
Editing by Stephen Coates, Jane Merriman and Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Buoyant Q2 and new targets help SocGen weather Russia blow.
"U.S. August 2, 2022 / 1:21 PM / CBS/AP George Washington's final years George Washington's final years 07:07 Researchers believe they have uncovered in a mass grave in New Jersey the remains of as many as 12 Hessian soldiers who fought during the Revolutionary War, officials announced Tuesday.The remains, found at the site of Fort Mercer and the 1777 Battle of Red Bank, rested for 245 years until a human femur was found in June during an archaeological dig of a trench system that surrounded the fort, scientists said. Additional excavation yielded more skeletal remains and items including pewter and brass buttons and a King George III gold guinea, which would have been a soldier's pay for a month.A team of scientists from Rowan University and officials from Gloucester County presented their preliminary findings during a news conference at Red Bank Battlefield Park, just south of Philadelphia.Rowan Research: Rewriting Revolutionary War historyUnexpected victory in 1777, unexpected discovery in 2022: Some 245 years after they were buried in a mass grave, the human remains found at Red Bank Battlefield change what historians understood of battle’s aftermath October 1777 fight between American and Hessian forces. Rowan University history professor Jennifer Janofsky tells about the research, along with principal archaeologist Wade Catts. Learn more at go.rowan.edu/redbankbattlefield. #RowanResearchPosted by Rowan University on Tuesday, August 2, 2022
Officials believe the remains are part of a mass grave of Hessian soldiers - German troops hired by the British - who were part of about 377 troops killed by Colonial forces during the Battle of Red Bank. Americans lost 14, historians said. The victory allowed Americans at the fort to delay the British from moving supplies up the Delaware River.""Based on everything we've found and the context of what we've found, these appear to be Hessians,"" Wade Catts, principal archaeologist for South River Heritage Consulting of Delaware, said in a statement. The remains have been turned over to forensic anthropologists at the New Jersey State Police forensic unit to extract DNA from the bones and teeth to identify their origin. Additional studies are being conducted to examine life history, health and disease.The scientists hope they can identify the remains and find their descendants.""We're hoping that eventually, perhaps, we can find some of these individuals,"" Rowan University public historian Jennifer Janofsky said in a statement. ""If we can extract their stories, and if we can tell their stories, it lets us put a name to a face. And that, to me, is a very powerful moment in public history.""Officials said the remains were excavated with ""extraordinary attention"" to preserving the dignity of war dead. When the study is complete, they will be interred at another site, and the trench will be refilled. The land will be incorporated into the park on a bluff overlooking the river.""Archaeology is helping us better understand what happened on the battlefield,"" Janofsky said. Flags indicate the location of human remains discovered at the Red Bank Battlefield Park in National Park, N.J., Tuesday, Aug. 2, 2022. Researchers believe they have uncovered in a mass grave in New Jersey the remains of as many as 12 Hessian soldiers who fought during the Revolutionary War, officials announced Tuesday. Matt Rourke / AP Over a decade ago, archaeologists uncovered other artifacts — some from the 1770s and others dating back to 500 BC — in front of a museum at Red Bank Battlefield Park, CBS Philadelphia reported.Some of the items included chips of stone that were knocked off when Native Americans were making arrowheads and spear points, as well as pottery.  They also uncovered bits of plates, bottles, glass, clay smoking pipes, buttons, French-made gun flints from the 1770s and an Andrew Jackson victory button dating from 1828. In: Revolutionary War New Jersey Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Remains of soldiers unearthed at Revolutionary War battle site in New Jersey: ""A very powerful moment in public history""."
"Athletics - 2021 World Athletics U20 Championships - Botswana's Letsile Tebogo celebrates after winning gold at the Men's 100 meters final - Kasarani Stadium, Nairobi, Kenya - August 19, 2021.REUTERS/Baz RatnerRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Teenager Letsile Tebogo has attracted comparisons to Usain Bolt after showboating his way to the under-20 100 metres world title in a record time with a scorching run in Colombia on Tuesday.The 19-year-old Botswanan clocked 9.91 seconds to improve the junior world record of 9.94 he set in the heats of the senior world championships last month, but clearly could have gone even faster.Tebogo made a blistering start at Cali's Pascual Guerrero Stadium and coasted through the final 20 metres, turning to gesticulate at silver medallist Bouwahjgie Nkrumie with a huge smile on his face as he cruised to the line.Register now for FREE unlimited access to Reuters.comThe early celebrations were a deliberate echo of Bolt's when the Jamaican great won the first of his eight Olympic sprint gold medals in a world record time of 9.69 at the 2008 Beijing Games.""If somebody took it as disrespect, I'm really sorry,"" Tebogo told the website of World Athletics.""(It was so) everybody watching at home can enjoy the race – to remind them a little bit about what Usain Bolt did back in the day. He's my idol - the person I look up to.""Comparisons with Bolt immediately flooded onto social media and the run attracted the attention of the man himself, who retweeted the result.Tebogo said he thought could have run as fast as 9.80 had he not coasted through the end of the race.""We have more races to come, we didn't want to go that far,"" Tebogo said.""But this is my year as a junior, we have to leave (the record) here for the next generation to come and break it.""Register now for FREE unlimited access to Reuters.comReporting by Nick Mulvenney in Sydney, editing by Peter RutherfordOur Standards: The Thomson Reuters Trust Principles.",Tebogo draws Bolt comparisons after showboating to junior record.
"U.S. House of Representatives Speaker Nancy Pelosi speaks next to Taiwan President Tsai Ing-wen and American Institute in Taiwan (AIT) Director Sandra Oudkirk during a meeting at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - A staunch defender of human rights and long-time China critic, U.S. House of Representatives Speaker Nancy Pelosi is set to meet rights activists in Taiwan on Wednesday, a move certain to ramp up already fraught tensions between Beijing and Washington.Among those she will meet are a Hong Kong bookseller who fled to the self-ruled island in 2019, a former Tiananmen demonstrator and a Taiwanese activist recently released by China, people familiar with the matter told Reuters.China has condemned Pelosi's visit to the democratic island that Beijing claims as its own, responding with increased military activity in surrounding waters and by summoning the U.S. ambassador in Beijing. read more Register now for FREE unlimited access to Reuters.comBookstore owner Lam Wing-kee hopes Pelosi can help Hong Kongers who are afraid to return to their city amid fears they will be persecuted under a sweeping national security law.""I want to discuss with her whether there is a possibility for the U.S. government to help those who cannot return to Hong Kong and who may not be able to obtain identity cards in Taiwan, to help them to go to the United States,"" Lam told Reuters.Lam was detained in China for eight months in 2015 over books critical of China's leaders and their private lives.An invitation Lam said he received from the American Institute in Taiwan, the United States de facto embassy, lists the National Human Rights Museum in Xindian, New Taipei City, as the location for a meeting. Pelosi is not specifically mentioned in the invitation.AIT said it expected to invite seven guests to the meeting and requested that each prepare three-minute opening remarks, according to the invitation, which was reviewed by Reuters.AIT declined to comment on the meeting.Less than two hours by flight from Hong Kong, Taiwan is a popular destination for scores of democracy activists from the former British colony who took part in anti-government demonstrations in 2019 and later fled Beijing's tightening grip over the city.The flow of Hong Kong people to Taiwan increased significantly amid fears they could be arrested under the national security law Beijing imposed on Hong Kong in 2020 after the sometimes violent protests.Pelosi, 82, has drawn Beijing's ire over her criticism of the 1989 crackdown on pro-democracy protesters in and around Beijing's Tiananmen Square and authorities' treatment of China's Uyghur Muslim ethic group.Just two years after Chinese troops opened fire on Tiananmen demonstrators, Pelosi visited the square and unfurled a banner commemorating those who died. Uniformed police pursued Pelosi and her team as they left the square.Beijing sees official visits by senior foreign officials to the self-governing island as a sign of tacit support for the island's pro-independence camp.Taiwan President Tsai Ing-wen rejects Chinese sovereignty claims and says Taiwan is already an independent country called the Republic of China, its official name.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu in Taipei; Editing by Anne Marie Roantree and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.",Bookstore owner to ask Pelosi to help Hong Kongers at Taipei meeting.
"A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryKazakhstan says preferred oil price is $60-$80/barrelOPEC faces output problems to meet existing targetsU.S. seeking higher OPEC production to counter RussiaLONDON, Aug 3 (Reuters) - OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels to the market while most members have already exhausted their output potential.""We have always said that the preferred price corridor is $60-80 per barrel. Today the price is $100. So we might have to raise output to avoid overheating,"" Kazakh energy minister Bolat Akchulakov told reporters.The market has been largely expecting OPEC+ to keep output steady or opt for a slight increase.Register now for FREE unlimited access to Reuters.comThe United States has put OPEC leaders Saudi Arabia and United Arab Emirates under pressure to pump more oil to help rein in prices boosted by rebounding demand and Moscow's invasion of Ukraine.U.S. and Western sanctions on Russia have caused prices of all types of energy to soar, resulting in inflation at multi-decade highs and central bank interest rate hikes.OPEC has been increasing output in line with its targets by about 430,000-650,000 barrels per day a month in recent months and has refused to switch to bigger output increases.Group sources have cited a lack of spare capacity among members to add more barrels as well as the need for further cooperation with Russia as part of the wider OPEC+ group.""It seems unlikely OPEC+ will do anything when it meets later today,"" said Callum Macpherson from Investec, citing rising concerns about a slowing global economy and a lack of spare capacity.""OPEC+ is struggling to meet the levels its production limits have now been raised to,"" he said, adding that a surprise decision to raise production would put oil under further pressure to fall below $100 per barrel.The meeting on Wednesday will discuss production policies from September and possibly onwards.By September, OPEC+ was meant to have wound down all of the record production cuts it implemented in 2020 after the pandemic slashed demand.By June, however, OPEC+ was almost 3 million barrels per day below its quotas as sanctions on some members and low investment by others crippled its ability to boost output. read more Only Saudi Arabia and the UAE are believed to have some spare capacity left to increase production.French President Emmanuel Macron has said he had been told that Saudi Arabia and the UAE had very limited ability to increase oil production. read more Register now for FREE unlimited access to Reuters.comReporting by OPEC Newsroom; editing by Robert Birsel and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.","OPEC+ might have to raise oil output so market doesn't overheat, Kazakhstan says."
"A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryKazakhstan says preferred oil price is $60-$80/barrelOPEC faces output problems to meet existing targetsU.S. seeking higher OPEC production to counter RussiaLONDON, Aug 3 (Reuters) - OPEC+ might have to raise oil production to avoid market overheating, OPEC+ member Kazakhstan said on Wednesday, as the group of oil producers meets amid U.S. pressure to add barrels to the market while most members have already exhausted their output potential.""We have always said that the preferred price corridor is $60-80 per barrel. Today the price is $100. So we might have to raise output to avoid overheating,"" Kazakh energy minister Bolat Akchulakov told reporters.The market has been largely expecting OPEC+ to keep output steady or opt for a slight increase.Register now for FREE unlimited access to Reuters.comThe United States has put OPEC leaders Saudi Arabia and United Arab Emirates under pressure to pump more oil to help rein in prices boosted by rebounding demand and Moscow's invasion of Ukraine.U.S. and Western sanctions on Russia have caused prices of all types of energy to soar, resulting in inflation at multi-decade highs and central bank interest rate hikes.OPEC has been increasing output in line with its targets by about 430,000-650,000 barrels per day a month in recent months and has refused to switch to bigger output increases.Group sources have cited a lack of spare capacity among members to add more barrels as well as the need for further cooperation with Russia as part of the wider OPEC+ group.""It seems unlikely OPEC+ will do anything when it meets later today,"" said Callum Macpherson from Investec, citing rising concerns about a slowing global economy and a lack of spare capacity.""OPEC+ is struggling to meet the levels its production limits have now been raised to,"" he said, adding that a surprise decision to raise production would put oil under further pressure to fall below $100 per barrel.The meeting on Wednesday will discuss production policies from September and possibly onwards.By September, OPEC+ was meant to have wound down all of the record production cuts it implemented in 2020 after the pandemic slashed demand.By June, however, OPEC+ was almost 3 million barrels per day below its quotas as sanctions on some members and low investment by others crippled its ability to boost output. read more Only Saudi Arabia and the UAE are believed to have some spare capacity left to increase production.French President Emmanuel Macron has said he had been told that Saudi Arabia and the UAE had very limited ability to increase oil production. read more Register now for FREE unlimited access to Reuters.comReporting by OPEC Newsroom; editing by Robert Birsel and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.","OPEC+ might have to raise oil output so market doesn't overheat, Kazakhstan says."
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - China furiously condemned the highest-level U.S. visit to Taiwan in 25 years as House of Representatives Speaker Nancy Pelosi hailed the self-ruled island as ""one of the freest societies in the world"" and pledged American solidarity.Beijing demonstrated its anger with Pelosi's presence on an island that it says is part of China with a burst of military activity in surrounding waters, summoning the U.S. ambassador in Beijing and halting several agricultural imports from Taiwan.Some of China's planned military exercises will take place within Taiwan's 12 nautical mile sea and air territory, according to Taiwan's defence ministry, an unprecedented move a senior defence official described to reporters as ""amounting to a sea and air blockade of Taiwan"".Register now for FREE unlimited access to Reuters.comPelosi arrived with a congressional delegation on an unannounced visit late on Tuesday, defying China's repeated warnings, in what she said shows unwavering U.S. commitment to Taiwan's democracy.""Our delegation came to Taiwan to make unequivocally clear that we will not abandon Taiwan,” Pelosi told Taiwan President Tsai Ing-wen. read more “Now, more than ever, America’s solidarity with Taiwan is crucial, and that’s the message we are bringing here, today.”Addressing parliament, Pelosi said new U.S. legislation aimed at strengthening the American chip industry to compete with China ""offers greater opportunity for U.S.-Taiwan economic cooperation.""""We thank you for your leadership. We want the world to recognise that,"" Pelosi told Tsai, who Beijing suspects of pushing for formal independence - a red line for China.A long-time China critic, especially on human rights, Pelosi was set to meet later on Wednesday with a former Tiananmen activist, a Hong Kong bookseller who had been detained by China and a Taiwanese activist recently released by China, people familiar with the matter said.The last U.S. house speaker to go to Taiwan was Newt Gingrich, in 1997. But Pelosi's visit comes amid sharply deteriorating Sino-U.S. relations, and China has emerged as a far more powerful economic, military and geopolitical force during the past quarter century.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.In retaliation, China's customs department announced a suspension of imports of citrus fruits, chilled white striped hairtail and frozen horse mackerel from Taiwan, while its commerce ministry banned export of natural sand to Taiwan.MILITARY DRILLSU.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Pelosi's visit, which has been blasted in official Chinese news outlets, was the dominant topic on China's heavily censored social media, with many users urging Beijing to invade the island in retaliation and expressing dismay that military action had not been taken to block her arrival. A live-tracker of her plane on China's WeChat was watched by 22 million.China's Twitter-like Weibo platform crashed just before Pelosi's landing, which Weibo blamed on overstretched broadband capacity, without mentioning Taiwan.Shortly after Pelosi's arrival, China's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of the island, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Before Pelosi's arrival, Chinese warplanes buzzed the line dividing the Taiwan Strait. The Chinese military said it was on high alert and will launch ""targeted military operations"" in response to Pelosi's visit.White House national security spokesperson John Kirby said on Tuesday after Pelosi's arrival that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.Kirby said China might engage in ""economic coercion"" toward Taiwan, adding that the impact on U.S.-China relations will depend on Beijing's actions in coming days and weeks.'CHINA'S AMBITION'The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Taiwan's cabinet on Wednesday said the military has increased its alertness level. The island's defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills in the surrounding waters.""The so-called drill areas are falling within the busiest international channels in the Indo-Pacific region,"" a senior Taiwan official familiar with its security planning told Reuters on Wednesday.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" the person said.(This story corrects spelling of Tiananmen in 12th paragraph; this error also occurred earlier in the series)Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Writing by Tony Munroe; Editing by Simon Cameron-Moore and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Pelosi pledges solidarity with Taiwan as China holds military drills, vents anger."
"U.S. House of Representatives Speaker Nancy Pelosi walks as she leaves the parliament in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 3 (Reuters) - The sight of the U.S. House of Representatives Speaker Nancy Pelosi arriving in Taiwan late on Tuesday was too much to bear for many mainland China internet users, who wanted a more muscular response from their government.""Going to bed yesterday night, I was so angry I could not sleep,"" blogger Xiaoyuantoutiao wrote on Wednesday.""But what angers me is not the online clamours for 'starting a fight', 'spare the island but not its people'...(but that) this old she-devil, she actually dares to come!""Register now for FREE unlimited access to Reuters.comChina considers Taiwan part of its territory and has never renounced the use of force to bring the island under its control. But Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Hashtags related to Pelosi's visit, such as ""the resolve to realise national reunification is rock solid"", went viral on China's Weibo microblogging platform. By Wednesday, about a dozen of these patriotic hashtags had racked up several billion views.Some bloggers even regarded Pelosi's temerity as justification for an immediate invasion of Taiwan, with many users posting the term ""there is only one China"".Others said China's military should have done more to stop her plane from landing, and thousands of users mocked a viral Weibo post published by an official People's Liberation Army account last week that had simply read ""prepare for war!"".""In the future if you are not preparing to strike, don't make these statements to deceive the common people,"" said one user.The highest level U.S. visit to Taiwan in 25 years has been furiously condemned by China, which has demonstrated its anger with a burst of military activity in the surrounding waters, and by summoning the U.S. ambassador in Beijing, and announcing the suspension of several agricultural imports from Taiwan. read more Countering U.S. support for Taiwan is one of Beijing's most important foreign policy issues, and state-controlled Chinese media has helped ensure public opinion firmly backs Beijing's stance.A livestream tracking the journey of Pelosi's plane to Taipei by Chinese state media on China's dominant chat app WeChat was watched by 22 million users on Tuesday.But Weibo crashed before her plane landed, leaving users in the dark for about 30 minutes to an hour before and after Pelosi stepped onto the airport tarmac.Without mentioning events in Taiwan, Weibo said on Wednesday the platform crashed because its broadband capacity was overstretched.But the level of outrage on Weibo still hit fever pitch, with irate netizens calling for stronger military and economic countermeasures against Taiwan and the United States far outnumbering voices of moderation.Still, there were people urging long-term patience in the face of mounting domestic challenges and unfavourable global sentiment towards China, as well as some for peace.""If there really is a war, China will endure the suffering, currently the world powers have not really chosen team China, we would not get any help. Just like Russia, it would be a bit of a lonely war,"" wrote one user.Weibo, which censored calls for peace and criticism of Russia following the outbreak of the war in Ukraine, did not promote hashtags that criticised the outburst of nationalist fervour in response to Pelosi's visit.Qin Quanyao, a Beijing-based blogger, wrote an essay on Tuesday on WeChat in which he noted the current online jingoism harked back to the time of late Chairman Mao Zedong, when primary school children sang songs about the ""liberation"" of Taiwan.""From Weibo, WeChat to various online platforms, the atmosphere suddenly became tense, seemingly returning to the era of 'we must liberate Taiwan' when we were children,"" he wrote.Register now for FREE unlimited access to Reuters.comReporting by Eduardo Baptista, Editing by Brenda Goh & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Patriotic fervour erupts on Chinese social media over Pelosi's Taiwan visit.
"Conservative leadership candidate Rishi Sunak speaks during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 3 (Reuters) - Former British finance minister Rishi Sunak said it was still ""early days"" in the leadership contest to replace Prime Minister Boris Johnson, a day after an opinion poll showed him trailing rival Liz Truss by 34 points.The ruling Conservative Party is choosing a new leader after Johnson was forced to announce his resignation when ministers resigned en masse from his government citing a series of scandals and missteps over the last 12 months.Sunak, whose resignation helped trigger Johnson's downfall, and Foreign Secretary Truss are the two remaining candidates in the contest. The party's members will vote by postal ballot over the next few weeks with a winner announced on Sept. 5.Register now for FREE unlimited access to Reuters.com""It's still early days and I'm looking forward to meeting many more of you in the coming weeks,"" Sunak said in a tweet ahead of campaigning among members of the ruling Conservative Party later on Wednesday.The winner of the party leadership contest will inherit a parliamentary majority and therefore become prime minister.On Tuesday an opinion poll showed Foreign Secretary Truss held a 34 point lead over Sunak among Conservative Party members, with 86% telling pollster YouGov they had decided how they would vote.Truss suffered the first major misstep of her campaign on Tuesday when she was forced to backtrack on one of her most striking pledges a day after announcing it following a backlash from fellow Conservatives and opposition parties. read more Truss had set out plans to save billions of pounds a year in government spending in a pledge opponents said would require cutting the pay of public sector workers, including nurses and teachers, outside of the wealthy southeast of England.Sunak has struggled in the race, partly due to his role in Johnson's resignation and over his record in government.As finance minister, Sunak implemented tax increases to pay for government support offered during the COVID-19 pandemic and to help Britons subsidise soaring energy bills. That has drawn criticism from many activists in the historically low-tax party.Sunak has pledged to cut taxes over time to avoid stoking inflation, but Truss has said she would act immediately to lower the tax burden.Register now for FREE unlimited access to Reuters.comReporting by William James; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.","""It's still early days"" says underdog UK leadership candidate Sunak."
"China and U.S. flags are seen printed on paper in this illustration taken January 27, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesAny US export block may affect global chip supply -analystsMove would hinder Samsung, SK Hynix upgrading China plantsSamsung, SK Hynix together supply over 50% of global NAND chipsCurbs could change where future chip plants are built -analystSEOUL, Aug 3 (Reuters) - Export restrictions being considered by Washington to halt China's advances in semiconductor manufacturing could come at a substantial cost, experts say, potentially disrupting fragile global chip supply chains - and hurting U.S. businesses.Reuters reported on Monday that the United States is considering limiting shipments of American chipmaking equipment to memory chip producers in China that make advanced semiconductors used in everything from smartphones to data centres. read more The curbs would stop chipmakers like South Korean giants Samsung Electronics (005930.KS) and SK Hynix (000660.KS) from shipping new technology tools to factories they operate in China, preventing them from upgrading plants that serve customers around the world.Register now for FREE unlimited access to Reuters.comSamsung and SK Hynix, which control more than half of the global NAND flash memory chip market, have invested heavily in China in recent decades to produce chips that are vital to customers including tech giants Apple (AAPL.O), Amazon (AMZN.O), Facebook owner Meta (META.O) and Google (GOOGL.O). As well as computers and phones, the chips are used in products like electric vehicles that require digital data storage.""Samsung's China production alone accounts for more than 15% of global NAND flash production ... If there's any production disruption, it will make chip prices surge,"" said Lee Min-hee, analyst at BNK Securities.The potential for fresh turmoil - the curbs have yet to be approved - comes just as a global chip supply shortage that has disrupted businesses from autos to consumer devices for more than a year is finally showing signs of easing. Supply chain adjustments and weakening consumer demand amid the slowing global economy have combined to repair damage. read more But the shortage has yet to be fully resolved. Any signs of fresh disruption could rekindle supply uncertainty, triggering a price surge - as seen earlier this year when China imposed COVID-19 restrictions in Xian where Samsung manufactures chips. read more Chipmaking equipment has to be installed and fully tested months before production is due to start. Any delay in shipping the gear to China would pose a real challenge to chipmakers as they seek to manufacture more advanced chips in China facilities.""Many U.S. companies, like Apple, use Samsung and SK Hynix memory chips. No matter what strategy (the South Korean firms) end up choosing, it will have global implications,"" said BNK Securities analyst Lee.Samsung and SK Hynix declined to comment. Apple, Amazon, Meta and Google didn't respond to emails seeking comment outside regular U.S. business hours.AMBITIONS, COMPLICATIONSIn Samsung's memory chip operation in Xian, central China, one of the largest foreign chip projects in the country, the company has invested a total of about $26 billion since it broke ground on the site in 2012, including chip production as well as testing and packaging.The tech giant makes 128-layer NAND flash products in Xian, analysts said, chips that store data in devices such as smartphones and personal computers, as well as in data centres.The facility accounts for 43% of Samsung's global NAND flash memory production capacity and 15% of the overall global output capacity, according to TrendForce late last year. read more The U.S. crackdown, if approved, could also complicate SK Hynix's ambition to expand its presence in the NAND market where it is ranked third as of first quarter behind Samsung and Japan's Kioxia Holdings, which was spun out of Toshiba Corp (6502.T).SK Hynix completed late last year the first phase of its $9 billion purchase of Intel's (INTC.O) NAND business, including its Dalian, China NAND manufacturing facility. read more CHINA STRATEGIESThe move being considered by the United States is one of several recent signs of deepening tensions between Beijing and Washington over the tech sector.Congress last week approved legislation to subsidise semiconductor production in the United States. It bars any company that receives federal subsidies from investing in certain chip technology in China during the subsidy period. read more The deepening tensions could leave Samsung and SK Hynix having to review strategies on China investments, analysts and industry sources said.""Until now, companies tended to invest in countries like China, where costs were cheap,"" said Kim Yang-jae, analyst at Daol Investment & Securities.""That's no longer going to be the only consideration. The biggest change these potential limits will bring will be where the next chip factories are built.""They could also face potentially diminishing returns from their multi-billion dollar China plants, which could be stuck making older-technology, less lucrative chips.SK Hynix has not been able to upgrade its DRAM memory chip production facilities in Wuxi, China with the latest extreme ultraviolet lithography (EUV) chipmaking machines made by Dutch firm ASML (ASML.AS) as U.S. officials do not want advanced equipment used in the process to enter the country. read more The EUV machines are used to make more advanced and smaller chips that are used in high-end devices such as smartphones.Register now for FREE unlimited access to Reuters.comReporting by Joyce Lee; Editing by Miyoung Kim and Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.","As US eyes new China chip curbs, turmoil looms for global market."
"U.S. government debt prices traded lower on Wednesday morning but investors are still monitoring geopolitical tensions between the United States and China.At around 3:40 am ET, the yield on the benchmark 10-year Treasury note moved higher to 2.7574% and the yield on the 30-year Treasury bond also rose to 3.0138%. Yields move inversely to prices.The search for safe assets eased slightly overnight, but investors are still following developments in U.S.-China relations after House Speaker Nancy Pelosi spoke with Taiwanese President Tsai Ing-wen. Her trip to Taiwan has drawn much attention, given the vocal opposition from China.On the data front, there will be Services PMIs at 9:45 a.m. ET and factory orders are due at 10 a.m. ET. Both data points will be important for investors as they track the slowdown of the U.S. economy.In terms of key speeches, Philadelphia Fed President Patrick Harker is addressing an audience at 10 a.m. ET and Richmond Fed President Tom Barkin as well at 11:45 a.m. ET.",U.S. Treasury yields move higher ahead of new economic data.
"European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 17, 2022. REUTERS/Yves HermanRegister now for FREE unlimited access to Reuters.comBRUSSELS, Aug 3 (Reuters) - The European Union called on Wednesday for tensions over U.S. House of Representatives Speaker Nancy Pelosi's visit to Taiwan to be resolved through dialogue and for communication channels with China to be kept open to avoid miscalculation.""The EU has an interest in preserving peace and the status quo in the Taiwan Strait,"" a spokesperson for the 27-nation bloc said.""We encourage a peaceful resolution of cross-strait issues. Tensions should be resolved through dialogue. Appropriate channels of communication should be maintained to reduce risks of miscalculation.""The European Commission spoksesperson said the EU had ""a clear One China Policy"", recognising the government of the People's Republic of China as the sole legal government of China while also pursuing ""friendly relations and close cooperation with Taiwan"".Register now for FREE unlimited access to Reuters.comReporting by John Chalmers; editing by Kate AbnettOur Standards: The Thomson Reuters Trust Principles.",EU urges dialogue to reduce risks amid Taiwan tension.
"People queue to buy bread outside a bakery in Beirut, Lebanon July 27, 2022. REUTERS/Mohamed AzakirRegister now for FREE unlimited access to Reuters.comBEIRUT, Aug 3 (Reuters) - The World Bank has said that assertions by Lebanese politicians that deposits kept in the country's collapsed banking sector are sacred are ""cruel"" because they ""flagrantly contradict the reality.""Lebanon is in the third year of a financial meltdown that has left eight in ten people poor and which the World Bank says is both deliberate and may be one of the three worst in modern times.""Political slogans for the sacrosanct of deposits are hollow and opportunistic; in fact, the constant abuse of this term by politicians is cruel,"" the World Bank said in a report released Tuesday.Register now for FREE unlimited access to Reuters.com""Not only does it flagrantly contradict reality, it prevents solutions to protect most, if not all small and medium depositors, in dollars and in cash,"" the report said.The report notes losses in the financial sector, estimated by the government at more than $70 billion, should have been accepted at the beginning of the crisis by bank shareholders and large creditors ""who have profited greatly over these 30 years from a very unequal economic model.""It explores whether the country's economic model since the early 1990s amounted to a Ponzi scheme, a type of investing scam which secures returns for investors with money taken from new investors.A Lebanese government spokesperson did not immediately respond to a request for comment.Register now for FREE unlimited access to Reuters.comReporting by Timour Azhari; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",World Bank accuses Lebanese politicians of cruelty over deposit promises.
"People visit the new restaurant ""Vkusno & tochka"", which opens following McDonald's Corp company's exit from the Russian market, in Moscow, Russia June 12, 2022. REUTERS/Evgenia NovozheninaRegister now for FREE unlimited access to Reuters.comSummaryThis content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 3 (Reuters) - Russia's services sector expanded in July at its fastest pace in more than a year, a business survey showed on Wednesday, as strong domestic demand outweighed slumping export orders for Russia's increasingly isolated firms.The S&P Global Purchasing Managers' Index (PMI) rose to 54.7 in July, its highest since June 2021 and up from 51.7 in June this year, pulling further clear of the 50 mark that denotes expansion.""The rate of output growth was the fastest for just over a year, with activity supported by a sharper upturn in new business,"" S&P Global said in a statement.Register now for FREE unlimited access to Reuters.com""Stronger customer demand was confined to the domestic market as new export orders fell substantially in July. The ongoing impact of sanctions reportedly dampened foreign client demand.""Russia's economy has been buffeted by Western sanctions against Moscow over its actions in Ukraine, with international business drying up as foreign clients turn away.Service providers passed higher costs on to clients and average cost burdens rose further in July.Business confidence improved, with many citing hopes of improvements in the health of the wider economy and greater client demand, and although firms stepped up their hiring activity in July, backlogs of work rose sharply.""The rate of growth in incomplete business was the sharpest since November 2003, as firms cited greater new business, challenges finalising contracts and input shortages as driving factors behind the increase,"" S&P Global said.A sister survey this week showed Russia's manufacturing sector held steady in July as the sector continues to struggle with diving exports and logistical problems in the face of Western sanctions.Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Hugh LawsonOur Standards: The Thomson Reuters Trust Principles.",Russian services sector records fastest output growth in over a year -PMI.
"A view shows bottles and cans of soft drinks at a plant of the Chernogolovka company in the town of Chernogolovka in the Moscow region, Russia July 28, 2022. REUTERS/Alexander ReshetnikovRegister now for FREE unlimited access to Reuters.comSummaryCompaniesThis content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 3 (Reuters) - As the world's biggest soft drinks makers cut their Russian ties, local producer Chernogolovka is aiming for a 50% share of the country's near $9 billion market, its boss told Reuters.A mass exodus of Western firms due to sanctions and restrictions over Russia's actions in Ukraine has created an unexpected opportunity for Russian businesses and entrepreneurs.Chernogolovka, named after the town outside Moscow where it was founded in 1998, makes snacks, bottled water, herby lemonades, energy drinks and, since May, Cola Chernogolovka.Register now for FREE unlimited access to Reuters.comThe privately-owned company is more than doubling its business this year, its CEO Natalia Sakhnina said in an interview, and expects to reach a 30% market share within two years, up from around 8.5% at the end of 2021.""We were, are and will be the main Russian producer of drinks,"" Sakhnina said. ""We hope and are working on gaining absolute leadership in the Russian market.""Revenue in Russia's non-alcoholic drinks market totals $8.8 billion, according to data provider Statista.Although fizzy drinks made by Coca-Cola (KO.N) and PepsiCo are still available in Russia, they are set to disappear over time as existing stocks are run down, leaving local manufacturers to step in.PepsiCo suspended soda production and sales in Russia in March, one of many Western consumer brands to curtail operations after Russia sent troops into Ukraine. read more Coca-Cola also suspended operations in March. In June, it said bottler Coca-Cola HBC AG (CCH.L) and its existing customers in Russia were depleting stock. read more Chernogolovka has almost doubled volume in the southern city of Krasnodar and increased capacity by 50% in Siberia's Novosibirsk so far in 2022 when compared to 2021, Sakhnina said.COLA PUSHNewly launched cola brands, including Chernogolovka's and competitor Ochakovo's CoolCola, jumped to a 5% share of sales in the category in the first half of 2022, NielsenIQ Russia said.""Our company was not present in the cola segment,"" Sakhnina said of an area that accounts for around 50% of the market.""This year we entered this segment and this coincided with international players in this flavour leaving. So if we evaluate our prospects and ambitions, they are almost limitless.""To meet the anticipated ramp up in demand, Chernogolovka is building a 40,000 square metre production plant in the town. The facility will cost over 3 billion roubles ($50 million) and its first stage is slated for completion in March 2023.Some additional demand has come from fast food outlets.Chernogolovka started supplying soft drinks to the Russian outlets of Burger King and KFC in April. It is in talks to do the same for Vkusno & tochka, the renamed chain of McDonald's restaurants that opened after the world's largest fast-food chain sold to a local licensee, Sakhnina said.Vkusno & tochka is looking for a new drinks provider, as Coca-Cola is depleting its Russia stock, Chief Executive Oleg Paroev told Reuters in June. read more ""We are currently considering options, choosing a supplier that according to taste will suit our guests the most,"" a Vkusno & tochka spokesperson said on Wednesday, when asked about any talks with Chernogolovka.Like all Russian companies, Chernogolovka faced supply headaches after Western governments and companies targeted Russia with sanctions and restrictions, Sakhnina said, adding that aluminium lids and adhesive labels were a particular issue.However, the Moscow region's government pushed for Chernogolovka's inclusion in a list of firms producing crucial goods, allowing it to tap preferential lending in April and May.Interest rates leapt to 20% in late February, and although they have since steadily decreased to 8%, Chernogolovka said it was at one point able to borrow money now being used to fund expansion at a discount of 10 percentage points.While Sakhnina did not rule out the possibility of a stock market listing, she said growth was the priority. And while acquisitions are possible, including from departing Western firms, there have been no talks to date, she said.""This is just the beginning,"" Sakhnina said. ""This market, if the competitive situation remains the same, will look completely different in a year, unrecognisable.""($1 = 60.1000 roubles)Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Matt Scuffham and Alexander SmithOur Standards: The Thomson Reuters Trust Principles.","EXCLUSIVE Russian soft drinks maker targets 50% of market to fill gap left by Coke, Pepsi."
"3D printed models of people working on computers and padlock are seen in front of a displayed Avast logo in this picture illustration taken, February 1, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Britain's competition regulator said on Wednesday it has provisionally cleared NortonLifeLock's (NLOK.O) $8.6 billion purchase of rival Avast Plc (AVST.L), the final hurdle to the two firms creating a consumer security software giant.Shares in Avast soared 42% on the news, after the firms were forced to delay the deal's closing date while awaiting regulatory approvals.Shares in U.S-listed NortonLifeLock are down about 4.6% this year having closed slightly up on Tuesday.Register now for FREE unlimited access to Reuters.comEarlier this year, the UK's Competition and Markets Authority (CMA) launched a deeper investigation into the deal, noting it could harm competition and lead to British customers getting a worse deal when looking for security software. read more The deal, which would combine NortonLifeLock's strength in identity theft protection and Avast's privacy, has already received the green light in the United States, Spain and Germany.NortonLifeLock said on Wednesday it expects to close the deal by next month.Following a more detailed Phase 2 investigation, the CMA said it had concluded that the deal does not raise competition concerns in the UK.It noted that the merged company will face significant competition from McAfee and other smaller players while software titan Microsoft Corp (MSFT.O) would be strengthened as a competitor.Founded in Prague, Czech Republic, Avast is a pioneer of ""freemium"" software, whereby basic applications are free and subscribers pay for premium features.NortonLifeLock, previously known as Symantec, was renamed after it sold its enterprise business to Broadcom in 2019.It has a larger premium business selling products to consumers to combat viruses, spyware and malware.Register now for FREE unlimited access to Reuters.comReporting by Eva Mathews in Bengaluru; editing by Sherry Jacob-Phillips and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",NortonLifeLock-Avast $8.6 bln deal wins provisional UK approval.
"The logo of Indian food delivery company Zomato is seen on its app on a mobile phone displayed in front of its company website in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/Illustration/Register now for FREE unlimited access to Reuters.comHONG KONG/NEW DELHI, Aug 3 (Reuters) - Uber Technologies (UBER.N) on Wednesday sold its 7.8% stake in Indian food delivery firm Zomato Ltd (ZOMT.NS) for $392 million via a block trade on local exchanges, two sources familiar with the matter told Reuters.The deal was executed at 50.44 rupees per share, they said. Zomato and Uber did not immediately respond to requests for comment.Shares of Zomato Ltd fell as much as 9.6% to 50.25 rupees on India's Bombay Stock Exchange (BSE). The stock cut some losses later and was trading down 5.7% by 0634 GMT. On Tuesday, Zomato's stock had closed at 55.6 rupees on BSE.Register now for FREE unlimited access to Reuters.comReuters reported on Tuesday the offer size of the block deal was set to be 612 million shares, according to its term sheet, which did not disclose the seller. read more As per Reuters calculations, the stake sale by Uber was worth 30.87 billion rupees ($392 million).Uber on Tuesday reported a net loss of $2.6 billion for second quarter of 2022, of which $1.7 billion was related to its equity investments, including its Zomato stake. read more Its stake sale comes at a time when Indian startups are struggling to raise fresh capital amid a global market slump and criticism of sky-high valuations, after a blockbuster $35 billion in total fundraisings in 2021. read more NEW BUYERSBofA Securities was the sole bookrunner for the transaction.One of the sources said the stake was bought by around 20 global and Indian funds, including Fidelity, Franklin Templeton and India's ICICI Prudential.Fidelity could not immediately be reached for comment, while Franklin and ICICI declined to comment.Zomato said on Monday it had recorded more orders and narrowed its loss for the June quarter to 1.86 billion rupees from 3.56 billion a year earlier. read more The Indian food delivery company is also considering reorganising its management so its individual businesses would each have a CEO, while the parent company would be renamed ""Eternal"". read more Backed by China's Ant Group, the company made a stellar debut on July 23, 2021 on the Mumbai stock market, but its shares have lost more than 50% of their value since then on concerns about valuations and growth amid turmoil among global growth stocks.Register now for FREE unlimited access to Reuters.comReporting by Scott Murdoch in Hong Kong and Aditya Kalra in New Delhi
Additional reporting by Chris Thomas in Bengaluru
Editing by Stephen Coates and Mark PotterOur Standards: The Thomson Reuters Trust Principles.Scott MurdochThomson ReutersScott Murdoch has been a journalist for more than two decades working for Thomson Reuters and News Corp in Australia. He has specialised in financial journalism for most of his career and covers equity and debt capital markets across Asia based in Hong Kong.",Uber sells 7.8% stake in India's Zomato for $392 million -sources.
"A company logo is pictured at the headquarters of Germany's Commerzbank AG in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesConfirms 2022 profit targetBank going through major restructuringShares down in early tradeFRANKFURT, Aug 3 (Reuters) - Germany's Commerzbank (CBKG.DE) swung on Wednesday to a bigger-than-expected second-quarter net profit, helped by higher interest rates and commission income, and confirmed it was on track to meet its profit target despite ""clouds"" on the horizon.The return to profit at Germany's No. 2 bank is a victory for CEO Manfred Knof, who joined the company at the start of 2021 to carry out a 2 billion euro restructuring programme involving hundreds of branch closures and 10,000 job cuts to get back on a sustainable path.Net profit of 470 million euros ($478.60 million) for the three months through end-June compares with a loss of 527 million euros a year earlier. Analysts had on average expected a profit of 370 million euros, according to a consensus forecast published by Commerzbank.Register now for FREE unlimited access to Reuters.comInvestors have been watching earnings reports of major lenders in Europe for signs that a weaker economy, higher interest rates and the war in Ukraine are weighing on their operations and outlooks.Some of them, including rival Deutsche Bank (DBKGn.DE), have reported surprisingly strong quarterly reports but voiced concerns about the economic outlook. read more Germany's banks are at the centre of a geopolitical storm because the country is particularly dependent on Russian energy and its economy will be hit hard by any supply shortages.CEO Knof spoke of ""bright spots and clouds"" in a call with analysts.""The most difficult and pressing question is about natural gas supply and GDP development,"" he said, referring to gross domestic product.The shares nevertheless fell 3.5% in early trade.The bank said that it took charges of 228 million euros in the quarter related to the war in Ukraine, and that it had on hand 564 million euros for any further war-related effects or impact from energy supply disruptions.Commerzbank reiterated that it would maintain its profit target of more than 1 billion euros for the full year, though it slightly raised its cost target to 6.4 billion euros from 6.3 billion euros.During the same period last year, the German lender generated a loss due to its restructuring and after a write-off to end an outsourcing project. read more Niklas Kammer, an analyst with Morningstar, said ahead of the earnings that profitability ""remains challenging"" for Commerzbank.""The competitive German banking market leaves little opportunity for Commerzbank to significantly out-earn its cost of equity,"" he said.Analysts at Deutsche Bank said the earnings were good overall but noted the macroeconomic environment ""still matters a lot"".($1 = 0.9820 euros)Register now for FREE unlimited access to Reuters.comReporting by Tom Sims and Marta Orosz; editing by Muralikumar Anantharaman and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.Tom SimsThomson ReutersCovers German finance with a focus on big banks, insurance companies, regulation and financial crime, previous experience at the Wall Street Journal and New York Times in Europe and Asia.",Commerzbank sees energy and growth 'clouds' after Q2 profit beat.
"Aug 2 (Reuters) - Candidates backed by Donald Trump prevailed in multiple Republican primaries on Tuesday, while a statewide ballot initiative in Kansas that would have allowed new restrictions on abortion was soundly rejected.The results showed that the former president, and his false claims that the 2020 election was tainted by fraud, still hold sway over Republican voters. They alsosuggested that anger over the Supreme Court's June decision to end the nationwide constitutional right to abortion could fire up Democrats ahead of the November midterm elections.In Michigan, Tudor Dixon, a conservative commentator who has echoed Trump's election claims, won the Republican nomination for governor and will face Democratic Governor Gretchen Whitmer in one of the most high-profile races this November, which will also revolve around abortion rights.Register now for FREE unlimited access to Reuters.comKansas Attorney General Derek Schmidt, endorsed by Trump, secured the Republican nomination for governor. He will face Democratic Governor Laura Kelly in November in what is expected to be a highly competitive race.With 95% of the estimated vote counted, just under 60% of Kansas voters had cast ballots in support of the state constitution's abortion protections, a resounding victory for abortion rights advocates in a strongly conservative state. read more Unlike the Republican gubernatorial primaries, Kansas' abortion initiative reflected the choices of voters of both major political parties, as well as independents.TEST OF TRUMP INFLUENCETuesday's elections, including key contests in Arizona and Washington state, represent the latest test of Trump's sway over the Republican electorate. Several Trump-backed candidates have embraced the former president's falsehoods about voter fraud, raising concerns among some Republicans that they could be too extreme to defeat Democrats on Nov. 8. read more In Michigan, U.S. Representative Peter Meijer, one of only 10 House Republicans who voted to impeach Trump following the Jan. 6, 2021, U.S. Capitol attack by Trump supporters, lost to far-right challenger John Gibbs.Gibbs, backed by Trump, was the beneficiary of Democratic advertising during the Republican primary, part of a risky strategy of trying to elevate more vulnerable Republican candidates in swing districts even as party leaders warn they pose a danger to democracy. read more Another Republican who voted to impeach Trump, Jamie Herrera Beutler of Washington, also faced a Trump-endorsed primary challenger on Tuesday night.With an economy teetering on the brink of recession and inflation surging, just 38% of Americans approve of President Joe Biden's job performance, according to a Reuters/Ipsos poll completed on Tuesday - still near Biden's record low of 36%, hit in May. One in three voters said the biggest problem facing the United States today is the economy.Biden's unpopularity is weighing on Democrats heading into November general election, when Republicans are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.As he flirts publicly with the possibility of running for president again in 2024, Trump has endorsed more than 200 candidates. Most are safe bets - incumbent Republicans in conservative districts - but even in competitive races most of his candidates have prevailed.""Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image,"" said Alex Conant, a Republican strategist. ""Republicans who run against Trump tend to get trampled.""On Tuesday, Arizona voters were picking between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump's false claims that his 2020 election defeat was the result of fraud and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.Arizona Secretary of State Katie Hobbs, who built a national profile by vociferously denying Trump's allegations, easily won the Democratic gubernatorial nomination, Edison Research projected.The race to replace her as the state's top election official also includes a Trump-endorsed candidate, state Representative Mark Finchem, who was present at Trump's Jan. 6, 2021, speech in Washington that preceded the U.S. Capitol attack. He wrote on Twitter on Thursday, ""Trump won,"" prompting a Democratic candidate, Adrian Fontes, to call him a ""traitor.""Arizona Republicans were also picking a challenger to take on Democratic U.S. Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents.Blake Masters, a former tech executive who has backed Trump's false fraud claims, has Trump's endorsement and the backing of tech billionaire Peter Thiel. He is leading in polls against Jim Lamon, a former power company executive, and Attorney General Mark Brnovich, whom Trump blames for not reversing Biden's 2020 statewide victory.In Missouri, Attorney General Eric Schmitt won the Republican nomination for U.S. Senate, boosting his party's chances of holding the seat after scandal-hit former Governor Eric Greitens finished well behind.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Richard Cowan and Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Editing by Scott Malone, Alistair Bell, Ross Colvin and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.","Trump-backed candidates prevail, while Kansas votes to preserve abortion rights."
"Sri Lanka's President Ranil Wickremesinghe arrives to inaugurate a new session of parliament and deliver his first policy statement, amid the country's economic crisis, in Colombo, Sri Lanka August 3, 2022. REUTERS/ Dinuka LiyanawatteRegister now for FREE unlimited access to Reuters.comCOLOMBO, Aug 3 (Reuters) - Sri Lanka will restart bailout talks with the International Monetary Fund (IMF) in August, its new president said on Wednesday, while calling on lawmakers to form an all-party government to resolve a crippling economic crisis.In a speech in parliament, President Ranil Wickremesinghe said that constitutional amendments were required to curtail presidential powers - indicating he would meet a key demand of protesters who forced out his predecessor, Gotabaya Rajapaksa.""The president of a country does not have to be a king or a god who is exalted above the people. He or she is one of the citizens,"" Wickremesinghe said.Register now for FREE unlimited access to Reuters.comThe island nation of 22 million people is facing its worst financial crisis since independence from Britain in 1948 with its foreign exchange reserves at record lows, and the economy battered by the COVID-19 pandemic and a steep fall in government revenue.Angered by persistent shortages of essentials, including fuel and medicines, and sky-rocketing inflation of over 60 percent year-on-year, hundreds of thousands of people took to the streets in early July, forcing Rajapaksa to first flee the country and then quit office.Wickremesinghe, who was then prime minister, took over as acting president and was later confirmed in the job by parliament.Discussions with the IMF for a four-year programme that could provide up to $3 billion would resume in August, Wickremesinghe told lawmakers in his first major address to parliament since taking over.The government is working with its financial and legal advisers Lazard and Clifford Chance to finalise a plan to restructure overseas debt, including about $12 billion owed to bondholders.""We would submit this plan to the International Monetary Fund in the near future, and negotiate with the countries who provided loan assistance,"" Wickremesinghe said.""Subsequently negotiations with private creditors would also begin to arrive at a consensus.""A veteran lawmaker whose party only held one seat in parliament, Wickremesinghe won a leadership vote in the 225-member house last month with the support of the country's ruling party that is dominated by the Rajapaksa family. read more But the new president reiterated his call for a unity government, adding that he had already initiated discussions with some groups.""I respectfully extend the hand of friendship to all of you. I confidently invite you to put aside the past and come together for the sake of the country,"" Wickremesinghe said.Opposition lawmaker Harsha de Silva backed the president's proposal.""We must come together; specifically an all or multi party government for a limited period of time to work towards creating this new #SriLanka on a common minimum program,"" he said in a tweet.With an interim budget likely to be presented within weeks, Wickremesinghe said his government was working on a long-term economic plan. This would include bringing down public debt from its current level of 140 percent of Sri Lanka's GDP to less than 100% within 10 years and creating a budget surplus by 2025.He did not give any details.Wickremesinghe, who has been accused by activists and rights groups of cracking down on anti-government protesters, said peaceful struggle was a fundamental right but he would not tolerate violence.""I will not allow anyone to act outside the law,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Uditha Jayasinge; Writing by Devjyot Ghoshal; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","Sri Lanka to restart IMF bailout talks, president calls for unity government."
"Workers package tiffin carriers inside a factory in Dhaka, Bangladesh, August 2, 2022. REUTERS/Mohammad Ponir HossainRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Bangladesh is seeking $2 billion from the World Bank and the Asian Development Bank (ADB) amid efforts to bolster its foreign exchange reserves, Bloomberg News reported on Wednesday.Bangladesh's $416 billion economy has been one of the fastest-growing in the world for years, but rising energy and food prices because of the Russia-Ukraine war have inflated its import bill and the current account deficit.The government wrote letters to the two lenders seeking $1 billion each, the report said, citing people familiar with the matter. (https://bloom.bg/3oQEyPO)Register now for FREE unlimited access to Reuters.comThis comes days after Bangladesh's Daily Star newspaper reported that the country wanted $4.5 billion from the International Monetary Fund (IMF), including for budgetary and balance-of-payment support. read more Last week, IMF said it would discuss with Bangladesh its loan request. read more The country's finance ministry, World Bank and ADB did not immediately respond to Reuters requests for comment.Bangladesh's July to May current account deficit was $17.2 billion, compared with a deficit of $2.78 billion in the year-earlier period, according to central bank data, as its trade deficit widened and remittances fell.Register now for FREE unlimited access to Reuters.comReporting by Gokul Pisharody in Bengaluru; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.","Bangladesh seeking $2 Billion from World Bank, ADB - Bloomberg News."
"Tod's Chairman Diego Della Valle poses at the end of an interview a day before the presentation of the Colosseum dungeons which have been restored in a multi-million euro project sponsored by the fashion group in Rome, Italy, June 24 2021. Picture taken June 24 2021. REUTERS/Remo CasilliRegister now for FREE unlimited access to Reuters.comMILAN, Aug 3 (Reuters) - The founding family and largest shareholder inItalian luxury shoe maker Tod's (TOD.MI) is set to launch a takeover offer to delist the company from the Milan stock exchange, the holding company of the Della Valle brothers said on Wednesday.Diego Della Valle, who also acts as chief executive and chairman at the company, and his brother, Andrea Della Valle, are set to launch a takeover bid at 40 euros per share. The stock closed at 33.42 euros on Tuesday.Tod's, famous for its Gommino loafers, launched a strategy in late 2017 to revamp its brands and lure younger consumers, but the coronavirus pandemic hampered its efforts.Register now for FREE unlimited access to Reuters.comGroup sales bounced back by almost 40% last year, increasing after five years of consecutive declines.""The objective is to enhance the value of the group's individual brands, giving them strong individual visibility and operational autonomy,"" they said in the statement.""Through this strategy, we intend to strengthen the positioning of the brands at the top of the quality and luxury market, with a high level of desirability.""The Della Valle brothers, who directly and indirectly hold a 64.45% stake in Tod's, will launch the bid on 25.55% of the company's shares through their joint holding company DeVa Finance S.r.l.The remaining 10% is held by Delphine SAS, part of the LVMH Group (LVMH.PA).Delphine has struck an accord with the brothers, under which it will not tender its stake in the offer and will remain a shareholder in the delisted group with the same holding.BNP Paribas, Crédit Agricole Corporate Investment Bank and Deutsche are acting as financial advisers and BonelliErede as legal consultant.Register now for FREE unlimited access to Reuters.comReporting by Agnieszka Flak; editing by Cristina Carlevaro and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",Tod's founding family to launch bid to delist shoe maker.
"A BMW iX Flow with color-shifting material is displayed during CES 2022 at the Las Vegas Convention Center in Las Vegas, Nevada, U.S. January 6, 2022. REUTERS/Steve MarcusRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 3 (Reuters) - BMW (BMWG.DE) warned on Wednesday of a highly volatile second half as challenges from inflation and gas shortage fears to ongoing supply chain bottlenecks weighed on demand, with higher pricing only partially offsetting lower output.The premium carmaker stuck to its outlook of 7-9% for the automotive margin and expects a solid sales increase in the second half but said total deliveries will not reach last year's record highs of 2.52 million across the group.Tightening sanctions on Russia, interruption of gas supply or the possibility of the war in Ukraine spreading were not factored into its forecast, it added.Register now for FREE unlimited access to Reuters.com""BMW is the first manufacturer to signal caution on the demand front,"" analyst Daniel Roeska of Bernstein Research said in a note on Wednesday. ""A warning for year-end 2022 likely implies that BMW is already seeing weakening consumer demand today.""A survey by Germany's Ifo institute on Wednesday showed German carmakers' business situation beginning to deteriorate in July, with order backlogs shrinking and price expectations plummeting.The Munich-based carmaker struck a more negative tone in its outlook than competitor Mercedes-Benz (MBGn.DE), which last week raised its earnings outlook for the year as profits and revenues grew in the second quarter despite falling unit sales. read more BMW's earnings were down 31% in the second quarter to 3.4 billion euros ($3.46 billion) despite growing revenues, still beating a 3.13 billion euro forecast in a Refinitiv poll of eight analysts.The consolidation of its China joint venture BMW Brilliance Automotive pushed up revenues in the first half but dampened second quarter earnings, BMW said, reporting an automotive margin of 8.2%, down from last year's 15.8%.Overall, the reevaluation of the Chinese joint venture shares boosted earnings before tax by 7.7 billion euros in the first half.BMW increased its stake in its joint venture with Brilliance Auto Group to 75% from 50% in February after securing the necessary license from Beijing to take majority control.It said at the time the deal would have a positive effect of 7-8 billion euros on the financial results of the automotive business. read more ($1 = 0.9825 euros)Register now for FREE unlimited access to Reuters.comReporting by Victoria Waldersee
Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",BMW sees full-year drop in output amid volatile second half.
"U.S. House of Representatives Speaker Nancy Pelosi speaks next to Taiwan President Tsai Ing-wen, Vice President William Lai and American Institute in Taiwan (AIT) Director Sandra Oudkirk during a meeting at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Russian Foreign Minister Lavrov said on Wednesday that a visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi was a deliberate attempt by Washington to irritate China.""I see no other reason to create such an annoyance almost out of the blue, knowing very well what it means for the People's Republic of China,"" Lavrov said on a visit to Myanmar.Pelosi's arrival on Tuesday in Taiwan, which China considers a breakaway province, prompted a furious response from Beijing at a time when international tensions are already elevated by the conflict in Ukraine.Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.",Russia's Lavrov: Pelosi visit to Taiwan creates 'annoyance'.
"Voter mark their ballots during the primary election and abortion referendum at a Wyandotte County polling station in Kansas City, Kansas, U.S. August 2, 2022. REUTERS/Eric CoxRegister now for FREE unlimited access to Reuters.comAug 3 (Reuters) - Voters in Arizona, Michigan, Kansas, Missouri and Washington were choosing candidates for U.S. Congress, governor and other offices as former President Donald Trump's effort to maintain dominance over the Republican Party was tested anew.Here are the key primary races to watch:MICHIGAN'S 3RD CONGRESSIONAL DISTRICTFormer Trump administration official John Gibbs defeated incumbent U.S. Representative Peter Meijer for the Republican nomination. Meijer was one of 10 House of Representative Republicans to vote for Trump's second impeachment.Register now for FREE unlimited access to Reuters.comGibbs won with Trump's backing and will face Democrat Hillary Scholten in the November general election.Meijer, a moderate, was seeking a second term in a district that Democrats see as a potential pickup. The campaign arm for House Democrats angered some supporters by running ads to promote Gibbs, who is seen as an easier target in November.ARIZONA GOVERNORArizona Secretary of State Katie Hobbs, who built a national profile by vociferously denying Trump's voter fraud allegations, easily defeated Marco Lopez, a former Obama administration official and former mayor of Nogales, in the Democratic primary race for governor.On the Republican side, contenders include former news anchor Kari Lake, who is endorsed by Trump and has echoed his false claims that the 2020 election was fraudulent. Her main rival is developer Karrin Taylor Robson, who is backed by several establishment Republicans including Trump's former vice president, Mike Pence, and Arizona Governor Doug Ducey.KANSAS ABORTION VOTEVoters in Kansas went on record overwhelmingly supporting the state constitution's protection of abortion rights, according to projections by Edison Research.The defeat of a proposed constitutional amendment declaring that there is no such right marked the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.Had anti-abortion forces prevailed, the ballot question would have reversed a 2019 state Supreme Court ruling that established the right to abortion in Kansas.MISSOURI U.S. SENATERepublican Missouri Attorney General Eric Schmitt won the state party's nomination to run for U.S. Senate, defeating Eric Greitens, the former governor who resigned in disgrace after sexual assault and campaign finance fraud scandals.Schmitt's victory was a relief to many establishment Republicans who feared they might lose the seat if Greitens were nominated to replace retiring Republican Senator Roy Blunt.U.S. Representative Vicky Hartzler also had been vying for her party's nomination.One day before the vote, Trump said in a statement that he supported ""Eric,"" refusing to say whether he was endorsing Greitens or Schmitt.MICHIGAN GOVERNORTudor Dixon, a former steel industry businesswoman and conservative commentator who was endorsed by Trump and has echoed the ex-president's false election fraud allegations, prevailed over a field of Republican primary candidates for governor in Michigan, Edison Research projected.Dixon will now take on Democratic Governor Gretchen Whitmer, whose aggressive approach to closing down businesses during the COVID-19 pandemic has made her a top target for conservatives.The chaotic Republican primary saw several candidates disqualified after a scandal involving falsified signatures on petitions to get on the ballot. In June, the FBI arrested candidate Ryan Kelley, a real estate broker, on misdemeanor charges stemming from the U.S. Capitol attack, though he continued to campaign.KANSAS GOVERNORKansas Attorney General Derek Schmidt, who had Trump's endorsement, defeated an under-funded opponent in the Republican contest. He will challenge incumbent Democratic Governor Laura Kelly, who is among the most vulnerable Democratic governors, in November.ARIZONA U.S. SENATEA bitter fight to decide who will challenge incumbent Democratic Senator Mark Kelly in November has come down to three Republican candidates. Blake Masters, chief operating officer of Thiel Capital and president of the Thiel Foundation, has the financial backing of tech billionaire Peter Thiel and Trump's endorsement. Recent polling shows him leading state attorney general Mark Brnovich and Jim Lamon, a former power company executive.ARIZONA SECRETARY OF STATEOn the Republican side, the front-runner is Trump-endorsed state Representative Mark Finchem, who was present at the Jan. 6, 2021, rally that preceded the attack on the U.S. Capitol and has embraced Trump's stolen election claims. He faces several opponents. The Democratic contest pits former Maricopa County Recorder Adrian Fontes against state House of Representatives Minority Leader Reginald Bolding.WASHINGTON STATE'S 3RD CONGRESSIONAL DISTRICTRepresentative Jaime Herrera Beutler, one of 10 Republicans to vote for Trump's impeachment in 2021, is facing a primary challenge from Joe Kent, a former Green Beret officer who has been endorsed by Trump. Herrera Beutler has held the seat since 2010.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, Moira Warburton, Gabriella Borter and Richard Cowan, Editing by Ross Colvin, Alistair Bell and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.","Factbox: Key races in Arizona, Michigan, Kansas, Missouri and Washington midterm primary elections."
"U.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comHONG KONG, Aug 3 (Reuters) - As China embarks on an unprecedented six days of military drills surrounding Taiwan, security analysts are warning of mounting risks of escalation even if Beijing seeks to avoid its protests over Nancy Pelosi's visit from sparking full blown conflict.China announced drills in six locations surrounding Taiwan soon after House Speaker Pelosi - a veteran China critic and the third most senior U.S. politician - landed in Taipei on Tuesday night. read more Taiwan officials said the live fire drills violate United Nations rules, invade Taiwan's territorial space and are a direct challenge to free air and sea navigation. read more Register now for FREE unlimited access to Reuters.comChina's Eastern Theatre Command said a multi-force exercise involving the Navy, Air Force, Rocket Force, Strategic Support Force and Joint Logistics Support Force, took place in the air and sea to the north, southwest and southeast of Taiwan on Wednesday.Chinese military practiced operations including seal and control, assault at sea and strike on land.Analysts spoken to by Reuters say it remains unclear if China will fire cruise or ballistic missiles directly over the island, or attempt a blockade for the first time.Song Zhongping, a Hong Kong-based military commentator, said it appeared the People's Liberation Army wanted to practise blockading the island if it had to in a later war.""The goal of these exercises, to put it bluntly, is to prepare for the military fight with Taiwan.""Unusually, the drills were announced with a locator map circulated by the official Xinhua news agency - a factor that for some analysts and scholars shows the need to play to both domestic and foreign audiences.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" said a senior Taiwanese official familiar with its security planning.If China got what it wanted, the official said, the impact would ""be fatal for the safety and stability of regional countries, as well as for the regional economy.""Singapore-based security scholar Collin Koh said the Pelosi visit had trapped China between having to show a resolute and sweeping response while avoiding a full-blown conflict.""Even if they want to avoid that outcome, there are still significant possibilities for an accidental escalation,"" said Koh, of the of the S. Rajaratnam School of International Studies.Maps of the drills produced by China show they go far beyond the missile firings in the straits in 1996 when Beijing protested the island's first direct presidential election in what became known as the Third Taiwan Strait Crisis. read more Significantly, in the north, east and south, the proposed exercise areas bisect Taiwan's claimed 12 nautical miles of territorial waters - something Taiwanese officials say challenges the international order and amount to a blockade of its sea and air space.In 1996, the United States navy dispatched two aircraft carriers close to the straits to effectively end the crisis - a move many analysts consider more challenging now given China's military growth, including a vastly more capable missile inventory.A U.S. Navy official confirmed to Reuters on Tuesday that the 7th Fleet had deployed the USS Ronald Reagan carrier and four other warships, including a guided missile cruiser, in the Philippine Sea east of Taiwan as part of a ""routine deployment"".The Indo-Pacific Command in Hawaii did not immediately respond to Reuters' questions on the Chinese drills on Wednesday.Koh said advanced U.S. and Taiwanese reconnaissance aircraft would see the drills as an opportunity to probe Chinese military systems and communications, potentially adding to risks if Chinese planes responded.Register now for FREE unlimited access to Reuters.comReporting By Greg Torode and Yew Lun Tian; additional reporting by Yimou Lee in Taipei; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.",Risks mount from China drills near Taiwan during Pelosi visit - analysts.
"Russian President Vladimir Putin and his Turkish counterpart Tayyip Erdogan attend groundbreaking ceremony of the Akkuyu Nuclear Power Plant through videolink, at the Presidential Palace in Ankara, Turkey April 3, 2018. Sputnik/Mikhail Klimentyev/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comISTANBUL, Aug 3 (Reuters) - The Turkish Energy Ministry said it is seeking to resolve a dispute between the parties involved in the construction of a $20 billion nuclear power plant by Russia's Rosatom at Akkuyu in southern Turkey.Akkuyu Nukleer, a Rosatom unit, said on Saturday it signed an agreement with TSM Enerji to undertake the remaining construction work at the plant after terminating a deal with Turkish firm IC Ictas. read more IC Ictas said on Monday it had launched a legal challenge to the termination of the deal by Akkuyu Nukleer. TSM is owned by three Russia-based companies, according to the Turkish trade registry.Register now for FREE unlimited access to Reuters.com""Our ministry has taken the necessary initiatives to resolve the dispute between the parties,"" the Turkish Energy Ministry said in a statement late on Tuesday.""Our priority is to ensure that all contractors and employees who have been serving at the construction site since the beginning of the project do not suffer any grievances and that the project is put into service on time,"" it said.Akkuyu Nukleer, which is building four reactors at the Mediterranean site, did not give a specific reason for ending the deal with IC Ictas but said the contract with TSM would ensure work was completed by agreed dates and that workers were paid on time.Ankara aims to start operating the first reactor at the total 4,800-megawatt plant before presidential and parliamentary elections in 2023. The plant is expected to produce up to 10% of Turkey's electricity once all four reactors are in operation.President Tayyip Erdogan has previously suggested that Turkey could work with Russia on the construction of two more plants. He is set to hold talks with Russian President Vladimir Putin in the Russian Black Sea resort of Sochi on Friday.Register now for FREE unlimited access to Reuters.comReporting by Can Sezer; Writing by Daren Butler; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Turkey seeks to resolve dispute over Russian-built nuclear plant.
"Passersby wearing protective face masks walk in front of an electronic board showing Japan's Nikkei share average, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan July 14, 2022. REUTERS/Issei KatoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - Stocks rose in volatile trading across Asia on Wednesday and the dollar pared early gains as investors weighed the potential fallout from U.S. House Speaker Nancy Pelosi's visit to Taiwan, which has angered China.Bond yields were also helped as demand for the safest assets eased despite heightened tensions between the United States and China, which views Taiwan as a breakaway province. read more ""In the longer term, there will be more frictions between the U.S. and China,"" said Redmond Wong, Greater China market strategist at Saxo Markets in Hong Kong. ""We have already been seeing selling from overseas investors in Chinese equities.""Register now for FREE unlimited access to Reuters.comJapan's Nikkei (.N225) closed up 0.53%, rebounding from Tuesday's two-week closing low, while Hong Kong's Hang Seng (.HSI) gained 0.83% and Taiwan's TAIEX index (.TWII) rebounded from earlier losses to gain 0.2% at the close.MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) rose 0.19%, helped by the rally in Japan as bargain hunters came in following Tuesday's decline to a two-week closing low.Australia's AXJO (.AXJO) fell 0.41% and Chinese blue chips lost 0.13%.""Obviously, as investors in China, we would not like to see tensions escalate,"" said Thomas Masi, vice president and co-portfolio manager of the GW&K Emerging Wealth Strategy.""And we don't see the benefit necessarily of this trip, but there could be something that we don't understand. On a risk-reward basis, should tensions ease, there's a lot more upside in these stocks.""FTSE futures were down 0.20% and Euro STOXX 50 futures dropped 0.08% ahead of markets opening in Europe.U.S. stock futures jumped 0.32%, following the S&P 500's 0.67% drop overnight.A trio of Fed policymakers signalled on Tuesday that there would be no let up in the tightening campaign aimed at taming the highest inflation since the 1980s, even though it will take rates to a level that will more significantly curb economic activity. read more Two of them, San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans, are widely regarded as doves.Traders now see a chance of around 39.5% that the Fed will hike by another 75 basis points at its next meeting in September.The benchmark U.S. 10-year Treasury yields were around 2.71% in Tokyo, not far from the overnight high of 2.774% following a 14 basis point surge.The U.S. dollar index , which gauges the currency against the yen and five other major peers, was 0.188% lower at 106.25, having rebounded as much as 1.43% overnight following its slide to a nearly one-month low at 105.03.Gold gained 0.57% higher to $1,769.73 per ounce, but following a 0.68% retreat the previous session.Register now for FREE unlimited access to Reuters.comEditing by Lincoln Feast and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Asian stocks gain as investors weigh risk from Pelosi Taiwan visit.
"Ukrainian President Volodymyr Zelenskyy has described the situation in the Donbas in eastern Ukraine as hellish, adding that Russia still has the upperhand in the region. Kyiv ordered the mandatory evacuation of the Donetsk, a part of the Donbas, last weekend amid severe fighting there.The first shipment of grain exports from Ukraine in months safely reached Istanbul, Turkey last night. The shipment will be inspected there Wednesday before carrying on its journey to Tripoli in Lebanon. The Sierra-Leone flagged Razoni departed Odesa on Monday, with Zelenskyy calling the shipment a ""positive signal.""The United States slapped more sanctions on Russian oligarchs on Tuesday, as the U.S. Senate moved closer to a vote to admit Sweden and Finland into the NATO military alliance.U.S. Secretary of State Antony Blinken spoke of fears over a nuclear accident in Ukraine. He told reporters late Monday that there are ""credible reports"" that Russia ""is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant.""First grain shipment out of Ukraine in months reaches Turkey safelyThe first grain ship to leave Ukraine in months has arrived safely in Turkish waters, where it will be inspected before it continues its journey to Lebanon.The shipment comes after a deal was brokered between Russia and Ukraine by Turkey and the United Nations to allow vital exports to resume from the country after a blockade that contributed to global shortages of wheat and cooking oil, of which Ukraine is a major producer and exporter.The ship was carrying more than 26,000 tonnes of corn and is due to undergo an inspection in Istanbul before continuing to Tripoli.An aerial view of Sierra Leone-flagged dry cargo ship Razoni which departed from the port of Odesa Monday, arriving at the Black Sea entrance of the Bosporus Strait, in Istanbul, Turkey, on August 3, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesThe U.N.-led Joint Coordination Centre requested that all parties inform their militaries of the ship's movements in order to ensure its safe passage from Ukraine through the Black Sea, where much of the coast has been mined by both Russia and Ukraine amid the invasion, to Turkish waters in the Bosporus.The agreement, which was reached after much negotiation between the warring countries, has been hailed as a rare success for international diplomacy, with some officials hoping it could be built upon to potentially reach a cease-fire.U.N. Secretary-General Antonio Guterres said Monday after the merchant vessel, the Razoni, left the port of Odesa that it ""was loaded with two commodities in short supply: corn and hope.""""Hope for millions of people around the world who depend on the smooth running of Ukraine's ports to feed their families. The ship's departure is the first concrete result of the Black Sea Grain Initiative. It has been a long journey since I presented the proposal to the leaders of the Russian Federation and Ukraine at the end of April,"" he said. The Razoni's departure was, he added, an ""enormous collective achievement.""— Holly Ellyatt'It's just hell': President Zelenskyy describes the situation in the DonbasUkrainian President Volodymyr Zelenskyy has said the situation in the Donbas in eastern Ukraine, the epicenter of the war in Ukraine, is ""just hell.""Describing Russia's ""fire superiority"" in his nightly video message, Zelenskyy said Ukraine's forces ""still cannot completely break the advantage of the Russian army in artillery and in manpower, and this is very felt in the battles, especially in Donbas - Pisky, Avdiyivka, other directions."" ""It's just hell. It can't even be described in words,"" he added.Firefighters try to put out a fire after the Russian shelling of a house in Bakhmut in Donetsk, Ukraine, on July 27, 2022.Anadolu Agency | Anadolu Agency | Getty ImagesWith intense fighting in the Donbas, Ukraine has ordered residents in one of its constituent regions, Donetsk, to evacuate while Kyiv discusses the need for more weapons with its international allies. NATO Secretary-General Jens Stoltenberg spoke with President Zelenskyy about more military aid for Ukraine, tweeting Wednesday that ""it's vital that NATO and allies provide even more assistance to Ukraine even faster.""People board the evacuation train from the Donbas region to the west of Ukraine, at the train station in Pokrovsk, on August 2, 2022.Bulent Kilic | Afp | Getty ImagesHe said that the two also discussed the first shipment of grain since Russia's late February invasion and subsequent naval blockade of Ukrainian ports.Zelenskyy also commented on the initial success of the Black Sea Grain Initiative, a deal between Russia and Ukraine, Turkey and the United Nations, to enable the resumption of exports of vital produce from Ukraine by sea.""Our goal now is to have regularity: so that when one ship leaves the port, there should be other ships as well - both those loading and those on the approach to the port. Continuity and regularity is the necessary principle. All consumers of our agricultural products need it,"" he said.— Holly EllyattRead CNBC's previous blog here:Two Republican senators propose amendments ahead of the vote to add Finland and Sweden to NATONATO Secretary General Jens Stoltenberg (C), Finland Ministers for Foreign Affairs Pekka Haavisto (L) and Sweden Foreign minister Ann Linde (R) give a press conference after their meeting at the Nato headquarters in Brussels on January 24, 2022.John Thys | AFP | Getty ImagesTwo Republican senators have proposed amendments on the vote to add Sweden and Finland to NATO.Sens. Rand Paul, R-Ky., and Dan Sullivan, R-Alaska, both are seeking changes to the treaty vote as Congress prepares to head into recess.Paul told NBC News that his amendment states that ""nothing in the Article Five portion of the NATO Treaty supersedes the congressional directive that we have to declare war."" The NATO provision holds than an attack on one member of the alliance is an attack on all members. Sullivan told NBC News that his amendment states that every member of NATO, to now include Sweden and Finland, should commit to the 2% of GDP spending on defense goal established at the 2014 NATO Wales Summit.The vote to include Sweden and Finland in NATO is expected to overwhelmingly pass.— Amanda MaciasU.S. slaps more sanctions on Russian officials and oligarchsRed Square, MoscowMike Hewitt | Getty ImagesSecretary of State Antony Blinken announced new sanctions on Russian oligarchs and state-owned entities.Below is the State Department's fact sheet of imposed penalties on the following Russian oligarchs:Alexander Ponomarenko ""for operating or having operated in the aerospace sector of the Russian economy. He is an oligarch with close ties to other oligarchs and the construction of Vladimir Putin's seaside palace."" He has been sanctioned by the U.K., European Union, Canada, Australia and New Zealand.Dmitry Pumpyanskiy ""for operating or having operated in the financial services sector of the Russian Federation economy."" The U.K., European Union and New Zealand have also designated him. Pumpyanskiy has ties to the yacht ""Axioma,"" which is now being identified as blocked property.Andrey Melnichenko ""for operating or having operated in the financial services sector of the Russian Federation economy."" Like Pumpyanskiy, he has also been designated by the U.K., European Union, and New Zealand.""We are also imposing additional costs on Russia's war machine by designating 24 Russian defense and technology-related entities,"" Blinken wrote in a statement. ""Russia has systematically focused on exploiting high-technology research and innovations to advance Moscow's war-fighting capabilities – the same defense capabilities that Russia's military is using in its vicious attacks hitting Ukraine's population centers and resulting in the deaths of civilians, including children,"" he added.— Amanda MaciasMarch was the deadliest month of Russia's war in Ukraine, UN saysThe United Nations Human Rights Office of the High Commissioner said that March was so far the deadliest month in Russia's war in Ukraine.There were more than 3,100 civilian casualties and 2,400 injuries due to the conflict in March, according to data compiled by the UN. Total civilian casualties from 24 February to 31 July 2022 as compiled by the United Nations.U.N. Human Rights Office of the High CommissionerThe United Nations has confirmed 5,327 civilian deaths and 7,257 injuries in Ukraine since Russia invaded on Feb. 24.""Most of the civilian casualties recorded were caused by the use of explosive weapons with wide area effects, including shelling from heavy artillery, multiple launch rocket systems, missiles and air strikes,"" the UN office wrote in a report.The human rights office added that the majority of casualties and injuries were reported in the Donetsk and Luhansk regions.— Amanda Macias",'It's just hell': Ukraine says Russia has the advantage in battle for the Donbas; grain ship safely arrives in Turkey.
"People walk on the Long Walk near Windsor Castle, in Windsor, Britain, January 13, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - A man arrested with a crossbow at Queen Elizabeth's Windsor Castle home on Christmas Day last year has been charged with having a weapon with intent to ""alarm her Majesty"" under Britain's Treason Act, police and prosecutors said on Tuesday.Jaswant Singh Chail, 20, from Southampton in southern England, had been arrested on Dec. 25 while carrying a crossbow in the grounds of the castle to the west of London where the 96-year-old monarch mostly resides, prosecutors said.Following an investigation by counter-terrorism police, he was charged with making threats to kill, possession of an offensive weapon and an offence under section 2 of the Treason Act 1842.Register now for FREE unlimited access to Reuters.comThis section details punishment for ""discharging or aiming fire-arms, or throwing or using any offensive matter or weapon, with intent to injure or alarm her Majesty"".Chail will appear at London's Westminster Magistrates' Court on Aug. 17.""The Crown Prosecution Service reminds all concerned that criminal proceedings against Mr Chail are active and that he has the right to a fair trial,"" Nick Price, Head of the CPS Special Crime and Counter Terrorism Division, said.The queen was at the castle at the time of the incident along with her son and heir Prince Charles, his wife Camilla and other close family.Police said Chail had not broken into any buildings.Security breaches at royal residences are rare. The most serious one in the queen's reign happened in 1982, when an intruder climbed a wall to enter Buckingham Palace, her London home, and made his way to her bedroom.In 2003, Aaron Barschak, who called himself ""the comedy terrorist"", evaded security at Windsor wearing a pink dress and an Osama bin Laden-styled beard to gatecrash the 21st birthday party of Charles's elder son Prince William, the second-in-line for the throne.The last person to be convicted under the more serious medieval 1351 Treason Act was William Joyce, a propagandist for Nazi Germany nicknamed Lord Haw Haw who broadcast to Britain during World War Two and was hanged in 1946.Register now for FREE unlimited access to Reuters.comReporting by Michael Holden; editing by David Milliken and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Man charged under Britain's Treason Act over Christmas Day incident at queen's home.
"get the free app Updated on: August 3, 2022 / 2:16 AM / CBS News Primaries test Trump's hold on Republican Party Primaries test Trump's hold on Republican Party 02:15 Voters were cast Tuesday in five states in some of the states that were battlegrounds in 2020 — and will be again in 2024. Kansas voters voted to preserve abortion access to for women Tuesday night, as abortion faced its first test at the ballot box since the Supreme Court struck down Roe v. Wade. With former President Donald Trump's influence looming large in some of Tuesday's primaries, a CBS News poll released Tuesday showed that for Republicans, a Trump endorsement is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans. ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriCBS News projects that Attorney General Eric Schmitt, who has been leading the crowded field, wins the Republican nomination for the open Senate seat in Missouri. Eric Greitens, the former governor who resigned in 2018 and has faced allegations of domestic abuse, led early in the race, but an $11 million ad blitz by two anti-Greitens groups chipped it away.On the eve of the primary, Trump issued a kind of split endorsement in the race, throwing his support behind ""ERIC."" Both Eric Schmitt and Eric Greitens quickly claimed they'd won his backing.In Missouri's 1st Congressional District, CBS News projects incumbent Rep. Cori Bush,  who unseated a longtime incumbent in 2020, will win her primary. Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, CBS News projects John Gibbs defeats incumbent Rep. Peter Meijer, one of the 10 House Republicans who voted to impeach Trump. Trump had backed Gibbs in the primary, and Gibbs will now face Democratic nominee Hillary Scholten in the general election. In a statement early Wednesday, Meijer said he is ""proud to have remained true to my principles, even when doing so came at a significant political cost."" In the race to take on Gov. Gretchen Whitmer, CBS News projects Tudor Dixon will win the Republican nomination. Dixon, backed by Trump, had been seen by Republican strategists as the strongest candidate to take on Whitmer. Among the Republicans Dixon defeated was Ryan Kelley, who was arrested in June related to his participation in the Jan. 6 attack on the U.S. Capitol. ""Now we have the opportunity to truly hold Gretchen Whitmer accountable for the pain she has inflicted on every one of us in the past three years,"" Dixon said at her election night watch party in Grand Rapids, Mich., referring to the lockdowns of schools imposed during the COVID-19 pandemic.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasKansas voted to preserve abortion access, voting ""no"" on the ability to amend the state constitution, marking the first time a state has voted on abortion, since the Supreme Court struck down Roe v. Wade.Kansas Democratic Party Chairwoman Vicki Hiatt celebrated the win for abortion access, saying in a statement, ""This outcome affirms what we know is true: Kansans want common sense leadership that will protect their right to keep politicians out of their health care decisions.""In 2019, Kansas' state Supreme Court ruled that the right to an abortion is protected in the state constitution's bill of rights. Voters were deciding whether to allow the constitution to be amended in order to ban abortion rights.    6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    Updated 10:07 PM U.S. Senate Missouri Republican primary: CBS News projects Eric Schmitt wins CBS News projects Eric Schmitt will win the Republican nomination for U.S. Senate in Missouri.   Updated 12:17 AM U.S. Senate Missouri Democratic primary: CBS News projects Trudy Busch Valentine wins CBS News projects Trudy Busch Valentine wins the Democratic primary for U.S. Senate in Missouri.    Updated 10:56 PM Missouri 1st Congressional District Democratic primary: CBS News projects Cori Bush wins CBS News projects Cori Bush wins the Democratic primary in Missouri's 1st Congressional District.    Updated 10:42 PM CBS News projects Kansas voters reject amending constitution on abortion CBS News projects ""No"" wins, meaning the state constitution will remain as is, reaffirming the right to an abortion.   Updated 9:03 PM Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    Updated 9:48 PM Michigan Republican governor primary: CBS News projects Tudor Dixon will win CBS News projects Tudor Dixon will win the Michigan Republican primary for governor   Updated 8m ago Michigan 3rd Congressional District Republican primary: CBS News projects John Gibbs wins CBS News projects John Gibbs wins the Republican primary in Michigan's 3rd Congressional District.    Updated 10:56 PM Michigan 11th Congressional District Democratic primary: CBS News projects Haley Stevens wins CBS News projects Haley Stevens wins the Democratic nomination Michigan's 11th Congressional District.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Live Updates: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"Pedestrians walk near the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand, July 3, 2017. REUTERS/David Gray/File PhotoRegister now for FREE unlimited access to Reuters.comWELLINGTON, Aug 3 (Reuters) - New Zealand’s jobless rate held just above historic lows while wage inflation hit a 14-year high, raising the prospect that the central bank might have to increase rates more aggressively than economists expect.The unemployment rate rose to 3.3% in the June quarter, Statistics New Zealand data showed on Wednesday, slightly higher than a forecast 3.1% by economists but just above the historic low of 3.2% in the previous quarter.Wage growth was strong in the quarter with the private sector labour cost index (LCI) recording a 3.4% lift on year, above a forecast 3.3% increase. This was its biggest increase since 2008.Register now for FREE unlimited access to Reuters.com""Nearly two-thirds of roles surveyed in the LCI saw an increase in ordinary time wage rates in the year ended June 2022 – the highest level since the series began in 1993,"" business employment insights manager Sue Chapman added in a statement.Most economists expect the Reserve Bank of New Zealand (RBNZ) to raise rates by 50 basis points later this month and hotter than expected wage inflation to feed into expectations of more rate hikes than initially expected.ANZ Bank said in a note the labour market is likely to remain a driver of persistently high inflation over the next year.""The risk of a wage price spiral is certainly not abating. That should keep the RBNZ on track to hike the OCR (official cash rate) to 4% by the end of the year as per our forecasts,"" it added.The RBNZ in July raised its official cash rate to 2.50%, the latest in a series of hikes that has taken the benchmark from a record low 0.25% in October last year.The bank has also signalled plans to increase the rate to 4.0% by the middle of 2023. However, economists are mixed on whether the RBNZ will need to go that far.""The risk for the RBNZ is that wage pressures provide an avenue for the recent bout of price shocks to turn into sustained inflation over time,"" said Westpac acting chief economist Michael Gordon.He said Westpac will be reviewing its OCR forecasts later on Wednesday but the risks are clearly towards a higher peak than the 3.50% it had been forecasting.Register now for FREE unlimited access to Reuters.comReporting by Lucy Craymer; Editing by Tom Hogue and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.","New Zealand job market tight, adding pressure for central bank."
"The sun is reflected in FIFA's logo in front of FIFA's headquarters in Zurich, Switzerland November 19, 2015. REUTERS/Arnd Wiegmann/File PhotoRegister now for FREE unlimited access to Reuters.comBUENOS AIRES, Aug 2 (Reuters) - Argentina, Chile, Uruguay and Paraguay submitted a joint bid on Tuesday to host the 2030 World Cup, an effort that if successful would bring the global tournament back to Uruguay a century after it hosted the first World Cup in 1930.""This is the dream of a continent,"" said Alejandro Dominguez, president of the South American Football Confederation (CONMEBOL).""There will be more World Cups, but the Cup only turns 100 one time, and it needs to come home,"" Dominguez said in an event at Montevideo's Centenario Stadium, where Uruguay defeated Argentina to win the first ever World Cup.Register now for FREE unlimited access to Reuters.comArgentina and Chile have since also hosted the games, in 1978 and 1962, respectively.""It's just for the World Cup to be hosted where it all began 100 years later,"" Ignacio Alonso, president of the Uruguayan Football Association, told reporters.Dominguez said there are ""more than sufficient"" reasons for FIFA to accept the four countries' single candidacy. The 2030 World Cup will follow the 2026 World Cup, which will be jointly hosted by Canada, Mexico and the United States.For now, the South American countries' top competition appears to come from Spain and Portugal, which last month submitted a joint bid to host the tournament.Register now for FREE unlimited access to Reuters.comReporting by Ramiro Scandolo; Writing by Brendan O'Boyle; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","'The dream of a continent': Argentina, Chile, Uruguay, Paraguay submit joint World Cup 2030 bid."
"U.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 3 (Reuters) - China on Wednesday suspended exports of natural sand to Taiwan and halted imports of fruit and fish products from the self-governed island as U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan in a trip condemned by Beijing. read more In a warning salvo ahead of Pelosi's visit, Chinese customs had suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday. read more In January-June, China's imports from Taiwan reached $122.5 billion, up 7.3% from a year earlier, Chinese customs data showed. Top imported goods included integrated circuits and electronic components.Register now for FREE unlimited access to Reuters.comNATURAL SANDChina's commerce ministry said exports of natural sand - widely used for construction and in concrete - to Taiwan were suspended from Wednesday.Such a move was based on laws and regulations, the ministry said, without elaborating.In March 2007, China halted exports of natural sand to Taiwan due to environmental concerns. The ban lasted for a year. According to Chinese official data, more than 90% of Taiwan's natural sand imports came from China in 2007.FRUIT AND FISHChina also halted imports of citrus fruit, chilled white striped hairtail and frozen horse mackerel from Taiwan from Wednesday, a suspension which it said was due to pesticide residue found on citrus fruit, while traces of the novel coronavirus were detected on the packaging of some frozen fish products in June.China's top food and agricultural imports from Taiwan include seafood, coffee, dairy products, beverages and vinegar.In January-June, China's biggest agricultural and food import items from Taiwan were fish and other aquatic invertebrates, reaching 399 million yuan ($59 million).Earlier this year, China suspended imports of grouper fish from Taiwan, saying it had detected banned chemicals.Last year, Beijing also suspended pineapple, sugar apple and wax apple imports from the island, citing pest concerns. read more TWO FOUNDATIONSChina also vowed to take ""disciplinary actions"" against two Taiwan foundations which it claimed had aggressively engaged in pro-independence separatist activities.The two foundations - Taiwan Foundation for Democracy and Taiwan Foreign Ministry's International Cooperation and Development Fund - will be banned from cooperating with any organisations, companies and individuals in the mainland, China's state news agency Xinhua on Wednesday cited Ma Xiaoguang, spokesman of China's Taiwan Affairs Office, as saying.China will punish any mainland organisations, companies and individuals that provide financial support to or serve the two foundations, Xinhua reported, adding other measures will be adopted if necessary.In addition, any deal or cooperation between four specific Taiwanese firms and mainland companies are not allowed due to their donations to the two foundations.Executives at the four Taiwanese companies - solar producer Speedtech Energy Co., Hyweb Technology Co., medical equipment producer Skyla, and cold chain vehicle fleet management company SkyEyes - will be prohibited from entering mainland China.($1 = 6.7506 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.comReporting by Beijing Newsroom, Ryan Woo and Emily Chow; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Factbox: Economic sanctions China has imposed on Taiwan over Pelosi visit.
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - China furiously condemned the highest-level U.S. visit to Taiwan in 25 years as House of Representatives Speaker Nancy Pelosi hailed the self-ruled island as ""one of the freest societies in the world"" in a speech to the parliament in Taipei on Wednesday.Beijing demonstrated its anger with Pelosi's presence on an island that it says is part of China with a burst of military activity in the surrounding waters, and by summoning the U.S. ambassador in Beijing, and announcing the suspension of several agricultural imports from Taiwan.Pelosi arrived in Taipei late on Tuesday on an unannounced but closely watched trip, saying that it shows unwavering U.S. commitment to Taiwan's democracy.Register now for FREE unlimited access to Reuters.comAddressing parliament on Wednesday, Pelosi praised President Tsai Ing-wen, who Beijing suspects of pushing for formal independence - a red line for China.""We thank you for your leadership. We want the world to recognize that,"" Pelosi said, while also calling for increased inter-parliamentary cooperation.Pelosi went on to say that new U.S. legislation aimed at strengthening the American chip industry to compete with China ""offers greater opportunity for US-Taiwan economic cooperation.""Now more than ever, America's solidarity with Taiwan is crucial, Pelosi told Tsai, adding that America's determination to preserve democracy in Taiwan and the rest of the world remains iron-clad. read more She was also set to meet with human rights activists later in the day.The last House Speaker to go to Taiwan was Newt Gingrich visited in 1997. But Pelosi's visit comes amid sharply deteriorating Sino-U.S. relations, and China has emerged as a far more powerful economic, military and geopolitical force during the past quarter century.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.Early on Wednesday, China's customs department announced a suspension of imports of citrus fruits, chilled white striped hairtail and frozen horse mackerel from Taiwan, while its commerce ministry suspended export of natural sand to Taiwan.A long-time China critic, especially on human rights, Pelosi was set to meet later on Wednesday with a former Tiananman activist, a Hong Kong bookseller who had been detained by China and a Taiwanese activist recently released by China, people familiar with the matter said.U.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS MILITARY DRILLSShortly after Pelosi's arrival, China's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of Taiwan, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Before Pelosi's arrival on Tuesday, Chinese warplanes buzzed the line dividing the Taiwan Strait. The Chinese military said it was on high alert and will launch ""targeted military operations"" in response to Pelosi's visit.White House national security spokesman John Kirby said on Tuesday after Pelosi's arrival that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.""We will continue to support Taiwan, defend a free and open Indo-Pacific and seek to maintain communication with Beijing,"" Kirby told a later White House briefing, adding that the United States ""will not engage in sabre-rattling.""Kirby said China might engage in ""economic coercion"" toward Taiwan, adding that the impact on American-Chinese relations will depend on Beijing's actions in the coming days and weeks.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Taiwan's cabinet on Wednesday said the military has increased its alertness level. The island's defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills in the surrounding waters.""The so-called drill areas are falling within the busiest international channels in the Indo-Pacific region,"" a senior Taiwan official familiar with its security planning told Reuters on Wednesday.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" the person said.Japan's Chief Cabinet Secretary Hirokazu Matsuno told a news conference that the government has conveyed concerns over the military operations to China, and reiterated that Japan hopes issues over the Taiwan Strait will be resolved through dialogue.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu
Writing by Tony Munroe; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","Pelosi hails Taiwan's free society as China holds military drills, vents anger."
"Toyota Motor Corporation cars are seen at a briefing on the company's strategies on battery EVs in Tokyo, Japan December 14, 2021. REUTERS/Kim Kyung-Hoon/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - Toyota Motor Corp (7203.T) is expected to report a double-digit drop in first-quarter profit this week, as a chip shortage and supply-chain woes forced the world's top automaker by sales to repeatedly slash production targets.The Japanese car maker cut its monthly production targets three times during the April-June first quarter, falling 10% behind its initial goals, due to shortages of semiconductors and the impact of COVID-19 lockdowns in China.Like other manufacturers, Toyota is grappling with higher costs and fears that global inflation could put the brakes on consumer demand. Its production woes are notable because they mark a departure from its initial success in navigating supply problems at the start of the pandemic.Register now for FREE unlimited access to Reuters.comLast year first-quarter profit surged as Japan's biggest automaker left the worst of the pandemic's woes behind, but this year, the only positive in the first quarter is likely to be the weaker yen, said Koji Endo, an analyst at SBI Securities.""Last year's first quarter was a period of thorough cost cutting,"" Endo said. ""Compared to that, profits are likely to have fallen sharply this time around.""Toyota is expected to report on Thursday a 15% decrease in operating profit to 845.8 billion yen ($6.47 billion) for the April-June quarter, according to the average estimate in a poll of 10 analysts by Refinitiv. The profit drop, nevertheless, is the smallest for the automaker in three quarters.Toyota, Nissan, Honda shares in 2022The yen weakened some 10% during the April-June quarter, almost touching 137 to the dollar at one point, compared to Toyota's forecast for the year of 115 yen.A weak yen is typically a boon for companies that export, as it boosts revenue when overseas earnings are brought home. However, some of the benefit has been offset in recent years as Japanese companies manufacture more abroad, meaning that their overseas costs also go up as the yen weakens. read more CHALLENGESToyota and its major Japanese rivals, Nissan Motor (7201.T) and Honda Motor (7267.T), are also grappling with longer term challenges including electrification and automation of vehicles.And consumer trust issues rear their head frequently in Japan, with major Toyota affiliate Hino Motors (7205.T) admitting on Tuesday it falsified emissions data for longer than previously disclosed. read more A key near-term question for analysts and investors is whether Toyota can maintain the 9.7 million global vehicle production target for the current financial year ending in March.Meeting that would likely depend on the outlook for the chips shortage and supply chains - as well as the economic outlook, said Endo of SBI Securities.But even if the economy slows down, Toyota has an enormous backlog of orders, and a decrease in demand for consumer electronics could divert chips to automobile production, he said.If Toyota does not change the full-year production target in the second quarter, that means it is very confident about production in the second half of the year to hit the goal, he said.($1 = 130.6300 yen)Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama; Editing by David Dolan and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",Toyota likely to post lower Q1 profit as production woes cast shadow.
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - Taiwan's defence ministry said on Wednesday that Chinese military drills have violated United Nations rules, invaded Taiwan's territorial space and amount to a blockade of its air and sea, amid high tensions as U.S. House of Representatives Speaker Nancy Pelosi visits the island.Taiwan's defence ministry said the island will firmly defend its security, counter any move that violates territorial sovereignty and enhance its alertness level with the principle of not asking for war.The defence ministry added during a news conference on Wednesday that China continues to launch psychological warfare on Taiwan, and that citizens should not believe in rumours and report any fake news to the government.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee; Writing by Martin Quin Pollard; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.",Taiwan defence ministry says Chinese drills seriously violated island's sovereignty.
"French bank Societe Generale's headquarters in Paris.Chesnot | Getty Images News | Getty ImagesSociete Generale on Wednesday reported better-than-expected earnings despite taking a 3.3 billion euro ($3.36 billion) hit from exiting its Russian operations.The French lender saw every unit grow in the second quarter, which helped offset the impact of its departure from Russia in the wake of Moscow's Ukraine invasion.Analysts estimated a net loss of 2.85 billion euros for the quarter, according to Refinitiv, however, the bank posted a net loss of 1.48 billion euros.""We combined, in the first half of 2022, strong growth in revenues and underlying profitability above 10% (ROTE) and we were able to manage our exit from the Russian activities without significant capital impact and without handicapping the Group's strategic developments,"" Fréderic Oudéa, the group's chief executive officer, said in a statement.Other highlights for the quarter:Revenues were 7 billion euros for the quarter.Operating expenses reached 4.5 billion euros.CET 1 ratio, a measure of bank solvency, stood at 12.9% at the end of June.The French retail bank posted a net profit 18.7% higher from the previous quarter. International retail banking also rose 33% from the previous three-month period. The Global Banking unit also posted a jump of almost 50% in net income from the previous quarter.Going forward, the French bank said it aims to achieve a return on tangible equity, a measure of profitability, of 10% and a CET 1 ratio of 12% in 2025. It also wants an average annual revenue growth above or equal to 3% until then.The stock is 28% lower year-to-date.",SocGen posts second-quarter loss after taking 3.3 billion euro hit on Russia exit.
"U.S. House of Representatives Speaker Nancy Pelosi attends a meeting with Taiwan President Tsai Ing-wen at the presidential office in Taipei, Taiwan August 3, 2022. Taiwan Presidential Office/Handout via REUTERS Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - The United States wants Taiwan to always have freedom with security and will not back away from that, U.S. House of Representatives Speaker Nancy Pelosi said on Wednesday, during a visit to Taipei fiercely criticised by China.While respecting the ""One China"" policy, our solidarity with Taiwan is more important than ever, Pelosi said, during a joint news conference with Taiwan President Tsai Ing-wen. The U.S. supports the status quo and does not want anything to happen to Taiwan by force, Pelosi added.Asked about the economic consequences Taiwan has to face as a result of her visit, Pelosi said the U.S.' chips act opens the door for better economic exchanges between the United States and Taiwan.Taiwan is committed to maintaining the status quo across the Taiwan strait, Tsai said, adding that China's military exercises, launched in response to Pelosi's visit are an unnecessary reaction.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu, Writing by Martin Quin Pollard; Editing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.",U.S. wants Taiwan to have freedom with security - Pelosi.
"Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus MordantRegister now for FREE unlimited access to Reuters.comMELBOURNE, Aug 3 (Reuters) - Oil prices fell about 1% in early trade on Wednesday before paring some losses, ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar.Brent crude futures were last down 38 cents, or 0.4%, at $100.16 a barrel at 0345 GMT. West Texas Intermediate (WTI) crude futures slid 35 cents, or 0.4%, to $94.07 a barrel.The Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group will likely keep output unchanged in September, or raise it slightly.Register now for FREE unlimited access to Reuters.comAnalysts are expecting no change due to a weak outlook for demand as recession fears grow, and said top producer Saudi Arabia may be reluctant to beef up output at the expense of OPEC+ partner Russia, hit by sanctions due to the Ukraine conflict.""This week's main event for oil remains today's OPEC+ decision and that should keep prices somewhat rangebound until OPEC and its partners decide what to do with September's output,"" Edward Moya, senior market analyst at OANDA, told Reuters.He added that the organization has a strong case to stand by their standard increase of 400,000 barrels a day.""OPEC+ is not even coming close to hitting their production targets, so oil prices will likely remain supported even if they announce a small output increase for September,"" he said.Ahead of the meeting, OPEC+ trimmed its forecast for an oil market surplus this year by 200,000 barrels per day (bpd) to 800,000 bpd, three delegates told Reuters. read more Several factors are weighing on the demand outlook, including rising fears of an economic slump in the United States and Europe, debt distress in emerging market economies, and China's COVID-zero policy curbing activity in the world's top oil importer, Commonwealth Bank analyst Vivek Dhar said.""We see growing downside risks to our oil price forecast of $US100/bbl in Q4 2022 as global demand concerns continue to grow,"" Dhar said in a note.A stronger dollar, bolstered by comments from U.S. Federal Reserve officials hinting at more interest rate hikes to cool inflation, also weighed on oil prices as a firmer greenback makes oil more expensive for holders of other currencies.Adding to the bearish view on demand, data from the American Petroleum Institute, an industry group, showed U.S. crude stocks rose by about 2.2 million barrels for the week ended July 29, against analysts' expectations for a decline of around 600,000 barrels.Gasoline inventories fell by 200,000 barrels, which was a smaller drawdown than analysts had expected, however distillate stocks fell by about 350,000 barrels against analysts' forecasts for a build.The market will be looking to see if official data from the U.S. Energy Information Administration (EIA) at 1430 GMT confirms the inventory view.Register now for FREE unlimited access to Reuters.comReporting by Sonali Paul in Melbourne, additional reporting by Emily Chow; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Oil eases over demand worries ahead of OPEC+ meeting.
"A woman wearing protective a face mask is seen at an open-air restaurant as the government declared the second state of emergency for the capital and some prefectures, amid coronavirus disease (COVID-19) outbreak, in Tokyo, Japan January 9, 2021. REUTERS/Issei Kato/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - Japan's services sector activity almost completely stagnated in July as rising inflation and growing economic uncertainty weighed on sentiment, while firms also said a boost from the lifting of COVID-19 pandemic curbs had faded.The marked slowdown in activity in the sector offered an early warning sign that Japan's economy may struggle to stage a convincing recovery, a worrying trend for a country greatly exposed to fluctuations in global growth.The final au Jibun Bank Japan Services purchasing managers' index (PMI) slumped to a seasonally adjusted 50.3, marking the lowest reading since March.Register now for FREE unlimited access to Reuters.comThe figure showed activity came in slightly above the 50-mark that separates contraction from expansion.It was below June's final of 54.0, which was a more than eight-year high, and a 51.2 flash reading.""The Japanese services economy signalled that demand conditions had broadly stagnated at the start of the second half of the year as the boost from the wider reopening of the economy waned,"" said Usamah Bhatti, economist at S&P Global Market Intelligence, which compiles the survey.""Panel members commented that weaker economic conditions, partly due to inflation and uncertainty, had weighed on the sector.""Average cost burdens faced by services firms remained elevated, coming in at the second-highest rate in the survey's history after June's record.The composite PMI, which is estimated by using both manufacturing and services, slipped to a five-month low of 50.2 from June's 53.0 final.""Overall, private sector activity broadly stagnated in July following June's solid rise,"" added Bhatti.""A renewed fall in manufacturing output and stalling aggregate new orders contributed to the weaker reading.""Register now for FREE unlimited access to Reuters.comReporting by Daniel Leussink; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.",Japan's services sector nearly stagnates in July - PMI.
"A worker checks a 500 Indian rupee note as a man fills diesel in containers at a fuel station in Kolkata, India, August 14, 2018. REUTERS/Rupak De ChowdhuriRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - India has cut fuel export taxes for the second time in less than two weeks and increased a windfall tax on locally produced crude oil, a government notification on Tuesday said.India cut export taxes on jet fuel to zero from 4 rupees per litre and diesel to 5 rupees per litre from 11 rupees per litre, the finance ministry notification said.The changes will be effective from Wednesday.Register now for FREE unlimited access to Reuters.comIndia, which is the world's third largest oil importer, on Tuesday also raised the tax on domestically produced crude to 17,750 rupees ($226.14) per tonne from 17,000 rupees per tonne, the government notification said.India imposed a windfall tax on July 1 on crude oil producers, along with levies on gasoline, diesel and aviation fuel exports.But on July 20 it said it would cut the windfall tax on oil producers and levies on refiners, and fully exempted gasoline from an export duty.A top finance ministry official told Reuters last month that the Indian government will only withdraw the windfall tax for oil producers and refiners if global prices of crude fall as much as $40 a barrel from present levels.($1 = 78.4900 Indian rupees)Register now for FREE unlimited access to Reuters.comReporting by Sudarshan Varadhan and Aftab Ahmed in New Delhi, Maria Ponnezhath in Bengaluru; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.","India cuts fuel export taxes, hikes tax on local crude."
"LONDON, February 03: Governor of the Bank of England Andrew Bailey leaves after a press conference at Bank of England on February 3, 2022 in London, England. The Bank is expected to hike interest rates for a fourth consecutive meeting on Thursday, but faces a touch balancing act between supporting growth and curbing inflation.Dan Kitwood | Getty Images News | Getty ImagesLONDON — The Bank of England on Thursday is broadly expected to hike interest rates by 50 basis points, its largest single increase since 1995.Such a move would take borrowing costs to 1.75% as the central bank battles soaring inflation and would be the first half-point hike since it was made independent from the British government in 1997.U.K. inflation hit a new 40-year high of 9.4% in June as food and energy prices continued to surge, deepening the country's historic cost-of-living crisis.Bank of England Governor Andrew Bailey suggested in a hawkish speech on July 19 that the Monetary Policy Committee could consider a 50 basis point hike, vowing that there would be ""no ifs or buts"" in the Bank's commitment to returning inflation to its 2% target.A Reuters poll taken over the past week indicated that over 70% of market participants now anticipate a half-point rise.James Smith, developed markets economist at ING, said that although the economic data since June's 25 basis point hike had not moved the needle significantly, the MPC's prior commitment to act ""forcefully"" to bring inflation down, and the market more-or-less pricing in 50 basis points at this stage, means policymakers are likely to err on the aggressive side.""Even so, the window for further rate hikes feels like it's closing. Markets have already pared back expectations for 'peak' Bank Rate from 3.5% to 2.9%, though that still implies two further 50bp rate hikes by December, plus a little more thereafter,"" Smith said.""That still feels like a stretch. We've been penciling in a peak for Bank Rate at 2% (1.25% currently), which would mean just one more 25bp rate hike in September before policymakers stop tightening.""He acknowledged that, in practice, this might be an underestimate, and depending on the signal the Bank sends on Thursday, ING wouldn't rule out an additional 25bps or at most 50ps worth of hikes beyond that.Smith said the key points to watch out for in Thursday's report would be whether the Bank continues to use the word ""forcefully,"" and its forecasts, which plug market expectations into the Bank's models and expected policy trajectory.Should the forecasts indicate, as in previous iterations, an acceleration of unemployment and inflation well below target in two to three years' time, markets could deduce a more dovish message.""Everybody takes that as a sign of them saying 'okay, well if we were to follow through with what markets are expecting, then inflation is going to be below target,' which is their very indirect way of saying 'we don't need to hike as aggressively as markets expect,'"" Smith told CNBC on Tuesday.""I think that will be repeated, I would expect, and that should be taken as a bit of a sign maybe that we're nearing the end of the tightening cycle.""Growth worriesA more aggressive approach at Thursday's meeting would bring the Bank's monetary tightening trajectory closer to the trend set by the U.S. Federal Reserve and the European Central Bank, which implemented 75 and 50 basis point hikes last month, respectively.But while it may fortify the Bank's inflation-fighting credibility, the faster pace of tightening will exacerbate downside risks to the already-slowing economy.Berenberg Senior Economist Kallum Pickering said in a note Monday that Governor Bailey will likely carry a majority of the nine-member MPC if he backs a 50 basis point hike on Thursday, and projected that with inflation likely still rising¸ the Bank will hike by another 50bp in September.""Thereafter, the outlook is uncertain. Inflation will likely peak in October when the household energy price cap increases again. Amid growing evidence that tighter monetary conditions are weighing on demand and underlying inflation, we expect the BoE to hike by a further 25bp in November but pause in December,"" Pickering said.Berenberg expects the bank rate to reach 2.5% in November, up from 1.25% at present, though Pickering said the risks to this call are tilted to the upside. He suggested the BOE should be able to reverse some of the tightening during 2023 as inflation begins to roll over, and will likely cut the bank rate by 50 basis points next year with a further 50bp reduction in 2024.Energy price cap riseBritain's energy regulator Ofgem increased the energy price cap by 54% from April to accommodate soaring global costs, but is expected to rise by a greater degree in October, with annual household energy bills predicted to surpass £3,600 ($4,396).Barclays has historically been cautious on bank rates, placing a lot of faith in the MPC's ""early and gradual"" strategy. However, Chief U.K. Economist Fabrice Montagne told CNBC in an email last week that there is now a case for policymakers to act ""forcefully"" as energy prices continue to spiral.""In particular, surging energy prices are feeding into our forecast of the Ofgem price cap and will force the BoE to revise up its inflation forecast yet again. Higher inflation for even longer is the kind of scenario that spooks central banks because of higher risks of persistence and spillovers,"" he said.The British banking giant now expects a 50 basis point hike on Tuesday followed by 25 basis points in September and then ""status quo"" at 2%.",Bank of England tipped for biggest interest rate hike in 27 years as inflation soars.
"People photographed in Lower Saxony, Germany, on July 19, 2022. A number of European countries were affected by a heatwave last month.Julian Stratenschulte | Picture Alliance | Getty ImagesIt's been called a ""global emergency that goes beyond national borders"" and described as ""the biggest threat to security that modern humans have ever faced.""Whatever one's views on the matter, discussions about climate change and its effects on the world we live in are here to stay, with academic studies, global summits and extreme weather generating headlines on an almost daily basis.In a recent interview with CNBC's ""Sustainable Future,"" the founder of the CDP — a not for profit charity formerly known as the Carbon Disclosure Project — reflected on the sometimes fraught nature of the debate surrounding our planet and its future.   Speaking to CNBC's Tania Bryer, Paul Dickinson referenced what he called ""a sort of anti-climate change movement that is predicated simply on people believing it's a sort of left-wing plot.""""The truth is we're now realizing that this is about everybody,"" he said. ""This is not a party political issue.""Dickinson's argument will chime with those who see climate change as something that needs to be taken seriously, a viewpoint that, it would appear, is shared by many.According to the U.K.'s Office for National Statistics, for example, in Oct. 2021 three quarters of adults in Britain described themselves as being ""either very or somewhat worried about the impact of climate change."" By contrast, 19% ""were neither worried nor unworried.""In the United States, a 2020 report from the Pew Research Center found that ""broad majorities of the public — including more than half of Republicans and overwhelming shares of Democrats — say they would favor a range of initiatives to reduce the impacts of climate change.""While the Pew study pointed to shared concerns, it also provided a snapshot of how differences can sometimes be seen along party lines.""Much larger shares of Democrats and those who lean toward the Democratic Party than Republicans and Republican leaners say human activity is contributing a great deal to climate change (72% vs. 22%),"" it noted.Making moneyThe CDP was established in 2000. It says it provides businesses, regions, cities and states with a platform to ""report information on their climate, deforestation and water security impacts.""During his interview with CNBC, the CDP's Dickinson also spoke about the role big business could play in tackling climate change and responding to other pressing issues such as Russia's invasion of Ukraine.""We need to recognize that global corporations have reached such a size and such an importance that … with their leadership on climate change and in their response to Ukraine, they can provide global norms of behavior that will protect public populations,"" he said.On how he would advise firms looking to reduce their emissions, Dickinson said they should ""do more, do it now, and try and own this.""""Climate change is like the internet,"" he continued. ""It gets bigger every year, it never goes away, and you have to learn to make money from it.""Read more about energy from CNBC ProWith many companies — not to mention households — beginning to feel the pinch of rising energy bills, Dickinson went on to sketch out a scenario in which a firm's approach to energy use would be crucial.""Energy is expensive — it's actually getting more expensive,"" he said. ""And as governments respond, there will be increasing taxation and regulation of energy.""""A bit like the cost of cigarettes, let's just imagine that energy is going to get more and more expensive … until it's renewable,"" he said.""In that journey, there is only upside for any company that looks at increasing its energy efficiency, reducing the energy in its products and services.""The gains for a business could be ""absolutely enormous"" he went on to state.""In every single sector and category, companies, I believe, can win market share and increase margin by focusing on energy efficiency.""","Climate change isn't party political and people are realizing it's not a 'left-wing plot,' charity founder says."
"Whether you're on the hunt for a vacation property as travel reopens, or you want a store for your cash as stocks somersault, Europe can offer a host of compelling second-home destinations.From access to fine food and rich culture to stunning scenery, the continent has something for everyone — and property purchasers are buying in.In the past year, Europe's prime real estate market has grown 5.6% amid continued demand, according to new research from international real estate agency Knight Frank. Meanwhile, rental returns in the region's most in-demand vacation destinations continue to rise.""For second homeowners, Europe's cities offer culture, connectivity and a good quality of life, whilst for investors they offer strong tenant occupancy and relatively low purchase costs,"" Kate Everett-Allen, head of international residential research at Knight Frank, told CNBC.The growth comes as investors search for safe-haven assets and income-generating investments as inflation soars — with interest extending across the Atlantic.Yet, as with any investment, purchasing a property is a big financial commitment, and knowing where to start can be tricky. Using data from Knight Frank, here's CNBC's rundown of the best places to start looking for a second property in Europe.Top cities for property price growthIf you're in the market for capital growth, consider casting your eye to the ever-alluring cities of Western Europe.Price growth in Europe's prime real estate markets — categorized as the top 5% of the market in value terms — has been among the highest in the world in the past year, according to Knight Frank.Berlin, Germany has seen the strongest price growth in the year to June 2022, with high-end properties appreciating 12.6% on average.Berlin property prices have appreciated at the fastest click across Europe's prime real estate market, according to Knight Frank.Nikada | Istock | Getty ImagesThe annual uptick puts the German capital's growth rate well ahead that of other global cities like New York (7.3%), Hong Kong (3.1%) and London (2.5%).Elsewhere, property price appreciation has been strong this year across the high-end real estate markets of Edinburgh (11.2%), Dublin (10.2%), Zurich (10.2%) and Paris (8.9%).The slowdown will be felt most in lower price brackets and domestic-driven markets.The continued rise of the region's top cities comes as growth rates slow across the global property market amid rising interest rates and a darkening economic outlook. However, Knight Frank said the slowdown has not yet translated to property prices — with the luxury sector proving particularly resilient.""Rising mortgage rates and a weakening global economic outlook are cooling some of the ebullience of the last two years, but the slowdown will be felt most in lower price brackets and domestic-driven markets,"" the report noted.Making an overseas property purchase is not without its challenges, however. Before embarking on an overseas purchase, prospective buyers should consider foreign exchange rates, local mortgages and taxes, ownership and sales costs, as well as any restrictions on foreign owners.Best locations for rental returnsIf you're looking for a buy-to-let property, Europe's prime vacation destinations may just fit the bill, with the Mediterranean coast an eternal favorite for holidaymakers.On top of the above considerations, there are a few other factors to consider when purchasing a rental holiday home. Those include location — both in terms of proximity to local amenities and accessibility to international airports — year-round demand to minimize void periods, and market liquidity.Italy's Tuscany and Liguria regions, France's south coast and French Alps, and Spain's Barcelona, Marbella and Balearic Islands are among some of the top locations in Europe to invest in a buy-to-let property based on those criteria, according to Knight Frank.Tuscany, Italy, home to rolling hills, glorious food and one of the world's greatest collections of Rennaissance art, is a perennial favorite for overseas property buyers.Slawomir Olzacki | Eyeem | Getty ImagesTuscany alone recorded a 30% year-on-year increase in enquiries in 2021, with the region accounting for two-thirds of all property searches within Italy.The Tuscan city of Lucca on the Serchio River is a particularly popular choice, representing a quarter of buyer requests in 2021 alongside Pisa and Bolgheri, and recording annual price growth of 6%, according to Knight Frank.The average property price sought by Knight Frank buyers in Lucca and Pisa now stands at around 1.7 million euros ($1.8 million) — well below the Tuscany region's 3.7 million euro average. Meantime, average daily rental rates stand at 471 euros. Buyer competition heats upA strengthening dollar and weaker euro is heating up Europe's property market, with the continent becoming an increasingly appealing destination not only for U.S. holidaymakers but also American real estate investors.The euro is currently trading at close to parity with the dollar, meaning U.S. buyers are enjoying a 15-20% discount on property prices in any of the 19 euro zone member countries compared to July 2021.And it shows. In the first five months of 2022, Knight Frank recorded a 37% increase in searches by U.S.-based buyers for French properties. Now, their search pool is expanding across the continent.We're now seeing U.S. buyers target traditional sunbelt areas, which is a departure from the norm.Mark Harveyhead of international, Knight Frank""In the past, U.S. interest has been focused on cities offering culture and connectivity from Rome to Paris and from Barcelona to Florence,"" Mark Harvey, Knight Frank's head of international, said.""But we're now seeing U.S. buyers target traditional sunbelt areas, which is a departure from the norm,"" he continued, citing growing interest in destinations such as Mallorca, Sardinia and the South of France.With the U.S. Federal Reserve tightening monetary policy at a faster clip than the European Central Bank, that dollar rally could be set to continue, making Europe a competitive investment destination for some time to come.""Further rate hikes by the Federal Reserve will see the dollar strengthen further against the euro leading to potentially greater discounts for U.S. buyers,"" Everett-Allen added.",From luxury city escapes to vacation rentals: These are Europe's best destinations to buy a second home.
"Aug 2 (Reuters) - Candidates backed by Donald Trump prevailed in multiple Republican primaries on Tuesday, while a statewide ballot initiative in Kansas that would have allowed new restrictions on abortion was soundly rejected.The results showed that the former president, and his false claims that the 2020 election was tainted by fraud, still hold sway over Republican voters, while also suggesting that anger over the Supreme Court's June decision to end the nationwide constitutional right to abortion could fire up Democrats ahead of the November midterm elections.In Michigan, Tudor Dixon, a conservative commentator who has echoed Trump's election claims, won the Republican nomination for governor and will face Democratic Governor Gretchen Whitmer in one of the fall's most high-profile races that will also revolve around abortion rights in the state.Register now for FREE unlimited access to Reuters.comKansas Attorney General Derek Schmidt, another Trump-backed candidate, secured the Republican nomination for governor. He will face Democratic Governor Laura Kelly in November in what is expected to be a highly competitive race.With 85% of the estimated vote counted, 61.1% of Kansas voters had cast ballots in support of the state constitution's abortion protections, with 38.9% voting to remove them, a resounding victory for abortion rights advocates in a strongly conservative state. read more Unlike the Republican gubernatorial primaries, Kansas' abortion initiative reflected the choices of voters of both major political parties, as well as independents.In Missouri, Attorney General Eric Schmitt won the Republican nomination for U.S. Senate, boosting his party's chances of holding the seat after scandal-hit former Governor Eric Greitens finished well behind.TEST OF TRUMP INFLUENCETuesday's elections, including key contests in Arizona and Washington state, represent the latest test of Trump's sway over the Republican electorate. Several Trump-backed candidates have embraced the former president's falsehoods about voter fraud, raising concerns among some Republicans that they could be too extreme to defeat Democrats on Nov. 8. read more Two Republican U.S. representatives who voted to impeach Trump after the Jan. 6, 2021, assault on the Capitol by his supporters, Peter Meijer of Michigan and Jamie Herrera Beutler of Washington, also faced Trump-endorsed primary challengers.With an economy teetering on the brink of recession and inflation surging, just 38% of Americans approve of President Joe Biden's job performance, according to a Reuters/Ipsos poll completed on Tuesday - still near Biden's record low of 36%, hit in May. One in three voters said the biggest problem facing the United States today is the economy.Biden's unpopularity is weighing on Democrats heading into the November general election, when Republicans are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.As he flirts publicly with the possibility of running for president again in 2024, Trump has endorsed more than 200 candidates. Most are safe bets - incumbent Republicans in conservative districts - but even in competitive races he has had a winning record.Trump-backed nominees have won Republican primaries for U.S. Senate in Georgia, North Carolina, Ohio and Pennsylvania, though his picks lost nominating contests for Georgia governor and for the U.S. House in South Carolina.""Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image,"" said Alex Conant, a Republican strategist. ""Republicans who run against Trump tend to get trampled.""On Tuesday, Arizona voters were picking between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump's false claims that his 2020 election defeat was the result of fraud and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.Arizona Secretary of State Katie Hobbs, who built a national profile by vociferously denying Trump's allegations, easily won the Democratic gubernatorial nomination, Edison Research projected.The race to replace her as the state's top election official also includes a Trump-endorsed candidate, state Representative Mark Finchem, who was present at Trump's Jan. 6, 2021, speech in Washington that preceded the U.S. Capitol attack. He wrote on Twitter on Thursday, ""Trump won,"" prompting a Democratic candidate, Adrian Fontes, to call him a ""traitor.""Arizona Republicans were also picking a challenger to take on Democratic U.S. Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents.Blake Masters, a former tech executive who has backed Trump's false fraud claims, has Trump's endorsement and the backing of tech billionaire Peter Thiel. He is leading in polls against Jim Lamon, a former power company executive, and Attorney General Mark Brnovich, whom Trump blames for not reversing Biden's 2020 statewide victory.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Richard Cowan and Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Editing by Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.","Trump-backed candidates prevail, while Kansas votes to preserve abortion rights."
"Women shop for clothes on a store in a shopping mall in Sydney's central business district (CBD) Australia, February 5, 2018. Picture taken February 5, 2018. REUTERS/Daniel Munoz/Register now for FREE unlimited access to Reuters.comSYDNEY, Aug 3 (Reuters) - Australian retail sales posted a solid rise in real terms last quarter even as swelling prices ate up more of the consumer dollar, though there are signs that higher borrowing costs are finally turning the tide on spending.Data from the Australian Bureau of Statistics on Wednesday showed inflation-adjusted retail sales had risen 1.4% in the June quarter to A$94.3 billion ($65.1 billion). That topped market forecasts of a 1.2% increase and will make a valuable contribution to economic growth.Spending was strongest in eating out, continuing a recovery since the easing of coronavirus restrictions, while sales of household goods and food fell back.Register now for FREE unlimited access to Reuters.comThe upbeat result will offer some comfort to the Reserve Bank of Australia (RBA) that consumers can withstand its aggressive tightening of monetary policy, though more timely data suggests some people are cutting back on non-essentials.The central bank lifted interest rates by another 50 basis points to 1.85% on Tuesday and flagged more to come, but also acknowledged that risks to economic growth were mounting. read more Markets responded by lengthening the odds on a further half-point hike in September, slightly favouring a move to 2.10%, though they still see a peak around 3.30% to 3.40% in March or April.Wednesday's retail data underlined the challenge the RBA faces on inflation: prices jumped 1.7%, on top of a 1.8% rise in the first quarter.The RBA has already saddled borrowers with 175 basis points of interest rate increases since May, easily the most aggressive tightening in three decades and a burden for Australians holding a record A$2 trillion in mortgage debt.The hikes delivered so far will add around A$560 a month in repayments to the average A$620,000 mortgage, and that is on top of surging bills for energy and food.House prices have also jolted into reverse, with values in Sydney falling at the fastest pace in 40 years. read more Harry Ottley, an economist at Commonwealth Bank of Australia (CBA), noted internal data on the bank's cards showed spending on recreation, general retail, household goods and eating and drinking out had all eased over July.""It is likely the increased cost to mortgage holders will put more downward pressure on household consumption,"" he said. ""We are now seeing a moderation alongside other forward looking data like home prices, home lending and building approvals.""This is a major reason why CBA expects interest rates to peak around 2.60%, well short of market pricing.($1 = 1.4486 Australian dollars)Register now for FREE unlimited access to Reuters.comReporting by Wayne Cole; Editing by Tom Hogue and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.","Australians kept shopping in Q2, but wallets may now be closing."
"James Bullard, president of the St. Louis Federal Reserve Bank, speaks during an interview with Reuters in Boston, Massachusetts on August 2, 2013. REUTERS/Brian SnyderRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - If inflation does not respond to the Federal Reserve's interest rate increases by easing as expected, then rates will have to remain ""higher for longer,"" St. Louis Federal Reserve President James Bullard said on Tuesday.Bullard, in response to questions at an event in New York, also said he expects growth in the second half of this year to pick up from the first half, which featured contractions in overall output in both the first and second quarters.Register now for FREE unlimited access to Reuters.comReporting by Dan Burns; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Fed's Bullard: Rates will need to be 'higher for longer' if inflation does not recede.
"U.S. Updated on: August 2, 2022 / 11:18 AM / CBS News Health officials around the world are racing to curb an outbreak of monkeypox cases that has swelled into the thousands, deploying both vaccines and treatments for a disease that can lead to weeks of painful rashes and lesions for those infected.Some cities facing outbreaks have now declared emergencies to battle the virus, as well as the states of New York, Illinois and California. The White House announced on Aug. 2 that it would tap officials from the Centers for Disease Control and Prevention and the Federal Emergency Management Agency to coordinate the ""whole-of-government response"" to the outbreak. While monkeypox infections have been seen before in the U.S. — in two travelers from Nigeria last year and in 47 cases that were linked to imported animals back in 2003 — the current outbreak is by far the largest recorded in American history and is expected to continue to grow.Here's what's known about the monkeypox outbreak and response: How many cases have there been this year in the U.S.?At least 5,811 cases were tallied by the Centers for Disease Control and Prevention across all but two states — Montana and Wyoming — as of Aug. 1.New York is the state with the largest total number of reported cases, making up close to a quarter of the nation's overall tally.How does it spread?Officials say the ""vast majority"" of cases in the current outbreak have spread among men who have sex with men so far, generally through skin-to-skin intimate contact or by sharing contaminated towels and bedding. A handful of cases have also been reported in young children and pregnant women, who are believed to be at higher risk of severe outcomes from the disease.  However, the CDC says it has demographic data only a fraction of reported cases. Unlike its counterparts abroad in places like the United Kingdom and Europe, the agency must rely on details collected and reported ""voluntarily"" to the agency by local health departments.How severe is a monkeypox infection?As of Aug. 1, no deaths have been reported in the outbreak so far in the U.S. among the thousands who have been infected by monkeypox. A handful of deaths have been reported abroad, including in Africa, South America, and Europe.Compared to its more lethal cousin smallpox, officials have said that cases often resolve after a few weeks without additional treatment. The variant linked to the current outbreak has been spreading in Nigeria since 2017, where around 3% of the people who contracted monkeypox died.  After an incubation period, which the CDC estimates is a little longer than a week on average, between exposure to an infected person and the first noticeable signs of the infection, patients generally must endure painful lesions as well as other symptoms — like fever and swollen lymph nodes — until their rashes scab over and heal. Like other poxviruses, monkeypox can leave scars.However, authorities have been careful not to downplay the danger monkeypox's complications might pose beyond its physical pain.For example, in the United Kingdom, authorities reported that some hospitalized patients faced ""severe swelling"" that might strangle circulation to the penis. In Spain, some patients were hospitalized due to bacterial infections of their sores. The CDC says that the patients who are at ""especially increased risk"" for severe monkeypox disease include: Young children under 8 years oldPeople who are pregnant or have a compromised immune systemPeople who have a history of eczema or atopic dermatitisThe agency also says that people living with HIV who have caught monkeypox during the current outbreak are not getting a more severe disease, as long as they are on treatment that is suppressing HIV.  What tests are available for monkeypox cases? Monkeypox cases to date in the U.S. have been diagnosed using CDC's lab test, which can tell whether someone is infected by an orthopoxvirus – the family of bugs that includes both monkeypox and others like smallpox. Those tests rely on doctors ""vigorously"" swabbing suspected lesions for samples that can be sent off to their state's public health labs that have launched the agency's test, as well as a growing number of commercial laboratories.Some labs have also raced to develop their own tests for suspected monkeypox cases, including via saliva or blood samples, though the Food and Drug Administration currently warns these methods ""may lead to false test results.""""We are actively doing studies to evaluate what other kinds of tests could be available, whether they are saliva tests, throat swabs, blood tests, but right now, we don't have the data to recommend using tests of those kinds,"" CDC Director Dr. Rochelle Walensky told reporters on July 15.What vaccines are available for monkeypox cases?The Biden administration has deployed two vaccines, originally stockpiled by the country to prepare for a potential smallpox emergency, known as Jynneos and ACAM2000. Both rely on versions of less-deadly relatives of smallpox to immunize their recipients. But unlike ACAM2000, Bavarian Nordic's Jynneos vaccine – which was approved by the FDA in 2019 to specifically combat monkeypox as well – carries far fewer risks because it relies on a version of the virus modified to prevent it from replicating and reduce its severity.Before the current outbreak, the U.S. had contracted Bavarian Nordic to manufacture ""bulk vaccine"" worth some 13 million doses of the company's Jynneos shots. The administration has now ordered some 7 million doses of that vaccine to be filled into vials and shipped to them from Bavarian Nordic through mid-2023. For now, federal officials have acknowledged that demand for the Jynneos far outstrips supply for the shots. Doses are being rationed for vaccinated either known close contacts of cases or others ""presumed"" to be at risk of having come into contact with a case, like having multiple recent sexual partners in a jurisdiction facing an outbreak.Some jurisdictions have announced plans to try and stretch their supply relying on only offering one dose for now of the two-shot vaccine, despite the FDA discouraging the move. More than 736,000 additional doses were made available for states on July 29, after an FDA inspection cleared use of a tranche of vaccine that had already been filled into vials from Bavarian Nordic. Further waves of vaccinations will need to wait for doses the Biden administration ordered filled into vials back in June, which the company says it expects will be delivered by the end of the year. The company also says it has supplied ""nearly 30 million doses"" of vaccine in the past, which have now expired. A spokesperson for the Department of Health and Human Services said on August 2 in a statement that it was working with Bavarian Nordic to test those doses to see if they can be salvaged, but acknowledged it was ""highly unlikely that these doses remain viable.""Can children be vaccinated for monkeypox?Children are not currently FDA approved to be vaccinated with Jynneos, although CDC officials disclosed earlier this year to a panel of its outside vaccine advisers that at least one pediatric patient had been offered a shot. Agency officials and local health systems have since confirmed other children who were close contacts of monkeypox cases have also been offered shots.Spokespeople for the FDA and CDC have declined to confirm how many requests have been granted for the use of the vaccine in children.  A spokesperson for Bavarian Nordic declined to offer details about whether it planned to trial the vaccine in children, but did say it planned to collect data on CDC's use of the shots. Monkeypox cases expected to climb across the nation as long lines form for vaccines 02:52 Are people who are vaccinated for smallpox protected against monkeypox?While people in the current outbreak are now being vaccinated with vaccines initially designed to combat smallpox, like ACAM200 or Jynneos, officials have cautioned that Americans who were vaccinated for smallpox decades ago are unlikely to be protected from a monkeypox infection.Though the U.S. stopped routine mass vaccination against smallpox in 1972, the CDC still recommends that scientists who are at risk of exposure because they work with orthopoxviruses — including monkeypox — in the lab get revaccinated every three years.In the current outbreak, the CDC says some cases had been vaccinated against smallpox ""decades prior."" And in the 2003 outbreak, CDC researchers did not find evidence that previous smallpox vaccination — among those infected — reduced the odds of patients facing severe disease or being hospitalized.""We do expect that people who have received the vaccine, even as children, will have some remaining immunity. But that is something that we're very interested in looking at, closely monitoring during this outbreak, to really define exactly how long that protection lasts and how much benefit people who have received vaccination many decades prior may still receive,"" said the CDC's Brett Petersen said on June 30, in a webinar with clinicians.How are monkeypox cases treated? While many monkeypox cases eventually resolve without medications, aside from pain relievers, the Biden administration has allowed doctors to request stockpiled courses of several treatments that have been developed in the past for smallpox.The most commonly requested of those drugs is the antiviral tecovirimat or TPOXX, which was developed out of federal research launched in 2002 to head off a potential bioterrorism attack. The FDA approved tecovirimat in 2018 to treat smallpox cases. However, that approval was in large part actually based on studies in animals infected with monkeypox and rabbitpox, with the regulator deeming it ""not feasible or ethical to conduct efficacy trials in humans"" for smallpox. Doctors looking to get courses of tecovirimat for their monkeypox patients must request them from the CDC under an ""expanded access"" protocol, which it recently worked with the FDA to streamline.The agency says that use of the drug is being considered for people with severe disease, or who have an additional risk factor such as a compromised immune system or lesions in a part of the body that ""might constitute a special hazard"" like on the genitals.Can it be contained?While health officials expect the number of monkeypox cases to continue to climb through at least August, authorities say they still hope to control the current outbreak.""There is community spread occurring. And while public health officials are working around the clock to contain the outbreak, it's important to say that I think we expect that these numbers will continue to increase,"" the CDC's Jennifer McQuiston told a webinar hosted by the American Medical Association on July 14.However, with more than 13,000 cases in the outbreak around the world as of July 18, some experts are skeptical public health authorities will be able to stem the spread of the virus. ""I think at this point, we've failed to contain this. We're now at the cusp of this becoming an endemic virus, where this now becomes something that's persistent that we need to continue to deal with,"" former FDA Commissioner Scott Gottlieb told ""Face the Nation"" on July 17.""This has spread more broadly in the community. I wouldn't be surprised if there's thousands of cases right now,"" Gottlieb added later. Alexander Tin CBS News reporter covering public health and the pandemic.","Monkeypox: What we know about the outbreak, vaccinations and treatments."
"SummaryCompaniesTelangana to add 2 million acres under oil palm in 4-yearsTelangana could become world's 5th biggest oil palm growerSubsidies, higher returns lure farmers towards oil palmLimited seedling supply restricts oil palm expansionSATHUPALLY, India, August 3 (Reuters) - Pullarao Daravathu and thousands of fellow farmers from Telangana in India's south are busy planting oil palms as their home state aims to add more area under the controversial crop within four years than the entire country has in decades.Telangana is targeting 2 million additional acres under oil palm cultivation in the next four years, and is going to great lengths to achieve this goal - from building large dams and irrigation canals to importing millions of germinated sprouts.Generous government subsidies and bumper profit potential compared to other crops are also encouraging farmers like Daravathu to shift to oil palms.Register now for FREE unlimited access to Reuters.com""Oil palm is giving more than 200,000 Indian rupees ($2,536) per acre return to farmers who planted the crop some years back. In rice, I am struggling to earn 40,000 rupees even after putting in lots of effort,"" said Daravathu, who was planting oil palm on his 5-acre farm at Sathupally, nearly 300 km (186 miles) east of Hyderabad, the state capital.The recent rally in palm oil prices has more than doubled prices of fresh fruit bunches, which farmers sell to oil mills.For years, price volatility, water scarcity and a gestation period of nearly four years limited oil palm plantation in India to less than 1 million acres, mostly in coastal Andhra Pradesh, the state that Telangana was carved out of in 2014.But Telangana, which occupies an inland region on the Deccan Plateau, is now keen to emerge as India's main palm oil hub, with an area target that would place the state as the fifth largest oil palm grower globally – from a negligible base currently.The drive could reduce India's mammoth vegetable oil imports, which cost the country a record $18.9 billion a year ago and widened the national trade deficit.India fulfils two-thirds of its vegetable oil demand through imports of around 14 million tonnes annually, including around 8.5 million tonnes of palm oil.The federal government is keen to increase palm oil output to slash those expensive imports, which lifted inflation this year to multi-year highs after top supplier Indonesia abruptly halted exports.""In the next four years, most of the palm planting would be done, and after 7-8 years Telangana could be producing 4 million tonnes of palm oil,"" L Venkatram Reddy, director of Horticulture at the state government told Reuters.India currently produces less than 300,000 tonnes of palm oil and relies on imports from Indonesia, Malaysia and Thailand to fulfil its requirements.Even if Telangana manages to grow oil palm on only 1 million acres and produces 2 million tonnes of palm oil, it would be a huge achievement, said Chava Venkateswara Rao of Godrej Agrovet Ltd (GODE.NS), the country's biggest palm oil producer.Until last year, the country was adding around 35,000 acres under oil palm every year.WATER FIRSTSome areas in Telangana have sufficient water for thirsty oil palms thanks to the rivers such as the Godavari, Krishna and Bhima. But many pockets lacked sufficient water to cater to the oil palm's need of up to 265 litres per tree per day.To overcome that, the state has built massive lift irrigation projects and a canal network that is now allowing farmers to plant oil palms across most of the state.""We used to face water scarcity in summer season. Now, with the Kaleshwaram lift irrigation project, we have ample water for oil palm,"" said farmer Bollampalli Venkateshwar Rao, who planted oil palms on 12 acres.The Kaleshwaram irrigation project, which is nearly complete, cost the state 1.15 trillion rupees ($14.44 billion).Authorities are giving permission to cultivate oil palms only after farmers install water-conserving micro irrigation systems, said Reddy, adding ""The central and state government's subsidies are covering almost the entire cost of drip irrigation system.""The shift towards oil palm from paddy rice and other crops could help the state to bring down annual paddy procurement by around 2.5 million tonnes, and trim the electricity bill for lift irrigation projects by 15 billion rupees as drip-fed oil palms need less water than paddy, Reddy said.Ravi Mathur, who heads the Indian Institute of Oil Palm Research (IIOPR), a government-backed body spearheading the oil palm push, said the lift irrigation project has made oil palm planting feasible in areas previously unsuitable for the crop because of water scarcity.PLANTING MATERIAL SCARCITYWhile thousands of farmers are keen to shift to oil palm, the availability of seedlings is limited, and preparing them is a lengthy process which takes almost a year.Companies operating in Telangana imported 12.5 million sprouts last year and made seedlings for around 200,000 acres this year, said an official with the state-run TS Oilfed, the country's biggest importer of germinated sproutsThe state is aiming to import 15 million sprouts this year - mainly sourced from Indonesia, Malaysia, Thailand and Costa Rica - and 50 million next year to achieve the target, he said.But only handful of companies are supplying germinated sprouts.""There is sudden surge in demand following a rally in palm oil prices. Companies are not able to supply as much we need this year,"" said Sougata Niyogi, a top official at Godrej Agrovet. ""The supply situation would become more comfortable next year.""($1 = 78.8710 Indian rupees)Register now for FREE unlimited access to Reuters.comReporting by Rajendra Jadhav; editing by Gavin Maguire and Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Indian state bets big on oil palm to cut $19 billion vegoil imports.
"A view of the press room of the Presidential building as a screen shows Taiwan's President Tsai Ing-wen, U.S. House of Representatives Speaker Nancy Pelosi and American Institute in Taiwan (AIT) Director Sandra Oudkirk, during a meeting at the presidential office in Taipei, Taiwan August 3, 2022. REUTERS/Ann Wang
Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - Taiwan president's Tsai Ing-wen on Wednesday thanked visiting U.S. House speaker Nancy Pelosi for her concrete actions to support Taiwan at this critical moment and said the island will not back down in the face of heightened military threats.The pair met in Taipei on Wednesday as part of Pelosi's visit to the island which has drawn fierce criticism from China, and has prompted Beijing to announce a raft of military exercises and summon the U.S. ambassador.Tsai also told Pelosi on Wednesday that she is one of Taiwan's most devoted friends and thanked her for her unwavering support on the international stage.Tsai added that Taiwan is a reliable partner of the United States and will continue to work with the U.S. to strengthen collaboration in security, economic development and supply chains.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Writing by Martin Quin Pollard
Editing by Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.","Taiwan's Tsai thanks Pelosi for support, says island will not back down."
"Semiconductor chips are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration - RC2XQS9L5P9YRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 3 (Reuters Breakingviews) - A Chinese chipmaker is becoming Beijing's poster child for technological self-sufficiency. Hygon Information Technology (688041.SS) is readying a $1.6 billion float – the largest so far on Shanghai's STAR market this year. The company's controversial joint venture with U.S.-based AMD (AMD.O) formed back in 2016 gave it a leg-up in microprocessors, and the deal’s huge valuation premium spotlights its ongoing hope for success as it strikes out on its own.Hygon may be little-known outside the People's Republic, but it is a rising star at home. The company in 2018 debuted a cutting-edge processor on par with Intel (INTC.O) and AMD. Its partnership with the latter allowed Hygon to license advanced chip designs and sell its production to local hardware manufacturers including Lenovo (0992.HK). Escalating U.S.-China tensions have dealt a huge blow to the business, however. In 2019, Washington added both Hygon and its joint venture’s units onto the Entity List restricting them from U.S. exports. AMD says it has stopped selling products, providing services or transferring technology to the joint venture.The debutant’s challenge now is to become China's answer to AMD and more without the help of the U.S. giant. Proceeds from its initial public offering will mostly go towards research and development, a spend the company has been ramping up since its blacklisting. Between 2019 and 2021, Hygon invested 3.5 billion yuan ($519 million) in R&D, some 95% of combined revenue over the period. Its top line, in the meantime, is booming: sales last year more than doubled. The company also swung to a net profit from a net loss a year earlier.Register now for FREE unlimited access to Reuters.comHygon’s fortunes also will be felt in Beijing, where President Xi Jinping wants to reduce his country's reliance on foreign technology, especially in advanced semiconductors vital to strategic areas like artificial intelligence. Despite funnelling billions of dollars into developing local chipmaking, China is still technologically years behind leaders like Intel or Taiwan's TSMC (2330.TW), the industry behemoth U.S. House of Representatives Speaker Nancy Pelosi may visit today as part of her contentious visit read more to the self-governed island.Hygon will debut at a valuation over 300 times its 2021 earnings, an astronomical premium to global peers and almost three times the average of where four local listed rivals trade. At least there is plenty of vested interest in its triumph.Follow @mak_robyn on TwitterCONTEXT NEWSHygon Information Technology is due to open books on Aug. 3 for its initial public offering on the Shanghai STAR market, according to financial publication IFR. The company, which designs and manufactures microprocessors, plans to raise 10.8 billion yuan ($1.6 billion) in what will be STAR’s biggest offering in 2022.As part of the deal, Hygon is selling 300 million shares, or 12.9% of the enlarged capital, at 36 yuan each. The implied valuation is roughly 316 times its 2021 earnings, according to the company.In 2019, the U.S. Department of Commerce added the company, as well as units of its joint venture with U.S. chipmaker AMD onto its Entity list, which restricts access to U.S. goods and services.Register now for FREE unlimited access to Reuters.comEditing by Una Galani and Katrina HamlinOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.Robyn MakThomson ReutersRobyn Mak joined Reuters Breakingviews in 2013. Previously, she was a Research Associate for the Global Policy Programs at the Asia Society in New York where she focused on US-Iran relations, US-Myanmar relations and sustainability issues in Asia. She has also worked as a researcher at the Carnegie Endowment for International Peace in Washington DC and interned at several consulting firms, including the Albright Stonebridge Group. She holds a masters degree in international economics and international relations from the Johns Hopkins School of Advanced International Studies and is a magna cum laude graduate of New York University.",Chinese chip IPO is bet on double self-sufficiency.
"LONDON — European stocks are expected to open lower Wednesday, continuing the regional trend downward this week.The U.K.'s FTSE index is seen 26 points lower at 7,394, Germany's DAX down 34 points at 13,421, France's CAC 40 down 29 points at 6,385 and Italy's FTSE MIB 44 points lower at 22,290, according to data from IG.The lower open for European stocks comes after markets pulled back slightly on Tuesday, tracking risk-off sentiment globally as investors assess whether last month's rally has further to run.In the United States, the three major averages fell for a second consecutive day yesterday, although Dow Jones Industrial Average futures were higher last night.In regular hours trading, House Speaker Nancy Pelosi's controversial visit to Taiwan weighed on investors, who worried it would further strain already tense U.S.-China relations. China had spent weeks warning her not to make the trip.Markets fell further after three Federal Reserve presidents hinted that further rate hikes would be necessary to combat high inflation.Stock picks and investing trends from CNBC Pro:Overnight, shares in the Asia-Pacific were mostly higher Wednesday, with mainland China markets leading gains despite Pelosi's trip to Taiwan, which is being closely watched by Beijing.China's Foreign Ministry spokesperson Hua Chunying tweeted that Pelosi's visit was a ""major political provocation,"" while a spokesperson for the People's Liberation Army's Eastern Theatre Command said it would conduct ""a series of joint military operations around the Taiwan Island from the evening of August 2."" Those operations include long-range combat fire live shooting in the Taiwan Strait and conventional missile firepower test launching, the statement said.It's a busy day for earnings in Europe, with Commerzbank, SocGen, BMW, Banco BPM, Siemens Healthineers and Veolia and Wolters Kluwer among those companies reporting. On the data front, euro zone producer prices and retail sales data for June are set to be released.— CNBC's Tanaya Macheel and Abigail Ng contributed to this report.",European markets head for lower open as negative sentiment persists.
"get the free app Updated on: August 3, 2022 / 12:17 AM / CBS News Primaries test Trump's hold on Republican Party Primaries test Trump's hold on Republican Party 02:15 Voters were cast Tuesday in five states in some of the states that were battlegrounds in 2020 — and will be again in 2024. Kansas voters voted to preserve abortion access to for women Tuesday night, as abortion faced its first test at the ballot box since the Supreme Court struck down Roe v. Wade. With former President Donald Trump's influence looming large in some of Tuesday's primaries, a CBS News poll released Tuesday showed that for Republicans, a Trump endorsement is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans. ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriCBS News projects that Attorney General Eric Schmitt, who has been leading the crowded field, wins the Republican nomination for the open Senate seat in Missouri. Eric Greitens, the former governor who resigned in 2018 and has faced allegations of domestic abuse, led early in the race, but an $11 million ad blitz by two anti-Greitens groups chipped it away.On the eve of the primary, Trump issued a kind of split endorsement in the race, throwing his support behind ""ERIC."" Both Eric Schmitt and Eric Greitens quickly claimed they'd won his backing.In Missouri's 1st Congressional District, CBS News projects incumbent Rep. Cori Bush,  who unseated a longtime incumbent in 2020, will win her primary. Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.In the race to take on Gov. Gretchen Whitmer, CBS News projects Tudor Dixon will win the Republican nomination. Dixon, backed by Trump, had been seen by Republican strategists as the strongest candidate to take on Whitmer. Among the Republicans Dixon defeated was Ryan Kelley, who was arrested in June related to his participation in the Jan. 6 attack on the U.S. Capitol. ""Now we have the opportunity to truly hold Gretchen Whitmer accountable for the pain she has inflicted on every one of us in the past three years,"" Dixon said at her election night watch party in Grand Rapids, Mich., referring to the lockdowns of schools imposed during the COVID-19 pandemic.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasKansas voted to preserve abortion access, voting ""no"" on the ability to amend the state constitution, marking the first time a state has voted on abortion, since the Supreme Court struck down Roe v. Wade.Kansas Democratic Party Chairwoman Vicki Hiatt celebrated the win for abortion access, saying in a statement, ""This outcome affirms what we know is true: Kansans want common sense leadership that will protect their right to keep politicians out of their health care decisions.""In 2019, Kansas' state Supreme Court ruled that the right to an abortion is protected in the state constitution's bill of rights. Voters were deciding whether to allow the constitution to be amended in order to ban abortion rights.    6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    Updated 10:07 PM U.S. Senate Missouri Republican primary: CBS News projects Eric Schmitt wins CBS News projects Eric Schmitt will win the Republican nomination for U.S. Senate in Missouri.   Updated 9m ago U.S. Senate Missouri Democratic primary: CBS News projects Trudy Busch Valentine wins CBS News projects Trudy Busch Valentine wins the Democratic primary for U.S. Senate in Missouri.    Updated 10:56 PM Missouri 1st Congressional District Democratic primary: CBS News projects Cori Bush wins CBS News projects Cori Bush wins the Democratic primary in Missouri's 1st Congressional District.    Updated 10:42 PM CBS News projects Kansas voters reject amending constitution on abortion CBS News projects ""No"" wins, meaning the state constitution will remain as is, reaffirming the right to an abortion.   Updated 9:03 PM Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    Updated 9:48 PM Michigan Republican governor primary: CBS News projects Tudor Dixon will win CBS News projects Tudor Dixon will win the Michigan Republican primary for governor   6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    Updated 10:56 PM Michigan 11th Congressional District Democratic primary: CBS News projects Haley Stevens wins CBS News projects Haley Stevens wins the Democratic nomination Michigan's 11th Congressional District.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Live Updates: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"A worker adjusts an ASEAN flag at a meeting hall in Kuala Lumpur, Malaysia, October 28, 2021. REUTERS/Lim Huey TengRegister now for FREE unlimited access to Reuters.comPHNOM PENH, Aug 3 (Reuters) - The Association of Southeast Asian Nations (ASEAN) will be forced to reconsider a peace plan agreed with Myanmar if the country's military rulers conduct more executions of prisoners, Cambodian Prime Minister Hun Sen said on Wednesday.The 10-nation bloc had been pushing for Myanmar to adhere to a five-point peace ""consensus"" it agreed to last year and has condemned the recent execution of four democracy activists by the junta.""If more prisoners are executed, we will be forced to rethink...our role vis a vis ASEAN's five-point consensus,"" said Hun Sen, who is the current chair of ASEAN and was speaking at the start of a meeting of the group's foreign ministers.Register now for FREE unlimited access to Reuters.comHun Sen said that ASEAN's unity had been challenged by the political and security implications of the crisis in Myanmar, which has spiralled into an economic and humanitarian crisis.The prime minister said that while the five-point consensus had ""not advanced to everyone's wishes"" there had been some progress including in providing humanitarian aid.But he went on to say the current situation had ""changed dramatically"" and could be seen as even worse than before the peace agreement because of the junta's execution of the activists.Cambodia along with other ASEAN member states ""are deeply disappointed and disturbed by the execution of those opposition activists, despite the appeals from me and others for the death sentences to be reconsidered,"" said Hun Sen.Myanmar's military last week defended the execution of the activists as ""justice for the people"", brushing off a deluge of international condemnation including by its closest neighbours.The military said it had executed the activists for aiding ""terror acts"" by a civilian resistance movement, Myanmar's first executions in decades. read more Myanmar will not be represented at this week's meeting, a spokesperson for the ASEAN chair said on Monday, after its military rulers declined a proposal to send a non-junta representative instead.ASEAN has since late last year barred the Myanmar junta from joining its meetings due to its lack of progress in implementing the peace plan.Some other members of ASEAN, which has a tradition of non-interference in each other's internal affairs, have been increasingly strident in their criticism of the generals.Malaysian Foreign Minister Saifuddin Abdullah has described the executions as a crime against humanity and appearing to make ""a mockery"" of the ASEAN peace plan. read more The head of Myanmar's junta Min Aung Hlaing on Monday blamed instability related to the pandemic and internal violence for stalling efforts to implement the peace plan.The junta also extended a state of emergency put in place after seizing power from the elected government of Aung San Suu Kyi in February last year.Myanmar has been in chaos since then, with conflict spreading after the army crushed mostly peaceful protests in towns and cities. read more Register now for FREE unlimited access to Reuters.comReporting by Narin Sun in Phnom Penh; Writing by Ed Davies; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",ASEAN to rethink peace plan if Myanmar executes more prisoners - chair.
"An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 2, 2020. REUTERS/Tom BrennerRegister now for FREE unlimited access to Reuters.comBUENOS AIRES, Aug 2 (Reuters) - The U.S. Department of Justice (DOJ) on Tuesday asked for permission to confiscate an Iranian plane sold to Venezuelan owners and impounded in Argentina on suspicions it was linked to international terrorist groups, the agency said in a statement.The unannounced arrival of the plane in Argentina on June 8 sparked weeks of intrigue as well as concern within the Argentine government over its ties to Iran and Venezuela and companies sanctioned by the U.S. The plane was grounded by local authorities on landing. read more The confiscation request followed the unsealing of a July 19 warrant for the plane's seizure in the U.S. District Court for the District of Columbia, which alleged that the aircraft could be confiscated because it violated export control laws, the DOJ said.Register now for FREE unlimited access to Reuters.comThe DOJ said the U.S.-origin Boeing 747-300 aircraft is subject to sanctions as its sale from Iran's Mahan Air to Emtrasur last year, part of the Venezuelan Consortium of Aeronautical Industries and Air Services (Conviasa), violates U.S. export laws. Both companies are sanctioned by the United States for alleged collaboration with terrorist organizations.""The Department of Justice will not tolerate transactions that violate our sanctions and export laws,"" said Assistant Attorney General Matthew Olsen of the DOJ's National Security Division in the statement.Mahan Air is sanctioned for ties to the Islamic Revolutionary Guard Corps-Quds Force (IRGC-QF), a U.S.-designated terrorist organization. The U.S. sanctioned Conviasa in 2019 for its ties to Venezuelan President Nicolas Maduro's government.""The seizure of this aircraft demonstrates our determination to hold accountable those who seek to violate U.S. sanctions and export control laws,"" said U.S. Attorney Matthew Graves.Fourteen Venezuelans and five Iranians were traveling on the plane when it arrived in Buenos Aires. Seven of them are still detained in Argentina.Argentina's Foreign Ministry did not immediately respond to a request for comment.Register now for FREE unlimited access to Reuters.comReporting by Daniela Desantis and Walter Bianchi; Writing by Carolina Pulice; Editing by Brendan O'Boyle and Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.",U.S. asks Argentina to seize Venezuelan plane linked to Iran.
"U.S. House of Representatives Speaker Nancy Pelosi waves while leaving the parliament in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi told Taiwan's President Tsai Ing-wen on Wednesday that her visit to the island makes it unequivocally clear that the United States will not abandon Taiwan.Now more than ever, America's solidarity with Taiwan is crucial, Pelosi told Tsai, adding that America's determination to preserve democracy in Taiwan and the rest of the world remains iron-clad.Register now for FREE unlimited access to Reuters.comReporting by Yi-Mou Lee; Writing by Ryan Woo; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Pelosi says U.S. will not abandon Taiwan.
"U.S. August 3, 2022 / 12:01 AM / CBS News Vin Scully's treasures of baseball Vin Scully's treasures of baseball 05:19 Vin Scully, the iconic broadcaster who called Dodgers games for nearly seven decades, has died, the team announced. He was 94.Scully died at his home in Hidden Hills, California, the team said.""We have lost an icon,"" Los Angeles Dodgers president and CEO Stan Kasten said in a statement. ""The Dodgers' Vin Scully was one of the greatest voices in all of sports. He was a giant of a man, not only as a broadcaster, but as a humanitarian. He loved people. He loved life. He loved baseball and the Dodgers. And he loved his family. His voice will always be heard and etched in all of our minds forever."" Scully began calling Dodgers games in 1950, when they were still located in Brooklyn, New York, and retired after 67 years behind the microphone, at the age of 88, in 2016.Over the course of his Hall of Fame career, Scully delivered play-by-play and commentary for some of the most memorable moments in Major League Baseball history, including his iconic call of Hank Aaron's record-breaking 715th home run in 1974. ""What a marvelous moment for baseball, what a marvelous moment for Atlanta and the state of Georgia, what a marvelous moment for the country and the world,"" Scully said, as Aaron rounded the bases to overtake Babe Ruth as the league's all-time leading home run hitter. ""A black man is getting a standing ovation in the Deep South for breaking a record of an all-time baseball idol. And it is a great moment for all of us, and particularly for Henry Aaron."" Scully is survived by his five children, Kevin, Todd, Erin, Kelly and Catherine, 21 grandchildren and six great-grandchildren, the team said. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Vin Scully, legendary Dodgers broadcaster, dies at age 94."
"Lillian, 12, hands out pamphlets to urge residents to vote ""no"" on a proposed amendment to Kansas constitution that would assert there is no right to abortion, in Wichita, Kansas, U.S., July 10, 2022. REUTERS/Gabriella BorterRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Kansas voters on Tuesday rejected a state constitutional amendment that would have declared there is no right to abortion, NBC News projected, delivering a win to abortion rights advocates in the first statewide referendum on the issue since the U.S. Supreme Court overturned Roe v. Wade.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Kansas voters reject anti-abortion state constitutional amendment.
"A voter marks a ballot during the primary election and abortion referendum at a Wyandotte County polling station in Kansas City, Kansas, U.S. August 2, 2022. REUTERS/Eric CoxRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The fight over abortion rights and former President Donald Trump's influence loomed large as voters in several states went to the polls on Tuesday. Here are some takeaways from the latest 2022 midterm election primaries:ABORTION BATTLE LINES DRAWN IN MICHIGANIn the Michigan governor's race, there will be no middle ground when it comes to abortion rights.Tudor Dixon, a relative political unknown who received a last-minute endorsement from former President Donald Trump, emerged from the Republican pack on Tuesday to take on Democratic Governor Gretchen Whitmer in November’s general election.Register now for FREE unlimited access to Reuters.comWhitmer has made the U.S. Supreme Court's overturning of constitutional protection for abortion a centerpiece in her re-election campaign. Dixon supports a near-total ban on abortion, including for child victims of rape and incest, with the only exception for cases when the life of the mother is at risk.A legal battle is being waged in the state over enforcement of a 1931 abortion ban. At the same time, supporters of abortion rights are seeking to place a measure on the November ballot that would legalize abortion in the state.With just three months until the election, longtime Republican pollster Steve Mitchell said Dixon has enough time to mount a competitive challenge to Whitmer and should see a strong flow of campaign funds from outside the state.Dixon is a former businesswoman in the steel industry who has billed herself as a “conservative mom” of four who opposed COVID-19 lockdowns at schools. Mitchell said she could appeal to like-minded parents and make a strong foil to Whitmer, who often talks about her own role as a mother of daughters and also faced criticism for her coronavirus lockdown orders.“It’s going to be a fascinating race,” Mitchell said. “In my opinion, none of the men (in the Republican field) could have beaten Whitmer.”KANSAS SENDS SIGNALWith preserving abortion rights a rallying cry for Democratic candidates across the country, Republicans may have gotten a jarring wake-up call in Kansas about the issue’s potency.Voters soundly defeated a proposed state constitutional amendment that would have declared that there is no right to abortion. While the U.S. Supreme Court earlier this year overturned the Roe v. Wade decision that legalized abortion nationwide, the Kansas Supreme Court had found the state constitution independently protected abortion rights.While Kansas is conservative-leaning state that consistently votes Republican in presidential elections, it does have a Democratic governor, Laura Kelly, and a large suburban voting population in the Kansas City area.Since Roe was overturned, Democrats have hoped that the issue would galvanize voters nationwide, particularly in states such as Pennsylvania and Wisconsin where the legislatures are controlled by anti-abortion Republicans. Polls have consistently shown that a substantial majority of Americans support the right to abortion – at least during the first trimester of pregnancy.Republican pollster Sarah Longwell, who regularly conducts focus groups on the issue, said on Twitter that the Kansas results should worry Republican candidates who support abortion bans without exception.“This has gotta send a chill up the spine of the many GOP candidates running campaigns saying there should be no exceptions for rape, incest, or life of the mother,” Longwell posted.ERIC VS. ERICOne Eric won the Republican primary for U.S. Senate in Missouri and another Eric lost. As far as national Republicans are concerned, the right Eric prevailed.Eric Schmitt, the state attorney general, defeated former Missouri Governor Eric Greitens, whose campaign was marred by allegations of abuse by his ex-wife.Polls ahead of the primary showed that if Greitens were to win the nomination, he could struggle in a November matchup against the Democratic candidate and perhaps jeopardize a Senate seat that Republicans cannot afford to lose if they want to seize control of the chamber. A Republican-affiliated group launched a TV campaign to derail Greitens’ chances.None of that dissuaded Trump from taking the unusual tack on Monday of endorsing “ERIC” without specifying which one, leading both candidates to claim Trump’s support and giving Greitens a lifeline. read more Schmitt is now expected to win the seat handily this fall, sparing the party from having to divert resources to Missouri that it had earmarked for other Senate races.Republicans need a net gain of one seat to take control of the chamber.Register now for FREE unlimited access to Reuters.comReporting by James Oliphant; Editing by Colleen Jenkins and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Midterms: Takeaways from Tuesday's U.S. primary elections.
"Military police officers get into position for a drill on how to guide citizens to safety in the event of an attack, in Taipei, Taiwan July 22, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - Taiwan's cabinet on Wednesday said the military has increased its alertness level and authorities will make plans to ensure safety and stability around the island, after China announced a series of military exercises in response to U.S. House Speaker Nancy Pelosi's arrival in Taipei.Taiwan's cabinet also said its citizens should feel reassured and that a national stabilisation fund for the stock market will closely watch the situation and react in a timely manner.(This story corrects the description of Taiwan in the first paragraph to ""island"")Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Writing by Martin Quin Pollard; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","Taiwan says its military has increased alertness level, citizens should feel reassured."
"Arizona Republican Gubernatorial Candidate Kari Lake speaks during former U.S. President Donald Trump's rally ahead of Arizona primary elections, in Prescott Valley, Arizona, U.S., July 22, 2022. REUTERS/Rebecca Noble/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Arizona, Michigan, Kansas, Missouri and Washington were choosing candidates for U.S. Congress, governor and other offices as former President Donald Trump's effort to maintain dominance over the Republican Party was tested anew.Here are the key primary races to watch:KANSAS ABORTION VOTEVoters in Kansas went on record supporting the state constitution's protection of abortion rights, according to projections by Edison Research.Register now for FREE unlimited access to Reuters.comThe defeat of a proposed constitutional amendment declaring that there is no such right marked the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.Had anti-abortion forces prevailed, the ballot question would have reversed a 2019 state Supreme Court ruling that established the right to abortion in Kansas.MISSOURI U.S. SENATERepublican Missouri Attorney General Eric Schmitt won the state party's nomination to run for U.S. Senate, defeating Eric Greitens, the former governor who resigned in disgrace after sexual assault and campaign finance fraud scandals.Schmitt's victory was a relief to many establishment Republicans who feared they might lose the seat if Greitens were nominated to replace retiring Republican Senator Roy Blunt.U.S. Representative Vicky Hartzler also had been vying for her party's nomination.One day before the vote, Trump said in a statement that he supported ""Eric,"" refusing to say whether he was endorsing Greitens or Schmitt.MICHIGAN GOVERNORTudor Dixon, a former steel industry businesswoman and conservative commentator who was endorsed by Trump and has echoed the ex-president's false election fraud allegations, prevailed over a field of Republican primary candidates for governor in Michigan, Edison Research projected.Dixon will now take on Democratic Governor Gretchen Whitmer, whose aggressive approach to closing down businesses during the COVID-19 pandemic has made her a top target for conservatives.The chaotic Republican primary saw several candidates disqualified after a scandal involving falsified signatures on petitions to get on the ballot. In June, the FBI arrested candidate Ryan Kelley, a real estate broker, on misdemeanor charges stemming from the U.S. Capitol attack, though he continued to campaign.KANSAS GOVERNORKansas Attorney General Derek Schmidt, who had Trump's endorsement, defeated an under-funded opponent in the Republican contest. He will challenge incumbent Democratic Governor Laura Kelly, who is among the most vulnerable Democratic governors, in November.ARIZONA GOVERNORThe Republican contenders include former news anchor Kari Lake, who is endorsed by Trump and has echoed his false claims that the 2020 election was fraudulent. Her main rival is developer Karrin Taylor Robson, who is backed by several establishment Republicans including Trump's former vice president, Mike Pence, and Arizona Governor Doug Ducey.On the Democratic side, the leading candidate is Arizona Secretary of State Katie Hobbs who has built a national profile by vociferously denying Trump's allegations. She is facing Marco Lopez, a former Obama administration official and former mayor of Nogales, a border city.ARIZONA U.S. SENATEA bitter fight to decide who will challenge incumbent Democratic Senator Mark Kelly in November has come down to three Republican candidates. Blake Masters, chief operating officer of Thiel Capital and president of the Thiel Foundation, has the financial backing of tech billionaire Peter Thiel and Trump's endorsement. Recent polling shows him leading state attorney general Mark Brnovich and Jim Lamon, a former power company executive.ARIZONA SECRETARY OF STATEOn the Republican side, the front-runner is Trump-endorsed state Representative Mark Finchem, who was present at the Jan. 6, 2021, rally that preceded the attack on the U.S. Capitol and has embraced Trump's stolen election claims. He faces several opponents. The Democratic contest pits former Maricopa County Recorder Adrian Fontes against state House of Representatives Minority Leader Reginald Bolding.MICHIGAN'S 3RD CONGRESSIONAL DISTRICTIncumbent Representative Peter Meijer, one of the 10 Republicans to vote for Trump's second impeachment, is facing a primary challenge from John Gibbs, a former Trump administration official who has the former president's endorsement. Meijer is a moderate Republican in a district that Democrats see as a potential pickup. The campaign arm for House Democrats angered some supporters by running ads to promote Gibbs, who is seen as an easier target in November.WASHINGTON STATE'S 3RD CONGRESSIONAL DISTRICTRepresentative Jaime Herrera Beutler, one of 10 Republicans to vote for Trump's impeachment in 2021, is facing a primary challenge from Joe Kent, a former Green Beret officer who has been endorsed by Trump. Herrera Beutler has held the seat since 2010.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, Moira Warburton, Gabriella Borter and Richard Cowan, Editing by Ross Colvin, Alistair Bell and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.","Factbox: Key races in Arizona, Michigan, Kansas, Missouri and Washington primary elections."
"Inflation in Singapore hit a 13-year high of 4.4% in June, a 0.8% increase from the previous month.Ore Huiying | Getty Images News | Getty ImagesLow-income earners in Singapore will face the lowest growth in wages and the biggest jump in household expenses as inflation rises, new research by the country's largest lender has shown.Wages for those earning less than 2,500 Singapore dollars ($1,815) a month rose by only 2.5% between May last year and this year, the study showed.That's lower than the country's average consumer price index inflation of 5.2% in the first half of 2022.In contrast, customers earning S$5,000 to S$7,499 had wage increases of 11.1%, and those paid S$10,000 and above received a 13.6% raise in the same period, the report stated.""Customers earning below S$2,500 are usually elderly residents who have a lower earning capability or workers who are in lower skilled professions,"" said Irvin Seah, senior economist at DBS Group Research.The survey of 1.2 million DBS retail customers showed that despite improvements in salary and employment benefits, the income of nearly half of the respondents fell behind inflation.However, Seah said low wage earners receive government financial support, which creates more disposable income for this group of workers.If the bank included customers upward income mobility, which refers to a person's income progressively increasing over the course of their life, ""then overall income growth for the lower income group would be more encouraging at 19.2% year on year,"" Seah told CNBC in an email.Growing expensesOn top of slower wage growth, those in the lower-income group face increasing expenses, which have risen by a bigger factor than those with higher salaries.Expenses for Singaporeans earning less than S$2,500 grew 13.8% between May 2021 and May this year —5.6 times more than their income growth of 2.5%, the study showed.For Singaporeans earning S$5,000 to S$7,499, expenses grew 2.2 times faster than their income growth of 11.1%. Those earning S$10,000 and above saw their expenses increase 1.8 times faster than their income growth of 13.6%, the bank said.""Expenses for the higher income is rising at twice the speed of their income growth [versus 5.6 times] for the lower income. Such [a] trend for the lower income is obviously not sustainable unless there is significant improvement in income growth or upward income mobility,"" Seah said.Spending habitsRising inflation and the economic reopening from the pandemic have led to an increase in household expenses.DBS said its customers are now spending 64% of their income, up from 59% a year ago.Expenses for millennials (those between 26 and 41 years old), who have been spending more as the economy reopened after Covid restrictions were eased, rose by almost 30% over the past year.The growth in expenses for baby boomers (58 to 76 years old) was smaller.A majority of baby boomers are retirees and ""hence, on an aggregate basis, the income growth would be naturally lower,"" Seah said.There was double-digit growth across all spending categories. The biggest growth in expenses was observed in transportation, shopping, entertainment and food.Inflation outlook Inflation in Singapore hit a 13-year high of 4.4% in June, a 0.8% increase from the previous month.Seah said inflation could peak in the third quarter of the year and ease in November.High prices will stick around the next two to three years but the inflation rate will slow, he adds.","Singaporeans with low incomes continue to face the lowest wage growth, DBS says."
"A man walks past TSMC's logo at the company's headquarters in Hsinchu, Taiwan.Sam Yeh | AFP | Getty ImagesIf China were to invade Taiwan, the most-advanced chip factory in the world would be rendered ""not operable,"" TSMC Chair Mark Liu said in an English-language interview with CNN this week.In the undated interview, Liu said that if Taiwan were invaded by China, the chipmaker's plant would not be able to operate because it relies on global supply chains.""Nobody can control TSMC by force. If you take a military force or invasion, you will render TSMC factory not operable,"" Liu said. ""Because this is such a sophisticated manufacturing facility, it depends on real-time connection with the outside world, with Europe, with Japan, with U.S., from materials to chemicals to spare parts to engineering software and diagnosis.""TSMC, the world's most advanced chip manufacturer, makes processors for American companies including Apple and Qualcomm. It manufactures Apple's A-series and M-series chips and has over 50% of the world's semiconductor foundry market.The remarks were aired as tensions between China and Taiwan have escalated in recent days as House Speaker Nancy Pelosi visits the island.""The war brings no winners, everybody's losers,"" Liu said.Last week, the House of Representatives passed the Chips and Science Act, which sets aside billions of dollars in incentives to build chip factories on U.S. soil. President Biden is expected to sign the bill on Tuesday.Backers of the legislation say it is critical for national security to secure the supply of efficient and modern chips for U.S. usage if China were to invade or otherwise make it more difficult to manufacture chips in Taiwan.While much of the bill's incentives will go to American companies like Intel, TSMC is building a $12 billion chip factory in Arizona that could benefit from the subsidies.Ukraine comparisonLiu compared a potential conflict in Taiwan to Russia's invasion of Ukraine, saying that while the two conflicts are very different, the economic impact to other countries would be similar. He encouraged political leaders to try to avoid war.""Ukraine war is not good for any of the sides, it's lose-lose-lose scenarios,"" Liu said.Liu said an invasion of the territory would cause economic turmoil for China, Taiwan and Western countries. He said that TSMC sells chips to consumer-facing Chinese companies that need the company's services and the supply of advanced computer chips.""How can we avoid war? How can we ensure that the engine of the world economy continues humming, and let's have a fair competition,"" Liu said.",Apple chipmaker TSMC warns Taiwan-China war would make everybody losers.
"Passersby wearing protective face masks walk in front of an electronic board showing Japan's Nikkei share average, amid the coronavirus disease (COVID-19) pandemic, in Tokyo, Japan July 14, 2022. REUTERS/Issei KatoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - Asia-Pacific bond yields followed U.S. Treasury yields higher on Wednesday and the dollar continued its climb after Federal Reserve officials signalled they are nowhere near done raising interest rates.Yields were also helped as demand for the safest assets retreated following U.S. House Speaker Nancy Pelosi's safe arrival in Taiwan, despite threats of action from China, which views the island as a breakaway province. The safe-haven yen continued its slide.That lifted stocks in Asia, despite the slide on Wall Street overnight.Register now for FREE unlimited access to Reuters.comJapan's Nikkei (.N225) gained 0.5%, rebounding from Tuesday's two-week closing low, while Chinese blue chips (.CSI300) jumped 0.86% and Hong Kong's Hang Seng (.HSI) gained 0.76%.""Hong Kong and Chinese shares have recovered around a third of yesterday's losses because of relief that there was no major confrontation overnight,"" Steven Leung, executive director for institutional sales at UOB Kay Hian in Hong Kong.""However investors are going to remain nervous due to the military exercises planned for after Pelosi's departure.""A trio of Fed policymakers signalled on Tuesday that there would be no let up in the tightening campaign aimed at taming the highest inflation since the 1980s, even though it will take rates to a level that will more significantly curb economic activity. read more Two of them, San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans, are widely regarded as doves.Traders now see a chance of about 44% that the Fed will hike by another 75 basis points at its next meeting in September.Benchmark long-term Treasury yields were around 2.71% in Tokyo, not far from the overnight high of 2.774% following a 14 basis point surge.The dollar-yen rate , which tends to closely track U.S. yields, jumped 0.3% to 133.57, extending Tuesday's 1.2% surge.The U.S. dollar index , which gauges the currency against the yen and five other major peers, was 0.04% higher at 106.41, after rebounding 1% overnight following its slide to a nearly one-month low at 105.03.Bonds and the yen, traditional safe havens, lost some sheen after Pelosi's visit to Taiwan was so far only met by strong words and the announcement of live-far military drills by Beijing, allaying fears of more extreme measures.Gold edged 0.13% higher to $1,762.09 per ounce, but following a 0.68% retreat the previous session.Meanwhile, MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) edged 0.11% higher, helped by the rally in Japan as bargain hunters came in following Tuesday's decline to a two-week closing low.China's CSI 300 was also rebounding from a steep slide that took it to a nearly two-month intraday trough in the previous session. Gains for Hong Kong's Hang Seng were led by a surge in tech stocks, with an index of the shares (.HSTECH) jumping 1.8%.Taiwan's stock benchmark (.TWII), though, was about flat, while Australian equities declined 0.52%, on course to snap a six-day winning streak.U.S. stock futures edged 0.07% higher, following the S&P 500's 0.67% drop overnight.Register now for FREE unlimited access to Reuters.comEditing by Lincoln Feast.Our Standards: The Thomson Reuters Trust Principles.",Yields up with dollar as Fed officials signal more hikes; Asian stocks firm.
"Billboard ad of fantasy game ""Genshin Impact"" from Shanghai-based developer Mihoyo is pictured in Hong Kong, China October 20, 2020. REUTERS/Pei LiRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 3 (Reuters) - Unity Software Inc (U.N), the U.S. developer best known for software used to design video games, is in talks to spin off its China unit to help it expand in the world's biggest games market, four people with knowledge of the matter told Reuters.San Francisco-based Unity has sought strategic investors to join it in a business valued at over $1 billion during talks, said two of the people, declining to be identified as they were not authorised to speak publicly on the matter.Unity declined to comment. Its share price closed up over 5% on the news on Tuesday.Register now for FREE unlimited access to Reuters.comThe talks come as strained Sino-U.S. relations exacerbate sensitivities over technology transfer and data handling across borders, prompting tech firms to reappraise their operations in China. At the same time, there is growing interest in expanding game-making software to new technologies such as the so-called metaverse, an immersive three-dimensional internet.Unity entered China in 2012 and its eponymous software, known as a game engine, powers many of the country's most popular games such as ""Honor of Kings"" from gaming leader Tencent Holdings Ltd (0700.HK) and miHoYo's ""Genshin Impact"".Rivals include Tencent-backed Epic Games, the U.S. developer of the increasingly popular Unreal Engine 5.Unity's spin-off plan is being driven by a desire to see its software used more extensively in China in areas as varied as smart city modelling to industrial design, as well as in the metaverse, two of the people said. Potential investors Unity has been speaking to have made big bets on the metaverse, they said.With China tightening data handling regulation, Unity believes a spin-off would aid this expansion as it would give the unit more local ownership and autonomy over how it operates in the country, which could also increase its attraction to local government and state-owned partners, the people said.The spin-off would be one of China's bigger technology deals this year as investment activity has slowed due to weak economic growth, COVID-19 outbreaks and regulatory tightening.Unity China Chief Executive Zhang Junbo has been working on the plan for at least a year, two of the people said. Progress has been further slowed by Unity's share price sinking 80% since its November 2021 high amid weakness in U.S. tech stocks, and by a product missing performance expectations, they said.Zhang disclosed Unity's China expansion ambition last month to local tech media outlet 36Kr without mentioning a spin-off, saying Unity was exploring ways to make its technology ""safe and controllable"" within China - a reference to the government's mandate for important technology to be controlled domestically.He also said Unity would likely hire over a thousand engineers in coming years while expanding offices in Beijing and Guangzhou in addition to its main office in Shanghai.Two of the people said Unity's Shanghai-based employees have been asked to sign contracts with the new entity, and that talks about an operating budget separate to its parent's are ongoing.A local joint venture (JV) could help Unity ""gain a footing with sensitive industries such as governments and manufacturing that are seeking to modernise their operations with digital twins and real-time 3D enabled technologies,"" said Matthew Kanterman, director of research at Ball Metaverse Research Partners.While forming a China JV carries risk - a notable example being a dispute between British chipmaker Arm and its Chinese unit - Kanterman said such JVs have worked well for many Western tech firms, such as HP Inc (HPQ.N) and Nokia Oyj (NOKIA.HE).""Having the right local partners can help Unity succeed where others struggle,"" Kanterman said.Register now for FREE unlimited access to Reuters.comReporting by Josh Ye, Julie Zhu and Kane Wu in Hong Kong; Additional reporting by Josh Horwitz in Shanghai; Editing by Brenda Goh and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",EXCLUSIVE U.S. game software developer Unity in talks to spin off China unit -sources.
"Arizona Secretary of State Katie Hobbs looks over the Arizona Presidential Electoral Ballot from the members of Arizona's Electoral College in Phoenix, Arizona, U.S. December 14, 2020. Ross D. Franklin/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Arizona Secretary of State Katie Hobbs won the Democratic nomination for governor on Tuesday, Edison Research projected, defeating Marco Lopez, a former Nogales mayor who served as a border official in the Obama administration.Hobbs built a national profile by defending the state's 2020 election results against former President Donald Trump's false claims of fraud.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, editing by Ross Colvin and Alistair BellOur Standards: The Thomson Reuters Trust Principles.",Arizona Secretary of State Hobbs wins Democratic nomination for governor.
"A model of the Chinese Fighter aircraft is seen in front of Chinese and Taiwanese flags in this illustration taken, April 28, 2022. Picture taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - Japan called China's military exercises in response to U.S. House Speaker Nancy Pelosi's visit to Taiwan 'concerning' on Wednesday, but refrained from commenting on Pelosi's visit to Asia.Chief Cabinet Secretary Hirokazu Matsuno said at a news conference that the government has conveyed concerns over the military operations to China, and reiterated that Japan hopes issues over the Taiwan Strait will be resolved through dialogue.Register now for FREE unlimited access to Reuters.comReporting by Sakura Murakami; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",China military operations 'concerning' says Japan gov't spokesperson.
"Customers dine at a restaurant in a shopping area in Beijing, China July 25, 2022. REUTERS/Tingshu Wang/File PhotoRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 3 (Reuters) - China's services activity grew at the fastest rate in 15 months in July as easing COVID curbs boosted consumer confidence, but foreign demand fell and companies cut staff for the seventh month in a row, a private-sector survey showed on Wednesday.The Caixin services purchasing managers' index (PM) rose to 55.5 in July, the fastest growth since April 2021, rising further from the robust reading of 54.5 in June.The 50-point mark separates growth from contraction on a monthly basis.Register now for FREE unlimited access to Reuters.comThe reading contrasted somewhat with China's official services PMI on Sunday which showed growth moderated, but both gauges still pointed to solid expansion in the hard-hit sector while the country's manufacturers struggled. read more A sub-index for new business soared to nine-month high, thanks to improved domestic demand, but new export business contracted for the seventh successive month, the Caixin survey showed.Meanwhile, the rate of cost inflation in the services sector picked up for the first time since March as prices for food, fuel, raw materials and staff remained high.But some market watchers are not sure how long the COVID reopening boost will last.Fresh virus flareups have led to tightening curbs on activity in some cities in recent weeks, while the property market is in a deepening slump and global demand is faltering. Many businesses have put big spending plans on hold and are trying to cut costs. read more ""Beware the July rebound narrative. Markets are convinced that easing lockdowns mean the worst is over, but July data show that firms are still largely refusing to invest, borrow and especially now, hire,"" said Leland Miller, chief executive at data firm China Beige Book.""This is likely because companies simply do not believe that their COVID Zero nightmare is over.""Caixin's July composite PMI, which includes both manufacturing and services activity, fell to 54.0 from 55.3 the month prior. The Caixin PMI is compiled by S&P Global from responses to questionnaires sent to purchasing managers in China.The country's top leaders last week signalled their preparedness to miss the government growth target of around 5.5% for 2022. Analysts polled by Reuters have forecast growth to slow to 4.0% this year. read more Register now for FREE unlimited access to Reuters.comReporting by Ellen Zhang and Ryan Woo; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",China July services activity expands at quickest pace in 15 months - Caixin PMI.
"get the free app Updated on: August 2, 2022 / 10:57 PM / CBS News Primaries test Trump's hold on Republican Party Primaries test Trump's hold on Republican Party 02:15 Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.With former President Donald Trump's influence looming large in some of Tuesday's primaries, a CBS News poll released Tuesday showed that for Republicans, a Trump endorsement is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans. ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriCBS News projects that Attorney General Eric Schmitt, who has been leading the crowded field, wins the Republican nomination for the open Senate seat in Missouri. Eric Greitens, the former governor who resigned in 2018 and has faced allegations of domestic abuse, led early in the race, but an $11 million ad blitz by two anti-Greitens groups chipped it away.On the eve of the primary, Trump issued a kind of split endorsement in the race, throwing his support behind ""ERIC."" Both Eric Schmitt and Eric Greitens quickly claimed they'd won his backing.In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.In the race to take on Gov. Gretchen Whitmer, CBS News projects Tudor Dixon will win the Republican nomination. Dixon, backed by Trump, had been seen by Republican strategists as the strongest candidate to take on Whitmer. Among the Republicans Dixon defeated was Ryan Kelley, who was arrested in June related to his participation in the Jan. 6 attack on the U.S. Capitol. ""Now we have the opportunity to truly hold Gretchen Whitmer accountable for the pain she has inflicted on every one of us in the past three years,"" Dixon said at her election night watch party in Grand Rapids, Mich., referring to the lockdowns of schools imposed during the COVID-19 pandemic.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasKansas voted to preserve abortion access, voting ""no"" on the ability to amend the state constitution, marking the first time a state has voted on abortion, since the Supreme Court struck down Roe v. Wade.Kansas Democratic Party Chairwoman Vicki Hiatt celebrated the win for abortion access, saying in a statement, ""This outcome affirms what we know is true: Kansans want common sense leadership that will protect their right to keep politicians out of their health care decisions.""In 2019, Kansas' state Supreme Court ruled that the right to an abortion is protected in the state constitution's bill of rights. Voters were deciding whether to allow the constitution to be amended in order to ban abortion rights.    6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    Updated 10:07 PM U.S. Senate Missouri Republican primary: CBS News projects Eric Schmitt wins CBS News projects Eric Schmitt will win the Republican nomination for U.S. Senate in Missouri.   6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    Updated 12m ago Missouri 1st Congressional District Democratic primary: CBS News projects Cori Bush wins CBS News projects Cori Bush wins the Democratic primary in Missouri's 1st Congressional District.    Updated 26m ago CBS News projects Kansas voters reject amending constitution on abortion CBS News projects ""No"" wins, meaning the state constitution will remain as is, reaffirming the right to an abortion.   Updated 9:03 PM Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    Updated 9:48 PM Michigan Republican governor primary: CBS News projects Tudor Dixon will win CBS News projects Tudor Dixon will win the Michigan Republican primary for governor   6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    Updated 12m ago Michigan 11th Congressional District Democratic primary: CBS News projects Haley Stevens wins CBS News projects Haley Stevens wins the Democratic nomination Michigan's 11th Congressional District.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Live Updates: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - PayPal Holdings (PYPL.O) on Tuesday said activist investor Elliott Management has an over $2 billion stake in the fintech company and the firm raised its annual profit guidance.PayPal shares shot up nearly 12% after it also announced a slew of moves including appointing Blake Jorgensen as new chief financial officer and a $15 billion repurchase program.The fintech company has ""an unmatched and industry-leading footprint across its payments businesses,"" said Jesse Cohn, a managing partner at Elliott, a day after the investment firm disclosed a similar stake in Pinterest Inc (PINS.N). read more Register now for FREE unlimited access to Reuters.comPayPal, which was among companies that won big during the pandemic, saw shares wipe out over 70% of their market value in a year as e-commerce growth retreated from pandemic-era records.""Considering the stock's meaningful underperformance over the last nine months, this may be enough to satisfy investors, who have lost some measure of faith in management credibility after so many downward revisions,"" said Jason Benowitz, senior portfolio manager at Roosevelt Investments.PayPal also expects to reduce headcount to cut back costs and said it estimates annual revenue to grow at 11% on an FXN-basis, its lower end of previous guidance of ~11% and 13%.""PayPal let an activist investor inside the tent with an information sharing agreement. We expect the company to materially refresh its top management layer and make tough choices to improve profit margins,"" said Benowitz.The company also announced a slew of moves including appointing Blake Jorgensen as Paypal's new chief financial officer and a new $15 billion repurchase program. Blake, who takes over the role on Wednesday, joins PayPal from Electronic Arts (EA.O).The company reported a lower adjusted profit of 93 cents per share for the three months ended June 30, that comfortably beat estimates of 86 cents a share.It raised its adjusted profit expectations to between $3.87 and $3.97 per share for the year, up from its previous forecast of $3.81 and $3.93.(The story corrects spelling of Elliott in headline and paragraph 3. Also corrects investment firm's name to Roosevelt from Roose in paragraph 5)Register now for FREE unlimited access to Reuters.comReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.","PayPal shares jump on Elliott's $2 bln stake, annual profit guidance raise."
"Ukrainian servicemen fire with a BM21 Grad multiple launch rocket system in a frontline in Kharkiv region, as Russia's attack on Ukraine continues, Ukraine August 2, 2022. REUTERS/Sofiia GatilovaRegister now for FREE unlimited access to Reuters.comSummaryUkraine consults U.S. ahead of strikes, Skibitsky tells paperComment prompts Kremlin to accuse U.S. of direct involvementFirst wartime Ukraine grain ship reaches Bosphorus StraitISTANBUL/LONDON, Aug 3 (Reuters) - Russia has accused the United States of direct involvement in the Ukraine war, while the first ship carrying Ukrainian grain to world markets since Moscow's invasion is due to be inspected in Turkey on Wednesday.Russia's defence ministry, headed by an ally of President Vladimir Putin, said comments made by Vadym Skibitsky, Ukraine's deputy head of military intelligence, to Britain's Telegraph newspaper showed that Washington was entangled in the conflict despite assertions it was limiting its role to arms supplies.Skibitsky told the paper there was consultation between U.S. and Ukrainian intelligence officials before strikes and Washington had an effective veto on intended targets, but that U.S. officials were not providing direct targeting information.Register now for FREE unlimited access to Reuters.com""All this undeniably proves that Washington, contrary to White House and Pentagon claims, is directly involved in the conflict in Ukraine,"" the Russian defence ministry said in a statement on Tuesday. read more ""It is the Biden administration that is directly responsible for all Kyiv-approved rocket attacks on residential areas and civilian infrastructure in populated areas of Donbas and other regions, which have resulted in mass deaths of civilians.""There was no immediate reaction from the White House or Pentagon to the ministry's assertions.The Pentagon did deny, however, Moscow's claims that Russia had destroyed six U.S.-made HIMARS missile systems since the start of the Ukraine war. Russia regularly claims it has hit HIMARS but has yet to show proof. read more Ukraine and the West accuse Russia of carrying out devastating missile attacks on civilian targets on an almost daily basis. Both sides deny deliberately targeting civilians.DONBAS: 'JUST HELL'Ukrainian President Volodymyr Zelenskiy on Tuesday said that despite arms supplies from the West, his country's forces could not yet overcome Russian advantages in heavy guns and manpower.""This is very much felt in combat, especially in the Donbas. ... It is just hell there. Words cannot describe it.""Donbas, Ukraine's traditional industrial heartland in Ukraine's east, has seen some of the war's heaviest fighting.Russia sent tens of thousands of troops into Ukraine on Feb. 24 in what it calls a ""special military operation"". Kyiv and the West have condemned it as an unprovoked war of aggression.At a U.N. conference on Tuesday, Igor Vishnevetsky, deputy director of the department for non-proliferation and arms control of the Russian foreign ministry, refuted all allegations of ""unprovoked aggression"". He also added that Moscow was convinced a nuclear war ""must never be fought"".Russian diplomat Alexander Trofimov told the United Nations that Moscow would only use nuclear weapons in response to weapons of mass destruction or a conventional weapons attack that threatened the existence of the Russian state. read more ""None of these two hypothetical scenarios is relevant to the situation in Ukraine,"" said Trofimov, a senior diplomat in the non-proliferation and arms control department of Russia's foreign ministry.SAFE PASSAGEMeanwhile, a July 22 U.N.-brokered deal to unblock Ukrainian grain exports had an initial success as the first loaded ship since Russia's invasion safely anchored off the Turkish coast.The vessel, the Sierra Leone-flagged Razoni was at the entrance of the Bosphorus Strait, which connects the Black Sea to world markets, around 1800 GMT on Tuesday, some 36 hours after leaving the Ukrainian port of Odesa. read more A delegation from the Joint Coordination Centre (JCC) in Istanbul, where Russian, Ukrainian, Turkish and U.N. personnel work, is expected to inspect the ship at 0700 GMT on Wednesday, Turkey's Defence Ministry said.It was loaded with 26,527 tonnes of corn.U.N. spokesman Stephane Dujarric told reporters in New York there were about 27 ships in the three Ukrainian ports covered by the export deal that were ready to go.The exports from one of the world's top grain producers are intended to help ease a global food crisis.Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk.Russia has called the Razoni's departure ""very positive"" news. It has denied responsibility for the food crisis, saying Western sanctions have slowed its exports.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Michael Perry; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.",Russia accuses U.S. of direct Ukraine war role in missile attacks.
"Space August 2, 2022 / 7:25 PM / CBS News A stunning image captured by the James Webb Space Telescope has given us the clearest look of the Cartwheel Galaxy so far. NASA released the image Tuesday of the distant galaxy — named for its resemblance to a wagon wheel. The Cartwheel Galaxy is located about 500 million light-years away in the Sculptor constellation, the agency said in a press release. An image of the distant Cartwheel Galaxy, located about 500 million light-years away in the Sculptor constellation. It was taken by the James Webb Space Telescope.   IMAGE: NASA, ESA, CSA, STScI, Webb ERO Production Team The image shows the Cartwheel Galaxy alongside two ""smaller companion galaxies, against a backdrop of many other galaxies."" The image reveals that the Cartwheel Galaxy has a bright inner ring and a surrounding colorful ring, the result of a high-speed collision between a large spiral galaxy and a smaller galaxy, NASA said.  According to NASA, the galaxy's right inner ring contains a tremendous amount of hot dust, with the brightest areas holding gigantic young star clusters. The outer ring has been expanding from the center of the collision for around 440 million years. When it expands and hits surrounding gas, stars form. The Cartwheel Galaxy, whose rings expand outwards from the center of the collision, is categorized as a ""ring galaxy,"" which are more rare than spiral galaxies like our Milky Way, NASA said. This image of the Cartwheel and its companion galaxies is a composite from Webb's Near-Infrared Camera (NIRCam) and Mid-Infrared Instrument (MIRI), which reveals details that are difficult to see in the individual images alone. IMAGE: NASA, ESA, CSA, STScI, Webb ERO Production Team NASA had tried to get a clear look at the elusive galaxy, including with the use of the Hubble Space Telescope, but had been unable to because of the amount of dust that obscures the view. However, the advanced Webb Space Telescope, whose Near-Infrared Camera (NIRCam) can detect infrared light, has clearly captured the young stars forming in the outer ring of the galaxy.  The image has also provided insight into the what happened to the Cartwheel Galaxy in the past and how it is likely to evolve in the future. The galaxy, which was ""presumably a normal galaxy like the Milky Way before its collision"" is currently in a transitory stage and will continue to transform, NASA said. In: James Webb Space Telescope NASA Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",James Webb Space Telescope captures stunning image of Cartwheel Galaxy.
"Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Kansas voters on Tuesday rejected a state constitutional amendment that would have declared there is no right to abortion, Edison Research projected, delivering a win to abortion rights advocates in a deeply conservative state.The vote was the first statewide referendum on abortion since the U.S. Supreme Court overturned the Roe v. Wade decision in June. The ballot question drew national attention as an early indicator of whether abortion rights will motivate voters in November's midterm elections.The amendment's failure will prevent Kansas' Republican-led legislature from passing severe abortion restrictions without violating the state constitution.Register now for FREE unlimited access to Reuters.comYard signs in urge residents to vote on an amendment to Kansas' constitution that would assert there is no right to abortion, in Wichita, Kansas, U.S., July 10, 2022. REUTERS/Gabriella Borter/File PhotoIt will also preserve a key abortion access point in America's heartland. Patients travel to Kansas for abortions from Texas, Oklahoma, Missouri and other states that have banned the procedure almost entirely since the Supreme Court overturned Roe, the 1973 case that legalized abortion nationwide.Kansas' Supreme Court ruled in 2019 that the state constitution protected abortion rights. As a result, Kansas has maintained more lenient policies than other conservative neighbors.The state allows abortion up to 22 weeks of pregnancy with several additional restrictions including a mandatory 24-hour waiting period and mandatory parental consent for minors.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter in Washington; Editing by Colleen Jenkins, Lisa Shumaker and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Kansas votes to preserve abortion rights in first post-Roe election test.
"U.S. House of Representatives Speaker Nancy Pelosi visits the parliament in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi addressed Taiwan's parliament on Wednesday and was due to meet with its president as well as human rights activists during a visit to the island that has infuriated Beijing.China condemned the highest-level U.S. visit to Taiwan in 25 years as a threat to peace and stability in the Taiwan Strait, responding with a flurry of military exercises, summoning the U.S. ambassador in Beijing, and announcing the suspension of several agricultural imports from Taiwan.Pelosi arrived in Taipei late on Tuesday on an unannounced but closely watched trip, saying that it shows unwavering U.S. commitment to the self-ruled island that Beijing says is part of China.Register now for FREE unlimited access to Reuters.comOn Wednesday, Pelosi thanked President Tsai Ing-wen for her leadership, called for increased inter-parliamentary cooperation.""We commend Taiwan for being one of the freest societies in the world,"" Pelosi told Taiwan's parliament.She also said new U.S. legislation aimed at strengthening the American chip industry to compete with China ""offers greater opportunity for US-Taiwan economic cooperation.""While Pelosi is not the first House Speaker to go to Taiwan - Newt Gingrich visited in 1997 - her visit comes as relations between Beijing and Washington have deteriorated sharply, and with China a much more powerful economic, military and geopolitical force than it was a quarter century ago.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.Early on Wednesday, China's customs department announced a suspension of imports of citrus fruits, chilled white striped hairtail and frozen horse mackerel from Taiwan, while its commerce ministry suspended export of natural sand to Taiwan.A long-time China critic, especially on human rights, Pelosi was set to meet later on Wednesday with a former Tiananman activist, a Hong Kong bookseller who had been detained by China and a Taiwanese activist recently released by China, people familiar with the matter said.MILITARY DRILLSShortly after Pelosi's arrival, China's military announced joint air and sea drills near Taiwan and test launches of conventional missiles in the sea east of Taiwan, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday.China's foreign ministry said Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Before Pelosi's arrival on Tuesday, Chinese warplanes buzzed the line dividing the Taiwan Strait. The Chinese military said it was on high alert and will launch ""targeted military operations"" in response to Pelosi's visit.White House national security spokesman John Kirby said on Tuesday after Pelosi's arrival that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.""We will continue to support Taiwan, defend a free and open Indo-Pacific and seek to maintain communication with Beijing,"" Kirby told a later White House briefing, adding that the United States ""will not engage in sabre-rattling.""Kirby said China might engage in ""economic coercion"" toward Taiwan, adding that the impact on American-Chinese relations will depend on Beijing's actions in the coming days and weeks.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Taiwan's defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills around the island.""The so-called drill areas are falling within the busiest international channels in the Indo-Pacific region,"" a senior Taiwan official familiar with its security planning told Reuters on Wednesday.""We can see China's ambition: to make the Taiwan Strait non-international waters, as well as making the entire area west of the first island chain in the western pacific its sphere of influence,"" the person said.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu
Writing by Tony MunroeOur Standards: The Thomson Reuters Trust Principles.",Pelosi addresses Taiwan parliament in visit condemned by China.
"The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo WhitakerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) will distribute at least twice as much as the biggest international oil producers in second quarter dividends, boosting the government's coffers amid a tense presidential campaign.The five biggest Western oil producers - Exxon Mobil Corp (XOM.N), Chevron Corp. (CVX.N), Shell PLC (SHEL.L), TotalEnergies (TTEF.PA) and BP (BP.L) - posted record cash distributions to shareholders in recent days of between $4 billion and $7.6 billion. But none came close to Petrobras's $17 billion payout.Brazil's government, which controls the producer with a majority of its voting shares, last month asked Petrobras and other state-controlled companies to increase dividends to finance extra federal spending.Register now for FREE unlimited access to Reuters.comThe cry for help came as the government of President Jair Bolsonaro, which later this year faces a tough reelection battle, last month bypassed a constitutional spending cap to finance a massive cash transfer program popular among low-income voters. read more Petrobras will distribute about 60% more to shareholders than its $10.5 billion (54.33 billion reais) profit. Critics said the huge payout will lead to underinvestment in the business. read more Petrobras' dividends were less than at Saudi Arabia's state-controlled Saudi Aramco, the world's largest oil company, which produces 13 million barrels of oil equivalent per day (boed), almost five times more than Petrobras.Aramco has been distributing $18.76 billion to shareholders per quarter. Its next dividend will be disclosed on Aug. 14.U.S. producer Exxon, which posted the highest quarterly profit of the five majors, spent $7.6 billion on shareholder distributions. read more Bolsonaro is trying to boost his re-election chances by ramming through short-term spending measures, critics say. Polls show he is lagging leftist former President Luiz Inacio Lula da Silva. read more Dividend payments will be made by Petrobras before the first round of voting, scheduled for Oct. 2. read more Petrobras said higher oil prices and assets sales allowed for the extra payment, and did not compromise planned investments. The company is in a comfortable cash situation and is able to retain between $8-10 billion in cash this year, it said. Petrobras reaffirmed its commitment to distribute at least 60% of its free cash flow to investors.""The extraordinary dividend payment proved to be the best allocation of the company's cash,"" Petrobras said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle
Editing by Nick Zieminski and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.",Brazil's Petrobras leapfrogs oil majors in dividend payouts.
"Commonwealth Games - Athletics - Men's 10,000m - Final - Alexander Stadium, Birmingham, Britain - August 2, 2022 Uganda's Jacob Kiplimo celebrates as he crosses the line to win gold REUTERS/Phil NobleRegister now for FREE unlimited access to Reuters.comBIRMINGHAM, England, Aug 2 (Reuters) - Jacob Kiplimo used a devastating late kick to win the Commonwealth Games men's 10,000 metres gold on Tuesday, stepping up in the absence of world champion Joshua Cheptegei to maintain Uganda's domination of the event.Opening night at Alexander Stadium was meant to be highlighted by Cheptegei defending his Commonwealth crown but the Ugandan world record holder opted out to better prepare for the remaining Diamond League races.That left Kiplimo, the Olympic and world bronze medallist, alone to face the three man Kenyan threat of Kibiwott Kandie, Daniel Ebenyo and Edward Zakayo Pingua.Register now for FREE unlimited access to Reuters.comThe Kenyans controlled the pace through much of the race until Kiplimo and Ebenyo broke free of the pack to reduce the battle for gold to a two-man fight with two laps to run.Shoulder-to-shoulder entering the final bend, Kiplimo found another gear rocketing away down the last 100 metres, hands raised with enough energy to dance in delight as he crossed the line in a Games record time of 27 minutes, 9.19 seconds.""I think for me winning this Commonwealth Games title was everything, the most important thing for me this season,"" said Kiplimo. ""But I still have a lot of things to do in the future at the Olympics and world championships.""Kenyans occupied the other two spots on the podium with Ebenyo securing silver and Kandie bronze.With Kiplimo's superb victory Uganda have now won the men's 10,000m at every Commonwealth Games since 2006.It was also a big night for Nigeria, with gold and bronze in the women's discus.Chioma Onyekwere took the top step on the podium with a throw of 61.70m ahead of England's Jade Lally and team mate Obiageri Amaechi.After taking world championship pole vault bronze in Eugene, Australia's Nina Kennedy upgraded to gold in Birmingham with a winning height of 4.60m.""I was mentally quite flat after the world championships. I am so proud of myself because it was so hard to come here,"" said Kennedy.Molly Caudery grabbed silver for England and New Zealand's Imogen Ayris took the bronze.England's hopes for a podium in the pole vault appeared to dim just prior to the start of the competition when Holly Bradshaw, the Tokyo Olympic bronze medallist, withdrew saying she had not recovered from a hamstring tear that kept her out of the world championships.Register now for FREE unlimited access to Reuters.comReporting by Steve Keating in Birmingham. Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.","Kiplimo kick extends Uganda domination of Commonwealth Games 10,000m."
"Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus MordantRegister now for FREE unlimited access to Reuters.comMELBOURNE, Aug 3 (Reuters) - Oil prices fell about 1% in early trade on Wednesday, reversing gains from the previous session ahead of a meeting OPEC+ producers on fears of a slowdown in global growth hitting fuel demand and a firmer dollar.Brent crude futures fell 94 cents, or 0.9%, to $99.60 a barrel at 0020 GMT, wiping out the previous session's gain.West Texas Intermediate (WTI) crude futures were down 68 cents, or 0.7%, at $93.74 a barrel, after climbing 53 cents on Tuesday.Register now for FREE unlimited access to Reuters.comThe Organization of the Petroleum Exporting Countries and allies including Russia, together known as OPEC+, meet on Wednesday. OPEC+ sources told Reuters last week that the group will likely keep output unchanged in September, or raise it slightly.Analysts are expecting no change due to a weak outlook for demand as recession fears grow, and said top producer Saudi Arabia may be reluctant to beef up output at the expense of OPEC+ partner Russia, hit by sanctions due to the Ukraine conflict.Ahead of the meeting, OPEC+ trimmed its forecast for an oil market surplus this year by 200,000 barrels per day (bpd) to 800,000 bpd, three delegates told Reuters. read more ""The likelihood they announce an increase in output remains low amid the uncertain economic backdrop and signs of weakness in demand,"" ANZ Research analysts said in a note.Several factors are weighing on the demand outlook, including rising fears of an economic slump in the United States and Europe, debt distress in emerging market economies, and China's COVID-zero policy curbing activity in the world's top oil importer, Commonwealth Bank analyst Vivek Dhar said.""We see growing downside risks to our oil price forecast of $US100/bbl in Q4 2022 as global demand concerns continue to grow,"" Dhar said in a note.A stronger dollar, bolstered by comments from U.S. Federal Reserve officials hinting at more interest rate hikes to cool inflation, also weighed on oil prices as a firmer greenback makes oil more expensive for holders of other currencies.Adding to the bearish view on demand, data from the American Petroleum Institute, an industry group, showed U.S. crude stocks rose by about 2.2 million barrels for the week ended July 29, against analysts' expectations for a decline of around 600,000 barrels.Gasoline inventories fell by 200,000 barrels, which was a smaller drawdown than analysts had expected, however distillate stocks fell by about 350,000 barrels against analysts' forecasts for a build.The market will be looking to see if official data from the U.S. Energy Information Administration (EIA) at 1430 GMT confirms the inventory view.Register now for FREE unlimited access to Reuters.comReporting by Sonali Paul in Melbourne; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Oil falls on demand worries, stronger U.S. dollar."
"U.S. Updated on: August 2, 2022 / 7:23 PM / CBS/AP Fighting back tears and finally given the chance to confront conspiracy theorist Alex Jones, the parents of a 6-year-old killed in the 2012 Sandy Hook Elementary school shooting described being put through a ""living hell"" of death threats, harassment and ongoing trauma over the last decade caused by Jones using his media platforms to push claims that it was all a hoax.The parents led a day of charged testimony that included the judge scolding the bombastic Jones for not being truthful with some of what he said under oath.Neil Heslin and Scarlett Lewis, whose son Jesse was killed at Sandy Hook, took the witness stand Tuesday on the final day of testimony in the two-week defamation damages trial against Jones and his media company Free Speech Systems. They are seeking at least $150 million in damages. In a gripping exchange, Lewis spoke directly to Jones, who was sitting about 10 feet away. Earlier that day, Jones was on his broadcast program telling his audience that Heslin is ""slow"" and being manipulated by bad people.""I am a mother first and foremost and I know you are a father. My son existed,"" Lewis said to Jones. ""I am not deep state... I know you know that... And yet you're going to leave this courthouse and say it again on your show."" Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, July 28, 2022.  BRIANA SANCHEZ/POOL At one point, Lewis asked Jones: ""Do you think I'm an actor?"" ""No, I don't think you're an actor,"" Jones responded before the judge admonished him to be quiet until called to testify.Lewis continued trying to impress on Jones that the Sandy Hook shooting and trauma inflicted in the decade since then was real.""It seems so incredible to me that we have to do this — that we have to implore you, to punish you — to get you to stop lying,"" Lewis said. ""I am so glad this day is here. I'm actually relieved. And grateful... that I got to say all this to you.""Jones visibly shook his head several times while Scarlett Lewis was addressing him. Heslin and Lewis are among several Sandy Hook families who have filed several lawsuits alleging that Sandy Hook hoax claims pushed by Jones have led to years of abuse by Jones and his followers.Heslin and Lewis both said they fear for their lives and have been confronted by strangers at home and on the street. Heslin said his home and car have been shot at. The jury heard a death threat sent via telephone message to another Sandy Hook family.""I can't even describe the last nine and a half years, the living hell that I and others have had to endure because of the recklessness and negligence of Alex Jones,"" Heslin said.Scarlett Lewis also described threatening emails that seemed to have uncovered deep details of her personal life.""It's fear for your life,"" Scarlett Lewis said. ""You don't know what they were going to do.""Heslin said he didn't know if the Sandy Hook hoax conspiracy theory originated with Jones, but it was Jones who ""lit the match and started the fire"" with an online platform and broadcast that reached millions worldwide.""What was said about me and Sandy Hook itself resonates around the world,"" Heslin said. ""As time went on, I truly realized how dangerous it was."" Jones skipped Heslin's morning testimony while he was on his show — a move Heslin dismissed as ""cowardly"" — but arrived in the courtroom for part of Scarlett Lewis' testimony. He was accompanied by several private security guards.""Today is very important to me and it's been a long time coming... to face Alex Jones for what he said and did to me. To restore the honor and legacy of my son,"" Heslin said when Jones wasn't there.Heslin told the jury about holding his son with a bullet hole through his head, even describing the extent of the damage to his son's body. A key segment of the case is a 2017 Infowars broadcast that said Heslin didn't hold his son.The jury was shown a school picture of a smiling Jesse taken two weeks before he was killed. The parents didn't receive the photo until after the shooting. They described how Jesse was known for telling classmates to ""run!"" which likely saved lives.An apology from Jones wouldn't be good enough, the parents said.""Alex started this fight,"" Heslin said, ""and I'll finish this fight.""In 2017, Heslin went on television, he told CBS News, to directly address the Sandy Hook deniers. ""I lost my son. I buried my son. I held my son with a bullet hole through his head,"" he said. After which, the harassment only got worse, Heslin said.""I've had many death threats,"" Heslin told CBS News in 2018. ""People say, 'You should be the ones with a bullet hole in your head.'""Jones later took the stand himself, initially being combative with the judge who had asked him to answer his own attorney's question. Jones testified he had long wanted to apologize to the plaintiffs. ""I never intentionally tried to hurt you. I never said your name until this came to court,"" Jones said. ""The internet had questions, I had questions."" Later, the judge sent the jury out of the room and strongly scolded Jones for telling the jury he complied with pretrial evidence gathering even though he didn't, and that he is bankrupt, which has not been determined. Plaintiff's attorneys were furious about Jones mentioning he is bankrupt, which they worry will taint a jury decision about damages. ""This is not your show,"" Judge Maya Guerra Gamble told Jones. ""Your beliefs do not make something true. You are under oath."" Last September, Guerra admonished Jones in her default judgement over his failure to turn over documents requested by the Sandy Hook families. A court in Connecticut issued a similar default judgement against Jones for the same reasons in a separate lawsuit brought by other Sandy Hook parents. Heslin and Lewis suffer from a form of post-traumatic stress disorder that comes from constant trauma, similar to that endured by soldiers in war zones or child abuse victims, a forensic psychologist who studied their cases and met with them testified Monday.Jones has portrayed the lawsuit against him as an attack on his First Amendment rights.At stake in the trial is how much Jones will pay. The parents have asked the jury to award $150 million in compensation for defamation and intentional infliction of emotional distress. The jury will then consider whether Jones and his company will pay punitive damages.The trial is just one of several Jones faces.Courts in Texas and Connecticut have already found Jones liable for defamation for his portrayal of the Sandy Hook massacre as a hoax involving actors aimed at increasing gun control. In both states, judges issued default judgements against Jones without trials because he failed to respond to court orders and turn over documents.Jones has already tried to protect Free Speech Systems financially. The company filed for federal bankruptcy protection last week. Sandy Hook families have separately sued Jones over his financial claims, arguing that the company is trying to protect millions owned by Jones and his family through shell entities. A look back: Sandy Hook Elementary School shooting 62 photos In: alex jones Sandy Hook","Father of 6-year-old killed in Sandy Hook shooting testifies Alex Jones made his life a ""living hell""."
"U.S. Dollar banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 3 (Reuters) - The U.S. dollar remained elevated on Wednesday following its biggest surge in three weeks against major peers overnight, with Federal Reserve officials talking up the potential for further, aggressive interest rate hikes.The greenback continued its rise versus the safe-haven yen, extending its best gain for six weeks, as U.S. Treasury yields also rebounded after House Speaker Nancy Pelosi's arrival in Taiwan was met with a strong, but not off-the-scale response by China.New Zealand's dollar dropped following a surprise rise in the unemployment rate. Australia's currency also tumbled.Register now for FREE unlimited access to Reuters.comThe U.S. dollar index , which gauges the currency against six major peers including the yen, was 0.05% higher at 106.50, after rebounding 1% overnight following its slide to a nearly one-month low at 105.03.The dollar rose 0.51% to 133.84 yen , after jumping 1.2% on Tuesday. Earlier in the day it had sunk to a nearly two-month low of 130.40.Benchmark long-term Treasury yields , which the dollar-yen pair tends to track closely, were around 2.75% in Tokyo, holding close to overnight highs following a 14 basis point surge.On Tuesday, San Francisco Fed President Mary Daly and Chicago Fed President Charles Evans signalled that they and their colleagues remain resolute and ""completely united"" over getting rates up to a level that will more significantly curb economic activity. read more The comments by ""the normally very dovish Daly"" and ""the equally very dovish Evans"" helped yields and the dollar higher, and the dollar index could top 108 ""in the next few weeks,"" according to Kristina Clifton, a strategist at Commonwealth Bank of Australia, writing in a note to clients.Traders now see a chance of about 44% that the Fed will hike by another 75 basis points at its next meeting in September.Pelosi's safe arrival in Taiwan, which China considers a breakaway province, prompted anger in Beijing, with warplanes buzzing the Taiwan Strait and the announcement of live-fire military drills. read more ""In the lead up to the event there was some geopolitical risk premium being priced,"" Tapas Strickland, an analyst at National Australia Bank, wrote in a note. But ultimately ""with China making a strong, but importantly not an 'unhinged' response,"" that risk premium was removed, lifting yields and the dollar-yen pair, Strickland wrote.The euro slipped 0.1% to $1.01555, while sterling lost 0.12% to $1.2144.The Australian dollar sank 0.44% to $0.689, extending a 1.52% slide from Tuesday, when the nation's Reserve Bank hiked the key rate by another half point, as expected, but opened the door to slowing the pace of tightening. read more New Zealand's dollar dropped 0.58% to $0.62185 after a surprise rise in the unemployment rate to 3.3% in the second quarter, when economists had predicted it would ease to 3.1%. read more Register now for FREE unlimited access to Reuters.comReporting by Kevin Buckland; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Dollar climbs with U.S. yields after Fed doves say expect more rate hikes.
"Politics August 2, 2022 / 9:17 PM / CBS News GOP's chances of gaining House control CBS News Battleground Tracker: GOP poised to take control of House in November 06:03 New York Democratic Rep. Carolyn Maloney said Tuesday that she doesn't ""believe"" that President Joe Biden is going to run for re-election in 2024. ""I don't believe he's running for re-election,"" she said when asked if Mr. Biden should run again in 2024.She made the comments during a congressional primary debate in New York's 12th District. One of her opponents and a longtime colleague, Rep. Jerry Nadler, said it was ""too early to say"" if Mr. Biden should run again. Suraj Patel, who is challenging Maloney for the third time in a row, said he does believe Mr. Biden should run again.  Maloney's answer comes at a time where multiple congressional Democrats are being more open with their doubts about whether the 79-year-old president should run for reelection in 2024.  Rep. Carolyn Maloney speaks during New York's 12th Congressional District Democratic primary debate hosted by Spectrum News NY1 and WNYC at the CUNY Graduate Center, Tuesday, Aug. 2, 2022, in New York. Mary Altaffer / AP The president and his aides consistently say he intends to run in 2024. On Tuesday, when asked if she'd support Mr. Biden if he runs in 2024, Democratic Rep. Angie Craig of Minnesota's 2nd District told the MinnPost, ""I would say we need new leaders in Washington up and down the ballot in the Democratic Party.""She lined up with Democratic Rep. Dean Phillips of Minnesota's 3rd District, who said last Thursday during a radio interview that he doesn't think Mr. Biden should run. ""I think the country would be well-served by a new generation of compelling, well-prepared, dynamic Democrats who step up,"" Phillips said on WCCO-AM. ""I think it's time for a generational change… and I think most of my colleagues agree with that.""""I think Dean Phillips and I are in lockstep and alignment with that and I'm going to do everything in my power as a member of Congress to make sure that we have a new generation of leadership,"" Craig told the MinnPost.  A CBS News poll released July 31 had Biden at a 58% disapproval level. Multiple polls released in July show that at this moment, a majority of Democrats don't want him to run again. The New York Times' survey from July 11 showed 64% of Democratic voters want someone else to run for the nomination. In a CNN poll from July 27, 75% said they want another candidate besides Mr. Biden to run.  Aaron Navarro Aaron Navarro is an associate producer for the political unit at CBS News, focusing on House and gubernatorial campaigns as well as the census and redistricting. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Maloney said she doesn't ""believe"" Biden is going to run for reelection."
"get the free app Updated on: August 2, 2022 / 10:14 PM / CBS News Primaries test Trump's hold on Republican Party Primaries test Trump's hold on Republican Party 02:15 Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.With former President Donald Trump's influence looming large in some of Tuesday's primaries, a CBS News poll released Tuesday showed that for Republicans, a Trump endorsement is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans. ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.In the race to take on Gov. Gretchen Whitmer, CBS News projects Tudor Dixon will win the Republican nomination. Dixon, backed by Trump, had been seen by Republican strategists as the strongest candidate to take on Whitmer. Among the Republicans Dixon defeated was Ryan Kelley, who was arrested in June related to his participation in the Jan. 6 attack on the U.S. Capitol. WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state is voting on whether the right to an abortion may be constitutionally protected. In 2019, Kansas' state Supreme Court ruled that abortion is protected in the state constitution's bill of rights. Voters are deciding whether to allow the constitution to be amended in order to ban abortion rights.In other words, a ""yes"" vote for the amendment would enable an abortion ban to be passed.A ""no"" vote on the amendment means abortion rights would be preserved.     6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    Updated 8m ago U.S. Senate Missouri Republican primary: CBS News projects Eric Schmitt wins CBS News projects Eric Schmitt will win the Republican nomination for U.S. Senate in Missouri.   6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment on abortion Yes: An amendment will be added to the state's constitution that will allow abortion to be restricted or banned. No: The state constitution will remain as is, reaffirming the right to an abortion.   Updated 9:03 PM Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    Updated 27m ago Michigan Republican governor primary: CBS News projects Tudor Dixon will win CBS News projects Tudor Dixon will win the Michigan Republican primary for governor   6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Live Updates: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"U.S. House of Representatives Speaker Nancy Pelosi visits the parliament in Taipei, Taiwan August 3, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 3 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi told the Taiwanese parliament on Wednesday the U.S. chip bill would offer a good opportunity for U.S.-Taiwan cooperation in the chip industry.Pelosi also said she wants to increase parliamentary exchanges with Taiwan.Register now for FREE unlimited access to Reuters.comReporting by Yi-Mou Lee; Writing by Ryan Woo; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.",Pelosi says U.S. chip bill offers opportunity for U.S.-Taiwan cooperation.
"get the free app Updated on: August 2, 2022 / 9:49 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.With former President Donald Trump's influence looming large in some of Tuesday's primaries, a CBS News poll released Tuesday showed that for Republicans, a Trump endorsement is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans. ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state is voting on whether the right to an abortion may be constitutionally protected. In 2019, Kansas' state Supreme Court ruled that abortion is protected in the state constitution's bill of rights. Voters are deciding whether to allow the constitution to be amended in order to ban abortion rights.In other words, a ""yes"" vote for the amendment would enable an abortion ban to be passed.A ""no"" vote on the amendment means abortion rights would be preserved.     6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment on abortion Yes: An amendment will be added to the state's constitution that will allow abortion to be restricted or banned. No: The state constitution will remain as is, reaffirming the right to an abortion.   Updated 9:03 PM Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    Updated 19m ago Michigan Republican governor primary: CBS News projects Tudor Dixon will win CBS News projects Tudor Dixon will win the Michigan Republican primary for governor   6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"Workers construct the Mountain Valley Pipeline near Elliston, Virginia, U.S. September 30, 2019. Picture taken September 30, 2019. REUTERS/Charles Mostoller/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - A deal among U.S. Senate Democrats that would provide faster approvals for fossil fuel projects in exchange for party-line support for a spending bill focused on tackling climate change drew harsh criticism from environmental groups on Tuesday.U.S President Joe Biden and Senate Democratic leaders have agreed to measures speeding fossil fuel permitting, including for the controversial Mountain Valley natural gas pipeline in Appalachia, to secure West Virginia Senator Joe Manchin's backing for a $430 billion spending bill, according to Manchin's office and a summary of the agreement seen by Reuters.The bill would increase corporate taxes and be the biggest ever U.S. government investment in combating global warming.Register now for FREE unlimited access to Reuters.comFollowing the news, which was first reported late on Monday, energy company Equitrans Midstream Corp said it would complete the natural gas pipeline from West Virginia to Virginia in the second half of 2023. read more The side deal would also deliver a range of permitting reforms for large infrastructure projects, according to the one-page summary. Those reforms include limiting the length of environmental reviews, centralizing the power to approve projects to just one government agency, identifying priority energy projects to be fast-tracked, and reining in the length of court challenges.The White House did not respond to requests for comment.""The price to be paid for Manchin's vote looks more and more like an oil and gas wish list,"" Jean Su, energy justice program director for the Center for Biological Diversity, said in an emailed statement. ""This backroom deal threatens communities and the environment, while shunting aside state and tribal input.""Senate Republicans expressed skepticism about the agreement, demanding to see more details.""With no legislative text, Dems can walk away from the table once they get their partisan bill passed,"" Senator Shelley Moore Capito said in a tweet.An oil and gas industry source, who did not want to comment publicly without seeing formal legislative language, said the sector applauded efforts to streamline permitting.""It's very important that Senator Manchin, as part of the agreement, introduce the legislation and urge Congress to take it up,"" the source said. ""Congress needs to act on it.""Register now for FREE unlimited access to Reuters.comReporting by Nichola Groom
Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.",Fossil fuel side deal for U.S. climate bill slammed by green groups.
"Missouri Attorney General Eric Schmitt speaks during a news conference after the U.S. Supreme Court heard oral arguments in President Joe Biden's bid to rescind a Trump-era immigration policy that forced migrants to stay in Mexico to await U.S. hearings on their asylum claims, in Washington, U.S., April 26, 2022. REUTERS/Elizabeth FrantzRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - State Attorney General Eric Schmitt has won the Republican nomination for Missouri's U.S. Senate race, Edison Research projected on Tuesday.He beat out Eric Greitens, a former governor who resigned in disgrace in 2018, and Representative Vicky Hartzler, who was endorsed by U.S. Senator Josh Hawley. He will face a Democratic candidate in the Nov. 8 midterm election.Register now for FREE unlimited access to Reuters.comReporting by Moira Warburton in Washington
Editing by Alistair BellOur Standards: The Thomson Reuters Trust Principles.",State AG Schmitt wins Republican nomination for Missouri's U.S. Senate seat.
"When Kaivalya Vohra wanted to drop out of Stanford University to run his startup, it took ""a couple of long conversations"" to convince his parents.But bringing them on board wasn't too difficult, he said.""They saw how this business was growing in front of them, they saw how quickly we achieved what we achieved."" It took just nine months for Vohra and his co-founder, Aadit Palicha, to bring Zepto — an app from India that promises to deliver groceries in less than 10 minutes — to a valuation of $900 million. Going in with the mindset that you're wrong and learning where to get right … that journey has been humbling.Aadit PalichaCo-founder and CEO, ZeptoHow did two teenagers build one of India's fastest-growing quick commerce apps? CNBC Make It finds out. 1. Talk to customers Finding a good product-market fit is important, said Vohra. His advice on how to do that?""Speak to customers. Just use that as a holy grail [to] ensure you're on the right track to finding product market fit.""""One of the hardest things is actually getting to that point where you have a product that people love … It is much easier and much faster if you're constantly speaking to customers, getting feedback from them and learning from them,"" he added.In the early days of Zepto, the 19-year-olds handled customer support themselves and delivered groceries to consumers just so that they could have a quick chat with them. Zepto isn't the only quick commerce startup in India, and competition is heating up both domestically and globally. The country's online grocery market is set to be worth around $24 billion dollars by 2025, according to Redseer.Zepto""We still do it till this day … We've got millions of customers, with hundreds of thousands of orders every day. [We still] spend a significant amount of time just speaking to customers, learning from them,"" said Palicha. ""Going in with the mindset that you're wrong and learning where to get right … that journey has been humbling."" 2. Fall in love with your product Palicha and Vohra weren't always taken seriously — not just because of their age, but also because of the ""craziness"" of an under-10 minutes delivery idea.""When we started this 12 months ago, every conversation we had was, 'You're totally out of your mind, this is never going to work,'"" said Palicha. But their conviction in their product kept them going. ""Kaivalya and I fell in love with the product so much that we just saw ourselves as custodians of what would probably end up being a large phenomenon in consumer internet in India,"" said Palicha. ""If we don't build it, somebody else will. When you operate with that mentality, everything becomes less intimidating.""Falling in love with the product and building that conviction really just pushes you to … see that product through.Aadit PalichaCo-founder and CEO, ZeptoThat's why the duo could take on ""challenging conversations"" with investors, senior executives, and even a government official, Palicha added. Despite being just one of many businesses to join the instant commerce wave, it has caught the attention of investors. Its latest cash injection of $200 million in May brought Zepto one step closer to unicorn status. ""Falling in love with the product and building that conviction really just pushes you to … see that product through,"" said Palicha.3. Be accountable Palicha and Vohra have been friends since they were seven-year-olds — a major advantage as they turned from childhood pals to business partners. ""Kaivalya and I really complement each other's skill set. He has always been more technically sound than I am, so he's made a great chief technology officer,"" said Palicha. ""12 months ago, when we were building the first iteration of the product, I don't think we'd been able to get it off the ground [without him]."" Kaivalya Vohra (left) and Aadit Palicha are the teenagers behind Zepto, a startup from India that promises to deliver groceries in less than 10 minutes.Zepto",How two teens built an app worth $900 million — Zepto’s founders share three tips.
"U.S. August 2, 2022 / 8:30 PM / AP Weather extremes strike across U.S. Weather extremes strike across U.S. 01:16 The medical examiner's office in Washington state's most populous county, which includes Seattle, has reported six heat-related deaths following a heat wave that encompassed much of the Pacific Northwest last week. In Oregon, the state medical examiner's office said Monday it was investigating 14 deaths as possibly heat-related during the hot spell. According to the King County Medical Examiner's office in Washington, three people — ages 64, 65 and 77 — died from hyperthermia between July 27 and 30, and three people — ages 22, 23 and 67 — died from accidental drownings during the heat wave, The Seattle Times reported. The data is preliminary and more heat-related deaths might be reported later, according to the medical examiner. The National Weather Service issued an excessive heat warning for the Puget Sound region from July 26-31, and Seattle set a new record with six consecutive days of high temperatures above 90 degrees Fahrenheit. Additionally, between Tuesday and Friday, 61 emergency department visits for heat-related illness were recorded in King County, according to Public Health - Seattle & King County. And emergency medical services in King County responded to over 50 suspected heat-related illness reports between July 26 and July 31. Climate change is fueling longer heat waves in the Pacific Northwest, a region where weeklong heat spells had been rare, according to climate experts. Last year, about 800 people died in Oregon, Washington, and British Columbia during a heat wave in late June and early July. The temperature hit an all-time high of 116 degrees in Portland.  In: Seattle Climate Change Oregon Heat Wave Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",6 deaths in Seattle area blamed on recent heat wave.
"Former Missouri Gov. Eric Greitens greets supporters as he head into his polling place to vote in Missouri's primary election Tuesday, Aug. 2, 2022, in Innsbrook, MO.Jeff Roberson | APEric Greitens, the scandal-tarred former Missouri governor who launched a comeback bid against the wishes of many Republicans, will lose the state's GOP Senate primary, NBC News projects.Eric Schmitt, currently the state's attorney general, is projected to proceed to the general election, where he will compete with a Democratic nominee for the seat being vacated by retiring Republican Sen. Roy Blunt.The primary results mark a thudding defeat for Greitens, who fully embraced former President Donald Trump and fought against recent allegations of domestic abuse as he looked to claw his way back to the political fore.Greitens had announced his Senate bid nearly three years after resigning from the governor's office amid accusations that he blackmailed a hairdresser with whom he was having an affair. Greitens admitted to the tryst, but denied he had threatened to release nude photographs he took of her if she revealed the affair.He was charged with felony invasion of privacy related to the alleged blackmailing. Greitens was also charged with illegally using a charity donor list to help fund his 2016 gubernatorial campaign. Both charges were dropped around the time Greitens resigned in June 2018.Those and other scandals led mainstream Republicans to worry about a Greitens candidacy jeopardizing the party's hold on a Senate seat in a state that otherwise reliably votes Republicans into high office. Democrats are desperate to keep their razor-thin majority in the Senate, but their control of the chamber is threatened by a challenging political environment, exacerbated by President Joe Biden's unpopularity and recent economic turmoil.Greitens had aligned himself completely with Trump during his Senate campaign, including echoing Trump's false claims about widespread fraud tainting the 2020 presidential election. Kimberly Guilfoyle, the girlfriend of Donald Trump Jr., joined Greitens' campaign as national co-chair.But the former president ultimately did not give Greitens a full-throated endorsement. Rather, he bizarrely endorsed ""Eric"" in the Missouri GOP Senate primary, where two of the top candidates are named Eric.""I trust the Great People of Missouri, on this one, to make up their own minds,"" Trump said in a social media post on the eve of the primary.Both Greitens and Missouri Attorney General Eric Schmitt touted Trump's announcement as though it were a personal endorsement.Polling averages from RealClearPolitics showed Greitens had a smaller lead over a top Democratic primary candidate than either of his two biggest competitors in the Republican primary.After Sheena Greitens filed court documents in March alleging Eric Greitens abused her and their young son while they were married, numerous top Republicans called on Greitens to drop out.""If you hit a woman or a child, you belong in handcuffs, not the United States Senate,"" said Sen. Josh Hawley, R-Mo., who had investigated Greitens when he was Missouri's attorney general.Blunt himself said that Greitens ""should not be a candidate for the Senate"" if Sheena Greitens' allegations are true.","Eric Schmitt beats former Gov. Eric Greitens in Missouri GOP Senate primary, NBC projects."
"A general view of the historical Al-Ashrafia Mosque in Taiz, Yemen May 24, 2022. REUTERS/Anees Mahyoub/FilesRegister now for FREE unlimited access to Reuters.comBEIRUT, Aug 2 (Reuters) - Yemen's warring parties have agreed to extend a U.N.-brokered truce for another two months in a conflict that has killed tens of thousands of people and spawned a major humanitarian crisis.How did the Yemen war begin, why does the truce matter and can it be turned into a broader peace process?HOW DID THE WAR BEGIN?Register now for FREE unlimited access to Reuters.comThe war began in late 2014 when the capital Sanaa was seized by the Houthis, an Iran-aligned movement belonging to the Zaydi sect of Shi'ite Islam with a power base in the north.Worried by the growing influence of Shi'ite Iran along its border, Sunni powerhouse Saudi Arabia intervened at the head of a Western-backed coalition in March 2015 in support of the Saudi-backed government.The Houthis established control over much of the north and other big population centres, while the internationally recognised government headquartered itself in Aden.HOW DID THE TRUCE COME ABOUT?The parties agreed to a two-month truce in April sponsored by the United Nations after intensified international efforts following an escalation of military operations in Yemen and Houthi strikes on Saudi Arabia and the United Arab Emirates.Yemen became a point of tension between Saudi Arabia and the United States under the administration of Joe Biden, who had halted U.S. support for offensive coalition operations.Riyadh was already seeking to exit a war that had been in military stalemate for years before the Houthis advanced in energy-rich Marib and in Shabwa, where they were repelled by UAE-backed Yemeni forces.The conflict is also seen as a bargaining chip for Iran, with which Saudi Arabia launched direct talks last year.The terms of the truce deal, rolled over in June, allowed some fuel shipments into Hodeidah port to ease severe shortages in Houthi-held areas and select commercial flights from Sanaa.Parallel talks were launched to reopen main roads in Taiz, which remains effectively under Houthi siege, but stalled.WHY A RENEWAL MATTERSThe U.N. special envoy has credited the truce with bringing the longest period of relative calm in over seven years and a significant decrease in civilian casualties.Humanitarian groups say the Sanaa flights have allowed over 8,000 Yemenis to access medical care and pursue education and business opportunities. Greater access to fuel has helped maintain public services and access to them.The truce has also increased humanitarian access in a country where more than 17 million people require food aid.The U.N. is seeking an extended and expanded truce to provide a platform for further trust-building, discussions on economic priorities such as revenues and salaries and on establishing a permanent ceasefire.The ultimate aim is to move toward a political settlement that comprehensively ends the conflict.WHAT ARE THE PROSPECTS OF POLITICAL PROGRESS?Turning the truce into a political agreement is seen as a tall order due to deep mistrust and competing agendas among Yemen's myriad factions. Even within the anti-Houthi coalition there are several groups vying for power, including UAE-backed southern separatists who want to split from the north.""Given that the parties to the conflict have sharply different ideas about what a peace process might look like, it will be very difficult to transition from truce to talks,"" said Peter Salisbury of Crisis Group.To build confidence, the United Nations would need to make progress on reopening roads in and around Taiz city and negotiating nationwide salary payments, he said.HOW BIG IS THE RISK OF MORE FIGHTING?Both sides have reported alleged truce violations and reinforcements to main front lines, the U.N. says.Amr al-Bidh of the separatist Southern Transitional Council, part of the anti-Houthi alliance, has said sides are warily preparing for fresh hostilities even with a truce extension. read more Yemen needs a political process that creates space for long-term multiparty dialogue, Salisbury said.""But the more likely outcome is a big international push for a peace deal that addresses the Houthis’ and the Saudis’ needs, but leaves most other Yemeni groups marginalised and livid — a breeding ground for renewed conflict.""Riyadh wants to focus on economic ambitions and improve ties with Washington. Sources have said the Biden administration is discussing possibly resuming U.S. sales of offensive weapons to Riyadh, but any final decision would hinge on securing a permanent ceasefire. read more Register now for FREE unlimited access to Reuters.comWriting by Tom Perry; Editing by Ghaida Ghantous and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.","Explainer: With Yemen truce renewed, what are the prospects of peace?."
"get the free app Updated on: August 2, 2022 / 9:49 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.With former President Donald Trump's influence looming large in some of Tuesday's primaries, a CBS News poll released Tuesday showed that for Republicans, a Trump endorsement is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans. ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state is voting on whether the right to an abortion may be constitutionally protected. In 2019, Kansas' state Supreme Court ruled that abortion is protected in the state constitution's bill of rights. Voters are deciding whether to allow the constitution to be amended in order to ban abortion rights.In other words, a ""yes"" vote for the amendment would enable an abortion ban to be passed.A ""no"" vote on the amendment means abortion rights would be preserved.     6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment on abortion Yes: An amendment will be added to the state's constitution that will allow abortion to be restricted or banned. No: The state constitution will remain as is, reaffirming the right to an abortion.   Updated 46m ago Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    Updated 1m ago Michigan Republican governor primary: CBS News projects Tudor Dixon will win CBS News projects Tudor Dixon will win the Michigan Republican primary for governor   6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"A deer is seen dead by the side of a road after the McKinney Fire affected an area near Yreka, California, U.S., August 1, 2022. REUTERS/Carlos Barria TPX IMAGES OF THE DAYRegister now for FREE unlimited access to Reuters.comYREKA, Calif., Aug 2 (Reuters) - Search teams have located two more bodies in an area scorched by a forest fire raging for a fifth day in northern California near the Oregon border, bringing to four the number of lives lost in the state's biggest blaze this year, officials said on Tuesday.The latest two victims were found on Monday at separate homes along a highway that runs through the fire zone in the Klamath National Forest about 300 miles (483 km) north of San Francisco, according to a statement issued by the Siskiyou County Sheriff's Office.The remains of two other people, who were apparently trying to escape the fire at the last minute, were discovered on Sunday inside a burned-out car that ran off the driveway of another home along the same highway, sheriff's officials said on Monday. read more Register now for FREE unlimited access to Reuters.comAuthorities said no further information would be released on any of the deaths until positive identification is made and the next of kin have been notified.Since erupting on Friday, the so-called McKinney fire has charred more than 56,000 acres (22,662 hectares) of drought-parched timber, tall grass and brush, fire officials said on Tuesday.Roughly 4,500 people were under evacuation orders as of Tuesday, sheriff's spokesperson Courtney Kreider said, adding that an estimated 100 structures, from sheds to houses, have gone up in flames.The unincorporated riverfront enclave of Klamath River, with a population of fewer than 200 residents, was especially hard hit, losing numerous homes and its community center to the fire, Kreider said.Nearly 5,000 dwellings countywide were listed as threatened by flames.The doubling of the death toll came after a night of relatively mild fire growth compared with previous nights. High humidity levels helped tamp down the flames while crews made progress carving buffer lines to protect communities on the edge of the fire zone, Dennis Burns, a fire behavior analyst for the incident management team, told a morning briefing.Much of the effort was focused on the outskirts of Yreka, the Siskiyou County seat and former Gold Rush town now home to 7,800 residents.Burns said thunderstorms in the forecast may bring welcome rainfall to the area, or erratic winds that could fan the flames anew, as well as possible lightning strikes that might ignite further fires.The cause of the McKinney blaze was under investigation.The fire erupted amid record-breaking heat in a region where drought-desiccated trees and undergrowth had already created a highly combustible fuel bed, in keeping with extreme conditions scientists ascribe to human-induced climate change.Register now for FREE unlimited access to Reuters.comReporting by Carlos Barria in Yreka, Calif.; Writing and Additional Reporting by Steve Gorman in Los Angeles; Editing by Bill Berkrot and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Death toll climbs to 4 in California's largest wildfire this season.
"The biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that's squeezing shoppers' budgets.Simon Property Group, the country's largest mall owner, said the pipeline of businesses slated to open up at its properties remains strong. The company reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier.""Even with with what's going on in the world, we really haven't seen anyone back out of deals,"" Simon Property Chief Executive Officer David Simon said on an earnings conference call Monday.""We're seeing a big rebound in Vegas, Florida is on fire ... California is finding its legs,"" he added.Fueling the openings are a mix of factors, including retailers pushing to snap up limited space and popular online brands looking to expand by opening up brick-and-mortar locations. Some retailers are eyeing real estate in markets outside of major cities as they follow people who uprooted to find bigger spaces during the Covid pandemic. And companies including Macy's that shuttered stores in recent years are now testing different formats, often with smaller footprints.So far this year, retailers in the U.S. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings.Before the pandemic, the industry was seeing net closures of thousands of stores every year as consumers increasingly moved their spending online. In 2019, Coresight tracked 9,832 closures, compared with 4,689 openings. Last year, the retail industry eked out a net addition of 68 stores.""Retailers are not going to pull back on store growth,"" said Naveen Jaggi, president of the retail advisory team at JLL, a commercial real estate services firm. ""They're going to continue to grow because that's one of the ways that they can send a message to the market that, 'We're healthy and safe.'""The optimism from retail real estate owners comes amid warning signs from across the industry. In recent weeks, retailers including Walmart, Target, Best Buy, Gap and Adidas slashed their sales or profit outlooks as consumers squeezed by higher gas and grocery bills rein in spending on other items. At the same time, though, luxury retailers including Birkin bag maker Hermes and Louis Vuitton parent LVMH say profits are strong and sales are growing as higher-income consumers continue to splurge on pricey fashion and accessories.At its malls, Simon Property also said it's noticing a split in behavior. Consumers who shop at value-oriented retailers are more likely to be pulling back, Simon said, as are younger shoppers who don't earn as much money. Among those seeing softening sales are the company's teen and fast-fashion retailers Aeropostale and Forever 21, as well as its J.C. Penney department store chain, he said.But he said businesses like men's suit retailer Brooks Brothers, which Simon Property also owns, continues to ring up sales.""The higher-income consumer is still spending money,"" Simon said.Macerich, which operates malls including Tysons Corner Center in Virginia and Scottsdale Fashion Square in Arizona, noted that distress in the retail industry has slowed dramatically after a pandemic-spurred wave of closures in 2020.""Clearly, there are economic uncertainties due to inflation, rising interest rates and the war in Ukraine,"" Macerich CEO Thomas O'Hern said on a conference call last Thursday. ""However, we continue to expect gains in occupancy, net operating income and cash flow from operations through the remainder of this year and into next year.""Macerich said its leasing activity in the second quarter reflected retailer demand at levels not seen since 2015. The company also said it recently polled around 30 of its biggest national tenants and found that roughly 90% have not changed their plans to open new locations this year and next.Also fueling store openings are retailers that started online and are now looking to expand with physical locations, said Douglas Healey, senior executive vice president of leasing at Macerich. Those include athletic apparel brands Fabletics, Alo Yoga and Vuori, shoe maker Allbirds and furniture chain Interior Define, he said.Macerich said it signed 274 leases in the quarter ended in June, up 27% from a year earlier and up 42% from pre-Covid 2019 levels.Conor Flynn, CEO of shopping center owner Kimco, said he has ""cautious optimism"" about the state of business, given the pressures on consumers. Some retailers are taking advantage of tough times to snag vacant storefronts they will want in years to come, he said on a conference call last Thursday.Construction of new retail space has also hit the brakes for the most part during the pandemic, according to David Jamieson, Kimco's chief operating officer. He said that has put more pressure on businesses to compete for the best available spaces.The availability of retail space at all types of properties including malls in the U.S. hit a 10-year low in the second quarter, according to CBRE, a real estate services and investment firm.The plans for new openings come even as visits to malls and shopping centers appear to be slowing this summer amid inflationary pressures, though analysts and executives say those who do visit are more likely to buy something.Simon said it reported record sales of $746 per square foot at its malls and outlets combined, in the second quarter. Visits to indoor U.S. malls in June rose 1.5% compared with the prior year, marking the smallest gain so far this year, according to Placer.ai, a retail analytics firm. Visits to outlet centers dropped 6.7%. The distance that it takes many consumers to drive to outlet centers has resulted in a falloff in visits as gas prices remain inflated, Placer.ai said.",Mall owners say retailers are still opening stores in spite of recession fears.
"A store owner prepares fruits for sale at a clothing store following the coronavirus disease (COVID-19) outbreak, in Yichang, Hubei province, China April 23, 2020. China Daily via REUTERS Register now for FREE unlimited access to Reuters.comBEIJING, Aug 3 (Reuters) - China is suspending imports of citrus fruits, chilled white striped hairtail and frozen horse mackerel from Taiwan starting Aug. 3, China's customs said on Wednesday.Earlier in the day, China's commerce ministry said China will suspend export of natural sand to Taiwan from Aug. 3.Register now for FREE unlimited access to Reuters.comReporting by Beijing newsroom; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","China customs suspends imports of citrus fruits, some fish products from Taiwan."
"Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Conservative commentator Tudor Dixon won the Republican nomination for Michigan governor on Tuesday, Edison Research projected, and will face Democratic Governor Gretchen Whitmer in the November general election in one of the most high-profile races.Dixon's victory over several rivals followed a chaotic Republican primary campaign that saw half the field of candidates disqualified after a scandal involving falsified petition signatures, as well as the arrest of one contender on misdemeanor charges stemming from his presence during the Jan. 6, 2021 attack on the U.S. Capitol.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, Editing by Ross Colvin and Alistair BellOur Standards: The Thomson Reuters Trust Principles.",Conservative Tudor Dixon wins Republican nomination for Michigan governor.
"Enrique Pena Nieto delivers his sixth and last State of the Union address at the National Palace in Mexico City, Mexico September 3, 2018. REUTERS/Carlos JassoRegister now for FREE unlimited access to Reuters.comMEXICO CITY, Aug 2 (Reuters) - Mexico's attorney general's office is investigating former President Enrique Pena Nieto for alleged money laundering, illicit enrichment, and illegal international transfers, two sources familiar with the matter told Reuters on Tuesday.The sources said Pena Nieto, who was president from 2012 to 2016, is the person identified as ""Enrique P"" in a statement from the attorney general's office (FGR) on Tuesday.Reuters was not able to immediately contact Pena Nieto for comment. He previously denied any wrongdoing when reports of an investigation by Mexico's anti-money laundering unit emerged last month.Register now for FREE unlimited access to Reuters.comPena Nieto has not been charged with a crime.The Tuesday statement said the FGR was ""developing investigation procedures"" into various federal crimes. In the statement, the FGR said it was investigating crimes related to Spanish construction company OHL (OHLA.MC).OHL did not immediately respond to a request for comment outside business hours.In 2016, the Mexican unit of OHL was fined over inadequacies in its financial reporting. The company said then that there was no evidence of fraud.At the time, OHL Mexico had been hit by corruption allegations over leaked recordings in which its executives appeared to be discussing overcharging the government for a highway concession.The FGR said the investigations into money laundering and illegal international transfers stemmed from complaints by tax authorities.In July, Mexico's anti-money laundering unit asked the FGR to investigate millions of dollars' worth of money transfers abroad addressed to Pena Nieto. read more Pena Nieto addressed the accusations in a series of tweets at the time, saying, ""I am certain that before the competent authorities I will be allowed to clarify any question about my assets and demonstrate their legality.""Register now for FREE unlimited access to Reuters.comReporting by Lizbeth Diaz; Writing by Valentine Hilaire and Brendan O'Boyle; Editing by Stephen Eisenhammer, Lincoln Feast and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","Mexico probes former president Pena Nieto for money laundering, sources say."
"Republican Michigan Gubernatorial candidate Tudor Dixon, flanked by her children, speaks with members of the media outside the Norton Shores Fire Station 3 after voting on Tuesday, Aug. 2, 2022 in Grand Rapids, MI.Kent Nishimura | Los Angeles Times | Getty ImagesTudor Dixon, a former conservative commentator and actor endorsed by ex-President Donald Trump, will win Michigan's Republican gubernatorial primary election, NBC News projects.Dixon will face off in the general against incumbent Gov. Gretchen Whitmer, who ran unopposed in the Democratic primary.In the tumultuous Republican gubernatorial primary, meanwhile, Dixon emerged as a frontrunner only after multiple leading candidates were disqualified from the ballot and another was arrested on misdemeanor charges related to the Jan. 6 Capitol riot.Dixon could be facing an uphill battle against Whitmer, whose bid for a second term in office is buoyed by a well-funded campaign and strong approval ratings. Despite President Joe Biden's unpopularity in the state threatening to dampen Democratic enthusiasm across the board, recent polls showed Whitmer above water. Surveys conducted before the primary also showed Whitmer leading Dixon in a hypothetical matchup.But Dixon is also backed by the powerful DeVos family, which is reportedly connected to super PACs that have spent more than $2 million in support of her candidacy. Betsy DeVos was Trump's former Secretary of Education, but she resigned after Jan. 6, 2021, later saying that Trump crossed a ""line in the sand.""Dixon took a consistent and growing lead in the GOP primary over the past month, according to polls compiled by RealClearPolitics. Trump endorsed her less than a week before Election Day.Before Trump announced his endorsement, DeVos penned a handwritten note to the former president, urging him to back him Dixon, The New York Times reported.Dixon, like other candidates in Michigan's Republican primary, had previously echoed Trump's false claims about key election results in 2020 being rigged through widespread fraud. On the weekend before the primary and after receiving Trump's endorsement, Dixon offered more ambiguous language, saying she had concerns about how the race was prosecuted in her state.",Trump-backed gubernatorial candidate Tudor Dixon wins Michigan Republican primary.
"Alibaba has faced growth challenges amid regulatory tightening on China's domestic technology sector and a slowdown in the world's second-largest economy. But analysts think the e-commerce giant's growth could pick up through the rest of 2022.Kuang Da | Jiemian News | VCG | Getty ImagesAlibaba's revenue could decline for the first time on record when it reports June quarter earnings on Thursday, analysts forecast, though it could signal the bottom for sales.The Chinese e-commerce giant is expected to report fiscal first-quarter revenue totaling 203.23 billion yuan ($30.05 billion), down 1.2% from a year ago, according to consensus forecasts from Refinitiv.Alibaba's revenue has slowed sharply over the last year amid a slowdown in the Chinese economy, a resurgence of Covid and subsequent lockdowns as well as the regulatory tightening on the domestic tech sector.But the June quarter could mark a bottom for Alibaba's results as revenue is expected to improve in the coming quarters.""In aggregate, we believe the soft June quarter results are largely expected by investors and the current focus for the stock is the recovery trend in the 2H, on which we remain positive as the government continues to step up economic stimulus to achieve its GDP growth target,"" U.S. Tiger Securities said in a note last month.September quarter revenue is expected to grow 7% while the December quarter could see near 10% growth, according to Refinitiv estimates.Softness in this week's report will mainly come from weakness in the company's China commerce revenue, China Merchants Securities said in a note published last month. Weak consumption will weigh on customer purchases while customer management revenue or CMR, will also decline due to tighter vendor ad budgets on Alibaba's platforms, China Merchants Securities said.CMR is revenue Alibaba gets from services such as marketing that the company offers to merchants on its Taobao and Tmall e-commerce platforms. Vendors cutting back on ad spend hits Alibaba's CMR.However, China Merchants Securities said it sees the China commerce business having a ""gradual recovery ... with improving profitability thanks to discipline cost control.""Alibaba could get some tailwinds in the coming quarters to help its recovery. There are signs that China's regulatory crackdown — during which Alibaba was fined 18.23 billion yuan — is beginning to ease.Meanwhile, the Chinese government in May announced a range of economic stimulus designed to help an economy battered by a resurgence of Covid and lockdowns in major cities, including financial metropolis Shanghai.However, not all analysts expect to see a return to explosive growth for Alibaba.""When I visualize my 'cone of all plausible outcomes,' the plurality of scenarios lead to a modest reacceleration of growth back to the mid-teens, but I also see a whole category of scenarios where things get much worse on the fundamentals,"" John Freeman, vice president at CFRA Research, told CNBC via email.""The cone is very wide right now.""Cloud computing in focusBesides Alibaba's core commerce business, investors are also focused on cloud computing revenue even though it still accounts for under 10% of total sales. That's because investors see Alibaba's cloud efforts as key to the company's future growth prospects and profitability.""Cloud growth reacceleration is key for me to turn positive again on the fundamentals because cloud generates much more operating leverage than e-commerce fulfillment and is intrinsically a much more profitable business,"" CFRA's Freeman said.""Cloud is the reason for most of Amazon's appreciation in value over the last decade and that could be true for Alibaba eventually.""Forecasts for the cloud business are mixed. U.S. Tiger Securities expects cloud revenue to grow 8% year-on-year in the June quarter, which would be the slowest growth rate on record. China Merchants Securities meanwhile forecasts 13% year-on-year growth, which would be a slight acceleration from the March quarter.",Alibaba could see first revenue decline on record but analysts expect sales recovery later this year.
"An Uber office is shown in Redondo Beach, California, U.S., March 16, 2022. REUTERS/Mike BlakeRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - A U.S. judge on Tuesday granted a request by prosecutors to dismiss fraud counts against a former Uber Technologies Inc (UBER.N) security chief also charged with covering up a 2016 data hack affecting 57 million passengers and drivers.U.S. District Judge James Donato in San Francisco dismissed the three wire fraud charges against Joseph Sullivan.Prosecutors had requested the dismissal in a court filing last Wednesday, without explaining why, after a different judge ruled on June 28 they could pursue the charges.Register now for FREE unlimited access to Reuters.comSullivan still faces two charges: obstructing a U.S. Federal Trade Commission proceeding, and failing to report a felony.The office of U.S. Attorney Stephanie Hinds in San Francisco declined to comment. Lawyers for Sullivan did not immediately respond to requests for comment.Sullivan is believed to be the first corporate information security officer criminally charged with concealing a hacking.Prosecutors said he tried to conceal the hacking from passengers, drivers and the FTC by arranging to pay the hackers $100,000 in bitcoin, and having them sign nondisclosure agreements that falsely stated they had not stolen data.Sullivan was also accused of withholding information from Uber officials who could have disclosed the breach to the FTC, which had been evaluating the San Francisco-based company's data security following a 2014 breach.While letting the fraud charges proceed, U.S. District Judge William Orrick nevertheless said prosecutors could not contend that Sullivan owed a duty to Uber drivers to reveal the hacking.Orrick still oversees the case. Donato was the judge on duty to handle the dismissal request.Uber fired Sullivan after learning the extent of the breach. In September 2018, the company paid $148 million to settle claims by the 50 U.S. states and Washington, D.C. that it was too slow to reveal the hacking.Register now for FREE unlimited access to Reuters.comReporting by Jonathan Stempel in New York; Editing by Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.",Fraud charges in hacking case against Uber ex-security chief are dismissed.
"Politics August 2, 2022 / 7:00 PM / CBS News The latest CBS News Battleground Tracker takes a look at what — and who — would motivate voters to back a candidate. For Republican voters, Trump-endorsed candidate — one who makes liberals angry — more likely to earn their vote Trump endorsement viewed as asset among base, particularly frequent primary voters For most Republicans, an endorsement by the former president is a plus for that candidate, and even more so among Republicans who say they ""always"" vote in Republican primaries, most of whom identify as MAGA Republicans.  A Trump endorsement doesn't have as much sway among Republicans who are less frequent primary voters, but on balance, an endorsement by the former president is a net positive for this group of Republicans, too.  2020 election still a factor for many Republicans Beyond Trump himself, there is also a desire among many Republicans for a candidate who says President Joe Biden did not legitimately win the 2020 election, perhaps not surprisingly, as two-thirds of Republicans continue to say Biden did not legitimately win.  By almost four to one, Republicans would be more likely — rather than less likely — to back a candidate who says Mr. Biden did not legitimately win in 2020. A mere 8% of Republicans would be more likely to back a candidate who says Mr. Biden legitimately won.  A candidate taking a public stance that Joe Biden legitimately won doesn't garner much support even among Republicans who think this is true — most say doing so will make no difference to them. It's the Republicans who do not believe Mr. Biden legitimately won (two-thirds of whom call themselves ""MAGA"" Republicans) who likely make up a larger share of the GOP primary electorate. By double-digits, more say they always vote in GOP primaries compared to Republicans who believe Biden really did win in 2020.  Making liberals angry: A motivator for GOP, particularly MAGA Republicans For Republican voters, a candidate who makes liberals angry appears to be just as much of a reason to back that candidate as an endorsement from Donald Trump. Fifty-three percent of Republicans say they would be more likely to vote for a candidate to make liberals angry, a figure that rises to 69% among MAGA Republicans.  We tested a range of potential candidate descriptors, including some that have been used by congressional candidates this year. For Republicans, a ""MAGA Republican"" would potentially be the most popular, with most saying they would back a candidate who described themselves that way. A ""capitalist"" would also be net positive. Calling oneself a Christian nationalist garners a very small net positive among Republicans overall, but encourages the strong support of the very conservative and self-described ""MAGA Republicans.  What about Jan. 6? Our polling has shown that while most Republicans disapprove of the actions of those who forced their way into the Capitol on Jan. 6, 2021, they do differ from the voters overall in their descriptions of what took place that day. More Republicans view it as patriotism, rather than an insurrection.  And by two one, Republicans tell us they would be less likely to vote for a candidate who criticized the events of that day.  For Democratic voters, most want a supporter of Biden's policies,  more of a factor than someone who makes conservatives angryDemocrats more likely to back progressive, Black Lives Matter supporter Most Democratic voters would be more likely to vote for a candidate who described themselves as a ""Black Lives Matter supporter, a ""social justice"" Democrat or as a progressive, and this is even more true of those who always vote in primaries. Most also want a candidate who generally supports President Biden's policies, which is far more important to them than a candidate who makes conservative angry, though the latter does appeal more to self-described progressives in the party.  This CBS News/YouGov Battleground Tracker survey was conducted with a nationally representative sample of 1,743 registered voters interviewed between July 27-29, 2022. The sample was weighted according to gender, age, race, and education based on the U.S. Census American Community Survey and Current Population Survey, as well as to 2020 presidential vote. The margin of error is ± 3.0 points. The House seats estimates are based on a multilevel regression and post-stratification model incorporating voter responses to this survey. Each party's seat estimate has a margin of error of ±12 seats.Toplines Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",CBS News Battleground Tracker: What do voters in each party want in a candidate?.
"SAN BERNARDINO, Calif., Aug 2 (Reuters) - America's largest warehouse market is full as major U.S. retailers warn of slowing sales of the clothing, electronics, furniture and other goods that have packed the distribution centers east of Los Angeles.The merchandise keeps flooding in from across the Pacific, and for one of the busiest U.S. warehouse complexes, things are about to get worse.Experts have warned the U.S. supply chain would get hit by the ""bullwhip effect"" if companies panic-ordered goods to keep shelves full and got caught out by a downturn in demand while shipments were still arriving from Asia.Register now for FREE unlimited access to Reuters.comIn the largest U.S. warehouse and distribution market - stretching east from Los Angeles to the area known as the ""Inland Empire"" – that moment appears to have arrived.""We're feeling the sting of the bullwhip,"" said Alan Amling, a supply-chain professor at the University of Tennessee.The sprawl of Inland Empire warehouses centered in Riverside and San Bernardino counties grew quickly in recent years to handle surging demand and goods imported from Asia.That booming area, visible from space, anchors an industrial corridor encompassing 1.6 billion square feet of storage space that extends from the busiest U.S. seaport in Los Angeles to near the Arizona and Nevada borders. That much storage space is nearly 44 times larger than New York City's Central Park and 160 times bigger than Tesla Inc's (TSLA.O) new Gigafactory in Texas.But a consumer spending pullback now threatens to swamp warehouses here and around the country with more goods than they can handle - worsening supply-chain snarls that have stoked inflation. Retailers left holding unwanted goods are faced with the choice of paying more money to store them or denting profits by selling them at discount.Inland Empire warehouse vacancies are among the lowest in the nation, running at a record 0.6% versus the national average of 3.1%, according to real estate services firm Cushman & Wakefield. The market is poised to get even tighter as shoppers at Walmart (WMT.N), Best Buy (BBY.N) and other retailers retreat from early COVID-era spending binges.BINGE TO BACKLOGWhile U.S. consumer spending remains above pre-pandemic levels, retailers and suppliers are raising alarms about backlogs in categories that have fallen out of fashion as consumers catch up on travel and struggle with the highest inflation in 40 years.Last week, Walmart said surging food and fuel prices left its lower-income customers with less cash to spend on goods, and Best Buy said shoppers were curbing spending on discretionary products like computers and televisions. read more Those cautionary signals followed Target Corp's (TGT.N) alert that it was saddled with too many TVs, kitchen appliances, furniture and clothes. read more Suppliers - ranging from barbecue grill maker Weber Inc (WEBR.N) to Helen of Troy Ltd (HELE.O), a consumer brands conglomerate that includes OXO kitchen tools - also have warned of slowing demand and an urgent need to clear inventories.Containers stored on a lot are seen among warehouses in Fontana, California, U.S., July 17, 2022. REUTERS/Lisa BaertleinWhile the U.S. economy was downshifting, goods kept pouring in at near-record levels.Imports to U.S. container ports that process retail goods from China and other countries jumped more than 26% in the first half of 2022 from pre-pandemic levels, according to Descartes Datamyne. Christmas shipments and the reopening of major Chinese factory hubs could goose volumes further.Meanwhile, cargo keeps flooding in to the busiest U.S. seaport complex at Los Angeles/Long Beach. During the first half of this year, dockworkers there handled about 550,000 more 40-foot containers than before the pandemic started, according to port data.Christmas toys and winter holiday decor landed on those docks in July, along with some patio furniture for Walmart and stretch pants, jeans and shoes for Target, said Steve Ferreira, CEO of Ocean Audit, which scrutinizes marine shipping invoices.Retailers ordered most of those goods months ago and many are destined for the Inland Empire's already jam-packed warehouses.""It's a domino effect. Now the inventory is going to really build up,"" said Scott Weiss, a vice president at Performance Team, a Maersk (MAERSKb.CO) company with 22 warehouses in greater Los Angeles.Demand for space in the Inland Empire is so intense that when 100,000 to 200,000 square feet of space frees up, it ""gets gobbled up in a second,"" said Weiss.SEARS AND PARKING LOTSInvestors have almost 40 million square feet under construction in the Inland Empire - including Amazon.com Inc's (AMZN.O) biggest-ever warehouse - and at least 38% is spoken for, said Dain Fedora, vice president of research for Southern California at Newmark, a commercial real estate advisory firm.While Amazon's 4.1 million square-foot facility rises on former dairy land in the city of Ontario, the online retailer has been shelving construction plans in other parts of the country.Amazon is the biggest warehouse tenant in the Inland Empire and the nation. Its decision to scale back on building, coupled with rising interest rates and the slowing economy, is sidelining other would-be Inland Empire warehouse builders, area real estate brokers and economists told Reuters.Meanwhile, the scramble for space continues.Trucking company yards and spare lots around the region have already been converted to makeshift container storage, so entrepreneurs are marketing vacant stores as last-resort warehouses in waiting.Brad Wright is CEO of Chunker, which bills itself as an AirBNB for warehouses, and works with everyone from state officials to the owners of vacated big-box stores to find new places to stash goods.During a recent tour at the former Sears anchor store in San Bernardino's Inland Center mall, Wright and a potential tenant strolled past collapsed ceiling tiles, sagging wall panels and idled escalators while working out how forklifts would navigate the abandoned space. Wright sees the empty stores as one answer to easing the log jams.""There's a lot of them sitting around, and they're in good locations,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Lisa Baertlein in Los Angeles
Additional reporting by Siddharth Cavale in New York
Editing by Kevin Krolicki, Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",America's biggest warehouse is running out of room. It's about to get worse.
"get the free app Updated on: August 2, 2022 / 9:03 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state will vote whether abortion can be constitutionally protected. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right.Kansas voters are deciding whether to pass that amendment, which will remove that constitutional right, or against it, which would keep it in place.    6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment Yes/No   Updated 6m ago Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    6:07 PM / August 2, 2022 Michigan Republican governor primary Ralph Rebandt, Ryan Kelley, Garrett Soldano, Kevin Rinke and Tudor Dixon are on the ballot.    6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"A view of the flags of Finland, NATO and Sweden during a ceremony to mark Sweden's and Finland's application for membership in Brussels, Belgium, May 18, 2022. REUTERS/Johanna Geron/PoolRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The U.S. Senate will hold votes on Wednesday on approving Finland's and Sweden's accession into NATO, Majority Leader Chuck Schumer announced on Tuesday.The debate, Schumer said, will begin at 1:30 p.m. EDT (1730 GMT).Register now for FREE unlimited access to Reuters.comReporting by Richard Cowan; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","U.S. Senate to vote Wednesday on Finland, Sweden NATO accession."
"get the free app Updated on: August 2, 2022 / 9:03 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state will vote whether abortion can be constitutionally protected. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right.Kansas voters are deciding whether to pass that amendment, which will remove that constitutional right, or against it, which would keep it in place.    6:54 PM / August 2, 2022 How to watch CBS News' election special What: CBS News' election special Date: Tuesday, August 2Time: 9 p.m. ETOnline stream: Live on CBS News in the player above and on your mobile or streaming device.   6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment Yes/No   Updated 2m ago Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    6:07 PM / August 2, 2022 Michigan Republican governor primary Ralph Rebandt, Ryan Kelley, Garrett Soldano, Kevin Rinke and Tudor Dixon are on the ballot.    6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"get the free app Updated on: August 2, 2022 / 9:03 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state will vote whether abortion can be constitutionally protected. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right.Kansas voters are deciding whether to pass that amendment, which will remove that constitutional right, or against it, which would keep it in place.    6:54 PM / August 2, 2022 How to watch CBS News' election special What: CBS News' election special Date: Tuesday, August 2Time: 9 p.m. ETOnline stream: Live on CBS News in the player above and on your mobile or streaming device.   6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment Yes/No   Updated 1m ago Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    6:07 PM / August 2, 2022 Michigan Republican governor primary Ralph Rebandt, Ryan Kelley, Garrett Soldano, Kevin Rinke and Tudor Dixon are on the ballot.    6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"get the free app Updated on: August 2, 2022 / 9:03 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state will vote whether abortion can be constitutionally protected. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right.Kansas voters are deciding whether to pass that amendment, which will remove that constitutional right, or against it, which would keep it in place.    6:54 PM / August 2, 2022 How to watch CBS News' election special What: CBS News' election special Date: Tuesday, August 2Time: 9 p.m. ETOnline stream: Live on CBS News in the player above and on your mobile or streaming device.   6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment Yes/No   Updated 1m ago Kansas Republican governor: CBS News projects Derek Schmidt will win CBS News projects Derek Schmidt will win the Republican nomination for Kansas governor.    6:07 PM / August 2, 2022 Michigan Republican governor primary Ralph Rebandt, Ryan Kelley, Garrett Soldano, Kevin Rinke and Tudor Dixon are on the ballot.    6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"A woman walks by an OCBC signage in Singapore March 31, 2022. REUTERS/Caroline ChiaRegister now for FREE unlimited access to Reuters.comSINGAPORE, Aug 3 (Reuters) - Singapore's second-largest lender Oversea-Chinese Banking Corp Ltd (OCBC) (OCBC.SI) reported a stronger-than-expected 28% jump in quarterly profit and gave a robust outlook as rising interest rates pushed up its net interest margins.With Singapore relaxing most of its COVID-19 local and travel restrictions since early April this year, banks are benefiting from the rebound in economic recovery of the Asian financial hub.""Overall economic growth in our key markets is expected to remain positive this year but at a slower pace due to the heightened headwinds in the operating environment,"" OCBC's Group Chief Executive Helen Wong, who took charge last year, said in the results statement on Wednesday.Register now for FREE unlimited access to Reuters.comShe said growth in net interest income from rising interest rates is expected to make up for near-term pressure on non-interest income. She said credit costs are expected to be at the low end of its guidance.OCBC's net profit rose to S$1.48 billion ($1.1 billion) in April-June from S$1.16 billion a year earlier and versus the S$1.22 billion average of five analysts' estimates compiled by Refinitiv.Singapore banks are expected to report 10 basis points net interest margin expansion in April-June on a quarter-to-quarter basis, the highest over the last eight quarters, outperforming Asian peers, JPMorgan analysts said last month.OCBC's net interest margin, a key gauge of banks' profitability, increased 13 basis points to 1.71%, the highest level in two years, according to Refinitiv data.The bank said higher trading income and profit from its life insurance business boosted non-interest income in the quarter but net fee income fell 15%, mainly due to lower wealth management, brokerage and investment banking fees.Last week, smaller local lender, United Overseas Bank Ltd (UOBH.SI) posted an 11% rise in quarterly profit, supported by a strong improvement in net interest income. read more ($1 = 1.3829 Singapore dollars)Register now for FREE unlimited access to Reuters.comReporting by Anshuman Daga; Editing by Shri Navaratnam and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","Singapore bank OCBC's Q2 profit jumps 28%, upbeat on outlook."
"Kansas Attorney General Derek Schmidt speaks during a news conference at the Department of Justice in Washington, U.S., February 22, 2018. REUTERS/Sait Serkan GurbuzRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Kansas Attorney General Derek Schmidt, who was endorsed by former President Donald Trump, won the Republican nomination for governor on Tuesday, Edison Research projected, and will challenge Democratic Governor Laura Kelly in a closely watched race in November's general election.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, editing by Ross Colvin and Alistair BellOur Standards: The Thomson Reuters Trust Principles.",Trump-backed Kansas Attorney General Schmidt wins Republican nomination for governor.
"Aug 2 (Reuters) - Polls closed on Tuesday evening in Michigan, Kansas and Missouri, as Donald Trump's effort to play Republican kingmaker faced fresh tests in high-profile races for U.S. Congress, governor and other offices across five states ahead of November's midterm elections.In Arizona and Michigan, candidates who embraced the former president's false claims of voter fraud could win the Republican nominations for governor, even as some in their party worry they could be too extreme to defeat Democrats on Nov. 8. read more Kansas voters were deciding whether to amend the state constitution to allow the Republican-controlled legislature to ban or limit abortion, the first such ballot initiative since the U.S. Supreme Court eliminated the nationwide right to abortion in June.Register now for FREE unlimited access to Reuters.comTwo Republican U.S. representatives who voted to impeach Trump after the Jan. 6, 2021, assault on the Capitol by the then-president's supporters, Peter Meijer of Michigan and Jamie Herrera Beutler of Washington, also faced Trump-endorsed primary challengers.With an economy teetering on the brink of recession and inflation surging, just 38% of Americans approve of President Joe Biden's job performance, according to a Reuters/Ipsos poll completed on Tuesday - still near Biden's record low of 36%, hit in May. One in three voters said the biggest problem facing the United States today is the economy.Biden's unpopularity is weighing on Democrats heading into the November general election, when Republicans are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.Polls in Arizona close at 7 p.m. local time (10 p.m. ET, 0200 GMT) and polls in Washington state, where almost all voting is done by mail, close at 8 p.m. local time (11 p.m. ET, 0300 GMT).TRUMP ENDORSEMENTSAs he flirts publicly with the possibility of running for president again in 2024, Trump has endorsed more than 100 candidates. Most are safe bets - incumbent Republicans in conservative districts - but even in competitive races he has had a winning record.Trump-backed nominees have won Republican primaries for U.S. Senate in Georgia, North Carolina, Ohio and Pennsylvania, though his picks lost nominating contests for Georgia governor and for the U.S. House in South Carolina.""Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image,"" said Alex Conant, a Republican strategist. ""Republicans who run against Trump tend to get trampled.""On Tuesday, Arizona voters were picking between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump's false claims that his 2020 election defeat was the result of fraud and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.The race for secretary of state - the state's top election official - also includes a Trump-endorsed candidate, state Representative Mark Finchem, who was present at Trump's Jan. 6, 2021, speech in Washington that preceded the U.S. Capitol attack. He wrote on Twitter on Thursday, ""Trump won,"" prompting a Democratic candidate, Adrian Fontes, to call him a ""traitor.""Arizona Republicans were picking a challenger to take on Democratic U.S. Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents.Blake Masters, a former tech executive who has backed Trump's false fraud claims, has Trump's endorsement and the backing of tech billionaire Peter Thiel. He is leading in polls against Jim Lamon, a former power company executive, and Attorney General Mark Brnovich, whom Trump blames for not reversing Biden's 2020 statewide victory.In Missouri, former Governor Eric Greitens, who resigned in the midst of sexual assault and campaign finance fraud scandals, is seeking the Republican nomination for U.S. Senate despite calls from many within his party to withdraw out of concern that he might cost Republicans a safe seat in November.A day before Tuesday's election, Trump recommended voters choose either Greitens or one of his rivals, state Attorney General Eric Schmitt, with a statement that simply endorsed ""Eric."" read more In Michigan, a chaotic Republican campaign for governor was drawing to a close, with several candidates vying for the right to take on Democratic Governor Gretchen Whitmer, who became a frequent target for conservatives after her aggressive approach to shutdowns during the COVID-19 pandemic.Trump last week endorsed former Republican commentator Tudor Dixon in the race. But at a rally this weekend in Troy, some Trump-supporting backers of one of Dixon's rivals, businessman Kevin Rinke, said they would not be swayed.One attendee, Steve Moshelli, 57, said he voted for Trump twice but was sticking with Rinke.""Honestly, I think his star is kind of fading,"" Moshelli, a businessman from Royal Oak, Michigan, said of Trump, adding that he thought the hearings by the House of Representatives committee investigating the Jan. 6 riot had chipped away at Trump's power. ""It's his credibility. It's starting to fade.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Editing by Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.",Voters in key U.S. states decide whether to pick Trump-backed candidates.
"The Occidental Petroleum Corp headquarters is pictured in Los Angeles, California September 16, 2013. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.comHOUSTON, Aug 2 (Reuters) - Occidental Petroleum Corp (OXY.N) on Tuesday capped a turnaround with a second-quarter profit that topped Wall Street estimates while slashing debt and launching a share buyback program on the back of strong oil and gas prices.Occidental has shed much of the debt it took on in 2019 to buy rival Anadarko Petroleum before the COVID-19 pandemic cratered oil demand. In the second quarter it paid down $4.8 billion in debt and launched a $3 billion share repurchase program.The Houston-based energy company posted an adjusted profit of $3.2 billion, or $3.16 per share, topping the $3.07 per share estimated by analysts tracked by Refinitiv IBES.Register now for FREE unlimited access to Reuters.comThe company said it spent $1.1 billion to buy back shares through Aug. 1.Occidental's strategy of pumping oil while it develops technology to reduce carbon emissions from fossil fuels gained a vote of confidence after Warren Buffett's Berkshire Hathaway Inc (BRKa.N)began snapping up Occidental shares in recent months.Berkshire now has a 19.5% stake in Occidental, just below the threshold at which it could choose to book some of the oil company's earnings as its own. read more Occidental's share price has more than doubled this year, hitting $65.06 on Tuesday, as the company benefits from rising oil and gas prices following Russia's invasion of Ukraine.Oil prices were up 17% from the first quarter, boosting Occidental's upstream earnings more than five times over the year ago, to nearly $4.1 billion.Occidental's chemicals business posted an $800 million operating profit. Its pipeline and marketing unit posted a $264 million profit, compared with a $30 million loss a year ago.""The company has shifted from debt reduction to shareholder returns,"" said Peter McNally, an analyst at research firm Third Bridge.One of the top producers in the prolific Permian Basin of West Texas and New Mexico, Occidental produced 1.14 million barrels of oil equivalent per day (boed) in the second quarter, within its guidance, but 32,000 boed less than the prior quarter. The company has been facing higher costs in the Permian, the main U.S. unconventional basin.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle in Houston and Ruhi Soni in Bengaluru; Editing by Maju Samuel, Marguerita Choy and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","Occidental tops 2nd-qtr estimates, launches share buybacks."
"Arizona Republican Gubernatorial Candidate Kari Lake speaks during former U.S. President Donald Trump's rally ahead of Arizona primary elections, in Prescott Valley, Arizona, U.S., July 22, 2022. REUTERS/Rebecca Noble/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Arizona, Michigan, Kansas, Missouri and Washington will choose candidates for U.S. Congress, governor and other offices as former President Donald Trump's effort to maintain dominance over the Republican Party is tested anew.Here are the key primary races to watch:ARIZONA GOVERNORThe Republican contenders include former news anchor Kari Lake, who is endorsed by Trump and has echoed his false claims that the 2020 election was fraudulent. Her main rival is developer Karrin Taylor Robson, who is backed by several establishment Republicans including Trump's former vice president, Mike Pence, and Arizona Governor Doug Ducey.Register now for FREE unlimited access to Reuters.comOn the Democratic side, the leading candidate is Arizona Secretary of State Katie Hobbs who has built a national profile by vociferously denying Trump's allegations. She is facing Marco Lopez, a former Obama administration official and former mayor of Nogales, a border city.ARIZONA U.S. SENATEA bitter fight to decide who will challenge incumbent Democratic Senator Mark Kelly in November has come down to three Republican candidates. Blake Masters, chief operating officer of Thiel Capital and president of the Thiel Foundation, has the financial backing of tech billionaire Peter Thiel and Trump's endorsement. Recent polling shows him leading state attorney general Mark Brnovich and Jim Lamon, a former power company executive.ARIZONA SECRETARY OF STATEOn the Republican side, the front-runner is Trump-endorsed state Representative Mark Finchem, who was present at the Jan. 6, 2021, rally that preceded the attack on the U.S. Capitol and has embraced Trump's stolen election claims. He faces several opponents. The Democratic contest pits former Maricopa County Recorder Adrian Fontes against state House of Representatives Minority Leader Reginald Bolding.KANSAS GOVERNORKansas Attorney General Derek Schmidt, who has Trump's endorsement, is expected to defeat an underfunded opponent in the Republican contest. The winner will challenge incumbent Democratic Governor Laura Kelly, who is among the most vulnerable Democratic governors in November.KANSAS ABORTION VOTEVoters in Kansas will decide whether the state constitution should go on protecting abortion rights in the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.The ballot question asks whether voters want to amend the state constitution to assert there is no right to abortion. The amendment's passage, which requires a simple majority, would reverse a 2019 state Supreme Court ruling that established a right to abortion in Kansas.MICHIGAN GOVERNORA field of Republicans is vying to take on Democratic Governor Gretchen Whitmer, whose aggressive approach to closing down businesses during the coronavirus pandemic has made her a top target for conservatives.The chaotic Republican primary saw several candidates disqualified after a scandal involving falsified signatures on petitions to get on the ballot. In June, the FBI arrested candidate Ryan Kelley, a real estate broker, on misdemeanor charges stemming from the U.S. Capitol attack, though he has continued to campaign. Other Republican candidates include Tudor Dixon, a conservative commentator who has echoed Trump's false election fraud allegations, and Kevin Rinke, a businessman. Trump has not endorsed anyone.MICHIGAN'S 3RD CONGRESSIONAL DISTRICTIncumbent Representative Peter Meijer, one of the 10 Republicans to vote for Trump's second impeachment, is facing a primary challenge from John Gibbs, a former Trump administration official who has the former president's endorsement. Meijer is a moderate Republican in a district that Democrats see as a potential pickup. The campaign arm for House Democrats angered some supporters by running ads to promote Gibbs, who is seen as an easier target in November.MISSOURI U.S. SENATEIn the Republican contest, Eric Greitens, the former Missouri governor who resigned in disgrace after sexual assault and campaign finance fraud scandals, has slipped in the polls after a barrage of attack ads and calls from within his own party for him to withdraw over fears that his nomination could cost the party a safe seat.State Attorney General Eric Schmitt and U.S. Representative Vicky Hartzler are the other top contenders. One day before the vote, Trump in a statement said he supported ""Eric,"" refusing to say whether he was endorsing Greitens or Schmitt.WASHINGTON STATE'S 3RD CONGRESSIONAL DISTRICTRepresentative Jaime Herrera Beutler, one of 10 Republicans to vote for Trump's impeachment in 2021, is facing a primary challenge from Joe Kent, a former Green Beret officer who has been endorsed by Trump. Herrera Beutler has held the seat since 2010.Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax, Moira Warburton, Gabriella Borter and Richard Cowan, Editing by Ross Colvin, Alistair Bell and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.","Factbox: Key races in Arizona, Michigan, Kansas, Missouri and Washington primary elections."
"Politics Updated on: August 2, 2022 / 8:21 PM / CBS News The Senate on Tuesday night overwhelmingly approved the PACT Act, a bill to expand health care benefits for veterans who developed illnesses due to their exposure to burn pits during military service. The 86-to-11 vote was received with cheers from the Senate gallery. The bill now heads to President Biden's desk, and the White House says he looks forward to signing it. The vote came after Senate Majority Leader Chuck Schumer announced Tuesday afternoon that he and Minority Leader Mitch McConnell had come to an agreement. ""This is a wonderful moment, especially for all the people who have made this happen who are observing it,"" Schumer said after the vote. ""Thank you, thank you, thank you, thank you."" Watching the final vote from the Senate gallery Tuesday night, comedian Jon Stewart, a vocal advocate for the bill and veterans, could be seen with tears in his eyes. Stewart has been on Capitol Hill rallying support for the bill and pressuring senators to pass it.""I'm not sure I've ever seen a situation where people who have already given so much had to fight so hard to get so little,"" he said after the vote. ""I hope we learn a lesson."" Democratic Sen. Richard Blumenthal had a message for the Department of Veterans Affairs Tuesday night: ""I have a message to the VA: You better get it right. You better deliver. These veterans have waited already too long.""Mr. Biden said after the vote that he looks forward to signing the bill ""so that veterans and their families and caregivers impacted by toxic exposures finally get the benefits and comprehensive health care they earned and deserve."" Veterans, military family members and advocates rally outside the Capitol in Washington, Tuesday, Aug. 2, 2022, in support of a bill that enhances health care and disability benefits for millions of veterans exposed to the toxic burn pits. Mariam Zuhaib / AP The legislation will expand benefits for an estimated 3.5 million veterans exposed to toxic burn pits during the U.S. wars in Afghanistan and Iraq. The bill will remove the burden of proof from veterans seeking care for conditions related to exposure from burn pits by presuming a number of conditions, including several cancers, are related to the exposure. Burn pits are holes in the ground the U.S. military dug near bases in countries that had limited infrastructure where troops would dump trash and burn it to dispose of it.  The bill initially passed the House and Senate in June, but due to a snag in the language, it had to go back to the House and Senate before it could be sent to President Biden's desk. The legislation again passed the House but failed to advance beyond a procedural vote in the Senate last week. Twenty-five Republican senators who had voted for the bill in June voted against advancing the bill last week, citing an objection to how the legislation is paid for. Republican Sen. Pat Toomey of Pennsylvania has objected since June to a provision in the legislation language that would move $400 billion in preexisting discretionary veterans spending to make it mandatory spending. A measure that is paid for with mandatory spending generally does not have to be approved each year, as discretionary spending does. Toomey argues that this changed designation frees up funds that could be used on items unrelated to veterans. Mr. Biden has blamed burn pits for the health problems of his late son, Beau Biden, who died of a brain tumor in 2015. In a 2019 speech to the Service Employees International Union, then-candidate Biden said because of his son's ""exposure to burn pits, in my view, I can't prove it yet, he came back with stage four glioblastoma.""— Melissa Quinn contributed to this report. Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Senate passes burn pit legislation to expand veteran health care.
"St. Louis Fed President James Bullard speaks about the U.S. economy during an interview in New York February 26, 2015. REUTERS/Lucas JacksonRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The U.S. Federal Reserve and the European Central Bank may both be able to execute a ""relatively soft landing"" that avoids a harsh recession for their respective economies as they raise interest rates to rein in inflation, St. Louis Federal Reserve President James Bulllard said on Tuesday.That's because both central banks, despite battling the stiffest inflation rates in decades, began their current efforts with considerably more credibility than their counterparts in the 1970s and '80s, Bullard said in remarks prepared for delivery to a gathering of the Money Marketeers of New York University. Their predecessors from roughly half a century ago lacked such credibility before kicking off their own inflation-fighting efforts.In the Fed's case, that resulted in severe back-to-back recessions in the early 1980s when Fed Chair Paul Volcker had to raise rates to punishing levels to earn credibility and to lower inflation.Register now for FREE unlimited access to Reuters.com""Since modern central banks have more credibility than their counterparts in the 1970s, it appears that both the Fed and the ECB may be able to disinflate in an orderly manner and achieve a relatively soft landing,"" Bullard said in slides prepared for the presentation.Bullard's largely academic remarks on Tuesday followed those of a trio of his colleagues, who earlier in the day delivered a uniformly hawkish message that rattled bond and interest rate futures markets that had come out of last week's Fed meeting positioned for the U.S. central bank to dial back the pace of rate hikes. read more In separate appearances, Mary Daly, Charles Evans and Loretta Mester, presidents of the San Francisco, Chicago and Cleveland regional Fed banks, respectively, said they were ""completely united"" on getting U.S. interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation rate since the 1980s. read more Last month the Fed raised its benchmark target rate by 75 basis points for a second straight meeting, and Chair Jerome Powell said another ""unusually large"" increase might be appropriate at the Fed's September policy meeting if data between now and then warrants it. The Fed's rate now stands in a range of 2.25-2.50%. read more Ahead of July's meeting, Bullard - among the most hawkish Fed policymakers - had said he wanted to see the Fed's target rate in the range of 3.75% to 4.00% by year-end, up from his previous target of 3.50%.As of June, the median expectation among Fed officials for rates at year-end was 3.40%, a figure which also will be updated at the Sept. 20-21 meeting.Last month, the ECB lifted its benchmark deposit rate for the first time since 2011 and signaled additional rate hikes ahead. read more Register now for FREE unlimited access to Reuters.comReporting by Dan Burns; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","Fed's Bullard: 'Relatively soft landing' feasible for Fed, ECB."
"Embattled lending platform Celsius wants to bring back ex-CFO Rod Bolger and pay him about $92,000 a month, prorated over a period of at least six weeks. The embattled lender says it needs Bolger to help it navigate bankruptcy proceedings as an advisor, according to a motion filed with the Southern District of New York.""Because of Mr. Bolger's familiarity with the Debtors' business, the Debtors have requested, and Mr. Bolger has agreed pending the Court's approval, to continue providing advisory and consulting services to the Debtors pursuant to an Advisory Agreement,"" the filing reads. ""In consideration for the advisory services rendered by Mr. Bolger, the Debtors agree to pay Mr. Bolger the sum of CAD $120,000 per month, prorated for partial months.""The motion goes on to say that during Bolger's tenure, he led efforts to steady the business during turbulent market volatility this year, guiding the financial aspects of the business and acting as a leader of the company. Ultimately, it is up to New York's Southern District to decide whether to allow Bolger to come. onboard with Celsius. There is a Zoom hearing set for Monday, Aug. 8 to consider the motion.Bolger, a former CFO for Royal Bank of Canada and divisions of Bank of America, was previously with the company for five months before resigning on June 30, about three weeks after the platform paused all withdrawals, citing ""extreme market conditions."" While he worked full-time with the company as CFO, this motion shows that he had a base salary of $750,000 and a performance-based cash bonus of up to 75% of his base, in addition to stock and token options, bringing the top of total income range to around $1.3 million range.The company subsequently installed Chris Ferraro, then the head of financial planning, analysis, and investor relations for Celsius, to the post of CFO. Within days of his appointment, the company filed for bankruptcy.Once a titan of the crypto lending world, Celsius is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users.At its peak in October 2021, CEO Alex Mashinsky said the crypto lender had $25 billion in assets under management. Now, Celsius is down to $167 million ""in cash on hand,"" which it says will provide ""ample liquidity"" to support operations during the restructuring process. Celsius owes its users around $4.7 billion, according to its bankruptcy filing.That filing also shows that Celsius has more than 100,000 creditors, some of whom lent the platform cash without any collateral to back up the arrangement. The list of its top 50 unsecured creditors includes Sam Bankman-Fried's trading firm Alameda Research, as well as an investment firm based in the Cayman Islands.Retail investors have filed pleas to the judge to help them recover some of their lost holdings, with some saying that their life savings have effectively been wiped out.A CPA and Celsius investor with over $1,000,000 trapped on the Celsius platform filed an objection on Tuesday to challenge the motion by Celsius to reinstate its former CFO.","Bankrupt crypto lending platform Celsius is trying to hire its CFO back at $92,000 a month, filings say."
"Signs of AMD are seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. REUTERS/Aly Song GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Advanced Micro Devices Inc (AMD.O) on Tuesday forecast third-quarter revenue slightly below Wall Street estimates, a signal of uncertainty that concerned some investors after the company stock made huge gains in July.AMD continued to show strong growth in the data center business, at the expense of its rival Intel, but the company cut its market forecast for personal computer sales and shares fell more than 5% after hours.""After the surprisingly challenging quarter that Intel had, a lot of eyes were closely watching to see what AMD did and, overall, the numbers were solid,"" said Bob O'Donnell, chief analyst at TECHnalysis Research. ""The issue is the market was looking for a better forecast, but it’s clear that the company sees a challenging market going forward.”Register now for FREE unlimited access to Reuters.comRunaway inflation and the reopening of offices and schools have led people to spend less on personal computers (PCs) than they did during lockdowns, hurting companies like AMD, which is among the largest suppliers of central processing units and graphics processing units chipsets.Chipmakers also are under pressure from a spate of COVID curbs in China, an important PC market, and the Ukraine war, which have worsened supply-chain snarls and dragged demand further. Global shipments of PCs are expected to drop 9.5% this year, according to IT research firm Gartner. read more Those pressures led to lower-than-expected earnings and forecasts from Intel Corp (INTC.O) last week. Analysts had worried that Intel's sales from Datacenter and AI Group (DCAI) falling 16% last quarter could also spell out a slowdown in the cloud business which has been booming. read more But AMD Chief Executive Officer Lisa Su told analysts on earnings calls that in her interactions with customers, the cloud business continued to be strong. ""We're continuing to ramp new cloud instances ... we see that continuing into the second half of the year.""Su said AMD continued to gain market share in the data center business.YipitData research director Nathaniel Harmon said AMD has been gaining market share in the data center and cloud market at Intel’s expense, while Intel has been losing 1-2 percentage points of share each quarter since the first quarter of 2019.Still, AMD is coping with a slowing PC market. Su told analysts that AMD revised its outlook on the PC market for this year to drop by the mid-teens percent from previous projections of a high single digit percent drop. Su said AMD was focusing on the higher end PC market.The company expects revenue of $6.7 billion, plus or minus $200 million, for the current quarter compared to analysts' estimate of $6.82 billion, according to IBES data from Refinitiv.AMD expanded its full-year forecast to a range of $26 billion to $26.6 billion, compared to about $26.3 billion earlier. Analysts had forecast $26.18 billion.Second-quarter revenue jumped 70% to $6.55 billion, inching past analysts' estimate of $6.53 billion.Adjusted earnings for the second quarter were $1.05 per share, topping analysts' estimates by 2 cents.Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel, Bill Berkrot and Chris ReeseOur Standards: The Thomson Reuters Trust Principles.","AMD posts Q3 sales outlook below Wall St, data center growth remains strong."
"People ride on motorbikes on a street in Sanaa, Yemen August 1, 2022. REUTERS/Khaled AbdullahRegister now for FREE unlimited access to Reuters.comADEN, Aug 2 (Reuters) - Yemen's warring sides agreed to renew a two-month truce expiring on Tuesday, the United Nations envoy said, despite international pressure for an extended and expanded deal that would build on the longest stretch of relative calm in over seven years.""This truce extension includes a commitment from the parties to intensify negotiations to reach an expanded truce agreement as soon as possible,"" special envoy for Yemen Hans Grundberg said in a statement.Grundberg had been pushing for a six-month truce with additional measures, sources had told Reuters, but both sides have had grievances about implementation of the existing truce deal and mistrust runs deep. read more Register now for FREE unlimited access to Reuters.comU.S. and Omani officials had also been engaging with parties to back Grundberg's proposal following a visit by President Joe Biden to Saudi Arabia last month, where he announced following bilateral talks an agreement to ""deepen and extend"" the truce.Biden welcomed the renewal of the truce, but said in a statement that while it was an important step and essential to saving lives it ""is not enough in the long run.""""We urge the Yemeni parties to seize this opportunity to work constructively under U.N. auspices to reach an inclusive, comprehensive agreement that includes steps to improve freedom of movement and expanded salary payments and that paves the way for a durable, Yemeni-led resolution to the conflict,"" he said.Joe Buccino, spokesman for U.S. Central Command, which oversees U.S. military forces in the Middle East, welcomed the extension and said it would provide continued relief for millions of Yemenis.The conflict pitting a coalition led by Saudi Arabia against the Iran-aligned Houthis, de facto authorities in north Yemen, has killed tens of thousands and caused millions to go hungry.Riyadh has been trying to exit a costly war that has been a point of tension with the Biden administration, which halted support for offensive coalition operations. The conflict is widely seen as a proxy war between Saudi Arabia and Iran. read more The warring sides have both been frustrated over truce implementation. The Saudi-backed government blamed the Houthis for not reopening main roads in disputed Taiz, while the group accused the coalition of not delivering the agreed number of fuel ships into Hodeidah and flights from the capital Sanaa, both held by the group.Grundberg said he would intensify engagement with the parties in coming weeks to ensure full implementation.An expanded truce, he said, would offer a mechanism to pay public sector salaries, the opening of roads, expanded flights from Sanaa and regular flow of fuel to Hodeidah. The U.N. is also pushing for a permanent ceasefire to enable the resumption of talks for a sustainable political resolution.Sanaa resident Sufian al-Thawr said that without further measures to address economic woes and secure broader negotiations the truce would be ""merely a warrior's break"" and that hostilities would return.Since 2015, when the coalition intervened against the Houthis, Yemen's economy and basic services have collapsed, leaving 80% of the population of around 30 million needing help.Soaring food prices risk tipping more people into hunger as funding shortages have forced the U.N. to cut food rations. read more ""We want a truce that improves our standard of living,"" said school teacher Elham Abdullah who lives in Aden, where the internationally recognized government is based after being ousted from Sanaa by the Houthis in late 2014.University student Tah Abdul-Kareem said more was needed but ""still, it is better than a return to war.""Register now for FREE unlimited access to Reuters.comReporting by Ghaida Ghantous in Dubai, Mohammed Alghobari and Reyam Mokhashef in Aden, Abdulrhman Al Ansi in Sanaa and Idrees Ali in Washington; Editing by Grant McCool and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","Yemen's warring parties agree only to renew two-month truce, U.N. says."
"get the free app Updated on: August 2, 2022 / 6:54 PM / CBS News CBS News Live CBS News Live Live Voters in five states are going to the polls on Tuesday in some of the states that were battlegrounds in 2020 — and will be again in 2024. And abortion faces its first test at the ballot box since the Supreme Court struck down Roe v. Wade, as Kansas voters decide whether abortion should be constitutionally protected.ArizonaIn Arizona, former President Donald Trump has rallied for his allies in the Senate, governor and secretary of state races. Arizona was one of the key battleground states that went for President Joe Biden in 2020. After the election, some Republicans in the state tried to overturn the results, with a plan to send a slate of phony alternate electors who supported Trump to Congress for the Electoral College certification, rather than the electors won by President Biden. In the Republican primary to take on Democratic Sen. Mark Kelly in November, Trump has backed Blake Masters, who has a comfortable lead according to two polls ahead of the primary. For governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest for the GOP nomination that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Republican Gov. Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  A where to vote sign points voters in the direction of the polling station as the sun beats down as Arizona voters go the polls to cast their ballots, Tuesday, Aug. 2, 2022, in Phoenix. Ross D. Franklin / AP Trump has also backed a challenger to state House Speaker Rusty Bowers, who testified in June at a House Jan. 6 committee public hearing. Bowers is term-limited out of that position but is running for state Senate. Days before the primary, the Arizona GOP voted to formally censure him for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusal to support Trump-backed attempts to overturn the 2020 election. This year, Bowers helped block a bill, introduced by Secretary of State candidate and current state Rep. Shawnna Bolick, to empower the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.MissouriTrump issued a last-minute semi-endorsement in the Republican primary for the open Senate seat in Missouri. On Monday night, he threw his support behind ""ERIC."" There are two leading candidates in the race named Eric, Eric Schmitt and Eric Greitens. Both claimed they have Trump's endorsement. In Missouri's 1st Congressional District, incumbent Rep. Cori Bush, who unseated a longtime incumbent in 2020, is facing several challengers. The St. Louis Post-Dispatch endorsed both Bush and opponent Steve Roberts, writing that ""too many deeply personal issues are likely to dominate voters' decisions in ways that wouldn't necessarily be swayed by an editorial endorsement.""Meanwhile, three of the 10 House Republicans who voted to impeach Trump are facing Trump-backed primary challengers. Trump posted Tuesday on Truth Social to urge Republican voters to ""knock out impeachment slime."" MichiganIn Michigan, Rep. Peter Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.WashingtonAnd in Washington, the top two vote-getters will advance to the general election regardless of party affiliation. Republican Rep. Jaime Herrera Beutler in the 3rd District and Dan Newhouse in the 4th District both face the risk of being shut out because of Trump-backed challengers. KansasFor the first time since the Supreme Court struck down Roe v. Wade, a state will vote whether abortion can be constitutionally protected. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right.Kansas voters are deciding whether to pass that amendment, which will remove that constitutional right, or against it, which would keep it in place.    6:54 PM / August 2, 2022 How to watch CBS News' election special What: CBS News' election special Date: Tuesday, August 2Time: 9 p.m. ETOnline stream: Live on CBS News in the player above and on your mobile or streaming device.   6:15 PM / August 2, 2022 U.S. Senate Arizona Republican primary Justin Olson, Mick McGuire, Mark Brnovich, Jim Lamon and Blake Masters are on the ballot.   6:13 PM / August 2, 2022 Arizona governor Republican primary Matt Salmon, Scott Neeley, Paola Tulliani-Zen, Karrin Taylor Robson and Kari Lake are on the ballot.    6:24 PM / August 2, 2022 Arizona state Senate Republican primary Rusty Bowers and David Farnsworth are on the ballot.   6:13 PM / August 2, 2022 Arizona Secretary of State Republican primary Shawnna Bollock, Michelle Ugenti-Rita, Beau Lane and Mark Finchem are on the ballot.   6:12 PM / August 2, 2022 Arizona Secretary of State Democratic primary Adrian Fontes and Reginald Bolding are on the ballot.    6:12 PM / August 2, 2022 Arizona 2nd Congressional District Republican primary Ron Watkins, Steven Krystofiak, Andy Yates, John Moore, Mark DeLuzio, Eli Crane and Walt Blackman are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Republican primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:11 PM / August 2, 2022 U.S. Senate Missouri Democratic primary Dave Sims, Kevin Schepers, Deshon Porter, Robert Olson, Eric McElroy, Darrett McClanahan, Patrick Lewis, Rickey Joiner, Dennis Lee Chilton, Russel Breyfogle, Robert Allen, C.W. Gardner, Mark McCloskey, Dave Schatz, Billy Long, Vicky Hatzler, Eric Greitens and Eric Schmitt are on the ballot.    6:09 PM / August 2, 2022 Missouri 1st Congressional District Democratic primary Cori Bush, Michael Daniels, Earl Childress, Ron Harshaw and Steve Roberts on the ballot.   6:08 PM / August 2, 2022 Kansas constitutional amendment Yes/No   6:08 PM / August 2, 2022 Kansas Republican governor Arlyn Briggs and Derek Schmidt are on the ballot.    6:07 PM / August 2, 2022 Michigan Republican governor primary Ralph Rebandt, Ryan Kelley, Garrett Soldano, Kevin Rinke and Tudor Dixon are on the ballot.    6:06 PM / August 2, 2022 Michigan 3rd Congressional District Republican primary Peter Meijer and John Gibbs are on the ballot.    6:06 PM / August 2, 2022 Michigan 11th Congressional District Democratic primary Andy Levin and Haley Stevens are on the ballot.    6:04 PM / August 2, 2022 Washington 3rd Congressional District (top 2 vote-getters) Jaime Herrera Beutler, Davy Ray, Leslie French, Vicki Kraft, Heidi St. John, Marie Gluesenkamp Perez, Joe Kent, Chris Byrd, Oliver Black are on the ballot.    6:03 PM / August 2, 2022 Washington 4th Congressional District (top 2 vote-getters) Dan Newhouse, Jacek Kobiesa, Benancio Garcia, Corey Gibson, Jerrold Sessler, Brad Klippert, Doug White and Loren Culp are on the ballot.","Watch Live: 2022 midterm primary results in Arizona, Missouri, Kansas, Michigan and Washington."
"GXO Logistics customers are still doing well even as Wall Street fears that the economy is headed for a downturn, CEO Malcolm Wilson told CNBC's Jim Cramer on Tuesday.""We just finished our quarter … nearly half a billion dollars of new customer contracts signed, and our business growing at 20% organic revenue. That's a real statement of the economy. I think we're doing well,"" Wilson said in an interview on ""Mad Money.""The supply chain management firm beat Wall Street expectations in its latest quarter reported after the closing bell on Tuesday. GXO saw adjusted earnings of 68 cents compared to an estimated 62 cents. Revenue came in at $2.16 billion dollars compared to an expected $2.11 billion.Wilson said that GXO's customers – who operate in industries such as automotive, e-commerce, technology and healthcare – aren't letting concerns about an economic slowdown halt their plans for the future.""What we're seeing is our customers, big blue-chip international organizations, they're wanting to continue to invest for the future,"" he said, noting that the company has installed 90 new warehouses in the last 12 months.""To me, that gives me a sense that they're optimistic for the future, and we're optimistic with them,"" he added.Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the ""Mad Money"" website? madcap@cnbc.com","GXO Logistics customers are doing well despite economic slowdown buzz, CEO says."
"U.S. Senate Majority Leader Chuck Schumer (D-NY) celebrates with activists after a breakthrough with Republicans to allow a vote on a bill to expand healthcare to veterans exposed to toxic burn pits while serving abroad, at the U.S. Capitol in Washington, U.S. August 2, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - A bill expanding healthcare coverage for veterans sickened by gases from military toxic burn pits passed the U.S. Senate on Tuesday night after unexpectedly getting held up by opposition from Republicans last week.The U.S. military used burn pits to dispose of waste on foreign bases until the mid-2010s. Fumes from burning everything from rubber, chemical waste, ammunitions and human feces have caused rare cancers and respiratory illnesses in veterans. read more The bill initially passed the 100-member Senate with the support of 34 Republicans and all 50 Democrats, but got held up by a technical error the House swiftly corrected.Register now for FREE unlimited access to Reuters.comThe Senate's final approval last week was expected to be a routine vote, but after Democrats announced a deal within their caucus on an unrelated climate and tax bill that would not require bipartisan support, a group of Republican senators abruptly changed their positions and voted against the corrected bill.Many saw the Republican senators' move, which took place just hours after the Democrats' announcement, as retribution for continuing negotiations on the climate and tax bill that most in Congress thought were dead.On Tuesday, Democratic Senator Chuck Schumer said he had reached a deal with Republican Senator Pat Toomey to hold a vote on an amendment that would change how money was allocated within the burn pits bill, clearing the way for a final vote on passage on Tuesday evening.Toomey's amendment was defeated before the Senate approved the legislation by a vote of 86-11.Veterans who have pushed for the bill have camped on the Capitol steps since Thursday evening when the bill last came to the floor. U.S. President Joe Biden called the veterans on Saturday and said he stood in solidarity with them, according to Rosie Torres, a veterans' advocate.Torres believes the Republican senators who changed their vote treated veterans like ""political pawns.""""It shouldn't be about politics,"" Torres said. ""People are dying.""Veterans and their advocates - including comedian Jon Stewart, an outspoken supporter of the bill - packed the galleries of the Senate chamber to watch the final vote on Tuesday night.Biden said in a statement he looks forward to signing the bill into law ""so that veterans and their families and caregivers impacted by toxic exposures finally get the benefits and comprehensive health care they earned and deserve.""Register now for FREE unlimited access to Reuters.comReporting by Moira Warburton, Rose Horowitch and Katharine Jackson; Editing by Chris Reese and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.","After unexpected hurdles, military toxic burn pits bill passes U.S. Senate."
"James BullardOlivia Michael | CNBCSt. Louis Federal Reserve President James Bullard said Tuesday that he still thinks the economy can avoid a recession, even though he expects the central bank will need to keep hiking rates to control inflation.""I think that inflation has come in hotter than what I would have expected during the second quarter,"" the central bank official said during a speech in New York. ""Now that that has happened, I think we're going to have to go a little bit higher than what I said before.""The fed funds rate, which is the central bank's benchmark, likely will have to go to 3.75%-4% by the end of 2022, Bullard estimated. It currently sits at 2.25%-2.5% following four rate hikes this year. The rate sets the level banks charge each other for overnight lending but feeds through to many adjustable-rate consumer debt instruments.Nevertheless, Bullard said the Fed's credibility in its dedication to fight inflation will help it avoid tanking the economy.Bullard compared the Fed's current situation to the problems central banks faced in the 1970s and early '80s. Inflation is now running at the highest points since 1981.He expressed confidence that the Fed today will not have to drag the economy into a recession the way then-Chairman Paul Volcker did in the early 1980s.""Modern central banks have more credibility than their counterparts in the 1970s,"" Bullard said during a speech in New York. ""Because of this … the Fed and the [European Central Bank] may be able to disinflate in an orderly manner and achieve a relatively soft landing.""Markets lately have been making the opposite bet, namely that a hawkish Fed will hike rates so much that an economy that already has endured consecutive quarters of negative GDP growth will fall into a recession. Government bond yields have been heading lower, and the spread between those yields has been compressing, generally a sign that investors are taking a dim view of future growth.In fact, futures pricing indicates that the Fed will have to follow its rate increases this year with cuts as soon as the summer of 2023.But Bullard argued that the ability for the Fed to steer the economy toward a soft landing rests largely on its credibility, specifically whether the financial markets and the public believe the Fed has the will to stop inflation. He differentiated that from the 1970s era when the Fed enacted rate hikes when faced with inflation but quickly backed off.""That credibility didn't exist in the earlier era,"" he said. ""We have a lot more credibility than we used to have.""Bullard will appear Wednesday on CNBC's ""Squawk Box"" starting at 7:30 a.m. ET.",Fed's James Bullard expresses confidence that the economy can achieve a 'soft landing'.
"Elon Musk's Twitter profile is seen on a smartphone placed on printed Twitter logos in this picture illustration taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comWILMINGTON, Del., Aug 2 (Reuters) - Twitter Inc (TWTR.N) is attempting to find evidence that Elon Musk tried to torpedo the financing of his $44 billion takeover deal for the social media company while also looking into his motivation for backing out of the deal, legal experts said.Twitter sent dozens of civil subpoenas this week to global banks such as units of Morgan Stanley (MS.N), co-investors in the deal including an affiliate of Brookfield Asset Management Inc (BAMa.TO), and Musk advisers, according to filings over the past two days in the Delaware Court of Chancery.Morgan Stanley declined to comment. Brookfield did not immediately respond to a request for comment. Representatives for Musk and Twitter could not be reached.Register now for FREE unlimited access to Reuters.comThe subpoenas seek documents and communications concerning the deal, its financing, any information on ""bot,"" or fake, Twitter accounts. They also seek information that the recipients may have about potential impact on the deal from changes in the stock price of electric car maker Tesla Inc (TSLA.O), of which Musk is chief executive.The subpoenas are part of Twitter's lawsuit against Musk seeking to hold him to the deal at the $54.20 per share price he had agreed to. A five-day trial is scheduled to begin Oct. 17 in the Delaware Chancery Court.Experts said the subpoenas indicate Twitter wants to know what lenders, investors and advisers were saying to each other about Musk's behavior after he signed the deal in late April.""They suspect that behind the scenes he's been conspiring to blow the whole thing up,"" said Minor Myers, a professor at UConn School of Law.Musk said on July 8 he was backing out of the deal because Twitter allegedly breached the agreement by withholding data about fake accounts on the platform. Twitter has said the fake accounts are a distraction from the only issue that matters, which is the terms of the agreement. Musk had also said he was walking away because Twitter fired high-ranking executives and one-third of the talent acquisition team, breaching Twitter's obligation to ""preserve substantially intact the material components of its current business organization."" read more Musk cannot be ordered to close the deal if financing fails -- provided he's not the cause of the failed funding, according to legal experts.Twitter's subpoenas focused on what they said was the firing of Bob Swan, an operating partner at venture capital firm Andreessen Horowitz, who initially led Musk's efforts to finalize deal finance. He was replaced by Antonio Gracias, a long-time Musk associate, according to Twitter's lawsuit.Brian Quinn, a professor at Boston College Law School, said Twitter seems to want to know if ""Gracias had any role in getting financing done or if he was just supposed to slow things down.""Swan did not immediately respond to messages sent via LinkedIn and to Andreeesen Horowitz. Gracias did not respond to a request for comment sent to his Valor Equity Partners firm.Experts said Twitter will be interested in understanding lenders' concerns about the number of fake accounts on the platform, and whether it was an issue for them as Musk has suggested.Investors were asked for communications about the Twitter deal with those close to Musk, such as Steve Jurvetson, a former Tesla board member and current director of SpaceX, the private rocket company founded and led by Musk.Jurvetson did not immediately respond to a request for comment sent to his Future Ventures firm.""lol, lawyers w/ TWTR are sending subpoenas to friends in the ecosystem around @elonmusk,"" wrote Joe Lonsdale, a co-founder of Palantir Technologies Inc (PLTR.N), on Twitter. ""I have nothing to do with this aside from a few snarky comments, but got a 'YOU ARE HEREBY COMMANDED' document notice,"" he wrote.He called Twitter's subpoenas a ""giant harassing fishing expedition.""Lonsdale did not immediately respond to a request for comment sent to his 8VC firm.Theodore Kittila, a Delaware corporate litigator, said Twitter is trying to determine what Musk was saying privately while publicly sending tweets that he was concerned about bots and fake accounts on Twitter.""They are trying to climb in there, behind the tweets,"" said Kittila. ""They are looking at emails and trying to divine the conversation that actually occurred and what drove his decision to suspend the deal.""Musk has sent his own subpoenas over the past two days to Concentrix Solutions Corp (CNXC.O), a data analytics firm, and TaskUs USA (TASK.O), which moderates content. Musk's subpoena questions were filed under seal.Register now for FREE unlimited access to Reuters.comReporting by Tom Hals in Wilmington, Delaware; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.Tom HalsThomson ReutersAward-winning reporter covering U.S. courts and law from the COVID-19 pandemic to high-profile criminal trials and Wall Street's biggest failures with more than two decades of experience in international financial news in Asia and Europe.",Twitter queries banks on Musk's attempts to undermine $44 bln deal.
"Entertainment August 2, 2022 / 8:01 PM / CBS News Investigation continues into woman's fatal fall at Empower Field at Mile High 02:24 Country music star Kenny Chesney said he is ""devastated"" after an unidentified female fan fell and died just after the singer's show at Empower Field at Mile High in Denver on Saturday night. ""There had been so much joy, so much heart coming from the people of Denver last night — and to hear this is heartbreaking,"" Chesney, 54, said in a statement to The Denver Post on Sunday. ""Life is precious. Sharing music brings us together and that love we share makes us so much more. For the lady who came to share that love, there are no words. For her friends and family's loss, I grieve with them, and for them.""The woman was sitting on an escalator railing when she fell to the concourse below and died as a result of her injuries, Denver police tweeted Sunday. They said the death was being investigated as accidental.Empower Field also released a statement about the incident on Twitter. ""We extend our deepest sympathies to the loved ones of the woman involved in the tragic incident that occurred at the end of Saturday's concert at Empower Field at Mile High,"" the statement said. 
It's the third death investigation at the stadium in the past eight years, according to CBS Colorado.  In 2015, a man fell from one level of the stadium to the one below while chasing a hat that had blown off in the wind, CBS Colorado reports. Police said they believed intoxication was a factor in the fatal incident.Then, a year later, father of five who was attending a Denver Broncos game fell down several stories of a stairwell. A lawsuit claimed the stairwell was not up to code. The suit was settled out of court, according to CBS Colorado. Chesney is on his annual summer concert tour, which this year ends on Aug. 27 with a show at Gillette Stadium in Foxboro, Massachusetts, according to his website. In: Colorado Denver Jaz Garner Jaz Garner is a producer, culture writer and journalist for CBS News. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","""Devastated"" Kenny Chesney offers condolences to the family of a woman who died at his Denver show."
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesSpeaker Nancy Pelosi visits TaipeiCaterpillar falls after missing sales estimatesUber surges after reporting positive cash flowIndexes end: S&P 500 -0.66%, Nasdaq -0.16%, Dow -1.23%Aug 2 (Reuters) - Wall Street ended lower after a choppy session on Tuesday, with geopolitical tensions flaring after U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan.Pelosi said her trip demonstrated American solidarity with the Chinese-claimed self-ruled island, but China condemned that first such visit in 25 years as a threat to peace and stability. read more Heavy hitters Microsoft (MSFT.O) and Visa (V.N)lost 1.1% and 2.4% respectively, weighing on the S&P 500. All 11 S&P 500 sector indexes lost ground, led lower by real estate (.SPLRCR), which lost 1.3%. Financials (.SPSY) dipped 1.1%.Register now for FREE unlimited access to Reuters.comShares of chipmakers heavily exposed to China were mixed. Advanced Micro Devices (AMD.O) rallied 2.6% ahead of its quarterly report after the bell.Industrial bellwether Caterpillar (CAT.N) tumbled 5.8% after warning of a bigger drop in demand for its excavators in property crisis-hit China, piling more pain on the industrial bellwether grappling with supply-chain disruptions.Financial markets have been roiled in recent months by the Ukraine war, soaring inflation and tightening financial conditions.U.S. job openings in June fell by the most in just over two years, as demand for workers eased in the retail and wholesale trade industries. Overall the labor market remained tight. read more Since the U.S. Federal Reserve raised interest rates by 75 basis points in July, investors have been speculating about whether the central bank's largest hikes are behind it.""The market has to get really comfortable that they have fully baked in all the Fed's rate hikes, and I think that remains an open question,"" said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. ""The challenges and supply constraints aren't necessarily done. They aren't done and gone yet.""Shares of U.S. defense companies Raytheon Technologies Corp (RTX.N), Lockheed Martin Corp (LMT.N), Northrop Grumman Corp (NOC.N) and L3Harris Technologies Inc (LHX.N) rallied for much of the session, ending with gains between 0.5% and 2.3%. The United States is Taiwan's main supporter and arms supplier. read more Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyThe S&P 500 declined 0.66% to end the session at 4,091.32 points.The Nasdaq declined 0.16% to 12,348.76 points, while Dow Jones Industrial Average declined 1.23% to 32,396.30 points.Volume on U.S. exchanges was relatively heavy, with 11.2 billion shares traded, compared to an average of 10.8 billion shares over the previous 20 sessions.The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, eased from the day's high of 24.68 points.A largely upbeat second-quarter reporting season has supported markets recently, with the benchmark S&P 500 index (.SPX) up about 12% from lows hit in mid-June.Uber Technologies Inc (UBER.N) jumped almost 19% after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit. read more The most traded stock in the S&P 500 was Tesla Inc , with $28.7 billion worth of shares exchanged during the session. Its shares rose 1.1% after Citigroup hiked its price target on the electric car maker.Pinterest Inc (PINS.N) surged over 11% after activist investor Elliott Investment Management became the largest shareholder of the digital pin-board firm. read more Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 3.1-to-one ratio.The S&P 500 posted 2 new highs and 30 new lows; the Nasdaq recorded 40 new highs and 73 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Anil D'Silva, Arun Koyyur and David GregorioOur Standards: The Thomson Reuters Trust Principles.",S&P 500 ends see-saw session lower as Pelosi visits Taiwan.
"Abortion rights protesters participate in nationwide demonstrations following the leaked Supreme Court opinion suggesting the possibility of overturning the Roe v. Wade abortion rights decision, in Atlanta, Georgia, U.S., May 14, 2022. REUTERS/Alyssa PointerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Pregnant women in the U.S. state of Georgia will be able to deduct their fetuses as dependents on their taxes under a 2019 anti-abortion law that a judge allowed to go into effect last month, the state said.The state's tax agency said on Monday that any woman whose fetus has a detectable heartbeat as of July 20, the date of the court ruling, can take a personal tax exemption in the amount of $3,000 for each fetus, if she is carrying more than one.The Georgia Department of Revenue did not provide details, such as what happens if the pregnancy ends in miscarriage during the tax year. The agency said it would issue further guidance later in 2022.Register now for FREE unlimited access to Reuters.comThe law allowing the deduction was part of a so-called fetal heartbeat bill passed three years ago in Georgia, which aimed to ban abortion after fetal cardiac activity is detected, generally at around six weeks gestation.That bill, which also allowed women to collect child support for a fetus, was one of a raft of abortion bans and restrictions that were not allowed to go into effect for years - as long as the United States constitution was interpreted as protecting a right to abortion.After a new conservative super-majority on the U.S. Supreme Court ended those protections by overturning the landmark Roe v Wade decision that legalized abortion nationwide, Georgia's law was allowed to go into effect.Allowing pregnant women to claim their fetuses as dependents is an idea that has been supported by some in the anti-abortion movement for years. Bills to allow that have been introduced at the federal level at least twice.Arizona passed a similar statute, but enforcement of its law granting ""personhood"" to fetuses has been blocked by a court, said Elizabeth Nash, who studies state abortion policy for the pro-abortion rights Guttmacher Institute.Georgia's tax move is the broadest interpretation of fetal personhood to be enacted thus far, she said through a spokesperson.The ACLU of Georgia, which is one of several groups suing to block the law, said that while a tax break is welcome, it is dangerous to grant full personhood to an embryo.“We are all for measures to support pregnant people, through tax credits or otherwise. What’s dangerous and confusing is Georgia’s attempt to treat an embryo from the earliest days of pregnancy as a person with rights equivalent to those of the pregnant person,” said Julia Kaye, an attorney for the ACLU Reproductive Freedom Project.The Georgia Department of Revenue did not immediately respond to a request for comment or clarification from Reuters.Register now for FREE unlimited access to Reuters.comReporting by Sharon Bernstein
Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Georgia anti-abortion law allows tax deductions for fetuses.
"A Starbucks sign is shown on one of the company's stores in Los Angeles, California, U.S. October 19, 2018. REUTERS/Mike Blake GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Starbucks Corp (SBUX.O) beat Wall Street estimates for quarterly profit on Tuesday as higher prices and strong demand for its coffees in the United States helped offset a hit to business in China from renewed COVID-19 lockdowns.Despite record inflation in the United States that ate in to Starbucks' operating margin, the chain is ""not currently seeing any measurable reduction in customer spending or any evidence of customers trading down,"" interim Chief Executive Officer Howard Schultz told investors on a conference call.The Seattle-based chain earned 84 cents per share on an adjusted basis, beating estimates of 75 cents. The company's stock rose nearly 2% in extended trading.Register now for FREE unlimited access to Reuters.comHowever, global comparable sales rose 3% in the fiscal third quarter ended July 3, compared with analysts' average estimate for a 3.76% rise, according to Refinitiv IBES.U.S. sales were boosted by Starbucks' ability to raise prices without pushback from its wealthier customers and its booming sales of cold beverages, which now make up about 75% of total beverage sales in U.S. company-operated cafes.Its U.S. active membership in its rewards program also grew 13% to 27.4 million members.Higher costs for ingredients and enhanced benefits for some U.S. employees affected operating margins, which fell by 400 basis points to 15.9%. Same-store sales grew 9% in North America.As it fends off an organizing drive that has prompted workers at 200 stores to vote to unionize since last year, Schultz said in April that the company would boost benefits and wages - but only for workers in nonunionized stores - starting this week.China was hit by the ""most severe COVID disruption since the pandemic began,"" with comparable sales in the company's fastest-growing market slumping 44% in the quarter, Belinda Wong, chairman of Starbucks China, said during the call.A fresh round of lockdowns in Shanghai and a resurgence of COVID-19 in Beijing and other Chinese cities had forced Starbucks stores to shut seating areas, allowing the company to offer only deliveries or mobile orders for most of the quarter.Total net revenue rose to $8.15 billion from $7.5 billion a year earlier, edging past analysts' average estimate of $8.11 billion.Register now for FREE unlimited access to Reuters.comReporting by Deborah Sophia in Bengaluru and Hilary Russ in New York
Editing by Maju Samuel, Peter Henderson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Starbucks beats profit estimates despite hit to China business.
"The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - PayPal Holdings (PYPL.O) on Tuesday said activist investor Elliott Management has an over $2 billion stake in the fintech company and the firm raised its annual profit guidance.PayPal shares shot up nearly 12% after it also announced a slew of moves including appointing Blake Jorgensen as new chief financial officer and a $15 billion repurchase program.The fintech company has ""an unmatched and industry-leading footprint across its payments businesses,"" said Jesse Cohn, a managing partner at Elliott, a day after the investment firm disclosed a similar stake in Pinterest Inc (PINS.N). read more Register now for FREE unlimited access to Reuters.comPayPal, which was among companies that won big during the pandemic, saw shares wipe out over 70% of their market value in a year as e-commerce growth retreated from pandemic-era records.""Considering the stock's meaningful underperformance over the last nine months, this may be enough to satisfy investors, who have lost some measure of faith in management credibility after so many downward revisions,"" said Jason Benowitz, senior portfolio manager at Roosevelt Investments.PayPal also expects to reduce headcount to cut back costs and said it estimates annual revenue to grow at 11% on an FXN-basis, its lower end of previous guidance of ~11% and 13%.""PayPal let an activist investor inside the tent with an information sharing agreement. We expect the company to materially refresh its top management layer and make tough choices to improve profit margins,"" said Benowitz.The company also announced a slew of moves including appointing Blake Jorgensen as Paypal's new chief financial officer and a new $15 billion repurchase program. Blake, who takes over the role on Wednesday, joins PayPal from Electronic Arts (EA.O).The company reported a lower adjusted profit of 93 cents per share for the three months ended June 30, that comfortably beat estimates of 86 cents a share.It raised its adjusted profit expectations to between $3.87 and $3.97 per share for the year, up from its previous forecast of $3.81 and $3.93.Register now for FREE unlimited access to Reuters.comReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.","PayPal shares jump on Elliott's $2 bln stake, annual profit guidance raise."
"SINGAPORE — Futures in the Asia-Pacific pointed to a mixed open Wednesday after a negative session on Tuesday as geopolitical tensions between the U.S. and China intensified over U.S. House Speaker Nancy Pelosi's visit to Taiwan.The Nikkei futures contract in Chicago was at 27,745 while its counterpart in Osaka was at 27,720. That compared against the Nikkei 225's last close at 27,594.73.In Australia, SPI futures were at 6,896, below the S&P/ASX 200's last close at 6,998.1.Stock picks and investing trends from CNBC Pro:Pelosi arrived in Taiwan on Tuesday night local time amid warnings from Beijing. Taiwan is a democratic self-ruled island that China claims as a runaway province.Foreign Ministry spokesperson Hua Chunying tweeted that Pelosi's visit was a ""major political provocation,"" while a spokesperson for the People's Liberation Army's Eastern Theatre Command said it would conduct ""a series of joint military operations around the Taiwan Island from the evening of August 2.""Those operations include long-range combat fire live shooting in the Taiwan Strait and conventional missile firepower test launching, the statement said, calling them ""stern deterrence"" and a grave warning.Ahead of the trip, stocks in Asia mostly dropped on Tuesday as investors watched for developments. The Shanghai Composite and Shenzhen Component were down more than 3% at session lows.In economic news, China's Caixin Services Purchasing Managers' Index data is due today.CurrenciesThe U.S. dollar index, which tracks the greenback against a basket of its peers, was at 106.241, after a recent climb.The Japanese yen traded at 133.39 per dollar, weaker compared to earlier in the week. The Australian dollar was at $0.691.",Asia-Pacific markets set to open mixed as investors monitor Pelosi's visit to Taiwan.
"Gilead Sciences Inc pharmaceutical company is seen after they announced a Phase 3 Trial of the investigational antiviral drug Remdesivir in patients with severe coronavirus disease (COVID-19), during the outbreak of the coronavirus disease (COVID-19), in Oceanside, California, U.S., April 29, 2020. REUTERS/Mike BlakeRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Gilead Sciences Inc (GILD.O) on Tuesday said its second-quarter adjusted profit fell due to higher research and royalty costs as well as a downturn in sales of its COVID-19 antiviral drug Veklury.Quarterly revenue, however, rose 1% to $6.3 billion, which was ahead of the average Wall Street estimate of $5.85 billion, according to Refinitiv data.The biotech company said adjusted quarterly profit fell 13% to $1.58 per share, which also topped the average analyst estimate of $1.52. Net income fell to 91 cents per share from $1.21 per share.Register now for FREE unlimited access to Reuters.comSales of COVID-19 treatment remdesivir, which is sold under the brand name Veklury, fell 46% to $445 million, but still came in ahead of analysts' estimates of $390 million.""Sales declined as hospitalization rates declined in most geographies,"" Gilead Chief Commercial Officer Johanna Mercier said on a conference call, adding the company remains ready to supply Veklury if needed.Cancer drug Trodelvy - shown in a recent trial to modestly delay tumor growth in women with the most common form of breast cancer - saw sales rise 79% to $159 million. Sales of Gilead's cancer cell therapies rose by a robust 68% to $368 million.HIV drug sales, driven by demand for higher-priced products, rose 7% to $4.2 billion.Gilead announced that the U.S. Food and Drug Administration will decide by Dec. 27 whether to approve its long-acting HIV medication lenacapavir.""We’ve seen somewhat of a recovery in core products from last quarter’s weaker results,"" BMO Capital Markets analyst Evan Seigerman said in a research note. He pointed to particular strength in HIV and cell therapy products.For full-year 2022, California-based Gilead sightly raised its forecast for adjusted earnings per share to between $6.35 to $6.75 from a previous view of $6.20 to $6.70. Gilead said it now expects product sales of $24.5 billion to $25 billion, up from a prior estimate of $23.8 billion to $24.3 billion.Gilead were up 1% at $60.15 in after hours trading.Register now for FREE unlimited access to Reuters.comReporting By Deena Beasley
Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Gilead quarterly profit falls as COVID antiviral sales decrease.
"Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Uber Technologies Inc (UBER.N) reported positive quarterly cash flow for the first time ever on Tuesday and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and ordering in food.The company's stock surged 15% to $28.2 and helped push shares of Lyft Inc (LYFT.O) by 11% and DoorDash (DASH.N) by 4%.Uber generated free cash flow of $382 million in the second quarter, topping analysts' expectations of $263.2 million, as trips exceeded levels seen before the pandemic, boosted by office reopenings and a surge in travel demand.Register now for FREE unlimited access to Reuters.comThe company also added more drivers and delivery agents to its fleet in the quarter, taking their total number to an all-time high of about 5 million and allaying concerns that soaring gas prices were deterring them from signing up.""We have a very strong flow of new drivers who are signing up, coming on to earn,"" Chief Executive Officer Dara Khosrowshahi said, adding that more than 70% of new drivers opted to join Uber to manage a hit from inflation and rising costs of living.At its delivery business, which includes Uber Eats, growth slowed from the prior quarter but the company expects ordering in to become a habit for consumers.A passenger walks near Uber signage after arriving at Los Angeles International Airport (LAX) in Los Angeles, California, U.S. July 10, 2022. REUTERS/David Swanson/File Photo Revenue from Uber's delivery segment rose 37% to $2.69 billion, while that of ride-share business surged 120% to $3.55 billion in the quarter ended June 30, both surpassing Wall Street expectations.Reuters Graphics""These results are particularly impressive given the growing list of macro and micro concerns weighing on Uber and Lyft,"" MKM Partners analyst Rohit Kulkarni said.Lyft is scheduled to report results on Thursday.Uber's net loss was $2.6 billion, largely hurt by investments in companies such as India's Zomato (ZOMT.NS). It is likely to sell its stake in the Indian food-delivery firm on Wednesday, a source told Reuters. read more Uber's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were $364 million, surpassing estimates of $257.89 million, according to IBES data from Refinitiv.It now expects adjusted EBITDA of $440 million-$470 million, also above estimates of $383.95 million.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.",Uber turns cash flow positive for the first time in bumper quarter.
"Employees walk past the logo of SK Hynix at its headquarters in Seongnam, South Korea, April 25, 2016. REUTERS/Kim Hong-JiRegister now for FREE unlimited access to Reuters.comSEOUL, Aug 3 (Reuters) - South Korea's SK Hynix Inc (000660.KS) has developed its most advanced NAND flash chip made up of 238 layers of memory cells for use in PC storage devices and later smartphones and servers, the world's second-largest memory chip maker said on Wednesday.SK Hynix described it as the ""industry's highest"" NAND flash chip and it follows U.S. rival Micron Technology Inc (MU.O) saying last week it had begun shipping a 232-layer NAND chip. read more SK Hynix said the new 238-layer chip is the smallest NAND flash chip in size, boasts a 50% improvement in data transfer speed over previous generation chips and power efficiency as well, as it cuts the volume of energy consumed for data reading by 21%.The company plans to start mass production of the chip in the first half of 2023.SK Hynix and Solidigm, the new name of Intel's NAND business which SK acquired, hold a combined 18% share of the NAND flash market, behind Samsung Electronics with 35.3% and Kioxia with 18.9%, according to first-quarter data from TrendForce.Register now for FREE unlimited access to Reuters.comReporting by Joyce Lee; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",SK Hynix says has developed its most advanced 238-layer storage chip.
"Politics Updated on: August 2, 2022 / 7:35 PM / CBS News Senate votes on aid for vets harmed by burn pits Senate votes on aid for veterans harmed by burn pits 01:47 The Senate on Tuesday night overwhelmingly approved the PACT Act, a bill to expand health care benefits for veterans who developed illnesses due to their exposure to burn pits during military service. The 86-to-11 vote was received with cheers from the Senate gallery. The bill now heads to President Biden's desk. The vote came after Senate Majority Leader Chuck Schumer announced Tuesday afternoon that he and Minority Leader Mitch McConnell had come to an agreement. ""This is a wonderful moment, especially for all the people who have made this happen who are observing it,"" Schumer said after the vote. ""Thank you, thank you, thank you, thank you."" Watching the final vote from the Senate gallery Tuesday night, comedian Jon Stewart, a vocal advocate for the bill and veterans, could be seen with tears in his eyes. Stewart has been on Capitol Hill rallying support for the bill. The legislation would expand benefits for an estimated 3.5 million veterans exposed to toxic burn pits during the U.S. wars in Afghanistan and Iraq. The legislation would remove the burden of proof from veterans seeking care for conditions related to exposure from burn pits by presuming a number of conditions, including terminal cancers, are related to the exposure.  Veterans, military family members and advocates rally outside the Capitol in Washington, Tuesday, Aug. 2, 2022, in support of a bill that enhances health care and disability benefits for millions of veterans exposed to the toxic burn pits. Mariam Zuhaib / AP Burn pits are holes in the ground the U.S. military dug near bases in countries that had limited infrastructure where troops would dump trash and burn it to dispose of it.  The bill initially passed the House and Senate in June, but due to a snag in the language, it had to go back to the House and Senate before it could be sent to President Biden's desk. The legislation again passed the House but failed to advance beyond a procedural vote in the Senate last week. Twenty-five Republican senators who had voted for the bill in June voted against advancing the bill last week, citing an objection to how the legislation is paid for. Republican Sen. Pat Toomey of Pennsylvania has objected since June to a provision in the legislation language that would move $400 billion in preexisting discretionary veterans spending to make it mandatory spending. A measure that is paid for with mandatory spending generally does not have to be approved each year, as discretionary spending does. Toomey argues that this changed designation frees up funds that could be used on items unrelated to veterans. Mr. Biden has blamed burn pits for the health problems of his late son, Beau Biden, who died of a brain tumor in 2015. In a 2019 speech to the Service Employees International Union, then-candidate Biden said because of his son's ""exposure to burn pits, in my view, I can't prove it yet, he came back with stage four glioblastoma."" Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Senate passes burn pit legislation to expand veteran health care.
"Politics August 2, 2022 / 7:35 PM / CBS News What's at stake in Michigan primaries Voters head to the polls in Michigan primaries 05:26 Washington — The Michigan Republican Party canceled a watch party for the state's primary election results after a female staff member was verbally assaulted at the party's headquarters Tuesday morning, the state GOP said.Gustavo Portela, communications director for the Michigan GOP, said the state party received ""several"" death threats this week, but the warnings reached a tipping point the morning of the primaries when the party's headquarters in Lansing received threats from a bystander who, in addition to verbally assaulting the staff member, threatened to shoot up the building and burn it down.""It's unfortunate that members of the opposite party would seize on this and joke about the situation, but this is the type of politics they play nowadays,"" Portela said in a statement. ""Our party won't be deterred, and we will continue to work tirelessly for Republican policies despite on-going threats. No type of violence against women should ever be tolerated."" The Michigan GOP filed a police report about the incident with the Lansing Police Department, it said.Portela told CBS News that the unidentified suspect had previously been outside the party's headquarters taking photographs. A ""Unity Reception"" for the state's gubernatorial candidates set for Wednesday is expected to proceed, though with additional security, he said. Michigan voters are heading to the polls Tuesday to decide the Republican who will take on Gov. Gretchen Whitmer, who is running unopposed in the Democratic primary, in November's general election. In the state's 3rd Congressional District, Rep. Peter Meijer, a Republican, is fighting to win his primary against John Gibbs after voting to impeach former President Donald Trump for incitement of the Jan. 6, 2021, insurrection. Gibbs served in the Trump administration within the Department of Housing and Urban Development.Aaron Navarro contributed to this report Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Michigan GOP nixes election night party after female staff member threatened, party says."
"Clouds hang above the Houses of Parliament in central London, Britain, June 24, 2017. BREUTERS/Marko Djurica/FilesRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voting by Britain's Conservative Party members to pick the next prime minister has been delayed after the GCHQ spy agency warned that cyber hackers could change people’s ballots, The Telegraph reported on Tuesday.There was no specific threat from a hostile state, and the advice was more general and about the voting process and its vulnerabilities, report added.As a result of the concerns, the Conservative Party has been forced to abandon plans to allow members to change their vote for the next leader later in the contest, according to the Telegraph.Register now for FREE unlimited access to Reuters.comPostal ballots are also yet to be issued to the around 160,000 party members who have now been warned they could arrive as late as Aug. 11, the report added. The ballots were earlier due to be sent out from Monday, The Telegraph reported.Former Finance Minister Rishi Sunak and Foreign Secretary Liz Truss are competing in the leadership contest to succeed Boris Johnson as the next British prime minister.Truss leads in opinion polls among Conservative Party members, who will decide who becomes the next prime minister on Sept. 5 after weeks of voting.The Government Communications Headquarters (GCHQ) gathers communications from around the world to identify and disrupt threats to Britain. A spokesperson for the National Cyber Security Centre (NCSC), which is a part of the GCHQ, said that it provided advice to the Conservative Party.""Defending UK democratic and electoral processes is a priority for the NCSC and we work closely with all Parliamentary political parties, local authorities and MPs to provide cyber security guidance and support,"" an NCSC spokesperson told Reuters.“As you would expect from the UK's national cyber security authority we provided advice to the Conservative Party on security considerations for online leadership voting,” the spokesperson added.Register now for FREE unlimited access to Reuters.comReporting by Shivam Patel in Bengaluru and James Pearson; Editing by Chris Reese and Alistair BellOur Standards: The Thomson Reuters Trust Principles.",Britain's Conservative Party voting for next PM delayed after hacking alert -The Telegraph.
"A person in a mask walks past the United States Supreme Court Building in Washington, D.C., U.S., May 13, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryRace-conscious college admissions have helped grow the pipeline of minority lawyers, they sayBut lawyer diversity still lags(Reuters) - Legal educators, law student organizations, bar associations and law firms this week flooded the U.S. Supreme Court with amicus briefs asking it to uphold the use of affirmative action in college admissions, arguing it is key to diversifying the legal profession and addressing bias in the justice system.The American Bar Association, the National Black Law Students Association, The National Women’s Law Center and the National LGBTQ+ Bar Association are among the more than 15 legal industry groups that submitted briefs in a closely watched case that seeks to bar Harvard University and the University of North Carolina from considering race in undergraduate admissions.Racial diversity in law ""can only be achieved if the private bar and the legal profession have a racially diverse pool of talent from which to recruit,” the 300-member Law Firm Antiracism Alliance wrote in its brief.Register now for FREE unlimited access to Reuters.comStudents for Fair Admissions — founded by anti-affirmative action activist Edward Blum — is appealing lower court rulings that upheld the programs used by the two prestigious universities to foster a diverse student population. The group claims the programs discriminate against Asian American applicants.The high court, with a 6-3 conservative majority, could end affirmative action with its decision in the case. Consovoy McCarthy partner William Consovoy, who is representing Students for Fair Admissions, did not respond to a request for comment on the legal groups' briefs Tuesday.Law firms and others in the legal industry have been vowing to increase their diversity for decades, with modest but steady gains over the years. Still, 86% of lawyers were white as of 2020, according to the ABA’s amicus brief — a significantly higher percentage than the overall U.S. population, which was 60% white.“The legal system has made significant progress over the last several decades, due in no small part to the increased diversity in the legal profession resulting from admissions policies that consider race as one of many factors,” the ABA’s brief said.Read more:U.S. Supreme Court to hear challenge to race-conscious college admissionsUniversity of North Carolina defeats challenge to race-based admissions policiesRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Karen SloanThomson ReutersKaren Sloan reports on law firms, law schools, and the business of law. Reach her at karen.sloan@thomsonreuters.com",Legal industry groups ask U.S. Supreme Court to protect affirmative action.
"Crime August 2, 2022 / 6:15 PM / AP Parkland school shooter faces sentencing trial Sentencing trial of Parkland school shooter enters second week 05:21 A grieving father erupted in anger Tuesday as he told jurors about the daughter Florida school shooter Nikolas Cruz murdered along with 16 others four years ago, his voice rising as he recounted her ""infectious laugh that I can only get to watch now on TikTok videos.""Dr. Ilan Alhadeff's emotional testimony about his 14-year-old daughter Alyssa marked a second day of tears as families, one after another, took the witness stand to give heartrending statements about their loved ones who died at Parkland's Marjory Stoneman Douglas High School on Feb. 14, 2018.He and his wife, Lori, described Alyssa's role as captain of her soccer team, the friend others always turned to for advice or a shoulder to cry on, and her plans to become a business lawyer. He cried as he recounted how he will not dance with his daughter at her wedding or see the children she would have had. ""My first-born daughter, daddy's girl was taken from me!"" yelled Alhadeff, an internal medicine physician. ""I get to watch my friends, my neighbors, colleagues spend time enjoying their daughters, enjoying all the normal milestones, taking in the normal joys and I only get to watch videos or go to the cemetery to see my daughter.""He said one of Alyssa's two younger brothers was too young to comprehend her death when it happened, but now ""asks to go see his sister at the cemetery from time to time."" ""This is not normal!"" he said angrily. Lori Alhadeff looks towards her husband as Ilan Alhadeff speaks angrily while giving his victim impact statement during the penalty phase of the trial of Marjory Stoneman Douglas High School shooter Nikolas Cruz on August 2, 2022 at the Broward County Courthouse in Fort Lauderdale, Florida. The Alhadeff's daughter, Alyssa, was killed in the 2018 shootings. Amy Beth Bennett / Getty Images Cruz, 23, pleaded guilty to 17 counts of first-degree murder in October; the trial is only to determine whether he is sentenced to death or life without parole. Over the two days of family statements, he has shown little emotion, even as several of his attorneys wiped away tears and Circuit Judge Elizabeth Scherer's voice broke when she gave directions. He mostly stares straight ahead or looks down at the table where he sits.As one family testifies, others sob in the gallery while awaiting their turn. When finished, they stay to lend support. They exchange packets of tissues, shoulder rubs and, when breaks come, hugs. Some jurors wipe away tears, but most sit stoically. Some families had statements read for them. The mother of 14-year-old Martin Duque wrote that while he was born in Mexico, he wanted to become a U.S. Navy Seal. The wife of assistant football coach Aaron Feis wrote that he was a doting father to their young daughter and a mentor to many young people. The mother of 16-year-old Carmen Schentrup wrote that she was a straight-A student whose letter announcing she was a semifinalist for a National Merit Scholarship arrived the day after she died. She wanted to be a doctor who researched amyotrophic lateral sclerosis, commonly known as Lou Gehrig's disease.Shara Kaplan sobbed as she told the jurors of her two sons' sadness that they weren't there to protect their little sister, 18-year-old Meadow Pollack. Luke Hoyer's mom, Gina, said the 15-year-old was her ""miracle baby,"" her ""Lukey Bear."" She said he yelled down that Valentine's Day morning to thank her for the card and Skittles she'd placed in his bathroom. The gifts stayed there for a year. His father, Tom, said he never saw his son that morning, but yelled up ""Have a good day"" as he hurried to work. ""That is the kind of exchange you have when you think you have tomorrow,"" he said.Fred Guttenberg, who has become a national advocate for tighter gun laws, said he regrets that the last words he said to his 14-year-old daughter Jaime weren't ""I love you"" but instead, ""You gotta go, you are going to be late"" as he pushed her and her older brother out the door that morning. He said his son is angry with him for telling him to run when he called in a panic to say there was a gunman at the school instead of having him find his sister, even though it would have made no difference. His wife, Jennifer Guttenberg, said that while her daughter was known for her competitive dancing, she volunteered with the Humane Society and with special needs children. She planned to be a pediatric physical therapist. Fred Guttenberg, center left, and Michael Schulman are shown in the gallery during the penalty phase of the trial of Marjory Stoneman Douglas High School shooter Nikolas Cruz at the Broward County Courthouse in Fort Lauderdale, Florida, on Monday, August 1, 2022. Sun Sentinel Annika Dworet, her husband Mitch sitting somberly at her side, told the jurors about their son Nick, who was 17 when he died. A star swimmer, he had accepted a scholarship to the University of Indianapolis and was training in hopes of competing for his mother's native Sweden in the 2020 Olympics. His younger brother, Alex, was wounded in the shooting. ""He was always inclusive of everyone. On his last evening with us, he spent time speaking to the younger kids on the swim team, giving them some pointers,"" she said. But now, she said, ""our hearts will forever be broken.""""We will always live with excruciating pain. We have an empty bedroom in our house. There is an empty chair at our dining table. Alex will never have a brother to talk or hang out with. They will never again go for a drive, blasting very loud music. We did not get to see Nick graduate from high school or college. We will never see him getting married.""We will always hesitate before answering the question, 'How many kids do you have?'"" In: Sports Homicide School Shooting Education Swimming Florida Trial Marjory Stoneman Douglas High School Crime Shootings Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Grieving father erupts at Parkland school shooter's trial.
"Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The killing of al Qaeda leader Ayman al-Zawahiri by the United States may prompt al Qaeda supporters to target U.S. facilities or citizens with the potential for more anti-American violence, the State Department warned on Tuesday.""Following al-Zawahiri’s death, supporters of al- Qa’ida, or its affiliated terrorist organizations, may seek to attack U.S. facilities, personnel, or citizens,"" the State Department said in a Worldwide Caution Update. ""The Department of State believes there is a higher potential for anti-American violence given the death of Ayman al-Zawahiri on July 31, 2022.""Register now for FREE unlimited access to Reuters.comReporting by Caitlin Webber; writing by Costas Pitas; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","Al Qaeda leader's killing risks greater anti-American violence, State Dept warns."
"U.S. Senator Joe Manchin (D-WV) speaks with reporters on Capitol Hill in Washington, U.S. August 2, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Automakers want Democratic Senator Joe Manchin to revisit his proposal to restructure the $7,500 electric vehicle tax credit, raising fears it could be largely unworkable because of new sourcing requirements for battery components and critical minerals.Manchin on Tuesday expressed little interest in revising his proposal.""Tell (automakers) to get aggressive and make sure that we're extracting in North America, we're processing in North America and we put a line on China,"" Manchin told reporters. ""I don't believe that we should be building a transportation mode on the backs of foreign supply chains. I'm not going to do it.""Register now for FREE unlimited access to Reuters.comManchin said the United States builds its own gasoline-powered vehicles and engines. ""Now all of a sudden - now we can't?"" the senator from West Virginia asked. ""Come on.""The proposal would lift the existing 200,000-vehicle cap on the $7,500 credit and impose new restrictions on automakers who have not yet hit that limit.The joint proposal from Manchin and Senate Democratic Leader Chuck Schumer would also create a new $4,000 tax credit for used EVs.Automakers say privately the percentage targets for critical minerals and battery components sourcing are too high and rise too quickly.Democratic Senator Debbie Stabenow of Michigan told Reuters on Tuesday: ""It's a very cumbersome, unworkable credit once the full restrictions set in. There's conversations going on.""She did note the bill includes billions of dollars in new loans and grants for auto and battery production and commercial vehicle credits.EV startup Rivian Automotive Inc (RIVN.O) said the EV tax credit proposal ""will pull the rug out from consumers considering purchase of an American made electric vehicle"" and added the ""final package must extend the transition period.""General Motors Co (GM.N) said on Friday that ""some of the provisions are challenging and cannot be achieved overnight."" The automaker added that it was ""encouraged by the framework laid forth in the legislative text.""Asked if automakers had submitted specific changes to Manchin, the head of auto trade group the Alliance for Automotive Innovation, John Bozzella, told Reuters. ""we're having good conversations."" He declined to elaborate.The bill includes rising requirements for the percentage of North American battery components by value and would disallow any batteries after 2023 with any Chinese components. Automakers including GM and Tesla Inc (TSLA.O) previously hit the cap and are no longer eligible for the existing EV tax credit.Republican Senator Marco Rubio said on Tuesday he will file an amendment seeking to ensure EV credits can apply only if the EV battery's critical minerals are sourced in the United States or from a country with which the United States has a free trade agreement.The new EV tax credits, which would expire at the end of 2032, would be limited to trucks, vans and SUVs with suggested retail prices of no more than $80,000 and to cars priced at no more than $55,000. They would be limited to families with adjusted gross incomes of up to $300,000 annually.President Joe Biden's target is for EVs to comprise half of all new vehicles sold in 2030.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson in Washington
Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Automakers press U.S. Senator Manchin for changes to EV tax credit proposal.
"Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Kansas will decide on Tuesday whether the state constitution should go on protecting abortion rights in a closely watched referendum that could lead to abortion access being curtailed or banned in America's heartland.The vote is the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.Voters are being asked whether they want to amend the Kansas state constitution to assert there is no right to abortion. The amendment's passage, which requires a simple majority, would reverse a 2019 state Supreme Court ruling that established such a right in Kansas. read more Register now for FREE unlimited access to Reuters.comAs a result of the 2019 ruling, Kansas - a deeply conservative state that Republican Donald Trump won with 56% of the vote in the 2016 and 2020 presidential elections - has more lenient abortion policies than some of its red-state neighbors.Kansas allows abortion up to 22 weeks in pregnancy with several additional restrictions, including a mandatory 24-hour waiting period and mandatory parental consent for minors.Passage of the proposed constitutional amendment would enable the state's Republican-dominated legislature to regulate abortion much further. That could restrict abortion access across the central United States given patients travel to Kansas from Texas, Oklahoma and Missouri, where abortion is banned in almost all cases.Yard sign urges residents to vote on an amendment to Kansas' constitution that would assert there is no right to abortion, in Wichita, Kansas, U.S., July 11, 2022. REUTERS/Gabriella Borter/File PhotoA poll conducted July 17-18 by research group Co/efficient showed the vote could be close, with 47% of voters in favor of taking away the constitutional right to an abortion, 43% against it and 10% undecided.The ballot question has drawn national attention and money.The Value Them Both Association, which supports the amendment, raised about $4.7 million this year, with donations from regional Catholic dioceses amounting to more than $3 million, according to campaign finance reports released in July. Federal tax law prevents non-profits like churches from donating to political candidates but permits donations to broader causes.Kansans for Constitutional Freedom, the main coalition opposing the amendment, raised about $6.5 million in 2022, including donations adding up to more than $1 million from Planned Parenthood groups.Kansas holds its primary elections for governor and other down-ballot races on Tuesday. Republicans typically turn out in greater numbers for the state's primary elections than Democrats and independents, giving the proposed amendment a higher chance of passing, political analysts said.The amendment's fate could hinge on the turnout of the 29% of registered voters who are not affiliated with a political party, and young voters who may not like Democrats but want to protect abortion rights, according to Wichita State University political science professor Neal Allen.The ballot initiative is the first of several that will ask U.S. voters to weigh in on abortion rights this year. Kentucky, California, Vermont and possibly Michigan will have abortion on the ballot this fall.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter in Washington
Editing by Colleen Jenkins and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.",Abortion rights face voter test in Kansas after Roe v. Wade reversal.
"Power lines are seen during a heatwave with expected temperatures of 102 F (39 C) in Dallas, Texas, U.S. June 12, 2022. REUTERS/Shelby Tauber/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - Record U.S. electricity consumption is driving near-record combustion of gas by power generators, ensuring gas inventories remain under pressure and prices remain high.In common with other parts of the U.S. economy, growth in gas production and the electricity supply has not kept pace with growth in demand after the pandemic, creating ongoing shortages.Net electricity generation between January and April amounted to 1,337 billion kilowatt-hours surpassing the previous seasonal records of 1,331 billion kWh in 2014 and before that 1,319 billion kWh in 2008.Register now for FREE unlimited access to Reuters.comGas-fired units accounted for 470 billion kWh in the first four months, their second-highest seasonal output after 500 billion kWh in 2020, according to data from the U.S. Energy Information Administration (EIA).Gas-fired generation is surging this year despite high fuel prices – in contrast to 2020 when the surge was driven by collapsing gas prices, which caused gas generators to run in preference to coal ones.There is not enough spare capacity in the generation system to reduce reliance on gas even as prices rise, especially since many coal units have been decommissioned.(Chartbook: https://tmsnrt.rs/3brXAsL)Natural gas prices actually paid by generators in the first four months of 2022 were more than double those in the corresponding period in 2020 (“Monthly energy review”, EIA, July 26).Gas generators accounted for 35% of all power output in the first four months, compared with 21% from coal, 19% from nuclear, 16% from wind and solar, and 7% from conventional hydro.One consequence is that gas-fired generators consumed 3,832 billion cubic feet of gas in the first four months of the year, second only to 4,083 bcf in 2020, and well above the pre-pandemic five-year average of 3,315 bcf.Gas generators are almost certain to have maintained a record or near-record output and gas consumption in May, June and July, given temperature trends across the Lower 48 states.Temperatures and air-conditioning demand have been persistently above average since May and gas-fired units remain the marginal suppliers to the electricity network ensuring heavy run rates.As a result, there has been a relentless squeeze on gas inventories, which have fallen below the pre-pandemic five-year seasonal average since late January, driven by a combination of higher generation and faster LNG exports.Working gas stocks currently sit 386 billion cubic feet (14%) below the pre-pandemic five-year seasonal average and show no sign of recovering.Gas and electricity shortages are likely to keep prices relatively high throughout winter 2022/23 – especially given ongoing LNG demand from Europe as the region tries to replace Russian gas.Related columns:- U.S. gas prices climb as stocks fail to rebuild fast enough (Reuters, July 29) read more - U.S. gas production must accelerate to meet LNG export demand (Reuters, June 1) read more - Drought adds to pressure on U.S. gas inventories (Reuters, May 27) read more - U.S. gas prices soar as Europe and Asia scramble for LNG (Reuters, May 6) read more John Kemp is a Reuters market analyst. The views expressed are his ownRegister now for FREE unlimited access to Reuters.comEditing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.John KempThomson ReutersJohn Kemp is a senior market analyst specializing in oil and energy systems. Before joining Reuters in 2008, he was a trading analyst at Sempra Commodities, now part of JPMorgan, and an economic analyst at Oxford Analytica. His interests include all aspects of energy technology, history, diplomacy, derivative markets, risk management, policy and transitions.",Column: U.S. power producers are consuming near-record volumes of gas.
"Crime August 2, 2022 / 6:12 PM / CBS News Masih Alinejad on women's issues in Iran Masih Alinejad on ""being a product of the Iranian Revolution"" and the treatment of women in Iran 01:40 Prominent Iranian-American journalist and activist Masih Alinejad lambasted her former home country just days after a man with an AK-47-style assault rifle was arrested near her home in Brooklyn. Alinejad, who fled Iran in 2009 following the presidential election and crackdown, believes the government was trying to assassinate her. ""I'm not scared [for] my life at all because I know what I'm doing,"" she told CNN. ""I have only one life, and I dedicated my life to give voice to Iranian people inside Iran who bravely go to the streets — face guns and bullets to protest against Iranian regime — but this is happening in America.""During the interview, she said she believes the man was tied to the Iranian government because she has no other enemies. Alinejad told the regime to ""go to hell."" Journalist and author Masih Alinejad speaks onstage during the WICT Leadership Conference at New York Marriott Marquis Hotel on October 16, 2018, in New York City. Larry Busacca/Getty Images for Women in Cable Telecommunications According to a criminal complaint filed in federal court Friday, law enforcement said they had seen Khalid Mehdiyev, 23, outside of a Brooklyn home over a period of two days. He was acting suspiciously, according to authorities — he exited and got back into his car several times, attempted to look into the home's windows, and, at one point, allegedly tried to open the door.  That same day, police pulled Mehdiyev over a block away from the home for failing to stop at a stop sign, according to the complaint. He was subsequently arrested for driving without a license.After taking him to a nearby precinct house, police found a loaded AK-47 with an ""obliterated"" serial number in his car, along with ""a separate second magazine, and a total of approximately 66 rounds of ammunition."" During a search of the suspect's car following his arrest, federal prosecutors say NYPD found a suitcase containing a Norinco AK-47-style assault rifle.  Southern District of New York Although the complaint made no mention of Alinejad, she says authorities notified her of the incident, and Mehdiyev's arrest, last week, CBS New York reports. ""I was shocked that when I saw the picture of the gun, I was like, 'Wait a minute, this gun is being used right now in Ukraine by Russian soldiers. This is Brooklyn. What did I do?'"" Alinejad told CBS New York. Home surveillance video, which Alinejad shared on Twitter, captured a man pacing back and forth with a cellphone. Alinejad believes the man was there to kill her. ""I don't know anything about the person, but I know the Islamic Republic. I know that my first enemy is the Islamic Republic,"" Alinejad said. ""Imagine if the guy had opened fire. Who knows how many of my neighbors would have been killed?"" These are the scary scenes capturing a man who tried to enter my house in New York with a loaded gun to kill me.Last year the FBI stopped the Islamic Republic from kidnapping me.My crime is giving voice to voiceless people. The US administration must be tough on terror. pic.twitter.com/XsxlFLSlOk— Masih Alinejad 🏳️ (@AlinejadMasih) July 31, 2022 According to the complaint, Mehdiyev admitted to police the assault weapon was his and that he had traveled from Yonkers to Brooklyn to look for someone. He then asked for a lawyer. Mehdiyev is facing multiple federal charges, including criminal possession of a machine gun, CBS New York reports. Last summer, Alinejad was also the target of an alleged kidnapping plot, where an Iranian intelligence officer and three alleged members of an Iranian intelligence network were charged. The government denied its role in the plot.Alinejad has long been an outspoken women's rights activist. She has launched ""White Wednesday"" and ""My Stealthy Freedom"" campaigns, where women film themselves without head coverings, or hijabs, in public in Iran, actions which are punishable by arrest or fines.In 2018, Alinejad spoke with CBS News about how women are treated in Iran, and why she boycotted wearing the traditional headscarf.""What you have to understand is we are not fighting against a small piece of cloth,"" Alinejad said. ""We are actually challenging the foundational block of the Islamic Republic of Iran.""She told CBS New York she hopes incidents like this one lead the White House to keep a closer eye on the Iranian government.""It is important that I see this man is behind the bar, but this is not only him,"" Alinejad said. ""These ideas should be stopped by the American government. My crime is just giving voice to the voiceless people inside Iran."" In: Iran New York City Michael Roppolo Michael Roppolo is a CBS News reporter. He covers a wide variety of topics, including science and technology, crime and justice, and disability rights. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Journalist Masih Alinejad tells Iran to ""go to hell"" after man with weapon arrested near her N.Y.C. home."
"CNBC's Jim Cramer on Tuesday said that inflation is coming down at a good pace and called out Federal Reserve leaders for hawkish comments that are dragging down the market.""While we hear Fed officials and hedge fund managers and strategists opine about how the Federal Reserve will have to double the federal funds rate to stop runaway inflation, ask yourself which commodities, which goods they're actually talking about,"" the ""Mad Money"" host said.Chicago Fed President Charles Evans said Tuesday that he hopes for smaller interest rate increases going forward, starting with a half-percentage-point raise in September followed by quarter-percentage-point hikes until the start of the second quarter next year.In contrast, San Francisco Fed President Mary Daly said that the Fed is ""nowhere near almost done"" with interest rate increases and Cleveland Fed President Loretta Mester warned that the central bank is not in a position to relax its inflation policy just yet. Cramer pointed to falling prices in commodities including lumber, copper and aluminum to illustrate his point. He acknowledged that oil is still high, but reminded investors that gas prices have come down at the pumps. Job openings fell in June to their lowest level since September 2021, suggesting the market is beginning to slow. In addition, inventory gluts at stores like Walmart mean there'll be cheaper prices for goods on shelves, he added.""I don't know how far prices have to fall before these people notice,"" Cramer said.",Cramer says Fed officials' aggressive inflation statements on Tuesday are dragging down market.
"Abortion rights activists protest outside the venue of a summit by the conservative group 'Moms For Liberty' in Tampa, Florida, U.S. July 16, 2022. REUTERS/Octavio JonesRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Clergy members of five religions sued the state of Florida on Monday over a new law criminalizing most abortions in the state after 15 weeks of pregnancy, saying the ban violates their religious freedom rights.The five separate lawsuits, filed in Miami-Dade County, claim the state's ban curtails the clergy members' ability to counsel congregants about abortion in accordance with their faiths, since Florida law prohibits counseling or encouraging a crime.The plaintiffs are three rabbis, a United Church of Christ reverend, a Unitarian Universalist minister, an Episcopal Church priest and a Buddhist lama. They asked the court to declare that the state's abortion law violates Florida and U.S. constitutional protections for freedom of speech and religion.Register now for FREE unlimited access to Reuters.comThey also claim the abortion ban violates a Florida religious freedom law that prohibits the government from “substantially burdening” the exercise of religion, unless there is a compelling state interest that cannot be met with fewer restrictions.Florida Attorney General Ashley Moody said in a statement that her office will continue to defend the statute. Marci Hamilton, a professor at the University of Pennsylvania representing the plaintiffs, said the cases are ""absolutely essential"" to address the tension between abortion restrictions and religious freedom.A Florida synagogue has also filed a lawsuit challenging the abortion law. That case is pending in a different state court. read more The Florida law, which bans abortions after 15 weeks with few exceptions, went into effect on July 1. Florida Gov. Ron DeSantis signed the law in April, before the U.S. Supreme Court's June ruling overturning the constitutional right to abortion nationwide.An appeal is now pending over a judge's ruling last month that the state ban violates the Florida constitution’s privacy rights guarantees. The state’s high court previously said those guarantees protect the right to abortion. read more Register now for FREE unlimited access to Reuters.comReporting by Jacqueline Thomsen in Washington
Editing by David Bario and David GregorioOur Standards: The Thomson Reuters Trust Principles.Jacqueline ThomsenThomson ReutersJacqueline Thomsen, based in Washington, D.C., covers legal news related to policy, the courts and the legal profession. Follow her on Twitter at @jacq_thomsen and email her at jacqueline.thomsen@thomsonreuters.com.",Florida clergy lawsuits say abortion ban violates religious freedom.
"MoneyWatch August 2, 2022 / 5:39 PM / MoneyWatch Equifax this spring sent out incorrect credit scores for millions of customers applying for home and auto loans, the Wall Street Journal reported on Tuesday. As one of three major credit-reporting companies in the U,S., Equifax provides financial information and scores for consumers, affecting whether people are approved for products incuding mortgages, credit cards and car loans, and what interest rate they pay. Most credit ratings range from 300 to 850, with higher-scoring consumers getting more favorable terms. The Journal reported that millions of Americans were affected by Equifax's error, with some scores changing by as much as 20 points in either direction — enough for some prospective borrowers to be rejected for a loan. According to the paper, a small number of people went from having no credit score to having a score in the 700s, or vice-versa. The incorrect scores were sent to Ally Financial, JPMorgan Change and Wells Fargo, among other lenders, the Journal reported, citing unnamed sources. Coding problemIn a statement on its website, Equifax said it fixed the error, which it referred to as a ""coding issue.""""We know that businesses and consumers depend on our data and Equifax takes this technology coding issue very seriously. We can confirm that the issue has been fixed and that we've been working closely with our customers on analysis to best meet the needs of consumers,"" the company said. Equifax also said that underlying credit report information did not change. ""[T]here was no shift in the vast majority of scores during the three-week timeframe of the issue,"" the company said. ""For those consumers that did experience a score shift, initial analysis indicates that only a small number of them may have received a different credit decision.""The news was previously reported by National Mortgage Professional, a trade publication, in May. Equifax CEO Mark Begor acknowledged the error at a financial conference in June. ""We had a coding issue that was a mistake made by our technology team in one of our legacy applications that resulted in some scores going out that had incorrect data in it. And we fixed the issue,"" he told attendees, according to a transcript of the event.Begor added that the company was working with affected consumers, noting, ""We think the impact is going to be quite small, not something that's meaningful to Equifax."" Equifax was previously implicated in a 2017 data breach that exposed sensitive information of nearly 150 million Americans and resulted in the ouster of the company's then-CEO. Equifax paid $700 million in fines and restitution after the breach. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Equifax issued wrong credit scores for ""millions"" of customers, report says."
"A U.S. Army Terminal High Altitude Area Defense (THAAD) weapon system is seen on Andersen Air Force Base, Guam, October 26, 2017. U.S. Army/Capt. Adan Cazarez/Handout via REUTERS/FilesRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The U.S. State Department approved the potential sale of Terminal High Altitude Area Defense (THAAD) missile interceptors to the United Arab Emirates and Patriot missile interceptors to Saudi Arabia in separate deals worth as much as $5.3 billion, the Pentagon said on Tuesday.The potential deals, which would resupply key missile defense systems for the two countries, came just weeks after President Joe Biden's July trip to the region. Biden had hoped to reach an oil production deal to lower gasoline prices as inflation hits 40-year highs and threatens his approval ratings. read more Despite approval by the State Department, notification to the U.S. Congress of the deals does not indicate that a contract has been signed or that negotiations have concluded. The procedural step of notifying Congress is often the first public acknowledgment that a deal is in the works.Register now for FREE unlimited access to Reuters.comThe U.S. State Department approved the potential sale of 300 MIM-104E Guidance Enhanced Missile-Tactical Ballistic Missiles (GEM-T) for the Patriot missile defense system as well as support equipment, spares and technical support to the Kingdom of Saudi Arabia, the Pentagon said.The Pentagon said Raytheon Technologies (RTX.N) was the prime contractor for the Patriot interceptors and equipment, which could be worth as much as $3.05 billion.Separately the State Department approved the potential sale of 96 THAAD missile defense system interceptors and support equipment to the United Arab Emirates along with spares and technical support, the Pentagon said.The Pentagon said Lockheed Martin (LMT.N) was the prime contractor for the THAAD interceptors and equipment, which could be worth $2.25 billion.The Biden administration has had a policy of not selling offensive weapons to Saudi Arabia, though it is weighing rolling that back. read more Register now for FREE unlimited access to Reuters.comReporting by Mike Stone in Washington and Ismail Shakil in Ottawa; editing by Jonathan Oatis and Josie KaoOur Standards: The Thomson Reuters Trust Principles.",U.S. to resupply Saudi and UAE missile defense systems.
"Entertainment Updated on: August 2, 2022 / 6:17 PM / CBS News Demi Lovato announces they are nonbinary Singer Demi Lovato announces they are nonbinary 00:44 Last year, Demi Lovato announced that they were nonbinary and would like to be referred to as they/them. They stated that the label non-binary, ""best represents the fluidity I feel in my gender expression, and allows me to feel most authentic and true to the person I both know I am and still am discovering."" In an interview released Monday on the Spout podcast, Lovato revealed that they readopted the pronouns she/her.  ""So for me, I'm such a fluid person that I don't really ... I felt like, especially last year, my energy was balanced, and my masculine and feminine energy, so that when I was faced with the choice of walking into a bathroom, and it said, 'women' and 'men,' I didn't feel like there was a bathroom for me, because I didn't feel necessarily like a woman,"" the singer shared. ""I didn't feel like a man. I just felt like a human. And that's what they/them is, is about for me, it's just about, like, feeling human at your core.""  Earlier this year, Demi updated her pronouns on Instagram to they/them/she/her, though she identifies as non-binary. In the podcast, Lovato said: ""Recently I've been feeling more feminine, and so I've adopted she/her again. But I think what's important is, like, nobody's perfect. Everyone messes up pronouns at some point, and especially when people are learning, it's just all about respect."" In July 2021, Lovato tweeted about being misgendered.""If you misgender me, that's okay. I accidentally misgender myself sometimes! It's a huge transition to change the pronouns I've used for myself my entire life. And it's difficult to remember sometimes!"" she tweeted. I felt the need to post this because I often find that the change in pronouns can be confusing for some, and difficult to remember for others. It’s all about your intention. It’s important to me that you try, but if you make a mistake, it’s okay 😊🙏🏼💞 pic.twitter.com/nd37qvMGqk— Demi Lovato (@ddlovato) July 13, 2021 ""As long as you keep trying to respect my truth and as long as I remember my truth, the shift will come naturally,"" Lovato added. ""I'm just grateful for your effort in trying to remember what means so much to my healing process."" In: Demi Lovato LGBTQ+ Jaz Garner Jaz Garner is a producer, culture writer and journalist for CBS News. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Pop star Demi Lovato adds ""she/her"" to preferred pronouns again."
"Michigan Governor Gretchen Whitmer speaks during the Motor Bella 2021 auto show in Pontiac, Michigan, U.S., September 21, 2021. REUTERS/Rebecca CookRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Michigan Governor Gretchen Whitmer said the state is well positioned to attract new investment in semiconductor chips manufacturing after Congress passed $52 billion in new subsidies.""The state of Michigan is uniquely positioned,"" Whitmer told Reuters in an interview. ""We want to make sure that our potential partners in this chips manufacturing moment are ready to move as fast as we are because we are going to have to move together.""President Joe Biden is expected to sign the ""Chips and Science"" act early next week. The bill provides about $52 billion in government subsidies for U.S. semiconductor production and an investment tax credit for chip plants estimated to be worth $24 billion.Register now for FREE unlimited access to Reuters.comBiden on Tuesday will virtually join an event in Michigan to mark Whitmer’s signing of an Executive Directive to position the state to compete for chips manufacturing funding.The Detroit Three automakers have been especially hard hit by the chips shortage and often forced to halt production because of a lack of chips over the last two years.Last week, General Motors Co (GM.N) said it had more than 90,000 unfinished vehicles, mostly trucks and SUVs, waiting for chips and other parts, while Ford said last week it had 18,000 vehicles awaiting chips.There are currently tens of thousands of otherwise completed vehicles parked in southeast Michigan awaiting chips so they can be delivered.Congress last week approved sweeping legislation to subsidize the domestic semiconductor industry, hoping to boost companies as they compete with China and alleviate a persistent shortage that has affected everything from cars and weapons to washing machines and video games.""I think that we'll see companies starting to make decisions,"" Whitmer said, adding that Michigan ""has a lot of built in strengths including built in customers"" and a skilled engineering workforce.Senator Mark Warner said last week the bill would help fund 10 to 15 new semiconductor factories. ""If we had not done this, there would not be another American semiconductor manufacturing plant ever built in this country,"" Warner said.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.",Michigan working to attract chip manufacturers under new U.S. bill -governor.
"The company logo for lithium producer Livent Corp is displayed on a screen at the New York Stock Exchange (NYSE) during the company's IPO in New York, U.S., October 11, 2018. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - General Motors Co (GM.N) is prepaying Livent Corp (LTHM.N) $198 million for a guaranteed six-year supply of lithium, a deal that reflects the auto industry's rising worry about a tightening market for the electric vehicle battery metal.Prepaying cash for a guaranteed metal supply is unusual in the mining industry. The deal shows GM's eagerness to ensure it has sufficient raw materials to meet its goal of producing 1 million EVs annually in North America by 2025.Both companies announced the broad brushstrokes of the deal last week, but Livent announced financial terms on Tuesday as it posted a better-than-expected profit and raised its forecast for the year.Register now for FREE unlimited access to Reuters.com""GM is certainly thinking for the long term here,"" Paul Graves, Livent's chief executive, told investors on a Tuesday conference call. ""By making the advanced payment, they are clearly giving us the commitment that we were looking for.""Graves has long prodded automakers to work closer with lithium producers. In an interview with Reuters last fall, Graves warned that unless the auto industry signed long-term deals, ""there may be periods where there is just insufficient lithium.""Livent produces lithium in Argentina and has processing facilities in the United States.Livent, which also supplies BMW(BMWG.DE),expects to receive the GM prepayment later this year. The company is set to start supplying GM in 2025 at a contractual price per tonne, though neither company disclosed volume.Philadelphia-based Livent reported second-quarter net income of $60 million, or 31 cents per share, compared with $6.5 million, or 4 cents per share, a year ago.Excluding one-time items, Livent earned 37 cents per share. By that measure, analysts expected earnings of 29 cents per share, according to IBES data from Refinitiv.Livent said expansion of its Argentina site is on schedule. The company's stock rose slightly in after-hours trading.Register now for FREE unlimited access to Reuters.comReporting by Ernest Scheyder; editing by Jonathan Oatis, Bill Berkrot and David GregorioOur Standards: The Thomson Reuters Trust Principles.Ernest ScheyderThomson ReutersCovers the future of energy and transportation including electric vehicle and battery technology, with a focus on lithium, copper, cobalt, rare earths and other minerals, politics, policy, etc. Previously covered the oil and natural gas, including a stint living in North Dakota’s Bakken shale oil patch.",GM prepaying Livent $198 million for guaranteed lithium supply.
"A trader works on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 7, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 2 (Reuters) - U.S. companies are reporting mostly upbeat news this earnings season, surprising investors who had been bracing for a gloomier outlook on both businesses and the economy.More than halfway into the second-quarter reporting period, S&P 500 company earnings are estimated to have increased 8.1% over the year-ago quarter, compared with a 5.6% estimate at the start of July, according to IBES data from Refinitiv as of Tuesday.Some 78% of earnings reports are beating Wall Street expectations, above the long-term average.Register now for FREE unlimited access to Reuters.comProfit growth estimates for the third and fourth quarters have come down, but remain sharply positive. S&P 500 earnings for all of 2022 are now forecast to grow 8.1% versus a 9.5% estimated in July, based on Refinitiv data.Investors had been worried that if high inflation and rising interest rates were about to tip the economy into recession, earnings estimates for 2022 were too high.Raising the risk that the economy was on the cusp of a recession, the U.S. Commerce Department said last week the American economy unexpectedly contracted in the second quarter - the second straight quarterly decline in gross domestic product. read more Concerns over a possible recession had driven a sharp selloff in stocks in the first half of the year. But the S&P 500 (.SPX) and Nasdaq (.IXIC) ended July with their biggest monthly percentage gains since 2020, partly because of stronger-than-expected earnings.""The consensus view (was) that earnings were going to just fall apart,"" said Jonathan Golub, chief U.S. equity strategist & head of quantitative research at Credit Suisse Securities. ""And it just didn't play out that way.""Company reports are showing that demand remains robust and sales are holding up, he said.""If you want to say, what's the health of the economy, it's measured in sales,"" Golub said.Year-over-year revenue for S&P 500 companies in the quarter is expected to have risen 12.5% as of Tuesday, compared with 10.4% estimated at the start of July, based on Refinitiv data.Upbeat forecasts from heavyweights Apple and Amazon.com (AMZN.O) boosted investors' mood late last week, while Chevron Corp (CVX.N) and Exxon Mobil (XOM.N) reported record quarterly revenues.Apple said parts shortages were easing and that demand for iPhones was continuing, while Amazon.com forecast a jump in third-quarter revenue.""It's held up pretty well, particularly for large-cap names, but of course people were expecting the worst,"" said Rick Meckler, partner at Cherry Lane Investments, a family investment office in New Vernon, New Jersey.To be sure, the news has not been positive all around. Walmart (WMT.N)rattled investors early last week when it cut its full-year profit forecast, blaming surging prices for food and fuel. read more That's raised worried about the health of the consumer and prospects for other retailers, most of which have yet to report results on the last quarter.Also, analysts have been cutting their third-quarter earnings growth estimates by more than usual when compared with ""either pre-pandemic or over the last two years,"" Nicholas Colas, co-founder of DataTrek Research, wrote in a note this week.Whether earnings forecasts hold up is key to valuations. The S&P 500's forward 12-month price-to-earnings ratio, at 17.5 as of Tuesday, is down from 22.1 at the end of December but still above the long-term average of about 16, Refinitiv data showed.Other strategists said the season is following a normal pattern: Companies often are more negative than positive with their outlooks, so earnings forecasts for upcoming quarters tend to go down typically during a reporting period.""So far, what's happened isn't something that's worse than feared. And the market was already braced for bad news,"" said Keith Lerner, chief market strategist at Truist Advisory Services in Atlanta.Register now for FREE unlimited access to Reuters.comReporting by Caroline Valetkevitch; Editing by Alden Bentley and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.","U.S. corporate profits, economic outlooks, surprisingly upbeat."
"Nikola Motor CompanySource: Nikola Motor CompanyElectric truck maker Nikola has finally won shareholder approval to issue new stock, the company said on Tuesday. Nikola has been trying since June 1 to win enough votes to overcome the objection of its since-departed founder, who previously voted his 20% interest in Nikola against the proposal.In a webcast on Tuesday, CEO Mark Russell said the measure had finally passed, though the company didn't immediately disclose the margin.Nikola has been seeking to raise additional money by issuing new stock, a process that required approval by owners of at least 50% of the company's outstanding shares.Its June 1 annual shareholders' meeting was adjourned after Nikola's founder and former CEO and chairman, Trevor Milton, voted against the proposal. The meeting briefly resumed on June 30, and again on July 18, only to be adjourned again on both occasions as the total votes in favor fell short of the needed threshold.Milton, who founded Nikola in 2014, left the company in September 2020 following allegations of fraud. He remains the company's largest shareholder. Milton owns about 11% of Nikola's stock outright and controls another 9% via an investment vehicle that he co-owns, giving him effective control of about 90 million shares of Nikola's stock.Milton was indicted by a federal grand jury on four counts of fraud related to representations he made to potential Nikola investors. His trial is scheduled to begin in September. Milton has denied the allegations.Nikola said on Monday that it has agreed to acquire battery-pack supplier Romeo Power in a $144 million all-stock transaction that won't require it to issue new shares. The truck maker is expected to report its second-quarter results — and its plans for the additional shares — before the U.S. markets open on Thursday.",Nikola shareholders approve measure to issue new stock over ex-CEO Trevor Milton's objection.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The United States sued Idaho on Tuesday to block a state law that it said imposes a ""near-absolute ban"" on abortion, marking its first legal challenge to state abortion laws since the Supreme Court in June overturned the landmark 1973 Roe v. Wade ruling.The lawsuit, filed in a federal court in Idaho, says the state's abortion ban violates the Emergency Medical Treatment and Labor Act, a federal law that compels hospitals receiving federal funds to provide emergency medical care.It seeks a preliminary and permanent injunction against the state law. It also asks a court to bar Idaho from criminalizing doctors or stripping them of their medical licenses if they perform an emergency abortion.Register now for FREE unlimited access to Reuters.com""Today, the Justice Department's message is clear... if a patient comes into the emergency room with a medical emergency jeopardizing the patient's life or health, the hospital must provide the treatment necessary to stabilize that patient,"" U.S. Attorney General Merrick Garland said at a news conference in Washington announcing the filing.""This includes abortion, when that is the necessary treatment,"" Garland added.In a statement on Twitter, Idaho Republican Governor Brad Little accused the Justice Department of interfering with state sovereignty and called it ""another example of (President Joe) Biden overreaching yet again.""""Here in Idaho, we are proud that we have led the country in protecting preborn lives,"" he said.The Idaho State Capitol building is seen in Boise, Idaho, U.S., October 29, 2021. REUTERS/Shannon StapletonThe lawsuit comes just one day before the Idaho Supreme Court is due to hear arguments on the legality of the Idaho state law, which is due to take effect on Aug. 25.The law would make it a felony to perform an abortion in most circumstances, with limited exceptions.Associate Attorney General Vanita Gupta said at a press conference on Tuesday that the law ""places the burden on physicians to prove at trial, following arrest and indictment, that they are not criminally liable.""The Supreme Court's 6-3 ruling on June 24 to overturn Roe v. Wade, which gave women the constitutional right to abortion care, has sent legal shock waves across the country.About half of the 50 U.S. states have or are expected to seek to ban or curtail abortions. Those states include Idaho, which like 12 other states adopted ""trigger"" laws banning or restricting abortion upon such a decision. read more Idaho also separately in March became the first state to enact a six-week abortion ban modeled on a Texas law that empowers private citizens to sue abortion providers.In mid-July, the Justice Department announced it was starting a task force to monitor and evaluate state legislation and enforcement actions that threaten to ""infringe on federal legal protections"" related to reproductive healthcare.On Tuesday, Garland told reporters that the task force received many reports about women who are having trouble accessing reproductive healthcare. The department is evaluating them to determine if further litigation is necessary, he added.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch and Doina Chiacu; Additional reporting by Nate Raymond in Boston; Editing by Jonathan Oatis and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.",Abortion ban in Idaho faces first U.S. legal challenge since Roe.
"U.S. August 2, 2022 / 5:44 PM / CBS/AP A Utah man has been arrested for allegedly starting a wildfire while trying to burn a spider with his lighter. Cory Allan Martin, 26, told deputies that he spotted the spider Monday while he was in a hiking area in the foothills south of Salt Lake City near the city of Springville, according to a probable cause statement. He acknowledged starting the fire, but didn't explain why he was trying to burn the spider. Deputies found a jar of marijuana in his belongings, but he didn't appear to be high, said Utah County Sheriff's Sgt. Spencer Cannon. There is no evidence to suggest he intentionally started the blaze, said Cannon, but he called it a reckless and puzzling decision. This area and most of Utah are bone dry amid extreme drought conditions. ""What led him to stop and notice a spider and decide to try to burn it, we don't know,"" Cannon said. ""There may not be a why. He might not even know a why."" The wildfire has burned at least 60 acres and was 90% contained as of Tuesday afternoon, according to state fire officials. No homes have been damaged.   #springvillefire Firefighters have updated containment to 90%. This incident will be turned over to a Type 4 incident command, at 4:00PM today. This will be a Type 2, I/A crew #41. @UWCNF #usfsst pic.twitter.com/ZX7Y4Ld0cU— Utah Fire Info (@UtahWildfire) August 2, 2022 Martin was arrested on suspicion of reckless burn and possession of marijuana and drug paraphernalia, court documents show. He was in the Utah County jail Tuesday on nearly $2,000 bail. It was unknown if he had an attorney.There are several wildfires burning across the Western U.S. amid hot, dry conditions. The McKinney Fire in Northern California has scorched at least 55,000 acres and destroyed more than 100 homes since sparking July 29. At least four people have died in the blaze.  In: Wildfire Utah Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Man arrested for allegedly sparking wildfire while trying to burn a spider.
"The Covid-19 pandemic resulted in an increase in people looking for love on dating platforms such as Match Group's Tinder app.Beata Zawrzel | NurPhoto | Getty ImagesMatch Group shares tumbled 22% in extended trading on Tuesday after the dating site reported second-quarter revenue that missed analyst expectations and issued weaker-than-expected guidance.Here's how the company did.Revenue: $795 million vs. estimate of $804 million, according to RefinitivEarnings: 52 cents per shareMatch, whose properties include Tinder, OkCupid and Hinge, said revenue grew 12% from a year earlier.In addition to trailing estimates for the second quarter, Match also gave a forecast for the third quarter of $790 to $800 million, which would result in no growth for the period and is well below analysts' estimates. The company said its forecast includes a hit from foreign exchange rates.Match said it saw weakness in its live streaming business and in Japan, which ""has yet to show meaningful recovery following the lifting of Covid restrictions,"" according to the shareholder letter.The company also said that in the second half of 2021, its business benefited from the availability of Covid-19 vaccines and increased social activity.""We are not seeing a similar surge of activity in 2022,"" the company said.The number of paid users increased 10% to 16.4 million, and revenue per payer rose 3% to $15.86.Revenue at Tinder grew 13%. A litigation settlement related to Tinder led to a $441 million payment and negative free cash flow of $7 million.Match's stock price is down 42% of its value year to date, prior to the after-hours slump.WATCH: Time to swipe right on dating app stocks?",Match shares plunge more than 20% after online dating company misses on revenue and forecast.
"Brendan McDermid | ReutersDow Jones Industrial Average futures were higher on Tuesday evening after the three major averages fell for a second consecutive day.Futures tied to the Dow added 64 points, or 0.2%. S&P 500 futures gained 0.1% and Nasdaq 100 futures were flat.In regular hours trading, House Speaker Nancy Pelosi's controversial visit to Taiwan weighed on investors, who worried it would further strain already tense U.S.-China relations. China had spent weeks warning her not to make the trip. Markets fell further after three Federal Reserve presidents hinted that further rate hikes would be necessary to combat high inflation.""Despite the fact most of today's attention is still riveted on the Federal Reserve and its ongoing fight to bring inflation under control, many economic policies have already embarked on a new easing cycle,"" said the Leuthold Group's Jim Paulsen. ""The prospect of lower inflation is not only helping to usher in a new easing cycle but is apt to stoke a private-sector confidence revival that has untapped potential.""Traders are also anticipating another batch of second quarter earnings. CVS, Regeneron, Under Armour and Moderna will report before the bell Wednesday.In economic data, investors this week are awaiting mortgage demand numbers and PMI data out Wednesday.",Dow futures gain slightly after the three major averages notched a second day of losses.
"Taiwan Foreign Minister Joseph Wu welcomes U.S. House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan August 2, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSEOUL, Aug 3 (Reuters) - North Korea's foreign ministry on Wednesday criticised what it called U.S. ""imprudent interference"" in China's internal affairs over House of Representatives Speaker Nancy Pelosi's visit to Taiwan, the official KCNA said.Pelosi arrived in Taiwan late on Tuesday on a trip she said shows an unwavering American commitment to the Chinese-claimed self-ruled island, but China condemned the highest-level U.S. visit in 25 years as a threat to peace and stability in the Taiwan Strait. read more A North Korean foreign ministry spokesperson said they ""vehemently denounce"" any external force's interference in the issue of Taiwan and ""fully support"" China, its major ally and economic lifeline.""It is the due right of a sovereign state to take counter measures against the moves of the outside forces openly interfering in its internal affairs and destroying its territorial integrity,"" the unidentified official was quoted by KCNA as saying.China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.Register now for FREE unlimited access to Reuters.comReporting by Soo-hyang Choi; Editing by Chris Reese and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.",North Korea denounces U.S. 'interference' over Pelosi's Taiwan visit.
"SummaryPelosi: world faces choice between autocracy, democracyChinese warplanes buzz Taiwan Strait dividing lineOutraged China plans ""targeted military operations""White House does not want a crisisTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan late on Tuesday on a trip she said shows an unwavering American commitment to the Chinese-claimed self-ruled island, but China condemned the highest-level U.S. visit in 25 years as a threat to peace and stability in the Taiwan Strait.Pelosi and the rest of her delegation disembarked from a U.S. Air Force transport plane at Songshan Airport in downtown Taipei after the nighttime landing on a flight from Malaysia to begin a visit that risks pushing U.S.-Chinese relations to a new low. They were greeted by Taiwan's foreign minister, Joseph Wu, and Sandra Oudkirk, the top U.S. representative in Taiwan.Her arrival prompted a furious response from China at a time when international tensions already are elevated by Russia's invasion of Ukraine. China considers Taiwan part of its territory and has never renounced using force to bring it under its control. The United States warned China against using the visit as a pretext for military action against Taiwan.Register now for FREE unlimited access to Reuters.com""Our congressional delegation's visit to Taiwan honors America's unwavering commitment to supporting Taiwan's vibrant democracy,"" Pelosi said in a statement shortly after landing. ""America's solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy."" read more Pelosi, second in the line of succession to the U.S. presidency, is a long-time China critic.Taiwan's President Tsai Ing-wen will meet with Pelosi on Wednesday morning and then have lunch together, the presidential office said. Pelosi, travelling with six other American lawmakers, became the most-senior U.S. political leader to visit Taiwan since 1997. read more China's foreign ministry said it lodged a strong protest with the United States, saying Pelosi's visit seriously damages peace and stability in the Taiwan Strait, ""has a severe impact on the political foundation of China-U.S. relations, and seriously infringes upon China's sovereignty and territorial integrity.""Chinese warplanes buzzed the line dividing the Taiwan Strait before her arrival. The Chinese military has been put on high alert and will launch ""targeted military operations"" in response to Pelosi's visit, the defence ministry said.The Chinese military announced joint air and sea drills near Taiwan starting on Tuesday night and test launches of conventional missiles in the sea east of Taiwan, with Chinese state news agency Xinhua describing live-fire drills and other exercises around Taiwan from Thursday to Sunday. read more Pelosi is on an Asia tour that includes announced visits to Singapore, Malaysia, South Korea and Japan. Her Taiwan visit was unannounced but widely anticipated.In a Washington Post opinion piece released after landing, Pelosi explained her visit, praising Taiwan's commitment to democratic government while criticizing China as having dramatically increased tensions with Taiwan in recent years.""We cannot stand by as the CCP proceeds to threaten Taiwan - and democracy itself,"" Pelosi said, referring to the Chinese Communist Party.Pelosi also cited China's ""brutal crackdown"" on political dissent in Hong Kong and its treatment of Muslim Uyghurs and other minorities, which the United States has deemed genocide.As Pelosi's motorcade approached her hotel, escorted by police cars with flashing red and blue lights, scores of supporters cheered and ran toward the black vehicles with their arms outstretched and phone cameras on. The motorcade drove straight into the hotel's parking lot.Taiwan Foreign Minister Joseph Wu welcomes U.S. House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan August 2, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS On Tuesday night, Taiwan's tallest building, Taipei 101, lit up with messages including: ""Welcome to Taiwan"", ""Speaker Pelosi"" and ""Taiwan (heart) USA"".WHITE HOUSE REACTSWhite House national security spokesman John Kirby said after Pelosi's arrival that the United States ""is not going to be intimidated"" by China's threats or bellicose rhetoric and that there is no reason her visit should precipitate a crisis or conflict.""We will continue to support Taiwan, defend a free and open Indo-Pacific and seek to maintain communication with Beijing,"" Kirby told a later White House briefing, adding that the United States ""will not engage in sabre-rattling.""Kirby said China might engage in ""economic coercion"" toward Taiwan, adding that the impact on American-Chinese relations will depend on Beijing's actions in the coming days and weeks.Pelosi, 82, is a close ally of U.S. President Joe Biden, both being members of the Democratic Party, and has helped guide his legislative agenda through Congress.Four sources said Pelosi is also scheduled on Wednesday to meet activists outspoken about China's human rights record.The United States has no official diplomatic relations with Taiwan but is bound by American law to provide it with the means to defend itself. China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Taiwan rejects China's sovereignty claims, saying only the Taiwanese people can decide the island's future.Several Chinese warplanes flew close to the median line dividing the Taiwan Strait on Tuesday morning before leaving later in the day, a source told Reuters. Several Chinese warships also sailed near the unofficial dividing line since Monday and remained there, the source said.Taiwan's defence ministry said 21 Chinese aircraft entered its air defence identification zone on Tuesday, and that China was attempting to threaten key ports and cities with drills around the island. Taiwan's armed forces have ""reinforced"" their alertness level, it added.Taylor Fravel, a Massachusetts Institute of Technology expert on China's military, said China's planned exercises appear as though they may be greater in scope than during a Taiwan Strait crisis in 1995 and 1996.""Taiwan will face military exercises and missile tests from its north, south, east and west. This is unprecedented,"" Fravel said.Four U.S. warships, including the aircraft carrier USS Ronald Reagan, were positioned in waters east of Taiwan on what the U.S. Navy called routine deployments.Russia, locked in confrontation with the West over its Ukraine invasion, condemned Pelosi's visit. Foreign ministry spokeswoman Maria Zakharova called the United States ""a state provocateur.""Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu, and Fabian Hamacher in Taipei, Yew Lun Tian and Ryan Woo in Beijing, Brenda Goh in Shanghai, and Nandita Bose and Patricia Zengerle in Washington; Writing by Tony Munroe and Michael Martina; Editing by Will Dunham, Angus MacSwan and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.",Pelosi arrives in Taiwan vowing U.S. commitment; China enraged.
"Soccer Football - Women's Euro 2022 - Final - England v Germany - Wembley Stadium, London, Britain - July 31, 2022 German Chancellor Olaf Scholz in the stands before the match REUTERS/Lisi NiesnerRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 2 (Reuters) - A Nord Stream 1 gas turbine that has become the focus of a deepening energy row with Russia is in Germany after undergoing maintenance in Canada, and German Chancellor Olaf Scholz will visit it on Wednesday, Siemens Energy said.Russia has cited problems with the turbine as the reason for cutting gas supply via Nord Stream 1 - its main gas link to Europe.Siemens Energy said Scholz would visit its site at Muelheim an der Ruhr, in northwestern Germany, on Wednesday.Register now for FREE unlimited access to Reuters.com""He (Scholz) will, together with our CEO Christian Bruch, take a look at the turbine serviced in Canada for the Nordstream 1 gas pipeline, which is ready for onward transport to Russia,"" Siemens Energy said in an invitation to the event.A senior manager at Russian gas giant Gazprom (GAZP.MM) said last week that delivery of the turbine to Germany from Canada after the maintenance work had been completed was not in line with the contract. Its exact whereabouts since then had been unclear. read more The European Union disputes arguments by Russia and Gazprom that turbine problems are to blame for the sharp drop in supply through the pipeline that links Russia to Germany under the Baltic Sea.The shortfall has raised the risk of shortages and gas rationing in Europe this winter.Register now for FREE unlimited access to Reuters.comReporting by Alexander Huebner and Christoph Steitz
Writing by Madeline Chambers. Editing by Jane Merriman, Victoria Waldersee and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.",Scholz to visit Nord Stream 1 gas turbine in Germany.
"WASHINGTON -- House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday night, kicking off a controversial visit that had already strained the testy relationship between Beijing and Washington before it even began.China has spent weeks warning Pelosi not to come to the disputed territory, which Beijing considers a province of China, but which considers itself an independent nation.These warnings escalated into actions during the hours ahead of Pelosi's arrival, which marked the first time in 25 years that an American House speaker has visited Taiwan. The visit will reportedly last almost 24 hours.Hua Chunying, China's assistant minister of foreign affairs, said in a string of tweets Tuesday that Pelosi's visit to Taiwan was a ""major political provocation.""On Tuesday, China reportedly levied new import bans on more than 100 Taiwanese products, an apparent effort to impose a quick economic cost on Taipei for its role in Pelosi's high-profile visit.The Chinese military also flexed its muscle by holding live-fire exercises all day Saturday, just 80 miles from Taiwan.On Tuesday, as Pelosi's visit drew near, the People's Liberation Army deployed fighter jets to the Taiwan Strait that flew very close to the center line of the strait, which is rarely crossed.As Pelosi landed Tuesday night, Chinese state-affiliated media announced that more live-fire exercises would be conducted over the coming weekend -- notably, after Pelosi has left the area.For China experts, these military drills and bellicose public statements come as little surprise.""This is just something they have to do,"" said Andrew Mertha, director of the China Global Research Center at the Johns Hopkins School of Advanced International Studies.""I would frankly be very surprised if Beijing does anything physically threatening in any meaningful way. I mean, it's not out of the question, but I would really be surprised,"" he said in an interview with CNBC.""What is likely to happen is some sort of subsequent actions to demonstrate that China can do something if it wants to,"" said Mertha. ""And that will be something as much for the domestic audience within China as for the international one.""Later this year, Chinese leader Xi Jinping is expected to begin an unprecedented third term as leader of the Chinese Communist Party.Xi's need to consolidate public support and power within his party are the lens through which we should be looking at China's geopolitical actions, diplomats and experts say.And this is exactly what makes Pelosi's visit so provocative.After weeks of Pelosi refusing to confirm or deny or discuss the Taiwan visit, The Washington Post published a scathing op-ed by Pelosi just as she landed Tuesday.Taiwan, she wrote, ""is under threat"" from Beijing, which she painted as an existential danger to free people everywhere.""We take this trip at a time when the world faces a choice between autocracy and democracy,"" she said. ""We cannot stand by as the CCP proceeds to threaten Taiwan — and democracy itself.""""Our congressional delegation's visit should be seen as an unequivocal statement that America stands with Taiwan, our democratic partner, as it defends itself and its freedom.""But while Pelosi's op-ed was aimed squarely at Xi, this is not the same strategy that President Joe Biden, her fellow Democrat, has chosen to pursue.Biden's approach to China is one that seeks to maintain a stable, predictable relationship with America's biggest trading partner, while also acknowledging that Washington and Beijing are strategic adversaries.Officially, the Biden administration was careful in recent weeks to avoid directly saying whether the president agreed with Pelosi's decision to visit Taiwan. But unofficially, the White House and the Pentagon made little secret of their opposition to it.",China ratchets up military and economic pressure on Taiwan as Pelosi begins her visit.
"Chris Stowers | Bloomberg | Getty ImagesAMD reported results for the quarter ending in June that beat estimates for profit and revenue, but the chipmaker gave a forecast for the current quarter that trailed Wall Street expectations.AMD stock fell 5% in extended trading.Here's how the company did:EPS: $1.05, adjusted, versus $1.03 expected, according to RefinitivRevenue: $6.55 billion, versus $6.53 billion expected, according to RefinitivThe chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.AMD currently has a significant market opportunity as its primary rival for PC and server processors, Intel, stumbles with execution.AMD's chips have surpassed Intel's in terms of performance, and investors are looking to see if the company has the supply and execution to take market share.All four of AMD's major segments grew during the quarter, in which overall revenue rose 70% on a year-over-year basis.AMD said that data center sales rose 83% year-over-year to $1.5 billion. The segment includes chips for cloud computing and large enterprise customers. AMD said the growth was because of strong sales for server processors and that the company doesn't see a slowdown in demand for these chips. Client segment revenue, which is comprised of PC and laptop chip sales, rose 25% to $2.2 billion during the quarter despite signs that computer sales have been slowing at the end of a two-year pandemic-fueled boom. AMD said the growth was attributable to mobile processor sales, likely for laptops.However, AMD CEO Lisa Su said she saw declines in the current quarter for the PC business.""We have taken a more conservative outlook on the PC business, so a quarter ago we would have thought that the PC business would be down let's call it high-single digits,"" Su said. ""Our current view of the PC business is that it will be down mid-teens.""Su said that AMD believes it is taking market share in the server and PC markets on a call with analysts.""I think we do feel like we're in a share gain position,"" Su said. Sales of chips for consoles like the Playstation 5 and Xbox Series X were also a highlight for AMD during the quarter. Gaming segment sales rose 32% year-over-year to $1.7 billion, driven by sales growth in ""semi-custom"" chips for consoles. However, graphics processors for gaming PCs declined during the quarter.AMD's embedded segment, which includes chips for networking or cars, reported $1.3 billion in sales, was boosted by AMD's acquisition of Xilinx, which was completed in the first quarter.AMD stock is down 31% so far in 2022 as investors have been selling fast-growing semiconductor stocks in the face of inflation and recession fears.AMD said it repurchased $920 million of its stock during the second quarter.","AMD beats on earnings and revenue, but third-quarter forecast comes in light."
"Formula One F1 - Spanish Grand Prix - Circuit de Barcelona-Catalunya, Barcelona, Spain - May 19, 2022 Alpine's Oscar Piastri ahead of the Spanish Grand Prix REUTERS/Nacho DoceRegister now for FREE unlimited access to Reuters.comSummaryCompaniesAlpine announce Piastri as 2023 driverPiastri says he will not drive for AlpineConfusion over contractsDrama calls into question Ricciardo at McLarenAug 2 (Reuters) - Australia's rising star Oscar Piastri ruled out racing for Renault-owned Alpine on Tuesday amid contract confusion only hours after he had been announced in the Formula One team's 2023 driver lineup.The 21-year-old, Alpine's reserve and last year's Formula Two champion, was set to replace double world champion Fernando Alonso when the Spaniard joins Aston Martin at the end of the season on a multi-year deal. read more Alonso's announcement on Monday, the first day of the sport's August break, had come as a surprise but that was eclipsed by the drama and intrigue that followed.Register now for FREE unlimited access to Reuters.comAlpine's statement strangely lacked a quote from Piastri -- who finally broke his silence on social media by making clear he had other plans.""I understand that, without my agreement, Alpine F1 have put out a press release late this afternoon that I am driving for them next year,"" he said.""This is wrong and I have not signed a contract with Alpine for 2023. I will not be driving for Alpine next year.""Media reports suggested the Australian, managed by former F1 racer Mark Webber, had signed a pre-contract with McLaren -- a team that officially does not have a vacancy but might be creating one.Alpine principal Otmar Szafnauer was asked about that in a Zoom call with reporters on Tuesday.""We do have a legal contract with him (Piastri) into the future for '23. And if an option is taken up, for '24,"" he said.""I don't know what he's done with McLaren... I'm not privy to that.""Piastri had previously been linked to Williams, but that was as a loan deal on the understanding that he would return to Alpine when Alonso left.There was no comment from McLaren, who are battling Alpine for fourth place in the constructors' championship, and Piastri's management could not be contacted immediately.McLaren have Daniel Ricciardo and Britain's Lando Norris but the experienced Australian has been performing below expectations and his place called into question.Ricciardo, who joined McLaren from the Renault team that is now Alpine, has insisted he is staying and has an option on his side.Formula One has a contracts recognition board to settle disputes between teams over drivers and the matter could end up there.Alpine, as part of a major manufacturer, are unlikely to have taken the step of announcing a driver without feeling confident, however.""We believe we are legally correct in our statement,"" the team said, without further comment.There was an air of uncertainty and mis-communication, however, with Szafnauer telling reporters he found out about Alonso's move only when he read Aston Martin's press release. read more Asked whether he had spoken to Alonso, Szafnauer replied: ""I haven't talked to him, since he's on a boat, I think, in the Greek Isles somewhere.""Alonso then posted on Instagram a video of himself walking in his home town of Oviedo in northern Spain. He also tweeted a picture of a go-kart at his museum track with the caption 'favourite activity on holidays"".The dispute echoes another ongoing contract clash between McLaren and Chip Ganassi Racing in IndyCar over reigning champion Alex Palou.Spaniard Palou announced last month that he will be joining McLaren's roster of drivers for 2023, hours after Ganassi said he was staying with them.Register now for FREE unlimited access to Reuters.comAdditional reporting by Manasi Pathak in Bengaluru; Editing by Frank Jack Daniel, Pritha Sarkar and Toby DavisOur Standards: The Thomson Reuters Trust Principles.",Piastri rejects Alpine F1 seat amid contract confusion.
"World August 2, 2022 / 2:30 PM / CBS/AFP We leave you this Sunday swimming among blue sharks off the coast of Rhode Island Nature: Blue sharks 02:51 A snorkeler off the coast of southern England has suffered a suspected shark bite, officials said on Tuesday, in what appears to be an extremely rare incident.The Maritime and Coastguard Agency said it sent a rescue team to Penzance in Cornwall ""to meet a snorkeler who suffered a suspected shark bite"" after the accident was reported last Thursday. Local media reported the snorkeler was a woman.""It is believed the swimmer suffered a leg injury,"" the coastguard service said, adding that the snorkeler had been treated by the ambulance service. A Cornish tour agency that arranges snorkel trips to watch blue sharks confirmed a participant had received first aid after an ""incident.""Blue sharks, which grow to nearly 13 feet long, are summer visitors to U.K. waters. They are hunters, which migrate through oceans, eating fish and shellfish. The blue shark is classed as ""near threatened"" by the International Union for Conservation of Nature because it is hunted for its flesh and fins and also gets caught accidentally in fishing nets. A blue shark is pictured in this undated file photo. Auscape/Universal Images Group via Getty Images Blue Shark Snorkel Trips, based in Penzance, wrote on Facebook, ""We have had an incident.""""First aid (was) carried out on the person involved.""""Following advice and assessment from the coastguard, the person walked off the boat and received further treatment ashore,"" it added. The person injured was not named, but the company quoted them as saying it was a ""very scary incident."" However, the person added, ""I don't for a second want this freak event to tarnish the reputation of an already persecuted species.""""These occurrences are extremely rare,"" the company said.It takes snorkelers to swim with blue sharks 10 to 20 miles offshore, according to its website.It warns that blue sharks are ""apex predators"" with no natural predators and participants ""swim with them knowing there is a risk.""Blue shark attacks on humans are extremely rare, according to the British Sea Fishing website. There are four confirmed cases of fatal blue shark attacks on humans and 25 confirmed non-fatal attacks, the website says.Shark attacks increased around the world in 2021 following three consecutive years of decline, officials said in January. The U.S. once again reported the most attacks and Florida accounted for nearly 40% of unprovoked bites worldwide.  Researchers with the International Shark Attack File recorded 73 unprovoked incidents last year, compared to 52 bites in 2020, according to the report.  In: Shark Attack United Kingdom Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Snorkeler injured in suspected shark attack off English coast: ""Very scary incident""."
"The Occidental Petroleum Corp headquarters is pictured in Los Angeles, California September 16, 2013. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Occidental Petroleum Corp (OXY.N) posted a rise in second-quarter profit, paid down debt and resumed a buyback program as the U.S. producer benefited from higher crude prices.The company's net earnings attributable to common stockholders were $3.6 billion, or $3.47 per share, in the second quarter, compared with a $97 million loss, or $0.10 per share, in the same period last year.The company reduced its gains from the first quarter, when it posted $4.7 billion in profits, or $4.65 per share.Register now for FREE unlimited access to Reuters.comOccidental has recovered from loading up on debt to buy Anadarko Petroleum for $35.7 billion just before COVID-19 pandemic cratered oil demand. It paid down almost $5 billion in debt and achieved its internal deleveraging goal, opening the door for a $3 billion share repurchase program to begin.Occidental repurchased $1.1 billion through Aug. 1, it said.The U.S. producer said Warren Buffett's Berkshire Hathaway Inc (BRKa.N) has now a 19.5% stake in Occidental, below the threshold where it could record some of the oil company's earnings with its own. read more .If it reached 20% ownership, Berkshire could potentially report its proportionate share of Houston-based Occidental's earnings through the so-called equity method of accounting, potentially adding billions of dollars to annual profit.The company's share price has more than doubled this year to $65.06 on Tuesday, with the company benefiting from rising oil prices following Russia's invasion of Ukraine.The rally made some investment firms, including Goldman Sachs, in the past weeks downgrade the company recommendation, saying its potential for cash generation is already reflected in the price.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle in Houston and Ruhi Soni in Bengaluru; Editing by Maju Samuel and Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.","Occidental Petroleum posts $3.6 bln profit, resumes buybacks."
"1,172 episodes Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to deliver the actionable news that matters most to investors. Fast Money airs weeknights at 5p ET on CNBC. Visit http://fastmoney.cnbc.com for additional information. Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to deliver the actionable news that matters most to investors. Fast Money airs weeknights at 5p ET on CNBC. Visit http://fastmoney.cnbc.com for additional information. AUG 1, 2022 The Biggest Risk to the Market? One of Our Traders Says It’s *NO* Recession 8/01/22 The Biggest Risk to the Market? One of Our Traders Says It’s *NO* Recession 8/01/22 Markets have already priced in a recession, but what happens if we don’t get one? Will we get a more aggressive Fed down the road? Our traders break down the possibilities. Plus earnings from Pinterest and Simon Property, and a potentially historic trip for House Speaker Nancy Pelosi. JUL 29, 2022 Stocks Round Out Best Month Since 2020, But Can the Momentum Continue 7/29/22 Stocks Round Out Best Month Since 2020, But Can the Momentum Continue 7/29/22 The S&P jumped more than 9% in July, the Nasdaq up over 12%, and some individual stocks saw gains much bigger than that. So with Big Tech earnings and the Fed now behind us, can the momentum continue in August? Plus a look at some of the names that didn’t fare so well recently, and breaking down next week’s big earnings reports. JUL 28, 2022 Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22 Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22 Two of the biggest companies in the world reported earnings after the bell. The traders break down what the reports say about the consumer, the economy and inflation. Plus U.S. GDP fell for a second straight quarter. Whether that amounts to a recession or not, it’s having a big impact on the stock markets. We dive into how to play the moves. JUL 27, 2022 All Eyes on Meta, Ford and the Fed 7/27/22 All Eyes on Meta, Ford and the Fed 7/27/22 Shares of Meta and Ford both on the move after the companies’ latest earnings reports. We break down the numbers and bring you all the trades. Plus the Fed raised rates and by 75 basis points for the second straight meeting, but said the pace of rate hikes could slow. That sent stocks higher, and gave the Nasdaq its best day since April 2020. Was that the green light for the growth trade? JUL 26, 2022 : Big Tech Earnings Week Gets Underway with Alphabet and Microsoft 7/26/22 : Big Tech Earnings Week Gets Underway with Alphabet and Microsoft 7/26/22 The busiest week of Q2 earnings season kicks off with reports from two of the biggest names in tech. We break down the results at get a look at what you should expect from the names still to come. Plus, the Fed expected to raise rates by another 75 basis points tomorrow, as the Biden administration tries to shoot down talk of a recession. What it all means for the markets. JUL 25, 2022 The Reports That Hold the Key to Earnings Season, and the NFL’s Big Move Into Streaming 7/25/22 The Reports That Hold the Key to Earnings Season, and the NFL’s Big Move Into Streaming 7/25/22 From the dollar to inflation to supply chain, the busiest week of this earnings season could give a lot of important reads on the market. The traders break down what they’re hoping to hear. Plus, details on the new NFL+ streaming service and what it means for the sector. Customer Reviews 3.9 out of 5 1.1K Ratings Great if you miss the show I listen to this and Half-Time Report regularly. Melisa Lee is great. I think she is very good at facilitating. Can you please upload your episodes in a timely fashion like Mad Money or Half Time does? As title shows Guest Guy is so rude Show director should correct Guy Dami’s behavior! Or just remove him out!!! Stop letting him bullying host Mel! So arrogant! Again and again! Plus, he is always wrong and useless! Let’s just remove him out! Let’s see if CNBC needs him or he relies on CNBC! Who does he think he is! Too Ugly behavior on TV! Top Podcasts In Business You Might Also Like More by CNBC","‎CNBC's ""Fast Money"" on Apple Podcasts."
"Airbnb logo and stock graph are seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Vacation rental Airbnb Inc (ABNB.O) forecast current-quarter bookings at par with the previous quarter, disappointing investors who had expected accelerated growth thanks to summer demand and sending shares down 7%.Booking rates slowed in May and June from April, the company said.However, it posted a 58% rise in quarterly revenue thanks to early bookings in April by travelers across Europe and North America looking to visit their favorite tourist spots both domestic and international.Register now for FREE unlimited access to Reuters.comThe rental firm also announced a $2 billion share buyback, its first since going public.The San Francisco-based company expects current-quarter revenue between $2.78 billion and $2.88 billion, higher than analysts' estimates of $2.77 billion, according to Refinitiv IBES.It reported a net profit of $379 million, or 56 cents per share, ahead of analysts' estimates of 43 cents per share.Register now for FREE unlimited access to Reuters.comReporting by Aishwarya Nair in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.","Airbnb's moderate bookings forecast disappoints investors, shares slide."
"MoneyWatch August 2, 2022 / 5:02 PM / MoneyWatch Popular trading app Robinhood on Tuesday said it is cutting 780 employees, or about 23% of its full-time staff, amid a slump in transactions and ongoing losses. Robinhood said its transaction-based revenue — money it earns when customers trade stocks, options or cryptocurrencies — plunged from a year earlier, when many retail investors piled into on ""meme stocks"" and asset values were high. Revenue from transactions at the company more than halved to $202 million in the quarter ended June 30, compared with $451 million a year earlier. Robinhood's stock has shed about 50% of its value so far this year; it fell 2.3% after markets closed Tuesday to $9.92.  The cuts mark the second round of layoffs this year for Robinhood, which previously shed 9% of its workers, as its business copes with a decline in equities and a ""crypto winter"" that decimated the value of many cryptocurrencies. In a blog post on Tuesday, Robinhood CEO Vlad Tenev blamed ""inflation at 40-year highs accompanied by a broad crypto market crash"" for the company's financial woes. ""This has further reduced customer trading activity and assets under custody,"" he wrote on Tuesday. Tenev said employees across the company will be impacted by the layoffs, but that the cuts will be focused in Robinhood's operations, marketing and program management groups.",Robinhood slashes 23% of its workforce amid trading slump.
"A sign is posted outside of the PayPal headquarters in San Jose, California.Justin Sullivan | Getty ImagesCheck out the companies making headlines in extended trading.Match Group — Shares of the dating app operator tumbled as much as 23% after the company reported revenue of $795 million for the second quarter, compared with FactSet estimates of $803.9 million. Match also issued weak guidance around adjusted operating income and revenue for the current quarter.Solaredge Technologies - The solar-power stock tanked nearly 13% in after-hours trading following disappointing quarterly results. Solaredge reported an EPS of 95 cents, below analysts' expectation of 88 cents per share, according to FactSet. Revenue also came in shy of estimates.PayPal — The payments giant's shares soared 11% after hours following stronger-than-expected second-quarter results and an increase in its forecast. PayPal also revealed it has entered into an information-sharing agreement with Elliott Management.SoFi — Shares climbed more than 7% after the personal finance company reported a beat on the top and bottom lines. ""While the political, fiscal, and economic landscapes continue to shift around us, we have maintained strong and consistent momentum in our business,"" SoFi CEO Anthony Noto said in a statement.Airbnb — Shares of Airbnb fell about 10% in extended trading after the vacation home rental company posted weaker-than-expected revenue for the second quarter. The company also reported more than 103 million booked nights and experiences, the largest quarterly number ever for the company but short of StreetAccount estimates of 106.4 million.Advanced Micro Devices — AMD's shares fell nearly 5% despite reporting strong quarterly earnings and revenue, after the chipmaker issued a weaker-than-anticipated third-quarter forecast. The chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.Caesars Entertainment — The casino company lost about 2% after it reported a quarterly loss of 57 cents per share, which was 74 cents lower than analysts had expected. It also reported a Caesars Digital loss of $69 million, compared with $2 million for the comparable prior-year period.Robinhood — Robinhood slid about 2% after reporting it will cut its headcount by some 23%, after previously laying off 9% in April, and posting a decline in monthly active users and assets under custody for the second quarter. The investing app operator released its results a day ahead of schedule.Starbucks — The coffee chain saw shares edge higher by more than 2% after it reported better-than-expected quarterly results, despite lockdowns in China weighing on its performance. Within the U.S., however, net sales rose 9% to $8.15 billion and same-store sales grew 3%.— CNBC's Sarah Min and Yun Li contributed reporting.","Stocks making the biggest moves after hours: PayPal, Airbnb, MatchGroup, Caesars and more."
"Al Qaeda leader Ayman al-Zawahiri, who was killed in a CIA drone strike in Afghanistan over the weekend according to U.S. officials, appears in an undated FBI Most Wanted poster. FBI/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Two Hellfire missiles fired from a drone killed the leader of al Qaeda, causing surprisingly little damage beyond the target, suggesting they may be a version of the missile shrouded in secrecy and used by the United States to avoid non-combatant casualties.Officials said the missiles killed al Qaeda leader Ayman al-Zawahiri while he stood on a balcony at his home in downtown Kabul, Afghanistan, over the weekend in the biggest blow to the militants since Osama bin Laden was killed in 2011. read more A senior administration official told reporters two Hellfire missiles were fired from an unmanned aerial vehicle at Zawahiri. U.S. officials said no one else was killed or wounded in the attack.Register now for FREE unlimited access to Reuters.comU.S. officials said the CIA was responsible for the strike. The agency declined to comment. read more Hellfire missiles, mostly made by Lockheed Martin (LMT.N), are precision guided munitions for air-to-ground strikes that normally cause significant damage, taking down whole buildings and killing or severely injuring anyone nearby.Social media images of the strike pointed to the hallmarks of a modified Hellfire called the R9X with six blades to damage targets, sources familiar with the weapon said. It is largely aimed at individual targets, such as militants in Syria.The images showed windows destroyed on the second floor while the structure of the house remained intact despite being hit by Hellfires.More than 29 entities have Hellfire missile, but very little is acknowledged or publicly known about the modified version.Officials believe the R9X is less likely to cause civilian casualties because instead of exploding, the missile cuts through targets with the sharp blades.The MQ-9 Reaper, made by General Atomics, is the only drone that is publicly known to carry the Hellfire missile.A Pentagon spokeswoman referred a query on the R9X missiles to U.S. Special Operations Command, which would be the prime purchaser of the missile and had no immediate comment.Register now for FREE unlimited access to Reuters.comReporting by Mike Stone and Idrees Ali in Washington; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Little-known modified Hellfire missiles likely killed al Qaeda's Zawahiri.
"Signs of AMD are seen at the China Digital Entertainment Expo and Conference, also known as ChinaJoy, in Shanghai, China July 30, 2021. REUTERS/Aly Song GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Advanced Micro Devices Inc (AMD.O) on Tuesday forecast third-quarter revenue slightly below Wall Street estimates, and the chip designer's shares fell 5%.The company expects revenue of $6.7 billion, plus or minus $200 million, for the current quarter compared to analysts' estimate of $6.82 billion, according to IBES data from Refinitiv.Runaway inflation and the reopening of offices and schools have led people to spend less on personal computers (PCs) than they did during lockdowns, hurting companies like AMD, which is among the largest suppliers of central processing units (CPUs) and graphics processing units (GPUs) chipsets.Register now for FREE unlimited access to Reuters.comChipmakers also are under pressure from a spate of COVID curbs in China - an important PC market - and the Ukraine war, which have worsened supply-chain snarls and dragged demand further. Global shipments of PCs are expected to drop 9.5% this year, according to IT research firm Gartner. read more Those pressures led to lower-than-expected earnings and forecast from Intel Corp.(INTC.O) last week. read more ""In contrast to Intel's big miss last week, AMD actually delivered a solid quarter, solidifying its spot as an increasingly prominent player within both the high-performance PC and data center CPU market,"" said Jesse Cohen, senior analyst at Investing.com.YipitData research director Nathaniel Harmon said AMD has been gaining market share in the data center and cloud market at Intel’s expense, while Intel has been losing 1-2 percentage points of share each quarter since the first quarter of 2019.AMD expanded its full-year forecast to a range of $26 billion to $26.6 billion, compared to about $26.3 billion earlier. Analysts had forecast $26.18 billion.Second-quarter revenue jumped 70% to $6.55 billion, inching past analysts' estimate of $6.53 billion.Adjusted earnings for the second quarter was $1.05 per share, topping analysts' estimates by 2 cents.Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik in Bengaluru; Editing by Maju Samuel and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",AMD forecasts current-quarter revenue largely below estimates.
"We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. MoneyWatch: Managing Your Money August 2, 2022 / 2:02 PM / CBS News / Getty Images Credit cards are valuable financial tools that enable you to make purchases you can pay off over time. Some credit cards provide other valuable perks just for using them. In 2020, 83% of Americans owned at least one credit card, according to the Federal Reserve. Despite their popularity, credit cards can be confusing, leaving you with many questions. Let's answer your most frequently asked questions to help you understand how credit cards work and maximize their value. How do you open a credit card account? You can open a credit card account by filling out an application at a bank, credit union or online. You'll need to show that you're a U.S. resident over 18 with a Social Security number (SSN) or Individual Tax Identification Number (ITIN).  As part of the application process, you'll likely have to provide information about yourself, including your income and employment status. Typically, the credit card company will also want to pull your credit report to help them evaluate your creditworthiness before approving your application. Credit card basics for beginners Credit cards can help you build credit, among other benefits. If you're a first-time credit card user, establish positive habits like paying your bill on time and keeping your balances low to establish and grow your credit. Keep in mind, that your payment history accounts for 35% of your credit score, according to FICO. Similarly, your credit utilization ratio — the percentage of your credit limit you're using — makes up 30% of your credit score. So, if you have a $250 balance on a credit card with a $1,000 limit, your credit utilization ratio is 25%. It's widely recommended to keep your credit utilization below 30%, the lower, the better. High credit scorers tend to have credit utilization ratios below 10%. How do credit cards work? Unlike debit cards, which use money from your bank account, credit cards offer you a line of credit you can use for purchases, cash advances or balance transfers. In return, you must pay back the borrowed money over time. Each month, your card issuer will send you a billing statement, and you must make at least the minimum payment by the due date to remain in good standing. Bear in mind, that if you don't pay your balance in full each month before your due date, you'll incur interest charges on the remaining balance month to month. As a general rule, you should only charge what you can afford to pay off each month. How does interest work? Credit card companies charge interest on any balance you don't pay by the due date. When you carry a balance from month to month, the interest accrues every day based on what's known as the daily periodic rate (DPR). Your card issuer calculates your DPR by dividing your card's annual percentage rate (APR) by 365 for each day of the year. So if your card has an APR of 18%, your DPR would equal 0.049%. Remember, DPR is simply your daily interest charge that gets added to your previous day's balance. As such, your interest is compounding on a daily basis, which is how credit card balances can grow quickly. Although credit card interest accrues daily, the total amount of interest you owe is added to your monthly bill at the end of each billing cycle. However, you're not on the hook to pay the interest unless you don't pay your entire statement balance by your due date. At that point, the unpaid balance carries over to the next billing cycle, and the interest is applied to your purchases. 5 key features of a credit card Features can vary widely from credit card to credit card, but most cards share at least these five things:Grace period: The period of time from the date your statement is generated until your due date, during which your credit card issuer doesn't charge interest on purchases.Credit limit: The maximum amount you can charge as set by your card issuer.Interest rate: The price you pay for borrowing money, often stated as a yearly rate or annual percentage rate (APR).Fees: Many credit cards charge an annual fee to remain a cardholder. Credit card companies also charge fees for late payments, foreign transactions, balance transfers and cash advances. Rewards and benefits: Many credit cards offer ""points"" or ""miles"" you can redeem for cash, travel bookings or other benefits. What are credit card points? Points are one of the three main types of credit card rewards, together with miles and cash back. Points accumulate when you make purchases in specific categories. You can view and redeem your points for rewards through your card issuer's online portal. What are the different types of credit cards you can get? Many credit card companies offer a robust portfolio of credit cards designed to appeal to the varying interests of their cardholders.  Here are some of the different types of credit cards that are available:Cash back credit cards: These cards are ideal if you want to earn a percentage of your spending. Cash back rewards are often easier to redeem than points or miles, but the rewards rate may be lower.Rewards credit cards: Some top-tier rewards cards offer generous welcome offers and extensive features like purchase and travel protections. However, many rewards cards come with annual fees and high interest rates.Travel credit cards: You can earn points or miles to put towards future trips, including airfare, hotel stays and other perks, depending on which travel credit card you own. Although travel credit cards offer substantial benefits, they typically charge annual fees and high APRs.Balance transfer credit cards: The best balance transfer cards offer a 0% introductory APR period ranging from six to 21 months. In this case, you can transfer high-interest debts to your credit card and have plenty of time to pay down the balance interest-free. Just remember, you may have to pay an upfront balance transfer fee, typically 3% to 5% of the transfer amount.0% intro APR credit cards: Cards with 0% introductory APR promotions allow you to make payments without paying interest on purchases, balance transfers or both for a specified period. That means your entire payment applies strictly to your balance. However, once the introductory period expires, you'll have to pay the regular rate – typically a high variable rate. How to choose the right credit card If you're shopping for a new credit card, look for a credit card that offers the following:A low APR to minimize your interest charges.Generous rewards that align with your lifestyle, interests and financial goals.Reasonable or limited fees that don't significantly offset the value of the rewards you expect to earn.A 0% introductory APR on balance transfers and/or purchases.A credit limit that's high enough to give you some financial breathing room.The Consumer Financial Protection Bureau (CFPB) recommends comparing multiple offers to make sure you're getting the best rates and terms available. Once you choose a credit card you want to add to your wallet, you can submit a complete application for the card. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Your most frequently asked credit card questions, answered."
"Conservative leadership candidate Liz Truss attends a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - Foreign Secretary Liz Truss has a 34 point lead over former finance minister Rishi Sunak among the Conservative Party members who will decide Britain's next prime minister, a YouGov poll for The Times newspaper showed on Tuesday.The poll, which The Times said was conducted over the past five days, showed 60% support for Truss versus 26% for Sunak, with the remainder undecided.Register now for FREE unlimited access to Reuters.comReporting by David Milliken; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.",UK's Liz Truss has 34 point lead over Sunak - YouGov/Times poll.
"Ukraine's President Volodymyr Zelenskiy attends a joint news conference with Lithuanian President Gitanas Nauseda, as Russia's attack on Ukraine continues, in Kyiv, Ukraine July 28, 2022. Ukrainian Presidential Press Service/Handout via REUTERS Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Ukrainian President Volodymyr Zelenskiy on Tuesday asked his government to look into whether same-sex marriages should be legalised but said there would be no move as long as the war with Russia continued.Kyiv has increased support for LGBTQ+ rights since Western-backed leaders came to power in 2014. Parliament passed legislation in 2015 to ban discrimination in the workplace, but it does not allow for same-sex marriage.Zelenskiy - who noted the government was already looking at the legalisation of same-sex relationships - was responding to an electronic petition pressing specifically for the legalisation of same sex marriages.Register now for FREE unlimited access to Reuters.com""I asked Prime Minister (Denys) Shmyhal to address the issue raised in the electronic petition and to inform me of relevant decisions,"" he said in an official decree.He noted the Ukrainian constitution defined marriage as being between a man and a woman and said that during wartime, no changes could be made.According to a survey by the sociological group ""Rating"" published in August 2021, 47% of Ukrainian respondents had a negative view of the LGBTQ+ community. read more Russia has criminalised ""propagandising"" non-traditional sexual orientations to children since 2013. The law has been used to stop gay pride marches and detain gay rights activists.Register now for FREE unlimited access to Reuters.comReporting by David Ljunggren;
Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",Ukraine president asks gov't to study legalising same-sex marriages.
"MoneyWatch August 2, 2022 / 3:37 PM / MoneyWatch State abortion laws in flux since Roe overturned State abortion laws in flux since Supreme Court overturned Roe v. Wade 06:04 Residents of Georgia can claim embryos as dependents on their tax returns, according to guidance issued Monday by tax officials in the state.The Georgia Department of Revenue said it released the tax rules in light of the Supreme Court's June ruling overturning Roe v. Wade and of the state's abortion ban, which went into effect last month and describes an embryo as a ""natural person,"" granting it personhood status. The agency said that as of July 20 it would recognize ""any unborn child with a detectable human heartbeat"" as eligible for the state's individual income tax dependent exemption.  That means would-be parents may claim embryos as dependents after as early as six weeks gestation. Claiming a dependent on their tax return allows Georgia residents to receive a $3,000 dependent personal exemption for each embryo. So someone who is expecting twins could claim $6,000 under the new guidance. Georgia residents should be ready to provide medical records or other documentation if the state's Department of Revenue wants to see evidence, the guidance notes.  Surveillance state?But the policy raises a host of questions, according to Anthony Michael Kreis, a Georgia State University law professor and political scientist, who tweeted that the state's tax department ""will be part of the healthcare surveillance state.""""And given that between 10 and 15 percent of pregnancies end in miscarriages, state tax workers will have their work cut out for them,"" he wrote. Yes. The Georgia Department of Revenue will be part of the healthcare surveillance state. And given that between 10 and 15 percent of pregnancies end in miscarriages, state tax workers will have their work cut out for them. https://t.co/iHCu3AkU3T— Anthony Michael Kreis (@AnthonyMKreis) August 2, 2022 Under the federal tax code, by contrast, a child must be have been born to be claimed on a parent's tax filing. But some Republican lawmakers have pushed to change IRS rules to allow people to claim tax credits for fetuses, such as one bill earlier this year that proposes to let people claim Child Tax Credit payments for embryos.The concept of ""personhood"" has legal implications for the rights of a fetus versus those of the parent, and is a longstanding issue on both sides of the abortion debate. Following the Supreme Court's ruling in Roe v. Wade and with more states restricting abortions or granting ""personhood"" status to fetuses, questions are arising about how fetuses should be treated under the law.  Pregnant woman ticketed in Texas for driving in carpool lane argues unborn baby was a second person 01:43 In one high-profile case last month, a pregnant Texas woman who was ticketed for driving in a high-occupancy vehicle lane chose to dispute the fine, claiming her unborn baby should count as a second person following the Supreme Court's decision.  Some Republican lawmakers also want to change laws around child support, introducing a bill last month that would require prospective fathers to pay child support from the moment of conception.  In: Taxes Abortion Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Georgia says residents can claim embryos as dependents on their tax returns.
"The Robinhood website home screen on a smartphone.Gabby Jones | Bloomberg | Getty ImagesRobinhood CEO Vlad Tenev said Tuesday in a press release that the company will reduce its headcount by approximately 23%.The layoffs will be primarily in operations, marketing and program management. In the release, Tenev blamed ""deterioration of the macro environment, with inflation at 40-year highs accompanied by a broad crypto market crash.""Robinhood had previously laid off 9% of its workforce in April.""I want to acknowledge how unsettling these types of changes are,"" Tenev said.In the release, Tenev said the company would flatten its organizational structure to give new general managers broad responsibility for its businesses. He also said that affected employees would receive an email and a Slack message letting them know if they were being let go or still had a job, immediately after an all-hands meeting to discuss the move on Thursday.The company also dropped its earnings report for the second quarter, one day earlier than expected. Here's how it did.Revenue: $318 million vs. $321 million estimated, according to RefinitivLoss: 34 cents per share vs. 37 cents estimated, according to RefinitivRobinhood's total net revenue of $318 million was up from $299 million in the first quarter, thanks to an increase in revenue from cryptocurrency activities and net interest. However, that revenue number was still well below the $565 million reported in the second quarter of 2021.The report also showed a decline in monthly active users and assets under custody.The company has seen growth reverse as the pandemic boom in retail trading appeared to lose steam.The company went public in July 2021 at $38 per share, and its stock jumped as high as $85 per share in its first month of trading.However, the stock quickly lost steam. Shares of Robinhood are down 48% year to date and closed at $9.23 per share on Tuesday.Shares were down about 2% in after-hours trading.Jesse Pound contributed to this report.","Robinhood cutting about 23% of jobs, releases second quarter earnings."
"A Starbucks sign is shown on one of the company's stores in Los Angeles, California, U.S. October 19, 2018. REUTERS/Mike Blake GLOBAL BUSINESS WEEK AHEADRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Starbucks Corp (SBUX.O) missed Wall Street estimates for quarterly comparable sales on Tuesday, as business in China took a hit due to renewed lockdowns, taking the shine off strong demand for its coffees in the United States.A fresh round of lockdowns in Shanghai and a resurgence of COVID-19 in Beijing and other Chinese cities have forced Starbucks stores to shut seating areas in the quarter, allowing the company to offer only deliveries or mobile orders.At the stores that remained open in China, recovery of traffic was choppy due to stringent safety protocols established by authorities, while new COVID-19 flare-ups in July added to concerns around recovery in the country - Starbucks' fastest-growing market.Register now for FREE unlimited access to Reuters.comStarbucks said comparable sales in China slumped 44% in the third quarter, bruising its international business and offsetting 9% growth in U.S. same-store sales.Global comparable sales at the Seattle-based chain rose 3% in the fiscal third quarter ended July 3, compared to analysts' average estimate for a 3.76% rise, according to Refinitiv IBES.Total net revenue, however, rose to $8.15 billion from $7.50 billion a year earlier, edging past analysts' average estimate of $8.11 billion.Shares in the company rose 1% in extended trading.Net earnings attributable to Starbucks fell to $912.9 million, or 79 cents per share, from $1.15 billion, or 97 cents per share, a year earlier.Register now for FREE unlimited access to Reuters.comReporting by Deborah Sophia in Bengaluru and Hilary Russ in New York; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.",Starbucks misses comparable sales estimates on China COVID curbs.
"Politics August 2, 2022 / 4:28 PM / CBS News Jon Stewart talks support for burn pit bill Jon Stewart talks support for burn pit bill 07:34 The Senate is set to vote Tuesday on the PACT Act, a bill to expand health care benefits for veterans who developed illnesses due to their exposure to burn pits during military service. Senate Majority Leader Chuck Schumer said Tuesday afternoon that he and Minority Leader Mitch McConnell had come to an agreement and the vote will happen later that night. Schumer said there will be three amendment votes – two amendments that need 60 votes to move forward and 60 votes to end debate on the bill. ""I'm very optimistic that this bill will pass,"" Schumer said on the Senate floor. ""So our veterans across America can breathe a sigh of relief … It took a while to get here, but I'm grateful for the bipartisan cooperation and support that will allow us to move forward today.""  The legislation would expand benefits for an estimated 3.5 million veterans exposed to toxic burn pits during the U.S. wars in Afghanistan and Iraq. The legislation would remove the burden of proof from veterans seeking care for conditions related to exposure from burn pits by presuming a number of conditions, including terminal cancers, are related to the exposure.  Veterans, military family members and advocates rally outside the Capitol in Washington, Tuesday, Aug. 2, 2022, in support of a bill that enhances health care and disability benefits for millions of veterans exposed to the toxic burn pits. Mariam Zuhaib / AP Burn pits are holes in the ground the U.S. military dug near bases in countries that had limited infrastructure where troops would dump trash and burn it to dispose of it.  The legislation has drawn the opposition of some Republicans, such as GOP Sen. Ted Cruz, while comedian Jon Stewart has spent time on Capitol Hill trying to rally support.The bill initially passed the House and Senate in June, but due to a snag in the language, it had to go back to the House and Senate before it could be sent to President Biden's desk. The legislation again passed the House but failed to advance a procedural vote in the Senate last week. Twenty-five Republican senators who voted in favor of the bill in June voted against advancing the bill last week, citing an objection to how the legislation is paid for. Republican Sen. Toomey of Pennsylvania has objected since June to a provision in the legislation language that would move $400 billion in preexisting veterans spending and moves it from discretionary spending to mandatory spending, arguing that this frees up money that could be used on items unrelated to veterans. Mr. Biden has blamed burn pits for the health problems of his late son, Beau Biden, who died of a brain tumor in 2015. In a 2019 speech to the Service Employees International Union, then-candidate Biden said because of his son's ""exposure to burn pits, in my view, I can't prove it yet, he came back with stage four glioblastoma."" Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Senate set to vote again on burn pit legislation.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more Zawahiri had been in hiding for years and the operation to locate and kill him was the result of ""careful patient and persistent"" work by the counter-terrorism and intelligence community, a senior administration official told reporters.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.Register now for FREE unlimited access to Reuters.comSpeaking on the condition of anonymity, the official provided the following details on the operation:* For several years, the U.S. government had been aware of a network that it assessed supported Zawahiri, and over the past year, following the United States' withdrawal from Afghanistan, officials had been watching for indications of Al Qaeda's presence in the country.This year, officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location.* Over several months, intelligence officials grew more confident that they had correctly identified Zawahiri at the Kabul safe house and in early April started briefing senior administration officials. Jake Sullivan, National Security Advisor, subsequently briefed President Joe Biden.""We were able to build a pattern of life through multiple independent sources of information to inform the operation,"" the official said.Osama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/ Once Zawahiri arrived at the Kabul safe house, officials were not aware of him leaving it and they identified him on its balcony - where he was ultimately struck - on multiple occasions, the official said.* Officials investigated the construction and nature of the safe house and scrutinized its occupants to ensure the United States could confidently conduct an operation to kill Zawahiri without threatening the structural integrity of the building and minimizing the risk to civilians and Zawahiri's family, the official said.* In recent weeks, the president convened meetings with key advisors and Cabinet members to scrutinize the intelligence and evaluate the best course of action. On July 1, Biden was briefed on a proposed operation in the White House Situation Room by members of his cabinet including CIA Director William BurnsBiden ""asked detailed questions about what we knew and how we knew it"" and closely examined a model of the safe house the intelligence community had built and brought to the meeting.He asked about lighting, weather, construction materials, and other factors that could affect the success of the operation, the official said. The president also requested analysis of the potential ramifications of a strike in Kabul.* A tight circle of senior inter-agency lawyers examined the intelligence reporting and confirmed that Zawahiri was a lawful target based on his continuing leadership of Al Qaeda.On July 25, the president convened his key Cabinet members and advisors to receive a final briefing and discuss how killing Zawahiri would affect America's relationship with the Taliban, among other issues, the official said. After soliciting views from others in the room, Biden authorized ""a precise tailored air strike"" on the condition that it minimize the risk of civilian casualties.* The strike was ultimately carried out at 9:48 p.m. ET (0148 GMT) on July 30 by a drone firing so-called ""hellfire"" missiles.Reuters Graphics Reuters GraphicsRegister now for FREE unlimited access to Reuters.comWriting by Michelle Price; reporting by Eric Beech, Alex Alper, Idrees Ali, and Jeff Mason; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",How the CIA identified and killed Al-Qaeda leader Zawahiri.
"The PayPal app logo seen on a mobile phone in this illustration photo October 16, 2017. REUTERS/Thomas White/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - PayPal Holdings (PYPL.O) said on Tuesday Elliott Investment Management has an over $2 billion investment in the company, making the activist investor one of the largest shareholders in the fintech firm.Paypal's shares extended gains after the bell, rising as much as 11.8%.The company also announced a slew of moves including appointing Blake Jorgensen as Paypal's new chief financial officer and a new $15 billion repurchase program. Blake, who takes over the role on Wednesday, joins PayPal from Electronic Arts (EA.O).Register now for FREE unlimited access to Reuters.comPayPal has ""an unmatched and industry-leading footprint across its payments businesses,"" said Jesse Cohn, a managing partner at Elliot, a day after the investment firm disclosed a similar stake in Pinterest Inc (PINS.N). read more PayPal, which was among companies that won big during the pandemic, saw shares wipe out over 70% of their market value in a year as e-commerce growth retreated from pandemic-era records.The company earned a profit of 93 cents for the three months ended June 30, lower than $1.15 per share a year earlier.PayPal's revenue rose 10% on an FX neutral basis to $6.8 billion as payment volumes leapt 13%.Register now for FREE unlimited access to Reuters.comReporting by Mehnaz Yasmin in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.","PayPal shares jump after it reveals $2 bln stake held by Elliott, announces new CFO."
"Dan Schulman, president and chief executive officer of PayPal Holdings Inc., arrives for the morning session of the Allen & Co. Media and Technology Conference in Sun Valley, Idaho, U.S., on Wednesday, July 10, 2019. The 36th annual event gathers many of America's wealthiest and most powerful people in media, technology, and sports.Patrick T. Fallon | Bloomberg | Getty ImagesPayPal shares rosem as much as 13% in extended trading on Tuesday after the financial services firm issued stronger-than-expected second-quarter results. In its earnings materials PayPal said it had entered into an information-sharing agreement on value creation with Elliott Management.""As one of PayPal's largest investors, with an approximately $2 billion investment, Elliott strongly believes in the value proposition at PayPal. PayPal has an unmatched and industry-leading footprint across its payments businesses and a right to win over the near- and long term,"" Elliott Managing Partner Jesse Cohn was quoted as saying in an PayPal earnings presentation. The news comes a day after Elliott said it had become the top investor in social-network operator Pinterest.Here's how PayPal did in the second quarter:Earnings: 93 cents per share, adjusted, vs. 86 cents per share as expected by analysts, according to Refinitiv.Revenue: $6.81 billion, vs. $6.79 billion as expected by analysts, according to Refinitiv.PayPal announced a ""comprehensive evaluation of capital return alternatives"" as it said it revealed a $15 billion share buyback program.For the full year, PayPal said it expects $3.87 to $3.97 in adjusted earnings per share. Analysts polled by Refinitiv had expected $3.82 per share.Notwithstanding the after-hours move, PayPal shares had fallen 52% so far this year.Executives will discuss the results with analysts on a conference calls starting at 5 p.m. ET.This story is developing. Please check back for updates.",PayPal jumps as Elliott Management says it has a $2 billion holding in the financial-services company.
"San Francisco Federal Reserve Bank President Mary Daly poses at the bank’s headquarters in San Francisco, California, U.S., July 16, 2019. REUTERS/Ann SaphirRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - A trio of Federal Reserve officials from across the policy spectrum signaled on Tuesday that they and their colleagues remain resolute and ""completely united"" on getting U.S. interest rates up to a level that will more significantly curb economic activity and put a dent in the highest inflation since the 1980s.Moreover, one of them - San Francisco Fed President Mary Daly - said she was ""puzzled"" by bond market prices that reflect investor expectations for the central bank to shift to rate cuts in the first half of next year. On the contrary, she said her expectation is the Fed will keep raising rates for now and then hold them there ""for a while,"" remarks that triggered a wave of selling in rate-futures markets.In a separate appearance, Cleveland Fed President Loretta Mester struck a similarly hawkish tone, noting that inflation has yet to peak and she needs to see several months of very compelling evidence that inflation is on a sustainable path down to the central bank's 2% goal before policymakers can ease off.Register now for FREE unlimited access to Reuters.comTheir new uniform remarks reverberated in bond and interest rate futures markets that had emerged from last week's meeting positioned for the central bank to dial back the pace of rate hikes.Expectations the Fed would reverse course and start cutting rates in the first half of 2023 diminished significantly as reflected in fed fund futures pricing, while the probability of another 75 basis point increase next month moved notably higher.The yield on the 2-year Treasury note - the government bond maturity most sensitive to Fed policy expectations - rose by 20 basis points, the most in nearly two months.Fed Chair Jerome Powell said last week the central bank may consider another ""unusually large"" rate hike at its Sept. 20-21 policy meeting, with officials guided in their decision making by more than a dozen critical data points covering inflation, employment, consumer spending and economic growth between now and then.Chicago Fed President Charles Evans told reporters on Tuesday that if inflation does not abate before then, he would back such a move.""If you really thought things weren't improving ... 50 (basis points) is a reasonable assessment but 75 could also be okay. I doubt that more would be called for,"" Evans said during a question-and-answer session at the regional bank's headquarters in Chicago, effectively dismissing the prospect of raising rates by a full percentage point next month.The central bank raised its benchmark overnight lending rate by another three-quarters of a percentage point last week to a target range between 2.25% and 2.50%. It has hiked that rate by 225 basis points since March as officials have been increasingly aggressive to try and quash stubbornly high inflation even as recession fears gather pace.'NOWHERE NEAR'San Francisco Fed's Daly said the central bank's work of bringing down inflation is ""nowhere near"" almost done and there is still ""a long way to go"" to lower inflation from four-decade highs.""That would not be my modal outlook,"" she said in an interview streamed on LinkedIn and hosted by a CNBC anchor when asked about investor expectations of rate cuts. ""My modal outlook, or the outlook I think is most likely, is really that we raise interest rates and then we hold them there for a while at whatever level we think is appropriate.""Mester struck a similarly bullish note. ""We have more work to do because we have not seen that turn in inflation,"" Mester said in an interview with the Washington Post. ""It's got to be a sustained several months of evidence that inflation has first peaked -- we haven't even seen that yet -- and that it's moving down.""""You wouldn't want to conclude too quickly inflation is on a downward path because of how high it is...I want to see it broadly across many inflation measures, not just one, not just two,"" she added.Evans too noted that he thinks the Fed's policy rate will have to rise to between 3.75% and 4.00% by the end of next year, but cautioned against too quick a path to get there should it have to retrench unexpectedly on the back of a changing landscape.The economy continues to flash conflicting signals with the tightest labor market in decades strongly pushing up labor costs in the second quarter but economic growth contracting for a second straight quarter. The Fed is trying to dampen demand across the economy to help bring down price pressures without causing a spike in unemployment.U.S. job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade industries, the Labor Department reported on Tuesday, although other details suggested the labor market remained extremely tight. read more Evans said that he had downgraded his expectations for economic growth this year and now sees it coming in at 1% or lower, but added that he still sees a path for the Fed to bring down inflation while keeping the unemployment rate below 4.5%.Register now for FREE unlimited access to Reuters.comReporting by Lindsay Dunsmuir and Dan Burns; Editing by Chizu Nomiyama and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.",Fed officials stay resolute on need to make policy more restrictive.
"MicroStrategy's Michael Saylor is leaving his role as CEO to become Executive Chairman of the company, according to a statement released by the company on Tuesday afternoon. The company's president, Phong Le, will take the reins from Saylor.Saylor has been in the role of chief executive since launching the company in 1989. MicroStrategy went public in 1998.MicroStrategy's stock is down over 48% this year. Bitcoin is down over 51% during that same time period.""I believe that splitting the roles of Chairman and CEO will enable us to better pursue our two corporate strategies of acquiring and holding bitcoin and growing our enterprise analytics software business. As Executive Chairman I will be able to focus more on our bitcoin acquisition strategy and related bitcoin advocacy initiatives, while Phong will be empowered as CEO to manage overall corporate operations,"" said Mr. Saylor in the release.MicroStrategy may technically be in the business of enterprise software and cloud-based services, but Saylor has said the publicly traded company doubles as the first and only bitcoin spot exchange-traded fund in the U.S.""We're kind of like your nonexistent spot ETF,"" Saylor told CNBC on the sidelines of the Bitcoin 2022 conference in Miami.","Microstrategy CEO Saylor moves to chairman role, focusing on strategy and bitcoin."
"John Kirby, National Security Council Coordinator for Strategic Communications, takes part in White House Press Secretary Karine Jean-Pierre's press briefing at the White House in Washington, U.S., August 1, 2022. REUTERS/Leah MillisRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - China has positioned itself to take further actions against Taiwan, including possible ""economic coercion,"" White House national security spokesman John Kirby told reporters on Tuesday.Kirby also stressed that the United States will continue to operate in the seas and skies of the Western Pacific, amid escalating tensions between China and Taiwan over U.S. House of Representatives Speaker Nancy Pelosi's visit to the island.Register now for FREE unlimited access to Reuters.comReporting by Nandita Bose and Alexandra Alper; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.","China could use ""economic coercion"" against Taiwan."
"MoneyWatch August 2, 2022 / 2:35 PM / AP It's one of the seafood industry's most gruesome hunts. Every year, the fins of as many as 73 million sharks are sliced from the backs of the majestic sea predators, their bleeding bodies sometimes dumped back into the ocean where they are left to suffocate or die of blood loss.But while the barbaric practice is driven by China, where shark fin soup is a symbol of status for the rich and powerful, America's seafood industry isn't immune from the trade. A spate of recent criminal indictments highlights how U.S. companies, taking advantage of a patchwork of federal and state laws, are supplying a market for fins that activists say is as reprehensible as the now-illegal trade in elephant ivory once was. A complaint quietly filed last month in Miami federal court accused an exporter based in the Florida Keys, Elite Sky International, of falsely labeling some 5,666 pounds of China-bound shark fins as live Florida spiny lobsters. Another company, south Florida-based Aifa Seafood, is also under criminal investigation for similar violations, according to two people on the condition of anonymity to discuss the ongoing probe.  The company is managed by a Chinese-American woman who in 2016 pleaded guilty to shipping more than a half-ton of live Florida lobsters to her native China without a license.The heightened scrutiny from law enforcement comes as Congress debates a federal ban on shark fins — making it illegal to import or export even foreign-caught fins. Every year, American wildlife inspectors seize thousands of shark fins while in transit to Asia for failing to declare the shipments. This picture shows sharks with their fins removed for sale at a fishing port in Banda Aceh on July 15, 2021. CHAIDEER MAHYUDDIN/AFP via Getty Images While not all sharks are killed just for their fins, none of the other shark parts harvested in the U.S. and elsewhere — such as its meat, jaws or skin — can compete with fins in terms of value. Depending on the type of shark, a single pound of fins can fetch hundreds of dollars, making it one of the priciest seafood products by weight anywhere.""If you're going out of business because you can no longer sell fins, then what are you actually fishing for?,"" said Whitney Webber, a campaign director at Washington-based Oceana, which supports the ban. Since 2000, federal law has made it illegal to cut the fins off sharks and discard their bodies back into the ocean. However, individual states have wide leeway to decide whether or not businesses can harvest fins from dead sharks at a dock, or import them from overseas. The legislation working its way through Congress would impose a near-total ban on trade in fins, similar to action taken by Canada in 2019. The legislation, introduced in 2017 by a bipartisan group of lawmakers, has majority support in both the House and Senate.Among those opposing the proposed ban is Elite, which has hired lobbyists to urge Congress to vote against the bill, lobbying records show. It's not known where Elite obtained its fins. But in the criminal complaint, the company was also accused of sourcing lobster from Nicaragua and Belize that it falsely stated was caught in Florida. The company, affiliated with a Chinese-American seafood exporter based in New York City, was charged with violating the Lacey Act, a century-old statute that makes it a crime to submit false paperwork for any wildlife shipped overseas.An attorney for Elite wouldn't comment nor did two representatives of Aifa when reached by phone. 71% decline in shark speciesOverfishing has led to a 71% decline in shark species since the 1970s. The International Union for Conservation of Nature, a Switzerland-based group that tracks wildlife populations, estimates that over a third of the world's 500-plus shark species are threatened with extinction.Contrary to industry complaints about excessive regulations, the U.S. is hardly a model of sustainable shark management, said Webber. She pointed to a recent finding by the National Oceanic and Atmospheric Administration that less than 23% of the 66 shark stocks in U.S. waters are safe from overfishing. The status of more than half of shark stocks isn't even known. The situation in Europe is even worse: a new report from Greenpeace, called ""Hooked on Sharks,"" revealed what it said is evidence of the deliberate targeting of juvenile blue sharks by fishing fleets from Spain and Portugal. The report found that the U.S. is the world's fourth-largest shark exporter behind Spain, China and Portugal, with exports of 3.2 million kilograms of meat — but not fins — worth over $11 million in 2020.Webber said rather than safeguard a small shark fishing industry, the U.S. should blaze the trail to protect the slow-growing, long-living fish.""We can't ask other countries to clean up their act if we're not doing it well ourselves,"" said Webber.She said the current laws aren't enough of a deterrent in an industry where bad actors drawn by the promise of huge profits are a recurrent problem. Scientists explain the fear of great white sharks 06:34 Case in point: Mark Harrison, a Florida fisherman who in 2009 pleaded guilty to three criminal counts tied to his export of shark fins, some of them protected species. He was ordered to pay a $5,000 fine and was banned from having anything to do with the shark fin trade for five years.But federal prosecutors allege that he reconnected to associates of his former co-conspirators in 2013 in violation of the terms of his probation. He was arrested in 2020 on mail and wire fraud conspiracy charges as part of a five-year investigation, called Operation Apex, targeting a dozen individuals who also allegedly profited from drug trafficking. Prosecutors allege Harrison's Florida-based Phoenix Fisheries was a ""shell company"" for individuals based in California, where possession of fins has been illegal since 2011. As part of the bust, the Feds found documents about some six tons of shark fin exports and seized 18 totoaba fish bladders, a delicacy in Asia taken from an endangered species. They also seized 18,000 marijuana plants, multiple firearms and $1 million in diamonds — pointing to a criminal enterprise that transcended illegal seafood and stretched deep into the Mexican and Chinese mafia underworlds. ""This operation is about much more than disrupting the despicable practice of hacking the fins off sharks and leaving them to drown in the sea to create a bowl of soup,"" Bobby Christine, then U.S. Attorney for the Southern District of Georgia, said at the time. An attorney for Harrison declined to comment on the case, which has yet to go to trial. But unlike his co-defendants, Harrison isn't implicated in any drug-related or weapons offenses. Supporters say he has complied with all laws and is being unfairly targeted by bureaucrats overlooking the key role he played in the 1980s, when sharks were even more threatened, developing the U.S. shark fishery.""They appear to be using the current widespread empathy toward sharks for publicity and career advancement in what would otherwise be a very routine matter,"" reads a website run by supporters seeking to raise $75,000 for a ""Shark Defense Fund"" to help Harrison fight the charges. ""In the process, they are seeking to tarnish Mark's reputation and deal a blow to the American shark fishery,"" according to the website, which was taken down after the AP started making inquiries.Fishing ban could backfireDemian Chapman, who heads shark research at the Mote Marine Laboratory in Sarasota, Florida, said that the push to ban commercial fishing of sharks could backfire.""If you subtract the U.S. from the fin trade entirely, it won't do anything to directly affect international demand, and it's likely that other countries, with far less regulation of their fisheries, will fill the void,"" said Chapman.He said the bill introduced by Sen. Cory Booker, a Democrat of New Jersey, appears to be driven by ""shark fans"" — not ""shark fins"" — and those who want to see the fish species afforded the same very high level of protection afforded to marine mammals and sea turtles. He said few in the U.S. are involved in the cruel, wasteful practice of shark finning and that the U.S.' role as a transit hub for fins can be remedied without punishing American fishers. ""There's a disconnect between perceptions and reality,"" said Chapman. ""In the 25 years I've been studying sharks, they've gone from demon fish to a group of species that many people want to protect. This is great but we have to support science-based management measures that address the real problems."" In: United States Congress shark Hunting United States Senate Economy Agriculture Environment cory booker Miami China Florida Asia Crime Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Feds target U.S. companies caught in lucrative shark fin trade.
"Lisa Su, president and chief executive officer of Advanced Micro Devices Inc. (AMD), speaks during a launch event in San Francisco, California, U.S., on Wednesday, Aug. 7, 2019.David Paul Morris | Bloomberg | Getty ImagesAMD reported results for the quarter ending in June that beat estimates for profit and revenue, but the chipmaker gave a forecast for the current quarter that trailed Wall Street expectations.AMD stock fell 4% in extended trading.Here's how AMD did per Refinitiv consensus expectations:EPS: $1.05, adjusted, versus $1.03 expectedRevenue: $6.55 billion, versus $6.53 billion expectedThe chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.AMD currently has a significant market opportunity as its primary rival for PC and server processors, Intel, stumbles with execution.AMD's chips have surpassed Intel's in terms of performance, and investors are looking to see if the company has the supply and execution to take market share.AMD said that data center sales rose 83% year-over-year to $1.5 billion. Server chip sales are critical AMD as it seeks to take market share from Intel.Client segment revenue, which is comprised of PC sales, rose 25% to $2.2 billlion during the quarter despite signs that computer sales have been slowing at the end of a two-year pandemic-fueled boom.Sales of chips for consoles like the Playstation 5 and Xbox Series X were also a highlight for AMD during the quarter. Gaming segment sales rose 32% year-over-year to $1.7 billion.AMD stock is down over 31% so far in 2022 as investors have been selling fast-growing semiconductor stocks in the face of inflation and recession fears.","AMD beats on earnings and revenue, but third-quarter forecast comes in light."
"The logo of Brazil's state-run Petrobras oil company is seen on a tank in at Petrobras Paulinia refinery in Paulinia, Brazil July 1, 2017. REUTERS/Paulo WhitakerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Brazil's state-controlled oil company Petrobras (PETR4.SA) will distribute at least twice as much as the biggest international oil producers in second quarter dividends, boosting the government's coffers amid a tense presidential campaign.The five biggest Western oil producers - Exxon Mobil Corp (XOM.N), Chevron Corp. (CVX.N), Shell PLC (SHEL.L), TotalEnergies (TTEF.PA) and BP (BP.L) - posted record cash distributions to shareholders in recent days between $4-7.6 billion. But none came close to Petrobras's $17 billion payout.Brazil's government, which controls the producer with a majority of its voting shares, last month asked Petrobras and other state-controlled companies to increase dividends to finance extra federal spending.Register now for FREE unlimited access to Reuters.comThe cry for help came as the government of President Jair Bolsonaro, who later this year faces a tough reelection battle, last month bypassed a constitutional spending cap to finance a massive cash transfer program popular among low-income voters. read more Petrobras will distribute about 60% more to shareholders than its $10.5 billion (54.33 billion reais) profit. Critics said the huge payout will lead to underinvestment in the business. read more Petrobras' dividends were less than at Saudi Arabia's state-controlled Saudi Aramco, the world's largest oil company, which produces 13 million barrels of oil equivalent per day (boed), almost five times more than Petrobras.Saudi Aramco has been distributing $18.76 billion to shareholders per quarter. Its next dividend will be disclosed on Aug. 14.U.S. producer Exxon, which posted the highest quarterly profit of the five, spent $7.6 billion on shareholder distributions. read more Bolsonaro is trying to boost his re-election chances by ramming through short-term spending measures, critics say. Polls show he is lagging leftist former President Luiz Inacio Lula da Silva. read more Dividend payments will be made by Petrobras before the first round of voting, scheduled for Oct. 2. read more On a webcast last week, Petrobras executives said the extraordinary dividend payment does not affect the company's investment plans. Petrobras expects to retain between $8-10 billion in cash this year and reaffirmed a commitment to distribute at least 60% of its free cash flow to investors.""It is our understanding that this is the best cash allocation for the company's cash,"" Chief Financial Officer Rodrigo Araujo told reporters.Register now for FREE unlimited access to Reuters.comReporting by Sabrina Valle
Editing by Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.",Petrobras leapfrogs oil majors in dividend payouts by more than 50%.
"Brian Chesky, CEO and Co-founder of AirbnbMike Segar | ReutersAirbnb beat Wall Street estimates for earnings and posted revenue that met expectations for the second quarter. The company also announced a $2 billion share buyback program.Airbnb, like Uber, benefited from an increase in consumer spending on activities as opposed to goods. Revenue jumped 58% year-over-year to $2.1 billion helping to drive the company's most profitable second quarter to date.Shares were down about 5% after hours.Here are the key numbers:Earnings per share: $0.56 vs. $0.43 expected by analysts, according to Refinitiv.Revenue: $2.10 billion vs. $2.11 billion expected by analysts, according to Refinitiv.Airbnb reported net income of $379 million, up from a loss of $68 million in the year-ago quarter.The company said it tightened spending at the height of the pandemic, which helped make it leaner and more focused, and that it's adapted its business as travel continues to change.Airbnb anticipates record revenue during the third quarter despite headwinds from foreign exchange fluctuations, specifically the weakening euro versus the dollar. It guided third quarter revenue to land between $2.78 billion and $2.88 billion, ahead of StreetAccount's $2.77 billion estimate. The company said it broke a single-day revenue record on July 4, which it says signals a strong summer season ahead.For the second quarter, Airbnb reported more than 103 million nights and experiences booked. It's the company's largest quarterly number ever, but fell short StreetAccount estimates of 106.4 million nights and experiences booked. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, totaled $17 billion in the second quarter, that's up 27% year over year.And while many companies are calling employees back to the office, long-term stays, where guests stay in a home for 28 days or more, remained Airbnb's fastest-growing segment, with 25% growth over the year-ago quarter.The company said gross nights booked for cross-border travel surpassed pre-pandemic levels during the quarter and doubled compared to the same quarter last year.Average daily rates rose 40% when compared to pre-pandemic levels in 2019, reaching $164. That's up 7% from the same quarter a year ago, excluding the effects of currency fluctuations. The company anticipates ADR to be flat in the third quarter on a year-over-year basis.","Airbnb reports record-breaking bookings, announces $2 billion buyback."
"Starbucks on Tuesday reported better-than-expected quarterly earnings and revenue, despite lockdowns in China weighing on its performance.Shares of the company rose more than 1% in extended trading.Here's what the company reported for the quarter ended July 3 compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Earnings per share: 84 cents adjusted vs. 75 cents expectedRevenue: $8.15 billion vs. $8.11 billion expectedThe coffee giant reported fiscal third-quarter net income attributable to Starbucks of $912.9 million, or 79 cents per share, down from $1.15 billion, or 97 cents per share, a year earlier. The company said that inflation and higher wages for baristas weighed on its margins this quarter.Net sales rose 9% to $8.15 billion. The company reported global same-store sales growth of 3%, fueled by a strong performance in the United States.In Starbucks' home market, same-store sales increased 9%, driven largely by higher average order totals. Traffic also ticked up 1%, a rarity in the restaurant industry as other chains see low-income consumers visiting less often.Outside the U.S., same-store sales fell 18%, weighed down by plummeting demand in China. The country, which is Starbucks' second-largest market, spent two-thirds of the quarter under restrictions to curb the spread of Covid. As a result, China's same-store sales plunged 44%. The company is still seeing periodic short-term closures in China. Last quarter, Starbucks pulled its outlook for fiscal 2022, citing the uncertainty caused by Covid outbreaks in China. The company did not issue a new forecast this quarter.Starbucks opened 318 net new locations worldwide during the quarter, bringing its global restaurant count to 34,948.Read the full earnings report here.Correction: An earlier version of this story misstated Refinitiv estimates for Starbucks' quarterly revenue.","Starbucks beats earnings and revenue estimates, despite lockdowns in China."
"Aug 31, 2020; Flushing Meadows, New York, USA; Novak Djokovic (SRB) serves the ball against Damir Dzumhur (BIH) on day one of the 2020 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center. Mandatory Credit: Robert Deutsch-USA TODAY Sports/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - There is a petition circulating to allow Novak Djokovic to play at the U.S. Open but the Serbian appears likely to miss the entire North American hardcourt swing barring a sudden change in COVID-19 protocols in the United States and Canada.Djokovic has refused to take the COVID-19 vaccine yet the 21-times Grand Slam winner remains on the entry lists for the ATP 1000 events in Montreal and Cincinnati that serve as tune-ups for the Aug. 29-Sept. 11 U.S. Open in New York.In the case of the U.S. Open, which does not have a vaccine mandate, organisers previously said that per the Grand Slam Rule Book, all eligible players are entered into the main draw based on their ranking 42 days prior to the first Monday of the event.Register now for FREE unlimited access to Reuters.comU.S. Open organisers also said that while they do not have a vaccination mandate in place for players, they will respect the U.S. government's position regarding travel into the country for unvaccinated non-U.S. citizens.Former world number one Djokovic, whose website shows no upcoming events, said last week he was preparing for the U.S. Open as if he will be allowed to compete in the year's final Grand Slam despite not being vaccinated. read more Djokovic's camp and organisers of the three North American hardcourt events did not immediately respond when asked by Reuters on Tuesday for comment.The hashtag #LetNovakPlay was circulating on social media as a slew of Djokovic supporters voiced their support for a player who moved to within one of Spaniard Rafa Nadal's record of 22 Grand Slam titles after his Wimbledon triumph last month.""Tennis is not interesting or authentic when the best are not allowed to compete,"" one Twitter user wrote while another felt winning a tournament where Djokovic is not able to play is less impressive: ""There will be an * after every tournament winners name where Novak isn't allowed to play!""Another post with the same hashtag brought up U.S. President Joe Biden, who is fully vaccinated and twice boosted but tested positive on Saturday just three days after having emerged from isolation after testing positive for the first time on July 21.""Quadruple-vaxxed Biden tested positive for Covid again. But unvaccinated Covid-recovered Djokovic can't play in U.S. Open. He is apparently too big a risk to the U.S. healthcare system,"" the tweet read.An online petition that launched a month ago calling for the United States Tennis Association to work with the U.S. government to allow Djokovic to compete in the U.S. Open was edging closer to its target of 50,000 signatures on Tuesday.The focus on Djokovic's status ahead of a Grand Slam is far from new as he was unable to defend his Australian Open crown this year after being deported from the country over his vaccination status in January.Djokovic has previously said he was prepared to miss Grand Slam tournaments rather than take the COVID-19 vaccine.Register now for FREE unlimited access to Reuters.comReporting by Frank Pingue in Toronto; Additional reporting by Manasi Pathak in Bengaluru, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.",Djokovic likely to miss U.S. Open over COVID-19 vaccine status.
"World August 2, 2022 / 2:53 PM / CBS/AP How Russia is weathering international sanctions How Russia is weathering international sanctions 04:25 A new round of U.S. sanctions targeting Russian elites includes a woman named in news reports as Vladimir Putin's longtime romantic partner.The Treasury Department said Tuesday that the government has frozen the visa of Alina Kabaeva, an Olympic gymnast in her youth and former member of the state Duma, and imposed other property restrictions. The department said she is also head of a Russian national media company that promotes Russia's invasion of Ukraine. In this November 4, 2004 file photo, Russian President Vladimir Putin speaks with gymnast Alina Kabaeva at a Kremlin banquet in Moscow, Russia. ITAR-TASS/AP Critics of the Kremlin and imprisoned Russian rights campaigner Alexey Navalny have been calling for sanctions against Kabaeva, saying her news outlet took the lead in portraying Western commentary on the invasion as a disinformation campaign. The U.K. sanctioned Kabaeva in May and the EU imposed travel and asset restrictions on her in June.Rumors have circulated for years about Kabaeva's personal relationship with the Russian leader. Russian tabloids have dubbed her ""Russia's First Mistress"" and even the ""Secret First Lady."" In 2008, Russian newspaper Moskovsky Korrespondent reported that Putin had plans to divorce his longtime wife, Lyudmila, to be with Kabaeva. The paper was shut down two days later. But five years later, Putin announced that he and Lyudmila had separated. Russian retired rhythmic gymnast and politician Alina Kabaeva attends a reception at on February 8, 2014 in Sochi, Russia.  Sasha Mordovets / Getty Images Also named in Treasury's latest sanctions package is Andrey Grigoryevich Guryev, an oligarch who owns the Witanhurst estate, a 25-bedroom mansion that is the second-largest estate in London after Buckingham Palace.His $120 million yacht, the Alfa Nero, was also identified as blocked property. Also sanctioned was his son Andrey Andreevich Guryev and his son's Russian investment firm Dzhi AI Invest OOO.Viktor Filippovich Rashnikov, one of Russia's largest taxpayers, and two subsidiaries of his MMK, which is among the world's largest steel producers, also were slapped with sanctions, AFP reported.   ""As innocent people suffer from Russia's illegal war of aggression, Putin's allies have enriched themselves and funded opulent lifestyles,"" Treasury Secretary Janet Yellen said in a statement.""Together with our allies, the United States will also continue to choke off revenue and equipment underpinning Russia's unprovoked war in Ukraine.""The State Department also imposed additional visa restrictions and other sanctions.In April, the U.S. imposed sanctions on Putin's adult daughters Katerina Vladimirovna Tikhonova and Maria Vladimirovna Vorontsova. In: Vladimir Putin Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Vladimir Putin's rumored girlfriend Alina Kabaeva hit with new round of U.S. sanctions.
"All three major averages fall Tuesday for second day in a rowThe S&P 500, Dow Jones Industrial Average and the Nasdaq Composite slumped Tuesday, unable to hold onto earlier gains.The S&P 500 slipped 0.66% to 4,091.35 after being down nearly 1% earlier in the session. The Dow Jones Industrial Average also shed 401.64 points, or 0.90%, to 32,396.76, weighed down by Caterpillar, which shed more than 3% after reporting disappointing quarterly earnings. The Nasdaq Composite fell 0.16% to 12,348.76, even though Uber jumped 18.9% following earnings.— Carmen ReinickeCaterpillar, Boeing lead Dow to the downsideThe Dow is lagging the S&P 500 and Nasdaq in Tuesday's session, and most of the stocks in the 30-name average are in the red. The worst performers in the Dow come from the industrials sector. Shares of Caterpillar are down more than 5% after the company's second-quarter revenues came in below expectations, while Boeing has dropped nearly 3%.Elsewhere, Shares of Visa are down more than 2%, as are shares of Intel.Insurance stock Travelers is the only Dow name up at least 1%. —Jesse PoundStocks mixed in last hour of trading An hour before the closing bell, stocks were mixed with the S&P 500 and Dow Jones Industrial Average down 0.31% and 0.89%, respectively. The Nasdaq Composite was still in the green, however, up 0.20%, boosted by Uber's more than 18% jump following earnings. — Carmen ReinickeETF flows showed big pivot to growth in JulyLast month's rally for growth stocks was due in part to a historic divide in ETF flows, according to Strategas ETF strategist Todd Sohn.""Notably, the monthly spread between Growth inflows and Value outflows was the largest in our dataset history,"" Sohn wrote in a note to clients on Tuesday. The data goes back to 2009.In particular, the iShares Russell 1000 Value ETF saw roughly $800 million in outflows last month, according to Strategas.However, value has still attracted more flows than growth since March 2020, thanks to massive flows earlier this year, according to Strategas.— Jesse PoundFed officials trying to cool market's rally, analyst saysFederal Reserve officials appear to be downplaying the chances of a Fed pivot in their comments this week, according to John Luke Tyner, a portfolio manager and fixed income analyst at Aptus Capital Advisors. Tyner said that Fed speakers, including San Francisco Fed President Mary Daly earlier today, are ""probably trying to walk back the move that we've seen in risk assets.""""When you have this rebound in risk assets that we've seen, really what that's telling me is the Fed has done nowhere enough damage to make the mark that they need to slow down inflation,"" Tyner said.He also pointed to an increase in the 5-year breakeven inflation metrics as an area that would likely concern the Fed.— Jesse PoundCiti raises Tesla's price targetCiti raised Tesla's price target, to $424 from $375, citing some better-than-expected second quarter earnings results, as well as easing commodity costs for automakers. Still, the investment firm maintained a sell rating on the electric vehicle maker. ""We are moderately raising our estimates to reflect the Q2 EPS beat on continued strong execution and non-automotive upside,"" analyst Itay Michaeli wrote in a Monday note. Automakers have been forced to raise prices on vehicles as they deal with a surge in commodities costs for materials such as cobalt, lithium and nickel, which have more than doubled during the pandemic. Still, Tesla CEO Elon Musk wrote in a July 28 tweet: ""Inflation might be trending down. More Tesla commodity prices are trending down than up fwiw."" Tesla shares were up more than 1%. — Sarah MinMester sees 'more work to do' on controlling inflationCleveland Fed President Loretta Mester takes part in a panel convened to speak about the health of the U.S. economy in New York November 18, 2015.Lucas Jackson | ReutersCleveland Federal Reserve President Loretta Mester said more progress is needed on inflation before the central bank can relax.In an interview with the Washington Post, the policymaker said there's ""more work to do"" on inflation, which is running at its highest level since the early 1980s. She added that she would need to see ""compelling evidence"" that inflation is slowing on a month-over-month basis, and would look for not only a peak but also signs that the cost of living is moving lower.Her comments come the same day as fellow regional Fed presidents Mary Daly of San Francisco and Charles Evans of Chicago said they also think there are more hikes ahead. Evans tempered his remarks with hopes that the Fed may not have to go to extremely restrictive policy to control inflation.—Jeff CoxThe 10-year yield traded in a wide range Tuesday, and may have found a near-term bottomThe 10-year Treasury yield traded in a large, volatile range Tuesday, and possibly has found a near-term bottom, strategists say. The yield was at 2.71% in afternoon trading, coming off a low of 2.52% at about 8:30 a.m. ET, according to Wells Fargo's Michael Schumacher. ""For me, looking out over the next few months, to the end of September, I think yields are a fair amount higher than they are today,"" he said. Yields move opposite price.""I think it probably has bottomed,"" he said, noting the yield could return to the year high of 3.49%.Greg Faranello of AmeriVet Securities said separate comments Tuesday from San Francisco Fed President Mary Daly; Chicago Fed President Charles Evans, and Cleveland Fed President Loretta Mester all reinforced a hawkish tone. That helped yields move higher, as did a report that House Speaker Nancy Pelosi's plane landed safely in Taiwan earlier today.""There's been a little bit of geopolitical nervousness,"" said Faranello. He said Fed officials are pushing back on the view of some investors that the Fed will soon pivot from its hiking policies.""Even Daly, who is a bit of a dove, says we're nowhere near done,"" he said. ""The Fed speak has been 110% unequivocally bearish. There's not even a doubt in my mind.""--Patti DommHousehold debt hits record $16.2 trillion amid inflation burstHousehold debt passed $16 trillion for the first time as Americans paid more for autos and real estate and increasingly used credit cards for their purchases, the New York Federal Reserve reported Tuesday.Total debt rose $312 billion, most of which came from a $207 billion increase in mortgage debt. The total American IOU across all forms rose to $16.15 trillion, a 2% increase.Credit card balances rose the most in more than 20 years over the past 12 months, while non-housing credit balances showed their biggest quarterly gain since 2016. The increases come amid surging inflation and as the Fed raises rates, which makes all forms of debt, particularly mortgages, more expensive.—Jeff CoxLots of bad news already discounted, MRB Partners saysStocks have rallied off their June lows even as strong inflation persists, economic growth slows and the Federal Reserve continues to raise rates. One reason for that may be that the market has already priced in much of the bad news out there, according to research firm MRB Partners. ""After de-rating dramatically in the first-half of this year, many investors fear that a significant decline in corporate profits looms, signaling much more pain ahead for stock prices,"" MRB said in a note Tuesday. ""That said, from our perspective of a mid/late-cycle slowdown, stocks prices have discounted a lot of bad news,"" they said. ""Our comparatively constructive economic outlook implies that the selloff in equities and other risk assets is somewhat overdone and there is room for a partial re-rating, provided interest rate expectations and bond yields remain calm for a period.""They also noted that the Fed will not ""sacrifice the U.S. expansion for the sake of achieving a specific inflation rate at a specific time.""—Fred ImbertChicago Fed President Evans hopes for smaller rate hikes in coming meetings Chicago Federal Reserve Bank President Charles Evans on Tuesday said he thinks the central bank could hand out smaller interest rate increases in coming meetings if inflation continues to tick down. He hopes that the Fed can proceed with a half-percentage point hike in September, he told reporters Tuesday. Following that move, he'd like to see the central bank hand out a series of quarter-percentage-point increases until the start of the second quarter next year. Overall, he said that he thinks the Fed will have to raise rates between 3.75% and 4% by the end of the year. — Carmen ReinickeStocks midday: S&P 500, Nasdaq Positive, Dow slipsStocks were mixed in midday trading. At about 12:30 p.m. ET, the S&P 500 was up 0.4%, having gained from being down as much as 1% earlier in the session. The Nasdaq Composite was also in the green, up 0.89%, supported by a more than 17% jump in Uber. The Dow lagged the other averages and was down about 54 points in the early afternoon. It was dragged lower by shares of Caterpillar, which slipped more than 3% on an earnings miss. — Carmen ReinickeFederal Reserve President remarks lift stocks The S&P 500 and the Nasdaq Composite gained Tuesday afternoon following comments from regional Federal Reserve Bank presidents on what may be ahead in interest rate hikes as the central bank looks to keep inflation in check.San Francisco Fed President Mary Daly on Tuesday said that the bank is ""nowhere near almost done"" with interest rate hikes following the second consecutive 75 basis-point increase at its last meeting.""We have made a good start and I feel really pleased with where we've gotten to at this point,"" she said on CNBC.Later, Chicago Fed President Charles Evans said that a 50 basis-point hike in September would be reasonable, and another 75 basis-point increase would also be ok.— Carmen ReinickeJetBlue slumps after high costs lead to earnings miss — Carmen ReinickeNancy Pelosi lands in TaiwanHouse Speaker Nancy Pelosi landed in Taiwan safely on Tuesday, even amid China's threats that there would be ""serious consequences"" for her visit.The escalating rhetoric left investors somewhat skittish ahead of Pelosi's arrival, with the major U.S. stock averages falling on Tuesday before the landing. The S&P 500 climbed into the green and was last flat in trading shortly after Pelosi arrived as traders bet China allowing the plane to land means tensions would soon ease. The benchmark was down 0.9% earlier in the session.—Fred ImbertDefense contractors catch a bid as Pelosi Taiwan visit loomsPredictably, leading defense contractors caught a bid early Tuesday– bucking a softer stock market elsewhere –as headlines that House Speaker Nancy Pelosi would soon land in Taipei added to geopolitical tensions between the U.S. and the People's Republic of China. Lockheed Martin was ahead 2.4%, Northrop Grumman added 2%, Raytheon Technologies climbed 0.9%, General Dynamics rose 0.6% and Huntington Ingalls advanced 0.1%.—Scott SchnipperBill Ackman calls for further rate hikesBill Ackman, founder and CEO of Pershing Square Capital Management.Adam Jeffery | CNBC Hedge fund manager Bill Ackman said on ""Squawk Box"" that the Federal Reserve needs to hike rates to around 4% or higher in order to fight off inflation.""I think rates are going to need to stay 4%-plus for the foreseeable future — 12 to 18 months, or so — in order to kill this inflation. And they may need to take rates higher,"" Ackman said. ""The biggest risk to the markets is that people are not pricing that in.""Ackman's Pershing Square has interest rate hedges in place that would benefit from short-term rates and the 30-year Treasury yield moving higher, he said.Check out the full interview here.— Jesse PoundJob openings plunge in June The June Job Openings and Labor Turnover Survey, released Tuesday morning by the Bureau of Labor Statistics, showed that job openings fell to 10.7 million. That was much lower than economist expectations of an 11.14 million print.The largest decreases in job openings were in retail trade, wholesale trade and state and local government education.— Carmen ReinickeStocks open lower, led by Dow's 266 point dropStocks opened lower Tuesday as traders digested tensions with China over House Speaker Nancy Pelosi's Taiwan visit, a new round of earnings reports and economic data coming later in the day. The Dow slipped more than 260 points and was weighed down by Caterpillar, which slumped more than 4% on weaker-than-anticipated earnings. The S&P 500 slipped 0.53% and the Nasdaq Composite was down 0.30%. — Carmen Reinicke CNBC's Jim Cramer says inflation has peaked, citing drop in oil prices The economy has reached peak inflation, as shown by the recent drop in oil prices, according to a Tuesday tweet from CNBC's Jim Cramer. ""The speed of the decline in oil i think puts the lie to the notion, again, that we have not had peak inflation,"" Cramer wrote. ""The inflationistas simply refuse to believe it could have peaked regardless of the evidence."" Data pointing to a global manufacturing downturn caused oil prices to slip further from their highs this week, though they recovered somewhat since.—Sarah MinStocks may move higher after Pelosi lands in Taiwan, JPMorgan says Stock markets may shrug off House Speaker Nancy Pelosi's visit to Taiwan Tuesday, especially if there is no immediate reaction from China, JPMorgan wrote in a Tuesday note. ""Senators from both sides of the aisle have visited Taiwan this year, including Democrats Duckworth and Menendez and Republicans Graham and Scott,"" analysts wrote. ""Some of the Chinese response to those visits were military drills in the Taiwan Strait and military plane flyovers of Taiwan."" Thus, parallels to Russia/ Ukraine and the potential for shutting off parts of the global supply chain may be off base, according to the note. ""Today, Pelosi's plane is scheduled to land about an hour after the US opens; it there is no immediate reaction you may see markets move higher,"" JPMorgan analysts wrote. — Carmen ReinickeDon't lose sight of JOLTS data, El-Erian says Investors focused on House Speaker Nancy Pelosi's trip to Taiwan should make sure not to overlook key economic data coming today that could influence the Federal Reserve's path forward, according to Mohamed El-Erian, Allianz chief economic advisor. ""There's so much attention on the US China issue, don't lose sight of the JOLTS data,"" El-Erian said Tuesday on CNBC's ""Squawk Box,"" referring to the Job Openings and Labor Turnover survey due later in the morning. That data is important for the Fed, he added, as they chart their path of potential interest rate hikes. — Carmen ReinickeBank of America says clients have bought stocks for five straight weeksBank of America clients were net buyers of U.S. stocks last week, the fifth straight week of positive inflows, according to a note from strategist Jill Carey Hall. Total inflows were $4 billion, according to the note.""All client groups were buyers this week. Buying was led by institutional clients after selling the week before, while hedge funds and private clients were net buyers for the second and fifth consecutive week, respectively,"" Hall wrote.There was positive net buying in nine of 11 sectors, with Bank of America clients tilting toward cyclical sectors, according to the note.— Jesse PoundPinterest shares still elevated after Elliott Management announces stakeShares of Pinterest were up more than 18% in premarket trading, holding onto a surge from Monday night following activist investor Elliott Management announcing it had taken a stake in the company and was its largest investor. The image-sharing company also reported earnings Monday that disappointed on both earnings and revenue but showed better-than-expected user numbers. — Carmen ReinickeUber surges on earnings revenue beatShares of Uber popped more than 10% in premarket trading after the company reported quarterly earnings that beat Wall Street's expectations for revenue.The company also reported a net loss of $2.6 billion for the quarter, some of which was attributed to investments in Aurora, Grab and Zomato.- Carmen ReinickeImpact of Pelosi trip on marketsMona Mahajan, Edward Jones senior investment strategist, addressed the impact of Pelosi's possible Taiwan visit on markets in a CNBC ""Squawk Box"" appearance Tuesday:""Geopolitical tension has been a theme we've really been seeing all year that has been weighing on markets. ... The risk and the concern is that we have a Russia-Ukraine 2.0, something that's even more severe coming out of China. I think for now it's a tail risk. I do think the trip will not lead to any real economic disruption, but of course the rhetoric and the headlines start to intensify and it's something we need to watch going forward.""—John MelloyCaterpillar drops after reporting earningsCaterpillar shares slid more than 1% after the industrial giant posted mixed quarterly results. The company earned $3.18 per share, beating a Refinitiv consensus forecast of $3.01 per share. However, Caterpillar's revenue of $14.25 billion was just below an estimate of $14.35 billion. —Fred ImbertTreasury yields fall in early tradingU.S. Treasury yields fell in early trading Tuesday ahead of House Speaker Nancy Pelosi's expected trip to Taiwan. The benchmark 10-year rate dropped more than 5 basis points to 2.548%, while the 2-year yield slid to 2.856%.—Fred ImbertOil major BP boosts dividend as quarterly profits jump on high commodity pricesU.K. oil giant BP boosted its dividend on Tuesday as it posted bumper second-quarter profits, benefitting from a surge in commodity prices. Second-quarter underlying replacement cost profit, used as a proxy for net profit, came in at $8.5 billion. The soaring profits gave BP room for a 10% increase in its quarterly dividend payout to shareholders, raising it to 6.006 cents per ordinary share. European stocks retreat, tracking global risk-off sentimentEuropean markets pulled back slightly on Tuesday, tracking risk-off sentiment globally as investors assess whether last month's rally has further to run.The pan-European Stoxx 600 dropped 0.6% by mid-morning in London, with tech stocks shedding 2.1% to lead losses as almost all sectors and major bourses slid into the red. Telecoms gained 0.6%.Earnings remain a key driver of individual share price movement. BP, Ferrari, Maersk and Uniper were among the major European companies reporting before the bell on Tuesday.Chinese stocks drop as tensions rise over Pelosi visitStock futures open flatStock futures opened flat in overnight trading on Monday.Futures tied to the Dow Jones Industrial Average inched 0.06% lower, or 21 points. S&P 500 futures and Nasdaq 100 futures dipped 0.06% and 0.01%, respectively. — Samantha SubinThe upside from here is limited over the next few months, says Truist's LernerInvestors overallocated toward stocks should consider using the current market conditions to trim back their positions as the upside for equities is limited going forward, says Keith Lerner, co-chief investment officer at Truist.According to Lerner, the upside for the market over the next few months is likely capped in the 3% to 5% range, but the downside could exceed that amount.""The market's been very resilient, no doubt, and maybe it stays that way for a little bit, but we don't see the risk-reward as that compelling here,"" he said.This by no means is an indication of the top of the market and equities could squeeze higher, but it is an opportunity to reallocate exposure after last month's strong market rally, Lerner added.-Samantha SubinPinterest shares pop 21% as Elliott Management reveals position as largest investorPinterest shares popped more than 21% after the company posted stronger-than-expected user numbers and Elliott Management revealed it's the largest shareholder in the image-sharing company.Activist investor Elliott said in a statement that it has ""conviction in the value-creation opportunity"" at Pinterest, calling the social media company a ""highly strategic business with significant potential for growth."" ""As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest's next phase of growth,"" Elliott wrote.Despite the stock move, Pinterest missed estimates for the second quarter on the top and bottom lines. Monthly active users for the period came in 2 million above estimates.— Samantha Subin","Stocks fall a second day on U.S.-China tensions, hawkish comments from Fed leaders."
"Brian Chesky, CEO and Co-founder of AirbnbMike Segar | ReutersAirbnb beat Wall Street estimates for earnings and posted revenue that met expectations for the second quarter. The company also announced a $2 billion share buyback program.Airbnb, like Uber, benefited from an increase in consumer spending on activities as opposed to goods. Revenue jumped 58% year-over-year to $2.1 billion helping to drive the company's most profitable second quarter to date. Here are the key numbers:Earnings per share: $0.56 vs. $0.43 expected by analysts, according to Refinitiv.Revenue: $2.10 billion vs. $2.11 billion expected by analysts, according to Refinitiv.Airbnb reported net income of $379 million, up from a loss of $68 million in the year-ago quarter.The company said it tightened spending at the height of the pandemic, which helped make it leaner and more focused, and that it's adapted its business as travel continues to change.Airbnb anticipates record revenue during the third quarter despite headwinds from foreign exchange fluctuations, specifically the weakening euro versus the dollar. It guided third quarter revenue to land between $2.78 billion and $2.88 billion, ahead of StreetAccount's $2.77 billion estimate. The company said it broke a single-day revenue record on July 4, which it says signals a strong summer season ahead.For the second quarter, Airbnb reported more than 103 million nights and experiences booked. It's the company's largest quarterly number ever, but fell short StreetAccount estimates of 106.4 million nights and experiences booked. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, totaled $17 billion in the second quarter, that's up 27% year over year.And while many companies are calling employees back to the office, long-term stays, where guests stay in a home for 28 days or more, remained Airbnb's fastest-growing segment, with 25% growth over the year-ago quarter.The company said gross nights booked for cross-border travel surpassed pre-pandemic levels during the quarter and doubled compared to the same quarter last year.Average daily rates rose 40% when compared to pre-pandemic levels in 2019, reaching $164. That's up 7% from the same quarter a year ago, excluding the effects of currency fluctuations. The company anticipates ADR to be flat in the third quarter on a year-over-year basis.","Airbnb reports record-breaking bookings, announces $2 billion buyback."
"Brian Chesky, CEO and Co-founder of AirbnbMike Segar | ReutersAirbnb on Tuesday beat Wall Street estimates for earnings and posted revenue that met expectations for the second quarter. The company also announced a $2 billion share buyback program.Airbnb, like Uber, benefited from an increase in consumer spending on activities as opposed to goods. Revenue jumped 58% year-over-year to $2.1 billion helping to drive the company's most profitable second quarter to date. Here are the key numbers:Earnings per share: $0.56 vs. $0.43 expected by analysts, according to Refinitiv.Revenue: $2.10 billion vs. $2.11 billion expected by analysts, according to Refinitiv.Airbnb reported net income of $379 million, up from a loss of $68 million in the year-ago quarter.The company said it tightened spending at the height of the pandemic, which helped make it leaner and more focused, and that it's adapted its business as travel continues to change.Airbnb anticipates record revenue during the third quarter despite headwinds from foreign exchange fluctuations, specifically the weakening euro versus the dollar. It guided third quarter revenue to land between $2.78 billion and $2.88 billion, ahead of StreetAccount's $2.77 billion estimate. The company said it broke a single-day revenue record on July 4, which it says signals a strong summer season ahead.For the second quarter, Airbnb reported more than 103 million nights and experiences booked. It's the company's largest quarterly number ever, but fell short StreetAccount estimates of 106.4 million nights and experiences booked. Gross booking value, which Airbnb uses to track host earnings, service fees, cleaning fees and taxes, totaled $17 billion in the second quarter, that's up 27% year over year.And while many companies are calling employees back to the office, long-term stays, where guests stay in a home for 28 days or more, remained Airbnb's fastest-growing segment, with 25% growth over the year-ago quarter.The company said gross nights booked for cross-border travel surpassed pre-pandemic levels during the quarter and doubled compared to the same quarter last year.Average daily rates rose 40% when compared to pre-pandemic levels in 2019, reaching $164. That's up 7% from the same quarter a year ago, excluding the effects of currency fluctuations. The company anticipates ADR to be flat in the third quarter on a year-over-year basis.","Airbnb reports record-breaking bookings, announces $2 billion buyback."
"SummaryNo sign either side giving ground in power struggleTop Iranian commander visits Baghdad amid crisis, sources sayThough tensions are high, sides appear to be avoiding violenceBAGHDAD, Aug 2 (Reuters) - A power struggle in Iraq between the Shi'ite cleric Moqtada al-Sadr and rivals aligned with Iran is testing Tehran's ability to stave off a conflict that could damage its interests and further destabilise the oil-rich country.With Sadr supporters camped out in parliament and his opponents protesting in the streets, the tussle over a new government has put fresh strain on a political system that has been buffeted by crises since U.S.-led forces toppled dictator Saddam Hussein two decades ago.It adds another destabilising factor to a belt of fragile Arab states between Iran and the Mediterranean - Iraq, Syria and Lebanon - all of which fall within Iran's sphere of influence and have suffered major conflict or crisis over the last decade, including the battle with Islamic State.Register now for FREE unlimited access to Reuters.comFor Iraq, where the power balance tilted Iran's way after the U.S. invasion of 2003, the tussle adds to divisions in a country also beset by rivalries among Sunni Arab and Kurdish groups who control the north.So far, neither side seems ready to give ground in the 10-month-old standoff, which began when Sadr emerged victorious from an October election and sought to form a government on his terms, only to be stymied by his foes. read more For now, the sides - both heavily armed - appear to be avoiding violence, aware of the impact this would have on Iraq and the Shi'ite majority that was empowered by the political system the United States built after ousting Saddam, a Sunni.But amid dramatic scenes in Baghdad, where Sadr supporters overran the fortified Green Zone that houses state buildings and embassies at the weekend, many Iraqis are concerned about possible violence. read more In a sign of Iran's concern, one of its senior military commanders, Brigadier General Esmail Ghaani, visited Baghdad in recent days in an effort to keep tensions from escalating, a Western diplomat said.An Iraqi official in the Coordination Framework, an alliance of Iran-aligned factions, confirmed the visit but said Ghaani didn't appear to have succeeded, without giving details.Iran's embassy in Baghdad didn't respond to a request for comment.Ghaani, who heads Iran’s Revolutionary Guards' foreign legions, has struggled to wield the influence of his predecessor, Qassem Soleimani, killed by a U.S. attack in 2020.""Iranian influence has had its ups and downs and has been waning to some extent,"" said Renad Mansour of Chatham House, a think tank. ""This election and government formation process has exposed fragmentation ... among the political parties which makes it very complicated for Iran.""The crisis comes at a difficult moment for Iran elsewhere. The heavily armed Hezbollah and its allies lost a parliamentary majority in Lebanon in a May, though they still have big sway.""NO REVOLUTIONARY""Sadr, heir to a prominent clerical dynasty who fought U.S. forces after the invasion, has long opposed foreign influence. read more He raised the stakes in June when he instructed his lawmakers to quit parliament, ceding dozens of seats to the Iran-aligned factions. Their subsequent moves towards forming a government without Sadr prompted the parliament takeover.Sadr's recent call for unspecified changes to the constitution may indicate he wants to upend the entire system.But some analysts question how much he really wants to change a system that has served him well: Sadr dominates much of the state which employs many of his followers.""Sadr is no revolutionary. He wants the system to go on but with him in a more dominant position,"" said Toby Dodge, a London School of Economics professor.Dodge described the standoff as ""a squabble within an increasingly unpopular elite"" in a country where poor governance and corruption has inflicted power and water cuts, poverty and unemployment on Iraqis, despite enormous oil wealth.Those same conditions fuelled mass protests across Baghdad and southern Iraq in 2019 in which security forces killed hundreds of protesters.""There could be miscalculations and mistakes. But it seems to me that in every stage in this process, either one side or the other has taken steps to avoid violence,"" Dodge said.A GAME CHANGER?The United States maintains around 2,000 troops in Iraq to fight Islamic State remnants, far fewer than the 170,000 U.S. troops there at the height of the occupation.Once involved in backroom dealings over Iraqi government formations, U.S. officials have largely stayed out of such contacts in recent years, according to Iraqi officials.Vali Nasr, a Middle East expert at the Johns Hopkins School of Advanced International Studies in Washington, said Iraq did not appear to be a big U.S. priority.""It (Iraq) was not treated as a game-changer for the region, which it could end up being if Iraq loses the modicum of stability it had,"" he said.""It is too soon to call this a loss for Iran, it may end up being a loss for everybody, and then the question becomes who picks up the pieces afterwards,"" he said.The U.S. State Department did not immediately respond to questions for this story.The U.S. embassy has urged calm and for Iraqi parties to avoid violence and work peacefully to resolve their differences.Hamdi Malik of the Washington Institute think tank noted signs of restraint by both sides, but said conflict was a risk.""Any civil war between Shi'ite groups will have a profound impact not only on ... people in Iraq, but the wider region and even other parts of the world, not least because of the possible disruption in oil supplies, as much of Iraq's oil wealth is located in predominantly Shi'ite parts of the country,"" he said.Register now for FREE unlimited access to Reuters.comEditing by Samia Nakhoul; William MacleanOur Standards: The Thomson Reuters Trust Principles.",Analysis: Crisis in Iraq tests its stability and Iran's sway.
"Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever.Shares of Uber closed the day up 18.9%.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. But CEO Dara Khosrowshahi said in a prepared statement that Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services.The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. ""Driver engagement reached another post-pandemic high in Q2, and we saw an acceleration in both active and new driver growth in the quarter,"" Khosrowshahi said in prepared remarks. ""Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber. Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia.""Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Khosrowshahi said on a call with investors that new driver sign-ups were up 76% year over year. He said over 70% of drivers said inflation and cost of living played a part in their decision to join Uber.""The most obvious effect of inflation seems to be getting more drivers on the platform,"" Khosrowshahi said on CNBC's ""Squawk on the Street.""Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.","Uber reports another big loss but beats on revenue, shares pop 19%."
"A 7-Eleven convenience store has a sign in the window reading ""Now Hiring"" in Cambridge, Massachusetts, U.S., July 8, 2022. REUTERS/Brian Snyder/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryJob openings drop 605,000 to 10.7 million in JuneRetail, wholesale trade account for decline in vacanciesQuits little changed at 4.2 million; layoffs decreaseWASHINGTON, Aug 2 (Reuters) - U.S. job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade industries, but overall the labor market remains tight, allowing the Federal Reserve to continue raising interest rates.Despite the larger-than-expected decrease in vacancies reported by the Labor Department in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday, the jobs market still favors workers. At least 4.2 million workers voluntarily quit their jobs in June and layoffs declined.Job openings are among several metrics being closely watched by Fed officials. The U.S. central bank has been delivering hefty interest rate hikes in its war against inflation, pushing the economy to the brink of a recession.Register now for FREE unlimited access to Reuters.com""The labor market may be cooling off, but the temperature decline is far from a plunge,"" said Nick Bunker, director of economic research at Indeed Hiring Lab in Washington. ""The outlook for economic growth may not be as rosy as it was a few months ago, but there's no sign of imminent danger in the labor market.""Job openings, a measure of labor demand, were down 605,000 to 10.7 million on the last day of June, the fewest since September 2021, the JOLTS report showed. June's decline was the largest since April 2020, when the economy was reeling from the first wave of the COVID-19 pandemic.Job openings have been declining since scaling a record high of 11.9 million in March. Still, job openings are nowhere near the low levels seen during the Great Recession 13 years ago.Economists polled by Reuters had forecast 11.0 million vacancies. The Fed is trying to dampen demand for labor and the overall economy to bring inflation down to its 2% target.The central bank last week raised its policy rate by another three-quarters of a percentage point. It has now hiked that rate by 225 basis points since March. The economy contracted 1.3% in the first half of the year. Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame, though overall economic momentum has cooled.Stocks on Wall Street were mixed. The dollar rose against a basket of currencies. U.S. Treasury prices fell.NOT RECESSIONARYJob openings decreased by 343,000 in the retail trade sector. The wholesale trade industry had 82,000 fewer vacancies, while state and local government education reported a reduction of 62,000 in openings. Construction, which is highly sensitive to interest rates, saw job openings decrease by 71,000.There were modest declines in manufacturing and leisure and hospitality. Job openings were little changed in professional and business services, and edged up in financial activities.While vacancies fell in all four regions, the decrease was more pronounced in the technology-heavy West, where companies have been laying off workers and rescinding job offers.Hiring slipped to 6.4 million from 6.5 million in May. In June, there were 1.8 jobs for every unemployed person.Reuters GraphicsThe jobs-workers gap fell to 2.9% of the labor force from 3.3% in May. It is down from its peak of 3.6% of the labor force in March, an improvement economists at Goldman Sachs said suggested wage growth should slow in the second half of the year. Annual wage growth in the second quarter was the fastest since 2001. read more In June, about 4.2 million people quit their jobs, down from 4.3 million in May. The quits rate, viewed by policymakers and economists as a measure of job market confidence, was unchanged at 2.8%.There was a modest rise in resignations in manufacturing, retail and wholesale trade industries. But fewer workers quit in financial activities, professional services as well as leisure and hospitality. More people resigned in the South, while fewer did so in the Northeast, Midwest and West.Layoffs slipped to 1.3 million from 1.4 million in May. The layoffs rate was unchanged at 0.9%. Layoffs rose in construction, but dropped in wholesale and retail trade as well as financial services.""The JOLTS report on the whole is one of many labor market indicators that don't look 'recessionary' despite more downbeat signals coming out of some other economic indicators,"" said Daniel Silver, an economist at JPMorgan in New York.Register now for FREE unlimited access to Reuters.comReporting by Lucia Mutikani; Editing by Paul Simao and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.",U.S. job openings fall to nine-month low; labor market holds tight.
"Sports August 2, 2022 / 3:24 PM / AP The NFL has suspended Miami Dolphins owner Stephen Ross and fined him $1.5 million for tampering with Tom Brady and Sean Payton following a six-month investigation stemming from Brian Flores' racial discrimination lawsuit against the league.The league's investigation found the Dolphins did not intentionally lose games during the 2019 season but the team had impermissible communication with Brady and his and Payton's agent, Don Yee. The league announced the findings of the investigation on Tuesday.The Dolphins will forfeit a first-round selection in the 2023 NFL draft and a third-round selection in the 2024 draft. Ross is suspended through Oct. 17. Miami Dolphins owner Stephen Ross looks on prior to a game against the Buffalo Bills at Hard Rock Stadium on October 23, 2016, in Miami Gardens, Florida. Chris Trotman / Getty Images ""The investigators found tampering violations of unprecedented scope and severity,"" NFL Commissioner Roger Goodell said in a statement. ""I know of no prior instance of a team violating the prohibition on tampering with both a head coach and star player, to the potential detriment of multiple other clubs, over a period of several years. Similarly, I know of no prior instance in which ownership was so directly involved in the violations."" The investigation concluded the Dolphins violated the league's anti-tampering policy on three separate occasions. The Dolphins had impermissible communications with Brady as early as August 2019 through the 2020 postseason, while he was under contract to the New England Patriots.Dolphins vice chairman/limited partner Bruce Beal conducted ""these numerous and detailed discussions"" and kept Ross and other team executives informed of his conversations with Brady. The Dolphins again had impermissible communications with both Brady and his agent, Yee, no later than early December 2021 and after the season, while he was under contract to the Tampa Bay Buccaneers.Those discussions focused on Brady becoming a limited partner in the Dolphins and possibly serving as a football executive, although at times they also included the possibility he would play for the Dolphins. The league says Ross and Beal participated in these discussions.Brady briefly retired in February before the seven-time Super Bowl champion chose to return for another season with the Buccaneers.The third tampering violation involved Payton. In January, the Dolphins had impermissible communications with Yee about having Payton serve as Miami's head coach. The Dolphins did not seek consent from New Orleans to have these discussions, which occurred before Payton announced his decision to retire from the Saints. Miami requested permission to speak to Payton for the first time after that announcement but New Orleans declined to grant it. Ross' suspension ends the same day Deshaun Watson is eligible to return from his six-game suspension. A disciplinary officer handed out Watson's punishment on Monday after the Cleveland Browns quarterback was accused by two dozen women in Texas of sexual misconduct during massage treatments. The NFL is mulling whether to appeal that decision.Ross may not be present at the team's facility and may not represent the club at any team or NFL event during his suspension. He also may not attend any league meeting before the annual meeting in 2023, and he is removed from all league committees indefinitely.Beal was fined $500,000 and may not attend any league meeting for the remainder of the year.Regarding Flores' allegations the Dolphins wanted him to ""tank"" games to secure the top draft pick, investigators said the team didn't intentionally lose and neither Ross nor anyone from the team instructed Flores to lose on purpose.However, investigators found Ross expressed several times during the season his belief that draft position should take priority over won-loss record. Flores considered the comments a suggestion that he lose games and expressed his concerns in writing to senior club executives. Ross no longer made any such comments to Flores.Investigators said there are differing recollections about the wording, timing, and context of Flores' claim of a $100,000-a-game offer from the club to tank, but it ""was not intended or taken to be a serious offer, nor was the subject pursued in any respect"" by Ross or anyone else at the club.""I am thankful that the NFL's investigator found my factual allegations against Stephen Ross are true,"" Flores said in a statement. ""At the same time, I am disappointed to learn that the investigator minimized Mr. Ross's offers and pressure to tank games especially when I wrote and submitted a letter at the time to Dolphins executives documenting my serious concerns regarding this subject at the time which the investigator has in her possession. ""While the investigator found that the Dolphins had engaged in impermissible tampering of 'unprecedented scope and severity,' Mr. Ross will avoid any meaningful consequence. There is nothing more important when it comes to the game of football itself than the integrity of the game. When the integrity of the game is called into question, fans suffer, and football suffers.""Goodell chastised Ross for making the comments.""An owner or senior executive must understand the weight that his or her words carry, and the risk that a comment will be taken seriously and acted upon, even if that is not the intent or expectation,"" Goodell said. ""Even if made in jest and not intended to be taken seriously, comments suggesting that draft position is more important than winning can be misunderstood and carry with them an unnecessary potential risk to the integrity of the game. The comments made by Mr. Ross did not affect Coach Flores' commitment to win and the Dolphins competed to win every game. Coach Flores is to be commended for not allowing any comment about the relative importance of draft position to affect his commitment to win throughout the season.""Former U.S. Attorney and SEC Chair Mary Jo White and a team of lawyers from the Debevoise law firm led the NFL's investigation. In: Tampa Bay Buccaneers Miami Dolphins Lawsuit Sports Football deshaun watson NFL Tom Brady Roger Goodell civil rights",NFL suspends and fines Dolphins owner Stephen Ross $1.5 million for tampering with Tom Brady and Sean Payton.
"Starbucks is expected to report its fiscal third-quarter earnings after the bell Tuesday.Here's what Wall Street analysts surveyed by Refinitiv are expecting:Earnings per share: 75 cents expectedRevenue: $8.11 billion expectedThe coffee giant suspended its fiscal 2022 outlook last quarter, citing the uncertainty caused by Covid lockdowns in China, the company's second-largest market. This quarter, analysts are expecting Starbucks' international same-store sales to drop 14.5%, according to StreetAccount estimates.But Wall Street has more upbeat projections for the company's home market, which is expected to report strong same-store sales growth. Still, CEO Howard Schultz will likely face questions about how the chain expects to fare if consumer spending slows down. Restaurant chains like Chipotle Mexican Grill, Olive Garden owner Darden Restaurants and McDonald's have already reported that low-income customers are trading down or visiting less frequently.Starbucks is also facing a union push from its U.S. baristas. More than 200 locations have in favor of unionizing under Workers United, and the union is now pushing the company to extend pay hikes and benefits to unionized stores.Shares of Starbucks have fallen 27% this year, dragging its market value down to $98.37 billion.",Starbucks is about to report earnings. Here's what to expect.
"Pedestrians wait at an intersection near a screen showing footage of Chinese People's Liberation Army (PLA) aircraft during an evening news programme, in Beijing, China August 2, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - The Chinese military has been put on high alert and will launch ""targeted military operations"" in response to U.S. House Speaker Pelosi's visit to Taiwan, China's defence ministry said on Tuesday night.Separately, the People's Liberation Army's Eastern Theatre Command said it will conduct joint military operations near Taiwan from Tuesday night.The exercises will include joint air and sea drills in the north, southwest and southeast of Taiwan, long-range live firing in the Taiwan Strait, and missile test-launches in the sea east of Taiwan, the Eastern Theatre Command said.The defence ministry did not provide details about what the targeted military operations would include, or if they were separate from the exercises announced by Eastern Theatre Command.State news agency Xinhua said earlier on Tuesday the Chinese military would conduct live-firing drills and other exercises around Taiwan from Aug. 4 to Aug. 7.Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian; Editing by Frank Jack Daniel;Our Standards: The Thomson Reuters Trust Principles.",China to launch 'targeted military operations' due to Pelosi visit.
"U.S. August 2, 2022 / 3:06 PM / CBS/AP Survivors begin long recovery after parade shooting Survivors begin long recovery after parade shooting 02:14 An 8-year-old boy whose spine was severed in the shooting at a parade on July 4 has moved to a rehabilitation-focused hospital after spending nearly a month in a Chicago pediatric intensive care unit. Cooper Roberts' family said the boy was moved Sunday to the Shirley Ryan AbilityLab from the University of Chicago's Comer Children's Hospital. The family's statement released Monday said Cooper's medical team will focus on physical and occupational therapy along with other rehabilitation and mental health services. Cooper was among the 48 people wounded when a gunman opened fire on the Highland Park Independence Day parade. His twin brother, Luke, was hit by shrapnel, and his mother was wounded in the leg. Cooper Roberts Roberts family Seven people were killed. Since the shooting, Cooper has undergone at least seven surgeries and is paralyzed from the waist down. In previous statements, his family said he required time on a ventilator and breathing tube after some of those procedures, and he experienced high fevers and other complications. Last month, Anthony Loizzi, a family friend, spoke about the ""several surgeries"" Cooper had undergone since the shooting. ""It's going to be a new normal for him going forward,"" Loizzi said. Loizzi added that Cooper, who loves sports, was asking about his brother Luke and their family's French bulldog, George.Each sign of progress has been celebrated in the family's public updates: Cooper's first time consuming liquids, the first trip outside the hospital doors in a wheelchair, trips to the hospital's play room and a reunion with George. Word of Cooper's move to the rehabilitation hospital this week sparked another burst of financial support for the Roberts family. An online fundraiser reported more than $1.7 million has been raised toward Cooper's care. In a statement last week, their mother Keely asked people to continue praying for Cooper and Luke. ""Their lives are so much more and better than this terrible thing than was done to them,"" she said. ""Their lives are not a tragedy, they are a triumph.""Lake Country prosecutors have charged Robert E. Crimo III with 21 counts of murder, 48 counts of attempted murder and 48 counts of aggravated battery, representing the seven people killed and dozens wounded in the attack. In: Chicago Sports Illinois Shooting Crime Shootings Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",8-year-old boy paralyzed in Highland Park parade attack moves to rehab-focused hospital.
"The Port of New York and New Jersey announced new tariffs on Tuesday related to empty containers and export volume in its battle to decrease container congestion. Both loaded and empty containers that are considered long-dwelling will be subjected to a quarterly ""container imbalance fee."" The tariff will be effective as of September 1, pending the mandatory federal 30-day notice. The Port of New York and New Jersey is the largest port on the East Coast and the third-largest in the nation. Products that were recently processed through customs in July range from BMW motorcycles and dresses for David's Bridal out of China, parts for Plug Power, a gas cooker for Tractor Supply, and a ""12 Days of Beauty Box"" for Target.But just like other ports, the Port of New York and New Jersey has processed record volumes of import containers during the pandemic and has seen these import containers wait longer at the terminals. These containers have clogged land capacity and slowed down port productivity. As a result, more vessels wait at anchor.Under the new tariff, ocean carriers who do not move empty containers out of the port will be charged $100 per container. The port's new container export levels mandate that export volumes must equal or exceed 110% of an ocean carrier's incoming container volume during the same period. If that benchmark is not met, the ocean carrier will be assessed a fee of $100 per container for failing to hit this benchmark. Both loaded and empty containers are included in the import container count. Rail volume is excluded.Record cargo volume, excess containers Surrounding land is also being used by the port to make room for the excess containers. The port created temporary storage for both empty containers and long-dwelling import containers in a 12-acre lot within the Port Newark and the Elizabeth-Port Authority Marine Terminal. The port is also in negotiations and researching additional areas that could be used for storage space.""As we continue to manage record cargo volume and work with our tenants and port stakeholders for the removal of empty containers in a timely manner, we call on all industry stakeholders to find sustainable, long-term solutions to an industrywide problem affecting many U.S. ports,"" said Port Authority Chairman Kevin O'Toole.The decrease in productivity can be seen in the increased travel time of vessels. The increased anchorage times can be tracked in the vessel transit time from China to the Port of New York and New Jersey.""The Port of New York and New Jersey is facing record import volumes, leading to empty containers accumulating in and around the port complex that are now affecting the regional supply chain that is already under stress from various sources across the country,"" said Bethann Rooney, director of the Port Department at the Port Authority of New York and New Jersey. ""We emphatically encourage ocean carriers to step up their efforts to evacuate empty containers quicker and at higher volumes to free up much needed capacity for arriving imports in order to keep commerce moving through the port and the region.""European goods and German port stressesEast Coast ports like New York receive a lot of goods from Europe, where trade has been severely impacted by ongoing labor strife at both ports and rails. Exports bound for the United States are at least two months late.Among the thousands of containers that were imported into the Port of New York and New Jersey in the month of July, according to a review of customs data using ImportGenius, there was wine from Spain, pasta, Prosecco and Giorgio Armani suits from Italy, and furniture from France.Planet, a new contributor to the CNBC Supply Chain Heat Map, captured photos to show the impact of the rail strikes that has left a crush of containers at the rail terminals in Hamburg. Because of extensive cloud cover in July, the comparisons are between May 15, 2022 and June 11, 2022. The buildup of containers can clearly be seen. With the labor strife continuing, the number of containers has grown, according to logistics experts, and that is slowing down trade.Hamburg rail terminal comparisonsPlanet""The rail situation in the Ports of Germany, especially in Hamburg, remains stressed and the congestion is increasing,"" said Andreas Braun, Europe, Middle East, and Africa ocean product director of Crane Worldwide Logistics. Rail operators constantly miss their normal delivery and pick up windows, and can still not deliver laden containers to the terminal earlier than seven days prior to loading. Due to the summer passenger schedule, container train operators have to give right of way to the increased amount of passenger trains, which additionally contributes to the delays. ""At least one week of delays is normal by now however, that can go up to two weeks and the constant threat that you miss the vessel,"" Braun said.The CNBC Supply Chain Heat Map data providers are artificial intelligence and predictive analytics company Everstream Analytics; global freight booking platform Freightos, creator of the Freightos Baltic Dry Index; logistics provider OL USA; supply chain intelligence platform FreightWaves; supply chain platform Blume Global; third-party logistics provider Orient Star Group; marine analytics firm MarineTraffic; maritime visibility data company Project44; maritime transport data company MDS Transmodal UK; ocean and air freight rate benchmarking and market analytics platform Xeneta; leading provider of research and analysis Sea-Intelligence ApS; Crane Worldwide Logistics; and air, DHL Global Forwarding; freight logistics provider Seko Logistics; and Planet,  provider of global, daily satellite imagery and geospatial solutions.",Port of New York and New Jersey adds fees for ocean carriers as shipping containers pile up.
"President Joe Biden is set to sign into law a bipartisan bill to invest billions of dollars in domestic semiconductor manufacturing and science research, with the aim of boosting U.S. competitiveness with China and other foreign rivals.The legislation marks a win for Biden, who campaigned on reaching across the aisle and has pushed Congress to pass the legislation as a matter of necessity for America's economy and national security.Biden, who is suffering from a relapse of Covid, appeared virtually at a ceremony Tuesday with Gov. Gretchen Whitmer, D-Mich., as she signed an executive directive to implement the Chips and Science Act.The bill, dubbed the Chips and Science Act, includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in chip manufacturing. It also provides tens of billions of dollars to fund scientific research and development, and to spur the innovation and development of other U.S. technologies.The House and Senate passed the bill last week with near-unanimous Democratic support. One-third of Republican senators backed the bill, including Senate Minority Leader Mitch McConnell of Kentucky. Two dozen House Republicans also voted for it, though others withdrew their support on the eve of the final vote after Senate Democrats unveiled plans to quickly pass an unrelated partisan reconciliation bill.Democrats want that tax-and-spending package, helmed by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., to come to a vote before Congress leaves Washington, D.C., for the August recess. They hope to pass it without needing Republican votes in the Senate, where the parties are split 50-50 and Vice President Kamala Harris holds the tie-breaking vote.McConnell had previously warned Democrats that GOP lawmakers wouldn't back the semiconductor bill if they continued to work on a reconciliation package. Talks between Schumer and Manchin on such a package had appeared to sputter weeks earlier — but just hours after the Senate voted to pass the Chips and Science act, the Democrats revealed that they had struck a deal.Republicans reacted angrily, and the House minority whip's office instructed GOP members in a late-night memo to oppose the chips bill when it came to a vote Thursday. ""They lied about reconciliation,"" House Minority Leader Kevin McCarthy, R-Calif., said on the morning of the vote.Democrats, meanwhile, celebrated the bill's passage. ""Now it goes to the White House for the president's signature and a better future for our country,"" House Speaker Nancy Pelosi, D-Calif., said in a ceremony at the Capitol on Friday morning.Advocates say it is vital for the U.S. to boost its production of semiconductors, which are increasingly critical components in a vast array of products including consumer electronics, automobiles, health care equipment and weapons systems.Biden also has blamed the chip shortage for the sky-high inflation that has dogged his presidency. A lack of chips available for new car manufacturing has been linked to soaring prices for used cars, which are pushing inflation higher.The chips have been in short supply during the Covid-19 pandemic. Factory shutdowns at the beginning of the outbreak sidelined chip production in Asia while consumer demand for autos and upgraded home electronics that need the chips surged during the lockdowns. The U.S. share of global chip production also has fallen sharply in recent decades, while China and other nations have invested heavily in the industry.The U.S. makes few of the most advanced types of semiconductors, which are largely produced in Taiwan. Pelosi and a delegation of five House Democrats traveled to that island, the source of significant tensions with China, earlier Tuesday as part of an Asian tour.The speaker said the trip is aimed at reaffirming U.S. ties to its regional allies, including Singapore, Malaysia, South Korea and Japan. But China, which asserts control over Taiwan, has deployed increasingly belligerent rhetoric toward the U.S. in response to the tour.Correction: This article was updated to reflect that Biden hasn't yet signed the bill into law.",Biden to sign bill boosting China competition and U.S. chip production.
"If you want Jack Sweeney to stop publicly tracking your private jet on Twitter, take a leaf out of Mark Cuban's book and offer the 19-year-old something better than money: friendship.Sweeney, a sophomore at the University of Central Florida, is the teenager responsible for 30 automated Twitter accounts that collectively track the flights of hundreds of celebrities, politicians and billionaires — from Elon Musk and Kylie Jenner to a series of Russian oligarchs. And since he started his side hustle in June 2020, he says he's only agreed to a single ""stop tracking me"" request.In a February direct message on Twitter, Cuban asked Sweeney to disable @MCubansJets in exchange for his friendship and business advice, according to screenshots reviewed by CNBC Make It. ""He said, 'I'd be your friend,' and I asked if I could meet him at a basketball game,"" Sweeney, 19, tells CNBC Make It.Sweeney says the pair negotiated into May — in the virtual exchange, Cuban said he'd be willing to meet Sweeney at a Dallas Mavericks game next season — before striking a deal. It appears Sweeney has held up his end: The account, which he designed as a bot that updates automatically, hasn't tweeted since April, and its bio says that its code has been disabled.Cuban declined CNBC Make It's request for comment.Sweeney's loyalty appears to come at a price, and friendship may be more valuable than the money some billionaires are willing to pay: In January, Musk offered Sweeney $5,000 to stop tweeting the whereabouts of his private planes. Sweeney declined, asking for $50,000 instead. The account that tracks Musk's flights, @ElonJet, is still active today, with more than 479,000 followers on Twitter.By comparison, Sweeney's @MCubansJets account only has roughly 3,300 followers. Sweeney says that made it easier for him to accept Cuban's takedown request: Ditching the less-popular account in exchange for free networking was a no-brainer.Sweeney says both Cuban and Musk expressed personal safety concerns about the flight tracking, but doesn't see that as a compelling argument: His code only transmits publicly available information from websites like ADS-B Exchange, which post the location, altitude and speed transmitted by every federally regulated aircraft.And, Sweeney adds, celebrities usually aren't particularly private about owning jets in the first place. ""People have the private planes, they post all of these pictures on them,"" he says. ""It's not a secret.""Sweeney says only one other person, a lawyer for venture capitalist Grant Cardone, has asked him to halt flight tracking. Like Cuban, the request came in a direct message on Twitter, according to screenshots reviewed by CNBC Make It. And like @MCubansJets, the @CardoneJet account doesn't have many followers: currently fewer than 2,000.Yet @CardoneJet remains active on Twitter. Sweeney says he never actually responded to the lawyer's request, which didn't offer anything in return for deactivating the account.Sweeney says he hopes to eventually monetize his Twitter accounts, potentially by turning his personal website into an all-in-one celebrity flight tracker or finding a way to offer carbon offsets for some of the flights he tracks. But for now, he adds, he only plans to keep growing the number of flights the code can access.""[I'm motivated] because people are still really interested in this,"" Sweeney says.Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss:The teen tracking Elon Musk’s jet also does Jeff Bezos’ and 125 others: I can make ‘some kind of business out of this’Mark Cuban says this was his worst ‘Shark Tank’ investment ever: ‘Next thing you know, all of the money’s gone’","The jet-tracking teen stopped tweeting Mark Cuban's flights for free, but refused $5,000 from Elon Musk for the same thing."
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryCompaniesSpeaker Nancy Pelosi visits TaipeiCaterpillar falls after missing sales estimatesUber surges after reporting positive cash flowIndexes: S&P 500 -0.13%, Nasdaq +0.29%, Dow -0.70%Aug 2 (Reuters) - Wall Street was mixed in choppy trading on Tuesday, with geopolitical tensions flaring after U.S. House of Representatives Speaker Nancy Pelosi visited Taiwan.Pelosi said her trip demonstrated American solidarity with the Chinese-claimed self-ruled island, but China condemned this first such visit in 25 years as a threat to peace and stability. read more Shares of chipmakers heavily exposed to China were trading mostly higher, rebounding after early declines.Advanced Micro Devices (AMD.O) rallied about 3% ahead of its quarterly report after the bell.Register now for FREE unlimited access to Reuters.comIndustrial bellwether Caterpillar (CAT.N) dropped almost 5% after warning of a bigger drop in demand for its excavators in property crisis-hit China, piling more pain on the industrial bellwether grappling with supply-chain disruptions.Financial markets have also been roiled by the Ukraine war, soaring inflation and tightening financial conditions.U.S. job openings in June fell by the most in just over two years, as demand for workers eased in the retail and wholesale trade industries. Overall the labor market remained tight. read more After the Fed raised interest rates by 75 basis points in July, investors have speculated about whether the central bank's largest hikes are behind it.""The market has to get really comfortable that they have fully baked in all the Fed's rate hikes, and I think that remains an open question,"" said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management in Seattle. ""The challenges and supply constraints aren't necessarily done. They aren't done and gone yet.""Shares of U.S. defense companies Raytheon Technologies Corp (RTX.N), Lockheed Martin Corp (LMT.N), Northrop Grumman Corp (NOC.N) and L3Harris Technologies Inc (LHX.N) rose between 1% and 3%. The United States is Taiwan's main supporter and arms supplier. read more In afternoon trading, the S&P 500 was down 0.13% at 4,113.41 points.The Nasdaq gained 0.29% to 12,404.69 points, while the Dow Jones Industrial Average was down 0.70% at 32,569.39 points.The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, eased from the day's high of 24.68 points. The Philadelphia SE semiconductor index (.SOX) bounced back from losses to rally about 0.6%.A largely upbeat second-quarter reporting season has supported markets recently, with the benchmark S&P 500 index (.SPX)up about 12% from lows hit in mid-June.Uber Technologies Inc (UBER.N) jumped 18% after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit. read more Tesla Inc (TSLA.O)gained 2.7% after Citigroup hiked its price target on the electric car maker's stock.Pinterest Inc (PINS.N) surged almost 13% after activist investor Elliott Investment Management became the largest shareholder of the digital pin-board firm. read more Across the U.S. stock market (.AD.US), advancing stocks outnumbered falling ones by a 1.0-to-one ratio.The S&P 500 posted 2 new highs and 30 new lows; the Nasdaq recorded 37 new highs and 61 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Anil D'Silva, Arun Koyyur and David GregorioOur Standards: The Thomson Reuters Trust Principles.",Choppy trading on Wall Street as Pelosi visits Taiwan.
"Insta_photos | Istock | Getty ImagesMany Americans are pessimistic about the future of Social Security, and the pandemic has made it even worse.A recent survey found 59% of people now worry more about Social Security running out of funding than they did before the onset of Covid-19, according to Nationwide Retirement Institute.And that is changing their outlook on one of the biggest decisions they will make in their lives — when to claim Social Security retirement benefits.More from Personal Finance:More Americans plan to tap Social Security earlyTax increases may be sticking point in Social Security reform10.5% Social Security cost-of-living adjustment seen for 2023Almost 1 in 5, or 19%, of survey respondents said Covid-19 has changed their plans to file for Social Security benefits, with 9% planning to file earlier and 11% delaying filing.Meanwhile, 42% of respondents plan on filing for Social Security benefits early while continuing to work, up from 36% who said the same in 2021.Yet a recent Social Security trustees annual report that was the first to consider the effects of the pandemic struck a slightly more optimistic tone. The report projected a new depletion date of 2035 for the program's funds, one year later than had been projected in 2021. Assuming Congress takes no action in the intervening years, at that time, 80% of benefits will be payable.The depletion date for the fund dedicated solely to retirement benefits (the Old-Age and Survivors Insurance trust fund) was also bumped to one year later to 2034, at which point 77% of benefits will be payable.To get an idea of how much of a haircut your retirement benefits may take, using a reputable Social Security calculator may help.How to calculate the impact of a benefit cutCovisum, a provider of Social Security claiming software, recently updated its calculator to reflect the Social Security trustees' latest projections. That includes a free version for consumers and a more complex paid version for financial advisors.Another product, Maximize My Social Security, lets consumers evaluate which claiming strategy might best suit them for a $40 annual fee. It also has a separate version for financial advisors.The free Covisum calculator can help individuals do a quick calculation based on their benefits alone and some key facts — year of birth, full retirement age benefit amount, percentage of the benefit cut and the year that benefit cut occurs.So someone turning their full retirement age this year, for example, can calculate the effect of a 23% reduction in benefits starting in 2034, as well as the effect of no benefit cut. For each scenario, the calculator will show the value of claiming either at age 65 or age 70, and when beneficiaries stand to get the maximum amount possible from the program. As beneficiaries live longer, the value of waiting to claim until 70 goes up, as demonstrated in the difference in total benefits per the tool's calculations.To be sure, the free calculator is just a starting point when it comes to getting a sense of the trade-offs when claiming Social Security, according to Joe Elsasser, founder and president of Covisum.Because there are thousands of Social Security claiming rules, a more in-depth analysis can help identify the best way to get the most from the program for your unique situation.For example, married couples really should coordinate their benefit choices, Elsasser emphasized.""Couples should make the decision together because on the first death the smaller benefit goes away and the larger benefit continues,"" Elsasser said.Why it's smart to 'plan under current rules'It's also important to remember the current depletion date projections are subject to change, as the Social Security trustees amend their projections each year.Moreover, Congressional legislation could change the program's funding status before that date. That may include higher taxes, benefit cuts or a combination of both. Washington Democrats have put forward proposals that call for raising taxes on the wealthy while making benefits more generous.For his part, Elsasser doesn't tell his clients to plan for a benefit cut. ""We advise them to plan under current rules, because in the past, there's always been a compromise,"" he said.",Want to know how a Social Security benefit cut would affect you? There are calculators for that.
"Register now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British Airways has halted ticket sales for short-haul flights which depart from London's Heathrow airport before the middle of this month, following the airport's decision to cap capacity to tackle widespread disruption and cancellations.The IAG (ICAG.L)-owned airline said on Tuesday that the sales suspension for domestic and European destinations was designed to leave capacity for existing customers to rebook flights if needed.The airline's website showed no tickets for flights departing before Aug. 16 to popular European destinations, including Paris, Milan and Amsterdam.Register now for FREE unlimited access to Reuters.comA British Airways spokesperson declined to comment on exactly how long the sales pause would last, or the destinations affected, but said the airline was seeking to manage capacity restrictions which Heathrow had said would last until Sept. 11.""We've been taking responsible action by limiting sales ... on some of our Heathrow services to ensure more seats are available to rebook customers,"" he said.Tail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville/File PhotoHeathrow told airlines on July 12 to limit the number of tickets they sold for flights departing over the next two months in order to cap the total number of passengers flying at 100,000 a day and limit queues, delays and cancellations. read more Amsterdam's Schiphol airport has taken similar action.Airlines and airports across Europe have struggled to cope with the rebound in post-lockdown travel, with many failing to recruit enough staff to handle check-ins and baggage handling.On July 6 BA said it would reduce its summer schedule and ""consolidate some of our quieter services"". read more Heathrow said last week that the cap had delivered a marked improvement in punctuality and baggage handling.Register now for FREE unlimited access to Reuters.comReporting by Kate Holton and Muvija M; Editing by Kylie MacLellan and David MillikenOur Standards: The Thomson Reuters Trust Principles.",BA halts ticket sales for many flights leaving Heathrow before mid-August.
"Taliban fighters drive a car on a street following the killing of Al Qaeda leader Ayman al-Zawahiri in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The CIA drone strike that killed Al Qaeda leader Ayman al-Zawahiri delivered a long-sought win for U.S. President Joe Biden's counter-terrorism strategy, officials and experts said on Tuesday, but also sharpened concerns about militants' presence in Afghanistan.As the last U.S. troops and intelligence officers left Afghanistan last August after 20 years of war, Biden shifted to an ""over-the-horizon"" strategy of relying on drones and spy planes to track and hit al Qaeda and Islamic State militants inside the country.The CIA strike on Sunday in downtown Kabul, the first publicly known of its kind since the pullout, gives Biden a rare accomplishment less than a month from the anniversary of the chaotic exit that saw the Taliban regain power, 13 U.S. troops killed, and tens of thousands of at-risk Afghans left behind.Register now for FREE unlimited access to Reuters.com""It's a pretty straightforward success story,"" said Michael Kugelman, senior associate for South Asia at the Wilson Center think-tank.The United States had failed to kill Zawahiri, who helped coordinate the Sept. 11, 2001, attacks on the U.S. and was Osama bin Laden's successor, while U.S. forces were on ground, but proved it could hit him nearly a year after the withdrawal, Kugelman said.""I was critical of President Biden's decision to leave Afghanistan, but this strike shows we still have the capability and will to act there to protect our country,"" U.S. Representative Tom Malinowski, a Democrat, said on Twitter.But U.S. officials, speaking on the condition of anonymity, said there still are shortcomings in the strategy. They pointed out that without basing agreements in neighboring countries, U.S. drones have a difficult time monitoring targets in remote parts of landlocked Afghanistan for long periods.One U.S. official said the Zawahiri strike would be difficult to replicate throughout Afghanistan without the human intelligence networks nurtured during the 20-year U.S. presence.""This was a model strike,"" said Neha Ansari, a Washington-based counterterrorism analyst who focuses on drone warfare.Ansari said the operation required good intelligence, countries' likely allowing the United States the rights to fly drones through their airspace, and a precise location. But it is an open question if those perfect conditions would persist, she added.An illustration of the difficulty of intelligence-gathering in Afghanistan came in 2015 while thousands of U.S.-led troops were on the ground, when U.S. military officials were surprised to discover a massive al Qaeda training camp in southern Kandahar province.""We don't know what we don't know,"" the U.S. official added.The use of CIA drones to hit Zawahiri points to a secret overflight agreement with a neighboring country, something the U.S. military does not have.The CIA declined to comment on the operation.'RINGING ALARM BELLS'Zawahiri's presence in Kabul, just blocks from the abandoned U.S. Embassy, raises questions about the presence of Islamist militant groups under Taliban rule.The strike pointed to a flaw in the 2020 withdrawal deal that the United States signed with the Taliban, which allows al Qaeda and other militant groups to remain in Afghanistan as long as they are not training, fund-raising or plotting attacks.Late last year, the U.S. intelligence community assessed that Islamic State's local affiliate - known as ISIS-K - could have the capability to attack the United States in as little as six months, although the Taliban and Islamic State militants are enemies. read more Before last year's withdrawal, top U.S. military leaders said groups like al Qaeda could pose a threat from Afghanistan to the U.S. homeland and American allies by 2023. read more A United Nations report last year said as many as 500 al Qaeda fighters were in Afghanistan and that the Taliban maintained a close relationship with the Islamist extremists.A U.S. military official said while Zawahiri had largely become a figurehead in recent years, there was still concern the group could grow with the Taliban providing them safe-haven.Daniel Hoffman, a former senior CIA covert operations officer and station chief, said the presence of Zawahiri and other al Qaeda militants in Afghanistan should be ""ringing alarm bells.""""Afghanistan is a clear and present danger. And it has never been more dangerous to the United States of America, I'm sorry to say, than it is right now,"" Hoffman said.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jonathan Landay;
Editing by Mary Milliken and Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.","Zawahiri strike gives Biden counter-terrorism strategy boost, but concerns persist."
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - More than 30 years ago, U.S. Representative Nancy Pelosi angered China's government by showing up in Tiananmen Square and unfurling a banner honoring dissidents killed in the 1989 protests. read more On Tuesday, as speaker of the House of Representatives, Pelosi disregarded China's fiery warnings and landed in Taiwan to support its government and meet with human rights activists.Pelosi's trip to Taiwan capped her decades as a leading U.S. critic of the Beijing government, especially on rights issues, and underscores the long history of the U.S. Congress taking a harder line than the White House in dealings with Beijing.Register now for FREE unlimited access to Reuters.comSecond in line for the presidency after Vice President Kamala Harris, Pelosi became the most senior U.S. politician to travel to Taiwan since then-Speaker Newt Gingrich in 1997. She led a delegation of six other House members.In 1991, two years after China's bloody crackdown on pro-democracy demonstrations, Pelosi and two other U.S. lawmakers unfurled a banner in Tiananmen reading, ""To those who died for democracy in China.""Police closed in, forcing them to leave the square.In 2015, she took a group of House Democrats to Tibet, the first such visit since widespread unrest in 2008. Pelosi has regularly spoken out about human rights issues in Tibet and has met the Dalai Lama, whom Beijing reviles as a violent separatist.China views visits by U.S. officials to Taiwan as sending an encouraging signal to the island's pro-independence camp. Washington does not have official diplomatic ties with Taiwan but is legally bound to provide it with the means to defend itself.Kharis Templeman, a Taiwan expert at Stanford University's Hoover Institution, said Pelosi, who is 82, would be looking to cement her legacy, while signaling support for Taiwan against pressure from Beijing.""And what better person to send that signal than the speaker of the House herself? So she's in a very powerful symbolic position to take a stand against the CCP,"" Templeman said, referring to the Chinese Communist Party.Beijing considers Taiwan part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide its future.Chinese foreign ministry spokesman Zhao Lijian said a trip would lead to ""very serious developments and consequences.""Taiwan Foreign Minister Joseph Wu welcomes U.S. House of Representatives Speaker Nancy Pelosi at Taipei Songshan Airport in Taipei, Taiwan August 2, 2022. Taiwan Ministry of Foreign Affairs/Handout via REUTERS Analysts said Beijing's response was likely to be symbolic. ""I think China has tried to signal that their reaction would make the U.S. and Taiwan uncomfortable, but would not cause a war,"" said Scott Kennedy, a China analyst at Washington's Center for Strategic and International Studies.HARD LINE IN CONGRESSCongress has long taken a harder line on Taiwan than the White House, no matter whether Democrats, such as President Joe Biden and Pelosi, or Republicans are in charge.Republicans supported Pelosi's trip. ""Any member that wants to go, should. It shows political deterrence to President Xi,"" Representative Michael McCaul, the top Republican on the House Foreign Affairs Committee, told NBC News. McCaul said he was invited to join Pelosi's Asia trip but was unable to do so.The executive branch takes ultimate responsibility for foreign policy but relations with Taiwan are one area where Congress wants influence. The Taiwan Relations Act, which has guided relations since 1979, passed Congress with an overwhelming majority after lawmakers rejected a proposal from then-President Jimmy Carter as too weak.Democrats and Republicans in the U.S. Senate are working on a bill that would overhaul that policy, including by increasing military support for Taiwan and expanding Taipei's role in international organizations. read more Pelosi's trip and Beijing’s reaction have pushed the White House to once again express - including in a call between Biden and Chinese President Xi Jinping last week - that it has no desire to change the status quo.Biden cast doubt publicly on the wisdom of the trip last month in a rare break with Pelosi, a close ally.""I think that the military thinks it's not a good idea right now, but I don't know what the status of it is,"" Biden told reporters.Pelosi's office refused ahead of the visit to rule out or confirm a possible stop by the speaker, citing security concerns typical for top U.S. officials.Pelosi announced on Sunday that she was leading a congressional delegation to Singapore, Malaysia, South Korea and Japan ""to reaffirm America's strong and unshakeable commitment to our allies and friends in the region.""U.S. defense officials played down the risk of China's military interfering with Pelosi's visit, but they worried that an accident could spiral into a larger conflict.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle and Michael Martina; additional reporting by Idrees Ali and Trevor Hunnicutt; editing by Mary Milliken and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Taiwan visit caps Nancy Pelosi's long history of confronting Beijing.
"IAEA Director General Rafael Mariano Grossi speaks at a news conference about developments related to the IAEA's monitoring and verification work in Iran, in Vienna, Austria June 9, 2022. REUTERS/Lisa Leutner/File PhotoRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 2 (Reuters) - The head of the U.N. nuclear watchdog said on Tuesday ""good words"" from Iran are not enough to satisfy international inspectors and he hopes Tehran is ready to be transparent about its nuclear program, which was ""moving ahead very, very fast"".International Atomic Energy Agency chief Rafael Grossi spoke when asked about the IAEA's role in monitoring any revival of Iran's 2015 nuclear deal with world powers under which it curbed its nuclear program in return for economic sanctions relief.Iran and the United States have so far failed to resurrect the deal and Grossi said Iran must grant IAEA inspectors access ""commensurate to the size"" of its uranium enrichment program if the agency is to credibly assure that it is peaceful.Register now for FREE unlimited access to Reuters.com""""When it comes to nuclear, good words will not do it. What you need to do is to be transparent and compliant and work with us. We are ready and I hope they will be as well,"" Grossi told reporters at the United Nations.""They have a very ambitious nuclear program that needs to be verified in the appropriate way. The program is moving ahead very, very fast and not only ahead, but sideways as well, because it's growing in ambition and in capacity.""Then-U.S. President Donald Trump reneged on the nuclear deal in 2018, restoring harsh U.S. sanctions designed to squeeze Iran's oil exports and prompting Tehran to start abandoning the agreement's nuclear limits about a year later.On Monday, Iran's nuclear energy organisation chief said it had the technical capability to produce an atomic bomb but no intention of doing so. read more Iran is already enriching uranium to up to 60% fissile purity, far above a cap of 3.67% set under the now tattered 2015 deal. Uranium enriched to 90% is suitable for a nuclear bomb.Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols at the United Nations and by Arshad Mohammed in Saint Paul, Minn.; Editing by Chris Gallagher and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.","'Good words' not enough, IAEA hopes for transparency from Iran."
"A cooldown in the job market is underway: The number of job openings dropped in June while near-record numbers of people continued to quit and get hired into new roles, according to the Labor Department's latest Job Openings and Labor Turnover Summary.The labor market posted 10.7 million new job openings in June, which is down from 11.3 million in May but also much higher than a year ago and a more than 50% increase from before the pandemic. Despite the drop, there are still roughly 1.8 open jobs for every person who is unemployed.Meanwhile, workers are continuing to leverage the market and make moves: 6.4 million people were hired into new jobs, and 4.2 million voluntarily quit — leveling off from record highs but still extremely elevated.The job market cooldown is ""far from a plunge,"" says Nick Bunker, director of economic research at Indeed Hiring Lab.""The labor market is loosening a bit, but by any standard it is still quite tight,"" Bunker adds. ""The outlook for economic growth may not be as rosy as it was a few months ago, but there's no sign of imminent danger in the labor market.""People are concerned about the future of jobs but are still quitting nowWorkers are growing more concerned about having their pick of jobs in the months to come, but it's not stopping many of them from calling it quits right now. The share of people who left their jobs voluntarily in June make up 2.8% of the workforce.Workers' confidence in the job market decreased slightly in June and July compared with May, according to a ZipRecruiter index measuring sentiment across 1,500 people. The index also showed an uptick in job-seekers who believe there will be fewer jobs six months from now, a decrease in people who say their job search is going well and a slight increase in people who feel financial pressure to accept the first job offer they receive.People may also be spooked by headlines of big-name companies, especially ones across tech and housing sectors that saw Covid-era growth, announcing layoffs, hiring freezes and rescinded job offers in recent months.Bunker recognizes ""there are pockets of the economy and labor market going through turbulence,"" he says, ""but they're for the most part concentrated pockets.""These workers may also be getting hired into new jobs pretty quickly. The national unemployment rate held steady at 3.6% in June.Looking ahead, Bunker expects to see payroll growth and expanding employment in the jobs report out Friday. ""If you're thinking of switching jobs, it's still a good time,"" he says, adding that job-seekers may focus more on going to an industry, sector or employer with a ""strong economic outlook.""A hiring slowdown doesn't indicate an inevitable recessionIn contrast with strong job numbers, economists and consumers alike are worried about a potential recession.""We have a paradox in our economy because of conflicting signals,"" says Andrew Flowers, a labor economist at Appcast and research director at Recruitonomics.For example, the share of people filing for unemployment insurance has ticked up in recent weeks. But according to the Labor Department's report, layoffs stayed just under 1% in June, near record-lows.Bunker says inflation concerns are likely to blame, but reasons for ""heightened concern about a recession have not fully materialized yet.""Flowers says the latest jobs numbers signal more of an economic slowdown than a recession. And even so, lower hiring demand might not result in mass layoffs.""Should people be worried? Right now, it's unclear,"" Flowers says. ""My message to job-seekers and workers is that it's not clear this economic slowdown will result in a material increase in unemployment.""He adds: ""As the economy shifts to a lower gear of growth, which is the Fed's intention, that doesn't mean we'll suddenly have 10% unemployment.""Check out:It's worth it to bring up inflation at work, even if you don't get a raise nowWhat's a good salary or raise to ask for right now? How to find your number in this wild job market3 reasons your recruiter ghosted you, according to a hiring proSign up now: Get smarter about your money and career with our weekly newsletter",4.2 million people quit in June despite recession worries: 'A paradox in our economy'.
"U.S. August 2, 2022 / 1:47 PM / CBS/AP At least two killed in California wildfire At least two killed in California wildfire 02:32 At least four people have died and more than 100 homes, sheds and other buildings have burned in California's McKinney Fire since it erupted last Friday, officials said. Rain on Sunday and Monday helped firefighters as they worked to control the spread of the fire, but the blaze remained out of control, authorities said.On Monday, search teams found two bodies at two separate homes along Route 96, within the fire's perimeter, bringing the death toll to four, authorities said.Earlier Sunday, two bodies were found inside a charred vehicle in the driveway of a home west of Yreka near the tiny unincorporated community of Klamath River, which sustained major damage, the Siskiyou County Sheriff's Office said in a statement. Other details were not immediately disclosed. ""It's really tragic when a fire gets up and moves this fast and basically takes out a community. And that's what happened in the Klamath River area,"" Mike Lindbery, a spokesperson with the fire's incident management team, said Tuesday. ""And unfortunately it didn't only take out a community, it took the lives of two people.""The blaze in Northern California near the state line with Oregon has burned more than 55,000 acres, and is the largest of several wildfires burning in the Klamath National Forest. A smaller fire near the tiny community of Happy Camp forced evacuations and road closures as it burned out of control Tuesday. Still more fires are raging in the Western U.S., threatening thousands of homes. Sheriff's Deputy Johnson stands at a burned home as search and rescue workers recover the remains of a McKinney Fire victim on Monday, Aug. 1, 2022, in Klamath National Forest, Calif. Noah Berger / AP When ash began to fall and his throat was burning from the smoke, Franklin Thom decided it was time to leave the small city where he grew up on the edge of a national forest in California. He made it to a shelter with his daughter and just his medicine, some clothes and his shower shoes. Unlike some others, he was told that he had escaped California's largest fire of the year with his home in Yreka still standing.""Keep your prayers out for us,"" said Thom, 55.In northwestern Montana, a fire that started Friday near the town of Elmo on the Flathead Indian Reservation has burned some structures, but authorities said they didn't immediately know if any were homes. The blaze measured 25 square miles on Tuesday, with 10% containment, fire officials said. Some residents were forced to flee Monday as gusting afternoon winds drove the fire.The Moose Fire in Idaho has burned more than 85 square miles in the Salmon-Challis National Forest while threatening homes, mining operations and fisheries near the town of Salmon. It was 23% contained Tuesday, according to the National Interagency Coordination Center. Flames burn to the Klamath River during the McKinney Fire in the Klamath National Forest northwest of Yreka, California, on July 31, 2022. David McNew/AFP via Getty Images And a wildfire raging in northwestern Nebraska led to evacuations and destroyed or damaged several homes near the small city of Gering. The Carter Canyon Fire began Saturday as two separate fires that merged. It was more than 30% contained by Tuesday. California's McKinney Fire grew to become the state's largest wildfire so far this year after it was fed by weekend winds gusting to 50 mph.Cloudy weather and scattered rain continued to help firefighters Tuesday as bulldozers managed to ring the small and scenic tourism destination city of Yreka, with firebreaks. Crews carving other firebreaks in steep, rugged terrain also made progress, fire officials said.The blaze was holding about 4 miles from downtown Yreka, population about 7,500.""We've got the weather,"" said Todd Mack, an incident fire commander with the U.S. Forest Service. ""We've got the horsepower. And we're getting after it.""But lightning over the weekend also sparked several smaller fires near the McKinney Fire. And despite the much-needed moisture, forests and fields in the region remained bone-dry.Among those waiting out the fire at the shelter in Yreka on Monday was Paisley Bamberg, 33. She arrived a few months ago from West Columbia, South Carolina, and had been living in a motel with her six children, ranging in age from 15 to 1-year-old twins, when she was told to evacuate.""I started throwing everything on the top of my truck,"" but had to leave many things behind, she said. An old Coca-Cola refrigerator lies in the ruins of a property in the community of Klamath River, which burned in the McKinney Fire in Klamath National Forest, northwest of Yreka, California, on July 31, 2022. David McNew/AFP via Getty Images Bamberg said she had just been hired at an Arby's restaurant and wondered if it will survive the fire. ""There might not be much there when we get back,"" she said. ""I don't know if I have a job. The kids were supposed to start school and I don't know if the school is still standing.""Bamberg added: ""I'm trying to keep up my spirits. I have six little humans that are depending on me. I can't break down or falter.""About 2,500 people were under evacuation orders but Thom said he knew many people remained in Yreka.""There's still a lot of people in town, people who refused to leave,"" he said. ""A lot of people who don't have vehicles and can't go. It's really sad.""Thom has lived in Yreka all his life but said it was the first time he had been threatened by a wildfire.""I never thought it would ever happen,"" he said. 'I thought, 'We're invincible.' ... This is making a liar out of me.""Scientists have said climate change has made the West warmer and drier over the last three decades and will continue to make weather more extreme and wildfires more frequent and destructive. The U.S. Forest service shut down a 110-mile section of the famed Pacific Crest Trail in Northern California and southern Oregon. Authorities helped 60 hikers in that area evacuate on Saturday, according to the Jackson County Sheriff's Office in Oregon. In: Wildfire California Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Death toll in McKinney Fire, California's largest, rises to 4."
"The Idaho State Capitol building is seen in Boise, Idaho, U.S., October 29, 2021. REUTERS/Shannon StapletonRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The United States sued Idaho on Tuesday over a state law that it says imposes a ""near-absolute ban"" on abortion and also sought to block the Western state from prosecuting or disciplining doctors, according to a court filing.The lawsuit, filed in U.S. District Court for Idaho, seeks a preliminary and permanent injunction against the state prohibiting enforcement of the law and asked the court to rule that the state law violates federal statutes.The lawsuit also alleges the state law interferes with the United States’ pre-existing agreements with hospitals under Medicare, referring to the federal health care program for seniors.Register now for FREE unlimited access to Reuters.com""Today, the Justice Department's message is clear... if a patient comes into the emergency room with a medical emergency jeopardizing the patient's life or health, the hospital must provide the treatment necessary to stabilize that patient,"" U.S. Attorney General Merrick Garland said at a news conference in Washington announcing the filing.""This includes abortion, when that is the necessary treatment,"" Garland added.Tuesday's lawsuit marks the Justice Department's first legal battle over reproductive rights since the Supreme Court in June overturned the landmark 1973 Roe v. Wade ruling which recognized women's constitutional right to abortion.Idaho in March became the first state to enact a six-week abortion ban modeled on a Texas law that empowers private citizens to sue abortion providers.The law bans abortion before many women know they are pregnant and is modeled after Texas' six-week abortion ban.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch and Doina Chiacu; editing by Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.",U.S. sues Idaho over state law that imposes 'near-absolute ban' on abortion.
"Abortion rights protesters participate in nationwide demonstrations following the leaked Supreme Court opinion suggesting the possibility of overturning the Roe v. Wade abortion rights decision, in Atlanta, Georgia, U.S., May 14, 2022. REUTERS/Alyssa PointerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Pregnant women in the U.S. state of Georgia will be able to deduct their fetuses as dependents on their taxes under a 2019 anti-abortion law that a judge allowed to go into effect last month, the state said.The state's tax agency said on Monday that any woman whose fetus has a detectable heartbeat as of July 20, the date of the court ruling, can take a personal tax exemption in the amount of $3,000 for each fetus, if she is carrying more than one.The Georgia Department of Revenue did not provide details, such as what happens if the pregnancy ends in miscarriage during the tax year. The agency said it would issue further guidance later in 2022.Register now for FREE unlimited access to Reuters.comThe law allowing the deduction was part of a so-called fetal heartbeat bill passed three years ago in Georgia, which aimed to ban abortion after fetal cardiac activity is detected, generally at around six weeks gestation.That bill, which also allowed women to collect child support for a fetus, was one of a raft of abortion bans and restrictions that were not allowed to go into effect for years - as long as the United States constitution was interpreted as protecting a right to abortion.After a new conservative super-majority on the U.S. Supreme Court ended those protections by overturning the landmark Roe v Wade decision that legalized abortion nationwide, Georgia's law was allowed to go into effect.Allowing pregnant women to claim their fetuses as dependents is an idea that has been supported by some in the anti-abortion movement for years. Bills to allow that have been introduced at the federal level at least twice.Arizona passed a similar statute, but enforcement of its law granting ""personhood"" to fetuses has been blocked by a court, said Elizabeth Nash, who studies state abortion policy for the pro-abortion rights Guttmacher Institute.Georgia's tax move is the broadest interpretation of fetal personhood to be enacted thus far, she said through a spokesperson.The Georgia Department of Revenue did not immediately respond to a request for comment or clarification from Reuters.Register now for FREE unlimited access to Reuters.comReporting by Sharon Bernstein
Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Georgia anti-abortion law allows tax deductions for fetuses.
"Cast members Jonathan Banks (L) and Bob Odenkirk pose at the premiere for season 3 of the television series ""Better Call Saul"" in Culver City, California U.S., March 28, 2017. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.com(Reuters) - Better call another lawyer.Liberty Tax Service, one of the largest U.S. tax preparers, has sued the companies behind AMC's hit crime drama ""Better Call Saul"" for what it says was a rip-off of its trademarks and Statue of Liberty logo in depicting the fictional ""Sweet Liberty Tax Services"" in a recent episode.In a complaint filed on Monday night in Manhattan federal court, Liberty Tax accused AMC Networks Inc and Sony Pictures Television Inc of sowing confusion and causing harm by leading viewers to believe Sweet Liberty was one of Liberty Tax's more than 2,500 offices.Register now for FREE unlimited access to Reuters.comAMC and Sony did not immediately respond to requests for comment on Tuesday.Liberty Tax objected to an April episode when Saul Goodman, an ethically challenged lawyer also known as Jimmy McGill, visits Sweet Liberty, run by his former clients Craig and Betsy Kettleman.Sweet Liberty is housed in the New Mexico desert, in a trailer featuring an inflatable Statute of Liberty and American flag motif, and used by the Kettlemans to skim customers' tax refunds.""Out of all the names defendants could have used,"" the complaint said, ""they decided not to be original at all, but instead rip off the famous Liberty Tax trademarks, which have been used for over 25 years.""""Given defendants' extensive use and copying of Liberty Tax's trademarks and trade dress, [they] must have intended to evoke an actual Liberty Tax Service location,"" it added.The lawsuit seeks a halt to any infringements, plus unspecified punitive and triple damages.A lawyer for Virginia Beach, Virginia-based Liberty Tax had no immediate additional comment.""Better Call Saul"" stars Bob Odenkirk as the title character, and is a prequel to the series ""Breaking Bad.""It has been nominated for an Emmy for best drama series, with Odenkirk receiving his fifth Emmy nomination for best lead actor in a drama series. ""Better Call Saul"" will conclude its six-year run this month.The case is JTX Tax LLC v AMC Networks Inc, U.S. District Court, Southern District of New York, No. 22-06526.Register now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.",AMC's 'Better Call Saul' is sued over tax trademark.
"d3sign | Moment | Getty ImagesWould-be travelers looking to fly this fall may want to book their plane trips now, with travel app Hopper reporting that airfares are dropping this month from peak summertime prices.""September and early October will be the cheapest times to travel, while August and early September will be the cheapest times to book travel for those months,"" said Hayley Berg, Hopper's lead economist.The app's Late Summer (Q3) Travel Index claims that the average domestic airfare could drop as low as $286 roundtrip for bookings made in August. That's down 25% from May, when average fares topped $400, and is 3% lower than in August of last year.More from Personal Finance:What a recession could mean for youBest money moves after the Fed's interest rate hikesNearly half of all Americans are falling deeper in debtAirfares typically dip 10% to 15% in any given autumn as travel demand slows. ""Offering lower airfare in August and September as travelers look to fall season travel is a seasonal occurrence, in line with the airlines' expectations for pricing throughout the year,"" said Berg.But this year's drop is steeper than normal in the wake of abnormally high spring and summer fares that resulted from factors such as high jet fuel prices and greater-than-usual demand from a pandemic-weary public, she noted.The average airfare for the rest of this year will remain at or below $300 if booked by the end of September before starting to rise again in October and November.""We look at a weighted average price, so departures in the next two to three months will be weighted most heavily, [and] most travelers getting low prices in August will be traveling in September and October,"" said Berg, explaining how Hopper determines the best times to buy and fly.Where to fly … and where fromTravelers departing most significant U.S. air hubs should find good deals this month, according to Hopper.""Many major airports are offering lower fares this fall compared to 2019 to major destinations,"" said Berg. ""More than 200- to destinations are priced lower this year from Chicago; Washington, D.C.; Houston; and Atlanta.""From New York, Hopper is seeing what Berg called great domestic deals. ""We're seeing with airfare to … top destinations as much as 27% lower than 2019 prices."" Sample airfares from New York area airports include:Orlando, Florida for $15 ( -7.3% versus 2019)Miami for $140 (-27% versus 2019)Las Vegas for $253 (-5% versus 2019)International flights from major U.S. hubs that are good value include:Washington, D.C., to Lisbon, Portugal for $423Boston to Dublin, Ireland for $452Washington, D.C., to Copenhagen, Denmark for $518Do good fares outweigh airport aggravation?OK, airfares are more affordable. But do cheaper prices compensate for all the potential headaches travelers have been encountering when flying, such as flight cancellations or delays?Berg said flight disruptions will remain a problem, despite temporarily improving last month. Delay rates, for example, had improved in July but then jumped back up to 25% from 18%.Thus, many of the firm's customers are taking ""proactive measures to safeguard against potential disruptions,"" she said, including the purchase of trip insurance products. In fact, 1 in 5 Hopper clients now opt for such protections when booking.","With domestic fares down 25% since spring, now's the time to book flights for fall trips, travel app study finds."
"Earnings are holding up and there are signs that inflation is cooling so, should you be adding to your portfolio? The Investment Committee debates that and more. Plus, Stephanie Link is making several moves in her portfolio – what she sold and the three names she’s adding to. And, Uber posted positive cash flow for the first time ever. More by CNBC",‎Halftime Report: Should You Add to Stocks? 8/2/22 on Apple Podcasts.
"A Ural Airlines Airbus A321-200 airplane takes off from the airport in Palma de Mallorca, Spain, July 29, 2018. Picture taken July 29, 2018. REUTERS/Paul HannaRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The U.S. Commerce Department on Tuesday will add 25 Airbus airplanes operated by Russian airlines believed to violate U.S. export controls as part of the Biden administration's sanctions over the Russian invasion of Ukraine, the agency told Reuters.The department has previously identified more than 150 Boeing airplanes and one Gulfstream plane that had flown into Russia from other countries since March 2 or into Belarus since April 8. The rules cover U.S. made airplanes as well as foreign made airplanes that have least 25% U.S. origin content. These are the first foreign airplanes added to the export control list.The 25 Airbus A320, A321 and A330 airplanes are operated by Ural Airlines, S7 Airlines, Red Wings, Yamal Airlines, Nordwind, and I-Fly. The orders aim to deny the airlines access to refueling, spare parts and maintenance services.Register now for FREE unlimited access to Reuters.com“The United States and our partners applied sweeping, powerful export controls to industry sectors – such as aerospace – that Russia leverages to sustain its military aggression,” said Commerce Department Export Enforcement chief Matthew Axelrod in a statement provided to Reuters. ""Today's identification of 25 foreign-produced aircraft further degrades Russian airlines’ ability to operate their fleets of both U.S. and EU airplanes.""The department has warned companies and other entities around the world that any refueling, maintenance, repair, or spare parts or services violate U.S. export controls and subject companies to U.S. enforcement actions.The department previously issued orders denying export privileges to major Russian airlines including flag carrier Aeroflot (AFLT.MM), Aviastar, Azur Air, Nordwind Airlines, Pobeda, Rossiya, S7 Airlines, and Utair, as well as Belarus’s flag carrier Belavia.The Commerce Department has previously identified two airplanes owned by businessman Roman Abramovich as having likely violated export controls, including a 787 Dreamliner.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson
Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.",U.S. adds 25 Airbus planes operated by Russian airlines to export violation list.
"U.S. House Speaker Nancy Pelosi (D-CA) addresses reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan late on Tuesday, sparking an immediate backlash from Beijing, which had warned her against a visit, saying it would undermine China-U.S. relations.Pelosi and her delegation disembarked from a U.S. Air Force transport plan at Songshan Airport in downtown Taipei late on Tuesday and were greeted by Taiwan's foreign minister, Joseph Wu, and Sandra Oudkirk, the top U.S. representative in Taiwan.Her arrival sparked immediate criticism from Beijing, with China's foreign ministry saying it seriously violated China's sovereignty and territorial integrity. State media announced military excercises later this week and Chinese war planes flew over Taiwan Strait before her arrival.Pelosi was on a tour of Asia that includes announced visits to Singapore, Malaysia, South Korea and Japan. Her stop in Taiwan had not been announced but had been widely anticipated.China claims self-ruled Taiwan as its own, and a foreign ministry spokesman said earlier this week that any visit by Pelosi would be ""a gross interference in China's internal affairs"" and warned that ""the Chinese People's Liberation Army will never sit idly by.""Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu and Yimou Lee
Writing by Tony Munroe; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",U.S. House Speaker Pelosi arrives in Taiwan.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - President Joe Biden has appointed two top federal officials to coordinate his administration's response to monkeypox, the White House said on Tuesday, as more states declared emergencies to help boost vaccines and other resources to combat the virus.The top officials from the Federal Emergency Management Agency (FEMA) and the Centers for Disease Control and Prevention (CDC) will coordinate the U.S. response across the federal government even as Biden's administration has stopped short of declaring a national emergency.The appointments come as the United States aims to bolster vaccination efforts to slow the spread of a monkeypox outbreak that has infected more than 5,800 Americans.Register now for FREE unlimited access to Reuters.com""Over the coming weeks ... the administration will advance and accelerate the United States’ monkeypox response to mitigate the spread of the virus, protect individuals most at risk of contracting the virus, and care for those who have been afflicted with it,"" the White House said in a statement.California and Illinois on Monday announced a state of emergency over monkeypox, following New York's declaration last week. read more Test tubes labeled ""Monkeypox virus positive and negative"" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRobert Fenton, a FEMA regional administrator, will serve as the White House monkeypox coordinator and Demetre Daskalakis, CDC's HIV prevention chief, will serve as deputy coordinator.The pair will coordinate Biden's response ""including equitably increasing the availability of tests, vaccinations and treatments,"" the White House said. The administration has estimated it may need nearly $7 billion to combat the outbreak, according to the Washington Post. read more Unlike when COVID-19 emerged, there are already vaccines and treatments available for monkeypox, which was first documented in Africa in the 1970s. Companies, however, must scale up production to meet rising demand.The first U.S. case of monkeypox was confirmed in Massachusetts in May, followed by another case in California five days later.Monkeypox, which spreads through close physical contact, causes flu-like symptoms and pus-filled skin lesions, though it is rarely fatal. It also spreads less easily than the novel coronavirus.The World Health Organization declared monkeypox a global health emergency on July 23. read more Register now for FREE unlimited access to Reuters.comReporting by Susan Heavey and Alex Alper in Washington, and Shivani Tanna and Akriti Sharma in Bengaluru; Editing by Robert Birsel and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Biden names U.S. monkeypox coordinators as more states cite emergencies.
"A worker assembles a box for delivery at the Amazon fulfillment center in Baltimore, Maryland, U.S., April 30, 2019.Clodagh Kilcoyne | ReutersFederal officials are sharpening their focus on Amazon's workplace safety hazards.Investigators from the Occupational Safety and Health Administration, which is part of the Labor Department, visited Amazon sites near Albany, New York, Denver and Boise, Idaho, on Monday, according to a document viewed by CNBC. The inspections are part of an ongoing probe launched last month by OSHA and the U.S. Attorney's Office for the Southern District of New York. OSHA officials in mid-July visited three other Amazon warehouses in New York, Chicago and Orlando in response to referrals from SDNY prosecutors. The U.S. Attorney's Office said last month that the civil division is investigating potential workplace safety hazards at Amazon warehouses nationwide, as well as possible fraudulent conduct designed to hide injuries from OSHA and other regulators. OSHA inspectors have so far zeroed in on Amazon's injury and illness recordkeeping, ergonomics program and Power Industrial Truck (known as PIT) operations, according to the latest document. PIT roles require employees to drive forklifts or other machinery to reach products on high shelves or move heavy items around the warehouse.Federal prosecutors asked current and former Amazon employees to report information about working conditions via an online form. One question on the survey reads, ""Have you seen workers working in unsafe ways to try to meet their productivity/rate requirements?"" Another says, ""Do you believe that Amazon discourages workers from reporting injuries?""Representatives from OSHA and Amazon didn't immediately respond to requests for comment. Amazon spokesperson Kelly Nantel previously told CNBC in a statement that the company intends to cooperate with OSHA throughout its investigation. ""We believe it will ultimately show that these concerns are unfounded,"" Nantel said.Amazon has repeatedly come under fire for its treatment of warehouse and delivery workers. Critics and lawmakers have pointed to the company's obsession with speed and strenuous quotas as threats to worker safety. Employees often claim they're at risk of discipline and being fired if they fail to meet productivity quotas. Amazon has denied that it uses such quotas in its warehouses, and disputed reports of unsafe working conditions. OSHA investigators have inspected Amazon warehouses on numerous occasions over working conditions, including a tragic warehouse collapse and coronavirus-related health and safety concerns. When an OSHA violation is identified, it typically results in fines that are paltry compared with the hundreds of billions of dollars Amazon hauls in annually.WATCH: A closer look at Amazon's warehouse injuries",Amazon warehouses face expanded probes into safety hazards as investigators visit three more sites.
"[The stream is slated to start at 2:45 p.m. ET. Please refresh the page if you do not see a player above at that time.]President Joe Biden on Tuesday is set to sign into law a bipartisan bill to invest billions of dollars in domestic semiconductor manufacturing and science research, with the aim of boosting U.S. competitiveness with China and other foreign rivals.The signing marks a win for Biden, who campaigned on reaching across the aisle and has pushed Congress to pass the legislation as a matter of necessity for America's economy and national security.The bill, dubbed the Chips and Science Act, includes more than $52 billion for U.S. companies producing computer chips, as well as billions more in tax credits to encourage investment in chip manufacturing. It also provides tens of billions of dollars to fund scientific research and development, and to spur the innovation and development of other U.S. technologies.The House and Senate passed the bill last week with near-unanimous Democratic support. One-third of Republican senators backed the bill, including Senate Minority Leader Mitch McConnell of Kentucky. Two dozen House Republicans also voted for it, though others withdrew their support on the eve of the final vote after Senate Democrats unveiled plans to quickly pass an unrelated partisan reconciliation bill.Democrats want that tax-and-spending package, helmed by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.V., to come to a vote before Congress leaves Washington, D.C., for the August recess. They hope to pass it without needing Republican votes in the Senate, where the parties are split 50-50 and Vice President Kamala Harris holds the tie-breaking vote.McConnell had previously warned Democrats that GOP lawmakers wouldn't back the semiconductor bill if they continued to work on a reconciliation package. Talks between Schumer and Manchin on such a package had appeared to sputter weeks earlier — but just hours after the Senate voted to pass the Chips and Science act, the Democrats revealed that they had struck a deal.Republicans reacted angrily, and the House minority whip's office instructed GOP members in a late-night memo to oppose the chips bill when it came to a vote Thursday. ""They lied about reconciliation,"" House Minority Leader Kevin McCarthy, R-Calif., said on the morning of the vote.Democrats, meanwhile, celebrated the bill's passage. ""Now it goes to the White House for the president's signature and a better future for our country,"" House Speaker Nancy Pelosi, D-Calif., said in a ceremony at the Capitol on Friday morning.Advocates say it is vital for the U.S. to boost its production of semiconductors, which are increasingly critical components in a vast array of products including consumer electronics, automobiles, health care equipment and weapons systems.Biden also has blamed the chip shortage for the sky-high inflation that has dogged his presidency. A lack of chips available for new car manufacturing has been linked to soaring prices for used cars, which are pushing inflation higher.The chips have been in short supply during the Covid-19 pandemic. Factory shutdowns at the beginning of the outbreak sidelined chip production in Asia while consumer demand for autos and upgraded home electronics that need the chips surged during the lockdowns. The U.S. share of global chip production also has fallen sharply in recent decades, while China and other nations have invested heavily in the industry.The U.S. makes few of the most advanced types of semiconductors, which are largely produced in Taiwan. Pelosi and a delegation of five House Democrats traveled to that island, the source of significant tensions with China, earlier Tuesday as part of an Asian tour.The speaker said the trip is aimed at reaffirming U.S. ties to its regional allies, including Singapore, Malaysia, South Korea and Japan. But China, which asserts control over Taiwan, has deployed increasingly belligerent rhetoric toward the U.S. in response to the tour.",Watch live: Biden signs bill to boost China competition and U.S. chip production.
"A White Castle team member next to Miso Robotics' Flippy.Courtesy: Miso RoboticsBefore the end of this year, a brand-new pizza purveyor plans to hit the Los Angeles area. But this isn't just another pizza place.This company plans to serve pizza from trucks and the pies themselves are put together not by humans but by robotics developed by former engineers from SpaceX. The machine can produce a pizza every 45 seconds.Benson Tsai, who founded Stellar Pizza in 2019 along with fellow SpaceX engineers Brian Langone and James Wahawisan, got about two dozen former SpaceX employees to build a touchless pizza-making machine that fits in the back of a truck. Stellar isn't the first company to conceive of robot-made pizza, and the early track record for the business model includes one notable failure. Softbank-backed Zume Pizza, which was once valued at $4 billion, shuttered its robot pizza delivery business in January 2020 and has since pivoted to making compostable packaging.Entrepreneurs are not giving up on the robot pizza concept, and they are taking it global as well. In February, Dubai launched an automated pizza kiosk, a project backed by chef Anthony Carron's 800 Degrees Go of Cleveland, which specializes in wood-fired cooking, and robot-based artisanal pizza maker Piestro of Santa Monica, Calif. The two plan to have 3,600 machines deployed in the next five years.The trend has moved far beyond pizza as well, with Miso Robotics, the maker of the Flippy 2 — a robot arm that works the fryer at fast-food restaurants — already deployed at Chipotle, White Castle and Wing Zone. It's being introduced to the Middle East market as well through a partnership with Americana, a franchisor and franchisee with over 2,000 restaurants in the region including KFC, Hardees and Pizza Hut.Robot chefs becoming ""commonplace""Jake Brewer, Miso Robotics' chief strategy officer, said such machinery will soon be commonplace in restaurants.""I believe that if anyone wanted to, they could go see a robot working in a restaurant in 2024, 2025,"" Brewer said. ""You can go see robots cooking right now and that's only going to grow week over week."" Chipotle Mexican Grill worked with Miso Robotics to customize the ""Chippy"" robot, which cooks and seasons Chipotle's chips with salt and fresh lime juice. The robot is trained to recreate the exact recipe using artificial intelligence.As of March, Chipotle was testing the robot at its innovation hub in Irvine, California, the Chipotle Cultivate Center. The company plans to use it in a restaurant in Southern California later this year and will determine if it will roll it out nationally.""Right now, the general sense is that there's going to be a lot more robots,"" said Dina Zemke, assistant professor at Ball State University. She said in the past adding robotics to the staff was prohibitively expensive, but now there are more companies making kitchen-ready robots, which is helping to drive prices down.A finished pepperoni pizza exiting a machine made by Stellar Pizza, a robotics-powered mobile pizza restaurant created by a team of former SpaceX engineersMedianews Group/long Beach Press-telegram | Medianews Group | Getty ImagesFast-food preparation is made for robotics. ""The recipes are highly standardized. And really, it's mostly heating an assembly,"" Zemke said. ""No one's creating just the right secret sauce in the back of the house; all of that is provided through a commissary system.""Wing Zone, a 61-unit chain, is perhaps the most robotics-friendly fast-food restaurant right now. In May, the chain expanded its relationship with Miso Robotics. Wing Zone has been testing Flippy 2 in the last step of the wing-frying process and is using its Wing Zone Labs arm to develop fully automated Wing Zones.Lack of restaurant staff aids robotics pushPart of the adoption is driven by an inability to find workers. The National Restaurant Association reported last year that 4 in 5 operators are understaffed, and overall employment in the leisure and hospitality category that includes restaurant staffing has been the most challenged since the pandemic, according to data from the Bureau of Labor Statistics.A recent report from Lightspeed found that 50% of restaurant owners plan to install automation technology within the next two or three years.For Chipotle, it's not about replacing workers but allowing them to complete more impactful tasks than repetitive things like making chips.""It started with, 'How do we remove some of the dreariness of a worker standing at the fryer and frying chip basket after chip basket?'"" Chipotle chief technology officer Curt Garner told CNBC earlier this summer. ""It allows our crew to spend more time doing culinary tests, serving guests,"" he said.Clemson University professor Richard Pak, an expert on the use of autonomous technology, said automation works better for food that is cheap. ""When you're paying for it, when you're paying more, you're paying for experience and artistry and experience,"" he said. ""And so I don't know if these kinds of robots would be acceptable in higher-end restaurants. People would wonder what they're paying for.""Yet there is some trepidation in the broader restaurant market as well. A recent poll by Big Red Rooster found that a third of diners don't want to see robots preparing their food.For Stellar founder Tsai, the robotics are a means to an end: making sure that the company can deliver an affordable pizza pie that customers like. While pricing has not been finalized, he said the target price is ""definitely sub-$10."" A 12-inch pie of cheese pizza will run about $7, Tsai said. The plan for Stellar, which has raised $9 million in funding, includes national expansion.""The pizza market is a big, big market and as we sort of establish a foothold here in Los Angeles we will start to grow and expand outwards towards Las Vegas, towards Phoenix, towards Texas,"" Tsai said.",Robot cooks are rapidly making their way into restaurant kitchens.
"Politics August 2, 2022 / 2:39 PM / CBS News Washington — The Justice Department has filed a lawsuit challenging an Idaho law that outlaws nearly all abortions in the state, Attorney General Merrick Garland announced Tuesday, marking the first court fight mounted by the Biden administration after the Supreme Court eliminated the constitutional right to an abortion in June.In a press conference announcing the new lawsuit, Garland said Idaho's law, which was enacted in 2020 and takes effect Aug. 25, violates the Constitution and is preempted by federal law, as it is in conflict with the Emergency Medical Treatment and Labor Act (EMTALA). The Justice Department is asking a federal district court in Idaho to invalidate the so-called trigger law and block the state from enforcing it against medical providers. Idaho's attorney general's office did not immediately return a request for comment. ""In the days since the Dobbs decision, there have been widespread reports of delays and denials of treatment to pregnant women experiencing medical emergencies. Today, the Justice Department's message is clear: It does not matter what state a hospital subject to EMTALA operates in. If a patient comes to the emergency room with a medical emergency jeopardizing the patients' life or health, the hospital must provide the treatment necessary to stabilize that patient,"" Garland said. ""This includes abortion when that is the necessary treatment."" Garland said that any state law that prevents a hospital from fulfilling obligations under EMTALA runs afoul of federal law, and the Idaho statute ""seems on its face"" to directly conflict with it. The prohibition ""will threaten the health of women who come into the emergency room in a really dire medical situation,"" he added Attorney General Merrick Garland speaks during a news conference at the U.S. Department of Justice on Aug. 2, 2022 in Washington, D.C. Drew Angerer / Getty Images Idaho's law makes it a felony to perform an abortion in most circumstances, and the Justice Department argues in its suit that the measure makes it a criminal offense for doctors to comply with EMTALA, which requires health care providers that receives Medicare funds to provide necessary stabilizing treatment to a mother whose health is at risk and must undergo an emergency abortion. Circumstances that may require a doctor to provide an abortion to stabilize a pregnant mother include ectopic pregnancy, severe preeclampsia or complication from pregnancy that threatens septic infection or hemorrhage, the Biden administration said.""Idaho's law would make it a criminal offense for doctors to provide the emergency medical treatment that federal law requires,"" Garland said. ""Although the Idaho law provides an exception to prevent the death of a pregnant women, it includes no exception for cases in which the abortion is necessary to prevent serious jeopardy to the women's health.""The lawsuit against the state of Idaho is the first brought by the Justice Department since the Supreme Court overturned Roe v. Wade in late June, returning abortion policy to elected officials and clearing the way for state lawmakers to impose more stringent restrictions or outright bans on abortion.In response to the high court's ruling, President Biden signed an executive order last month that directed his administration to safeguard reproductive rights. Following Mr. Biden's order, Health and Human Services Secretary Xavier Becerra issued new guidance to hospitals notifying them that they must provide emergency abortions if the life of the mother is at risk, as requirements under EMTALA preempt state abortion bans.The Justice Department and White House also convened for the first time Friday a meeting of private law firms, bar associations, law professors and public interest groups to push for legal representation to help protect access to reproductive health services.Associate Attorney General Vanita Gupta, who heads the Justice Department's response to the Supreme Court ruling, said Tuesday that the Idaho law at issue would ""chill"" providers' willingness to provide abortions when deemed medically necessary and warned it ""presumptively criminalizes all abortions."" The statute places the burden, Gupta explained, onto doctors who have to prove why the abortion procedure is necessary.",Justice Department sues Idaho over abortion law in first legal challenge since Roe's reversal.
"Los AngelesRon_Thomas | Getty ImagesAs rising interest rates and surging property values prevent more families from buying a home, the demand for rentals has soared, with the highest rent prices in the sunniest states.  Rent prices for single family homes swelled during the first half of 2022, hitting a national average of $2,495 a month — a 13.4% increase compared to the same period in 2021, according to a new report from national real estate brokerage HouseCanary.While cities in warmer climes like California and Florida dominated the list of highest median rent prices, midwestern states such as Ohio earned the top spots for most affordable rent, the report found.More from Personal Finance:5 markets where home sales are cooling fastestThese 10 U.S. real estate markets are cooling the fastestMillennials' net worth more than doubled during pandemicThe findings come as more Americans, including some six-figure earners, are living paycheck to paycheck amid rising costs.Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, according to the U.S. Department of Labor.5 U.S. metros with most expensive monthly rentsThese U.S. metropolitan real estate markets had the highest median single-family monthly rents during the first half of 2022:Los Angeles; Long Beach, California; Anaheim, California: $4,664San Diego; Carlsbad, California: $4,617Bridgeport, Connecticut; Stamford, Connecticut; Norwalk, Connecticut: $4,352San Jose, California; Sunnyvale, California; Santa Clara, California: $4,294Oxnard, California; Thousand Oaks, California; Ventura, California: $4,259  5 U.S. metros with least expensive monthly rentsThese U.S. metropolitan real estate markets had the cheapest median single-family monthly rents during the first half of 2022.Mobile, Alabama: $1,419Dayton, Ohio; Kettering, Ohio: $1,412Wichita, Kansas: $1,397Akron, Ohio: $1,361Canton, Ohio; Massillon, Ohio: $1,314Remote work may stunt wage growth The pandemic accelerated the trend of leaving expensive coastal cities for more affordable areas as more Americans shifted to remote work.And a record number of U.S. homebuyers are still eyeing cheaper options from cities like San Francisco, Los Angeles and New York, according to a July report from Redfin. However, remote work may come with a hidden cost.While many have enjoyed the perks of remote work, research shows it may stunt wage growth over time, according to a working paper published by the National Bureau of Economic Research. There may be other 'hidden' expenses of movingWhile moving to a cheaper area may slash your rent or mortgage, other unexpected costs may hurt your budget, experts say.""Losing your network or your village is a big hidden expense,"" said certified financial planner Bill Parrott, president and CEO of Parrott Wealth Management in Austin, Texas.Losing your network or your village is a big hidden expense.Bill ParrottPresident and CEO of Parrott Wealth ManagementWithout access to friends and family, costs like childcare, pet sitting and more can add up quickly, he said.And traveling may be more expensive from a smaller city, depending on your airport or transportation options, said Caleb Pepperday, a Pittsburgh-based CFP and wealth advisor at JFS Wealth Advisors.""It's best to research some of these costs before moving to a new city to help make your decision,"" he said.",Rent prices are soaring in these 5 U.S. metros. Here's what to know before moving to a cheaper area.
"Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sandy Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The father of a child killed in the Sandy Hook massacre told a jury that he had endured years of ""hell"" after U.S. conspiracy theorist Alex Jones claimed the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in a Texas court to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.com""I can’t even describe the past nine-and-a-half years of hell I have had to endure because of the negligence and recklessness of Alex Jones and the propaganda he has peddled for his own profits and success,"" Heslin testified on Tuesday.Heslin described years of harassment and death threats from Jones’ followers, including an incident when a person fired shots at his home while driving past shouting “Infowars” and “Alex Jones"" amid what sounded like gunfire.Heslin, who held his son’s body in his hands after the shooting, said he relives the moment every time he hears Jones’ false claims that the shooting never occurred.“I can’t even put into words how difficult it is to lose a child in those circumstances,” he said.Jesse Lewis's mother, Scarlett, later recounted an incident on Christmas morning when a stranger pulled into her driveway and started taking pictures.Lewis keeps a gun in her home for fear of her family’s safety, she said.“I am a single mother and responsible for the safety of both of my boys, and I was not able to keep one of them safe,” she said. “So I am going to keep my surviving son safe.""A lawyer for Jones said he had already paid a price after being deplatformed in 2018 and losing millions of viewers.Jones has since acknowledged that the shooting took place. He was expected to take the stand later on Tuesday in his defense, a lawyer for the parents said.The defamation suit in Austin, Texas, where Infowars is based, is one of several brought by families of victims who say Jones's followers harassed them as a result of his false claims.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder, Howard Goller, Bradley Perrett and Mark PorterOur Standards: The Thomson Reuters Trust Principles.","Father of child killed in Sandy Hook says experienced ""hell"" because of Alex Jones's lies."
"A man walks past a logo of Alibaba Group at its office building in Beijing, China August 9, 2021. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Technology companies, crypto exchanges and financial firms are cutting jobs and slowing hiring as global economic growth slows due to higher interest rates, red-hot inflation and an energy crisis in Europe.In a sign of a tough second half of the year, growth in the world's largest economy, the United States, shrank for the second straight quarter, while in the euro zone business growth slowed sharply in June due to rising cost of living.LAYOFFS:HIRING FREEZES:Source: Company filings, media reportsRegister now for FREE unlimited access to Reuters.comCompiled by Chavi Mehta, Tiyashi Datta, Aditya Soni and Yuvraj Malik in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.","Factbox: Companies cut jobs, freeze hiring to prepare for economic slowdown."
"Politics Updated on: August 2, 2022 / 9:31 AM / CBS News GOP's chances of gaining House control CBS News Battleground Tracker: GOP poised to take control of House in November 06:03 Tuesday's primaries are among the busiest in the 2022 midterm primaries. Five states in total are holding primaries (Arizona, Michigan, Missouri, Kansas and Washington). From more ways to gauge how much sway an endorsement from former President Donald Trump has, to direct ballot measures about abortion access, to the last remaining House Republicans who voted to impeach Trump.Here are some of the races to watch: Arizona Senate & GovernorThe Arizona GOP primary for senate, governor, and secretary of state on Tuesday are a major test of Trump's influence over the Republican Party. Republican Voters will be picking their nominees but the future direction of the GOP is also at stake. And Tuesday's results from Arizona could be a preview of the conservative brand that may take center stage in the 2024 presidential election. In the Senate, Trump has backed 35-year-old Blake Masters, a venture capitalist who was  the chief operating officer of Thiel's investment firm, Thiel Capital, and the president of Thiel's foundation. Theil has spent at least $15 million to support Masters, according to filings with the Federal Election Commission.   Arizona Republican U.S. Senate candidates Jim Lamon, left, Mick McGuire, second from right, and Blake Masters, right, pose for a photograph with moderator John Bachman, second from left, prior to the Arizona Republican Senate primary debate hosted by Newsmax at the Madison Center for The Arts Wednesday, July 13, 2022, in Phoenix. Ross D. Franklin / AP Masters' primary opponents include businessman Jim Lamon, retired U.S. Air Force Maj. Gen. Michael McGuire and Arizona Attorney General Mark Brnovich.  Two polls this week indicate Masters has a comfortable lead going into Tuesday's primary. That lead has continued to grow since Trump endorsed Masters in late June. A poll of likely Republican voters from OH Predictive on Sunday morning showed Masters at 36% with businessman Jim Lamon at 21% and Brnovich at 12%.That mirrors Sunday's Emerson poll, which also had Masters leading the pack with 40% of the support followed by 22% for Lamon and 14% for Brnovich.   Lamon told CBS News on Monday that ""Democrats are paying"" for Masters to win the primary. ""Democrats would love to run against Masters, they'll beat him like a drum,"" Lamon said. The businessman aligns with Trump on conservative issues but said the former president ""absolutely"" made a mistake endorsing Masters over him. The winner of Tuesday's Senate primary will take on incumbent Democratic Sen. Mark Kelly, a former astronaut whose seat is a top target for Republicans. Kelly has raised over $55.8 million this cycle and has about $25 million cash on hand.  In the GOP race for governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Governor Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  This combination of photos shows from left, Republican candidates for Arizona governor Karrin Taylor Robson and Kari Lake prior to an Arizona PBS televised Republican debate June 29, 2022, in Phoenix. Arizona  Ross D. Franklin / AP While Lake has led in a majority of the polls, an Emerson College poll on Sunday showed a ""dead heat"" between the two, with Lake just up by one percentage point. Trump backed Lake early and visited the state twice to support her. Some Republican voters in Arizona say they are only backing Trump-endorsed candidates this cycle.Fred Warden, a fire pilot from Tucson, told CBS News that Trump's endorsement of statewide candidates is a ""big factor"" for him. ""I wouldn't vote for anybody that he hasn't endorsed,"" Warden said before a joint Lake and Masters rally on Sunday.Donna Hale, a dietician from southern Arizona, said the former president ""started a populist movement that helped to wake up the average American,"" and she added that she hopes Trump runs again in 2024.Democrats will choose between Secretary of State Katie Hobbs and Marco Lopez, a businessman and former chief of staff at Customs and Border Protection. Missouri Senate: Trump sort of endorsesWhether Missouri Republicans elect former Gov. Eric Greitens, who resigned after a sex scandal in 2018 and has faced claims of domestic abuse by his ex-wife, in Tuesday's primary or another GOP candidate could determine how competitive this reliably Republican state is in November.Greitens is part of a crowded field of 21 GOP nominees looking to replace retiring Republican Sen. Roy Blunt. Attorney General Eric Schmitt has recently been leading in polls, with Rep. Vicky Hartzler at second, Greitens behind her and Rep. Billy Long at fourth. Schmitt and Hartzler have highlighted the domestic abuse allegations against Greitens, and called on him to drop out of the race. Greitens has denied the allegations. The former governor led in polls as recent as June. But over $11 million on advertisements has been spent by anti-Greitens groups, such as the ""Show Me Values PAC"" or the ""Save Missouri Values PAC,"" whose donors include Theil.  From top left: Eric Schmitt, Vicky Hartzler, Billy Long, Eric Greitens. AP Photo/Jeff Roberson, AP Photo/Lauren Victoria Burke, Greg Nash/Pool via AP Filek, AP Photo/Jeff Roberson ""I wanted to protect our children because I was afraid of what Eric [Greitens] would do,"" one ad, which uses a vocal reenactment of the affidavit by Greiten's ex-wife. Greitens' campaign has called the ad blitz a ""smear"" campaign and characterized it as a battle between ""MAGA"" and Senate Majority Leader Mitch McConnell in a post last week. His campaign has also referred to his wife as a ""deranged individual.""""Anti-Trump establishment insiders are spending to the tune of $11 million to smear the undoubted MAGA champion in the Missouri Senate race: Navy SEAL Eric Greitens,"" the post reads.On Monday, the eve of the primary, Trump finally weighed in on the race, tipping the scale for ""ERIC.""  ""I trust the Great People of Missouri, on this one, to make up their own minds, much as they did when they gave me landslide victories in the 2016 and 2020 Elections, and I am therefore proud to announce that ERIC has my Complete and Total Endorsement,"" Trump wrote in a statement Monday night, apparently rejecting anyone not named Eric. Two of the three Erics seized on the tweet to claim the Trump endorsement: Eric Schmitt and Eric Greitens.On the Democratic side, former Marine Lucas Kunce and Trudy Busch Valentine, a philanthropist with ties to the Anheuser-Busch brewery, are in a tighter-than-expected primary. A late July poll by Emerson College and The Hill has Busch Valentine ahead of Kunce by four points.One other candidate to watch in November is John Wood, who was the senior investigative counsel for the Jan. 6 committee. He submitted over 22,000 signatures on Monday to get his name on the ballot as an independent candidate, according to the Kansas City Star.Michigan Governor: The primary to take on WhitmerA dysfunctional Republican primary to take on Democratic Gov. Gretchen Whitmer, who has been seen as vulnerable in November, will come to an end on Tuesday. In May, a court threw out multiple leading candidates due to petition signature fraud, including former Detroit Police Chief James Craig. Five Republicans made it to the final ballot. Trump made a splash last Friday when he backed former actress and conservative activist/anchor Tudor Dixon, who had been holding a lead in recent polls and has been seen by Republican strategists as a strong candidate to take on Whitmer in November. But Kevin Rinke, whose fortune from his family's automotive group has allowed him to spend $6.5 million on ads, has hammered Dixon for not being Trumpy enough and for having the support of former Trump-era Education Secretary Betsy DeVos. On Sunday, his campaign hit Dixon for being noncommittal on a question about whether she believes the 2020 election was stolen. Ryan Kelley, a Jan. 6 attendee who was arrested by the FBI in June, has often placed third or fourth in the polls behind Dixon and Rinke. He and Garrett Soldano, a chiropractor who started an anti-Whitmer Facebook group during the pandemic, are seen as the ""grassroots"" candidates by local Republicans.  Facebook shut the group down after repeated violent threats to Whitmer. But all the candidates oppose Whitmer's handling of the COVID-19 pandemic, often bringing it up during debates and in advertisements. The Supreme Court's Dobbs decision on abortion access could also play a huge role in this race in November. Whitmer is currently engulfed in court battles to prevent a 1930-era abortion ban from taking effct. It allows no exceptions except to save the life of the child bearer. Planned Parenthood's Michigan chapter lost a case in the state's Court of Appeals on Monday morning over the ban. The court's ruling allows county prosecutors to begin enforcing the 1931 ban.All of the GOP candidates support the ban.Whitmer, a prolific fundraiser in her first term, has already spent $9.7 million on ads attacking Republicans in the primary. ""Put Michigan First,"" an organization propped up by the Democratic Governors Association, has been the top spender with $23.3 million spent on ads supporting Whitmer, or in a continuation of their strategy in other hostile GOP primaries, hitting a specific GOP candidate (Dixon) to create more space for their preferred general election challengers to win the primary. Arizona and Michigan — election deniers poised to win primaries to be their state's top election officialIn two of the battleground states that flipped from Trump to President Joe Biden in the 2020 election, the race for secretary of state, the top election official, is on the minds of Trump and other who believe that election was ""stolen.""In Arizona, State Rep. Mark Finchem, a member of the far right Oath Keepers who helped organize the ""#StopTheSteal"" movement in Arizona, is running on a platform of outlawing early voting. Finchem was endorsed by Trump in Sept. 2021. Both he and another primary candidate, state Rep. Shawnna Bolick, believe the Arizona legislature should be empowered to overturn the will of the voters and choose its own presidential electors and revoke election certifications. They are facing down two other Republican candidates, state Rep. Michelle Ugenti-Rita and businessman Beau Lane, who don't believe in election conspiracies but still support stricter voting requirements.Democrats have two candidates: Maricopa County Recorder Adrian Fontes, a controversial figure who went against Hobbs' office's counsel and sent Democratic primary ballots to registered partisans who didn't request them, and Arizona House Minority Leader Reginald Bolding, who has more buy-in from the state party.In Michigan, there is no primary to choose the position; instead the state's respective parties vote for their preferred candidate. Kristina Karamo, the likely GOP nominee in November, was a poll watcher in 2020 who signed an affidavit claiming she had witnessed voter fraud during the ballot counting in Detroit. Her claim has been debunked. She signed onto a lawsuit to overturn Biden's 154,188 vote win in 2020 and called for a ""forensic audit"" of the election. She will face Democratic incumbent Jocelyn Benson, who helped institute dropping the state's requirement that voters have an excuse in order to obtain a mail ballot, the result of a 2018 ballot measure. Benson sent all registered voters a ballot, which prompted the criticism of Trump and Republicans.  Arizona state Senate's 10th District: GOP House Speaker Rusty Bowers faces party revolt in his bid for state SenateArizona GOP House Speaker Rusty Bowers, following his decision to testify before the House select committee investigating the Jan. 6 Capitol attack, is facing a revolt from his party. He's term-limited out of his House seat, and is instead running for state Senate. While typically such a prominent Republican leader might easily win a primary contest, Bowers' case is different.  Rusty Bowers, Arizona state House Speaker, testifies as the House select committee investigating the Jan. 6 attack on the U.S. Capitol continues to reveal its findings of a year-long investigation, at the Capitol in Washington, Tuesday, June 21, 2022. Jacquelyn Martin / AP Days away from the primary election, the Arizona GOP voted to formally censure the leader for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusals to support Trump-backed attempts to overturn the 2020 election. This year, for instance, Bowers helped block a bill, introduced by now-Secretary of State candidate Rep. Shawnna Bolick, that empowered the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth. Abortion on the ballot in KansasSharing the ballot with the GOP gubernatorial primary on Tuesday is Kansas' ""Value Them Both Amendment,"" where a ""yes"" vote would affirm the lack of a constitutional right to abortion in Kansas and enable the GOP-led legislature to pass new laws restricting or banning abortion access. A ""no"" vote against the amendment upholds the right to an abortion in the state. Kansas voters to decide if abortion should remain constitutionally protected in the state. AP Photos/John Hanna As of the morning of Saturday, 244,990 ballots have been cast early, including 111,400 Republicans, 96,871 Democrats and 35,450 independents both with returned mail in voting and early in person voting, according to Kansas' Secretary of State office. In 2018, 70,575 voters cast a ballot early.Kansas Governor Tuesday's primary will finalize the matchup between incumbent Democratic Governor Laura Kelly and Republican Attorney General Derek Schmidt. Republicans are eager to oust Kelly, a former state senator who  won her race in 2018 by focusing on education and riding on a wave of economic animosity towards outgoing Republican Governor Sam Brownback and his failed economic policies.House primaries: Test of lawmakers who voted to impeach TrumpThree of the 10 House Republicans who voted to impeach Trump are on the ballot Tuesday: Peter Meijer of Michigan's 3rd District, Dan Newhouse of Washington's 4th District and Jamie Herrera-Beutler of Washington's 3rd District. A majority of those 10 House Republicans are out– four retired before their primaries and one, Rep. Tom Rice of South Carolina, lost his primary against a Trump-backed challenger. Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.An internal poll from Gibbs campaign from mid-July showed him with an 18-point lead over Meijer. That number grows after voters are told of Trump's endorsement of Gibbs. But, Meijer has easily led in fundraising, $2.7 million raised this cycle compared to Gibbs' $484,000. Meijer and allies argued that Gibbs would be a terrible GOP nominee who would put the seat at risk, due to his extreme stances on abortion and the 2020 election, particularly since  redistricting has pushed the district west, making it slightly more Democratic. Hillary Scholten, an attorney who lost to Meijer by 6 points in 2020, is running unopposed in the primary this year. Outside involvement from the Democratic Congressional Campaign Committee suggests Meijer is right, and Democrats agree with him that Gibbs is the weaker candidate. The DCCC, in a similar trend to other Democratic groups advertising in GOP primaries, spent at least $410,000 on an ad calling Gibbs ""too conservative"" for the district at the same time it touts his policies likely to be popular with Republican primary voters. The approach has been panned already by a notable number of House Democrats and Meijer, who called Democrats hypocritical in an op-ed Monday and noted that the DCCC's buy is more than what Gibbs has raised throughout the campaign. Meijer has received some outside help on his end too: House Minority Leader Kevin McCarthy donated $10,000 to Meijer's campaign through an affiliated PAC. In Washington, Newhouse and Herrera-Beutler are navigating the state's primary system, where the top two vote getters, regardless of party affiliation, move on to the general election in November. Both are facing Trump-backed challengers and face a risk of being shut out due to Trump-backed challengers. For Newhouse, he has to beat 2020 gubernatorial candidate Loren Culp. Herrera-Beutler has three Trump-like challengers, with former U.S. Army Green Beret Joe Kent as Trump's pick. ""Others are trying to say they have my endorsement and they absolutely don't. I don't even know them,"" Trump said in a telerally for Kent.  Multiple candidates could split the Trump base, which could  help Herrera-Beutler in the 3rd District, where the Democratic candidate has earned enough of the vote to make it to the November election in the last five primaries. Other races to watch:Michigan's 11th District's Democratic primary: Two Democratic incumbents are in a primary for this seat northwest of Detroit in Oakland County. Rep. Haley Stevens has the familiarity edge over Rep. Andy Levin, since close to half of her old district remains the same under the new lines. Stevens has also been supported on the airwaves by pro-Israel PACs with ties to Republicans, a frequent complaint this Democratic primary cycle by more progressive candidates and organizations. Arizona's 2nd District Republican primary: The open GOP primary has a continuum of election deniers making their case for the seat: On one end, Ron Watkins, a Qanon conspiracy theorist and the developer behind 8kun, argued during a recent debate that Congress should have decertified the results and must investigate the 2020 election. On the other small business owner Andy Yates said he doesn't believe the 2020 election was stolen and wants to ""move on"" from the two-year-old contest. Between them, Arizona state Rep. Walt Blackman believes the results to have been stolen, yet rejects the idea that election results may be decertified . Any one of the three could move on to face incumbent Democratic Rep. Tom O'Halleran. Washington's 8th District: Democrat Rep. Kim Schrier's seat is a top target for House Republicans. But the party still has to pick their nominee in November: either councilman Reagan Dunn, 2020 GOP nominee Jesse Jensen or former George W. Bush aide Matt Larkin. Kansas' 3rd District: Republican-led redistricting in Kansas has made Democratic Rep. Sharice Davids' more vulnerable to flip in November. 2020 nominee Amanda Adkins will first have to get past veteran John McCaughrean. On the primary ballot in Kansas is a vote on restricting abortion access, which Adkins has backed. Sarah Ewall-Wice contributed to this article. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",2022 midterm primaries: What races to watch on August 2.
"U.S. House Speaker Nancy Pelosi (D-CA) addresses reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. Register now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters Breakingviews) - China’s financial constraints raise the risk of a showdown with the United States. Nancy Pelosi, the speaker of the U.S. House of Representatives, landed in Taiwan on Tuesday despite warnings from Beijing not to visit the island it has vowed to reunify by force, if necessary. Economic volatility and vital supply chains make it hard for Chinese President Xi Jinping to retaliate against U.S. and Taiwanese companies. Oddly, that might make a military confrontation more likely.Pelosi has a record of grandstanding on China; in 1991 she unrolled a banner in Beijing’s Tiananmen Square in support of democracy protesters. Now she’s become the second speaker to visit Taiwan, following Newt Gingrich in 1997, when relations were warmer, and China was weaker. Though U.S. President Joe Biden has distanced his administration from the visit, Chinese state media is warning of a military response.For American and Taiwanese businesses, the question is whether Beijing will retaliate against them. Taiwan is vulnerable. Its exports to the mainland and Hong Kong topped $188 billion last year, accounting for over 40% of the total. For agriculture, the proportion is higher. Mainland officials banned imports of some 100 Taiwanese food products on Monday night, local media reported.Register now for FREE unlimited access to Reuters.comHowever, Beijing has little choice but to keep importing higher-value goods, like the semiconductors Taiwan specialises in. Cutting off chip supplies to Chinese manufacturers would rebound on exports; Taiwanese giants like TSMC (2330.TW) and Foxconn (2317.TW) are also huge employers on the mainland. The same applies to many American companies.China also has cause not to go overboard on choking off investment. Punishing U.S. and Taiwanese firms operating in the People’s Republic would validate those who argue that foreigners should vacate the market, as carmaker Stellantis (STLA.MI) did in July.With nearly every economic indicator headed south except for exports, Xi is under pressure as he prepares to seek a third term in office. Capital flight or trade disruption would not help his position. However, Xi may also feel obliged to placate enraged nationalists at home. That raises the chances of a military show of strength, and an accidental clash between nuclear-armed states in one of the world’s busiest sea lanes. Business peace is no substitute for the real thing.(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)Follow @petesweeneypro on TwitterCONTEXT NEWSU.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan on Aug. 2.Chinese Foreign Minister Wang Yi said on Aug. 2 that U.S. politicians who “play with fire” on the Taiwan issue will “come to no good end”.Chinese warplanes buzzed the line dividing the Taiwan Strait before Pelosi’s visit.U.S. President Joe Biden has publicly distanced himself from Pelosi’s decision.Register now for FREE unlimited access to Reuters.comEditing by Peter Thal Larsen and Oliver TaslicOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.Pete SweeneyThomson ReutersAsia Economics Editor Pete Sweeney joined Reuters Breakingviews in Hong Kong in September 2016. Previously he served as Reuters' chief correspondent for China Economy and Markets, running teams in Shanghai and Beijing; before that he was editor of China Economic Review, a monthly magazine focused on providing news and analysis on the mainland economy. Sweeney came to China as a Fulbright scholar in 2008, and in that role conducted research on the Chinese aviation industry and outbound M&A. In prior incarnations he helped resettle refugees in Atlanta, covered the European Union out of Brussels, and took a poorly timed swing at craft-beer entrepreneurship in Quito even as the Ecuadorean currency collapsed (not his fault). He speaks Mandarin Chinese, at the expense of his Spanish.",China’s economic plight ups Pelosi visit risks.
"Celsius Network, once a titan of the crypto lending world, is in bankruptcy proceedings and facing down claims that it was running a Ponzi scheme by paying early depositors with the money it got from new users. Some of the 1.7 million customers ensnared by the alleged fraud are now directly pleading with the Southern District of New York to help them get their money back.Christian Ostheimer, a 37 year-old living in Connecticut, wrote in a letter included in court exhibits that he trusted Celsius with his retirement savings and has lost more than $30,000, which has brought him into ""unsurmountable tax complications.""""It is in your hands, honorable judge to make this a different case were not the lawyers, the attorneys, the big corporations and managers get paid out first but the little man, the mom and pop, the college grad, the granny and grandpa — all those many small unsecured creditors — so that they are not like usual at the end of the chain where they lose everything,"" writes Ostheimer.The question of who gets repaid first — should that day ever come — looms heavy over the bankruptcy proceedings.At its peak in October 2021, CEO Alex Mashinsky said the crypto lender had $25 billion in assets under management. Now, Celsius is down to $167 million ""in cash on hand,"" which it says will provide ""ample liquidity"" to support operations during the restructuring process. Celsius owes its users around $4.7 billion, according to its bankruptcy filing.That filing also shows that Celsius has more than 100,000 creditors, some of whom lent the platform cash without any collateral to back up the arrangement. The list of its top 50 unsecured creditors includes Sam Bankman-Fried's trading firm Alameda Research, as well as an investment firm based in the Cayman Islands. Those creditors are likely first in line to get their money back, leaving smaller retail investors holding the bag.Unlike the traditional banking system, which typically insures customer deposits, there aren't formal consumer protections in place to safeguard user funds when things go wrong. Celsius spells out in its terms and conditions that any digital asset transferred to the platform constitutes a loan from the user to Celsius. Because there was no collateral put up by Celsius, customer funds were essentially just unsecured loans to the platform.Also in the fine print of Celsius' terms and conditions is a warning that in the event of bankruptcy, ""any Eligible Digital Assets used in the Earn Service or as collateral under the Borrow Service may not be recoverable"" and that customers ""may not have any legal remedies or rights in connection with Celsius' obligations."" The disclosure reads like an attempt at blanket immunity from legal wrongdoing, should things ever go south.On July 19, Celsius published a document detailing next steps for customers. In it, they say their chapter 11 bankruptcy plan will ""provide customers with the option, at the customers' election, to recover either cash at a discount or remain 'long' crypto,"" but it is unclear whether customers will ever see their money again.The entire process lays bare just how much of crypto regulation in the U.S. happens by enforcement.The Securities and Exchange Commission has effectively become one of the industry's top regulators in the country, including weeding out Ponzi and pyramid schemes, and it appears that some precedent will be set in U.S. bankruptcy court in coming months as lawmakers deliberate over formal legislation on Capitol Hill.Pleas from investorsIn the hundreds of letters officially submitted to the court, retail investors beg to be put at the front of the line to receive their money back.Flori Ohm, a single mother of two college-bound daughters, says that her family has been ""severely impacted both in financial and mental health"" by the bankruptcy which has left her funds stranded on the platform. Ohm, who also supports her parents, says she can't sleep or focus on work.""I am struggling hard [to make a] living,"" she writes.Jeanne Y Savelle, who describes herself as a ""little retired old lady"" living on a fixed income, says she turned to Celsius in search of a way to supplement her monthly Social Security check to stretch her dollar amid record levels of inflation.""I purchased my small amount of crypto hoping just to earn enough to help me weather a few years, kind of a safety net,"" said Savelle. ""Yes, I know, buyer beware but I agree that there has been way too much deception.""Others have lost everything.California resident Stephen Bralver says he has less than $1,000 left in his Wells Fargo checking account — now his only source of funds to provide for his family since Celsius suspended all withdrawals.""There is absolutely no way that I can continue to provide without access to my assets at Celsius,"" he writes to Judge Martin Glenn, who is overseeing the Celsius bankruptcy proceedings in New York.""This is an EMERGENCY situation, simply to keep a roof over my family and food on their table,"" continues Bralver's letter.Sean Moran of Dublin writes that he lost the family farm in Ireland and his family is homeless.""Can't believe that they lied to us on the weekly AMA about not trusting banks whilst all along they we're wolfs in sheep clothing false promises and misleading information."" He continues, ""I'm mentally unstable. Family are distraught with my decisions of trusting Celsius and promising them a better future.""Beyond the financial devastation described in each of these letters, one recurring theme centers around a sense of betrayal over the breach of trust between Celsius CEO Alex Mashinsky and his customers.Three weeks after Celsius halted all withdrawals due to ""extreme market conditions"" — and a few days before the crypto lender ultimately filed for bankruptcy protection — the platform was still advertising in big bold text on its website annual returns of nearly 19%, which paid out weekly.""Transfer your crypto to Celsius and you could be earning up to 18.63% APY in minutes,"" read the website on July 3.Ralphael DiCicco, who disclosed holdings of roughly $15,557 in crypto assets on Celsius, said he was fooled by the marketing.""I believed in all the commercials, social media and advertising that showed Celsius was a high yield, low risk savings account. We were ensured that our funds are safer at Celsius than in a bank,"" writes DiCicco.""This money is pretty much my life savings...I hope you can find it the best interest of all parties involved to pay back the smaller investors first...before any restructuring occurs,"" continued DiCicco.Travis Rodgers of Phoenix says that he was told on numerous phone calls to Celsius Network, as recently as two days before it locked depositors' accounts, that there was no danger to client assets and zero probability of bankruptcy. Rodgers says that he recorded several of those calls. He claims his Celsius holdings total $40,000 across eleven cryptocurrencies, including Cardano's token ADA.The weekly ask-me-anything events hosted by Mashinsky on YouTube are mentioned in multiple letters, including one sent in by Stephen Richardson, who itemizes the many ways in which he feels Mashinsky deceived the public in order to lure new customers into the scheme.Richardson says he watched every single Friday AMA since signing up.""Alex would talk about how Celsius is safer than banks because they supposedly don't rehypothecate and use fractional reserve lending like the banks do,"" writes Richardson. ""I currently have six figures worth of crypto locked in my Celsius account unable to be withdrawn, despite Alex's claims mere hours before withdrawals were closed that nobody has any issue withdrawing from Celsius and that everything you hear to the contrary is simply 'fud.'""Some have even contemplated suicide if they can't retrieve their funds.Katie Davis appeals to Judge Glenn about the $138,000 that she and her husband have stranded on the Celsius platform.""The thought of losing that amount of money is horrifying,"" Davis writes.""If I do not get that back, I will end my life as the loss will impact my family and I significantly,"" she shares.Mashinsky did not immediately respond to CNBC's request for comment.","Homeless, suicidal, down to last $1,000: Celsius investors beg bankruptcy judge for help."
"Feb 10, 2022; Miami Gardens, FL, USA; Miami Dolphins owner Stephen M. Ross speaks during a press conference introducing new Miami Dolphins head coach Mike McDaniel (not pictured) at Baptist Health Training Center. Mandatory Credit: Sam Navarro-USA TODAY SportsRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 2 (Reuters) - The National Football League (NFL) docked the Miami Dolphins draft picks and suspended team owner Stephen Ross for violating the league's anti-tampering policy on Tuesday but said the team did not intentionally lose games in the 2019 season.The Dolphins must forfeit their 2023 first-round pick and third-round pick in 2024, the league said. Ross received a $1.5 million fine and will be prohibited from representing the club at any NFL event through Oct. 17.The Dolphins had ""impermissible communications"" with quarterback Tom Brady while he was with the New England Patriots in 2019 and in 2021 when he was with the Tampa Bay Buccaneers, according to the findings of the investigation, led by former U.S. Attorney and SEC Chair Mary Jo White.Register now for FREE unlimited access to Reuters.comThe inquiry found the Dolphins had also improperly communicated with the agent for New Orleans Saints' then-head coach Sean Payton in January.The NFL's anti-tampering rules prevent teams interfering in the relationship between employer and employee at another club.Ross said he strongly disagrees with the findings and the punishment with regard to tampering but will accept the outcome.""The most important thing is that there be no distractions for our team as we begin an exciting and winning season,"" he said in a statement. ""I will not allow anything to get in the way of that.""But the NFL said that the team did not intentionally lose games - or ""tank"" - during the 2019 season, as had been alleged by former head coach Brian Flores.Flores, who is Black, was fired in January after back-to-back seasons with winning records and sued the NFL and its teams in February alleging discrimination against Black candidates for top-level coaching and management jobs in the NFL. read more He said he was offered $100,000 per loss in 2019 by Ross, in order to help improve the team's draft position.The NFL said that ""such a comment was not intended or taken to be a serious offer"" but that Ross ""expressed his belief that the Dolphins' position in the upcoming 2020 draft should take priority over the team's win-loss record,"" prompting Flores to express his concerns to senior executives at the team.After those concerns were raised, Ross no longer made such remarks to Flores, the NFL said.""Even if made in jest and not intended to be taken seriously, comments suggesting that draft position is more important than winning can be misunderstood and carry with them an unnecessary potential risk to the integrity of the game,"" NFL Commissioner Roger Goodell said in a statement.""The comments made by Mr. Ross did not affect Coach Flores' commitment to win.""Flores said he was ""thankful that the NFL’s investigator found my factual allegations against Stephen Ross are true.""""At the same time, I am disappointed to learn that the investigator minimized Mr. Ross’s offers and pressure to tank games especially when I wrote and submitted a letter at the time to Dolphins executives documenting my serious concerns,"" he added in a statement.Ross said he believed that the findings cleared the Dolphins of allegations of tanking and all of Flores's other allegations.""These allegations were false, malicious and defamatory, and this issue is now put to rest,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Amy Tennery in New York
Editing by Toby DavisOur Standards: The Thomson Reuters Trust Principles.","Dolphins docked draft picks, owner suspended for tampering."
"People walk by One World Trade Center after US President Joe Biden confirmed the death of al Qaeda leader Ayman al-Zawahiri in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Two Hellfire missiles fired from a drone killed the leader of al Qaeda, causing surprisingly little damage beyond the target, suggesting they may be a version shrouded in secrecy and used by the United States to avoid non-combatant casualties.Officials said the missiles killed al Qaeda leader Ayman al-Zawahiri while he stood on a balcony at his home in downtown Kabul, Afghanistan, over the weekend in the biggest blow to the militants since Osama bin Laden was killed in 2011. read more A senior administration official told reporters two Hellfire missiles were fired from an unmanned aerial vehicle at Zawahiri. U.S. officials said no one else was killed or wounded in the attack.Register now for FREE unlimited access to Reuters.comHellfire missiles, mostly made by Lockheed Martin(LMT.N), are precision guided munitions for air-to-ground strikes that normally cause significant damage, taking down whole buildings and killing or severely injury anyone nearby.Social media images of the strike pointed to the hallmarks of a modified Hellfire with six blades to damage targets and called the R9X, sources familiar with the weapon said. It is largely aimed at individual targets, such as militants in Syria.The images showed windows destroyed on the second floor while the structure of the house remained intact despite being hit by Hellfires.Officials believe the R9X is less likely to cause civilian casualties because instead of exploding, the missile cuts through targets with the sharp blades.The MQ-9 Reaper, made by General Atomics, is the only drone that is publicly known to carry the Hellfire missile.A Pentagon spokeswoman referred a query on the R9X missiles to U.S. Special Operations Command, which would be the prime purchaser of the missile.Register now for FREE unlimited access to Reuters.comReporting by Mike Stone and Idrees Ali in Washington; Editing by Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Little-known modified Hellfire likely killed al Qaeda's Zawahiri.
"U.S. August 2, 2022 / 1:05 PM / CBS News Georgia prosecutor seeks testimony from Trump allies Georgia prosecutor seeks testimony from Trump allies 00:24 Former Trump White House Counsel Don McGahn will be among the lawyers representing Sen. Lindsey Graham in his effort to block a subpoena from a Georgia special grand jury investigating Donald Trump's behavior after losing the 2020 election, court records show.The South Carolina Republican is among a slew of Trump allies subpoenaed since May by the Fulton County special grand jury, which has also heard from Georgia state officials who rebuffed the former president's attempts to overturn the election.Graham was a member of the Senate Judiciary Committee when McGahn shepherded through the nominations of Supreme Court Justices Neil Gorsuch and Brett Kavanaugh. Graham later chaired the committee. McGahn now works for the law firm Jones Day, where he ""advises clients on high-stakes matters that require navigating and challenging assertions of government authority,"" according to his company biography. A spokesperson for Jones Day did not return a request for comment.Graham originally challenged the subpoena in federal court in South Carolina, but that motion was quickly dismissed after attorneys for Fulton County District Attorney Fani Willis argued Georgia is the proper jurisdiction. Graham's subpoena calls for him to testify in August, and Judge Leigh Martin May has set an expedited schedule, requiring both sides to file arguments this week. Prosecutors alleged in Graham's subpoena that he spoke to Georgia Secretary of State Brad Raffensperger after the 2020 election and questioned him ""about reexamining certain absentee ballots cast in Georgia in order to explore the possibility of a more favorable outcome"" for Trump. President Joe Biden won Georgia by just under 12,000 votes, or 0.5%. Graham has acknowledged the phone calls in the past and dismissed any allegations of wrongdoing, telling ""Face the Nation"" in January that he ""asked about how the system worked when it came to mail-in voting, balloting.""Graham's attorneys argued in their motion that he was performing ""legislative acts"" in inquiring about the election.""In making these calls, after the election, Senator Graham was engaged in quintessentially legislative factfinding—both to help him form election-related legislation, including in his role as then-Chair of the Judiciary Committee, and to help inform his vote to certify the election,"" they wrote. Graham Kates Graham Kates is an investigative reporter covering criminal justice, privacy issues and information security for CBS News Digital. Contact Graham at KatesG@cbsnews.com or grahamkates@protonmail.com Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Lindsey Graham hires former Trump White House counsel Don McGahn in Georgia election investigation.
"Morsa Images | DigitalVision | Getty ImagesMany workers who changed jobs recently saw raises from their new paychecks outpace inflation by a wide margin — by nearly 10% or more, according to a new study by the Pew Research Center.The typical American who changed employers in the year from April 2021 to March 2022 got a 9.7% bump in their ""real"" wages over a year earlier, according to Pew, a nonpartisan research organization, which analyzed federal labor data.""Real"" wages measure the change in a worker's pay after accounting for inflation, which in June was at its highest level in more than 40 years.More from Personal Finance:Credit card balances jump 13%, most in over 20 yearsEmployee stock purchase plans can carry 'a big risk'Here are the 'most employable' college degreesThe figure cited by Pew represents the median, meaning half of workers who switched jobs got a net pay increase of 9.7% or more. The other half of job switchers got a smaller net raise or saw their net earnings decline.Workers have been leaving their jobs at elevated rates since early 2021 in a trend known as the Great Resignation. Demand for workers boomed as the U.S. economy reopened broadly from its pandemic-era hibernation, leading businesses to compete by raising pay.Workers who switched jobs reaped more of a financial benefit than those who stayed with their employer, Pew found. The median worker who remained at the same job from April 2021 to March 2022 saw their earnings fall by 1.7% after accounting for inflation, according to the study.The dynamic of higher wage growth for job switchers relative to other workers was typical even before the Covid pandemic, but it's likely stronger in the current labor market given how rapidly wages are rising, according to Daniel Zhao, senior economist at the career site Glassdoor.""Workers have the most leverage when they go out and switch jobs and find another employer willing to reset their pay to the market level,"" Zhao said.Employers don't have as much incentive to give big raises to employees who remain in their current roles, because they're implying a willingness to stay put for their current pay, Zhao said. And employers generally give raises just once a year; someone who finds new employment essentially get an extra raise, he said.Job market, still hot for now, may coolA restaurant in Arlington, Virginia, was hiring as of June 3, 2022.Olivier Douliery | AFP | Getty ImagesHowever, U.S. Department of Labor data issued Tuesday suggests a slowdown in the labor market is underway — meaning workers' bargaining power may wane, too.Job openings, an indicator of employer demand for workers, fell to 10.7 million in June, a decrease of about 605,000 relative to May, the agency reported. It was the third consecutive month of declines since March, when there were almost 11.9 million job openings, a record — meaning there may be fewer opportunities to hop to a new job.The Federal Reserve is raising borrowing costs in a bid to cool the economy and labor market to tame stubbornly high inflation. While it generally takes time for that monetary policy to work its way through certain sectors of the economy, employers may be pulling back on hiring plans in anticipation of a slowdown, Zhao said.""It does seem like worker power during the last two years was likely strongest at the end of last year or beginning of this year,"" Zhao said. ""If the job market continues to cool, we should expect to see worker power cool, as well.""Despite that relative cooldown, the labor market still appears to be tilted in workers' favor. Job openings remain well elevated from historical levels despite the significant drop in June. Layoffs also declined, meaning employers are hanging onto their existing workers.The level of voluntary departures (quits) — another barometer of worker power — declined slightly from May to June, though as with the level of job openings it is still high in historical terms. However, departures in two sectors — finance and real estate — fell back to pre-pandemic levels in June, suggesting the Great Resignation in those industries has come to an end, Zhao said.""At this point in the labor market recovery, a decline in job openings isn't concerning,"" according to Nick Bunker, an economist at job site Indeed. ""A pullback in hiring intentions absent a significant decline in actual hiring is a sign of a cooling labor market, but not one where the temperature is plummeting.""The labor market remains hot,"" he added. ""A continued slow cooldown would be more than manageable.""","Typical job switcher got a pay raise of nearly 10%, study finds."
"SummaryBout dubbed 'the merchant of death' and 'sanctions buster'Was among most wanted men in world before 2008 arrestClients included rogue states, warlords in Asia, AfricaLikely had ties to Russian intelligence, experts sayMoscow has long sought his release from long US jail termLONDON, Aug 1 (Reuters) - The life of Viktor Bout, the Russian arms dealer jailed in the United States and linked to a possible swap for two U.S. citizens detained by Moscow, sometimes reads like a far-fetched spy thriller.Variously dubbed “the merchant of death” and “the sanctions buster” for his ability to get around arms embargoes, Bout, 55, was one of the world’s most wanted men prior to his 2008 arrest on multiple charges related to arms trafficking.For almost two decades, Bout became the world’s most notorious arms dealer, selling weaponry to rogue states, rebel groups and murderous warlords in Africa, Asia and South America.Register now for FREE unlimited access to Reuters.comHis notoriety was such that his life helped inspire a Hollywood film, 2005’s Lord of War, starring Nicholas Cage as Yuri Orlov, an arms dealer loosely based on Bout.Even so, Bout’s origins remained shrouded in mystery. Biographies generally agree that he was born in 1967 in Dushanbe, then the capital of Soviet Tajikistan, close to the border with Afghanistan.A gifted linguist, who later used his reported command of English, French, Portuguese, Arabic and Persian to build his international arms empire, Bout reportedly attended the Dushanbe Esperanto club as a young boy, becoming fluent in the artificial language.A stint in the Soviet army followed, where Bout has said he achieved the rank of lieutenant, serving as a military translator including in Angola, a country that would later become central to his business.Bout’s big breakthrough came in the days after the 1989-91 collapse of the Communist bloc, cashing in on a sudden glut of discarded Soviet era weaponry to fuel a series of fratricidal civil wars in Africa, Asia and beyond.With the Soviet Union’s vast air fleet disintegrating, Bout was able to acquire a squadron of around 60 old Soviet military aircraft based out of the United Arab Emirates, by which he could supply his products around the world.BUSINESS OVER POLITICSA 2007 biography entitled ""Merchant of Death: Guns, Planes, and the Man Who Makes War Possible"" by Douglas Farah and Stephen Braun reported the following details of Bout's shadowy trade.From a base in the Gulf emirate of Sharjah, he interwove his arms trafficking empire with a seemingly innocuous logistics business, always insisting when queried that he was a legitimate entrepreneur with respectable clients and no case to answer.Even so, Bout, who first appeared on the CIA's radar amid reports of a shadowy Russian citizen trading arms in Africa, was by the turn of the millennium one of the most wanted men in the world.But Bout, whose clients included rebel groups and militias from Congo, to Angola and Liberia, had little in the way of firm ideology, tending to place business above politics.In Afghanistan, he variously sold guns to Islamist Taliban insurgents and their foes in the pro-Western Northern Alliance, according to ""Merchant of Death"".It said Bout supplied guns to former Liberian President and warlord Charles Taylor, now serving a 50-year prison term for murder, rape and terrorism, to various Congolese factions, and to Philippine Islamist militant group Abu Sayyaf.The end only came in 2008, after an elaborate sting operation by the U.S. Drug Enforcement Administration saw Bout tracked across multiple countries to a luxury hotel in Bangkok.During a spectacular sting operation, Bout was caught on camera agreeing to sell undercover U.S. agents posing as representatives of Colombia's leftist FARC guerrillas 100 surface-to-air missiles, which they would use to kill U.S. troops. Shortly afterwards, he was arrested by Thai police.Suspected Russian arms dealer Viktor Bout is escorted by members of a special police unit after a hearing at a criminal court in Bangkok October 5, 2010. REUTERS/Sukree Sukplang/File PhotoAfter over two years of diplomatic wrangling in which Russia loudly insisted that Bout was innocent and his case politically charged, Bout was extradited to the United States, where he faced a raft of charges, including conspiracy to support terrorists, conspiracy to kill Americans, and money laundering.Bout was tried on the charges related to FARC, which he denied, and in 2012 was convicted and sentenced by a court in Manhattan to 25 years in prison, the minimum sentence possible.Ever since, the Russian state has been keen to get him back.U.S. WILLING TO SWAP BOUT -SOURCEOn July 27, U.S. Secretary of State Antony Blinken said Washington had made ""a substantial offer"" to Russia to release Women's National Basketball Association (WNBA) star Brittney Griner and ex-U.S. Marine Paul Whelan.Two days later, Blinken said he had a ""frank and direct conversation"" by phone with Russian Foreign Minister Sergei Lavrov by phone and pressed Moscow to accept the proposal. read more Blinken declined to say what the United States was offering in return for Griner and Whelan. A source familiar with the situation confirmed a CNN report that Washington was willing to exchange Bout as part of a deal. read more Lavrov suggested to Blinken that the two sides return to quiet diplomacy on the issue of prisoner swaps ""rather than throwing out speculative information"", a Russian foreign ministry statement said.Lavrov has said Bout's extradition from Thailand was ""a glaring injustice"" and suggested he was innocent.Comments from a 2012 interview with the judge who presided over Bout’s New York City trial that his 25-year sentence was “excessive” have occasionally been seized on by Russian media making the case for Bout’s return home.Earlier this year, speculation rose that Bout was set to be exchanged for Trevor Reed, a U.S. Marine Corps veteran jailed in Russia on assault charges. Reed was ultimately freed in return for Konstantin Yaroshenko, a Russian pilot jailed in the United States on drug trafficking charges.For experts, the Russian state's continued interest in Bout, plus his skills and connections in the international arms trade, hint strongly at Russian intelligence ties.In interviews, Bout has said he attended Moscow's Military Institute of Foreign Languages, which serves as a training ground for military intelligence officers.""Bout was almost certainly a GRU agent, or at least a GRU asset,"" said Mark Galeotti, an expert on the Russian security services at the Royal United Services Institute think tank, referring to Russia's military intelligence service.“His case has become totemic for the Russian intelligence services, who are keen to show that they don’t abandon their own people,” Galeotti added.According to Christopher Miller, a journalist who has corresponded with neo-Nazis imprisoned along with Bout at United States Penitentiary Marion in Illinois, the former arms dealer keeps a photo of Russian President Vladimir Putin in his cell and says he does not believe Ukraine should exist as a state.Reached by Reuters over the WhatsApp messaging service, Bout’s wife Alla, who lives in St Petersburg, said: “We very much hope that everything will be resolved and an agreement will be reached.""All that’s left to do is to pray,” she added.Register now for FREE unlimited access to Reuters.comReporting by Reuters
Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.","Who is Viktor Bout, arms dealer linked to swap for Americans held by Moscow?."
"Vials labelled ""VACCINE Coronavirus COVID-19"" and a syringe are seen in front of a displayed EU flag in this illustration taken December 11, 2021. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comBRUSSELS/BARCELONA, Aug 2 (Reuters) - The European Commission said on Tuesday it had signed a joint procurement contract with Spanish pharmaceutical firm HIPRA for the supply of its protein COVID-19 vaccine, which will be available if approved by the European Medicines Agency (EMA).The European Union's executive said in a statement that 14 countries are participating in the agreement, under which they can purchase up to 250 million doses.HIPRA hopes its vaccine, which is under a rolling review by the EMA, will be approved and ready to be administered by the autumn, the Spanish company said in a statement, calling the EU's announcement a ""sign of confidence"" in its shot.Register now for FREE unlimited access to Reuters.comEuropean Commissioner for Health Stella Kyriakides said in the EU statement that with COVID-19 infections on the rise in Europe, ""we need to ensure maximum preparedness as we head into the autumn and winter months"".""The HIPRA vaccine adds yet another option to complement our broad vaccine portfolio for our member states and citizens,"" she said, adding that an increase in vaccination and boosting would be essential over the coming months.The HIPRA bivalent recombinant protein vaccine is being developed as a booster dose in previously immunised persons 16 years and older. It uses a recombinant protein like that of U.S. based drugmaker Novavax (NVAX.O).A HIPRA top executive told Reuters in December it was confident there would be EU demand for its experimental COVID-19 vaccine as it is designed to protect against new variants, can be moved easily in low temperatures and be produced in mass quantities. read more HIPRA, which specialised in veterinary vaccines for some 50 years and operates in more than 100 countries, had already sealed a purchase deal for 50 million doses with Vietnam, where it conducted tests.Register now for FREE unlimited access to Reuters.comReporting by John Chalmers and Joan Faus, editing by Marine Strauss and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",EU signs joint procurement deal with Spain's HIPRA for COVID vaccines.
"Register now for FREE unlimited access to Reuters.comMARATHON, Fla., Aug 1 (Reuters) - Florida's sea turtles are grappling with a gender imbalance made worse by climate change. Recent heat waves have caused the sand on some beaches to get so hot that nearly every turtle born was female.""The frightening thing is the last four summers in Florida have been the hottest summers on record,"" said Bette Zirkelbach, manager of the Turtle Hospital in Marathon, a city in the Florida Keys, a string of tropical islands stretching from the southern end of the state.""Scientists that are studying sea turtle hatchlings and eggs have found no boy sea turtles, so only female sea turtles for the past four years,"" Zirkelbach said, whose turtle center has operated since 1986.Register now for FREE unlimited access to Reuters.comWhen a female turtle digs a nest on a beach, the temperature of the sand determines the gender of the hatchlings. Zirkelbach said an Australian study showed similar statistics - ""99% of new sea turtle babies are female.""Instead of determining sex during fertilization, the sex of sea turtles and alligators depends on the temperature of developing eggs, according to the National Oceanographic Atmospheric Administration (NOAA).A Loggerhead turtle is held at the Turtle Hospital, the first licensed veterinarian sea turtle hospital in the world, in Marathon, Florida, U.S., July 29, 2022. REUTERS/Maria Alejandra Cardona TPX IMAGES OF THE DAYIf a turtle's eggs incubate below 81.86 Fahrenheit (27.7 Celsius), the turtle hatchlings will be male, whereas if they incubate above 88.8 F (31C), they will be female, according to NOAA'S National Ocean Service website.""Over the years, you're going to see a sharp decline in their population because we just don't have the genetic diversity,"" said Melissa Rosales Rodriguez, a sea turtle keeper at the recently opened a turtle hospital at the Miami Zoo. ""We don't have the male-to-female ratio needed in order to be able to have successful breeding sessions.""The two turtle hospitals are also battling tumors in turtles known as fibropapillomatosis, also known as FP. These tumors are contagious to other turtles and can cause death if not treated.With climate affecting the future of turtles and the disease being so widespread, Zirkelbach sees the need to save every turtle she can and open more rehab centers.""The Turtle Hospital was the first. But, sadly and fortunately, there's a need all throughout Florida.""Register now for FREE unlimited access to Reuters.comReporting by Maria Alejandra Cardona; Editing by Lisa Shumaker and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",Hotter summers mean Florida's turtles are mostly born female.
"Politics Updated on: August 2, 2022 / 11:28 AM / CBS News CBS News Live CBS News Live Live House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday, arriving for a controversial stop on her tour of Asian countries that has become a flashpoint amid rising tensions between the U.S. and China. Pelosi and other members of Congress emerged from a U.S. military jet that touched down Tuesday evening in Taipei, where they were greeted by a contingent of Taiwanese officials on the tarmac. The plane traveled from Kuala Lumpur on a flight path that avoided the South China Sea and the Chinese mainland, according to the tracking website FlightAware. Pelosi's trip to Taiwan has been cloaked in secrecy and stoked the ire of Beijing, which raised the prospect of a military response to the visit. The White House has said it had no control over Pelosi's decision to visit the island, and has insisted that there has been no change to U.S. policy toward Taiwan and the Chinese government. As the second in line for the presidency, Pelosi is the highest-ranking U.S. official to visit the island in 25 years. The California Democrat's history of pushback against Beijing dates back to 1991, when she displayed a pro-democracy banner in Tiananmen Square, defying Chinese officials. In this photo released by the Taiwan Ministry of Foreign Affairs, U.S. House Speaker Nancy Pelosi arrives in Taipei, Taiwan, on Tuesday, Aug. 2, 2022.  Taiwan Ministry of Foreign Affairs / AP In a statement shortly after the plane landed, Pelosi said her visit was meant to honor ""America's unwavering commitment to supporting Taiwan's vibrant Democracy."" ""Our discussions with Taiwan leadership will focus on reaffirming our support for our partner and on promoting our shared interests, including advancing a free and open Indo-Pacific region,"" she said. ""America's solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy.""The speaker emphasized that the visit ""in no way contradicts longstanding United States policy"" toward Taiwan and China, and said the U.S. ""continues to oppose unilateral efforts to change the status quo.""In an op-ed for The Washington Post explaining her rationale for the visit, Pelosi criticized Beijing's actions in Hong Kong, Tibet, Xinjiang and across the mainland, saying China's ""abysmal human rights record and disregard for the rule of law continue, as President Xi Jinping tightens his grip on power.""A Taiwanese government official said Pelosi was expected to meet with President Tsai Ing-wen and members of the legislature in Taipei. The U.S. delegation is expected to stay Tuesday night in the capital and hold meetings throughout the day Wednesday before departing. The skyscraper Taipei 101, the island's iconic tallest building, flashed messages welcoming Pelosi to the capital ahead of her arrival Tuesday evening. The Taipei 101 building lit up with a message reading ""Speaker Pelosi"" as a welcome sign for House Speaker Nancy Pelosi's visit in Taipei, Taiwan, on Tuesday, Aug. 2, 2022. Bloomberg Beijing considers self-ruled Taiwan to be part of China, and Chinese officials have been warning they would regard Pelosi's visit as a major provocation.China's Ministry of Defense said the People's Liberation Army would soon begin military exercises around the island of Taiwan, including ""long-range live ammunition firing in the Taiwan Strait, and organizing regular-guided fire testing in the eastern waters of Taiwan Island."" A statement from the ministry said the exercise was meant to serve as ""a solemn deterrent against the recent major escalation of the negative actions of the United States on the Taiwan issue, and a serious warning to the 'Taiwan independence' forces seeking 'independence.'""During a two-hour phone call with President Biden last week, Chinese President Xi Jinping demanded Pelosi cancel the trip. Earlier in July, Mr. Biden said U.S. military officials thought it was ""not a good idea"" for Pelosi to visit Taiwan right now. A U.S. Navy official said Tuesday that three U.S. warships were in the waters east of Taiwan conducting routine operations, including the aircraft carrier USS Ronald Reagan, a destroyer and an amphibious assault ship.According to Reuters, Chinese foreign ministry spokesman Zhao Lijian said Monday its military would ""not sit idly by"" if Pelosi visited. During a daily briefing, Lijan said a visit by the ""No. 3 official of the U.S. government"" would ""lead to egregious political impact."" On Monday, National Security Council spokesman John Kirby confirmed Pelosi was traveling on a U.S. military aircraft, and he said she had been briefed on Taiwan.  ""There have been direct conversations with the speaker and her staff before she left at various levels in the national security establishment,"" Kirby said, though he did not confirm any plans by her to travel to Taiwan. ""The president did not speak directly with the speaker about this trip.""Kirby said ""the speaker makes her own decisions"" when asked if the military still believed it was not a good idea for her to go. ""What we did was provide her context, analysis, facts, information, so that she could make the best decision possible for every stop for every overseas travel,"" Kirby added.But Kirby warned about China's ""saber rattling,"" including military provocations such as potentially firing missiles into the Taiwan Strait and large-scale air entry into Taiwan's air space. He also mentioned diplomatic escalations, like Beijing's public assertion last week that the Taiwan Strait is not an international waterway.""Some of these actions would continue concerning trend lines that we've seen in recent years, but some could be of a different scope and scale,"" Kirby said. ""Last time Beijing fired missiles into the Taiwan Strait was 1995 and 1996 after Beijing reacted provocatively to Taiwan's president's visit to deliver an address at his alma mater.""The split between Taiwan and the mainland government began in 1949, when Chinese nationalists fled to the island amid a civil war with the Chinese Communist Party. The Taiwanese government considers itself the legitimate government of China. Beijing views the island as a breakaway rogue state and part of its own territory. The U.S. recognized Beijing as the legitimate Chinese government in 1979 and does not support Taiwanese independence, but maintained informal ties with the government, following a policy of ""strategic ambiguity."" A 2018 law known as the Taiwan Travel Act made the U.S.-Taiwan relationship official, but below the level of formal diplomatic ties.Pelosi is not the first House speaker to visit Taiwan. Former Speaker Newt Gingrich, a Republican, visited in 1997. Other American officials have made low-profile visits to Taiwan to show support to the island, but Pelosi's visit has garnered much more attention. Ramy Inocencio, Nancy Cordes, Kathryn Krupnick, Rebecca Kaplan and Eleanor Watson contributed reporting. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Pelosi lands in Taiwan amid high-pressure standoff with China.
"Local residents gather to receive financial aid during Ukraine-Russia conflict in the Russia-controlled city of Kherson, Ukraine July 25, 2022. REUTERS/Alexander ErmochenkoRegister now for FREE unlimited access to Reuters.comKYIV, Aug 2 (Reuters) - Ukraine has recaptured 53 settlements in the mostly Russian-occupied southern region of Kherson since the start of Moscow's invasion, the regional governor said on Tuesday.Russia captured swathes of southern Ukraine in the first phase of its Feb. 24 invasion. Ukraine is now pledging to conduct a major counter-offensive to retake land and has used Western-made long-range weapons to hit Russian supply lines.""As of now, 53 settlements have been confirmed as liberated,"" acting governor Dmytro Butriy said on national television.That figure was nine settlements more than the number he gave on Monday, which appeared to indicate a quickening tempo of Ukrainian gains in the region.Register now for FREE unlimited access to Reuters.comReporting by Max Hunder; editing by Tom Balmforth and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.",Ukraine has recaptured 53 settlements in Russian-occupied Kherson region - governor.
"Billboard ad of fantasy game ""Genshin Impact"" from Shanghai-based developer Mihoyo is pictured in Hong Kong, China October 20, 2020. REUTERS/Pei LiRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 3 (Reuters) - Unity Software Inc(U.N), the U.S. developer best known for software used to design video games, is in talks to spin off its China unit to help it expand in the world's biggest games market, four people with knowledge of the matter told Reuters.San Francisco-based Unity has sought strategic investors to join it in a business valued at over $1 billion during talks, said two of the people, declining to be identified as they were not authorised to speak publicly on the matter.Unity declined to comment.Register now for FREE unlimited access to Reuters.comThe talks come as strained Sino-U.S. relations exacerbate sensitivities over technology transfer and data handling across borders, prompting tech firms to reappraise their operations in China. At the same time, there is growing interest in expanding game-making software to new technologies such as the so-called metaverse, an immersive three-dimensional internet.Unity entered China in 2012 and its eponymous software, known as a game engine, powers many of the country's most popular games such as ""Honor of Kings"" from gaming leader Tencent Holdings Ltd(0700.HK) and miHoYo's ""Genshin Impact"".Rivals include Tencent-backed Epic Games, the U.S. developer of the increasingly popular Unreal Engine 5.Unity's spin-off plan is being driven by a desire to see its software used more extensively in China in areas as varied as smart city modelling to industrial design, as well as in the metaverse, two of the people said. Potential investors Unity has been speaking to have made big bets on the metaverse, they said.With China tightening data handling regulation, Unity believes a spin-off would aid this expansion as it would give the unit more local ownership and autonomy over how it operates in the country, which could also increase its attraction to local government and state-owned partners, the people said.The spin-off would be one of China's bigger technology deals this year as investment activity has slowed due to weak economic growth, COVID-19 outbreaks and regulatory tightening.Unity China Chief Executive Zhang Junbo has been working on the plan for at least a year, two of the people said. Progress has been further slowed by Unity's share price sinking 80% since its November 2021 high amid weakness in U.S. tech stocks, and by a product missing performance expectations, they said.Zhang disclosed Unity's China expansion ambition last month to local tech media outlet 36Kr without mentioning a spin-off, saying Unity was exploring ways to make its technology ""safe and controllable"" within China - a reference to the government's mandate for important technology to be controlled domestically.He also said Unity would likely hire over a thousand engineers in coming years while expanding offices in Beijing and Guangzhou in addition to its main office in Shanghai.Two of the people said Unity's Shanghai-based employees have been asked to sign contracts with the new entity, and that talks about an operating budget separate to its parent's are ongoing.Register now for FREE unlimited access to Reuters.comReporting by Josh Ye, Julie Zhu and Kane Wu in Hong Kong; Additional reporting by Josh Horwitz in Shanghai; Editing by Brenda Goh and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",EXCLUSIVE U.S. game software developer Unity to spin off China unit to fuel expansion -sources.
"Register now for FREE unlimited access to Reuters.comGENEVA, Aug 2 (Reuters) - A child who contracted the highly infectious Ebola-like Marburg virus in Ghana has died, a World Health Organization official said on Tuesday.The death brings the total number of fatalities in the country to three since Ghana registered its first ever outbreak of the disease last month.The outbreak is only the second in West Africa. The first ever case of the virus in the region was detected last year in Guinea.Register now for FREE unlimited access to Reuters.comThe virus is transmitted to people from fruit bats and spreads among humans through direct contact with bodily fluids, surfaces and materials, the WHO said.The dead child, whose gender or age were not disclosed, was one of two new cases reported last week by WHO.""Last week I mentioned the two additional cases. One is the wife of the index case and the other one is the child of the index case and the child unfortunately died, but the wife is still alive and improving,"" WHO doctor Ibrahima Soce Fall told reporters.The Ghanaian health ministry has only reported three confirmed cases and further testing remains to be done on a fourth suspected case, Soce Fall said. read more The first two cases, in southern Ghana's Ashanti region, both had symptoms including diarrhoea, fever, nausea and vomiting, before dying in hospital, the WHO said previously.Register now for FREE unlimited access to Reuters.comReporting by Wendell Roelf; Editing by Andrew Heavens and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.",Child infected with Marburg virus dies in Ghana.
"Politics August 2, 2022 / 12:01 PM / CBS News Widow advocates for change Police officer's widow advocates for change after husband's Jan. 6-related suicide 09:48 Washington — The Senate on Monday approved a bill that allows the families of public safety officers who die by suicide to seek death benefits, sending the measure to President Biden's desk for his signature.The legislation, called the Public Safety Officer Support Act, was passed by the upper chamber by unanimous consent and was part of an effort to recognize the mental toll that traumatic events — including the Jan. 6, 2021, attack on the U.S. Capitol — have on the law enforcement officers on the frontlines. The House cleared the bill in May with overwhelming bipartisan support, though 17 Republican lawmakers voted against it.Crucial in pressing Congress to clear the measure was Erin Smith, whose husband, Metropolitan Police Department officer Jeffrey Smith, died by suicide in the aftermath of the Capitol assault. A 12-year veteran of the department, Jeff Smith was the target of several assaults after responding to the mob of rioters who breached the Capitol. He ended his own life nine days after the Jan. 6 attack.  Erin Smith fought for more than a year to have his death designated as a line-of-duty death, and the District of Columbia recognized in March that the injury her husband sustained on Jan. 6 while performing his duties was the ""sole and direct cause"" of his death.""I'm gratified at the bill's passage and thank the Senate for unanimously passing this bill and for forever changing the conversation on police silent injuries,"" she said in a statement to CBS News. ""I'm calling on the White House to have a public bill signing in which all of the widows of Jan. 6 can attend to have the sacrifices of their loved ones recognized."" From left, U.S. Capitol Police Officer Harry Dunn; D.C. Metropolitan Police Officer Daniel Hodges; Erin Smith, the widow of D.C. Metropolitan Police Officer Jeffrey Smith; Capitol Police Sgt. Aquilino Gonell, and Michael Fanone, a former D.C. Metropolitan Police Officer, arrive for a hearing of the House Jan. 6 committee on Thursday, June 9, 2022. Tom Williams/CQ-Roll Call, Inc via Getty Images The White House did not immediately return a request for comment. Introduced by Reps. David Trone and Guy Reschenthaler and Sens. Tammy Duckworth and John Cornyn, the bill expands the Public Safety Officers' Benefits Program to cover officers who die by suicide or become permanently disabled because of traumatic service-related experiences. While the program currently covers only physical injuries, the legislation would allow public safety officers to seek disability benefits for post-traumatic stress disorder tied to severe trauma. It also recognizes suicide as a line-of-duty death, allowing the families of first responders who take their own lives to seek death benefits.Duckworth cheered the measure's passage Monday, writing on Twitter that it will ""help ensure surviving family members of public safety officers who died by suicide are eligible to receive support their loved ones earned through a life of service.""""Next up, the president's desk!"" she tweeted.  Trone, too, celebrated the bill's passage by the Senate and said Mr. Biden's signature will ensure officers' families will get essential benefits. The measure was introduced in the Senate in February, more than a year after the Jan. 6 assault, during which U.S. Capitol Police officers and members of the Washington, D.C., Metropolitan Police Department were confronted by a violent mob of former President Donald Trump's supporters attempting to stop Congress from tallying state electoral votes. Four law enforcement officers who responded to the Jan. 6 attack died by suicide within seven months of the insurrection. More than 140 officers with the Capitol Police and Metropolitan Police Department were injured in the Capitol riot, according to the U.S. Capitol Police Labor Committee.Washington, D.C., like many jurisdictions, did not consider suicide a line-of-duty death, and Erin Smith lost her health insurance and income following her husband's death. But in March, the District of Columbia recognized Jeff Smith's death as in the line of duty. The city's Police and Firefighters Retirement and Relief Board said an injury he sustained during the Jan. 6 assault ""was the sole and direct cause of his death,"" and as a result of the line-of-duty designation, Erin Smith could claim financial benefits and ceremonial honors for her husband.Erin Smith now is fighting to have her husband inurned at Arlington National Cemetery, where U.S. Capitol Police Officer Brian Sicknick, who died of natural causes a day after defending the Capitol, was laid to rest in February 2021.""I call on the president and the secretary of the Army to allow me to inurn my husband at Arlington National Cemetery so that he may rest next to U.S. Capitol Police Officer Brian Sicknick,"" she said. ""There is no longer any doubt that he died a hero and in the line of duty in service to his nation.""Cornyn told CBS News in March that the Capitol attack was a ""traumatic event"" not only for those who were in the building, but especially for law enforcement officers who responded and were ""overwhelmed"" by the rioters. He said then that it was ""entirely appropriate"" for officers who develop mental health issues after traumatic events to be covered by the benefits program. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Senate approves bill extending benefits to families of officers who die by suicide, sending it to Biden."
"The inside of Macerich's Tysons Corner Center in Virginia.MacerichThe biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that's squeezing shoppers' budgets.Simon Property Group, the country's largest mall owner, said the pipeline of businesses slated to open up at its properties remains strong. The company reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier.""Even with with what's going on in the world, we really haven't seen anyone back out of deals,"" Simon Property Chief Executive Officer David Simon said on an earnings conference call Monday.""We're seeing a big rebound in Vegas, Florida is on fire ... California is finding its legs,"" he added.Fueling the openings are a mix of factors, including retailers pushing to snap up limited space and popular online brands looking to expand by opening up brick-and-mortar locations. Some retailers are eyeing real estate in markets outside of major cities as they follow people who uprooted to find bigger spaces during the pandemic. And companies including Macy's that shuttered stores in recent years are now testing different formats, often with smaller footprints.So far this year, retailers in the U.S. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings.Before the pandemic, the industry was seeing net closures of thousands of stores every year as consumers increasingly moved their spending online. In 2019, Coresight tracked 9,832 closures, compared with 4,689 openings. Last year, the retail industry eked out a net addition of 68 stores.""Retailers are not going to pull back on store growth,"" said Naveen Jaggi, president of the retail advisory team at JLL, a commercial real estate services firm. ""They're going to continue to grow because that's one of the ways that they can send a message to the market that, 'We're healthy and safe'.""The optimism from retail real estate owners comes amid warning signs from across the industry. In recent weeks, retailers including Walmart, Target, Best Buy, Gap and Adidas slashed their sales or profit outlooks as consumers squeezed by higher gas and grocery bills reign in spending on other items. At the same time, though, luxury retailers including Birkin bag maker Hermes and Louis Vuitton parent LVMH say profits are strong and sales are growing as higher-income consumers continue to splurge on pricey fashion and accessories.At its malls, Simon Property also said it's noticing a split in behavior. Consumers who shop at value-oriented retailers are more likely to be pulling back, Simon said, as are younger shoppers who don't earn as much money. Among those seeing softening sales are the company's teen and fast-fashion retailers Aeropostale and Forever 21, as well as its J.C. Penney department store chain, he said.But he said businesses like men's suit retailer Brooks Brothers, which Simon Property also owns, continues to ring up sales.""The higher-income consumer is still spending money,"" Simon said.Macerich, which operates malls including Tysons Corner Center in Virginia and Scottsdale Fashion Square in Arizona, noted that distress in the retail industry has slowed dramatically after a pandemic-spurred wave of closures in 2020.""Clearly, there are economic uncertainties due to inflation, rising interest rates and the war in Ukraine,"" Macerich CEO Thomas O'Hern said on a conference call last Thursday. ""However, we continue to expect gains in occupancy, net operating income and cash flow from operations through the remainder of this year and into next year.""Macerich said its leasing activity in the second quarter reflected retailer demand at levels not seen since 2015. The company also said it recently polled around 30 of its biggest national tenants and found that roughly 90% have not changed their plans to open new locations this year and next.Also fueling store openings are retailers that started online and are now looking to expand with physical locations, said Douglas Healey, senior executive vice president of leasing at Macerich. Those include athletic apparel brands Fabletics, Alo Yoga and Vuori, shoe maker Allbirds and the furniture chain Interior Define, he said.Macerich said it signed 274 leases in the quarter ended in June, up 27% from a year earlier and up 42% from pre-Covid 2019 levels.Conor Flynn, CEO of shopping center owner Kimco, said he has ""cautious optimism"" about the state of business, given the pressures on consumers. Some retailers are taking advantage of tough times to snag vacant storefronts they will want in years to come, he said on a conference call last Thursday.Construction of new retail space has also hit the brakes for the most part during the pandemic, according to David Jamieson, Kimco's chief operating officer. He said that has put more pressure on businesses to compete for the best available spaces.The availability of retail space at all types of properties including malls in the U.S. hit a 10-year low in the second quarter, according to CBRE, a real estate services and investment firm.The plans for new openings come even as visits to malls and shopping centers appears to be slowing this summer amid inflationary pressures, though analysts and executives say those who do visit are more likely to buy something.Simon said it reported record sales of $746 per square foot at its malls and the outlets combined, in the second quarter.Visits to indoor U.S. malls in June rose 1.5% compared with the prior year, marking the smallest gain so far this year, according to Placer.ai, a retail analytics firm. Visits to outlet centers dropped 6.7%. The distance that it takes many consumers to drive to outlet centers has resulted in a falloff in visits as gas prices remain inflated, Placer.ai said.",Mall owners say retailers are still opening stores in spite of recession fears.
"Billionaire hedge fund manager Bill Ackman is taking a vocal stance against Visa, saying the credit card giant has the power to pressure Pornhub to remove child pornography from its site.""My interest comes from the fact that I have four daughters,"" Ackman said Tuesday on CNBC's ""Squawk Box."" ""When you think about the worst harm — economic, physical, mental harm you can impact upon a human being — it's having a child trafficked ... video of the rape appear. I find it hard to talk about it.""A federal judge in California on Friday denied Visa's motion to dismiss a lawsuit by a woman who accuses the payment processor of knowingly facilitating the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek.The woman is suing Visa and MindGeek over a sexually explicit video her boyfriend filmed of her when she was 13. U.S. District Judge Cormac Carney in California denied parts of Visa's motion to be dismissed from her claims.""It is simple,"" Carney said in his ruling. ""Visa made the decision to continue to recognize MindGeek as a merchant, despite its alleged knowledge that MindGeek monetized child porn. MindGeek made the decision to continue monetizing child porn, and there are enough facts pled to suggest that the latter decision depended on the former."" The Pershing Square CEO had called on Visa and Mastercard in late 2020 to temporarily withhold payments to Pornhub after a New York Times column by Nicholas Kristof brought the issue to light.""Remarkably, the company, despite being entirely aware that there's child pornography on these sites, they continue to provide payment services, until the Kristoff article, and then they shut down the sites overnight which would have bankrupted them,"" Ackman said Tuesday. ""Within a matter of weeks they re-authorized the merchants and started accepting payments again and the crime continues.""Ackman said he has no economic stake in Visa, Mastercard or any payments company. He said he offered to help finance lawsuits philanthropically against Visa.The hedge fund manager said he believes that this is one of the most egregious corporate governance failures he has witnessed and the company and its board could be faced with huge liabilities.""It's an extreme measure when Visa or Mastercard shuts down a merchant, but a merchant's business is fundamentally illegal,"" Ackman said. ""There's traditional breach of fiduciary duty when a company has a product or service that can cause harm.""A Visa spokesperson told CNBC that the payments giant condemns sex trafficking, sexual exploitation, and child sexual abuse materials.""This pre-trial ruling is disappointing and mischaracterizes Visa's role and its policies and practices. Visa will not tolerate the use of our network for illegal activity,"" the spokesperson said. ""We continue to believe that Visa is an improper defendant in this case.""","Bill Ackman blasts Visa, saying it has the power to pressure Pornhub to remove child pornography."
"Attendee inspect Smith and Wesson firearms at the National Rifle Association's (NRA) annual meeting, in Indianapolis, Indiana, U.S., April 28, 2019. REUTERS/Bryan WoolstonRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The U.S. House Oversight Committee has subpoenaed Smith & Wesson Brands Inc (SWBI.O) for information on its AR-15 style firearms sales and marketing after the gunmaker's chief executive refused to appear before lawmakers last month, it said in a statement.The panel, led by Democratic U.S. Representative Carolyn Maloney, cited incomplete data and gaps in the company's metrics in seeking documents from the firearms manufacturer, citing a copy of the letter notifying CEO Mark Smith of the congressional summons.""This subpoena was made necessary by your unwillingness to voluntarily comply with the Committee’s investigation, including your refusal to testify about your company’s troubling business practices ... and your refusal to voluntarily produce key information about your company’s sale of assault weapons to civilians,"" Maloney wrote in a letter to Smith.Register now for FREE unlimited access to Reuters.comRepresentatives for Smith & Wesson did not immediately respond to a request for comment on the subpoena, first reported by the Washington Post.The panel had summoned Smith along with the CEOs of Sturm, Ruger & Co (RGR.N) and privately held Daniel Defense to appear July 27 following a string of mass shootings as U.S. lawmakers grappled for ways to address America's gun violence.At the hearing, lawmakers pressed the two CEOs who did appear for details on the marketing of assault-style weapons used in recent shootings at a Texas elementary school, a New York grocery store and a Illinois Independence Day parade. read more Maloney on Tuesday said Smith & Wesson's Smith initially agreed to appear voluntarily but then ""abruptly withdrew"" five days before the hearing.The U.S. House of Representatives on Friday passed a bill that would ban assault-style rifles but the legislation is likely to face defeat in the 50-50 divided Senate where it would need 60 votes to move forward. read more Congress, however, in June did approve a bipartisan bill with some more modest safety measures including tougher background checks. U.S. President Joe Biden signed it into law June 25. read more Register now for FREE unlimited access to Reuters.comReporting by Susan Heavey;
Editing by Andrew Cawthorne, Bernadette Baum and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.",U.S. panel subpoenas Smith & Wesson over assault rifle data.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesProfits soar to $8.45 bln, far exceeding forecastsBP boosts dividend by 10%BP to boost spending on oil and gas, CEO saysProfits driven by strong oil trading, hit by LNGLONDON, Aug 2 (Reuters) - BP's (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production.The strong performance caps a blowout quarter for the top Western oil and gas companies on the back of soaring energy prices that have increased pressure on governments to impose new taxes on the sector to help consumers.""The company is running well and it continues to strengthen. We have real strategic momentum,"" Chief Executive Officer Bernard Looney told Reuters.Register now for FREE unlimited access to Reuters.comBP shares were up 4.3% by 1315 GMT, hitting their highest levels since June and strongly outperforming the European energy index (.SXEP) which was up 0.7%. BP shares have gained 23% this year but are still some 10% below pre-pandemic levels.Looney, who took office in 2020 with a vow to rapidly shift BP away from fossil fuels to renewables, said that the company will increase its spending on new oil and gas by $500 million in response to the global supply crunch. read more ""We will direct more investment towards hydrocarbons to help with energy security in the near term,"" Looney said. ""We'll probably direct about a half a billion dollars for hydrocarbons.""BP plans to maintain its overall capital expenditure this year in a range of $14 billion to $15 billion.BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase. It halved its dividend to 5.25 cents in July 2020 for the first time in a decade in the wake of the pandemic.The company also increased its share repurchases plan for the current quarter to $3.5 billion after it bought $4.1 billion in the first half of the year.""The fact it produced its highest quarterly profit in 14 years, even though oil prices were higher during that period than they are now, suggests BP is a more efficient machine than it was previously,"" AJ Bell investment director Russ Mould said.The company said it expected crude oil and gas prices as well as refining margins to remain ""elevated"" in the third quarter and said it would stick to its target of using 60% of its surplus cash on share buybacks.Reuters GraphicsLogo of British Petrol BP is seen e at petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper PempelThe surge in revenue also allowed BP to sharply reduce its debt to $22.8 billion from $27.5 billion at the end of March.BIG OIL BONANZABP brings the second quarter profit tally for the top Western oil and gas companies to $59 billion after rivals including Exxon Mobil (XOM.N) and Shell (SHEL.L) reported record earnings last week. read more Its underlying replacement cost profit, its definition of net earnings, reached $8.45 billion in the second quarter, the highest since 2008 and far exceeding analysts' expectations of $6.8 billion.That was up from $6.25 billion in the first quarter and $2.8 billion a year earlier.The strong performance was driven by strong refining margins, ""exceptional"" oil trading performance as well as higher fuel prices, although gas trading was weaker, BP said.An outage at a major U.S. Gulf Coast liquefied natural gas (LNG) plant, also weighed on profits.The Freeport LNG plant supplies BP with 4 million tonnes per year of LNG, out of a total portfolio of 18 million tonnes.BP is looking at ways to supply customers despite the lost supply though that will come at an elevated cost, Chief Financial Officer Murray Auchincloss told Reuters.Reuters GraphicsThe company has allocated money to cover for the extra costs of LNG supply as a result of the Freeport outage, he said.Jefferies analysts estimated those extra costs this quarter would total $700 million to $900 million.Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso and Shadia Nasralla; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.Shadia NasrallaThomson ReutersWrites about the intersection of corporate oil and climate policy. Has reported on politics, economics, migration, nuclear diplomacy and business from Cairo, Vienna and elsewhere.",BP boosts dividend after profit hits 14-year high.
"Crime August 2, 2022 / 11:36 AM / CBS/AFP Argentine soccer referee Dalma Cortadi appealed Monday for justice to be done after she was punched from behind by a male player who disagreed with her on-field ruling during a regional league match.Cortadi, 30, laid criminal charges against her attacker, 34-year-old Cristian Tirone, who was arrested on the pitch after knocking down the referee after she yellow-carded him for a foul. Cortadi was taken to hospital and spent several hours under observation after the attack, which was caught on video. Lamentable, indignante y repudiable lo ocurrido en un partido de tercera división en La Liga Regional de Tres Arroyos 🇦🇷 entre el Deportivo Independencia vs Garmense , Dalma Cortadi jueza principal recibe un brutal y cobarde golpe por detrás de Cristian Tirone.Via: @CLMerlo pic.twitter.com/MuSH7oP8hd— Showfutboleo (@showfutboleo) July 31, 2022 The footage shows Tirone seemingly aiming his fist at the back of Cortadi's head, missing, and connecting with her neck. She falls to the ground, but gets up immediately as Tirone is pulled away by others on the field. ""I fell and I don't remember anything else. When I got up I was dizzy and nauseous. Nothing like this has ever happened to me,"" she told the Olé sports daily.Cortadi was refereeing a third-tier match of the Tres Arroyos regional league between Independencia and Garmense, which was suspended after the attack. ""This situation harms me at work since it makes me unable to work,"" Cortadi told Olé. ""Now I must be strong. The blows left me sore. ""She told Olé her gender was irrelevant to the matter.""We want justice to be done and that this man pay for what he did. That is what is important,"" she said.The Argentine Football Association issued its own statement following the attack: ""AFA repudiates and condemns the actions of the player Cristian Tirone (Dep. Garmense) against the referee Dalma Cortadi, who was victim of physical violence."" Garmense suspended Tirone for life.""The Club expresses its energetic repudiation of this action that is at odds with the spirit that is intended to instill with the practice of this sport,"" the club said in a statement. In: argentina Soccer Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Argentine soccer referee seeking ""justice"" after she was punched by player during match."
"An Air Canada plane taxis at Pearson International Airport in Toronto, Ontario, Canada May 16, 2022. REUTERS/Carlos Osorio/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Air Canada (AC.TO) on Tuesday missed on earnings as costs rise after posting a smaller quarterly loss and forecasting higher full-year expenses, sending shares down 1% in morning trade.North American carriers are flying more passengers after a pandemic-induced slump, but face rising labor costs and high jet fuel prices, along with staffing shortages and congestion at some airports.Canada's largest carrier has wrestled with complaints over long lines and lost luggage at some hubs, but executives see improvements in baggage handling and demand for international travel as bright spots. read more Register now for FREE unlimited access to Reuters.comAir Canada doesn't see any impact from forecasts of a possible economic turndown. Bookings going into the fourth quarter remain strong, with load factors projected to be in line with 2019 levels.""We're not seeing any evidence of a slowdown,"" Chief Executive Mike Rousseau told a call with analysts.Air Canada expects 2022 adjusted cost per available seat mile to be up about 15% to 17%, above 2019 levels, compared with a previous forecast of 13% to 15% higher.U.S. carriers are also struggling to offset higher costs by raising fares. read more Air Canada Chief Commercial Officer Lucie Guillemette said the carrier sees strength in sixth freedom flying, where it indirectly flies U.S. passengers to international cities such as London following a stop at one of its Canadian hubs.Guillemette said June represented ""a record month for absolute sixth freedom customers in AC's history.""The carrier's sixth freedom traffic on Atlantic routes accounted for 6% of total revenues during the second quarter of 2022, compared with 5% during the quarter in 2019.Air Canada reported a second-quarter operating loss of C$253 million ($196.87 million), compared with a loss of C$1.13 billion a year earlier. It reported a loss of C$1.60 per diluted share.Analysts on average were expecting a loss of C$0.91 per share according to estimates by Refinitiv.Operating revenue in the three-months ending June 30 was C$3.98 billion, compared with C$837 million in the same quarter last year.($1 = 1.2851 Canadian dollars)Register now for FREE unlimited access to Reuters.comReporting by Kannaki Deka in Bengaluru and Allison Lampert in Montreal; Editing by Vinay Dwivedi, Mike Harrison and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.","Air Canada raises annual cost forecast, misses earnings."
"An Uber banner on the New York Stock Exchange on the day of Uber's IPO, May 10, 2019.Source: NYSECheck out the companies making headlines in midday trading Tuesday.Uber Technologies — Uber shares popped 17.6% after the ride-hailing giant reported a quarterly revenue that beat analyst expectations. The company's revenue came in at $8.07 billion, topping a Refinitiv consensus forecast of $7.39 billion. Still, Uber also reported a big loss per share.Pinterest — Shares of the image-sharing company surged 12% on the back of better-than-expected user numbers. Activist investor Elliott Management also confirmed separately that it's Pinterest's top investor and said it has ""conviction in the value-creation opportunity"" at the company. All that said, Pinterest's earnings and revenue missed estimates for the second quarter, and the company gave weak guidance for the third quarter.Marathon Petroleum — Shares advanced 4% after the refining company reported second-quarter earnings that exceeded profit and revenue estimates, boosted by the surge in oil prices.Gartner — Shares of the research and consulting company gained 6.9% after Gartner topped earnings and revenue estimates for the previous quarter. Wells Fargo also initiated coverage of Gartner with an overweight rating.Caterpillar — Caterpillar shares slipped 3.5% after the company missed revenue expectations in the second quarter. The industrial giant said its top line was hurt by its exit from Russia and supply chain issues. Cowen - The brokerage's stock jumped 8% after TD Bank announced a deal to buy Cowen for $39 per share, or roughly $1.3 billion. TD said the all-cash deal should close in the first quarter of 2023. The U.S.-traded shares of TD dipped by less than 1%.Molson Coors — Shares of the beverage company slid nearly 10% after Molson Coors released its latest quarterly results. The company's earnings were in line with analyst expectations, according to Refinitiv, while earnings were roughly in line with estimates. Molson Coors said that many beer-drinking customers are trading down to cheaper options.Avis Budget — The vehicle rental company's stock slipped 6.1% despite a better-than-anticipated quarter. Avis Budget reported earnings of $15.94 per share excluding items on revenues of $3.24 billion. Analysts polled by Refinitiv expected a profit of $3.17 billion. ZoomInfo Technologies — ZoomInfo jumped 10.8% after reporting better-than-expected quarterly results. The company also raised its guidance for the full year.— CNBC's Jesse Pound, Sarah Min and Yun Li contributed reporting","Stocks making the biggest moves midday: Uber, Pinterest, Caterpillar and more."
"Prices of fruit and vegetables are on display in a store in Brooklyn, New York City, U.S., March 29, 2022. REUTERS/Andrew Kelly/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. household debt increased to a record $16.15 trillion in the second quarter, driven mostly by a $207 billion jump in mortgage balances, with credit card and auto loan debt also rising as consumers lifted their borrowing to deal with soaring inflation, a Federal Reserve report showed on Tuesday.Overall delinquency rates rose modestly too for all debt types, with delinquencies for credit cards and auto loans ""creeping up,"" particularly in lower-income areas, the New York Fed's quarterly household debt report said.Mortgage debt increased to $11.39 trillion at the end of June, according to the report. Purchase mortgage originations were up 7% in the second quarter, with much of the increase attributed to higher borrowing amounts.Register now for FREE unlimited access to Reuters.comThe U.S. central bank began raising interest rates in March as it exited the easy money policies it had kept in place during the worst of the COVID-19 pandemic to shield an economy pummeled by lockdowns and other protective measures.Since then, stubbornly high inflation running at four-decade highs has compelled policymakers to raise the Fed's benchmark overnight lending rate by 225 basis points. That rate is currently in a target range between 2.25% and 2.50%. Further interest rate increases are forecast for the rest of this year as the central bank attempts to quash inflation that is sapping the pocketbooks of Americans.There has been a steep rise in prices for big-ticket items such as homes and autos over the past two and a half years as demand outstripped supply. As a result, the average dollar amount for new purchase originations for both those items has risen 36% since 2019.More recently, Russia's Feb. 24 invasion of Ukraine caused a spike in food and energy costs around the world.Total U.S. household debt balances are now more than $2 trillion higher than they were in the fourth quarter of 2019, just before the pandemic began, the New York Fed said.Credit card balances increased by $46 billion in the second quarter, among the largest seen by the Fed since 1999, while auto loan originations rose by $33 billion to $199 billion. This primarily reflected higher origination amounts per loan than a greater volume of loans, the report said.""All debt types saw sizable increases, with the exception of student loans,"" the regional Fed bank's researchers said. ""In part, the growth in each debt type reflects increased borrowing due to higher prices.""The average contract rate on a 30-year fixed-rate mortgage has shot up by more than 240 basis points since the turn of the year to levels not seen since 2008, according to the Mortgage Bankers Association. It now stands at 5.74%.New York Fed researchers said on a call that delinquency rates were increasing to more typical pre-pandemic levels seen in 2019 that are still historically low. ""But we have to keep an eye on that because if they rise above that we'll be a little more concerned about the state of household balance sheets. The concern is where we are heading.""Register now for FREE unlimited access to Reuters.comReporting by Lindsay Dunsmuir; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.",U.S. household debt tops $16 trillion amid rising inflation.
"U.S. House Speaker Nancy Pelosi (D-CA) holds a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The United States must remember its vow ""to support the defense of Taiwan"" as its democracy remains ""under threat"" from China, U.S. House Speaker Nancy Pelosi said in a Washington Post opinion piece published on Tuesday, moments after she arrived in Taiwan on a visit that risks bringing relations between Washington and Beijing to a new low.Register now for FREE unlimited access to Reuters.comReporting by Chris Gallagher and Katharine Jackson; Editing by Caitlin WebberOur Standards: The Thomson Reuters Trust Principles.","U.S. must remember vow to support Taiwan, Pelosi says in Washington Post."
"A hooded man holds a laptop computer as cyber code is projected on him in this illustration picture taken on May 13, 2017. REUTERS/Kacper Pempel/IllustrationRegister now for FREE unlimited access to Reuters.comTAIPEI/WASHINGTON, Aug 2 (Reuters) - Digital attacks against Taiwanese government websites ahead of U.S. House of Representatives Speaker Nancy Pelosi's arrival in Tapei on Tuesday were likely launched by Chinese activist hackers rather than the Chinese government, a cybersecurity research organisation said.The website of Taiwan's presidential office was targeted by a distributed denial of service (DDoS) attack on Tuesday and was at one point malfunctioning, the office said in a statement. read more Access to the website was restored within about 20 minutes of the attack, the statement said. Taiwanese government agencies were monitoring the situation in the face of ""information warfare,"" a spokesperson later added.Register now for FREE unlimited access to Reuters.comA government portal website and Taiwan's foreign ministry website were also temporarily taken offline on Tuesday.In a statement, the foreign ministry said both websites had been hit with up to 8.5 million traffic requests a minute from a ""large number of IPs from China, Russia and other places"".The attacks were ongoing, the statement added.DDoS attacks work by directing high volumes of internet traffic towards targeted servers in a relatively unsophisticated bid by so-called ""hacktivists"" to knock them offline.""These are uncoordinated, random, moral-less attacks against websites that Chinese hacktivists use to get their message across,"" said Johannes Ullrich, Dean of Research at the SANS Technology Institute, a cybersecurity education and research organisation.""Usually it continues for a few days, but they often lose interest within a week. Many of the attacks are motivated by what is written in the Chinese press,"" Ullrich added.The disruptive digital blitz came from hundreds of thousands of IP addresses, tied to devices registered within Chinese commercial internet space, Ullrich said.A similar cohort of Chinese IP addresses had been scanning the internet for low level, easily exploitable vulnerabilities since Friday, he added, and did not match the usual activity carried out by Chinese government hackers.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee in Taipei and Christopher Bing in Washington
Writing by James Pearson; Editing by David Gregorio and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.Christopher BingThomson ReutersAward-winning reporter covering the intersection between technology and national security with a focus on how the evolving cybersecurity landscape affects government and business.",Attacks on Taiwan websites likely work of Chinese 'hacktivists' - researchers.
"CBS Mornings August 2, 2022 / 12:02 PM / CBS News Jake Sullivan on drone strike Jake Sullivan on what Ayman al-Zawahir’s death means 02:23 Al Qaeda leader Ayman al-Zawahiri was living in downtown Kabul with members of his immediate family when he was tracked down and killed by a U.S. drone strike in a counterterrorism operation over the weekend.According to President Biden's national security adviser Jake Sullivan, the White House is communicating with the Taliban about their knowledge of al-Zawahiri's location and looking into whether they were sheltering him in Afghanistan.""We do believe that senior members of the Haqqani network, which is associated with the Taliban, knew that Zawahiri was in Kabul,"" Sullivan told ""CBS Mornings."" ""There may have been other members who didn't. And we are communicating directly with the Taliban about their obligations not to allow al Qaeda to use Afghanistan as a base for plotting.""  He added, ""We're not obviously just going to take their word for it. We proved that this weekend by taking out Ayman al-Zawahiri and we're prepared to take further action.""The strike came nearly one year after U.S. troops withdrew from Afghanistan, which Sullivan said shows that the U.S. can continue to ensure that Afghanistan is not used to harbor terrorist organizations without having American forces on the ground. ""If there is someone plotting in Afghanistan against the United States, or if there is an Al Qaeda leader trying to inspire attacks against America and Americans as Zawahiri was doing, we will find them, and we will take them out, and we just did that,"" Sullivan said.For years, al-Zawahiri had been near the top of the FBI's list of most wanted terrorists. He is considered to be one of the masterminds behind the September 11 attacks.Former acting CIA director and CBS News contributor Michael Morell told ""CBS Mornings"" that he remembered how former President George W. Bush kept a chart of all operatives responsible for 9/11, and each individual would be crossed off the list as they were captured or killed. ""This weekend was the last person on the list, that was al-Zawahiri, and he was crossed,"" Morell said.  Morell said al-Zawahiri's death brings some sort of closure to the families of 9/11 victims and sends a message to other al Qaeda members. ""Al Qaeda has wanted to use Afghanistan, to use Taliban control of Afghanistan to rebuild their capabilities. They're fairly weak there now, but they want to rebuild their capabilities, and what this does, more than anything else, it says to them, 'we have to worry first and foremost about our security even in Taliban-controlled Afghanistan because the U.S. can reach us there',"" said Morell. ""That will make it more difficult for them to rebound. So that is a good thing, that is the main benefit of this strike over the weekend.""  In: Al Qaeda Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Ayman al-Zawahiri's death raises questions on whether he was being sheltered by Taliban, national security adviser suggests."
"Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, Russia July 7, 2022. Aleksey Nikolskyi | Sputnik | ReutersRussia is facing ""economic oblivion"" in the long term because of international sanctions and the flight of businesses, several economists have said.The International Monetary Fund last week upgraded Russia's gross domestic product estimate for 2022 by 2.5 percentage points, meaning the economy is now projected to contract by 6% this year. The IMF said the economy seemed to be weathering the barrage of economic sanctions better than expected.The Central Bank of Russia surprised markets in late July by cutting its key interest rate back to 8%, below its prewar level, citing cooling inflation, a strong currency and the risk of recession.The ruble recovered from historic early losses in the aftermath of the invasion of Ukraine to become a top performer on the global foreign exchange market this year, prompting Russian President Vladimir Putin to declare that Western sanctions had failed.Meanwhile, Russia has continued to export energy and other commodities while leveraging Europe's dependency on its gas supplies.However, many economists see long-lasting costs to the Russian economy from the exit of foreign firms – which will hit production capacity and capital and result in a ""brain drain"" – along with the loss of its long-term oil and gas markets and diminished access to critical imports of technology and inputs.Ian Bremmer, president of Eurasia Group, told CNBC on Monday that while short-term disruptions from sanctions are less than originally anticipated, the real debate goes beyond 2022.""Anecdotal evidence suggests the manufacturing dislocations are rising as inventories are depleted and scarcity of foreign parts becomes binding. Chips and transport are among the sectors cited, in some cases reflecting dual-use military demand,"" Bremmer said.""Governmental arrears may be contributing to broader shortages. Imports of consumer goods are increasing, but less so intermediate/investment goods.""Bremmer highlighted that as sanctions intensify and popular discontent grows, the educated are leaving Russia, underscoring the importance of trade sanctions on sensitive technologies and the ""longer timeline by which sanctions undermine trend productivity and growth.""""Brain drain leads to a direct decline in the working age population, especially high-productivity workers, reducing GDP,"" he said.""It affects overall productivity, reducing innovation and affects overall confidence in the economy, reducing investment and savings.""Eurasia Group projects a sustained, long-term decline in economic activity to eventually result in a 30%-50% contraction in Russian GDP from its prewar level.'Catastrophically crippling'A Yale University study published last month, which analyzed high-frequency consumer, trade and shipping data that its authors say shows a truer picture than the Kremlin is presenting, argued that rumors of Russia's economic survival had been greatly exaggerated.The paper suggested international sanctions and an exodus of more than 1,000 global companies are ""catastrophically crippling"" the Russian economy.""Russia's strategic positioning as a commodities exporter has irrevocably deteriorated, as it now deals from a position of weakness with the loss of its erstwhile main markets, and faces steep challenges executing a 'pivot to Asia' with non-fungible exports such as piped gas,"" the Yale economists said.They added that despite some ""lingering leakiness,"" Russian imports have ""largely collapsed,"" with Moscow now facing challenges in securing inputs, parts and technology from increasingly jittery trade partners and as a result, seeing widespread supply shortages in its domestic economy.""Despite Putin's delusions of self-sufficiency and import substitution, Russian domestic production has come to a complete standstill with no capacity to replace lost businesses, products and talent; the hollowing out of Russia's domestic innovation and production base has led to soaring prices and consumer angst,"" the report said.""As a result of the business retreat, Russia has lost companies representing ~40% of its GDP, reversing nearly all of three decades worth of foreign investment and buttressing unprecedented simultaneous capital and population flight in a mass exodus of Russia's economic base.""No path out of 'economic oblivion'The apparent resilience of the Russian economy and the resurgence of the ruble were largely attributed to soaring energy prices and strict capital control measures – implemented by the Kremlin to limit the amount of foreign currency leaving the country – along with sanctions restricting its capacity to import.Russia is the world's largest exporter of gas and second-largest exporter of oil, and thus the hit to GDP from the war and associated sanctions has been softened by high commodity prices and Europe's continued dependence on Russian energy for the time being.Russia has now relaxed some of its capital controls and cut interest rates in a bid to bring the currency down and shore up its fiscal account.""Putin is resorting to patently unsustainable, dramatic fiscal and monetary intervention to smooth over these structural economic weaknesses, which has already sent his government budget into deficit for the first time in years and drained his foreign reserves even with high energy prices – and Kremlin finances are in much, much more dire straits than conventionally understood,"" the Yale economists said.They also noted that Russia's domestic financial markets were the worst performers in the world so far this year despite the strict capital controls, with investors pricing in ""sustained, persistent weakness within the economy with liquidity and credit contracting,"" along with Russia's effective ostracization from international financial markets.""Looking ahead, there is no path out of economic oblivion for Russia as long as the allied countries remain unified in maintaining and increasing sanctions pressure against Russia,"" the report concluded.""Defeatist headlines arguing that Russia's economy has bounced back are simply not factual – the facts are that, by any metric and on any level, the Russian economy is reeling, and now is not the time to step on the brakes.""The Russian Embassy in London was not immediately available to comment on the Yale University study's findings when contacted by CNBC.","Russia faces 'economic oblivion' despite claims of short-term resilience, economists say."
"Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. REUTERS/Mike Blake/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Caterpillar Inc (CAT.N) on Tuesday warned of a bigger drop in demand for its excavators in property crisis-hit China, piling on more pain on the industrial bellwether grappling with supply-chain disruptions.Shares of the Dow component fell as much as 5.5% as the heavy equipment maker missed quarterly sales expectations and its margins shrank amid rising costs.China's highly leveraged property market, a key pillar of the world's second-largest economy, has weakened sharply as homebuyers threaten to stop paying mortgages on hundreds of unfinished housing projects.Register now for FREE unlimited access to Reuters.comCaterpillar on Tuesday predicted that demand for above-10 tonne excavators would drop further in China, which typically accounts for 5% to 10% of its overall revenue. It had said in April the equipment's sales could slip below pre-pandemic levels in 2022. read more Weakness in China, also due to coronavirus-related curbs, dragged Asia/Pacific construction equipment sales by 17%, while overall equipment sales in Europe, Africa and Middle East dropped 3%.Meanwhile, quarterly operating margin shrunk to 13.6% from 13.9% last year as lower volumes and high costs nibbled into profit.""We continue to incur additional costs due to factory inefficiencies and freight expenses,"" CEO Jim Umpleby said, adding that tackling supply-chain hurdles is a ""hand-to-hand combat"".Caterpillar, which raised prices last year, said it expects higher equipment prices to ""more than offset"" an increase in manufacturing cost this year.""(Caterpillar) expects adjusted operating profit margin to improve in the back half. So that implies that pricing eventually catches up with cost inflation,"" Edward Jones senior analyst Matt Arnold said.The company's total revenue rose about 11% to $14.25 billion, but missed the analysts' average estimate of $14.35 billion.Adjusted profit rose to $3.18 per share, above expectations of $3.01, according to Refinitiv dataRegister now for FREE unlimited access to Reuters.comReporting by Abhijith Ganapavaram in Bengaluru and Bianca Flowers in Chicago; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.",Caterpillar gets wrapped in slowing China demand and supply-chain woes.
"dusanpetkovic | iStock | Getty ImagesMedicare beneficiaries may see their premiums for prescription drug coverage dip in 2023, although their deductibles might rise.The average basic monthly premium for Medicare Part D is projected to be about $31.50 next year, down 58 cents, from $32.08 in 2022, according to the Centers for Medicare & Medicaid Services.Meanwhile, the maximum deductible next year for drug coverage is projected to rise to $505, up from $480 this year, according to information released by the agency several months ago. Not all plans come with a deductible, or they may have one that is much smaller than the maximum allowed.More from Personal Finance:More Americans living paycheck to paycheck due to inflationConsidering a job change? How to make your resume stand out1 in 5 Americans are dodging their credit card statementsRoughly 49 million Medicare beneficiaries have prescription drug coverage. Some get it as a stand-alone Part D plan alongside original Medicare (Part A hospital insurance and Part B outpatient care coverage).Other individuals enroll in Advantage Plans that come with drug benefits. And it's common to find such plans that come with either a small monthly payment or a low one (excluding your Part B premium).""We should continue to see lots of zero- or low-premium Advantage Plans with enticing benefits next year,"" said Danielle Roberts, co-founder of insurance firm Boomer Benefits.Be aware that deductibles and premiums can both vary widely from plan to plan, as can the specifics of what prescription drugs are covered and how much you'll pay for them. (Congressional Democrats are aiming to pass a bill that would allow Medicare to negotiate the price of some drugs, as well as cap your out-of-pocket cost for prescriptions at $2,000 per year.)In addition, some Medicare beneficiaries pay more for Part D premiums because their income is high enough to generate so-called income-related monthly adjustment amounts, or IRMAAs. Those extra amounts also apply to Part B premiums.In 2022, those monthly surcharges kick in for single tax filers at $91,000 and for married couples filing joint tax returns at $182,000. There are some strategies you can use to try avoiding IRMAAs or reducing them.Medicare's open enrollment period — when you can sign up for an Advantage Plan and/or drug coverage for 2023 — opens Oct. 15 and runs through Dec. 7.","Average premiums for Medicare prescription drug coverage are set to dip to about $31.50 a month in 2023, deductibles to rise."
"Spanish Defence Minister Margarita Robles attends a roundtable discussion of Women Foreign and Defence Ministers from Allied countries, during a NATO summit in Madrid, Spain June 29, 2022. REUTERS/Yves HermanRegister now for FREE unlimited access to Reuters.comMADRID, Aug 2 (Reuters) - Spain cannot send its mothballed Leopard 2A4 tanks to Ukraine as they are ""in an absolutely deplorable state"" and could be a danger to the people firing them, Spanish Defence Minister Margarita Robles said on Tuesday.In June, Robles said the possibility ""was on the table"" after El Pais newspaper reported that Spain was considering sending around 40 German-made Leopards kept at a military base in Zaragoza to Ukraine.""We are today looking at all the possibilities, but I can already say that the Leopards in Zaragoza that have not been used for many years cannot be sent because they are in an absolutely deplorable state,"" Robles told reporters on Tuesday during at an air base in Torrejon de Ardoz, Madrid.""We can't give them away because they would be a risk to the people"" using them, she said.According to El Pais, Prime Minister Pedro Sanchez had made the tank offer to Ukrainian President Volodomyr Zelenskiy during a visit to Kyiv, but the plans had been put on hold due to the complexity of the operation, which also required approval from the German parliament.Register now for FREE unlimited access to Reuters.comReporting by Emma Pinedo, editing by Andrei Khalip; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.",Spain says its mothballed German-made tanks in no fit state to send to Ukraine.
"President Joe Biden experienced a ""rebound"" Covid infection after taking the antiviral drug Paxlovid — and he's not the only one.Some patients who took Pfizer's Paxlovid after contracting the coronavirus have reported the same phenomenon: Days after they finished a five-day course of the oral drug and felt better, their Covid symptoms or a positive test result returned.Health experts say Paxlovid's rebound effect doesn't impact every patient or make it any less effective at its job, which is fighting severe illness from Covid. Still, like with so much about the pandemic, you might have some questions: How severe are rebound cases? Why do they happen? How common are they, and should you still feel comfortable taking the drug?The answer to that last question is a resounding ""yes,"" doctors say. Here's why, and what else you need to know about Paxlovid rebound cases:Who can take Paxlovid?In December 2021, the U.S. Food and Drug Administration made Paxlovid available under an emergency use authorization to treat mild-to-moderate Covid cases in a specific group of eligible patients. You can get Paxlovid if you check all three of these boxes:You tested positive for CovidYou're at least 18 years old, or at least 12 years old and weigh at least 88 poundsYou have one or more risk factors for severe CovidThat includes patients 65 and older — such as Biden, 79 — or those with underlying conditions like cancer, diabetes or obesity. You may not be able to take Paxlovid if you take certain medications that can interact with the drug and cause serious side effects, according to the FDA.You can obtain Paxlovid prescriptions from your healthcare provider or through the Biden administration's ""Test to Treat"" program, which gives free Covid antiviral pills to patients who test positive at pharmacies across the country.If you're eligible, you should start taking Paxlovid as soon as possible after testing positive for Covid, and within five days of experiencing Covid symptoms. You'll need to take three pills, twice a day, for five days.Pfizer's clinical trials last November suggest that Paxlovid does its job: The drug was 89% effective at preventing hospitalization among people who were at risk of developing severe illness.Notably, that trial was conducted before Covid's omicron variant emerged — but Pfizer said in January that Paxlovid still works against omicron, citing three laboratory-based studies. It appears to also work against omicron subvariants like BA.5, with no current data showing otherwise, according to Barbara Santevecchi, a clinical assistant professor of infectious diseases at the University of Florida's College of Pharmacy.How common are rebound cases, and what are they like?Some people who take Paxlovid test negative for Covid after finishing their five-day treatment, but then test positive or experience symptoms again two to eight days later, according to the Centers for Disease Control and Prevention.Roughly 5% of the tens of thousands of Paxlovid users have experienced rebound cases so far, White House Covid response coordinator Dr. Ashish Jha said at a news conference last month. They appear to be very mild: A June CDC study found that less than 1% of patients taking Paxlovid were admitted to the hospital or emergency department for Covid in the five to 15 days after they finished the treatment.Patients also appear to recover from rebound cases without any additional Covid treatment, the CDC says.A UC San Diego School of Medicine study released in June identified ""insufficient drug exposure"" as the most likely cause. In that scenario, Paxlovid stops the virus in its tracks for five days, but doesn't stick around long enough to purge the infection entirely — allowing the virus to temporarily replicate again once the drug is gone.Dr. Davey Smith, the study's senior author and an infectious disease specialist at UCSD Health, hypothesizes that some people may metabolize Paxlovid more quickly, or that the drug might need to be taken for more than five days to fully clear the virus in every patient. But there's no clinical data to back that up yet, he says.""We don't know if it's safe or efficacious to do double the amount of time of Paxlovid, doing two courses,"" Smith tells CNBC Make It. ""That's getting too far out over your skis without the clinical research to guide it.""If you experience a rebound case, you do need to reenter quarantine until you test negative again. The CDC advises isolating for at least five more days before checking the agency's current isolation guidelines. You should also wear a mask for 10 days after rebound symptoms begin, the CDC advises.Should I still take Paxlovid if I'm eligible?","Biden's Covid relapse sparks talk of 'Paxlovid rebounds'—what to know about the pill, and if it could happen to you."
"During the past two years, companies nationwide have pledged to improve and embrace diversity, equity and inclusion in their workplaces. However, many organizations have missed the mark, leaving employees of color feeling unsupported and even considering reentering the job market.Diversity in managerial and executive positions remains an issue for professionals of color. According to Zippia, 70.8% of managers in the U.S. are white, while 14.4% are Latinx, 6.2% are Asian, and 6% are Black. At the executive level, Investopedia reports that the Fortune 500 has only six Black, 40 Asian American, and 20 Latinx CEOs.This concentration of power in C-suites can lead to unconscious bias, which is a large contributor to the lack of diversity and the negative workplace experience of people of color.""In the same way we advise companies to use diverse hiring committees to reduce the impact bias has on hiring, they should consider what other important people management decisions are being made with the input of too few voices,"" says Ekow Sanni-Thomas, DEI strategist and founder of Inside Voices.Coupled with diversity at the executive level, addressing the ""frozen middle'' and creating actionable initiatives can help companies better ensure that their DE&I strategies resonate with their employees.Defrosting the frozen middleIt can be hard for non-POC to understand the experiences and needs of their diverse counterparts. In the workplace, this can lead to trouble executing DE&I plans, resulting in what professionals are calling the ""frozen middle.""According to Eric Ciechanowski, a resume expert and content strategist at Job Hero, a resume builder website, mid-level professionals are usually responsible for implementing DE&I plans from executives, but not for creating those plans. The frozen middle can occur when middle managers can't move up within their companies because they don't understand or misinterpret directions, resulting in less effective execution.""Many companies see this as a problem with their middle managers, but it is often due to poor communication and exclusion from the executives in a company,"" Ciechanowski says on Job Hero's website.To combat this lack of progress, executives should ensure that mid-level employees have the skills and tools necessary to execute their plans. Leadership must also do their part in diversifying talent and practicing good communication before, during and after the project's completion, eliminating gray areas.The power of diversityNot only does diversity improve overall workplace morale and company culture, but having diverse professionals in management and executive positions has been a key driver to many companies' success, including the Carlyle Group, a global private equity firm.In 2018, Carlyle expanded their DEI Council globally, including their CEO, Kewsong Lee, and 17 other diverse senior leaders working to foster inclusivity at the firm. Carlyle's managing director and chief DEI officer Kara Helander had a goal of promoting and reskilling diverse talent in their company and, in 2020, launched the Career Strategies Initiative (CSI), with input from the DEI Council. This program allows talent to receive virtual leadership training, a manager and sponsor to help track career progress, and an action plan to ensure goals are met.According to Carlyle, 39% of CSI participants were promoted compared to a 15% promotion rate firmwide. Additionally, Carlyle says that turnover rates for CSI participants are less than half of the turnover rates firmwide, showing the impact the program has had on the growth of diverse professionals.""It allowed me to get some really candid perspectives on my performance and opportunities for development and trajectory,"" says Chioma Achebe, a program participant who was promoted from vice president to principal at the firm after participating in the program. Chioma Achebe, Principal, Global Investment Resources, and Anna Tye, Managing DirectorCarlyleAnna Tye, Chioma's sponsor and managing director at Carlyle, noted that the program has not only helped herself and Achebe, but has helped the company.""Being able to help support an incredibly talented, diverse leader and helping her navigate the firm has been incredibly rewarding,"" she says. ""Because of this relationship, I'm able to loop her into some of the work that we're doing, which I think is going to be a great experience for her, but also allows our tech team to benefit greatly from her talent and insight.""Carlyle also reports that since Lee became CEO in 2020, 40% of their leadership committee are women, ethnic minorities, or LGBTQ+, and 85% of employees feel like the company values diversity, showing the positive impact representation can have if companies take the time to prioritize it.Check Out:How this founder and CEO found success through embracing imperfection: 'It's about releasing unrealistic expectations'For the first time, 30% of all S&P 500 board directors are womenWhy mentorship and access to capital are 'critical' keys to closing the VC gap for entrepreneurs of color",Companies’ DEI plans often stall at ‘frozen’ middle management—here's how to fix it.
"Owner Stephen Ross of the Miami Dolphins looks on prior to the game against the Buffalo Bills at Hard Rock Stadium on September 19, 2021 in Miami Gardens, Florida.Michael Reaves | Getty ImagesMiami Dolphins owner and real estate developer Stephen Ross has been fined $1.5 million and suspended from participating in team events and operations through Oct. 17 for violating NFL tampering policies, the league said Tuesday.The penalties mark the conclusion of the NFL's investigation into reports that the Dolphins tampered with coaches and players from other teams and that it intentionally lost games to improve its draft prospects. The team did not intentionally lose games, according to the investigation, but did hold conversations between 2019 and 2022 with then-Patriots quarterback Tom Brady and the agent of then-Saints coach Sean Payton that went against the league's policies. ""The investigators found tampering violations of unprecedented scope and severity,"" NFL Commissioner Roger Goodell said in a statement. ""I know of no prior instance of a team violating the prohibition on tampering with both a head coach and star player, to the potential detriment of multiple other clubs, over a period of several years.""Bruce Beal, the team's vice chairman, was fined $500,000 and is not allowed to attend league meetings for the remainder of the 2022 season.This story is developing. Please check back for updates.","Dolphins owner Stephen Ross suspended, fined $1.5 million after NFL finds tampering violations."
"U.S. August 2, 2022 / 12:15 PM / CBS/AP The National Transportation Safety Board said Tuesday that it has launched an investigation after the co-pilot of a small cargo plane died Friday after falling from the aircraft in North Carolina before it made an emergency landing.CBS affiliate WNCN-TV reported that the body of the co-pilot, 23-year-old Charles Hew Crooks, was found in a backyard in the town of Fuquay-Varina, about 30 miles south of the Raleigh-Durham International Airport. He did not have a parachute. Questions linger on whether pilot fell or jumped from plane before emergency landing at RDU https://t.co/QPAY7g2phv pic.twitter.com/cbPBJXTQyv— CBS 17 (@WNCN) August 1, 2022 The pilot made an emergency landing at the airport Friday afternoon after reporting that one of the wheels had come off the landing gear of the CASA 212-200 airplane. He was treated and released from a hospital with minor injuries. The pilot was the only person on board the turboprop aircraft when it landed.Calls made to air traffic control reveal some clues about the moments leading up to that emergency landing, WNCN reported. ""Emergency, we've lost our right wheel, we'd like to proceed to Raleigh and made a landing at Raleigh,"" one pilot can be heard saying to air traffic controllers. It's unclear whether it's Crooks speaking or the other pilot on board, who has not yet been publicly identified. From there, the person explains what happened.""We were attempting to land, we made contact with the ground, had a hard landing, and decided to go around, and at that point we lost the wheel,"" the man can be heard saying.At no point in that recording does the pilot say a person jumped or fell from the plane. But on another recording, you can hear emergency crews say a person, later identified as Crooks, exited the plane at some point.Crooks' father, Hew Crooks, told WRAL-TV that his son had been working as a flight instructor for over a year. ""He said a couple weeks ago, he wouldn't trade places with anybody in the world. He loved where he was,"" he told the station, adding: ""I can't imagine what happened.""Local and state authorities are also investigating. In: NTSB North Carolina Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",NTSB investigating after mysterious death of co-pilot who exited plane in mid-air in North Carolina.
"US Speaker of the House Nancy Pelosi, alongside members of Congress, holds the CHIPS and Science Act, providing domestic semiconductor manufacturers with $52 billion in subsidies to cut reliance on foreign sourcing, after signing it during an enrollment ceremony on the West Front of the US Capitol in Washington, DC, July 29, 2022.Saul Loeb | AFP | Getty ImagesThe global semiconductor shortage that has left consumers waiting on coffee makers, computers, cars and medical devices — anything with a computer chip — might have an end in sight.After three years of stops and starts, the U.S. House of Representatives passed a $52 billion package last week designed to boost semiconductor manufacturing in the U.S. and improve competitiveness with China. The bill passed the Senate with broad bipartisan support, and will now go to President Joe Biden to be signed into law.The bill, known as the CHIPS-plus or Chips and Science Act, addresses concerns expressed by both parties that the U.S. needs to bring the production of these vitally important components back home and rely less on Asia-based manufacturers. Supporters, including companies such as Intel and Global Foundries, argued that the bill was necessary since other countries subsidize their semiconductor industry, making it hard for U.S. companies to compete without help.Last month, Commerce Secretary Gina Raimondo, speaking with CNBC's Jim Cramer, emphasized just how critical it is for the U.S. to begin making more chips at home and why passage of the CHIPS Act was central to that happening.""Mark my words, if Labor Day comes and goes and this isn't passed by Congress, companies will not wait, and they will expand into other countries,"" she said. ""The U.S. will lose out.""The bill, of course, doesn't preclude U.S. chip makers from also producing in Europe and elsewhere, but it does provide financial incentives to make manufacturing facilities in the U.S. more attractive. Intel has already pledged to build a $20 billion chip plant near Columbus, Ohio. The facility is expected to employ 3,000 workers along with 7,000 temporary construction jobs. The package making its way to Biden's desk has a few components, including $39 billion that would give direct financial assistance to companies building chip manufacturing plants at home. A separate $11 billion is earmarked to advance chip manufacturing research and workforce training, and a $2 billion slice is set aside to move lab innovation into military and other applications.Creating the technology of tomorrowMaryam Rofougaran, CEO of 5G startup Movandi, said passage of the bill will provide a reliable, consistent source of chips for companies like hers that are ""pushing the envelope and creating the technology of tomorrow.""""As the CEO of a 5G chipmaker, I know firsthand how critically important it is to have stable, reliable manufacturing partners and a resilient supply chain,"" she says. ""Making chips in the U.S. will help the companies get them consistently and it will create good-paying jobs which is good for the economy.""Yet, not every business leader is as focused on where advanced chips are made as much as they are getting a consistent supply. Mike Jette, vice president of telecom, media and technology for supply chain software and consulting firm GEP, says supply continuity rather than U.S.-based manufacturing, is what he's hearing is most critical for companies.""The folks that are putting these chips into the products they make are more concerned with getting a consistent supply than where they're made,"" he says. ""Yes, chip buyers are desperate for fabs outside of Taiwan, and they'd love for the supply to be coming from the U.S., but everyone knows this is a multi-year journey. Supply consistency is what's most important.""And as big a win as this is for the U.S. semiconductor industry, the impact could take years to be felt.Building a chip plant is a long process, and attracting the talent needed to staff a new facility is not done overnight. Regulations, labor costs, and other roadblocks common in U.S. manufacturing are likely to further slow the process and the timetable for when U.S. companies can obtain these home-grown chips.Geoff Martha, CEO of medical device company Medtronic, told CNBC's Sara Eisen on ""Closing Bell"" that while he is encouraged by the passage of the bill, he thinks ""it will take several years to get this capacity online."" A growing majority of the products that Medtronic makes contain chips.Even so, Martha believes funding for R&D afforded by the bill's passage will help usher in a new era of med-tech. ""Semiconductors are at the center of that,"" he said.",After the CHIPS Act: U.S. still has a long road ahead to rival Asia in semiconductor manufacturing.
"Pedestrians wait at an intersection near a screen showing footage of Chinese People's Liberation Army (PLA) aircraft during an evening news programme, in Beijing, China August 2, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - The Chinese military has been put on high alert and will launch ""targeted military operations"" in response to U.S. House Speaker Pelosi's visit to Taiwan, China's defence ministry said on Tuesday night.Separately, the People's Liberation Army's Eastern Theatre Command said it will conduct joint military operations near Taiwan from Tuesday night.The exercises will include joint air and sea drills in the north, southwest, southeast of Taiwan, long range live firing in the Taiwan Strait, and missiles test-launches in the sea east of Taiwan, the Eastern Theatre Command said.(This story corrects northeast to southeast in third paragraph)Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian; Editing by Frank Jack Daniel;Our Standards: The Thomson Reuters Trust Principles.",China to launch 'targeted military operations' due to Pelosi visit.
"Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever.Shares of Uber were up 17% at about 12:30 p.m. ET.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. But CEO Dara Khosrowshahi said in a prepared statement that Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services.The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. ""Driver engagement reached another post-pandemic high in Q2, and we saw an acceleration in both active and new driver growth in the quarter,"" Khosrowshahi said in prepared remarks. ""Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber. Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia.""Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Khosrowshahi said on a call with investors that new driver sign-ups were up 76% year over year. He said over 70% of drivers said inflation and cost of living played a part in their decision to join Uber.""The most obvious effect of inflation seems to be getting more drivers on the platform,"" Khosrowshahi said on CNBC's ""Squawk on the Street.""Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.","Uber reports another big loss but beats on revenue, shares pop 17%."
"Britain's Queen Elizabeth presents the George Cross to representatives of the National Health Service Caroline Lamb, Chief Executive NHS Scotland, and Eleanor Grant, Palliative Care Nurse, Specialist University Hospital Wishaw, NHS Lanarkshire, during an audience at Windsor Castle, Windsor, Britain July 12, 2022. Aaron Chown/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - A man arrested with a crossbow at Queen Elizabeth's Windsor Castle home on Christmas Day last year has been charged with having a weapon with intent to ""alarm her Majesty"" under Britain's Treason Act, police and prosecutors said on Tuesday.Jaswant Singh Chail, 20, from Southampton in southern England, had been arrested on Dec. 25 while carrying a crossbow in the grounds of the castle to the west of London where the 96-year-old monarch mostly resides, prosecutors said.Following an investigation by counter-terrorism police, he was charged with making threats to kill, possession of an offensive weapon and an offence under section 2 of the Treason Act 1842.Register now for FREE unlimited access to Reuters.comThis section details punishment for ""discharging or aiming fire-arms, or throwing or using any offensive matter or weapon, with intent to injure or alarm her Majesty"".Chail will appear at London's Westminster Magistrates' Court on Aug. 17.""The Crown Prosecution Service reminds all concerned that criminal proceedings against Mr Chail are active and that he has the right to a fair trial,"" Nick Price, Head of the CPS Special Crime and Counter Terrorism Division, said.The queen was at the castle at the time of the incident along with her son and heir Prince Charles, his wife Camilla and other close family.Police said Chail had not broken into any buildings.Security breaches at royal residences are rare. The most serious one in the queen's reign happened in 1982, when an intruder climbed a wall to enter Buckingham Palace, her London home, and made his way to her bedroom.In 2003, Aaron Barschak, who called himself ""the comedy terrorist"", evaded security at Windsor wearing a pink dress and an Osama bin Laden-styled beard to gatecrash the 21st birthday party of Charles's elder son Prince William, the second-in-line for the throne.The last person to be convicted under the more serious medieval 1351 Treason Act was William Joyce, a propagandist for Nazi Germany nicknamed Lord Haw Haw who broadcast to Britain during World War Two and was hanged in 1946.Register now for FREE unlimited access to Reuters.comReporting by Michael Holden; editing by David Milliken and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Man charged under Britain's Treason Act over Christmas Day incident at queen's home.
"U.S. Updated on: August 2, 2022 / 11:18 AM / CBS News Health officials around the world are racing to curb an outbreak of monkeypox cases that has swelled into the thousands, deploying both vaccines and treatments for a disease that can lead to weeks of painful rashes and lesions for those infected.Some cities facing outbreaks have now declared emergencies to battle the virus, as well as the states of New York, Illinois and California. The White House announced on Aug. 2 that it would tap officials from the Centers for Disease Control and Prevention and the Federal Emergency Management Agency to coordinate the ""whole-of-government response"" to the outbreak. While monkeypox infections have been seen before in the U.S. — in two travelers from Nigeria last year and in 47 cases that were linked to imported animals back in 2003 — the current outbreak is by far the largest recorded in American history and is expected to continue to grow.Here's what's known about the monkeypox outbreak and response: How many cases have there been this year in the U.S.?At least 5,811 cases were tallied by the Centers for Disease Control and Prevention across all but two states — Montana and Wyoming — on Aug. 1.New York is the state with the largest total number of reported cases, making up close to a quarter of the nation's overall tally.How does it spread?Officials say the ""vast majority"" of cases in the current outbreak have spread among men who have sex with men so far, generally through skin-to-skin intimate contact or by sharing contaminated towels and bedding. A handful of cases have also been reported in young children and pregnant women, who are believed to be at higher risk of severe outcomes from the disease.  However, the CDC says it has demographic data only a fraction of reported cases. Unlike its counterparts abroad in places like the United Kingdom and Europe, the agency must rely on details collected and reported ""voluntarily"" to the agency by local health departments.How severe is a monkeypox infection?As of Aug. 1, no deaths have been reported in the outbreak so far in the U.S. among the thousands who have been infected by monkeypox. A handful of deaths have been reported abroad, including in Africa, South America, and Europe.Compared to its more lethal cousin smallpox, officials have said that cases often resolve after a few weeks without additional treatment. The variant linked to the current outbreak has been spreading in Nigeria since 2017, where around 3% of the people who contracted monkeypox died.  After an incubation period, which the CDC estimates is a little longer than a week on average, between exposure to an infected person and the first noticeable signs of the infection, patients generally must endure painful lesions as well as other symptoms — like fever and swollen lymph nodes — until their rashes scab over and heal. Like other poxviruses, monkeypox can leave scars.However, authorities have been careful not to downplay the danger monkeypox's complications might pose beyond its physical pain.For example, in the United Kingdom, authorities reported that some hospitalized patients faced ""severe swelling"" that might strangle circulation to the penis. In Spain, some patients were hospitalized due to bacterial infections of their sores. The CDC says that the patients who are at ""especially increased risk"" for severe monkeypox disease include: Young children under 8 years oldPeople who are pregnant or have a compromised immune systemPeople who have a history of eczema or atopic dermatitisThe agency also says that people living with HIV who have caught monkeypox during the current outbreak are not getting a more severe disease, as long as they are on treatment that is suppressing HIV.  What tests are available for monkeypox cases? Monkeypox cases to date in the U.S. have been diagnosed using CDC's lab test, which can tell whether someone is infected by an orthopoxvirus – the family of bugs that includes both monkeypox and others like smallpox. Those tests rely on doctors ""vigorously"" swabbing suspected lesions for samples that can be sent off to their state's public health labs that have launched the agency's test, as well as a growing number of commercial laboratories.Some labs have also raced to develop their own tests for suspected monkeypox cases, including via saliva or blood samples, though the Food and Drug Administration currently warns these methods ""may lead to false test results.""""We are actively doing studies to evaluate what other kinds of tests could be available, whether they are saliva tests, throat swabs, blood tests, but right now, we don't have the data to recommend using tests of those kinds,"" CDC Director Dr. Rochelle Walensky told reporters on July 15.What vaccines are available for monkeypox cases?The Biden administration has deployed two vaccines, originally stockpiled by the country to prepare for a potential smallpox emergency, known as Jynneos and ACAM2000. Both rely on versions of less-deadly relatives of smallpox to immunize their recipients. But unlike ACAM2000, Bavarian Nordic's Jynneos vaccine – which was approved by the FDA in 2019 to specifically combat monkeypox as well – carries far fewer risks because it relies on a version of the virus modified to prevent it from replicating and reduce its severity.Before the current outbreak, the U.S. had contracted Bavarian Nordic to manufacture ""bulk vaccine"" worth some 13 million doses of the company's Jynneos shots. The administration has now ordered some 7 million doses of that vaccine to be filled into vials and shipped to them from Bavarian Nordic through mid-2023. For now, federal officials have acknowledged that demand for the Jynneos far outstrips supply for the shots. Doses are being rationed for vaccinated either known close contacts of cases or others ""presumed"" to be at risk of having come into contact with a case, like having multiple recent sexual partners in a jurisdiction facing an outbreak.Some jurisdictions have announced plans to try and stretch their supply relying on only offering one dose for now of the two-shot vaccine, despite the FDA discouraging the move. More than 736,000 additional doses were made available for states on July 29, after an FDA inspection cleared use of a tranche of vaccine that had already been filled into vials from Bavarian Nordic. Further waves of vaccinations will need to wait for doses the Biden administration ordered filled into vials back in June, which the company says it expects will be delivered by the end of the year. The company also says it has supplied ""nearly 30 million doses"" of vaccine in the past, which have now expired. A spokesperson for the Department of Health and Human Services said on August 2 in a statement that it was working with Bavarian Nordic to test those doses to see if they can be salvaged, but acknowledged it was ""highly unlikely that these doses remain viable.""Can children be vaccinated for monkeypox?Children are not currently FDA approved to be vaccinated with Jynneos, although CDC officials disclosed earlier this year to a panel of its outside vaccine advisers that at least one pediatric patient had been offered a shot. Agency officials and local health systems have since confirmed other children who were close contacts of monkeypox cases have also been offered shots.Spokespeople for the FDA and CDC have declined to confirm how many requests have been granted for the use of the vaccine in children.  A spokesperson for Bavarian Nordic declined to offer details about whether it planned to trial the vaccine in children, but did say it planned to collect data on CDC's use of the shots. Monkeypox cases expected to climb across the nation as long lines form for vaccines 02:52 Are people who are vaccinated for smallpox protected against monkeypox?While people in the current outbreak are now being vaccinated with vaccines initially designed to combat smallpox, like ACAM200 or Jynneos, officials have cautioned that Americans who were vaccinated for smallpox decades ago are unlikely to be protected from a monkeypox infection.Though the U.S. stopped routine mass vaccination against smallpox in 1972, the CDC still recommends that scientists who are at risk of exposure because they work with orthopoxviruses — including monkeypox — in the lab get revaccinated every three years.In the current outbreak, the CDC says some cases had been vaccinated against smallpox ""decades prior."" And in the 2003 outbreak, CDC researchers did not find evidence that previous smallpox vaccination — among those infected — reduced the odds of patients facing severe disease or being hospitalized.""We do expect that people who have received the vaccine, even as children, will have some remaining immunity. But that is something that we're very interested in looking at, closely monitoring during this outbreak, to really define exactly how long that protection lasts and how much benefit people who have received vaccination many decades prior may still receive,"" said the CDC's Brett Petersen said on June 30, in a webinar with clinicians.How are monkeypox cases treated? While many monkeypox cases eventually resolve without medications, aside from pain relievers, the Biden administration has allowed doctors to request stockpiled courses of several treatments that have been developed in the past for smallpox.The most commonly requested of those drugs is the antiviral tecovirimat or TPOXX, which was developed out of federal research launched in 2002 to head off a potential bioterrorism attack. The FDA approved tecovirimat in 2018 to treat smallpox cases. However, that approval was in large part actually based on studies in animals infected with monkeypox and rabbitpox, with the regulator deeming it ""not feasible or ethical to conduct efficacy trials in humans"" for smallpox. Doctors looking to get courses of tecovirimat for their monkeypox patients must request them from the CDC under an ""expanded access"" protocol, which it recently worked with the FDA to streamline.The agency says that use of the drug is being considered for people with severe disease, or who have an additional risk factor such as a compromised immune system or lesions in a part of the body that ""might constitute a special hazard"" like on the genitals.Can it be contained?While health officials expect the number of monkeypox cases to continue to climb through at least August, authorities say they still hope to control the current outbreak.""There is community spread occurring. And while public health officials are working around the clock to contain the outbreak, it's important to say that I think we expect that these numbers will continue to increase,"" the CDC's Jennifer McQuiston told a webinar hosted by the American Medical Association on July 14.However, with more than 13,000 cases in the outbreak around the world as of July 18, some experts are skeptical public health authorities will be able to stem the spread of the virus. ""I think at this point, we've failed to contain this. We're now at the cusp of this becoming an endemic virus, where this now becomes something that's persistent that we need to continue to deal with,"" former FDA Commissioner Scott Gottlieb told ""Face the Nation"" on July 17.""This has spread more broadly in the community. I wouldn't be surprised if there's thousands of cases right now,"" Gottlieb added later. Alexander Tin CBS News reporter covering public health and the pandemic.","Monkeypox: What we know about the outbreak, vaccinations and treatments."
"A 7-Eleven convenience store has a sign in the window reading ""Now Hiring"" in Cambridge, Massachusetts, U.S., July 8, 2022. REUTERS/Brian Snyder/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryJob openings drop 605,000 to 10.7 million in JuneRetail, wholesale trade account for decline in vacanciesQuits little changed at 4.2 million; layoffs decreaseWASHINGTON, Aug 2 (Reuters) - U.S. job openings fell by the most in just over two years in June as demand for workers eased in the retail and wholesale trade industries, but overall market conditions remain tight, allowing the Federal Reserve to continue raising interest rates.Despite the larger-than-expected decrease in vacancies reported by the Labor Department in its Job Openings and Labor Turnover Survey, or JOLTS report, on Tuesday, the jobs market still favors workers. At least 4.2 million workers voluntarily quit their jobs in June and layoffs declined.Job openings are among several metrics being closely watched by Fed officials. The U.S. central bank has been delivering hefty interest rate hikes in its war against inflation, pushing the economy to the brink of a recession.Register now for FREE unlimited access to Reuters.com""The labor market may be cooling off, but the temperature decline is far from a plunge,"" said Nick Bunker, director of economic research at Indeed Hiring Lab in Washington. ""The outlook for economic growth may not be as rosy as it was a few months ago, but there's no sign of imminent danger in the labor market.""Job openings, a measure of labor demand, were down 605,000 to 10.7 million on the last day of June, the fewest since September 2021, the JOLTS report showed. June's decline was the largest since April 2020, when the economy was reeling from the first wave of the COVID-19 pandemic.Job openings have been declining since scaling a record high of 11.9 million in March. Still, job openings are nowhere the low levels seen during the Great Recession 13 years ago.Economists polled by Reuters had forecast 11.0 million vacancies. The Fed is trying to dampen demand for labor and the overall economy to bring inflation down to its 2% target.The central bank last week raised its policy rate by another three-quarters of a percentage point. It has now hiked that rate by 225 basis points since March.The government reported last week that the economy contracted 1.3% in the first half of the year. Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame, though overall economic momentum has cooled.NOT RECESSIONARY""The JOLTS report on the whole is one of many labor market indicators that don't look 'recessionary' despite more downbeat signals coming out of some other economic indicators,"" said Daniel Silver, an economist at JPMorgan in New York.Job openings decreased by 343,000 in the retail trade sector. The wholesale trade industry had 82,000 fewer vacancies, while state and local government education reported a reduction of 62,000 in openings.Hiring slipped to 6.4 million from 6.5 million in May. In June, there were 1.8 jobs for every unemployed person.About 4.2 million people quit their jobs in June, down from 4.3 million in May. The quits rate was unchanged at 2.8%. It is viewed by policymakers and economists as a measure of job market confidence. The high quits rate suggests wage inflation will likely persist for a while.The government reported last week that wages and salaries surged 1.4% in the second quarter after rising 1.2% in the January-March period. They accelerated 5.3% on a year-on-year basis, the largest rise since the current series began in 2001.Layoffs slipped to 1.3 million from 1.4 million in May. The layoffs rate was unchanged at 0.9%.Register now for FREE unlimited access to Reuters.comReporting by Lucia Mutikani; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.",U.S. job openings at nine-month low; labor market still tight.
"Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018.Ann Saphir | ReutersThe Federal Reserve still has a lot of work to do before it gets inflation under control, and that means higher interest rates, San Francisco Fed President Mary Daly said Tuesday.""People are still struggling with the higher prices they're paying and the rising prices,"" Daly said during a live LinkedIn interview with CNBC's Jon Fortt. ""The number of people who can't afford this week what they paid for with ease six months ago just means our work is far from done.""So far this year, the central bank has raised its benchmark interest rate four times, totaling 2.25 percentage points. That has come in response to inflation running at a 9.1% annual rate, the highest level since November 1981.The Fed in July raised its funds rate 0.75 percentage point, the same as it hiked in June. That was the largest back-to-back increase since the central bank started using the funds rate as its chief monetary policy tool in the early 1990s.But Daly said no one should take those big moves as an indication that the Fed is winding down its rate hikes.""Nowhere near almost done,"" she said in assessing the progress. ""We have made a good start and I feel really pleased with where we've gotten to at this point.""Futures pricing indicates the markets see the Fed raising rates another 0.5 percentage point in September and another half percentage point through the end of the year, taking the funds rate to a range of 3.25%-3.5%, according to CME Group data. The expectation is then that as the economy slows due to the policy tightening, the Fed then would start cutting by next summer.Daly pushed back on that notion.""That's a puzzle to me,"" she said. ""I don't know where they find that in the data. To me, that would not be my modal outlook.""Chicago Fed President Charles Evans also spoke Tuesday morning, saying the Fed is likely to keep its foot on the brake until it sees inflation coming down. He expects policymakers to raise rates by half a percentage point at their next meeting in September, but left the door open to a bigger move.""Fifty [basis points] is a reasonable assessment, but 75 could also be OK,"" he told reporters. ""I doubt that more would be called for."" A basis point is 0.01 percentage point.""We wanted to get to neutral expeditiously. We want to get a little restrictive expeditiously,"" Evans added. ""We want to see if the real side effects are going to start coming back in line ... or if we have a lot more ahead of us.""The rate-setting Federal Open Market Committee does not meet in August, when it will hold its annual symposium in Jackson Hole, Wyoming. It next meets Sept. 20-21.",Fed's Daly says 'our work is far from done' in raising rates to tame inflation.
"A US military aircraft with US House Speaker Nancy Pelosi on board prepares to land at Sungshan Airport in Taipei on August 2, 2022.Sam Yeh | AFP | Getty ImagesWASHINGTON -- House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday night, kicking off a controversial visit that had already strained the testy relationship between Beijing and Washington before it even began.China has spent weeks warning Pelosi not to come to the disputed territory, which Beijing considers a province of China, but which considers itself an independent nation.These warnings escalated into actions during the hours ahead of Pelosi's arrival, which marked the first time in 25 years that an American House speaker has visited Taiwan. The visit will reportedly last almost 24 hours.Hua Chunying, China's assistant minister of foreign affairs, said in a string of tweets Tuesday that Pelosi's visit to Taiwan was a ""major political provocation.""On Tuesday, China reportedly levied new import bans on more than 100 Taiwanese products, an apparent effort to impose a quick economic cost on Taipei for its role in Pelosi's high profile visit.The Chinese military also flexed its muscle by holding live fire exercises all day Saturday, just 80 miles from Taiwan.On Tuesday, as Pelosi's visit drew near, the People's Liberation Army deployed fighter jets to the Taiwan Straits that flew very close to the center line of the strait, which is rarely crossed.As Pelosi landed Tuesday night, Chinese state affiliated media announced that more live fire exercises would be conducted over the coming weekend -- notably, after Pelosi has left the area.For China experts, these military drills and bellicose public statements come as little surprise.""This is just something they have to do,"" said Andrew Mertha, the director of the China Global Research Center at the Johns Hopkins School of Advanced International Studies.""I would frankly be very surprised if Beijing does anything physically threatening in any meaningful way. I mean, it's not out of the question, but I would really be surprised,"" he said in an interview with CNBC.""What is likely to happen is some sort of subsequent actions to demonstrate that China can do something if it wants to,"" said Mertha. ""And that will be something as much for the domestic audience within China as for the international one.""Later this year, Chinese leader Xi Jinping is expected to begin an unprecedented third term as the leader of the Chinese Communist Party.Xi's need to consolidate public support and power within his party are the lens through which we should be looking at China's geopolitical actions, diplomats and experts say.And this is exactly what makes Pelosi's visit so provocative.After weeks of refusing to confirm or deny or discuss the Taiwan visit, Pelosi published a scathing op-ed in The Washington Post just as she landed on Tuesday.Taiwan, she wrote, ""is under threat"" from Beijing, which she painted as an existential danger to free people everywhere.""We take this trip at a time when the world faces a choice between autocracy and democracy,"" she said. ""We cannot stand by as the CCP proceeds to threaten Taiwan — and democracy itself.""""Our congressional delegation's visit should be seen as an unequivocal statement that America stands with Taiwan, our democratic partner, as it defends itself and its freedom.""CNBC PoliticsRead more of CNBC's politics coverage:Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending billUkraine’s counteroffensive in Kherson ‘gathering momentum’; UK advisor warns of nuclear riskDonald Trump in 2024: Eric Trump teases dad's third election run with golf bag at Saudi tour eventWhite House goes on offense to argue that the U.S. is not in a recessionFormer Obama White House aide Seth Andrew sentenced to year in prison for charter school theft schemeHouse passes bill to boost U.S. chip production and China competition, sending it to Biden",China ratchets up military and economic pressure on Taiwan as Pelosi begins her visit.
"Traders work on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 2, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryCompaniesSpeaker Nancy Pelosi expected in Taipei later todayCaterpillar falls after missing sales estimatesUber gains after reporting positive cash flowIndexes down: Dow 0.92%, S&P 0.61%, Nasdaq 0.45%Aug 2 (Reuters) - Wall Street's major indexes fell on Tuesday on concerns over rising U.S.-China tensions ahead of the arrival of U.S. House of Representatives Speaker Nancy Pelosi in Taiwan, with losses in industrial bellwether Caterpillar adding to the slide.Shares of chipmakers with a large exposure to China fell, while Caterpillar (CAT.N) slid 3.6% as slowing construction activity in the world's second largest economy and a halt in Russia operations added to its supply-chain woes. read more ""Chip stocks are really exposed to Asia. Some of them have 70% of their sales, especially chip equipment companies, in that region so it's a big deal for them,"" said Jack DeGan, chief investment officer at Harbor Advisory.Register now for FREE unlimited access to Reuters.comThe latest geopolitical uncertainty comes at a time when financial markets are struggling to grapple with the fallout of the Ukraine war, an energy crisis in Europe, soaring inflation and tightening of financial conditions.""Any kind of geopolitical concern can cause traders who gained quite a bit last week to take a little bit (profit) off the table.""The CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 24.31 points, its highest level in nearly a week and the Philadelphia SE semiconductor index (.SOX) fell 1%.At 10:16 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 301.47 points, or 0.92%, at 32,496.93, the S&P 500 (.SPX) was down 25.27 points, or 0.61%, at 4,093.36, and the Nasdaq Composite (.IXIC) was down 56.02 points, or 0.45%, at 12,312.95.Among individual stocks, DuPont de Nemours (DD.N) fell 1.4% after the industrial materials maker cut full-year outlook, while shares of credit-rating company S&P Global Inc (SPGI.N) dipped 2.6% on downbeat 2022 profit forecast. read more Uber Technologies Inc (UBER.N) jumped 14.1% after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit. read more Pinterest Inc (PINS.N) surged 13.3% as the activist investor Elliott Investment Management become the largest shareholder of the digital pin-board firm. read more Meanwhile, data showed U.S. job openings fell more than expected in June, suggesting that labor demand was starting to cool, which could ease the pressure on the Federal Reserve to aggressively raising interest rates. read more The U.S. central bank has raised rates by 2.25 percentage points this year and has vowed to be data-driven in its approach toward future hikes.Declining issues outnumbered advancers for a 1.90-to-1 ratio on the NYSE and for a 1.11-to-1 ratio on the Nasdaq.The S&P index recorded one new 52-week highs and 30 new lows, while the Nasdaq recorded 21 new highs and 41 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Anil D'Silva and Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.","Wall Street falls on rising U.S.-China tensions, Caterpillar shares weigh."
"U.S. August 2, 2022 / 11:48 AM / CBS News Saudi Arabia-funded golf event sparks debate Saudi Arabia-funded LIV golf tournament sparks controversy 05:19 Tiger Woods rejected an offer around $700-$800 million to join the Saudi-backed LIV Golf series, CEO Greg Norman said. Fox News' Tucker Carlson asked Norman, a former No. 1-ranked golfer, about whether Woods turning down an offer in that range was true. Norman said the number came before his time as CEO, but admitted the proposal was in that ballpark. ""Look, Tiger's a needle mover, right?"" he said in interview that aired Sunday. ""So, of course, you're going to look at the best of the best. They had originally approached Tiger before I became CEO, so, yes, that number is somewhere in that neighborhood."" As Woods reached billionaire status in June, the Washington Post reported he turned down a ""high nine digits"" offer to play in the inaugural LIV Golf tour.  Tiger Woods rejected an offer worth around $700-800 million to play in the LIV Golf series, according to CEO Greg Norman.  / Getty Images The league has been mired in controversy since it kicked off this summer. It poached stars such as Phil Mickelson, Dustin Johnson and Brooks Koepka from the PGA Tour and paid them huge fees for joining and big payouts for winning. LIV Golf is backed by Saudi Crown Prince Mohammed bin Salman, who U.S. intelligence officials concluded in 2018 authorized the murder of Washington Post journalist Jamal Khashoggi. Last week, former President Donald Trump held a LIV Golf tournament at his club in New Jersey, prompting families of 9/11 victims to call out Mr. Trump and the golfers participating. 9/11 families even released an ad that said, ""I am never going to forgive the golfers for taking this blood money."" When asked by Carlson about why his tour has been ""offensive"" to American golf fans, Norman, who is Australian, replied, ""I don't know."" ""I really don't care,"" he said. ""I just love the game so much and I want to grow the game of golf.""  In: Tiger Woods Christopher Brito Christopher Brito is a social media producer and trending writer for CBS News, focusing on sports and stories that involve issues of race and culture. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Tiger Woods turned down offer around $700-800 million to play in LIV Golf, CEO Greg Norman says."
"Novelist Stephen King walks outside a court on the day he testifies in an antitrust case against a publisher merger, at the U.S. District Court in Washington, August 2, 2022.Tom Brenner | ReutersHorror author Stephen King said in testimony on Tuesday in a trial to determine if Penguin Random House will be allowed to merge with Simon & Schuster that consolidation in the book industry is bad for competition.In a trial that began on Monday, the U.S. Justice Department is arguing that a federal judge should block a $2.2 billion merger of two of the ""Big Five"" book publishers in a trial that is expected to also feature testimony from the chief executives of the two publishers.The government is arguing that the deal would lead to lower advances for some authors who earn $250,000 or more rather than a more traditional argument that consumers would pay more for books.King took issue with pledges that the companies have made to allow Simon & Schuster imprints, basically different brands of books, to continue to bid against Penguin Random House independently for books.""You might as well say you're going to have a husband and wife bidding against each other for the same house. It's kind of ridiculous,"" he said in court.",Horror author Stephen King says in publishing trial that consolidation hurts competition.
"Flags of U.S. and China are seen in this illustration picture taken August 2, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - China's foreign ministry on Tuesday condemned U.S. House of Representatives Speaker Nancy Pelosi's visit to China, saying it seriously damages peace and stability in the Taiwan Strait.In a statement issued just after her arrival in Taipei late on Tuesday, China's foreign ministry said Pelosi's visit severely impacts the political foundations of China-U.S. relations, and said it had lodged a strong protest with the United States.Register now for FREE unlimited access to Reuters.comReporting by Tony Munroe; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",China foreign ministry blasts Pelosi's arrival in Taiwan.
"U.S. House Speaker Nancy Pelosi (D-CA) holds her weekly news conference with reporters on Capitol Hill in Washington, U.S., July 14, 2022. REUTERS/Elizabeth Frantz/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - More than 30 years ago, U.S. Representative Nancy Pelosi angered China's government by showing up in Tiananmen Square and unfurling a banner honoring dissidents killed in the 1989 protests. read more On Tuesday, as speaker of the House of Representatives, Pelosi disregarded China's fiery warnings and landed in Taiwan to support its government and meet with human rights activists.Pelosi's trip to Taiwan capped her decades as a leading U.S. critic of the Beijing government, especially on rights issues, and underscores the long history of the U.S. Congress taking a harder line than the White House in dealings with Beijing.Register now for FREE unlimited access to Reuters.comSecond in line for the presidency after Vice President Kamala Harris, Pelosi became the most senior U.S. politician to travel to Taiwan since then-Speaker Newt Gingrich in 1997. She led a delegation of six other House members.In 1991, two years after China's bloody crackdown on pro-democracy demonstrations, Pelosi and two other U.S. lawmakers unfurled a banner in Tiananmen reading, ""To those who died for democracy in China.""Police closed in, forcing them to leave the square.In 2015, she took a group of House Democrats to Tibet, the first such visit since widespread unrest in 2008. Pelosi has regularly spoken out about human rights issues in Tibet and has met the Dalai Lama, whom Beijing reviles as a violent separatist.China views visits by U.S. officials to Taiwan as sending an encouraging signal to the island's pro-independence camp. Washington does not have official diplomatic ties with Taiwan but is legally bound to provide it with the means to defend itself.Kharis Templeman, a Taiwan expert at Stanford University's Hoover Institution, said Pelosi, who is 82, would be looking to cement her legacy, while signaling support for Taiwan against pressure from Beijing.""And what better person to send that signal than the speaker of the House herself? So she's in a very powerful symbolic position to take a stand against the CCP,"" Templeman said, referring to the Chinese Communist Party.Beijing considers Taiwan part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide its future.Chinese foreign ministry spokesman Zhao Lijian said a trip would lead to ""very serious developments and consequences.""Analysts said Beijing's response was likely to be symbolic. ""I think China has tried to signal that their reaction would make the U.S. and Taiwan uncomfortable, but would not cause a war,"" said Scott Kennedy, a China analyst at Washington's Center for Strategic and International Studies.HARD LINE IN CONGRESSCongress has long taken a harder line on Taiwan than the White House, no matter whether Democrats, such as President Joe Biden and Pelosi, or Republicans are in charge.Republicans supported Pelosi's trip. ""Any member that wants to go, should. It shows political deterrence to President Xi,"" Representative Michael McCaul, the top Republican on the House Foreign Affairs Committee, told NBC News. McCaul said he was invited to join Pelosi's Asia trip but was unable to do so.The executive branch takes ultimate responsibility for foreign policy but relations with Taiwan are one area where Congress wants influence. The Taiwan Relations Act, which has guided relations since 1979, passed Congress with an overwhelming majority after lawmakers rejected a proposal from then-President Jimmy Carter as too weak.Democrats and Republicans in the U.S. Senate are working on a bill that would overhaul that policy, including by increasing military support for Taiwan and expanding Taipei's role in international organizations. read more Pelosi's trip and Beijing’s reaction have pushed the White House to once again express - including in a call between Biden and Chinese President Xi Jinping last week - that it has no desire to change the status quo.Biden cast doubt publicly on the wisdom of the trip last month in a rare break with Pelosi, a close ally.""I think that the military thinks it's not a good idea right now, but I don't know what the status of it is,"" Biden told reporters.Pelosi's office refused ahead of the visit to rule out or confirm a possible stop by the speaker, citing security concerns typical for top U.S. officials.Pelosi announced on Sunday that she was leading a congressional delegation to Singapore, Malaysia, South Korea and Japan ""to reaffirm America's strong and unshakeable commitment to our allies and friends in the region.""U.S. defense officials played down the risk of China's military interfering with Pelosi's visit, but they worried that an accident could spiral into a larger conflict.Register now for FREE unlimited access to Reuters.comReporting by Patricia Zengerle and Michael Martina; additional reporting by Idrees Ali and Trevor Hunnicutt; editing by Mary Milliken and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Taiwan visit caps Nancy Pelosi's long history of confronting Beijing.
"Taco Bell's Mexican PizzaSource: Taco BellMexican Pizza will be returning as a permanent menu item at Taco Bell on September 15, according to the fast-food chain.The chain, owned by Yum Brands, had pulled the item in 2020 to simplify its menu before bringing it back this May. But Taco Bell said ingredient shortages could not keep up with demand, which was boosted in part by TikTok marketing efforts from rapper Doja Cat.After its May return, Taco Bell said the demand was seven times higher than when the item was previously available, outpacing its supply capabilities. It said one restaurant in California sold more than 1,000 of the pizzas made with beef and refried beans in one day. The supply issues have been addressed, according to a statement from the company. ""Taco Bell worked diligently to resolve depleted ingredients and supply chain challenges,"" it said.Shortages of other fast-food menu items in the past have also helped drum up buzz, including Popeyes first nationwide chicken sandwich in 2019.Taco Bell customers awaiting the return of the pizza might also be anticipating the release of ""Mexican Pizza: The Musical,"" starring Doja Cat and Dolly Parton, which was delayed along with the dish. Taco Bell told those diehard fans to ""stay tuned.""",Taco Bell says its Mexican Pizza will be back in September.
"Conservative leadership candidate Liz Truss speaks during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comSummaryConservatives' Truss climbs down on key pledgeOpponents say policy would have hit nurses, police officersPoll shows Truss-Sunak race to be next UK PM is closeLONDON, Aug 2 (Reuters) - Britain's foreign minister Liz Truss, the frontrunner to replace Boris Johnson as prime minister, was forced to backtrack on one of her most striking pledges a day after announcing it following a backlash from fellow Conservatives and opposition parties.In the first big misstep of her campaign, Truss set out plans to save billions of pounds a year in government spending in a pledge opponents said would require cutting the pay of public sector workers, including nurses and teachers, outside of the wealthy southeast of England.Truss had said late on Monday she would introduce regional pay boards rather than having a national pay agreement, tailoring pay to the cost of living where people actually work.Register now for FREE unlimited access to Reuters.comBut after criticism on Tuesday, Truss said: ""I never had any intention of changing the terms and conditions of teachers and nurses. But what I want to be clear about is I will not be going ahead with the regional pay boards.""The U-turn came as a poll showed Truss with a smaller lead over her rival Rishi Sunak than previously thought.A survey of 807 Conservative Party members by Italian data company Techne carried out July 19-27 found Truss was backed by 48%, compared with 43% for former finance minister Sunak.The result suggests a much tighter race than a previous poll of Conservative members carried out by YouGov on July 20-21, which gave Truss a 24-point lead over Sunak. read more 'SPEECHLESS'Truss's public sector pay plan had faced criticism from the main opposition Labour Party and some Conservative lawmakers.The Conservatives won the biggest majority in three decades at the 2019 national election by upending conventional British politics and winning in more industrial areas in central and northern England with a pledge to reduce regional inequalities.One Truss-supporting Conservative lawmaker said the miscalculation would damage the rest of the campaign.""This was a completely avoidable error, but I don’t think in the end it will stop her being prime minister,"" he said.Sunak supporter Ben Houchen, the Conservative mayor of Tees Valley, said he was ""speechless"" at the proposal.Millions of nurses, police officers and soldiers would have had their pay cut by 1,500 pounds ($1,828) a year, Sunak's campaign said.Rachel Reeves, Labour's finance spokesperson, said Truss's plan would have sucked money out of local communities.""This latest mess has exposed exactly what Liz Truss thinks of public sector workers across Britain,"" she said.Sunak and Truss are competing for the votes of about 200,000 Conservative members who will select the next prime minister, with the winner announced Sept. 5.Taxes have dominated the campaign race so far. Sunak has accused Truss of being ""dishonest"" with voters over her promises of immediate tax cuts, saying he would wait until inflation is under control before cutting taxes. Truss says that would push the country into recession.Over 60% of Conservatives in the Techne poll said Truss had better ideas on tax and inflation than Sunak. They also favoured her immigration plans.However, respondents said Sunak had better policies on Brexit and energy.John Curtice, a professor of politics at the University of Strathclyde and one of Britain's leading polling experts, said with so little polling it was hard to be certain the race was yet over for Sunak.""We perhaps don't know quite as much as everybody is confidently asserting,"" he told GB News on Monday.""In a race which certainly had seen some fairly radical and bold proposals made by both candidates ... we certainly don't know what impact if any it (has) had on the Tory membership as a whole.""($1 = 0.8205 pounds)Register now for FREE unlimited access to Reuters.comReporting by Andrew MacAskill and Kylie MacLellan; Editing by Tomasz Janowski, Christina Fincher and Mike HarrisonOur Standards: The Thomson Reuters Trust Principles.",UK leadership favourite Truss U-turns on pay plan in first big misstep.
"U.S. August 2, 2022 / 9:50 AM / CBS News CT man finds bear inside home CT man finds bear inside home 01:05 A couple caught a hungry black bear helping itself to a meal inside their Connecticut home, CBS New York reports. Bill Priest, of West Hartford, walked into his kitchen Sunday and found the intruder. He said he grabbed a chair to put between him and the animal. He eventually got the bear out through the front door, but not before it ate an entire bag of marshmallows and other snacks, the station reported. ""He did startle me. That was probably the one time I was scared,"" Priest said. ""He had everything on the floor in there eating.""Priest's wife, Christine Vannie, told WFSB that before the incident, she and her husband had just  gone to the back yard on when her husband went inside to grab a drink. They had outdoor music playing, so they didn't hear anything out of the ordinary — until Priest walked into the kitchen.""It took some convincing to get him to leave,"" she wrote on social media. ""I share this because most bears are shy and this one was not.""This just happened today!! DEEP has advised us.Posted by Christine Vannie on Sunday, July 31, 2022
Priest said the bear came back the next day and ripped a screen trying to get inside. Last week, he also saw a bear going through a fridge in his garage.  Vannie told WFSB she contacted the Connecticut Department of Energy and Environmental Protection, which dropped off a trap. The department is going to try to catch the bear, sedate it and then tag it.Black bears are becoming increasingly common in Connecticut as the population continues to grow and expand, according to the state's Department of Energy and Environmental Protection. In 2019, approximately 7,300 bear sightings from 150 of the state's 169 towns were reported to the agency's wildlife division.    In: Black Bear Connecticut Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",A Connecticut couple found a bear eating in their kitchen. It came back the next day.
"WASHINGTON — As House Speaker Nancy Pelosi landed in Taiwan on Tuesday evening local time for a long-rumored official visit, her trip has exposed a rare schism between the Biden White House and the most powerful Democrat in Congress.Officially, the Biden administration has been careful to avoid directly answering questions about whether it agrees with Pelosi's decision to make the trip.But unofficially, the White House and the Pentagon have made little secret of their opposition to such a visit, which comes at a time when U.S.-China relations are the poorest they've been in decades.In late July, Biden responded to a question about Pelosi's then-rumored stop in Taiwan by saying, ""The military thinks it's not a good idea right now. But I don't know what the status of it is.""For weeks, American officials from the president on down have tied themselves into knots trying to talk about Pelosi's choice to visit Taiwan, and stressing that it was her decision, and hers alone.Missing the pointNow, experts say it's becoming clear that this effort missed the point. That's because schisms in Washington are effectively meaningless to the rest of the world, which has learned to view American presidents and their top allies in Congress as interchangeable stand-ins for one another on foreign policy matters.The fact that U.S. policy toward Taiwan is deliberately ambiguous only serves to make it that much more difficult to draw any meaningful distinction between what Pelosi is doing and what the White House is saying.Pelosi, a longtime China hawk, has not officially announced that she will visit the self-ruled island off the coast of mainland China, which Beijing considers a renegade province.I think what you really see from China's side, and it's not unreasonable, is that we're kind of pushing the envelope of the One China policy.Andrew MerthaChina Global Research Center, Johns Hopkins School of Advanced International StudiesBut after weeks of Pelosi and her office refusing to confirm the visit, citing security concerns, Taiwanese media reported Monday that Pelosi and a congressional delegation of five other House Democrats planned to spend Tuesday night in the capital, Taipei, and meet with Taiwanese leaders and members of the island's legislature on Wednesday.Beijing has been furious for months over the reported visit, which would mark the first time in 25 years that an American House Speaker visited the island.Any trip by Pelosi ""will greatly threaten peace and stability across the Taiwan Strait, severely undermine China-US relations and lead to a very serious situation and grave consequences,"" senior Chinese diplomat Liu Xiaoming tweeted late Monday night. Liu's statement reflected the tone and tenor of weeks' worth of warnings and threats that have emanated from Beijing.On Tuesday, China escalated this rhetoric with a series of actions, starting with the announcement of new import bans on certain Taiwanese products. Shortly afterward, Reuters reported that several Chinese warplanes had flown close to the median line of the Taiwan Strait.Hours later, a major Taiwanese media outlet reported that the island's own military would be on heightened alert in response to Chinese live fire exercises being held in anticipation of Pelosi's reported visit.Given that Pelosi is traveling aboard a U.S. military aircraft for the entirety of her trip to Asia this week, the quickly escalating military tensions between China and Taiwan carry especially high risks.They also underscore what a difficult position Pelosi's trip has placed the Biden White House into.'Independent branch of government'As reports of the trip solidified in recent days, Biden's top spokespeople have been forced to say over and over that they cannot confirm or deny the existence of any upcoming trip, and at the same time downplay its significance.""I want to reaffirm that the Speaker has not confirmed any travel plans,"" National Security Council spokesman John Kirby told reporters Monday, ""So we won't be commenting or speculating about the stops on her trip.""Still, Kirby confirmed moments later that Biden had specifically raised the topic of Pelosi's unconfirmed trip with Chinese President Xi Jinping last week, during a video call that lasted more than two hours.Biden ""made clear that Congress is an independent branch of government and that Speaker Pelosi makes her own decisions, as other members of Congress do, about their overseas travel,"" said Kirby. ""That was made clear.""Moments after saying Biden and Xi had personally discussed the trip, Kirby again sought to downplay its importance.""I think we've laid out very clearly that if she goes — if she goes — it's not without precedent. It's not new. It doesn't change anything,"" he said. ""We've not ramped up the rhetoric. We've not changed our behavior.""CNBC PoliticsRead more of CNBC's politics coverage:Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending billUkraine’s counteroffensive in Kherson ‘gathering momentum’; UK advisor warns of nuclear riskDonald Trump in 2024: Eric Trump teases dad's third election run with golf bag at Saudi tour eventWhite House goes on offense to argue that the U.S. is not in a recessionFormer Obama White House aide Seth Andrew sentenced to year in prison for charter school theft schemeHouse passes bill to boost U.S. chip production and China competition, sending it to BidenTo foreign policy experts, the White House's effort to convince Beijing that it must distinguish between the behavior of the top Democrat in Congress and the intent of the Democratic administration is a futile one.""Saying that this is a whole lot of nothing or that the Chinese shouldn't read into it ... Well, anybody who has spent half a minute looking at China knows that they attach some sort of intentionality to everything we do,"" said Andrew Mertha, the director of the China Global Research Center at the Johns Hopkins School of Advanced International Studies.Any suggestion that a visit by someone as important as Pelosi would be seen by Beijing as anything but an in-person expression of American support for Taiwanese independence, he said, is unimaginable.This is especially true after Biden himself said, on three separate occasions, that the U.S. would come to the defense of Taiwan if China were to invade the island.Those statements, said Mertha, undermined decades of assurances from Washington that the U.S. would maintain a policy of strategic ambiguity on the question of who controls Taiwan.""I think what you really see from China's side, and it's not unreasonable, is that we're kind of pushing the envelope of the One China policy,"" said Mertha, referring to the longstanding U.S. position of recognizing Beijing as the sole legal government of China, but not formally recognizing Taiwan as subject to the government in Beijing.""They're alarmed,"" Mertha said of Beijing, ""and I don't blame them.""","Pelosi's Taiwan trip is a new headache for Biden, increases tension with China."
"Politics Updated on: August 2, 2022 / 11:28 AM / CBS News CBS News Live CBS News Live Live House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday, arriving for a controversial stop on her tour of Asian countries that has become a flashpoint amid rising tensions between the U.S. and China. Pelosi and other members of Congress emerged from a U.S. military jet that touched down Tuesday evening in Taipei, where they were greeted by a contingent of Taiwanese officials on the tarmac. The plane traveled from Kuala Lumpur on a flight path that avoided the South China Sea and the Chinese mainland, according to the tracking website FlightAware. Pelosi's trip to Taiwan has been cloaked in secrecy and stoked the ire of Beijing, which raised the prospect of a military response to the visit. The White House has said it had no control over Pelosi's decision to visit the island, and has insisted that there has been no change to U.S. policy toward Taiwan and the Chinese government. As the second in line for the presidency, Pelosi is the highest-ranking U.S. official to visit the island in 25 years. The California Democrat's history of pushback against Beijing dates back to 1991, when she displayed a pro-democracy banner in Tiananmen Square, defying Chinese officials. A U.S. military aircraft with House Speaker Nancy Pelosi on board prepares to land at in Taipei on August 2, 2022. SAM YEH/AFP via Getty Images In a statement shortly after the plane landed, Pelosi said her visit was meant to honor ""America's unwavering commitment to supporting Taiwan's vibrant Democracy."" ""Our discussions with Taiwan leadership will focus on reaffirming our support for our partner and on promoting our shared interests, including advancing a free and open Indo-Pacific region,"" she said. ""America's solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy.""The speaker emphasized that the visit ""in no way contradicts longstanding United States policy"" toward Taiwan and China, and said the U.S. ""continues to oppose unilateral efforts to change the status quo.""In an op-ed for The Washington Post explaining her rationale for the visit, Pelosi criticized Beijing's actions in Hong Kong, Tibet, Xinjiang and across the mainland, saying China's ""abysmal human rights record and disregard for the rule of law continue, as President Xi Jinping tightens his grip on power.""A Taiwanese government official said Pelosi was expected to meet with President Tsai Ing-wen and members of the legislature in Taipei. The U.S. delegation is expected to stay Tuesday night in the capital and hold meetings throughout the day Wednesday before departing. The skyscraper Taipei 101, the island's iconic tallest building, flashed messages welcoming Pelosi to the capital ahead of her arrival Tuesday evening. The Taipei 101 building lit up with a message reading ""Speaker Pelosi"" as a welcome sign for House Speaker Nancy Pelosi's visit in Taipei, Taiwan, on Tuesday, Aug. 2, 2022. Bloomberg Beijing considers self-ruled Taiwan to be part of China, and Chinese officials have been warning they would regard Pelosi's visit as a major provocation.During a two-hour phone call with President Biden last week, Chinese President Xi Jinping demanded Pelosi cancel the trip. Earlier in July, Mr. Biden said U.S. military officials thought it was ""not a good idea"" for Pelosi to visit Taiwan right now. According to Reuters, Chinese foreign ministry spokesman Zhao Lijian said Monday its military would ""not sit idly by"" if Pelosi visited. During a daily briefing, Lijan said a visit by the ""No. 3 official of the U.S. government"" would ""lead to egregious political impact."" On Monday, National Security Council spokesman John Kirby confirmed Pelosi was traveling on a U.S. military aircraft, and he said she had been briefed on Taiwan. ""There have been direct conversations with the speaker and her staff before she left at various levels in the national security establishment,"" Kirby said, though he did not confirm any plans by her to travel to Taiwan. ""The president did not speak directly with the speaker about this trip.""Kirby said ""the speaker makes her own decisions"" when asked if the military still believed it was not a good idea for her to go. ""What we did was provide her context, analysis, facts, information, so that she could make the best decision possible for every stop for every overseas travel,"" Kirby added. But Kirby warned about China's ""saber rattling,"" including military provocations such as potentially firing missiles into the Taiwan Strait and large-scale air entry into Taiwan's air space. He also mentioned diplomatic escalations, like Beijing's public assertion last week that the Taiwan Strait is not an international waterway.""Some of these actions would continue concerning trend lines that we've seen in recent years, but some could be of a different scope and scale,"" Kirby said. ""Last time Beijing fired missiles into the Taiwan Strait was 1995 and 1996 after Beijing reacted provocatively to Taiwan's president's visit to deliver an address at his alma mater.""The split between Taiwan and the mainland government began in 1949, when Chinese nationalists fled to the island amid a civil war with the Chinese Communist Party. The Taiwanese government considers itself the legitimate government of China. Beijing views the island as a breakaway rogue state and part of its own territory. The U.S. recognized Beijing as the legitimate Chinese government in 1979 and does not support Taiwanese independence, but maintained informal ties with the government, following a policy of ""strategic ambiguity."" A 2018 law known as the Taiwan Travel Act made the U.S.-Taiwan relationship official, but below the level of formal diplomatic ties.Pelosi is not the first House speaker to visit Taiwan. Former Speaker Newt Gingrich, a Republican, visited in 1997. Other American officials have made low-profile visits to Taiwan to show support to the island, but Pelosi's visit has garnered much more attention.Ramy Inocencio, Nancy Cordes, Kathryn Krupnick and Rebecca Kaplan contributed reporting. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Pelosi lands in Taiwan amid high-pressure standoff with China.
"U.S. House Speaker Nancy Pelosi (D-CA) addresses reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi arrived in Taiwan late on Tuesday, sparking an immediate backlash from Beijing, which had warned her against a visit, saying it would undermine China-U.S. relations.Pelosi and her delegation disembarked from a U.S. Air Force transport plan at Songshan Airport in downtown Taipei late on Tuesday and were greeted by Taiwan's foreign minister, Joseph Wu, and Sandra Oudkirk, the top U.S. representative in Taiwan.Her arrival sparked immediate criticism from Beijing, with China's foreign ministry saying it seriously violated China's sovereignty and territorial integrity. State media announced military excercises later this week and Chinese war planes flew over Taiwan Strait before her arrival.Pelosi was on a tour of Asia that includes announced visits to Singapore, Malaysia, South Korea and Japan. Her stop in Taiwan had not been announced but had been widely anticipated.China claims self-ruled Taiwan as its own, and a foreign ministry spokesman said earlier this week that any visit by Pelosi would be ""a gross interference in China's internal affairs"" and warned that ""the Chinese People's Liberation Army will never sit idly by.""Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu and Yimou Lee
Writing by Tony Munroe; Editing by Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",U.S. House Speaker Pelosi arrives in Taiwan.
"A White Castle team member next to Miso Robotics' Flippy.Courtesy: Miso RoboticsBefore the end of this year, a brand-new pizza purveyor plans to hit the Los Angeles area. But this isn't just another pizza place.This company plans to serve pizza from trucks and the pies themselves are put together not by humans but by robotics developed by former engineers from SpaceX. The machine can produce a pizza every 45 seconds. Benson Tsai, who founded Stellar Pizza in 2019 along with fellow SpaceX engineers Brian Lagone and James Wahawisan, got about two dozen former SpaceX employees to build a touchless pizza-making machine that fits in the back of a truck. Stellar isn't the first company to conceive of robot-made pizza, and the early track record for the business model includes one notable failure. Softbank-backed Zume Pizza, which was once valued at $4 billion, shuttered its robot pizza delivery business in January 2020 and has since pivoted to making compostable packaging.Entrepreneurs are not giving up on the robot pizza concept, and they are taking it global as well. In February, Dubai launched an automated pizza kiosk, a project backed by chef Anthony Carron's 800 Degrees Go of Cleveland, which specializes in wood-fired cooking, and robot-based artisanal pizza maker Piestro of Santa Monica, Calif. The two plan to have 3,600 machines deployed in the next five years.The trend has moved far beyond pizza as well, with Miso Robotics, the maker of the Flippy 2 — a robot arm that works the fryer at fast-food restaurants — already deployed at Chipotle, White Castle and Wing Zone. It's being introduced to the Middle East market as well through a partnership with Americana, a franchisor and franchisee with over 2,000 restaurants in the region including KFC, Hardees and Pizza Hut.Robot chefs becoming ""commonplace""Jake Brewer, Miso Robotics' chief strategy officer, said such machinery will soon be commonplace in restaurants.""I believe that if anyone wanted to, they could go see a robot working in a restaurant in 2024, 2025,"" Brewer said. ""You can go see robots cooking right now and that's only going to grow week over week."" Chipotle Mexican Grill worked with Miso Robotics to customize the ""Chippy"" robot, which cooks and seasons Chipotle's chips with salt and fresh lime juice. The robot is trained to recreate the exact recipe using artificial intelligence.As of March, Chipotle was testing the robot at its innovation hub in Irvine, California, the Chipotle Cultivate Center. The company plans to use it in a restaurant in Southern California later this year and will determine if it will roll it out nationally.""Right now, the general sense is that there's going to be a lot more robots,"" said Dina Zemke, assistant professor at Ball State University. She said in the past adding robotics to the staff was prohibitively expensive, but now there are more companies making kitchen-ready robots, which is helping to drive prices down.A finished pepperoni pizza exiting a machine made by Stellar Pizza, a robotics-powered mobile pizza restaurant created by a team of former SpaceX engineersMedianews Group/long Beach Press-telegram | Medianews Group | Getty ImagesFast-food preparation is made for robotics. ""The recipes are highly standardized. And really, it's mostly heating an assembly,"" Zemke said. ""No one's creating just the right secret sauce in the back of the house; all of that is provided through a commissary system.""Wing Zone, a 61-unit chain, is perhaps the most robotics-friendly fast-food restaurant right now. In May, the chain expanded its relationship with Miso Robotics. Wing Zone has been testing Flippy 2 in the last step of the wing-frying process and is using its Wing Zone Labs arm to develop fully automated Wing Zones.Lack of restaurant staff aids robotics pushPart of the adoption is driven by an inability to find workers. The National Restaurant Association reported last year that 4 in 5 operators are understaffed, and overall employment in the leisure and hospitality category that includes restaurant staffing has been the most challenged since the pandemic, according to data from the Bureau of Labor Statistics.A recent report from Lightspeed found that 50% of restaurant owners plan to install automation technology within the next two or three years.For Chipotle, it's not about replacing workers but allowing them to complete more impactful tasks than repetitive things like making chips.""It started with, 'How do we remove some of the dreariness of a worker standing at the fryer and frying chip basket after chip basket?'"" Chipotle chief technology officer Curt Garner told CNBC earlier this summer. ""It allows our crew to spend more time doing culinary tests, serving guests,"" he said.Clemson University professor Richard Pak, an expert on the use of autonomous technology, said automation works better for food that is cheap. ""When you're paying for it, when you're paying more, you're paying for experience and artistry and experience,"" he said. ""And so I don't know if these kinds of robots would be acceptable in higher-end restaurants. People would wonder what they're paying for.""Yet there is some trepidation in the broader restaurant market as well. A recent poll by Big Red Rooster found that a third of diners don't want to see robots preparing their food.For Stellar founder Tsai, the robotics are a means to an end: making sure that the company can deliver an affordable pizza pie that customers like. While pricing has not been finalized, he said the target price is ""definitely sub-$10."" A 12-inch pie of cheese pizza will run about $7, Tsai said. The plan for Stellar, which has raised $9 million in funding, includes national expansion. ""The pizza market is a big, big market and as we sort of establish a foothold here in Los Angeles we will start to grow and expand outwards towards Las Vegas, towards Phoenix, towards Texas,"" Tsai said.",Robot cooks are rapidly making their way into restaurant kitchens.
"MoneyWatch August 2, 2022 / 10:47 AM / CBS/AP China warns U.S. if Pelosi visits Taiwan China warns U.S. will ""pay the price"" if Pelosi visits Taiwan 01:51 Wall Street opened lower Tuesday as a possible visit by U.S. House Speaker Nancy Pelosi to Taiwan has prompted threats from Beijing of a military response. The S&P 500 declined 24 points to 4,095, or 0.6% in morning trading. The Dow Jones industrials fell 0.8% and the Nasdaq slid 0.5%.""Tensions between U.S, and China are likely to intensify given Pelosi's intended visit to Taiwan, and the risks of an accident are likely underappreciated by markets,"" TD Securities analysts said in a client note. China sees Taiwan as its own territory and has repeatedly warned of ""serious consequences"" if the reported trip to the island democracy by the House speaker, who is second in the line of succession to the U.S. presidency, goes ahead. Pelosi has said she is visiting Singapore, Malaysia, South Korea and Japan for talks on a variety of topics, including trade, COVID-19, climate change and security.While there have been no official announcements, local media in Taiwan reported Pelosi will arrive Tuesday night, making her the highest-ranking elected U.S. official to visit in more than 25 years. ""The first big relief point will be Pelosi's safe arrival in Taiwan, followed by her safe departure,"" said Stephen Innes, managing partner at SPI Asset Management. ""No party wants a real war, but the risk of mishap or even aggressive war game escalation is real, which could always lead to a tactical mistake."" Amid recession fears in bear market, experts say 401(k) investors should think long term 04:58 Meanwhile, high inflation continues to drag on markets along with the potential for further interest rate hikes from central banks that could unintentionally push economies into a recession.More than half of the companies in the S&P 500 have reported their latest earnings results, which have been mostly better than expected. However, companies have also warned that inflation is weighing on customer spending and squeezing operations. Businesses have been raising prices to try to keep up profits.Uber jumped 14% in premarket after the ridesharing company said rides increased by 24% and revenue more than doubled in the second quarter as as Americans headed back to offices and are going out more as anxiety over COVID-19 eases. BP shares rose 2.5% in premarket trading after the British energy giant reported that its earnings tripled in the second quarter as it profited from oil and natural gas prices that soared after Russia invaded Ukraine.Wall Street will also get several updates on the job market, which has remained strong. The Labor Department will release its June survey on job openings and labor turnover on Tuesday and its closely-watched monthly employment report for July on Friday.""Where is the economy going?"" This is what experts are saying about America's uncertain economic futureThe economy is creaking, but likely isn't in a recessionA surge in oil prices throughout the year only worsened the impact from inflation. U.S. crude oil prices are up roughly 25% in 2022 and that has raised gasoline prices in the U.S. to record levels.In energy trading, benchmark U.S. crude gained 67 cents to $94.56 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, rose 52 cents to $100.55 a barrel. In: Taiwan United States Congress Singapore Economy South Korea Nancy Pelosi Stock Market Gas Prices Inflation China Asia United States House of Representatives Japan Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Stocks dip as Nancy Pelosi's Asia trip rattles investors.
"U.S. House Speaker Nancy Pelosi (D-CA) takes questions during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - House of Representatives Speaker Nancy Pelosi arrived in Taiwan on Tuesday with a clear message for China, saying the U.S. commitment to a democratic Taiwan is more important than ever.In a visit that drew immediate condemnation from Beijing, Pelosi became the first official visit to Taiwan by a speaker of the House in 25 years.""Our congressional delegation's visit to Taiwan honors America's unwavering commitment to supporting Taiwan’s vibrant Democracy,"" Pelosi said in a statement shortly after landing.Register now for FREE unlimited access to Reuters.comShe added that the visit by her congressional delegation, which includes an overnight stay, was completely in line with longstanding U.S. policy on Taiwan.Discussions with Taiwanese leadership will focus on shared interests including advancing a free and open Indo-Pacific, Pelosi said.""America’s solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy,"" Pelosi said in the statement, issued as China condemned her visit and said it would badly damage Sino-U.S. relations.In a Washington Post opinion piece released shortly after she landed, Pelosi outlined her reasons for visiting, praising Taiwan's commitment to democratic government while criticizing China as having dramatically increased tensions with Taiwan in recent years.""In the face of the Chinese Communist Party's (CCP) accelerating aggression, our congressional delegation's visit should be seen as an unequivocal statement that America stands with Taiwan,"" Pelosi wrote.Register now for FREE unlimited access to Reuters.comReporting by Doina Chiacu, Chris Gallagher, Katharine Jackson; Editing by Chizu Nomiyama and Will DunhamOur Standards: The Thomson Reuters Trust Principles.",Pelosi: America's solidarity with Taiwanese people more important than ever.
"A trader works on the trading floor on the last day of trading before Christmas at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., December 23, 2021. Register now for FREE unlimited access to Reuters.comNEW YORK, Aug 2 (Reuters Breakingviews) - Tech valuations are in freefall amid a darkening economic picture, leaving private equity buyers to sift through the wreckage. In this episode of The Exchange podcast, Thoma Bravo managing partner Seth Boro explains how his firm is navigating the market shift.Listen to the podcastFollow @JMAGuilford on TwitterRegister now for FREE unlimited access to Reuters.comEditing by Amanda GomezOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Thoma Bravo is riding the tech downturn: podcast.
"A flag outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S., on Wednesday, Feb. 23, 2022.Al Drago | Bloomberg | Getty ImagesThe Securities and Exchange Commission on Monday filed a civil complaint charging 11 people for their roles in creating and promoting an allegedly fraudulent crypto-focused pyramid scheme that raised more than $300 million from investors.The scheme, called Forsage, claimed to be a decentralized smart contract platform, and it allowed millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron and binance blockchains. But under the hood, the SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation. In the SEC's formal complaint, Wall Street's top watchdog calls Forsage a ""textbook pyramid and Ponzi scheme,"" in which Forsage aggressively promoted its smart contracts through online promotions and new investment platforms, while all the while not selling ""any actual, consumable product."" The complaint goes on to say that ""the primary way for investors to make money from Forsage was to recruit others into the scheme.""In a statement, the SEC added that Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" wrote Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit.""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Forsage, through its support platform, declined to offer a method for contacting the company and did not offer comment.Four of the eleven individuals charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia and Indonesia.The SEC has also charged three U.S.-based promoters who endorsed Forsage on their social media platforms. They were not named in the commission's release.Forsage was launched in January 2020, and regulators around the world had tried a couple of different times to shut it down since then. Cease-and-desist actions were brought against Forsage first in September of 2020 by the Securities and Exchange Commission of the Philippines, and later, in March 2021, by the Montana commissioner of securities and insurance. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.Two of the defendants, both of whom did not admit or deny the allegations, agreed to settle the charges, subject to court approval.",SEC charges 11 people in alleged $300 million crypto Ponzi scheme.
"Former al Shabaab group co-founder and spokesperson Mukhtar Robow sits among colleagues after he was named as the minister in charge of religion by Prime Minister Hamza Abdi Barre in Mogadishu, Somalia August 2, 2022. REUTERS/Feisal OmarRegister now for FREE unlimited access to Reuters.comMOGADISHU, Aug 2 (Reuters) - Somali Prime Minister Hamza Abdi Barre on Tuesday named a co-founder and spokesman of the Islamist al Shabaab as minister for religious affairs, a move that could either help strengthen the fight against the insurgents or provoke further clan clashes.Mukhtar Robow had a $5 million U.S. bounty on his head after he co-founded al Qaeda-linked al Shabaab and served as the group's spokesman.Al Shabaab insurgents have killed tens of thousands of people in bombings in their fight to overthrow Somalia's Western-backed central government and implement its interpretation of Islamic law.Register now for FREE unlimited access to Reuters.comRobow split from the group in 2013 and publicly denounced al Shabaab when he came to the government side in 2017.But the relationship soured after he grew too politically powerful. Somalia's previous government arrested Robow in December 2018 as he campaigned for the regional presidency of southwest state.Security forces shot dead at least 11 people in the protests that followed, sparking criticism from the United Nations.Robow's new job sparked a flurry of hashtags on twitter crowing he had made it #FromPrisonertoMinister. He had been held under house arrest until recently.His appointment could help strengthen government forces in his native Bakool region, where insurgents hold substantial amounts of territory but where Robow also commands support. Or it could fan flames with the region's president, who sees him as a political rival.""We welcome his appointment. The move will advance reconciliation and will serve as a good example for more high level al-Shabab defections,"" said political analyst Mohamed Mohamud.""Al Shabaab members who might be thinking of surrendering ... can dream of serving their country at the highest levels.""New President Hassan Sheikh Mohamud, elected by lawmakers in May, has promised to take the fight to the insurgents after three years in which his predecessor, consumed by political infighting, took little action against al Shabaab.That allowed the insurgents to build up substantial reserves of cash and carry out attacks over a wide swathe of Somalia. Last week scores of al Shabaab fighters and Ethiopian security forces were killed in clashes along the two nations' shared border.Register now for FREE unlimited access to Reuters.comAdditional by Abdi Sheikh and Daud Yusuf in Nairobi, Kenya; Writing by Katharine Houreld and George Obulutsa; Editing by Estelle ShirbonOur Standards: The Thomson Reuters Trust Principles.",Somalia appoints al Shabaab co-founder as religion minister.
"A passenger walks near Uber signage after arriving at Los Angeles International Airport (LAX) in Los Angeles, California, U.S. July 10, 2022. REUTERS/David Swanson/File Photo Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Uber Technologies Inc (UBER.N) reported positive quarterly cash flow for the first time ever on Tuesday and forecast third-quarter operating profit above estimates, as more people rely on its services for transport and ordering in food.The company's stock surged 15% to $28.2 and helped push shares of Lyft Inc (LYFT.O) by 11% and DoorDash (DASH.N) by 4%.Uber generated free cash flow of $382 million in the second quarter, topping analysts' expectations of $263.2 million, as trips exceeded levels seen before the pandemic, boosted by office reopenings and a surge in travel demand.Register now for FREE unlimited access to Reuters.comThe company also added more drivers and delivery agents to its fleet in the quarter, taking their total number to an all-time high of about 5 million and allaying concerns that soaring gas prices were deterring them from signing up.""We have a very strong flow of new drivers who are signing up, coming on to earn,"" Chief Executive Officer Dara Khosrowshahi said, adding that more than 70% of new drivers opted to join Uber to manage a hit from inflation and rising costs of living.At its delivery business, which includes Uber Eats, growth slowed from the prior quarter but the company expects ordering in to become a habit for consumers.Revenue from Uber's delivery segment rose 37% to $2.69 billion, while that of ride-share business surged 120% to $3.55 billion in the quarter ended June 30, both surpassing Wall Street expectations.""These results are particularly impressive given the growing list of macro and micro concerns weighing on Uber and Lyft,"" MKM Partners analyst Rohit Kulkarni said.Lyft is scheduled to report results on Thursday.Uber's net loss was $2.6 billion, largely hurt by investments in companies such as India's Zomato (ZOMT.NS). It is likely to sell its stake in the Indian food-delivery firm on Wednesday, a source told Reuters. read more Uber's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) were $364 million, surpassing estimates of $257.89 million, according to IBES data from Refinitiv.It now expects adjusted EBITDA of $440 million-$470 million, also above estimates of $383.95 million.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.",Uber turns cash flow positive for the first time in bumper quarter.
"Google CEO Sundar Pichai speaks on stage during the annual Google I/O developers conference in Mountain View, California, May 8, 2018.Stephen Lam | ReutersGoogle is launching a new effort called ""Simplicity Sprint"" in an effort to improve efficiency and improve employee focus during an uncertain economic environment.The Alphabet company had its regular all-hands meeting last Wednesday, and the tone was somewhat urgent as employees expressed concern over layoffs and CEO Sundar Pichai asked employees for input, according to attendees and related internal documentation viewed by CNBC. Google’s productivity as a company isn’t where it needs to be even with the head count it has, Pichai told employees in the meeting.“I wanted to give some additional context following our earnings results, and ask for your help as well,” Pichai opened, referring to the company's second-quarter earnings report Tuesday. ""It’s clear we are facing a challenging macro environment with more uncertainty ahead.""He added, ""There are real concerns that our productivity as a whole is not where it needs to be for the head count we have."" He asked employees to help ""create a culture that is more mission-focused, more focused on our products, more customer focused. We should think about how we can minimize distractions and really raise the bar on both product excellence and productivity.”It comes after the company on Tuesday reported its second consecutive quarter of weaker-than-expected earnings and revenue. Revenue growth slowed to 13% in the quarter from 62% a year earlier, when the company was benefiting from the post-Covid pandemic reopening and consumer spending was on the rise. CFO Ruth Porat said she expected some of the challenges to continue in the near term but the company doesn't give formal guidance.It also comes after Pichai recently announced that it would slow the pace of hiring and investments through 2023, asking employees to work “with greater urgency” and “more hunger” than shown “on sunnier days.""‘Simplicity Sprint’“I would love to get all your help,” Pichai said at Wednesday's all-hands meeting, speaking to its more than 170,000 full-time employees.To that end, Pichai introduced a ""Simplicity Sprint"" initiative to crowdsource ideas for quicker product development. ""Sprint"" is a term often used in software development and by tech startups to denote short, focused pushes toward a common goal.Pichai said the company is opening the floor for employees to share their ideas through Aug. 15 through an internal survey that asks if management can reach out if they have follow-up questions.Stock picks and investing trends from CNBC Pro:It’s an attempt for the company to “get better results faster,"" Pichai said during the meeting. The survey, which was viewed by CNBC, shows it may also be used to cut back in certain areas.Questions in the survey include “What would help you work with greater clarity and efficiency to serve our users and customers? Where should we remove speed bumps to get to better results faster? How do we eliminate waste and stay entrepreneurial and focused as we grow?”The request also comes as the company tries to ease tensions between employees and executives after an annual “Googlegeist” survey showed staffers gave the company particularly poor marks on pay, promotions and execution.Highlighting a 7% dip in views about Google’s execution, executive Prabhakar Raghavan at the time wrote “that means we need to bring more attention to busting bureaucracy."" Raghavan is among the most important and influential execs at the company, overseeing search, ads, mapping and other areas.In May, the company announced it would overhaul its performance evaluation process that will result in increased salaries while hoping to reduce the bureaucracy around compensation and raises.‘Some anxiety’In Wednesday's all-hands meeting, executives addressed employees' concern about potential layoffs. One of the top-rated questions was “In light of Sundar’s statement that sharpening Google’s focus ‘means consolidating where investments overlap and streamlining processes,’ should we expect layoffs?”Pichai handed the question off to Google’s chief people officer, Fiona Cicconi.While Cicconi said the company is still hiring and doesn't have plans for layoffs right now, she didn’t rule it out.“We’re asking teams to be more focused and efficient and we’re working out what that means as a company as well. Even though we can’t be sure of the economy in the future, we're not currently looking to reduce Google's overall workforce.""She also said, “I really get that there is some anxiety around this based on what we’re hearing from other companies and what they’re doing and as Sundar mentioned, we’re still hiring for critical roles,” Cicconi said. She asked employees to remember that it’s still the biggest hiring year in the company’s history.In the second quarter, Alphabet said its head count rose 21% to 174,014 full-time employees from 144,056 the year prior. However, the company said last month it will slow the pace of hiring and investments through 2023, and Pichai told employees in a memo, ""we're not immune to economic headwinds.""Pichai noted the broader economic headwinds multiple times. “If you’re looking to what's happening externally — I’m sure you’re all reading the news— the people in businesses who use Google products are facing their own challenges right now.”","Google CEO tells employees productivity and focus must improve, launches 'Simplicity Sprint' to gather employee feedback on efficiency."
"Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sandy Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The father of a child killed in the Sandy Hook massacre told a jury that he had endured years of ""hell"" after U.S. conspiracy theorist Alex claimed the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in a Texas court to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.com""I can’t even describe the past nine-and-a-half years of hell I have had to endure because of the negligence and recklessness of Alex Jones and the propaganda he has peddled for his own profits and success,"" Heslin testified on Tuesday.A lawyer for Jones said he had already paid a price after being deplatformed in 2018 and losing millions of viewers.Jones has since acknowledged that the shooting took place. He was expected to take the stand later on Tuesday in his defense, a lawyer for the parents said.The defamation suit in Austin, Texas, where Infowars is based, is one of several brought by families of victims who say Jones's followers harassed them as a result of his false claims.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder, Howard Goller, Bradley Perrett and Mark PorterOur Standards: The Thomson Reuters Trust Principles.","Father of child killed in Sandy Hook says experienced ""hell"" because of Alex Jones' lies."
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.China considers Taiwan its territory and has increased military activity in the air and seas around it. Taiwan vows to defend itself and has made strengthening its defences a priority, with regular military and civil defence drills. read more The preparations include designating shelters where people can take cover if Chinese missiles start flying in, not in purpose-built bunkers but in underground spaces like basement car parks, the subway system and subterranean shopping centres.Register now for FREE unlimited access to Reuters.comThe capital of Taipei has more than 4,600 such shelters that can accommodate some 12 million people, more than four times its population.Harmony Wu, 18, was surprised to learn that an underground shopping concourse where she and other youngsters were recently rehearsing some dance moves would be turned into an air-raid shelter in the event of war.But she said she could understand why.""Having shelter is very necessary. We don't know when a war might come and they are to keep us safe,"" Wu said at the venue near a Taipei subway station.""War is brutal. We've never experienced it so we aren't prepared,"" she said.Taipei officials have been updating their database of designated shelters, putting their whereabouts on a smartphone app and launching a social media and poster campaign to make sure people know how to find their closest one.Shelter entrances are marked with a yellow label, about the size of an A4 piece of paper, with the maximum number of people it can take.A senior official in the city office in charge of the shelters said events in Europe had brought a renewed sense of urgency.""Look at the war in Ukraine,"" Abercrombie Yang, a director of the Building Administration Office, told Reuters.A person holds a booklet with illustrations of Taiwan armed forces and Chinese People's Liberation Army (PLA), during a first aid training in Taipei, Taiwan July 23, 2022. REUTERS/Ann Wang""There's no guarantee that the innocent public won't get hit,"" he said, adding that that was why the public had to be informed.""All citizens should have crisis awareness ... We need the shelters in the event of an attack by the Chinese communists.""'NOT STRESSED'Last month, Taiwan held a comprehensive air-raid exercise across the island for the first time since the coronavirus pandemic disrupted regular drills.Among the instructions citizens got in case of incoming missiles was to get down in their basement parking lots with their hands covering their eyes and ears while keeping their mouths open - to minimise the impact of blast waves.Some civil defence advocates say more needs to be done.Authorities are required by law to keep the shelters clean and open but they don't have to be stocked with supplies like food and water.Researchers in parliament called in June for shelters to be provided with emergency supplies.Wu Enoch of the ruling Democratic Progressive Party says the public must prepare survival kits to take with them when they seek shelter.""What's important is what you bring with you, for people to stay there for a long period of time,"" Wu said, citing medical supplies and even tools to build a makeshift toilet.After decade of sabre-rattling across the Taiwan Strait separating the democratic island from China, many Taiwan people appear resigned to living with the threat of a Chinese invasion.""I'm not stressed. I carry on with my life as usual. When it happens, it happens,"" said Teresa Chang, 17, who was also going through her paces at the underground dance practice.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Fabian Hamacher and Ann Wang; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.","From subway stations to shopping malls, Taiwan prepares its air-raid shelters."
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.China considers Taiwan its territory and has increased military activity in the air and seas around it. Taiwan vows to defend itself and has made strengthening its defences a priority, with regular military and civil defence drills. read more The preparations include designating shelters where people can take cover if Chinese missiles start flying in, not in purpose-built bunkers but in underground spaces like basement car parks, the subway system and subterranean shopping centres.Register now for FREE unlimited access to Reuters.comThe capital of Taipei has more than 4,600 such shelters that can accommodate some 12 million people, more than four times its population.Harmony Wu, 18, was surprised to learn that an underground shopping concourse where she and other youngsters were recently rehearsing some dance moves would be turned into an air-raid shelter in the event of war.But she said she could understand why.""Having shelter is very necessary. We don't know when a war might come and they are to keep us safe,"" Wu said at the venue near a Taipei subway station.""War is brutal. We've never experienced it so we aren't prepared,"" she said.Taipei officials have been updating their database of designated shelters, putting their whereabouts on a smartphone app and launching a social media and poster campaign to make sure people know how to find their closest one.Shelter entrances are marked with a yellow label, about the size of an A4 piece of paper, with the maximum number of people it can take.A senior official in the city office in charge of the shelters said events in Europe had brought a renewed sense of urgency.""Look at the war in Ukraine,"" Abercrombie Yang, a director of the Building Administration Office, told Reuters.A person holds a booklet with illustrations of Taiwan armed forces and Chinese People's Liberation Army (PLA), during a first aid training in Taipei, Taiwan July 23, 2022. REUTERS/Ann Wang""There's no guarantee that the innocent public won't get hit,"" he said, adding that that was why the public had to be informed.""All citizens should have crisis awareness ... We need the shelters in the event of an attack by the Chinese communists.""'NOT STRESSED'Last month, Taiwan held a comprehensive air-raid exercise across the island for the first time since the coronavirus pandemic disrupted regular drills.Among the instructions citizens got in case of incoming missiles was to get down in their basement parking lots with their hands covering their eyes and ears while keeping their mouths open - to minimise the impact of blast waves.Some civil defence advocates say more needs to be done.Authorities are required by law to keep the shelters clean and open but they don't have to be stocked with supplies like food and water.Researchers in parliament called in June for shelters to be provided with emergency supplies.Wu Enoch of the ruling Democratic Progressive Party says the public must prepare survival kits to take with them when they seek shelter.""What's important is what you bring with you, for people to stay there for a long period of time,"" Wu said, citing medical supplies and even tools to build a makeshift toilet.After decade of sabre-rattling across the Taiwan Strait separating the democratic island from China, many Taiwan people appear resigned to living with the threat of a Chinese invasion.""I'm not stressed. I carry on with my life as usual. When it happens, it happens,"" said Teresa Chang, 17, who was also going through her paces at the underground dance practice.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Fabian Hamacher and Ann Wang; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.","From subway stations to shopping malls, Taiwan prepares its air-raid shelters."
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.China considers Taiwan its territory and has increased military activity in the air and seas around it. Taiwan vows to defend itself and has made strengthening its defences a priority, with regular military and civil defence drills. read more The preparations include designating shelters where people can take cover if Chinese missiles start flying in, not in purpose-built bunkers but in underground spaces like basement car parks, the subway system and subterranean shopping centres.Register now for FREE unlimited access to Reuters.comThe capital of Taipei has more than 4,600 such shelters that can accommodate some 12 million people, more than four times its population.Harmony Wu, 18, was surprised to learn that an underground shopping concourse where she and other youngsters were recently rehearsing some dance moves would be turned into an air-raid shelter in the event of war.But she said she could understand why.""Having shelter is very necessary. We don't know when a war might come and they are to keep us safe,"" Wu said at the venue near a Taipei subway station.""War is brutal. We've never experienced it so we aren't prepared,"" she said.Taipei officials have been updating their database of designated shelters, putting their whereabouts on a smartphone app and launching a social media and poster campaign to make sure people know how to find their closest one.Shelter entrances are marked with a yellow label, about the size of an A4 piece of paper, with the maximum number of people it can take.A senior official in the city office in charge of the shelters said events in Europe had brought a renewed sense of urgency.""Look at the war in Ukraine,"" Abercrombie Yang, a director of the Building Administration Office, told Reuters.A person holds a booklet with illustrations of Taiwan armed forces and Chinese People's Liberation Army (PLA), during a first aid training in Taipei, Taiwan July 23, 2022. REUTERS/Ann Wang""There's no guarantee that the innocent public won't get hit,"" he said, adding that that was why the public had to be informed.""All citizens should have crisis awareness ... We need the shelters in the event of an attack by the Chinese communists.""'NOT STRESSED'Last month, Taiwan held a comprehensive air-raid exercise across the island for the first time since the coronavirus pandemic disrupted regular drills.Among the instructions citizens got in case of incoming missiles was to get down in their basement parking lots with their hands covering their eyes and ears while keeping their mouths open - to minimise the impact of blast waves.Some civil defence advocates say more needs to be done.Authorities are required by law to keep the shelters clean and open but they don't have to be stocked with supplies like food and water.Researchers in parliament called in June for shelters to be provided with emergency supplies.Wu Enoch of the ruling Democratic Progressive Party says the public must prepare survival kits to take with them when they seek shelter.""What's important is what you bring with you, for people to stay there for a long period of time,"" Wu said, citing medical supplies and even tools to build a makeshift toilet.After decade of sabre-rattling across the Taiwan Strait separating the democratic island from China, many Taiwan people appear resigned to living with the threat of a Chinese invasion.""I'm not stressed. I carry on with my life as usual. When it happens, it happens,"" said Teresa Chang, 17, who was also going through her paces at the underground dance practice.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Fabian Hamacher and Ann Wang; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.","From subway stations to shopping malls, Taiwan prepares its air-raid shelters."
"Politics August 2, 2022 / 10:53 AM / CBS News CBS News Live CBS News Live Live House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday, arriving for a controversial stop on her tour of Asian countries that has become a flashpoint amid rising tensions between the U.S. and China. Pelosi and other members of Congress emerged from a U.S. military jet that touched down Tuesday evening in Taipei, where they were greeted by a contingent of Taiwanese officials on the tarmac. The plane traveled from Kuala Lumpur on a flight path that avoided the South China Sea and the Chinese mainland, according to the tracking website FlightAware. Pelosi's trip to Taiwan has been cloaked in secrecy and stoked the ire of Beijing, which raised the prospect of a military response to the visit. The White House has said it had no control over Pelosi's decision to visit the island, and has insisted that there has been no change to U.S. policy toward Taiwan and the Chinese government. As the second in line for the presidency, Pelosi is the highest-ranking U.S. official to visit the island in 25 years. The California Democrat's history of pushback against Beijing dates back to 1991, when she displayed a pro-democracy banner in Tiananmen Square, defying Chinese officials.In a statement shortly after the plane landed, Pelosi said her visit was meant to honor ""America's unwavering commitment to supporting Taiwan's vibrant Democracy."" ""Our discussions with Taiwan leadership will focus on reaffirming our support for our partner and on promoting our shared interests, including advancing a free and open Indo-Pacific region,"" she said. ""America's solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy.""The speaker emphasized that the visit ""in no way contradicts longstanding United States policy"" toward Taiwan and China, and said the U.S. ""continues to oppose unilateral efforts to change the status quo.""A Taiwanese government official said Pelosi is expected to meet with President Tsai Ing-wen and members of the legislature in Taipei. She isn't expected to see the city's mayor, Ko Wen-je, who is chair of the pro-China Taiwan People's Party, and is expected to only meet with members of the DPP, or Democratic Progressive Party. The U.S. delegation is expected to stay Tuesday night in the capital and hold meetings throughout the day Wednesday before departing.The skyscraper Taipei 101, the island's iconic tallest building, flashed messages welcoming Pelosi to the capital ahead of her arrival Tuesday evening. The Taipei 101 building lit up with a message reading ""Speaker Pelosi"" as a welcome sign for House Speaker Nancy Pelosi's visit in Taipei, Taiwan, on Tuesday, Aug. 2, 2022. Bloomberg Beijing considers self-ruled Taiwan to be part of China, and Chinese officials have been warning they would regard Pelosi's visit as a major provocation. During a two-hour phone call with President Biden last week, Chinese President Xi Jinping demanded Pelosi cancel the trip. Earlier in July, Mr. Biden said U.S. military officials thought it was ""not a good idea"" for Pelosi to visit Taiwan right now. According to Reuters, Chinese foreign ministry spokesman Zhao Lijian said Monday its military would ""not sit idly by"" if Pelosi visited. During a daily briefing, Lijan said a visit by the ""No. 3 official of the U.S. government"" would ""lead to egregious political impact."" On Monday, National Security Council spokesman John Kirby confirmed Pelosi was traveling on a U.S. military aircraft, and he said she had been briefed on Taiwan. ""There have been direct conversations with the speaker and her staff before she left at various levels in the national security establishment,"" Kirby said, though he did not confirm any plans by her to travel to Taiwan. ""The president did not speak directly with the speaker about this trip.""Kirby said ""the speaker makes her own decisions"" when asked if the military still believed it was not a good idea for her to go. ""What we did was provide her context, analysis, facts, information, so that she could make the best decision possible for every stop for every overseas travel,"" Kirby added.But Kirby warned about China's ""saber rattling,"" including military provocations such as potentially firing missiles into the Taiwan Strait and large-scale air entry into Taiwan's air space. He also mentioned diplomatic escalations, like Beijing's public assertion last week that the Taiwan Strait is not an international waterway.""Some of these actions would continue concerning trend lines that we've seen in recent years, but some could be of a different scope and scale,"" Kirby said. ""Last time Beijing fired missiles into the Taiwan Strait was 1995 and 1996 after Beijing reacted provocatively to Taiwan's president's visit to deliver an address at his alma mater."" The split between Taiwan and the mainland government began in 1949, when Chinese nationalists fled to the island amid a civil war with the Chinese Communist Party. The Taiwanese government considers itself the legitimate government of China. Beijing views the island as a breakaway rogue state and part of its own territory. The U.S. recognized Beijing as the legitimate Chinese government in 1979 and does not support Taiwanese independence, but maintained informal ties with the government, following a policy of ""strategic ambiguity."" A 2018 law known as the Taiwan Travel Act made the U.S.-Taiwan relationship official, but below the level of formal diplomatic ties.Pelosi is not the first House speaker to visit Taiwan. Former Speaker Newt Gingrich, a Republican, visited in 1997. Other American officials have made low-profile visits to Taiwan to show support to the island, but Pelosi's visit has garnered much more attention.Ramy Inocencio, Nancy Cordes, Kathryn Krupnick and Rebecca Kaplan contributed reporting. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Pelosi lands in Taiwan amid high-pressure standoff with China.
"The TD bank logo is seen on top of the Toronto Dominion Canada Trust Tower in Toronto, Ontario, Canada March 16, 2017. Picture taken March 16, 2017. REUTERS/Chris Helgren/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Canada's Toronto Dominion Bank (TD.TO) said it will buy New York-based boutique investment bank Cowen Inc (COWN.O) for $1.3 billion in cash, seeking to boost its presence in the high-growth U.S market.The deal marks TD's second acquisition bid in the United States this year and the Canada's second-largest lender by market value has made no secret of its ambitions to expand in the world's biggest economy. TD will fund the acquisition from the $1.9 billion proceeds from the sale of shares of Charles Schwab , announced on Monday.Canada's major banks have been on a shopping spree south of the border in the past year, seeking growth away from home, where the Big Six banks control nearly 90% of the market. read more Register now for FREE unlimited access to Reuters.comNational Bank Financial analysts said the deal provides ""valuable diversification"" of TD's U.S. capital markets business, but flagged integration as a primary risk, saying it is ""notoriously difficult when involving investment banking operations with different cultures.""In February, TD said it would buy Memphis-based First Horizon Corp (FHN.N) for $13.4 billion in its biggest ever acquisition. read more Investors had already expressed concern around integration following the First Horizon deal. read more The Cowen deal values the target at $39 a share, a nearly 10% premium to its last closing price. Cowen shares rose 8.9% in morning trading in New York. TD shares slipped 1.3%.The transaction is ""modestly positive (for TD), especially given that it is on-strategy with the bank’s push into its U.S.-dollar platform,"" Credit Suisse Analyst Joo Ho Kim wrote in a note.On Monday, TD said it was selling 28.4 million shares of Schwab, reducing its ownership to about 12% from 13.4%. That stake was the result of Schwab's purchase of TD Ameritrade, of which TD owned 43%. TD said it has no current plans to sell more Schwab shares.TD expects pre-tax integration costs of about $450 million over three years, and revenue synergies of $300-350 million by the third year.TD must pay a termination fee of $42.25 million if it cancels the deal because of a recommendation change or another superior proposal.The deal is expected to close in the first quarter of 2023.Register now for FREE unlimited access to Reuters.comReporting by Nichola Saminather in Toronto and Manya Saini in Bengaluru; Editing by Aditya Soni and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Canada's TD Bank eyes further U.S. expansion with $1.3 bln Cowen purchase.
"World August 2, 2022 / 10:34 AM / AP Ukrainian fighters leave steel plant as Mariupol falls Ukrainian fighters leave steel plant as Mariupol falls 00:25 Russia's Supreme Court on Tuesday declared Ukraine's Azov Regiment a terrorist organization, a designation that could lead to terror charges against some of the captured fighters who made their last stand inside Mariupol's shattered steel plant.Scores of Azov fighters are being held by Moscow since their surrender in mid-May. Russian authorities have opened criminal cases against them, accusing them of killing civilians. The addition of terrorism charges could mean even longer prison sentences.In a statement, the Azov Regiment dismissed the high court ruling, accusing Russia of ""looking for new excuses and explanations for its war crimes."" It urged the U.S. and other countries to declare Russia a terrorist state. The Azov soldiers played a key part in the defense of Mariupol, holding out for weeks at the southern port city's steel mill despite punishing attacks from Russian forces. Ukraine's president hailed them and other defenders at the plant as heroes. Members of Ukraine's Azov Battalion regiment pray in Ukraine's second-biggest city of Kharkiv, March 11, 2022, following Russia's invasion of Ukraine. SERGEY BOBOK/AFP/Getty Moscow has repeatedly portrayed the Azov Regiment as a Nazi group and accused it of atrocities, though no evidence to back up those claims has been made public. In May, Russia's Prosecutor General's office filed a motion to designate the regiment a terrorist organization. The regiment, a unit within Ukraine's National Guard, has a checkered history. It grew out of a group called the Azov Battalion, formed in 2014 as one of many volunteer brigades assembled to fight Russia-backed separatists in eastern Ukraine.The Azov Battalion drew its initial fighters from far-right circles and elicited criticism for some of its tactics. Its current members have rejected accusations of extremism.The regiment's far-right origins have been seized on by the Kremlin as part of its effort to cast Russia's invasion as a battle against Nazi influence in Ukraine. Russian state media has repeatedly shown what it claimed to be Nazi insignias, literature and tattoos associated with the regiment.Last week, dozens of Ukrainian POWs, including defenders of the Mariupol plant, were killed in an explosion at a barracks at a penal colony in Olenivka, an eastern town controlled by pro-Russian separatists. Moscow and Kyiv have blamed each other for the blast, with Kyiv saying Russia blew up the barracks to cover up torture against the POWs. Documenting destruction on the frontlines of the war in Ukraine 03:20 Meanwhile, the first cargo ship to leave Ukraine since Russia invaded more than five months ago was off the coast of Bulgaria on Tuesday as it headed toward Istanbul and its final destination, Lebanon, putting to the test an agreement signed last month by Moscow and Kyiv to unblock Ukraine's agricultural exports and ease the global food crisis. An estimated 20 million tons of grain have been stuck in Ukraine since the start of war. The U.N.-brokered agreement to release the grain calls for the establishment of safe corridors through the mined waters outside Ukraine's ports.The Razoni, which set sail from the Black Sea port of Odesa on Monday with more than 26,000 tons of corn, was expected to reach Istanbul early Wednesday for inspection by Russian, Ukrainian, Turkish and U.N. officials. More ships from Ukraine are expected to follow.At Odesa alone, at least 16 more vessels, all blocked since Russia's invasion on Feb. 24, were waiting their turn, Ukrainian authorities said.Global food prices have been soaring in a crisis blamed on the war, global supply chain problems and COVID-19. While Ukraine — and Russia — are major world suppliers of wheat, barley, corn and sunflower oil, the agreement may not in itself make much of a dent in world hunger.Most of the grain stuck in Ukraine is to feed livestock, according to David Laborde, an expert at the International Food Policy Research Institute in Washington. Only 6 million tons is wheat, and just half of that is for human consumption, Laborde said. He said Monday's shipload is actually chicken feed.""A few ships leaving Ukraine is not going to be a game changer,"" he said.The departure of the ship came against a backdrop of continued fighting, especially in southern and eastern Ukraine. In: Ukraine Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Russia's Supreme Court declares Ukrainian steel plant defenders terrorists, paving way for possible longer sentences for captured fighters."
"A bottle of Molson Coors Brewing Co. Blue Moon brand beerTiffany Hagler-Geard | Bloomberg | Getty ImagesMolson Coors Beverage is seeing a split emerge among its customers as inflation hits their wallets: some beer drinkers are trading down, while others are still shelling out for pricier six-packs.Shares of the beverage company fell more than 10% in morning trading Tuesday as concerns about the uncertain macroeconomic environment weighed on the stock. The company reported second-quarter earnings and revenue roughly in line with Wall Street's estimates. CEO Gavin Hattersley told CNBC that the beer industry saw softening sales during the second quarter, which the company blamed for a 1.7% decline in its U.S. sales volume. But Molson Coors said it outpaced the broader industry in the United States, Canada and the United Kingdom during the period. Hattersley credited strong sales growth for pricier drinks like Blue Moon and Peroni beer, as well as strengthening demand for cheaper beers like Miller High Life and Keystone Light.A year ago, Molson Coors began trimming its portfolio of lower-priced beers to focus on more popular options. Some investors wanted the company to ditch the segment altogether and instead focus entirely on more expensive beers, which have performed better in recent years.""What some would regard as an Achilles heel, in the past, has positioned us perfectly at the moment,"" Hattersley said. ""Some of our competitors only operate in the premium space, which is obviously not a place I'd like to be as we're heading into what's clearly going to be tough times.""As Molson Coors' six-packs get more expensive, more consumers could trade down to its lower-priced options. The company raised its prices in the spring by nearly double its usual rate and is considering another round of hikes toward the end of 2022, according to Hattersley.Beer isn't the only industry seeing a split in behavior among consumers. Ferrari reported a record second quarter on Tuesday, fueled by soaring growth for its luxury cars. Delta Air Lines said the recovery of tickets for premium-class tickets has outpaced that of main cabin tickets. Chipotle Mexican Grill said high-income customers are visiting more frequently, while those making less than $75,000 a year aren't ordering its burritos as often.",Molson Coors stock falls as company cites split in consumer spending on beer.
"A delivery worker of Zomato, an Indian food-delivery startup, picks a food package from his bag to deliver it to a customer in Mumbai, India, July 13, 2021. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 2 (Reuters) - Uber Technologies (UBER.N) is the likely seller of a 7.8% stake in Indian food delivery firm Zomato (ZOMT.NS) being disposed of via a $373 million block deal on Wednesday, according to a source with direct knowledge of the matter.The offer size of 612 million shares worth $373 million is based on the lower end of a 48-54 rupee price range set for the block deal, a term sheet seen by Reuters stated, adding that would be at a 2.8%-13.6% discount to the latest close.Zomato and Uber did not immediately respond to a request for comment. Shares in Zomato rose 20% to 55.55 rupees on Tuesday.Register now for FREE unlimited access to Reuters.comBofA Securities is the sole bookrunner for the deal. The term sheet did not name the potential seller.On Monday, Zomato said it had recorded more orders and narrowed its loss for the June quarter to 1.86 billion rupees ($23.67 million) from 3.56 billion rupees a year earlier. read more Uber on Tuesday reported a net loss of $2.6 billion for second quarter of 2022, of which $1.7 billion was related to its equity investments, including its Zomato stake. read more Register now for FREE unlimited access to Reuters.comReporting by Aditya Kalraa and Aditi Shah in New Delhi, Chris Thomas in Bengaluru and M. Sriram in Mumbai; Editing by Shinjini Ganguli and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.","Uber likely seller of 7.8% stake in India's Zomato - source, term sheet."
"Politics August 2, 2022 / 10:53 AM / CBS News CBS News Live CBS News Live Live House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday, arriving for a controversial stop on her tour of Asian countries that has become a flashpoint amid rising tensions between the U.S. and China. Pelosi and other members of Congress emerged from a U.S. military jet after it touched down in Taipei on Tuesday evening local time, and they were greeted by a contingent of Taiwanese officials on the tarmac. The plane traveled from Kuala Lumpur on a flight path that avoided the South China Sea and the Chinese mainland, according to the website FlightAware. Pelosi's trip to Taiwan has been cloaked in secrecy and stoked the ire of Beijing, which raised the prospect of a military response to the visit. The White House has said it had no control over Pelosi's decision to visit the island, and has insisted that there has been no change to U.S. policy toward Taiwan and the Chinese government. As the second in line for the presidency, Pelosi is the highest-ranking U.S. official to visit the island in 25 years. The California Democrat's history of pushback against Beijing dates back to 1991, when she displayed a pro-democracy banner in Tiananmen Square, defying Chinese officials.In a statement shortly after the plane landed, Pelosi said her visit was meant to honor ""America's unwavering commitment to supporting Taiwan's vibrant Democracy."" ""Our discussions with Taiwan leadership will focus on reaffirming our support for our partner and on promoting our shared interests, including advancing a free and open Indo-Pacific region,"" she said. ""America's solidarity with the 23 million people of Taiwan is more important today than ever, as the world faces a choice between autocracy and democracy.""The speaker emphasized that the visit ""in no way contradicts longstanding United States policy"" toward Taiwan and China, and said the U.S. ""continues to oppose unilateral efforts to change the status quo.""A Taiwanese government official said Pelosi is expected to meet with President Tsai Ing-wen and members of the legislature in Taipei. She isn't expected to see the city's mayor, Ko Wen-je, who is chair of the pro-China Taiwan People's Party, and is expected to only meet with members of the DPP, or Democratic Progressive Party. The U.S. delegation is expected to stay Tuesday night in the capital and hold meetings throughout the day Wednesday before departing.The skyscraper Taipei 101, the island's iconic tallest building, flashed messages welcoming Pelosi to the capital ahead of her arrival Tuesday evening. The Taipei 101 building lit up with a message reading ""Speaker Pelosi"" as a welcome sign for House Speaker Nancy Pelosi's visit in Taipei, Taiwan, on Tuesday, Aug. 2, 2022. Bloomberg Beijing considers self-ruled Taiwan to be part of China, and Chinese officials have been warning they would regard Pelosi's visit as a major provocation. During a two-hour phone call with President Biden last week, Chinese President Xi Jinping demanded Pelosi cancel the trip. Earlier in July, Mr. Biden said U.S. military officials thought it was ""not a good idea"" for Pelosi to visit Taiwan right now. According to Reuters, Chinese foreign ministry spokesman Zhao Lijian said Monday its military would ""not sit idly by"" if Pelosi visited. During a daily briefing, Lijan said a visit by the ""No. 3 official of the U.S. government"" would ""lead to egregious political impact."" On Monday, National Security Council spokesman John Kirby confirmed Pelosi was traveling on a U.S. military aircraft, and he said she had been briefed on Taiwan. ""There have been direct conversations with the speaker and her staff before she left at various levels in the national security establishment,"" Kirby said, though he did not confirm any plans by her to travel to Taiwan. ""The president did not speak directly with the speaker about this trip.""Kirby said ""the speaker makes her own decisions"" when asked if the military still believed it was not a good idea for her to go. ""What we did was provide her context, analysis, facts, information, so that she could make the best decision possible for every stop for every overseas travel,"" Kirby added.But Kirby warned about China's ""saber rattling,"" including military provocations such as potentially firing missiles into the Taiwan Strait and large-scale air entry into Taiwan's air space. He also mentioned diplomatic escalations, like Beijing's public assertion last week that the Taiwan Strait is not an international waterway.""Some of these actions would continue concerning trend lines that we've seen in recent years, but some could be of a different scope and scale,"" Kirby said. ""Last time Beijing fired missiles into the Taiwan Strait was 1995 and 1996 after Beijing reacted provocatively to Taiwan's president's visit to deliver an address at his alma mater."" The split between Taiwan and the mainland government began in 1949, when Chinese nationalists fled to the island amid a civil war with the Chinese Communist Party. The Taiwanese government considers itself the legitimate government of China. Beijing views the island as a breakaway rogue state and part of its own territory. The U.S. recognized Beijing as the legitimate Chinese government in 1979 and does not support Taiwanese independence, but maintained informal ties with the government, following a policy of ""strategic ambiguity."" A 2018 law known as the Taiwan Travel Act made the U.S.-Taiwan relationship official, but below the level of formal diplomatic ties.Pelosi is not the first House speaker to visit Taiwan. Former Speaker Newt Gingrich, a Republican, visited in 1997. Other American officials have made low-profile visits to Taiwan to show support to the island, but Pelosi's visit has garnered much more attention.Ramy Inocencio, Nancy Cordes, Kathryn Krupnick and Rebecca Kaplan contributed reporting. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Pelosi lands in Taiwan amid high-pressure standoff with China.
"People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City.Spencer Platt | Getty ImagesThe New York State Department of Financial Services announced on Tuesday it has issued a $30 million penalty against Robinhood's crypto division.NYDFS, the government branch that's responsible for regulating financial services and products, alleged that Robinhood Crypto's anti-money laundering and cybersecurity program was inadequately staffed and did not have sufficient resources to address risks. It also alleged Robinhood's crypto division failed to timely transition from a manual transaction monitoring system to one more adequate for its user size and transaction volume.The $30 million penalty is NYDFS's first crypto-sector enforcement. Robinhood said last year that it was expecting to pay a $30 million settlement to NYDFS after a 2020 investigation focusing on anti-money laundering and cybersecurity-related issues.The regulator claimed Robinhood Crypto violated the law when, despite the alleged issues, it certified compliance with the department. Robinhood Crypto also allegedly breached consumer protection requirements when it failed to maintain a distinct and dedicated phone number on its website for consumer complaints.Robinhood Crypto will have to retain an independent consultant to evaluate its compliance with related regulations.""As its business grew, Robinhood Crypto failed to invest the proper resources and attention to develop and maintain a culture of compliance—a failure that resulted in significant violations of the Department's anti-money laundering and cybersecurity regulations,"" said NYDFS Superintendent Adrienne Harris.The fine is the latest in a slew of monetary penalties that regulators imposed on Robinhood. In 2020, Robinhood paid $65 million to settle an SEC probe over misleading customers. In 2021, the Financial Industry Regulatory Authority (FINRA) fined Robinhood $70 million for outages and misleading customers.""We are pleased the settlement in principle reached last year and previously disclosed in our public filings is now final,"" Cheryl Crumpton, associate general counsel of litigation and regulatory enforcement at Robinhood, said on Tuesday.The company has made ""significant progress"" in building its legal, compliance and cybersecurity programs, Crumpton added.",Robinhood's crypto division fined $30 million by New York financial regulator.
"Politics August 2, 2022 / 10:53 AM / CBS News CBS News Live CBS News Live Live House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday, arriving for a controversial stop on her tour of Asian countries that has become a flashpoint amid rising tensions between the U.S. and China. Pelosi emerged from a U.S. military jet after it touched down in Taipei on Tuesday evening local time and was greeted by a contingent of Taiwanese officials on the tarmac. The plane traveled from Kuala Lumpur on a flight path that avoided the South China Sea and the Chinese mainland, according to the website FlightAware. Pelosi's trip to Taiwan has been cloaked in secrecy and stoked the ire of Beijing, which raised the prospect of a military response to the visit. The White House has said it had no control over Pelosi's decision to visit the island, and has insisted that there has been no change to U.S. policy toward Taiwan and the Chinese government. Earlier this week, Pelosi's office only confirmed four countries she would visit in Asia: Singapore, Malaysia, South Korea and Japan. As second in line for the presidency, Pelosi is the highest-ranking U.S. official to visit the island in 25 years. The California Democrat's history of pushback against Beijing dates back to 1991, when she displayed a pro-democracy banner in Tiananmen Square, defying Chinese officials. A Taiwanese government official said Pelosi is expected to meet with President Tsai Ing-wen and members of the legislature in Taipei. She isn't expected to see the city's mayor, Ko Wen-je, who is chair of the pro-China Taiwan People's Party, and is expected to only meet with members of the DPP, or Democratic Progressive Party. The U.S. delegation is expected to stay Tuesday night in the capital and hold meetings throughout the day Wednesday before departing.The skyscraper Taipei 101, the island's iconic tallest building, flashed messages welcoming Pelosi to the capital ahead of her arrival Tuesday evening. The Taipei 101 building lit up with a message reading ""Speaker Pelosi"" as a welcome sign for House Speaker Nancy Pelosi's visit in Taipei, Taiwan, on Tuesday, Aug. 2, 2022. Bloomberg Beijing considers self-ruled Taiwan to be part of China, and Chinese officials have been warning they would regard Pelosi's visit as a major provocation.During a two-hour phone call with President Biden last week, Chinese President Xi Jinping demanded Pelosi cancel the trip. Earlier in July, Mr. Biden said U.S. military officials thought it was ""not a good idea"" for Pelosi to visit Taiwan right now.  According to Reuters, Chinese foreign ministry spokesman Zhao Lijian said Monday its military would ""not sit idly by"" if Pelosi visited. During a daily briefing, Lijan said a visit by the ""No. 3 official of the U.S. government"" would ""lead to egregious political impact."" On Monday, National Security Council spokesman John Kirby confirmed Pelosi was traveling on a U.S. military aircraft, and he said she had been briefed on Taiwan. ""There have been direct conversations with the speaker and her staff before she left at various levels in the national security establishment,"" Kirby said, though he did not confirm any plans by her to travel to Taiwan. ""The president did not speak directly with the speaker about this trip.""Kirby said ""the speaker makes her own decisions"" when asked if the military still believed it was not a good idea for her to go. ""What we did was provide her context, analysis, facts, information, so that she could make the best decision possible for every stop for every overseas travel,"" Kirby added.But Kirby warned about China's ""saber rattling,"" including military provocations such as potentially firing missiles into the Taiwan Strait and large-scale air entry into Taiwan's air space. He also mentioned diplomatic escalations, like Beijing's public assertion last week that the Taiwan Strait is not an international waterway.""Some of these actions would continue concerning trend lines that we've seen in recent years, but some could be of a different scope and scale,"" Kirby said. ""Last time Beijing fired missiles into the Taiwan Strait was 1995 and 1996 after Beijing reacted provocatively to Taiwan's president's visit to deliver an address at his alma mater.""The split between Taiwan and the mainland government began in 1949, when Chinese nationalists fled to the island amid a civil war with the Chinese Communist Party. The Taiwanese government considers itself the legitimate government of China. Beijing views the island as a breakaway rogue state and part of its own territory.  The U.S. recognized Beijing as the legitimate Chinese government in 1979 and does not support Taiwanese independence, but maintained informal ties with the government, following a policy of ""strategic ambiguity."" A 2018 law known as the Taiwan Travel Act made the U.S.-Taiwan relationship official, but below the level of formal diplomatic ties.Pelosi is not the first House speaker to visit Taiwan. Former Speaker Newt Gingrich, a Republican, visited in 1997. Other American officials have made low-profile visits to Taiwan to show support to the island, but Pelosi's visit has garnered much more attention.Ramy Inocencio, Nancy Cordes, Kathryn Krupnick and Rebecca Kaplan contributed reporting. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Pelosi lands in Taiwan amid high-pressure standoff with China.
"A ""For Sale"" sign outside a house in Albany, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade.Joe Raedle | Bloomberg | Getty ImagesHousehold debt climbed past $16 trillion in the second quarter for the first time, as soaring inflation pushed up housing and auto balances, the New York Federal Reserve reported Tuesday.The collective American IOU totaled $16.15 trillion through the end of June, good for a $312 billion — or 2% — increase from the previous quarter. Debt gains were widespread but particularly focused on mortgages and vehicle purchases.""Americans are borrowing more, but a big part of the increased borrowing is attributable to higher prices,"" the New York Fed said in a blog post accompanying the release.Mortgage balances rose 1.9% for the quarter, or $207 billion, to about $11.4 trillion, even though the pace of originations moved lower. That annual increase marked a 9.1% gain from a year ago as home prices exploded during the pandemic era.Credit card balances surged $46 billion in the three-month period and 13% over the past year, which Fed researchers said was the largest gain in more than 20 years. Non-housing credit balances increased 2.4% from the first quarter, the biggest gain since 2016.Student loan debt was little changed at $1.59 trillion.The increase in borrowing comes with inflation running at an 8.6% annual rate in the second quarter that included a 9.1% increase in June — the biggest move since November 1981 — according to the Bureau of Labor Statistics. Shelter inflation rose at a 5.5% annual rate in June and new and used vehicle prices were up 11.4% and 7.1% respectively.In response to the elevated inflation levels, the Fed has raised interest rates four times in 2022, with the increases totaling 2.25 percentage points. Those moves in turn have pushed up 30-year mortgage rates to 5.41%, up more than 2 percentage points from the beginning of the year, according to Freddie Mac.Despite the rising debt and inflation levels and higher interest rates, delinquency rates remained relatively benign.""Although debt balances are growing rapidly, households in general have weathered the pandemic remarkably well, due in no small part to the expansive programs put in place to support them,"" the Fed blog post said. ""Further, household debt is held overwhelmingly by higher-score borrowers, even more so now than it has been in the history of our data.""Through June, some 2.7% of outstanding debt was in delinquency, nearly 2 percentage points lower than the first quarter of 2020 as the nation was entering the Covid pandemic.Fed economists noted that delinquency rates were nudging higher for subprime borrowers at the lower end of the credit scale.","Household debt tops $16 trillion for the first time, fueled by higher inflation and interest rates."
"Car dealerships have been mom and pop businesses for much of their existence. But the industry is slowly consolidating.Six publicly traded dealership groups — AutoNation, Lithia Motors, Group 1 Automotive, Sonic Automotive, Penske, and Asbury Automotive Group — have been on a shopping spree in recent years, buying up a small but growing share of dealerships. And they've been wildly profitable.Circumstances have been especially positive in the past couple of years. New car prices have hit record highs with parts in short supply and automobiles in high demand, especially for Americans who moved to suburban areas during the Covid-19 pandemic and needed their personal vehicles for their main mode of transportation.The trials of the pandemic also forced dealers to become a lot more efficient. As a result, dealers have been raking in higher profits on every unit sold.Companies such as the two biggest firms, AutoNation and Lithia Motors, have been, respectively, buying back massive amounts of stock and investing into more acquisitions and other businesses, such as online retail architecture.But they could face a tough, uphill climb ahead. Consumers are getting increasingly frustrated by the dealers' high sticker prices and there are other buying options: popular car brands such as Tesla, Rivian and others are selling cars direct to the consumer and more motorists are buying cars online. But these publicly traded groups do have a lot of opportunity to expand further despite these factors. Currently, they only control a small share of the market of more than 16,000 dealerships.Watch the video to learn more.",These are the companies racing to dominate the fragmented auto dealership industry.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesNow expects 2022 EBITDA around $37 bln versus $30 bln previouslyQ2 revenue $21.7 bln (forecast: $19.7 bln)Q2 underlying EBITDA $10.3 bln (forecast: $8.2 bln)Shares up 1.1%COPENHAGEN, Aug 2 (Reuters) - Maersk (MAERSKb.CO) raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in key ports in China, Europe and the United States.""Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated,"" Maersk said in a statement.Register now for FREE unlimited access to Reuters.comIt now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of around $37 billion versus the $30 billion it forecast earlier. Maersk had initially expected full-year EBITDA at $24 billion.The new guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year. read more The Copenhagen-based company is often seen as a barometer for global trade as it transports goods for retailers and consumer companies such as Walmart, Nike and Unilever.Electrolux, Europe's biggest home appliances maker, last month missed second-quarter profit expectations in part due to supply chain problems, but said the supply chain situation looked better for the third and fourth quarters. read more Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave/German shipping company Hapag-Lloyd (HLAG.DE) last week also raised its earnings outlook for 2022.Maersk, one of the world's biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures. read more Shares in Maersk were trading up 1.1% at 0825 GMTafter touching their highest levels since early June.Revenue in the second quarter stood at $21.7 billion, it said, above the $19.7 billion forecast by analysts in a poll gathered by the company.Underlying EBITDA was $10.3 billion, compared to the $8.2 billion forecast by analysts.""The strong result is driven by the continuation of the exceptional market situation within ocean (container shipping),"" the company said.Maersk is due to publish a full set of results for the second quarter on August 3.Register now for FREE unlimited access to Reuters.comReporting by Jacob Gronholt-Pedersen; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",Maersk sees global supply chain woes for longer; lifts 2022 guidance.
"Politics August 2, 2022 / 10:53 AM / CBS News CBS News Live CBS News Live Live House Speaker Nancy Pelosi landed in Taiwan's capital of Taipei on Tuesday, arriving for a controversial stop on her tour of Asian countries that has become a flashpoint amid rising tensions between the U.S. and China. A U.S. military jet carrying Pelosi and other members of Congress touched down Tuesday evening local time, arriving from Kuala Lumpur on a flight path that took the plane far from the South China Sea and the Chinese mainland, according to the website FlightAware. Pelosi's trip to Taiwan has been cloaked in secrecy and stoked the ire of Beijing, which raised the prospect of a military response to the visit. The White House has said it had no control over Pelosi's decision to visit the island, and has insisted that there has been no change to U.S. policy toward Taiwan and the Chinese government. Earlier this week, Pelosi's office only confirmed four countries she would visit in Asia: Singapore, Malaysia, South Korea and Japan. A Taiwanese government official said Pelosi is expected to meet with President Tsai Ing-wen and members of the legislature in Taipei. She isn't expected to see the city's mayor, Ko Wen-je, who is chair of the pro-China Taiwan People's Party, and is expected to only meet with members of the DPP, or Democratic Progressive Party. The U.S. delegation is expected to stay Tuesday night in the capital and hold meetings throughout the day Wednesday before departing. The skyscraper Taipei 101, the island's iconic tallest building, flashed messages welcoming Pelosi to the capital ahead of her arrival Tuesday evening. The Taipei 101 building lit up with a message reading ""Speaker Pelosi"" as a welcome sign for House Speaker Nancy Pelosi's visit in Taipei, Taiwan, on Tuesday, Aug. 2, 2022. Bloomberg Beijing considers self-ruled Taiwan to be part of China, and Chinese officials have been warning they would regard Pelosi's visit as a major provocation.During a two-hour phone call with President Biden last week, Chinese President Xi Jinping demanded Pelosi cancel the trip. Earlier in July, Mr. Biden said U.S. military officials thought it was ""not a good idea"" for Pelosi to visit Taiwan right now. According to Reuters, Chinese foreign ministry spokesman Zhao Lijian said Monday its military would ""not sit idly by"" if Pelosi visited. During a daily briefing, Lijan said a visit by the ""No. 3 official of the U.S. government"" would ""lead to egregious political impact.""  On Monday, National Security Council spokesman John Kirby confirmed Pelosi was traveling on a U.S. military aircraft, and he said she had been briefed on Taiwan. ""There have been direct conversations with the speaker and her staff before she left at various levels in the national security establishment,"" Kirby said, though he did not confirm any plans by her to travel to Taiwan. ""The president did not speak directly with the speaker about this trip.""Kirby said ""the speaker makes her own decisions"" when asked if the military still believed it was not a good idea for her to go. ""What we did was provide her context, analysis, facts, information, so that she could make the best decision possible for every stop for every overseas travel,"" Kirby added.But Kirby warned about China's ""saber rattling,"" including military provocations such as potentially firing missiles into the Taiwan Strait and large-scale air entry into Taiwan's air space. He also mentioned diplomatic escalations, like Beijing's public assertion last week that the Taiwan Strait is not an international waterway.""Some of these actions would continue concerning trend lines that we've seen in recent years, but some could be of a different scope and scale,"" Kirby said. ""Last time Beijing fired missiles into the Taiwan Strait was 1995 and 1996 after Beijing reacted provocatively to Taiwan's president's visit to deliver an address at his alma mater.""The split between Taiwan and the mainland government began in 1949, when Chinese nationalists fled to the island amid a civil war with the Chinese Communist Party. The Taiwanese government considers itself the legitimate government of China. Beijing views the island as a breakaway rogue state and part of its own territory. The U.S. recognized Beijing as the legitimate Chinese government in 1979 and does not support Taiwanese independence, but maintained informal ties with the government, following a policy of ""strategic ambiguity."" A 2018 law known as the Taiwan Travel Act made the U.S.-Taiwan relationship official, but below the level of formal diplomatic ties. Pelosi is not the first House speaker to visit Taiwan. Former Speaker Newt Gingrich, a Republican, visited in 1997. Other American officials have made low-profile visits to Taiwan to show support to the island, but Pelosi's visit has garnered much more attention.Ramy Inocencio, Nancy Cordes and Kathryn Krupnick contributed reporting. In: Taiwan Nancy Pelosi China Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Pelosi lands in Taiwan amid high-pressure standoff with China.
"Monitors display the stock market numbers in the financial district in Toronto, Ontario, Canada March 16, 2020. REUTERS/Carlos Osorio
Register now for FREE unlimited access to Reuters.comSummaryCompaniesTD Bank to buy U.S. brokerage Cowen in $1.3 bln dealAir Canada raises annual cost forecast, misses earningsCanadian factory activity grows at slowest pace in two yearsTSX falls 0.9%Aug 2 (Reuters) - Canada's main stock index tracked losses in commodity shares on Tuesday, with a slowdown in manufacturing activity last month and tensions between the United States and China over U.S. House Speaker Nancy Pelosi's expected visit to Taiwan denting sentiment.At 10:13 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) was down 173.01 points, or 0.88%, at 19,519.91, amid a broader risk-off mood across the global markets on concerns that Pelosi's trip to Taiwan could worsen tensions between Beijing and the Washington.The energy sector (.SPTTEN) and the materials sector (.GSPTTMT) dropped 2.6% and 0.7%, respectively, tracking weakness in commodity prices as Sino-U.S. tensions and weak factory data across the United States, Europe and Asia on Monday pushed investors to safer assets.Register now for FREE unlimited access to Reuters.comIn Canada, data showed production and new orders declined for the first time since the early stages of the coronavirus pandemic. read more ""Businesses have right now shrunk down with rising labor costs and higher interest rates. You can't keep expanding, you can't keep hiring and you can't keep growing the business when conditions are not favorable,"" said Allan Small, senior investment advisor at Allan Small Financial Group.The financials sector (.SPTTFS) slipped 1.1%, while industrial stocks (.GSPTTIN) fell 0.9%.Meanwhile, Air Canada (AC.TO) dipped 1.2% after missing on earnings and forecasting higher full-year expenses. read more Toronto Dominion Bank (TD.TO) fell 1.2% on announcing it will buy New York-based boutique investment bank Cowen (COWN.O) to boost its presence in the high-growth U.S market. read more Register now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar and Johann M Cherian in Bengaluru; Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.","Toronto index falls on losses in commodity shares, U.S.-China tensions."
"A man walks past a ""We Are Hiring"" sign in New York City on July 8, 2022.Angela Weiss | AFP | Getty ImagesJob openings plunged in June to their lowest level since September 2021 in a potential sign that a historically tight labor market is starting to slow.The total of employment vacancies fell to about 10.7 million through the last day of June, a decline of 605,000 or 5.4%, according to the Job Openings and Labor Turnover Survey released Tuesday by the Bureau of Labor Statistics.Markets had been looking for openings of 11.14 million, according to FactSet.Even with the sharp decline, there were still 1.8 open jobs per available worker, with the total difference at nearly 4.8 million.Hiring also slowed during the month, dropping 2% to 6.37 million, while the level of quits, an indicator of worker mobility and confidence, was little changed but well off record levels seen earlier this year. Separations also edged lower, falling by 1.4% to 5.93 million.Federal Reserve officials watch the JOLTs numbers closely as they assess the future path of the labor market and how that might influence interest rates. The Fed has enacted four interest rate increases this year totaling 2.25 percentage points in an effort to control inflation that has run at its fastest rate since November 1981.Nonfarm payrolls rose by 372,000 in June and the unemployment rate held at 3.6%. July's numbers will be out Friday, with economists surveyed by Dow Jones are looking for an increase of 258,000.",Job openings fell sharply in June as labor market shows signs of slowing.
"A man walks past TSMC's logo at the company's headquarters in Hsinchu, Taiwan.Sam Yeh | AFP | Getty ImagesIf China were to invade Taiwan, then the most-advanced chip factory in the world would be rendered inoperable, TSMC Chairman Mark Liu said in an English-language interview with CNN this week.In the undated interview, Liu said that if Taiwan were invaded by China, the chip manufacturer's plant would not be able to operate because it relies on global supply chains.""Nobody can control TSMC by force. If you take a military force or invasion, you will render TSMC factory non-operable,"" Liu said. ""Because this is such a sophisticated manufacturing facility, it depends on real-time connection with the outside world, with Europe, with Japan, with U.S., from materials to chemicals to spare parts to engineering software and diagnosis.""TSMC is the world's most advanced chip manufacturer which makes processors for American companies including Apple and Qualcomm. TSMC manufactures Apple's A-series and M-series chips and has over 50% of the world's semiconductor foundry market.The remarks were aired as tensions between China and Taiwan have escalated in recent days as House Speaker Nancy Pelosi visits the island nation.""The war brings no winners, everybody's losers,"" Liu said.Last week, the House of Representatives passed the Chips and Science Act, which sets aside billions of dollars in incentives to build chip factories on U.S. soil. President Biden is expected to sign the bill on Tuesday.Backers of the legislation say it is critical for national security to secure the supply of efficient and modern chips for U.S. usage if China were to invade or otherwise make it more difficult to manufacture chips in Taiwan.While much of the bill's incentives will go to American companies like Intel, TSMC is building a $12 billion fab in Arizona that could benefit from the subsidies.Liu compared a potential conflict in Taiwan to Russia's invasion of Ukraine earlier this year, saying that while the two conflicts are very different, the economic impact to other countries would be similar. He encouraged political leaders to try to avoid war.""Ukraine war is not good for any of the sides, it's lose-lose-lose scenarios,"" Liu said.Liu said an invasion would cause economic turmoil for China, Taiwan and western countries. He said that TSMC sells chips to consumer-facing Chinese companies that need TSMC's services and the supply of advanced computer chips.""How can we avoid war? How can we ensure that the engine of the world economy continues humming, and let's have a fair competition,"" Liu said.",Apple chip manufacturer TSMC warns Taiwan-China war would make everybody losers.
"MoneyWatch August 2, 2022 / 10:32 AM / CBS/AP Breaking down the U.S. economy's mixed signals Breaking down the U.S. economy's mixed signals 07:14 American employers posted fewer job openings in June as the economy contends with raging inflation and rising interest rates.Job openings fell to a still-high 10.7 million in June from 11.3 million in May, the Labor Department said Tuesday. In its monthly Job Openings and Labor Turnover Survey, the Labor Department said that the number of Americans quitting their jobs fell slightly in June while layoffs fell.""This data points to an inflection reached in the number of job openings after 6 months in a row above 11 [million],"" Peter Boockvar, chief investment officer with Bleakley Financial Group, said in a report.  The job market has been resilient so far this year: Employers have added an average of 457,000 a jobs a month in 2022; and unemployment is near a 50-year low. That is one reason many economists believe the economy is not yet in a recession even though gross domestic product, the broadest measure of economic output, has contracted for two quarters in a row — one rule of thumb for the onset of a downturn. U.S. economy shrinks again, raising recession fears 02:40 Yet some analysts say that job growth alone is an unreliable indicator of a downturn, noting that hiring often remains strong in the early stages of a recession.  For example, in the three months immediately preceding the housing crash-induced recession that started in December 2007, the Labor Department's monthly payrolls survey showed the economy gaining nearly 300,000 jobs per month, Albert Edwards of Societe Generale Cross Asset Research points out in a report.The Labor Department's jobs report for July, out Friday, is expected to show that employers tacked on another 250,000 jobs last month, which would be a healthy number in normal times but would be the lowest since December 2020. Economists also expect that unemployment stayed at 3.6% for the fifth straight month, according to a survey by the data firm FactSet. In: Employment Economy Gas Prices Inflation Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Job openings fall as the U.S. economy shrinks.
"U.S. House of Representatives Speaker Nancy Pelosi and Malaysia's Parliament Speaker Azhar Azizan Harun pose for photographs during their meeting at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Famer Roheni/Handout via REUTERS Register now for FREE unlimited access to Reuters.comKUALA LUMPUR, Aug 2 (Reuters) - A U.S. Air Force plane that may include House of Representatives Speaker Nancy Pelosi among its passengers entered the final leg of its journey to Taiwan after departing from Malaysia and taking an extended route that skirted the South China Sea.Reuters could not immediately establish if Pelosi or her delegation were on flight SPAR19. Pelosi did not confirm if she was visiting the self-governed island, which Beijing claims as its own, but sources earlier told Reuters she was expected to arrive in Taiwan's capital Taipei later on Tuesday. read more The plane left Malaysia's capital Kuala Lumpur at 3:42 p.m. (0742 GMT) on Tuesday and flew east toward Borneo on a route that skirted the South China Sea.Register now for FREE unlimited access to Reuters.comIt was last seen north of the Philippines, according to Flightradar24, in the tracking site's most followed flight on Tuesday.Since last week, China's People's Liberation Army has conducted various exercises, including live-fire drills, in the South China Sea, Yellow Sea and Bohai Sea, in a show of Chinese military might.A visit to Taiwan by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.As of 1354 GMT, SPAR19 was about 500 km (310 miles) southeast of Taipei in a journey that has so far lasted more than five hours, according to Flightradar24, on a flight tracked by as many as 300,000 people on its website earlier in the day.A normal flight from Kuala Lumpur to Taiwan's capital of Taipei would cross the South China Sea, with a typical flight time of under five hours.Register now for FREE unlimited access to Reuters.comReporting by Ebrahim Harris and Rozanna Latiff in Kuala Lumpur and Ryan Woo in Beijing; Additional reporting by Neil Jerome Morales in Manila; Editing by Martin Petty, William Maclean, Will Dunham and Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",U.S. Air Force plane headed for Taiwan after South China Sea detour.
"Uber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever.Shares of Uber were up 14% after markets opened.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. But CEO Dara Khosrowshahi said in a prepared statement that Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services. The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. ""Driver engagement reached another post-pandemic high in Q2, and we saw an acceleration in both active and new driver growth in the quarter,"" Khosrowshahi said in prepared remarks. ""Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber. Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia.""Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Khosrowshahi said on a call with investors that new driver sign-ups were up 76% year over year. He said over 70% of drivers said inflation and cost of living played a part in their decision to join Uber.""The most obvious effect of inflation seems to be getting more drivers on the platform,"" Khosrowshahi said on CNBC's ""Squawk on the Street.""Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.","Uber reports another big loss but beats on revenue, shares pop 14%."
"A model of Boeing 777 airliner is seen displayed at the China International Aviation and Aerospace Exhibition, or Airshow China, in Zhuhai, Guangdong province, China September 28, 2021. REUTERS/Aly SongRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - The Federal Aviation Administration (FAA) on Tuesday issued an airworthiness directive for all Boeing (BA.N) 777 airplanes over safety concerns.The directive was prompted by high electrical resistance within the gust suppression sensor because of corrosion. The FAA said the gust suppression function is a non-essential feature that provides a minor improvement to ride quality during lateral wind gusts at low airspeeds.Airlines must disable the gust suppression function within three months or before 75,000 total flight hours. The directive requires disconnecting connectors and capping and stowing wires attached to affected modules.Register now for FREE unlimited access to Reuters.comReporting by David ShepardsonOur Standards: The Thomson Reuters Trust Principles.",U.S. FAA issuing new safety directive on Boeing 777 airplanes.
"Instagram CEO Adam MosseriElizabeth Frantz | ReutersInstagram chief Adam Mosseri is relocating from San Francisco to London, in a bid to boost parent company Meta's ambition to lure users away from TikTok as it grapples with a slump in users.Mosseri will move to London later this year, and the move will be temporary, a Meta spokesperson confirmed to CNBC. The news was first reported by the Financial Times.London is Meta's largest engineering hub outside the U.S., with more than 4,000 employees, including a dedicated Instagram product team and roles focused on developing services for creators. It's also where the company's Workplace messaging app was first developed.Meta said Mosseri would assist the company's creator team on the ground in London, which is focused on helping certain users make money from their posts and countering the rapid rise of TikTok. The company is attempting to reposition itself as a group of platforms that enables e-commerce in an online universe known as the ""metaverse,"" rather than simply a tool for advertisers to target people digitally.Meta has struggled to convince investors of its pivot to the metaverse, with shares of the company slumping more sharply than Big Tech peer Alphabet amid a broader downturn in tech stocks, and as its apps lose ground to Chinese-owned TikTok. The firm reported its first-ever decline in revenues in the second quarter and gave weak guidance for the following quarter. Its push into the metaverse has proven costly, with the virtual reality division losing $2.8 billion in the three months to June.To counter TikTok's wild growth, Meta has sought to mimic the platform with tweaks to its own apps, including the creation of its own short-video feature called ""Shorts."" The company also made some controversial changes to Instagram prioritizing algorithmically generated content over posts from friends. The move led to a backlash from users, including Kim Kardashian.Mosseri's move could be viewed as an attempt to charm regulators in the U.K. The government wants to grant the media watchdog Ofcom more powers to police Instagram and other social media platforms through a new law called the Online Safety Bill. However, the bill's progress has been thrown into disarray due to the resignation of Prime Minister Boris Johnson and the subsequent search for a new leader.It also signals a broader push from Meta into remote working. Amid the coronavirus pandemic, Meta CEO Mark Zuckerberg stood out as one of the biggest advocates of telecommuting among Silicon Valley leaders. In 2020, he began allowing certain employees to work from home permanently, before later extending the policy to cover all employees. The company also developed an app called Horizon Worlds that lets people hold team meetings through its virtual reality headsets.",Instagram boss Adam Mosseri to move to London as Meta tries to counter TikTok's rise.
"Uplift August 2, 2022 / 9:47 AM / CBS News Nichelle Nichols dies at 89 Trailblazing ""Star Trek"" star Nichelle Nichols dies at 89 00:33 ""I knew this was going to be difficult to talk about her,"" Sonequa Martin-Green said, tears in her eyes. The ""Star Trek"" actress was talking about the late Nichelle Nichols, who broke barriers on the same show more than five decades earlier. ""She's very much 1,000% actually a hero.""Nichols died this week at the age of 89. She was one of the first Black actresses to star in a television series, paving the way for countless others. But for Martin-Green, the connection to Nichols runs deep. Martin-Green plays Michael Burnham, the first Black female captain in ""Star Trek"" history – something that might not have been possible without Nichols' role before her. There are many parallels between Nichols and Martin-Green – from their historic roles on ""Star Trek"" to their advocacy work for women and girls in STEM. Getty Not only did Nichols inspire her as an actor, but as an advocate for women and girls, especially in science, technology, engineering and mathematics fields – also known as STEM.  After ""Star Trek,"" Nichols dedicated her time to recruiting women and people of color to apply to be astronauts at NASA.Decades later, Martin-Green is working to help women and girls in STEM too. She has partnered with Million Girls Moonshot, an organization that aims to get 1 million more girls into STEM learning opportunities and programs. Frito-Lay has donated $100,000 to further the program's mission, and to send girls to Space Camp. Martin-Green surprised 16 girls, the first group that the organization is sending to Space Camp, presenting them with ceremonial stars named after them. ""I was so excited for them to see my face and see my love and support for them,"" she said. ""I really hope this is an experience that they carry with them, something that they always remember. I hope it sets them on their path."" Sonequa Martin-Green remembered late ""Star Trek"" actress Nichelle Nichols with tears in her eyes. ""She's very much 1000% actually a hero,"" she said. CBS News ""There's such a dearth of women in STEM careers and especially Black women, Latina women, Indigenous women, it's 10 percent in STEM careers today,"" Martin-Green told CBS News. ""So, we need more of us out there and that's why I jumped at the opportunity to do this.""Martin-Green said programs like this that aim to recruit girls wouldn't be possible without Nichols. ""It's all because of her, really. Because she's the one that helped integrate NASA way back then,"" she said, crying at the thought of Nichols. ""She's the one that said, 'Wait a second, I don't see what I need to be seeing. I don't see equality here.' And she dedicated the rest of her life to it — from 1977 to 2015 — to establishing these programs in NASA,"" Martin-Green said. ""And now here we are, and these girls can have this experience. And I'm grateful to be a part of it.""  Now, Martin-Green hopes to continue Nichols' legacy – on and off screen. ""I know she said when she was still here, 'If I've inspired you at all, I just ask that you continue this legacy.' So, of course now all of us that have been inspired by her. And I hope these girls can do that too.""  Caitlin O'Kane Caitlin O'Kane is a digital content producer covering trending stories for CBS News and its good news brand, The Uplift. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Nichelle Nichols advocated for women and people of color in STEM. Now, ""Star Trek"" actress Sonequa Martin-Green is continuing her legacy."
"In June 2012, at 34 years old and after 13 years of working in investment banking, I wanted out. So I decided to negotiate a severance, retire early, and live off passive income through my rental properties, stock dividends and e-book sales.But just one year in, I realized that the life of travel and leisure I thought I wanted wasn't for me. I found myself bored and felt a loss of identity. I needed an outlet and wanted to do work that I was personally invested in.While it's been more than 10 years since I stopped working full-time, I wouldn't say I'm retired. Instead, I refer to myself as a ""fake retiree"" because I ended up taking on some side hustles to fill my time.Here are six surprising lessons I learned after 10 years of being ""fake retired"":1. There's no shame in being ""fake retired.""I've shared a lot about my early retirement journey, and one of the biggest pushbacks I get from readers goes something like: ""You're still doing some sort of work and getting money in return, so you're not actually retired.""That's a fair point, which is why I think more people should embrace the term ""fake retirement."" Many of us early retirees are writing blog posts, recording videos, creating e-courses, writing books or selling art. I still run my blog Financial Samurai, and I just spent two years working on my personal finance book, ""Buy This, Not That.""A lot of early retirees are working harder than ever by building their online businesses, even if it's just a short-term passion project. The extra money they earn might not be a necessity, but it's a nice bonus.By proclaiming myself a ""fake retiree,"" I'm owning the criticism. Yes, I could sit on the beach and drink piña coladas all day if I wanted to. But I don't. I want to work and be productive during the week, which for me is about two to three hours a day.2. Your financial needs will evolve—and likely grow—over time.When I retired, I was happy with my $80,000 per year in passive income. But in 2015, my wife joined me in early retirement. We calculated that we'd need to generate $160,000 in annual passive income to cover the loss of her income.We were also planning to start a family. Our son was born in 2017, and our daughter in 2019, so our financial needs kept rising. Paying $2,200 a month in unsubsidized healthcare premiums — plus $5,000 a month for preschool — adds up. With inflation running at 40-year highs, we must generate more income once again. That's three major overhauls of our budget in just 10 years. To keep up, we purchased more rental properties and have been investing in assets that continue to gain value during times of inflation, like healthcare stocks.3. You may still feel the pull of traditional work.Since 2012, I've battled the urge to return to full-time work several times. The first time was less than six months after I left my job. I found myself missing the camaraderie of working as team towards a shared mission.The second time was after our son was born. I worried we wouldn't have enough money to take care of our family. I was also contending with how tough it was to be a stay-at-home parent. I thought having an office to go to could act as a ""break"" from the stresses of being a new dad.The third time happened a year into the pandemic. So many friends who were working from home seemed to have a work-life balance that made them happy.But ultimately, I realized that even if I got a remote job that allowed me to pop over to the beach in the middle of the day, I'd still have to answer to someone.4. You can speak your mind more freely.Think about all the times you've had to hold your tongue at work because you didn't want to jeopardize your raise, promotion or reputation with your employer.One of the biggest benefits of being financially independent and not having to follow company rules is being able to fully express yourself.Additionally, you can confidently speak up for people who could use your support. For example, when I was approached by a producer to record an audiobook version of my book, he was adamant about choosing from three white men to narrate.But as an Asian-American, I wanted someone who looked and sounded like me. We eventually landed on a Chinese-American narrator. Had I not felt confident enough to speak up, that narrator wouldn't have gotten the opportunity.5. Your legacy will become more important to you.Early retirement has left me with more time to be alone with my thoughts. When I was no longer confined to a 40-hour workweek, I was able to reflect on what really mattered to me — and what legacy I'd like to leave behind.For some people, that might be endowing a scholarship at their alma mater or making an impact with a charity. For me, it's sharing financial advice that can help other people achieve their life goals.The one thing that kept me going once pandemic lockdowns started was knowing that one day my children would get to bring my book to show-and-tell.I've found that if you support the causes that are most important to you, share your blessings and act as a mentor to others, your legacy will flourish.6. You're better off thinking in terms of probabilities, not absolutes.",A 45-year-old who's been 'fake retired' for 10 years shares the surprising lessons he learned when he tried to retire early.
"The inside of Macerich's Tysons Corner Center in Virginia.MacerichThe biggest shopping mall owners in the United States say retailers are still forging ahead with plans to open new stores in spite of growing recession fears and decades-high inflation that's squeezing shoppers' budgets.Simon Property Group, the country's largest mall owner, said the pipeline of businesses slated to open up at its properties remains strong. The company reported an occupancy rate at its U.S. malls and outlet centers of 93.9% as of June 30, up from 91.8% a year earlier.""Even with with what's going on in the world, we really haven't seen anyone back out of deals,"" Simon Property Chief Executive Officer David Simon said on an earnings conference call Monday.""We're seeing a big rebound in Vegas, Florida is on fire ... California is finding its legs,"" he added.Fueling the openings are a mix of factors, including retailers pushing to snap up limited space and popular online brands looking to expand by opening up brick-and-mortar locations. Some retailers are eyeing real estate in markets outside of major cities as they follow people who uprooted to find bigger spaces during the pandemic. And companies including Macy's that shuttered stores in recent years are now testing different formats, often with smaller footprints.So far this year, retailers in the U.S. have announced 4,432 store openings, compared with 1,954 closings, according to data from Coresight Research, resulting in a net of 2,478 openings.Before the pandemic, the industry was seeing net closures of thousands of stores every year as consumers increasingly moved their spending online. In 2019, Coresight tracked 9,832 closures, compared with 4,689 openings. Last year, the retail industry eked out a net addition of 68 stores.The optimism from retail real estate owners comes amid warning signs from across the industry. In recent weeks, retailers including Walmart, Target, Best Buy, Gap and Adidas slashed their sales or profit outlooks as consumers squeezed by higher gas and grocery bills reign in spending on other items. At the same time, though, luxury retailers including Birkin bag maker Hermes and Louis Vuitton parent LVMH say profits are strong and sales are growing as higher-income consumers continue to splurge on pricey fashion and accessories.At its malls, Simon Property also said it's noticing a split in behavior. Consumers who shop at value-oriented retailers are more likely to be pulling back, Simon said, as are younger shoppers who don't earn as much money. Among those seeing softening sales are the company's teen and fast-fashion retailers Aeropostale and Forever 21, as well as its J.C. Penney department store chain, he said.But he said businesses like men's suit retailer Brooks Brothers, which Simon Property also owns, continues to ring up sales.""The higher-income consumer is still spending money,"" Simon said.Macerich, which operates malls including Tysons Corner Center in Virginia and Scottsdale Fashion Square in Arizona, noted that distress in the retail industry has slowed dramatically after a pandemic-spurred wave of closures in 2020.""Clearly, there are economic uncertainties due to inflation, rising interest rates and the war in Ukraine,"" Macerich CEO Thomas O'Hern said on a conference call last Thursday. ""However, we continue to expect gains in occupancy, net operating income and cash flow from operations through the remainder of this year and into next year.""Macerich said its leasing activity in the second quarter reflected retailer demand at levels not seen since 2015. The company also said it recently polled around 30 of its biggest national tenants and found that roughly 90% have not changed their plans to open new locations this year and next.Also fueling store openings are retailers that started online and are now looking to expand with physical locations, said Douglas Healey, senior executive vice president of leasing at Macerich. Those include athletic apparel brands Fabletics, Alo Yoga and Vuori, shoe maker Allbirds and the furniture chain Interior Define, he said.Macerich said it signed 274 leases in the quarter ended in June, up 27% from a year earlier and up 42% from pre-Covid 2019 levels.Conor Flynn, CEO of shopping center owner Kimco, said he has ""cautious optimism"" about the state of business, given the pressures on consumers. Some retailers are taking advantage of tough times to snag vacant storefronts they will want in years to come, he said on a conference call last Thursday.Construction of new retail space has also hit the brakes for the most part during the pandemic, according to David Jamieson, Kimco's chief operating officer. He said that has put more pressure on businesses to compete for the best available spaces.The availability of retail space at all types of properties including malls in the U.S. hit a 10-year low in the second quarter, according to CBRE, a real estate services and investment firm.The plans for new openings come even as visits to malls and shopping centers appears to be slowing this summer amid inflationary pressures, though analysts and executives say those who do visit are more likely to buy something.Visits to indoor U.S. malls in June rose 1.5% compared with the prior year, marking the smallest gain so far this year, according to Placer.ai, a retail analytics firm. Visits to outlet centers dropped 6.7%. The distance that it takes many consumers to drive to outlet centers has resulted in a falloff in visits as gas prices remain inflated, Placer.ai said.",Mall owners say retailers are still opening stores in spite of recession fears.
"View of Canary Wharf business district behind branches at dusk in London, Britain March 9, 2021. REUTERS/Peter CziborraRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - The number of companies filing for voluntary liquidations in England and Wales hit a record high in the second quarter of this year as businesses struggled without the support available to them during the COVID-19 pandemic, data showed on Tuesday.Total company insolvencies surged by 81% compared with the April-June period last year, the bulk of them creditors' voluntary liquidations (CVLs) which were the highest since records began in 1960, the government's Insolvency Service said.Total company insolvencies were 13% higher than in the January-March quarter.Register now for FREE unlimited access to Reuters.comBritain's economy is struggling under the strain of nearly double-digit inflation which is expected to rise further when energy prices jump again later this year.The combination of recession risks and high inflation poses a dilemma for the Bank of England. It is set to raise interest rates for the sixth time since December on Thursday, possibly by half a percentage point which would be its biggest hike since 1995.""Companies will need ensure they adapt quickly in order to safeguard their long-term survival during what looks to be a tough autumn, where lower growth, tighter capital and market volatility are likely to be the norm,"" Samantha Keen, a partner at consultancy firm EY-Parthenon, said.The number of compulsory liquidations rose by 9% in the second quarter and was nearly four times higher than a year earlier but remained lower than levels seen before the pandemic.Register now for FREE unlimited access to Reuters.comReporting by Farouq Suleiman
Editing by William SchombergOur Standards: The Thomson Reuters Trust Principles.",Voluntary liquidations hit record high in England and Wales.
"Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.China considers Taiwan its territory and has increased military activity in the air and seas around it. Taiwan vows to defend itself and has made strengthening its defences a priority, with regular military and civil defence drills. read more The preparations include designating shelters where people can take cover if Chinese missiles start flying in, not in purpose-built bunkers but in underground spaces like basement car parks, the subway system and subterranean shopping centres.Register now for FREE unlimited access to Reuters.comThe capital of Taipei has more than 4,600 such shelters that can accommodate some 12 million people, more than four times its population.Harmony Wu, 18, was surprised to learn that an underground shopping concourse where she and other youngsters were recently rehearsing some dance moves would be turned into an air-raid shelter in the event of war.But she said she could understand why.""Having shelter is very necessary. We don't know when a war might come and they are to keep us safe,"" Wu said at the venue near a Taipei subway station.""War is brutal. We've never experienced it so we aren't prepared,"" she said.Taipei officials have been updating their database of designated shelters, putting their whereabouts on a smartphone app and launching a social media and poster campaign to make sure people know how to find their closest one.Shelter entrances are marked with a yellow label, about the size of an A4 piece of paper, with the maximum number of people it can take.A senior official in the city office in charge of the shelters said events in Europe had brought a renewed sense of urgency.""Look at the war in Ukraine,"" Abercrombie Yang, a director of the Building Administration Office, told Reuters.People demonstrate taking shelter with their hands covering their eyes and ears while keeping their mouth open, during a drill at a basement parking lot that will be used as an air-raid shelter in the event of an attack, in Taipei, Taiwan, July 22, 2022. REUTERS/Ann Wang""There's no guarantee that the innocent public won't get hit,"" he said, adding that that was why the public had to be informed.""All citizens should have crisis awareness ... We need the shelters in the event of an attack by the Chinese communists.""'NOT STRESSED'Last month, Taiwan held a comprehensive air-raid exercise across the island for the first time since the coronavirus pandemic disrupted regular drills.Among the instructions citizens got in case of incoming missiles was to get down in their basement parking lots with their hands covering their eyes and ears while keeping their mouths open - to minimise the impact of blast waves.Some civil defence advocates say more needs to be done.Authorities are required by law to keep the shelters clean and open but they don't have to be stocked with supplies like food and water.Researchers in parliament called in June for shelters to be provided with emergency supplies.Wu Enoch of the ruling Democratic Progressive Party says the public must prepare survival kits to take with them when they seek shelter.""What's important is what you bring with you, for people to stay there for a long period of time,"" Wu said, citing medical supplies and even tools to build a makeshift toilet.After decade of sabre-rattling across the Taiwan Strait separating the democratic island from China, many Taiwan people appear resigned to living with the threat of a Chinese invasion.""I'm not stressed. I carry on with my life as usual. When it happens, it happens,"" said Teresa Chang, 17, who was also going through her paces at the underground dance practice.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Fabian Hamacher and Ann Wang; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.","From subway stations to shopping malls, Taiwan prepares its air-raid shelters."
"SummaryChinese warplanes buzz Taiwan Strait dividing lineExpected U.S. House speaker's visit has enraged BeijingBeijing insists self-ruled Taiwan is part of ChinaTAIPEI, Aug 2 (Reuters) - Chinese warplanes buzzed the line dividing the Taiwan Strait on Tuesday shortly before the expected arrival in Taipei of U.S. House of Representatives Speaker Nancy Pelosi for a visit that has pushed friction between Washington and Beijing to a new level.The Chinese leadership has repeatedly warned against Pelosi, a long-time critic of Beijing, making a trip to self-ruled Taiwan, which China claims as its own.In the latest rhetorical salvo, Chinese Foreign Minister Wang Yi said on Tuesday that U.S. politicians who ""play with fire"" on the Taiwan issue will ""come to no good end"".Register now for FREE unlimited access to Reuters.comThe United States said on Monday it would not be intimidated by what it called Chinese ""sabre rattling"".Most of Pelosi's planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, a person familiar with her itinerary said.Four sources said she was scheduled on Wednesday afternoon to meet a group of activists who are outspoken about China's human rights record.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, while her office has also kept silent.On Tuesday night, Taiwan's tallest building, Taipei 101, lit up with messages including: ""Welcome to Taiwan"", ""Speaker Pelosi"", ""Taiwan (heart) USA"".With tensions already high, several Chinese warplanes flew close to the median line dividing the Taiwan Strait on Tuesday morning, a source told Reuters.Several Chinese warships have also sailed near the unofficial dividing line since Monday, the source said.The source said both Chinese warships and aircraft ""squeezed"" the median line, an unusual move the person described as ""very provocative.""The Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait while Taiwanese aircraft were on standby nearby, the person said.The Chinese planes left the area in the afternoon but the ships remained, they said.Neither side's aircraft normally cross the median line.Meanwhile four U.S. warships, including an aircraft carrier, were positioned in waters east of Taiwan on what the U.S. Navy called routine deployments.The carrier USS Ronald Reagan had transited the South China Sea and was currently in the Philippines Sea, east of Taiwan and the Philippines and south of Japan, a U.S. Navy official told Reuters.It was operating with a guided missile cruiser, USS Antietam, and a destroyer, USS Higgins. The amphibious assault ship USS Tripoli was also in the area.Since last week, China's People's Liberation Army has conducted various exercises, including live fire drills, in the South China Sea, Yellow Sea and Bohai Sea, in a show of Chinese military might.MYSTERY PLANEChina views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island.U.S. House of Representatives Speaker Nancy Pelosi waves after attending a meeting with Malaysia's Parliament Speaker Azhar Azizan Harun at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Nazri Rapaai/Handout via Washington has no official diplomatic relations with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.Russia - itself locked in confrontation with the West over its invasion of Ukraine - also chimed in on Pelosi's expected visit.The Kremlin's foreign ministry spokeswoman called it a ""provocation"" aimed at pressuring Beijing and reiterated Russian support for Beijing's One China principle.Earlier on Tuesday, Pelosi visited Malaysia, having begun her Asia tour in Singapore on Monday. Her office said she would also go to South Korea and Japan but made no mention of a Taiwan visit.The U.S. Air Force plane that flew Pelosi to Malaysia headed towards Borneo on Tuesday before turning north to the Philippines, tracking website Flightradar24 showed on Tuesday. Reuters could not establish if Pelosi was on flight SPAR19.'ENEMY THREATS'Taiwan's Defence Ministry said it had a full grasp of military activities near Taiwan and that it would dispatch forces appropriately in reaction to ""enemy threats"".China's defence and foreign ministries did not respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and has a large military presence, residents reported sightings of armoured vehicles.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour.""Faced with reckless U.S. disregard of China's repeated and serious representations, any countermeasures taken by the Chinese side will be justified and necessary, which is also the right of any independent and sovereign country,"" foreign ministry spokesperson Hua Chunying told a daily briefing in Beijing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.White House national security spokesperson John Kirby said on Monday that Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as China's assertion that the Taiwan Strait is not an international waterway.""We will not take the bait or engage in sabre-rattling. At the same time, we will not be intimidated,"" Kirby said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Accustomed to being caught in the middle of China-U.S. tensions, people in Taiwan expressed mixed views on a Pelosi's visit.""Regarding China's statements or hateful comments, this has actually always been like that. So, we look at it with peace of mind and are not overly scared,"" Yang Hsing-ruel, a 22-year-old university student, said.He expressed hope that the visit would bolster ties between Taiwan and the United States.Also on Tuesday, the website of Taiwan's presidential office received an overseas cyber attack and was at one point malfunctioning, a source told Reuters. The website was shortly afterward brought back online, the source said.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu; Additional reporting by Fabian Hamacher in Taipei and Yew Lun Tian in Beijing;
Writing by Tony Munroe; Editing by Angus MacSwan and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.","Chinese warplanes take to skies, US warships on move before expected Pelosi visit to Taiwan."
"The political network backed by billionaire Charles Koch launched an ad blitz targeting Sens. Joe Manchin and Kyrsten Sinema to get the moderate Democrats to block a massive spending-and-tax package that's advancing in the Senate.The bill, known as the Inflation Reduction Act of 2022, promises to raise $739 billion in new revenue — mostly by setting a minimum corporate tax rate and making changes to Medicare drug pricing — to help pay for $433 billion in climate and health initiatives.The legislation is a pared-down version of President Joe Biden's Build Back Better plan, which failed earlier this year after Manchin and Sinema opposed key elements of the bill. The legislation has a renewed chance of passing after Manchin reached a deal last week on a smaller tax-and-spending package with Senate Majority Leader Chuck Schumer, D-N.Y. It represents one of the most important pieces of legislation for Democrats as they fight to hold on to the Senate with the November midterms just under 100 days away. Manchin and Sinema, who are both up for reelection in 2024, represent key votes in the Senate, with the chamber split 50-50.Americans for Prosperity, which is part of the larger Koch network, launched two ads on Saturday on its Facebook, Twitter and YouTube pages. The ads specifically call out the two senators, encouraging them to oppose the legislation. ""Senator Manchin can stop it. Come on, Joe ... Say NO for West Virginia,"" the Manchin-focused ad says. The Sinema ad has an almost identical look, stating ""Senator Sinema can stop it. Come on, Kyrsten ... Say NO for Arizona.""Each ad calls the bill a ""$739 billion tax hike that will raise prices & make American energy more expensive."" The Koch-backed group's posts on their media platforms link to an online messaging portal from which supporters can call on lawmakers to oppose the legislation.Facebook's ad archive shows the spots were playing in Manchin and Sinema's respective states of West Virginia and Arizona, as well as in Washington, D.C.Bill Riggs, a spokesman for Americans for Prosperity, told CNBC in an email on Monday that the ad campaign targeting the reconciliation bill is a six-figure buy on digital platforms and connected TV. He said the group is planning to expand this week to calling out Democrat Sens. Raphael Warnock, D-Ga., Catherine Cortez Masto, D-Nev., and Maggie Hassan, D-N.H. All three are up for reelection in November in states that are expected to be competitive.The Stand Together Chamber of Commerce, which was founded by Charles Koch, contributed $40 million to Americans for Prosperity in 2020, according to the group's latest financial disclosure. Koch is also the CEO of the massive conglomerate known as Koch Industries, which owns multiple energy subsidiaries.Manchin has said this bill isn't a spending package and doesn't raise taxes but instead is more focused on investing money. Sinema has yet to publicly comment on the bill.Representatives for Manchin and Sinema did not return requests for comment.The West Virginia lawmaker reached a deal with Schumer last week on the massive reconciliation package that aims to reform the tax code, fight climate change and cut health care costs for consumers. The bill, if passed, would impose a 15% corporate minimum tax and close the carried interest loophole that allows hedge fund managers and private equity partners to pay lower taxes.Still, for both lawmakers, this is the latest attempt by an outside group with ties to corporate executives to try to sway their vote. The Koch network has targeted both Sinema and Manchin throughout the 2022 election cycle. Americans for Prosperity leaders previously called on their grassroots supporters to push Manchin to oppose some of his party's legislative priorities.Corporations and their executives have also poured money into Manchin and Sinema's reelection campaigns. Manchin's campaign raised over $1 million over the past three months, which included contributions from several energy companies, including Coterra Energy, NextEra Energy and Xcel Energy.Federal Election Commission records show Sinema' s campaign also received donations from chemical company Dow Inc., pharmaceutical giant Eli Lilly and telecom behemoth Verizon, among other corporations, over the same time frame.","Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending bill."
"The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen inside its headquarters in Vienna, Austria, December 7, 2018. REUTERS/Leonhard Foeger/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - OPEC+ sees this year's oil market as slightly less supplied than previously thought, a day ahead of a meeting at which the producer group is set to decide on its production policy for next month.New data showed that the OPEC+ Joint Technical Committee (JTC), meeting on Tuesday, trimmed its forecast for a surplus in the oil market this year by 200,000 barrels per day (bpd) to 800,000 bpd, three OPEC+ delegates told Reuters.The JTC is meeting ahead of a ministerial meeting of the Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, on Wednesday.Register now for FREE unlimited access to Reuters.comOne of the sources said that the JTC, which advises the group on market fundamentals, did not discuss any output policy at its meeting.OPEC+ sources told Reuters last week that the group will likely keep output unchanged in September, or raise it slightly.Fox News reported on Monday that Saudi Arabia will push OPEC+ to increase oil production a on Wednesday, a Fox Business news reporter said on Monday. read more Register now for FREE unlimited access to Reuters.comReporting by Ahmad Ghaddar and Alex Lawler; Editing by Kirsten Donovan and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.","OPEC+ sees slightly smaller oil market surplus this year, sources say."
"Duane Rinde, 57, an Oakland Park resident, receives the Monkeypox vaccine administered by nurse practitioner Joel Ramos at Latinos Salud in Wilton Manors, Florida on Wednesday, July 20, 2022.Al Diaz | Miami Herald | Tribune News Service | Getty ImagesPresident Joe Biden on Tuesday named a team of disaster management and health officials to lead the U.S. response to the monkeypox outbreak as infections continue to rise.Biden appointed Robert Fenton, an administrator with the Federal Emergency Management Agency, as the head of U.S. efforts to quash the outbreak. Fenton currently leads the FEMA region that includes California, one of the states hardest hit by monkeypox.The president named Demetre Daskalakis, director of the Centers for Disease Control and Prevention's division of HIV prevention, as the U.S. deputy monkeypox response coordinator. Daskalakis is an expert on health issues affecting the LGBTQ community, the White House said.Fenton and Daskalakis will work with state and local authorities to ensure they have enough tests, vaccines and antiviral treatments to fight the virus, according to the White House. They will also assist with efforts to educate the public on how the virus spreads.The U.S. has reported nearly 6,000 cases of monkeypox across across 48 states, Washington D.C., and Puerto Rico, according to the Centers for Disease Control and Prevention. The outbreak has spread swiftly since health authorities in Boston confirmed the first U.S. case in May.California, Illinois and New York, home to the nation's three largest cities, are the hardest hit states. The governors in all three states have declared emergencies in response to the outbreak.The pace of the federal effort to contain the outbreak has faced criticism from lawmakers in Congress and local communities. But Health and Human Services Secretary Xavier Becerra said last week said the federal government has done everything it can to ramp up resources.The U.S. has delivered more than 330,000 monkeypox vaccine doses so far, and HHS offered another 786,0000 doses to state and local authorities on Friday. Demand for the vaccines has outstripped supply as the outbreak grows, leading to long lines at clinics and protests in some cities.Gay and bisexual men are at the highest risk of infection right now, though public health officials have repeatedly emphasized that anyone can catch monkeypox through close physical contact with someone who has a rash from the disease or through contact with contaminated materials such as towels and bedsheets.Monkeypox is rarely fatal, and no deaths have been reported in the U.S. so far. But some patients suffer excruciating pain from the rash caused by the virus. Roughly 10% of all patients with the virus are hospitalized because of the pain and to isolate from others, World Health Organization officials said last week. Monkeypox is primarily spreading through skin-to-skin contact during sex at the moment.CNBC Health & Science Read CNBC's latest global health coverage:U.S. secures 171 million omicron Covid shots ahead of fall vaccination campaignHealth secretary calls on Congress and states to do more to help contain monkeypox outbreakPfizer quarterly sales surge to record high, driven by Covid vaccine and antiviral treatment PaxlovidU.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreadsWHO recommends gay and bisexual men limit sexual partners to reduce the spread of monkeypoxPresident Biden tests negative for Covid and will end strict quarantine, White House doctor saysScientists identify likely cause of mysterious children’s liver disease",Biden names team to manage U.S. monkeypox response as outbreak grows.
"Employers are bumping pay and adding perks to offset workers' inflation concerns, but if you haven't seen anything come out of your own workplace, it could be a good time to apply some pressure.Nearly two-thirds of U.S. employers said they increased their compensation budgets this year due to inflation, according to a recent report from Gallagher that surveyed some 800 companies. Indeed, in the second quarter of 2022, job-switchers saw their pay grow by 9.5% year-over-year, while wages for job-holders went up by 7.2%, according to ADP data.But with inflation hitting 9.1% in June, a lot of those wage gains aren't enough to keep pace with rising living costs. If your recent raise didn't match inflation, or you didn't see a pay adjustment at all in the last year, it's worth bringing your concerns and some solutions to the table, says Madelyn Machado, a reverse recruiter in Tampa, Florida.One is to ask for a raise — focus on how you helped the company save or make money, she says, and tie in that inflation and a tight job market make this a good time to adjust your pay.Even if you get a ""no"" at the moment, Machado says it's still worth communicating that you're worried about inflation. If you're concerned about it, your coworkers probably are, too.""When enough people have this conversation,"" Machado says, ""it's data that managers are going to bring to their compensation and finance teams. They'll be able to say, 'we're having a lot of conversations about inflation. What are we going to do about it?'""These discussions could lead to real action across the board: Recently, simPRO, a business management software company, announced an inflationary pay increase of up to 10% for every employee that earns less than $80,000 per year ""to combat the impacts of inflation on simPRO's employees.""Even if you don't secure a permanent raise, another solution is to ask about other non-salary perks to offset inflation and return-to-office costs. So far this year, Gallagher reports that employers are supporting workers' increased living costs by providing:Flexible work schedules (61%)Extended timelines for remote work (29%)Free meals or snacks (19%)Transportation reimbursement (11%)Additional paid time off (10%)Child-care assistance (4%)Housing assistance (1%)Machado wants people to remember that salary changes can take weeks to be approved and go into effect. Others, still, may not be able to make any changes for the foreseeable future.""Even if you do all this, it doesn't mean you'll get the raise you're looking for,"" Machado says. ""If that's important to you, it's time to get into the [job] market.""Check out:What's a good salary or raise to ask for right now? How to find your number in this wild job market3 reasons your recruiter ghosted you, according to a hiring proThis recruiter got laid off and landed a new job two weeks later—her best job-search tipsSign up now: Get smarter about your money and career with our weekly newsletter","It’s worth it to bring up inflation at work, even if you don’t get a raise now."
"California Gov. Gavin Newsom (D) talks with reporters after a meeting with Speaker of the House Nancy Pelosi, D-Calif., in the U.S. Capitol, on Friday, July 15, 2022.Tom Williams | CQ-Roll Call, Inc via Getty ImagesCalifornia Gov. Gavin Newsom declared a state of emergency over the rapidly spreading monkeypox outbreak on Monday, the third U.S. state to do so in a matter of days.Newsom said the emergency declaration would help support the state's vaccination efforts. Demand for the vaccines has outstripped supply as infections rise. Staff at sexual health clinics and other sites have struggled to keep up with the influx of people seeking the shots.California is mobilizing personnel from its Emergency Medical Services to help administer the vaccines. Newsom said the state is working across all levels of government to slow the spread through testing, contract tracing and community outreach.California's declaration comes after Illinois declared a public health emergency earlier Monday. New York declared a state disaster emergency in response to the outbreak late Friday.The U.S. has reported nearly 6,000 cases of monkeypox across across 48 states, Washington D.C., and Puerto Rico, according to the Centers for Disease Control and Prevention. The outbreak has spread swiftly since health authorities in Boston confirmed the first U.S. case in May.California, Illinois and New York – home to the nation's three largest cities – have reported 47% of all confirmed monkeypox infections in the U.S. New York is the epicenter of the outbreak in the U.S., with nearly 1,400 confirmed cases as of Monday.Monkeypox is rarely fatal and no deaths have been reported in the U.S so far. But some patients suffer excruciating pain from the rash caused by the virus. Scientists and public health officials are worried monkeypox could circulate permanently in the U.S. if the outbreak isn't contained.The World Health Organization declared monkeypox a global health emergency last month. More than 19,000 monkeypox cases have been reported in at least 78 countries, according to WHO data. The outbreak is unusual because the virus is spreading widely in North America and Europe. In the past, monkeypox spread at low levels in West and Central Africa where rodents and other animals carry the virus.Monkeypox is primarily transmitting through skin-to-skin contact during sex. Gay and bisexual men are the highest risk of infection right now, public health officials say. About 98% of patients who provided demographic information to clinics identified as men who have sex with men, according to the CDC.But health officials have repeatedly emphasized that anyone can catch monkeypox through physical contact with someone who has the rash that characterizes the disease or contaminated materials such as towels and bedsheets. The CDC last month confirmed the first two U.S. cases of children catching the virus, likely through transmission within their families.Monkeypox can also spread through respiratory droplets when an infected person has lesions in their mouth, but this requires prolonged face-to-face interaction, according to the CDC. Physical contact is the primary mode of transmission, health officials say.U.S. weighing public health emergencyThe Biden administration is considering whether to declare a public health emergency in the U.S, according to senior federal health officials. This would help mobilize resources for state health officials who are battling the outbreak. The last time the U.S. declared a public health emergency was in response to Covid-19 in January 2020.Lawmakers in Congress and local communities have criticized the pace of the federal government's response, but Health Secretary Xavier Becerra said last week the Biden administration has done everything it can to ramp up resources to fight the outbreak. Becerra said states need to do more to prevent transmission, and Congress needs to pass funding to support the response to the outbreak.The Health and Human Services Department has delivered more than 330,000 doses of the monkeypox vaccine to state health departments since May. HHS made another 786,000 doses available to states and other jurisdictions on Friday. But some clinics administering the vaccines say they still have not received enough shots to meet the demand right now.The Food and Drug Administration approved the two-dose vaccine Jynneos in 2019 for people at high risk of monkeypox or smallpox exposure. Jynneos, made by the Danish biotech company Bavarian Nordic, is the only FDA approved monkeypox vaccine in the U.S.CNBC Health & Science Read CNBC's latest global health coverage:U.S. secures 171 million omicron Covid shots ahead of fall vaccination campaignHealth secretary calls on Congress and states to do more to help contain monkeypox outbreakPfizer quarterly sales surge to record high, driven by Covid vaccine and antiviral treatment PaxlovidU.S. to release 786,000 additional monkeypox vaccine doses as outbreak spreadsWHO recommends gay and bisexual men limit sexual partners to reduce the spread of monkeypoxPresident Biden tests negative for Covid and will end strict quarantine, White House doctor saysScientists identify likely cause of mysterious children’s liver diseaseThe U.S. now has the capacity to conduct 80,000 tests a week after bringing several commercial labs onboard last month, according to the CDC. But the number of confirmed infections in the U.S. is likely an undercount because people can't get tested until they develop a rash, which can take several weeks in some cases. Clinicians swab the rash to get the specimen for the test.The U.S. also 1.7 million courses of the antiviral treatment tecovirimat in the strategic national stockpile. Physicians can use tecovirimat to treat monkeypox, but this requires an additional layer of bureaucracy because the drug is only approved for smallpox. The CDC cut down on red tape last month to make it easier for physicians to prescribe tecovirimat.Monkeypox is in the same virus family as smallpox, but it causes much milder disease.","California declares a state of emergency over monkeypox outbreak, following New York and Illinois."
"Caterpillar Inc. equipment is on display for sale at a retail site in San Diego, California, U.S., March 3, 2017. REUTERS/Mike Blake/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Caterpillar Inc (CAT.N) sales missed second-quarter expectations on Tuesday as slowing construction activity in China and a halt in Russia operations exacerbated supply-chain problems that have hurt heavy equipment production.Weakness in China, one of its big markets, dented sales at its construction segment, bringing back to focus its April warning that demand for excavators in the world's second largest economy could slip below pre-pandemic levels in 2022. read more Asia-Pacific sales in the unit that caters to the segment fell 17% in the quarter through June, while overall operating margin shrank despite Caterpillar raising prices last year as higher costs related to labor and freight nibbled into profit.Register now for FREE unlimited access to Reuters.comThe industrial bellwether's shares fell 3% in the premarket trading as parts and labor shortages affected its ability to cater to a strong demand in North America and resulted in lower inventory at its dealers.Sales also came under pressure from its suspension of operations in Russia due to Western sanctions on Moscow over its invasion of Ukraine, dragging overall sales in Europe, Africa and Middle East by 3%.Total revenue rose about 11% to $14.25 billion, but missed the analysts' average estimate of $14.35 billion, according to Refinitiv data.While operating margins fell to 13.6% from 13.9% in the same period a year ago, adjusted profit rose to $3.18 per share, above expectations of $3.01 per share, benefiting from higher prices.""Price was the standout positive (in Q2),"" Jefferies analyst Stephen Volkmann said in a note.Register now for FREE unlimited access to Reuters.comReporting by Abhijith Ganapavaram in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.","Caterpillar sales knocked down by China weakness, Russia halt."
"Shares of Pinterest jumped 14% Tuesday morning, a day after activist investor Elliott Management confirmed it's Pinterest's largest investor.The move comes despite Pinterest's disappointing second-quarter earnings on Monday evening.""Pinterest is a highly strategic business with significant potential for growth, and our conviction in the value-creation opportunity at Pinterest today has led us to become the Company's largest investor,""  Elliott said Monday. Elliott's involvement with Pinterest was reported in July by The Wall Street Journal, which said at the time that the firm had built a stake of over 9% in the company.Pinterest's global monthly active users declined by 5% from a year earlier to 433 million, and while that sort of drop-off is alarming for a social media app that relies on eyeballs to attract advertisers, analysts were expecting a steeper decline to 431 million users.The company's financials were gloomy, as was its commentary about what's to come this quarter. Pinterest said it estimates third-quarter revenue will grow ""mid-single digits on a year-over-year percentage basis,"" below analysts' projections for sales growth of 12.7%.Analysts at Goldman Sachs said Pinterest's earnings report was ""a tale of two different narratives."" They wrote in a Tuesday note that the company remains in the middle of a volatile macroeconomic backdrop in the short term, but that it could reach its ""long discussed"" potential in the long term.The analysts said management's ""commentary around expected margin expansion in 2023 (while not yet formalized guidance) could align PINS as a platform that sustains solid topline growth and profitability if the opportunity set is executed upon.""Morgan Stanley analysts said in a Tuesday note that while Pinterest's earnings were better than feared, its management will still need to successfully improve several areas of the company.""PINS may trade well tactically given positioning, and the new hope of management turnaround,"" they said, ""but as described above we need more details on why/how management intends to execute on the PINS opportunity...and/or evidence from partners that trends in these areas are improving.""",Pinterest shares jump after Elliott confirms it's the company's largest investor.
"Chinese and U.S. flags flutter outside a company building in Shanghai, China April 14, 2021. REUTERS/Aly SongRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 2 (Reuters) - Chinese investors roughly doubled the number of applications they made last year seeking U.S. regulatory clearance for proposed stakes in American companies, according to a report the government plans to release on Tuesday.The Treasury Department report seen by Reuters shows that Chinese investors filed 44 so-called ""covered notices"" seeking greenlights for their deals in U.S. President Joe Biden's first year in office compared to 17 such filings in 2020.The 2021 figures for China included filings from Hong Kong-based investors, while the 2020 numbers place Hong Kong's three such filings into a separate category, due to a shift in U.S. policy.Register now for FREE unlimited access to Reuters.comMost foreigners seeking to take even non-controlling stakes in U.S. companies must seek approval from CFIUS, a powerful committee headed by the Treasury Department, which reviews transactions for national security concerns and has the power to block them.The committee, whose powers were dramatically expanded under a 2018 law, was used by former President Donald Trump to upend many Chinese investments in the United States.The new report shows China also made up the largest number of ""covered notices,"" among all countries, accounting for 16.5% of the total, followed by Canada and Japan at 10.3% and 9.6%, respectively.Top sectors for would-be Chinese investment in the 2019-2021 period, were ""finance, information and services"" and manufacturing, according to the covered notices data.But Chinese investors only sought 10 investments in critical sectors including technology, infrastructure and data businesses in 2021, behind the United Kingdom, Japan, South Korea, the Cayman Islands and Israel.While not every filing represents a unique transaction, and not every filing is included in the ""covered notice"" category, the uptick points to a likely increase in U.S. deals sought by Chinese investors. The report does not detail CFIUS responses to individual filings or transactions.A law approved in 2018, known as FIRRMA, expanded the powers of CFIUS to probe transactions previously excluded from its purview, including attempts by foreigners to purchase non-controlling stakes in U.S. companies. It also instituted mandatory filing requirements for certain transactions.Before those laws were passed, China accounted for most investments in American critical technology in the 2016-2017 period, accounting for more than a fifth of the total.Register now for FREE unlimited access to Reuters.comEditing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.",Chinese requests for U.S. clearance on investments doubled in 2021.
"Russian President Vladimir Putin chairs a meeting on the development of the country's metallurgical sector, via a video link at the Kremlin in Moscow, Russia August 1, 2022. Sputnik/Pavel Byrkin/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comSummaryRussia: Pelosi trip is provocativeRussia says U.S. trying to pressure BeijingRussia: we support ChinaLONDON, Aug 2 (Reuters) - Russia backed China on Tuesday over an expected visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi, warning Washington that such a provocative trip would put the United States on a collision course with Beijing.Chinese leader Xi Jinping warned U.S. President Joe Biden against playing with fire over Taiwan in a call last week but three sources told Reuters on Tuesday that Pelosi was still set to visit the island. read more ""We cannot say for sure right now whether she will or will not get there, but everything about this tour and the possible visit to Taiwan is purely provocative,"" Kremlin spokesman Dmitry Peskov told reporters.Register now for FREE unlimited access to Reuters.comMaria Zakharova, Russia's foreign ministry spokeswoman, said the expected visit was a provocative attempt by Washington to pile pressure on China - with whom Russia has forged a strong partnership in recent years.""The USA is a state provocateur,"" she said. ""Russia confirms the principle of ""one China"" and opposes the independence of the island in any form.""China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.In the Chinese civil war, Mao Zedong's Communists defeated the forces of the Kuomintang (KMT), or nationalist party, under Chiang Kai-shek, forcing him to flee to Taiwan in 1949.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, while the United States said on Monday that it would not be intimidated by Chinese ""sabre rattling"".Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy Faulconbridge, William MacleanOur Standards: The Thomson Reuters Trust Principles.",Russia backs China over 'provocative' Pelosi visit to Taiwan.
"Bill Ackman, founder and CEO of Pershing Square Capital Management.Adam Jeffery | CNBC Billionaire hedge fund manager Bill Ackman is taking a vocal stance against Visa, saying the credit card giant has the power to pressure Pornhub to remove child pornography from its site. ""My interest comes from the fact that I have four daughters,"" Ackman said on CNBC's ""Squawk Box"" Tuesday. ""When you think about the worst harm — economic, physical, mental harm you can impact upon a human being — it's having a child trafficked ... video of the rape appear. I find it hard to talk about it.""On Friday, U.S. District Judge Cormac Carney in California ruled that Visa knowingly facilitated the distribution of child pornography on Pornhub and other sites operated by parent company MindGeek by processing payments.Carney denied parts of Visa's motion to be dismissed from claims brought by a woman who is suing Visa and MindGeek over a sexually explicit video her boyfriend filmed of her when she was 13.""It is simple,"" Carney said in his ruling. ""Visa made the decision to continue to recognize MindGeek as a merchant, despite its alleged knowledge that MindGeek monetized child porn. MindGeek made the decision to continue monetizing child porn, and there are enough facts pled to suggest that the latter decision depended on the former.""The Pershing Square CEO had called on Visa and Mastercard in late 2020 to temporarily withhold payments to Pornhub after a New York Times column by Nicholas Kristof brought the issue to light.""Remarkably, the company, despite being entirely aware that there's child pornography on these sites, they continue to provide payment services, until the Kristoff article, and then they shut down the sites overnight which would have bankrupted them,"" Ackman said. ""Within a matter of weeks they re-authorized the merchants and started accepting payments again and the crime continues.""Ackman said he has no economic stake in Visa, Mastercard or any payments company. He said he offered to help finance lawsuits philanthropically against Visa.The hedge fund manager said he believes that this is one of the most egregious corporate governance failures he has witnessed and the company and its board could be faced with huge liabilities.""It's an extreme measure when Visa or Mastercard shuts down a merchant, but a merchant's business is fundamentally illegal,"" Ackman said. ""There's traditional breach of fiduciary duty when a company has a product or service that can cause harm.""A Visa spokesperson told CNBC that the payments giant condemns sex trafficking, sexual exploitation, and child sexual abuse materials.""This pre-trial ruling is disappointing and mischaracterizes Visa's role and its policies and practices. Visa will not tolerate the use of our network for illegal activity,"" the spokesperson said. ""We continue to believe that Visa is an improper defendant in this case.""","Bill Ackman blasts Visa, saying it has the power to pressure Pornhub to remove child pornography."
"World Updated on: August 1, 2022 / 9:37 PM / CBS News Al-Zawahiri killed in drone strike Al Qaeda leader Ayman al-Zawahiri killed in drone strike 02:44 President Biden on Monday announced that the U.S. killed al Qaeda leader Ayman al-Zawahiri in a drone strike in Afghanistan. The terrorist leader was 71.Though not as well known as Osama bin Laden, Al-Zawahiri was believed to be the true architect behind the worst terrorist attacks in U.S. history on Sept. 11, 2001. For years, he was known as al Qaeda's No. 2 man, when analysts say he was really the brains behind the operation. Mr. Biden said Monday his hope was that the action taken against al-Zawahiri ""will bring one more measure of closure"" to those who lost loved ones on 9/11. With al-Zawahiri's death, all of the top plotters of the Sept. 11, 2001, terrorist attacks are now either dead or captured. Al-Zawahiri had long been a wanted man. After the 9/11 attacks, then-President George W. Bush released a list of the FBI's 22 most wanted terrorists — al-Zawahiri was near the top of the list, along with bin Laden. Bin Laden was killed by U.S. special forces in 2011, but al-Zawahiri would elude attempts on his life and an international manhunt for over another decade.  Al Qaeda leader Osama bin Laden, left, sits with his adviser Ayman al-Zawahiri, during an interview with a Pakistani journalist at an undisclosed location in Afghanistan for an article published Nov. 10, 2001. Getty Images Al-Zawahiri was born into a prominent Egyptian family, attending Cairo's best schools and becoming a practicing physician. He became active in Islamic fundamentalism in his teens, joining the Islamic Jihad. When the group assassinated Egyptian President Anwar Sadat in 1981, al-Zawahiri was one of hundreds arrested and put on trial. He was kicked out of Egypt in 1984, after serving his sentence, and migrated to Afghanistan. There, he met bin Laden, and they formed a bond, merging al-Zawahiri's ties to Islamic Jihad and bin Laden's al Qaeda. Together, they shared a motive — to kill Americans, military and civilian alike. Following other attacks, their plotting culminated in Sept. 11, 2001. While al Qaeda's relevance and influence has declined, it continues to be a violent presence in the Middle East and Africa.Exposing al Qaeda's Secrets: Inside the documents obtained from Osama bin Laden's compoundThe successful strike against al-Zawahiri comes roughly one year after U.S. troops withdrew from Afghanistan, ending the military presence that began two decades earlier in the wake of 9/11. The decision to withdraw was controversial, and the chaotic process was marked by the deaths of some U.S. troops and many more Afghans as the Taliban took control. — Charlie D'Agata contributed to this report. In: Al Qaeda Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Ayman al-Zawahiri, al Qaeda leader killed in U.S. strike, was seen as brains of bin Laden's terror group."
"The Ferrari logo is seen at the company's headquarters in Maranello, Italy, June 8, 2021. Picture taken June 8, 2021. REUTERS/Guglielmo Mangiapane/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesAdj. EBITDA rose 15% to 446 mln euros in Q2Guided for FY adj. EBITDA of 1.70-1.73 bln eurosCo sees revenues around 4.9 bln euros this yearHybrid models made up 17% of shipments in Q2MILAN, Aug 2 (Reuters) - Ferrari (RACE.MI) beat earnings forecasts and reported record orders in the second quarter, prompting the luxury sports car maker to raise its full-year targets, as Portofino M and F8 family models drove sales.The Italian company, famed for its roaring engines powering super-cars with price tags starting at over 200,000 euros ($205,000), in June rolled out its new business plan, with a promise to make electric and hybrid cars 80% of it models by 2030. read more .Shipments in the April-June quarter rose 4%, with deliveries more than doubling in China to 358 units.Register now for FREE unlimited access to Reuters.comThe carmaker said hybrid models made up 17% of its shipments in that period, when first deliveries started for the 275,500 euro 296 GTB, which added to the SF90 Stradale, the company's first hybrid car.Ferrari said it now expected adjusted earnings before interest, tax, depreciation and amortization (EBITDA) between 1.70 billion euros and 1.73 billion euros this year, up from a previous forecast range of 1.65-1.70 billion euros.""The quality of the first six months and the robustness of our business allows us to revise upward the 2022 guidance on all metrics,"" Chief Executive Benedetto Vigna said in a statement.SOLD OUT""Also the net order intake reached a new record level in the (second) quarter,"" added Vigna, who took charge of Ferrari last September.The demand increased even as most of its models were currently sold-out, Ferrari said in slides prepared for analyst presentation.Second-quarter adjusted EBITDA rose 15% to 446 million euros topping the 427 million euros forecast in a Reuters poll.However the margin on adjusted EBITDA fell to 34.6% in the quarter, from 37.4% a year earlier, in part because of industrial cost inflation, the company said.Milan-listed shares in Ferrari were down 0.1% by 1320 GMT, outperforming Italy's blue-chip index (.FTMIB).Ferrari has promised to deliver its first fully electric car in 2025, one of 15 new models it plans to launch between 2023 and 2026.But in September it will unveil its much awaited first sport utility vehicle (SUV), called Purosangue, ""thoroughbred"" in Italian, fitted with its gas-guzzling V-12 trademark engine.Ferrari said on Tuesday it expected to start Purosangue production - along with that of the 840 horse power Daytona SP3 Icona-series car - in 2022 with deliveries in 2023.($1 = 0.9779 euros)Register now for FREE unlimited access to Reuters.comReporting by Giulio Piovaccari
Editing by Keith Weir and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.","Ferrari lifts 2022 forecasts after strong Q2 results, record orders."
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesProfits soar to $8.45 bln, far exceeding forecastsBP boosts dividend by 10%BP to boost spending on oil and gas, CEO saysProfits driven by strong oil trading, hit by LNGLONDON, Aug 2 (Reuters) - BP's (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production.The strong performance caps a blowout quarter for the top Western oil and gas companies on the back of soaring energy prices that have increased pressure on governments to impose new taxes on the sector to help consumers.""The company is running well and it continues to strengthen. We have real strategic momentum,"" Chief Executive Officer Bernard Looney told Reuters.Register now for FREE unlimited access to Reuters.comBP shares were up 4.3% by 1315 GMT, hitting their highest levels since June and strongly outperforming the European energy index (.SXEP) which was up 0.7%. BP shares have gained 23% this year but are still some 10% below pre-pandemic levels.Looney, who took office in 2020 with a vow to rapidly shift BP away from fossil fuels to renewables, said that the company will increase its spending on new oil and gas by $500 million in response to the global supply crunch. read more ""We will direct more investment towards hydrocarbons to help with energy security in the near term,"" Looney said. ""We'll probably direct about a half a billion dollars for hydrocarbons.""BP plans to maintain its overall capital expenditure this year in a range of $14 billion to $15 billion.BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase. It halved its dividend to 5.25 cents in July 2020 for the first time in a decade in the wake of the pandemic.The company also increased its share repurchases plan for the current quarter to $3.5 billion after it bought $4.1 billion in the first half of the year.""The fact it produced its highest quarterly profit in 14 years, even though oil prices were higher during that period than they are now, suggests BP is a more efficient machine than it was previously,"" AJ Bell investment director Russ Mould said.The company said it expected crude oil and gas prices as well as refining margins to remain ""elevated"" in the third quarter and said it would stick to its target of using 60% of its surplus cash on share buybacks.Reuters GraphicsLogo of British Petrol BP is seen e at petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper PempelThe surge in revenue also allowed BP to sharply reduce its debt to $22.8 billion from $27.5 billion at the end of March.BIG OIL BONANZABP brings the second quarter profit tally for the top Western oil and gas companies to $59 billion after rivals including Exxon Mobil (XOM.N) and Shell (SHEL.L) reported record earnings last week. read more Its underlying replacement cost profit, its definition of net earnings, reached $8.45 billion in the second quarter, the highest since 2008 and far exceeding analysts' expectations of $6.8 billion.That was up from $6.25 billion in the first quarter and $2.8 billion a year earlier.The strong performance was driven by strong refining margins, ""exceptional"" oil trading performance as well as higher fuel prices, although gas trading was weaker, BP said.An outage at a major U.S. Gulf Coast liquefied natural gas (LNG) plant, also weighed on profits.The Freeport LNG plant supplies BP with 4 million tonnes per year of LNG, out of a total portfolio of 18 million tonnes.BP is looking at ways to supply customers despite the lost supply though that will come at an elevated cost, Chief Financial Officer Murray Auchincloss told Reuters.Reuters GraphicsThe company has allocated money to cover for the extra costs of LNG supply as a result of the Freeport outage, he said.Jefferies analysts estimated those extra costs this quarter would total $700 million to $900 million.Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso and Shadia Nasralla; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",BP boosts dividend after profit hits 14-year high.
"Dara Khosrowshahi, chief executive officer of Uber Technologies Inc., speaks during an interview in San Francisco, on Tuesday, Dec. 14, 2021.David Paul Morris | Bloomberg | Getty ImagesUber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue and posted $382 million in free cash flow for the first time ever.Shares of Uber were up 13% after markets opened.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. But CEO Dara Khosrowshahi said in a prepared statement that Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services. The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. ""Driver engagement reached another post-pandemic high in Q2, and we saw an acceleration in both active and new driver growth in the quarter,"" Khosrowshahi said in prepared remarks. ""Against the backdrop of elevated gas prices globally, this is a resounding endorsement of the value drivers continue to see in Uber. Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia.""Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Khosrowshahi said on a call with investors that new driver sign-ups were up 76% year over year. He said over 70% of drivers said inflation and cost of living played a part in their decision to join Uber.Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.","Uber reports another big loss but beats on revenue, shares pop 13%."
"FILE PHOTO: Trading information for KKR & Co is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., August 23, 2018. REUTERS/Brendan McDermid/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 2 (Reuters) - Swedish engineering firm Trelleborg AB (TRELb.ST) has agreed to acquire Minnesota Rubber and Plastics from private equity firm KKR & Co Inc (KKR.N) for about $1 billion in cash, according to people familiar with the matter.The deal is expected to expand Trelleborg's polymer and plastics business in North America when it closes before the end of this year, the sources told Reuters.KKR acquired Minneapolis-based Minnesota Rubber and Plastics from private equity firm Norwest Equity Partners for an undisclosed amount in 2018. The company was founded in 1941 and produces high-grade plastic components used in cars, medical devices and telecommunications equipment, with manufacturing facilities in North America, Europe and Asia.Register now for FREE unlimited access to Reuters.comMinnesota Rubber and Plastics has acquired several smaller rivals under KKR's ownership. It bought Britain's Primasil Silicones in May and Pawling Engineered Products Inc, a Prawling, New York-based plastics firm, in 2021.Stockholm-listed Trelleborg is a provider of high-end plastics and polymer used by companies across oil and gas, aviation and construction. It has a market capitalization of about $6 billion.The acquisition comes as Trelleborg shares trade close to an all-time high. The company clinched a deal earlier this year to sell its division that makes tyres for agricultural and industrial machinery to Yokohama Rubber Co for 265.2 billion yen ($2.18 billion), giving it capital for acquisitions and share buybacks.Register now for FREE unlimited access to Reuters.comReporting by Chibuike Oguh in New York; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.",Trelleborg to buy KKR's Minnesota Rubber and Plastics in $1 bln deal -sources.
"US Secretary of State Antony Blinken (not pictured) meets Chinese Foreign Minister Wang Yi during a meeting in Nusa Dua, Bali, Indonesia July 9, 2022. Stefani Reynolds/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - Chinese foreign minister Wang Yi said on Tuesday that those U.S. politicians who ""play with fire"" on the Taiwan issue will ""come to no good end"", according to a ministry statement.He did not specify any U.S. politician. China has expressed opposition to a potential visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi.Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian;
Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",China says U.S. politicians who 'play with fire' on Taiwan will pay.
"Sri Lanka's Prime Minister Ranil Wickremesinghe gestures as he speaks during an interview with Reuters at his office in Colombo, Sri Lanka, May 24, 2022. REUTERS/Adnan Abidi/File PhotoRegister now for FREE unlimited access to Reuters.comCOLOMBO, Aug 2 (Reuters) - A Chinese military survey ship will visit a strategic port in crisis-hit Sri Lanka later this month only to refuel, a cabinet spokesman said on Tuesday, after neighbouring India raised concerns over the vessel's journey to the Indian Ocean island.Shipping data from Refinitiv Eikon showed the research and survey vessel Yuan Wang 5 was en route to Sri Lanka's Hambantota, a $1.5 billion Chinese-built port that India worries could be used as a military facility. read more ""It is coming to refuel and not for any other purpose,"" cabinet spokesman Bandula Gunawardana told reporters, adding that the foreign minister had briefed Sri Lanka's new President Ranil Wickremesinghe on the matter.Register now for FREE unlimited access to Reuters.com""President told Cabinet that diplomatic efforts will be made to work with both countries so as not to create any issues,"" Gunawardana said.China last week said it hoped ""relevant parties"" would refrain from interfering with its legitimate maritime activities. read more India, which has spent billions in recent months to keep Sri Lanka afloat amid its worst economic crisis in seven decades, said it was monitoring the planned visit of the Chinese ship. read more Diplomatic relations between India and China have been strained since 2020 after clashes between troops along a remote Himalayan border. At least 20 Indian and four Chinese soldiers were killed in the fighting, which led to a massive build-up of troops on both sides.Foreign security analysts describe the Yuan Wang 5 as one of China's latest space-tracking ships, used to monitor satellite, rocket and intercontinental ballistic missile launches.The Pentagon's annual report on China's military modernisation says the Yuan Wang ships are operated by the Strategic Support Force of the People's Liberation Army.Register now for FREE unlimited access to Reuters.comWriting by Devjyot Ghoshal
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Sri Lanka says Chinese military survey ship will port only to refuel.
"SummaryZawahiri tracked to safe house in KabulHit by Hellfire missile while standing on balcony'This terrorist leader is no more' - BidenTaliban 'grossly violated' Doha Agreement - BlinkenKABUL/WASHINGTON, Aug 2 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri with a drone missile strike on a balcony of his home in downtown Kabul, Afghanistan, officials in Washington said, the biggest blow to the militants since Osama bin Laden was hit in 2011.Afghanistan's Taliban government has not confirmed the death of Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head and helped to coordinate the Sept. 11, 2001, attacks on the United States that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri was killed when he came out on the balcony of his safe house in Kabul at 6:18 a.m. (0148 GMT) on Sunday morning and was hit by Hellfire missiles from a U.S. drone.Register now for FREE unlimited access to Reuters.com""Now justice has been delivered, and this terrorist leader is no more,"" Biden said in televised remarks from the White House on Monday. ""No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out.""Biden said he authorised the precision strike after months of planning and that no civilians or family members were killed.Three spokespeople in the Taliban administration, accused by the United States of violating an agreement between them by sheltering Zawahiri, declined comment on Tuesday.Taliban spokesperson Zabihullah Mujahid previously confirmed that a strike took place in Kabul on Sunday and called it a violation of ""international principles.""A spokesperson for the interior ministry said a house was hit by a rocket in Sherpoor, a leafy, upscale residential neighbourhood in the centre of the city.""There were no casualties as the house was empty,"" Abdul Nafi Takor, the spokesperson, said.Taliban authorities threw a security dragnet around the house and journalists were not allowed nearby.A woman who lives in the neighbourhood and spoke to Reuters on condition of anonymity said she and her family of nine moved to the safe room of their house when she heard an explosion at the weekend. When she later went to the rooftop, she saw no commotion or chaos and assumed it was a rocket or bomb attack - which is not uncommon in Kabul. read more A senior Taliban official told Reuters that Zawahiri was previously in Helmand province and had moved to Kabul after the Taliban took over the country in August last year.White House spokesman John Kirby said the United States did not have DNA confirmation of Zawahiri's death. ""We're not going to get that confirmation,"" he said on CNN, describing ""visual confirmation"" along with other sources.One senior administration official told reporters U.S. intelligence determined with ""high confidence"" that Zawahiri was killed.Kirby also said there was a small al Qaeda presence remaining in Afghanistan.""We are still going to stay vigilant, we're still going to stay capable,"" Kirby told MSNBC, adding that the United States had the capability to conduct a counter-terrorism strike from afar.""The message has been very, very clearly sent not just to al Qaeda, but to anybody that might harbour them.""PROVIDING SANCTUARYA Taliban fighter stands guard near the site where Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/StringerZawahiri succeeded bin Laden as al Qaeda leader after years as its main organiser and strategist, but his lack of charisma, and competition from rival militants Islamic State, hobbled his ability to inspire devastating attacks on the West. read more There were rumours of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.The drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.""We didn't have any boots on the ground, but over a constant series of meticulous gathering of intelligence and information over the course of many months, we were able to execute this strike with great efficiency,"" Kirby said.Reuters GraphicsZawahiri's death also raises questions about whether he received sanctuary from the Taliban following their takeover of Kabul. The senior U.S. administration official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country.U.S. Secretary of State Antony Blinken said the Taliban had ""grossly violated"" the Doha Agreement between the two sides by hosting and sheltering Zawahiri.Former President Barack Obama joined lawmakers in praising the operation.""It's possible to root out terrorism without being at war in Afghanistan,"" Obama said in a Twitter message. ""And I hope it provides a small measure of peace to the 9/11 families and everyone else who has suffered at the hands of al Qaeda.""Until the U.S. announcement, Zawahiri had been rumoured to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumours that he had died.WIFE, FAMILY IN SAME HOUSEThe senior U.S. official said the United States found out this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well.He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinise the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25, he received an updated report and authorised the strike once an opportunity was available, the administration official said.With other senior al Qaeda members, Zawahiri is believed to have plotted the Oct. 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the Aug. 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan's Taliban government in late 2001 following the Sept. 11 attacks.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle, Matt Spetalnick in Washington, Jibran Ahmad in Peshawar, Susan Heavy in Washington and Reuters staff in Kabul; Writing by Raju Gopalakrishnan and Krishna N. Das; Editing by Stephen Coates, Edmund Klamann and Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",Al Qaeda leader Zawahiri killed in U.S. drone strike in central Kabul.
"Crime August 2, 2022 / 8:21 AM / CBS/AP A woman was charged Monday with causing the deaths of two bicyclists who were hit by her vehicle while riding in a weekend charity event in western Michigan.Five men were hit Saturday in Ionia County during a three-day endurance ride for the Make-A-Wish Foundation.The two who died were identified as Edward Erickson, 48, of Ann Arbor, and Michael Salhaney, 57, of Bloomfield Hills. Mandy Benn, of Ionia, Michigan is pictured in this mugshot from the Ionia County Office of the Sheriff.  Ionia County Office of the Sheriff Mandy Benn, 43, was charged with operating while intoxicated causing death and other crimes. It wasn't immediately known if she has a lawyer yet. Prosecutor Kyle Butler said Benn was trying to pass a UPS truck on a rural road Saturday when she crossed the center line and hit the bicyclists.She had no alcohol in her system but had slurred speech and couldn't follow instructions, Butler said. There's evidence that she used prescription drugs, he said.""People want to believe that bicyclists can protect themselves by wearing the right protective equipment, using the right lights or riding in the correct way,"" said Matt Penniman of the League of Michigan Bicyclists. ""None of those were sufficient to protect these riders, and blaming victims is never appropriate.""WWMT reports Benn is being held on a $1 million cash bond at the Ionia County Jail.This is the second time Benn has appeared in court for charges of operating while intoxicated, the sheriff's office said. Benn is scheduled to appear back in court Aug. 8, according to Ionia County District Court records. In: Michigan Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Woman charged in deaths of 2 bicyclists on Make-A-Wish charity ride in Michigan.
"After months of empty store shelves, the U.S. is still facing a nationwide shortage of baby formula.In fact, a little over 20% of formula products were out of stock in the six weeks leading up to July 24, according to data collected by market research firm Information Resources Inc. (IRI).There is a pretty clear indication of what—or who—is partly responsible for the shortage. In February, the country's biggest infant formula maker, Abbott, recalled multiple products and halted production at one of its facilities in Michigan after bacteria was found at the site. As a result, formula products became more and more scarce. And months later, the country was in a full-blown crisis.""It's kind of like a perfect storm of so many terrible things happening and No. 1, should never have happened in the first place and we could have absolutely prevented it,"" Shazi Visram, founder and CEO of Healthybaby, told CNBC.com.Here's a timeline of exactly how we got to this point:February 2022: The Abbott plant was shut down because bacteria was found at its site, sparking an investigation by the FDA and CDC. At the time, there were reports of contaminated formula that may have been linked to the deaths of two infants and the hospitalization of two other infants with bacterial infections. The investigation uncovered leaks in the roof, cracks in key equipment and a previous citation for inadequate handwashing at the facility.May 2022: More than 40% of the U.S.'s baby formula supplies were out of stock. A representative from CVS confirmed its stores were limiting customers to three baby formula products per purchase, and Target rolled out some online ordering limitations. The CEO of Abbott Laboratories, Robert Ford, apologized in a Washington Post op-ed for the company's role in the shortage on May 21. ""We are making significant investments to ensure this never happens again,"" vowed Ford. He then listed steps the company planned to take to end the crisis like air-shipping millions of cans of powdered baby formula from a facility in Ireland and undergoing rigorous inspections for all Abbott infant formula products.In response to the emergency, President Biden invoked the Defense Protection Act to ensure that manufacturers had the right ingredients to produce safe and healthy formula. Biden also announced a joint plan with Vice President Kamala Harris that included importing millions of bottles of formula—378 million bottles were secured by June 28.June 2022: The same Abbott formula production facility in Michigan was closed down again, this time because of severe storms and flooding throughout the state, CBS reports. The amount of baby formula on store shelves fell to a low point with 22.4% of products out of stock, IRI data shows.July 2022: The Abbott plant reopened and resumed production on July 1, a company spokesperson told Reuters. But in a hearing before a Senate Appropriations subcommittee on July 20, FDA Commissioner Robert Califf said the nationwide shortage ""was a deficit that's going to take a while to fix.""Parents continue to struggle amid the shortageToday, folks across the country are still sharing images of empty shelves on social media. In states like Colorado and Kansas, the amount of baby formula product in stock dropped below 60% in July, according to the data provided by the IRI.At the height of the shortage, parents were forced to take drastic measures to feed their infants, including paying steep prices to scammers who were exploiting the emergency. Many consumers didn't realize they were purchasing from fraudulent sites until the formula they ordered never arrived.Frustrated parents who were either scammed or just desperate to find formula for their babies scrambled for other solutions. Homemade baby formula recipes begin circulating on social media, which is not recommended by the American Academy of Pediatrics who calls it unsafe. And many parents had no choice but to try different formula brands without knowing how their child would react to them.What you can do to find the baby formula you need",The baby formula shortage isn't over and ending it may 'take a while' — here’s a timeline.
"Register now for FREE unlimited access to Reuters.comDAEJEON, Aug 2 (Reuters) - South Koreans may soon be able to carry a device inside their own bodies in the form of a bespoke tattoo that automatically alerts them to potential health problems, if a science team's project bears fruit.Researchers at the Korea Advanced Institute of Science and Technology (KAIST) in the city of Daejeon southwest of Seoul have developed an electronic tattoo ink made of liquid metal and carbon nanotubes that functions as a bioelectrode.Hooked up to an electrocardiogram (ECG) device or other biosensor, it can send a readout of a patient's heart rate and other vital signs such glucose and lactate to a monitor.Register now for FREE unlimited access to Reuters.comThe researchers eventually aim to be able to dispense with biosensors.Water sprays on arm are seen with an electronic tattoo (e-tattoo) for the wettability test at the Korea Advanced Institute of Science and Technology (KAIST) in Daejeon, South Korea, July 26, 2022. REUTERS/Minwoo Park""In the future, what we hope to do is connect a wireless chip integrated with this ink, so that we can communicate, or we can send signal back and forth between our body to an external device,"" said project leader Steve Park, a materials science and engineering professor.Such monitors could in theory be located anywhere, including in patients' homes.The ink is non-invasive and made from particles based on gallium, a soft, silvery metal also used in semiconductors or in thermometers. Platinum-decorated carbon nanotubes help conduct electricity while providing durability.""When it is applied to the skin, even with rubbing the tattoo doesn't come off, which is not possible with just liquid metal,"" Park said.Register now for FREE unlimited access to Reuters.comReporting by Minwoo Park, Daewoung Kim; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.",South Korea develops nanotech tattoo as health monitoring device.
"A United Nations Organization Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO) peacekeepers rides on their helicopter above the compound of United Nations peacekeeping force's warehouse in Goma in the North Kivu province of the Democratic Republic of Congo July 26, 2022. REUTERS/Esdras TsongoRegister now for FREE unlimited access to Reuters.comKINSHASA, Aug 2 (Reuters) - Democratic Republic of Congo's government will reevaluate the withdrawal plan of the United Nations peacekeeping mission after deadly anti-U.N. protests last week, it said late on Monday, suggesting it may ask the force to leave quicker than expected.The government said 29 civilians and four MONUSCO peacekeepers were killed during demonstrations across east Congo. Protesters were demanding that peacekeepers leave the country for failing to protect civilians against militia groups that have wreaked havoc in the region for decades. read more ""Government has been instructed to expedite a meeting with MONUSCO in order to reevaluate its withdrawal plan,"" the statement said, without elaborating.Register now for FREE unlimited access to Reuters.comMONUSCO, which took over from an earlier U.N. operation in 2010, has been gradually scaling down for years and its current mandate ends in December. A spokesperson for the force did not immediately respond to a request for comment.U.N. troops were accused of retaliating with force, and in some cases, live bullets, as hundreds of protesters threw rocks and petrol bombs, vandalised and set fire to U.N. buildings.A government commission sent to assess the aftermath found that 13 people died in clashes in the town of Goma, another 13 - including four peacekeepers - in Butembo, and three in Kanyabayonga, Congo's presidency said.Four protesters were killed in the city of Uvira when troops fired shots which hit an electric cable that fell on them. read more Three civilians died in a separate incident, reported on Sunday, during which soldiers returning from leave to a U.N. intervention brigade opened fire at a border post. read more Around 170 people were wounded, the commission added, noting strong anti-U.N. sentiment among civil society representatives.The U.N. has condemned the violence and vowed to investigate alleged abuses on both sides together with Congolese authorities.MONUSCO had more than 12,000 troops and 1,600 police deployed in Congo as of November 2021, according to its website.U.N. peacekeeping missions have been beset by accusations of abuse for years.Frustrations against MONUSCO were stoked by a recent resurge in clashes between local troops and the M23 rebel group in eastern Congo that have displaced thousands.Attacks by militants linked to Islamic State have also continued despite a year-long state of emergency and joint operations against them by the Congolese and Ugandan armies.Register now for FREE unlimited access to Reuters.comReporting by Stanis Bujakera;
Additional reporting and writing by Sofia Christensen in Dakar; Editing by Estelle Shirbon and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Congo to reassess U.N. withdrawal plan after deadly protests.
"Electricity pylons are seen in Wellingborough, Britain, March 30, 2022. REUTERS/Andrew Boyers/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - Britain's cap on domestic energy prices is expected to rise by 70% in October and remain high until at least 2024, analysts warned on Tuesday, ramping up pressure on politicians vying to become the country's prime minister.The forecast comes as former finance minister Rishi Sunak and foreign secretary Liz Truss battle to become Britain's next leader, with calls for both candidates to expand on how they plan to address soaring inflation and a cost-of-living squeeze.Based on latest wholesale energy prices, the cap on the most widely used household energy contracts is projected to rise by about 70% at the next change in October, taking average annual household dual-fuel bills - covering both gas and electricity - to more than 3,359 pounds ($4,103), said analysts at Cornwall Insights.Register now for FREE unlimited access to Reuters.comA review of support for the next price cap periods should be top of the to-do list for any incoming prime minister, said Craig Lowrey, principal consultant at Cornwall InsightThe cap is expected to rise again in January, to 3,616 pounds a year, and remain above 3,000 pounds a year until at least 2024, Cornwall Insight said.The End Fuel Poverty Coalition campaign group warned that millions of people will face a two-phase cost-of-living crisis this winter if those projections prove accurate.Last May Sunak set out a 15 billion pound package of support for houesholds, saying that each home would receive a 400 pound energy bill credit for when the price cap rises in October, but that was when the forecast price rise was much lower.""Our new figures show that even increasing support for October will not make much of a dent in what is likely to be a sustained period of high energy bills,"" said Cornwall Insight's Lowrey.Either Sunak or Truss will be named the new prime minister on Sept. 5, giving the winner time to announce new support measures before the higher bills arrive in October.Sunak has said he would temporarily scrap value-added tax (VAT) on energy bills if he becomes leader. VAT on domestic energy bills is currently charged at 5%.Truss, meanwhile, has said she would halt green levies on bills, which would reduce bills by less than 8%.Ofgem sets the price cap using a formula that includes suppliers' network costs and environmental and social levies, with wholesale energy prices the largest factor, accounting for more than half of the April cap level.British wholesale gas prices hit record highs after Russia's Feb. 24 invasion of Ukraine and have remained elevated despite falling back from their peak level.Britain receives about 4% of its gas from Russia, but lower overall Russian supply to Europe means competition for gas is intense, pushing prices higher. read more ($1 = 0.8197 pounds)Register now for FREE unlimited access to Reuters.comReporting by Susanna Twidale
Editing by Mark Potter and David GoodmanOur Standards: The Thomson Reuters Trust Principles.","UK energy bills expected to leap again, raising stakes for next PM."
"Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesCommittee publishes report on false data scandal at HinoSays engineers didn't feel able to challenge superiorsEvidence data was falsified at least as far back as 2003TOKYO, Aug 2 (Reuters) - A major affiliate of Japan's Toyota Motor Corp (7203.T) falsified emissions data on some engines going back to at least 2003, more than a decade earlier than previously indicated, a company-commissioned probe showed on Tuesday.The investigative committee tasked by truck and bus maker Hino Motors Ltd (7205.T) blamed the scandal on an environment where engineers did not feel able to challenge superiors, in a rare criticism of corporate culture in Japan.The committee, composed of lawyers and a corporate adviser, was set up by Hino this year after it admitted to falsifying data related to emissions and fuel performance of four engines. Its findings, released on Tuesday, detail an inflexible atmosphere where it was difficult for staff to feel ""psychological safety"", the committee said in a report.Register now for FREE unlimited access to Reuters.comA sense of past success on the part of management helped engender the culture, said committee chairperson Kazuo Sakakibara, who was the former head prosecutor at the Osaka District Public Prosecutors Office.""The magnitude of their past successes has made them unable to change or look at themselves objectively, and they have been unaware of changes in the external environment and values,"" he told a briefing.""The organisation has become an ill-organized one where people are unable to say what they cannot do.""Hino's president, Satoshi Ogiso, apologised to reporters and said management took its responsibilities seriously. He said he had received a message from Toyota's president, Akio Toyoda, who said the misconduct at Hino betrayed the trust of all stakeholders.Hino said it would come up with a new corporate governance system within three months.'SHOULD HAVE BEEN FOUND'The automaker said the committee had found evidence of falsification stretching back to at least October 2003, as opposed to the previously disclosed timeframe of around 2016.The transportation ministry, which revoked the truck maker's certification of the affected engines in March, said it would conduct an on-site investigation of the company. read more Hino has recalled close to 47,000 vehicles made between April 2017 and March this year, and Hino said an additional 20,900 would be recalled.The committee did not find evidence that executives outside the powertrain unit were aware of the misconduct.The division requires high expertise, which hindered personnel changes and allowed misconduct to continue, committee member Makoto Shimamoto said.""Misconducts have been passed down within the unit, but there were no monitoring functions in other units, which is a major issue,"" he said. ""Even if there was no personnel movement within the organization, these issues should have been found.""Ogiso said the company had put quality, compliance and talent development on the backburner as it sought to expand its scale and volume starting around 2000.As a result, numerical targets, such as product development schedules and fuel efficiency, were prioritised over working according to proper processes, he said.Toyota owns 50.1% of Hino. Shares of Hino fell almost 10% on Tuesday.Hino has joined a string of Japanese automakers involved in improper emissions tests.In 2018, the government said Mazda Motor Corp (7261.T), Suzuki Motor Corp (7269.T) and Yamaha Motor Co Ltd (7272.T) had improperly tested vehicles for fuel economy and emissions.Subaru Corp (7270.T) and Nissan Motor Co Ltd (7201.T) were under scrutiny for the same reason the year before.The accuracy of automakers' emissions data was thrown into doubt in 2015 when Germany's Volkswagen AG (VOWG_p.DE) admitted it had installed secret software in hundreds of thousands of U.S. diesel cars to cheat emissions tests and that as many as 11 million vehicles could have similar software worldwide.Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama Additional reporting by Maki Shiraki
Editing by Christopher Cushing, David Dolan and Mark PotterOur Standards: The Thomson Reuters Trust Principles.","Toyota unit falsified emissions data from at least 2003, probe finds."
"A member of the Russian National Guard leaves the building of Russia's Supreme Court before a hearing on whether to designate Ukraine's Azov Regiment as a terrorist entity in Moscow, Russia August 2, 2022. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comSummaryThis content was produced in Russia, where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 2 (Reuters) - Russia's top court on Tuesday designated Ukraine's Azov Regiment as a terrorist group, a Reuters correspondent in the courtroom said, paving the way for captured soldiers to be tried under stringent anti-terror laws and be jailed for up to 20 years.The Azov Regiment, which has far-right and ultra-nationalist roots, has been one of the most prominent Ukrainian military formations fighting against Russia in eastern Ukraine. Having begun as a paramilitary unit fighting against pro-Russian rebels in 2014, it was later integrated into Ukraine's national guard.In a statement, the Azov Regiment said that Russia was looking for new justifications for war crimes, and urged the U.S. State Department to designate Russia a terrorist state.Register now for FREE unlimited access to Reuters.comRussia has regularly cited Azov in support of its assertion that Ukraine is controlled by ""fascists"". Russian state media has compared Azov fighters to World War Two-era Nazis, whose defeat by the Soviet Union remains a core part of Russian national identity.Previously based in the eastern Ukrainian port city of Mariupol, many of the regiment's personnel were captured by Russian forces when the city fell in May after an almost three-month-long siege.Officials in the Donetsk People's Republic, the Russian-backed entity which claims Mariupol as part of its territory, said in May that captured Azov Regiment fighters could face the death penalty under the self-proclaimed republic's laws.Last week, Russia's embassy in London said in a Twitter post that captive Azov personnel should be hung and that they ""deserve a humiliating death"".Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy Faulconbridge and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Russia's supreme court designates Ukraine's Azov Regiment a 'terrorist' group.
"Politics August 2, 2022 / 8:07 AM / CBS News The pause on federal student loan payments is set to expire at the end of this month, but despite the looming deadline, millions of Americans do not have guidance as to whether those payments will actually resume for the first time in more than two years. Federal student loan payments have been on hold for roughly 40 million Americans since the beginning of the coronavirus pandemic. Interest on those loans has also been set at zero percent for the duration of the pause. Most recently, the Biden administration in April extended the pause through August 31. At the time, the White House said the president would make a decision about canceling student loan debt before the pause expired or it would be extended. ""It's an unforced error to be adding more uncertainty to the lives of student loan borrowers at a time where I feel like that word is just defining so much of our experience as workers, as consumers,"" said Cody Hounanian of the Student Debt Crisis Center.Student Loan Servicing Alliance Executive Director Scott Buchanan said the Education Department told student loan servicers to hold off on communications to borrowers regarding the date payments would resume right now.  Buchanan called the lack of an update from the government as of Monday ""extremely problematic."" With repayments still slated to restart in September, he said unless there's a major policy change, the government should have let them start reaching out to borrowers to help with the transition weeks ago.When the payment pause was first initiated under the CARES Act in 2020, borrowers were required to receive six notifications prior to payments resuming. It is not clear whether that still applies.  On Thursday, more than 100 Democratic lawmakers are urging the administration to extend the student loan payment pause. In a letter sent to the president and Education Secretary Miguel Cardona, the lawmakers said borrowers are facing numerous economic issues across the country and there are administration actions in process. In a statement to CBS News, a spokesperson for the Education Department said they will continue to assess the impact of the COVID-19 pandemic and the economy on borrowers and will communicate directly with them about the end of the payment pause when a decision is made.   Even if the pause does expire at the end of the month, it does not mean millions of borrowers will immediately have payments due on Sept. 1. Once the pause ends, borrowers will receive a billing statement or other notification at least 21 days before their next payment is due, according to the Federal Student Aid office. While pressure to extend the pause continues, questions remain over whether the Biden administration will move to cancel student loan debt more broadly. A White House official said Monday the administration ""is continuing to assess options for cancellation and no decision has been made.""Last month, President Biden said he would make a decision on student loans by the end of August. In April, he said there would be answers on student loan forgiveness in the ""next couple weeks."" At the time, Biden confirmed he was considering canceling $10,000 in student loan debt but ruled out canceling $50,000 per borrower, which some Democrats have pushed for.Even just considering the student loan payment pause, the Education Department estimated it has saved borrowers $5 billion a month. That amounts to roughly $150 billion from the time the pandemic began through the end of August. While the Biden administration continues to look into broader student loan debt forgiveness, it has already approved more than $26 billion in targeted student loan forgiveness for more than 1.3 million borrowers through executive action including approximately $8 billion for those who had been defrauded by schools; nearly $9 billion for borrowers with disabilities; more than $8 billion through the public service loan forgiveness program; and more than $1 billion for those whose schools closed.  In: Student Debt Student Loan Sarah Ewall-Wice CBS News reporter covering economic policy. Twitter",Will President Biden extend the pause on student loan payments? Borrowers left wondering as deadline draws closer.
"Photography and reporting by Nacho Doce Filed August 2, 2022, 12:00 a.m. GMT After surviving World War Two, Maria Nikolaevna lived a busy and fulfilling life, raising two children, working as an engineer in the Soviet aerospace industry and cultivating a beautiful garden at the family home in the Ukrainian city of Kharkiv. As she grew old and her husband, Vasilii Emelianovich, died, her horizons narrowed to the confines of her second-floor apartment, the view from the window of children playing on the swings and visits from her daughter who lived nearby. When war returned this year and bombs struck her building after Russia's invasion of Ukraine, Maria's world shrank further - to the confines of a basement across the city. For the past four months, 92-year-old Maria has lived underground with her daughter, son-in-law and the family cat. She gets her only glimpse of natural light by sitting in a doorway at the foot of stairs that run up to the street outside. Kharkiv - Ukraine's second-largest city, in the northeast close to the Russian border - resisted a Russian assault that reached its outskirts in the first two months of the invasion, but has endured almost daily shelling in the past month after a period of relative calm. With both their homes now uninhabitable, the family lives in limbo in the cellar of a friend's apartment block. CONFUSED Maria suffers from mobility problems, progressive memory loss and confusion that has worsened since the attack on her home. ""She has forgotten what the city looks like, she is confused and does not know where to go, what to do, how to lie down, how to sleep, how to hide,"" her daughter Natalya, 58, told Reuters. Natalya holds the family cat Kisiau as they go downstairs, past graffiti that reads “Lord, help us”, to the basement where she lives, July 24, 2022. REUTERS/Nacho Doce ""She does not hear well so we have to write things down. It was very difficult - still is difficult – but we have found a way."" Natalya's home was in one of the most heavily bombarded areas of Kharkiv and she believed her mother would be safer staying in her own residential suburb eight miles away. She arranged for neighbours to take food to Maria and check on her. One night though, a neighbour called to say there had been an explosion next to Maria's apartment and power had been cut. She managed to get through to her mother who was in tears as she tried to dress herself in her pitch black flat. Maria gestures next to her makeshift bedroom, July 26, 2022. REUTERS/Nacho Doce Natalya's husband Fedor found a taxi driver willing to cross the besieged city to retrieve Maria and the few belongings they could grab. ""The taxi driver picked her up, carried her downstairs and very quickly rushed through the city to bring her to safety,"" said Natalya, who did not want to give her surname. ""She can no longer live without us because this has affected her health."" MEDALS War is not new to Maria. As a girl, her family was forced to house a German officer during the occupation of Ukraine in World War Two. The man she would marry fought in that war. Maria and her husband hailed from the same village in the Poltava region but met after the war in nearby Kharkiv where they attended night school, shared a desk and fell in love. Maria then worked as an engineer in Kharkiv's state-owned FED factory that made aerospace parts. ""Because she is a person of the Soviet era and she worked like a Soviet person, she received the maximum amount of money, as an engineer,"" her daughter said. The couple married, had a son and a daughter, and bought an apartment with a garden and a motorbike. ""They left the hard times behind,"" Natalya recalled. Today, as her memory fades, Maria occupies her time reading dog-eared magazines and reordering her husband's medals, among the few things Fedor rescued as she fled her home. A man walks past a destroyed building next to Maria’s house after a military strike, July 23, 2022. REUTERS/Nacho Doce They serve as a talisman: a physical reminder of her family's place in history. They include the Order of the Patriotic War for his involvement in Soviet operations against the Germans and a medal for fighting against Japan at the end of the war. In the basement, Maria sleeps on a mattress laid on wooden pallets in a makeshift ""bedroom"" delineated by three cheap fleece blankets. Bundled in a fleece and thick-collared jacket against the subterranean chill, she lives for WhatsApp calls from her granddaughter Masha, 31, who lives in New York. Maria speaks to her granddaughter Masha, on a phone held by Maria's daughter Natalya, July 23, 2022. REUTERS/Nacho Doce In one call, Maria asked her bemused granddaughter if there was also shooting where she lives. Laughing, Natalya interjected: ""No, mom, it's good there, it's warm and quiet. She (Masha) wants to bring us all there."" Maria beamed and kissed the mobile phone's screen. As regards the future, the family has no answers, only questions, said 62-year-old Fedor. ""When will this war end?  And on whom does it depend? On politicians? On us? On the military? Because it is unacceptable in our time, it is savagery. That my mother-in-law and other old people who are 95 or 97 years old should end their lives in such conditions. The sooner it ends, the better."" The Wider Image Photography and reporting by Nacho Doce Writing by Aislinn Laing Photo editing by Eve Watling Text editing by Gareth Jones Design by Eve Watling","World shrinks to a basement in Ukraine for grandmother, 92."
"Here are the most important news items that investors need to start their trading day:1. Stock futures in the redTraders work on the floor of the New York Stock Exchange (NYSE) in New York City, June 30, 2022.Brendan McDermid | ReutersU.S. stock futures fell Tuesday, as investors worried about inflamed geopolitical tensions between Beijing and Washington ahead of House Speaker Nancy Pelosi's expected visit to Taiwan. Treasury yields also slid Tuesday, with the benchmark 10-year Treasury note trading as low as 2.516%, as investors flocked to the perceived safety of U.S. government debt. Equities in mainland China and Hong Kong tumbled Tuesday, too, and the yen, considered a safe haven currency, further strengthened. On Monday, the major Wall Street stock indexes finished in the red, breaking three-day losing streaks.2. Chinese warplanes reportedly fly near Taiwan Strait's dividing lineAn image of Speaker of the House Nancy Pelosi holding her weekly press conference on Capitol Hill on Friday, July 29, 2022 in Washington, DC. U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.Kent Nishimura | Los Angeles Times | Getty ImagesChinese warplanes flew near the median line in the Taiwan Strait, Reuters reported Tuesday citing a source. Beijing has warned Pelosi against visiting Taiwan, a self-ruled island that China claims as its territory. Pelosi is on a tour of the region, but her expected visit to Taiwan has not been officially announced. Tensions between China and Taiwan have been on the rise in recent years.3. Uber reports another large loss, but shares soarUber CEO Dara Khosrowshahi speaks at a product launch event in San Francisco, California on September 26, 2019.Philip Pacheco | AFP via Getty ImagesShares of Uber Technologies jumped Tuesday after the ride-hailing and food delivery company reported better-than-expected quarterly revenue. Uber's second-quarter sales checked in at $8.07 billion, well ahead of the $7.39 billion analysts projected, according to Refinitiv. However, Uber posted a net loss of $2.6 billion for the quarter, which includes a $1.7 billion hit related to revaluation of its investments in Grab Aurora and Zomato. Losses from operations in the quarter ended June 30 totaled $713 million, but the company did report positive free cash flow of $382 million. In May, CEO Dara Khosrowshahi told employees in a memo that cash flow positivity was becoming an important near-term goal.4. Oil firms boost dividendsA BP logo photographed in London on May 12, 2021. The International Energy Agency recently reported that 2021 saw energy-related carbon dioxide emissions rise to their highest level in history.Glyn Kirk | Afp | Getty ImagesBritish oil giant BP and U.S. shale producer Devon Energy reported strong quarterly profits and raised their dividend payouts, as elevated crude prices this year helped the companies to boost their capital return programs. BP, which on Tuesday posted second-quarter profit of $8.5 billion, hiked its quarterly dividend by 10% to 6.006 cents per ordinary share. Devon Energy, which on Monday turned in better-than-expected Q2 results on the top and bottom lines, announced a 22% increase to its dividend payout. Using a fixed-plus-variable dividend strategy, Devon's quarterly payout now stands at $1.55 per share, up from $1.27.5. Pinterest jumps; activist firm says it's top shareholderA banner for the online image board Pinterest Inc. hangs from the New York Stock Exchange (NYSE) on the morning that Pinterest makes its initial public offering on April 18, 2019 in New York City.Spencer Platt | Getty Images News | Getty ImagesPinterest shares soared around 18% in premarket trading Tuesday, a day after the social media company's quarterly earnings and revenue came in below Wall Street forecasts, and current quarter guidance was weaker than expected. While Pinterest's monthly active user decline wasn't as bad as feared, the company's results nonetheless show the challenging operating environment for social media name right now. Pinterest's stock may be reacting to news that activist investor Elliott Management on Monday revealed it is the company's largest shareholder, touting the ""value-creation opportunity"" it sees.— Sign up now for the CNBC Investing Club to follow Jim Cramer's every stock move. Follow the broader market action like a pro on CNBC Pro.",5 things to know before the stock market opens Tuesday.
"Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 27, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comSummaryCompaniesSpeaker Nancy Pelosi expected in Taipei later todayCaterpillar falls after missing sales estimateUber gains after reporting positive cash flowFutures down: Dow 0.54%, S&P 0.65%, Nasdaq 0.87%Aug 2 (Reuters) - U.S. stock indexes were set to open lower on Tuesday on concerns that a planned visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan could worsen tensions between the United States and China.The latest geopolitical uncertainty comes at a time when financial markets are already dealing with the fallout from a war in Ukraine, energy crisis in Europe, soaring inflation and tightening of financial conditions. read more Shares of chipmakers, which have a large exposure to China, fell in premarket trading. Advanced Micro Devices (AMD.O), Qualcomm (QCOM.O), Intel Corp (INTC.O), Micron Technology Inc (MU.O) and Nvidia Corp (NVDA.O) were down between 0.9% and 1.3%.Register now for FREE unlimited access to Reuters.comThe CBOE volatility index (.VIX), also known as Wall Street's fear gauge, rose to 24.23 points, its highest level in nearly a week.""Chip stocks are really exposed to Asia. Some of them have 70% of their sales, especially chip equipment companies, in that region so it's a big deal for them,"" said Jack DeGan, chief investment officer at Harbor Advisory.Wall Street has kicked off August on a lackluster note following its best monthly performance since 2020 in July amid heightened fears of a global recession, after data showed factory activity weakened across the United States, Europe and Asia. read more Against that backdrop, investors have turned increasingly jittery about the health of corporate America.""Any kind of geopolitical concern can cause traders who gained quite a bit last week to take a little bit (profit) off the table,"" Degan said.At 8:17 a.m. ET, Dow e-minis were down 178 points, or 0.54%, S&P 500 e-minis were down 26.75 points, or 0.65%, and Nasdaq 100 e-minis were down 112.75 points, or 0.87%.Caterpillar Inc (CAT.N) slipped 3.4% after its quarterly sales missed market expectations due to supply-chain issues and the suspension of its Russia operations. read more DuPont de Nemours (DD.N) fell 2% after the industrial materials maker lowered its full-year outlook, while shares of credit-rating company S&P Global Inc (SPGI.N) dipped 2.5% on downbeat 2022 profit forecast. read more Among others, Uber Technologies Inc (UBER.N) jumped 14% after the ride-hailing firm reported positive quarterly cash flow for the first time ever and forecast upbeat third-quarter operating profit. read more Pinterest Inc (PINS.N) surged 17.8% as the activist investor Elliott Investment Management become the largest shareholder of the digital pin-board firm. read more Arista Networks Inc (ANET.N) rose 5.4% after the cloud networking solutions company posted stronger second-quarter results.On the data front, the Labor Department's Job Openings and Labor Turnover Survey (JOLTS) report for June is due at 10 a.m. ET. Economists polled by Reuters are forecasting 11 million vacancies.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.",Wall Street set to open lower as U.S.-China tensions grow.
"Crime August 2, 2022 / 7:11 AM / CBS/AP Jury selection is set to begin in the trial of a Texas taxicab driver accused in the 2008 ""honor killings"" of his two teenage daughters, CBS DFW reports.Yaser Abdel Said was arrested after 12 years on the run in August 2020, in Justin, 36 miles northwest of Dallas. At the time, he was one of the FBI's 10 Most Wanted.  Said's brother Yassein and his son Islam were arrested in Euless, Texas. Both of them were charged with harboring a known fugitive and are now serving time in federal prison. The Egyptian-born suspect had been sought on a capital murder warrant since the New Year's Day 2008 fatal shootings  of the two Lewisville High School students, Sarah Yaser Said, 17, and Amina Yaser Said, 18. Amina and Sarah Said Justice for Sarah and Amina Facebook page A police report at the time said a family member told investigators that the suspect threatened ""bodily harm″ against Sarah for going on a date with a non-Muslim. The mother, Patricia Said, fled with her daughters in the week before their deaths because she was in ""great fear for her life."" Gail Gattrell, the sisters' great-aunt, has called the deaths an ""honor killing,""  in which a woman is murdered by a relative to protect her family's honor. The teenage sisters were found shot multiple times in a cab outside a motel in Irving, a Dallas suburb. Police found them after one of the girls called 911 from a cellphone and said she was dying.""Help,"" said a crying voice on the 911 recording, later determined by police to be that of Sarah Said. ""I'm dying. Oh my God. Stop it."" This undated photo provided by the Irving (Texas) Police Department shows Yaser Abdel Said. AP Police could not immediately find the teens after the 7:33 p.m. call. Much of what Sarah said in the recording was unintelligible, and the dispatcher's repeated requests for her to provide an address went unanswered.An emergency dispatcher received another call about an hour later from an Irving motel. The sisters' bodies were in a cab, one in the front passenger seat and the other in the back. The caller said he could see blood. ""They don't look alive,"" said the caller, whose name was deleted from the recording. In: Texas Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Trial begins for Texas taxicab driver accused in ""honor killings"" of teen daughters in 2008."
"U.S. House of Representatives Speaker Nancy Pelosi sits while signing the guest book as Malaysia's Parliament Speaker Azhar Azizan Harun stands next to her, during their meeting at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Famer Roheni/Handout via REUTERS Register now for FREE unlimited access to Reuters.comHONG KONG/TAIPEI, Aug 2 (Reuters) - Four U.S. warships, including an aircraft carrier, were positioned in waters east of Taiwan on what the U.S. Navy called routine deployments on Tuesday amid Chinese anger over U.S. House of Representatives Speaker Nancy Pelosi's visit the island.The carrier USS Ronald Reagan had transited the South China Sea and was currently in the Philippines Sea, east of Taiwan and the Philippines and south of Japan, a U.S. Navy official told o Reuters.The Japan-based Reagan is operating with a guided missile cruiser, USS Antietam, and a destroyer, USS Higgins.Register now for FREE unlimited access to Reuters.com""While they are able to respond to any eventuality, these are normal, routine deployments,"" said the official, who spoke on the condition of anonymity.They would not comment on precise locations.The official said the amphibious assault ship USS Tripoli was also in the area.Pelosi, a long-time China critic, was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as the United States said it would not be intimidated by Chinese warnings over the visit. read more Signs emerged of military activity on both sides of the Taiwan Strait ahead of Pelosi's visit.Chinese planes flew close to the median line dividing the waterway on Tuesday morning and several Chinese warships had remained close to the unofficial dividing line since Monday, a source briefed on the matter told Reuters.China's defence and foreign ministries did not immediately respond to requests for comment.The source said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait while Taiwanese aircraft were on standby nearby - a move they described as provocative.The person said three other Chinese warships on Tuesday carried out drills to simulate attacks on carrier-borne aircraft in waters east of Taiwan. The ships had been tracked sailing through Japan's southern islands at the weekend, the Japanese Defence Forces said.Neither side's aircraft normally cross the median line.Taiwan's Defense Ministry said it would appropriately send forces in reaction to ""enemy threats"". read more The ministry had reinforced its combat alertness level from Tuesday morning to Thursday noon, the official Central News Agency reported, citing unidentified sources.Since last week, the People's Liberation Army has conducted various exercises, including live fire drills, in the South China, Yellow Sea and Bohai Seas.Some regional military analysts say that increased deployments at a time of tension raise the risk of accidents, even if no side wants an actual conflict.Register now for FREE unlimited access to Reuters.comReporting By Greg Torode and Yimou Lee in Taipei; additional reporting by Yew Lun Tian in Beijing; Editing by Simon Cameron-Moore and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.",U.S. Navy deploys four warships east of Taiwan as Pelosi heads to Taipei.
"Sanjay Poonen, former COO, VMwareScott Mlyn | CNBCCohesity, a startup selling software to back up corporate data, said Tuesday it hired former VMware operating chief Sanjay Poonen to be its next CEO, as the company challenges incumbents like Dell and marches toward an eventual IPO.Poonen told CNBC that he received a call from Cohesity founder Mohit Aron, telling him that he planned to step aside as CEO after running the company for nine years, but he wanted to stick around to work on technology and engineering. Poonen had been largely on the sidelines since leaving VMware in 2021 after an eight-year run.He joins Cohesity at a time when demand is soaring for modern backup systems, because companies are dealing with exponential increases in the size and complexity of their data. It's also a challenging period, with the economy nearing a potential recession and many businesses cutting back on spending. Cohesity, which was valued at $2.5 billion in a 2020 financing round, filed confidentially for an IPO late last year, when the tech market was on a tear.The mood has changed dramatically in 2022, and the market sell-off has resulted in much lower multiples for software makers both private and public.""As a new-coming CEO, you don't want to be in a frothy situation,"" Poonen said. ""It's a great time to join, because there's only upside going forward.""He said there's no specific timetable for a share sale for the company, which has more than 2,100 employees.""No one knows the time,"" he said. ""We watch that carefully. Everyone's in the same boat, evaluating what's the right time.""In Cohesity's market, Dell, IBM and Veritas are the main incumbents. But there's also a set of emerging companies built for the cloud era. In addition to Cohesity, that group includes Druva and Rubrik.Poonen said he wants to see cloud partners such as Amazon Web Services directing their salespeople to introduce Cohesity to more organizations. If customers want to back up data from Microsoft, SAP or Salesforce software in clouds other than Amazon, they can do that with Cohesity, Poonen said.""The profile of this company has not been at the highest level of the media, because they didn't know much about it,"" Poonen said. ""Just my being here brings a lot more awareness to this company.""Cohesity has attracted big-name investors including Amazon, Cisco, Hewlett Packard Enterprise and Sequoia Capital. When Amazon bought a stake in Cohesity last year, Poonen said, the approval came from Andy Jassy, who succeeded Jeff Bezos as CEO of the e-commerce and cloud giant in July 2021.During Poonen's tenure at VMware, he spoke at the virtualization software maker's annual conferences and led sales, marketing and other functions. He said he aims to add clients by prioritizing customer success and building relationships with cloud providers and other partners, rather than just inflating the company's marketing budget.WATCH: Companies should plan for things to go further south and prepare for the worst, says Sanjay Poonen","VMware veteran takes helm of pre-IPO software company Cohesity, though market debut is on hold."
"Russia's President Vladimir Putin, Defence Minister Sergei Shoigu and head of the Russian navy Admiral Nikolai Yevmenov delivers a speech during a parade marking Navy Day in Saint Petersburg, Russia July 31, 2022. Sputnik/Alexei Danichev/Pool via REUTERS Register now for FREE unlimited access to Reuters.comMOSCOW, Aug 2 (Reuters) - The Kremlin told the United States on Tuesday that time was running out to negotiate a replacement for the ""New START"" nuclear arms reduction treaty and that if it expired in 2026 without a replacement then global security would be weakened.The New START Treaty, struck in 2011, obliged the United States and Russia to limit deployed intercontinental ballistic missiles, deployed submarine-launched ballistic missiles and deployed heavy bombers equipped for nuclear armaments.It also put curbs on nuclear warheads on those deployed missiles and bombers and the launchers for those missiles. Both sides reached the central limits of the treaty by Feb. 5, 2018 and it has been extended to the end of Feb. 4, 2026.Register now for FREE unlimited access to Reuters.com""Moscow has repeatedly talked about the need to start such negotiations as soon as possible because there is little time left,"" Kremlin spokesman Dmitry Peskov told reporters.""If the treaty ceases to exist without being replaced with something sound, then it will have the most negative impact on world security and stability,"" Peskov said.New START was only days from expiring when it was renewed last year, and a new deal is likely to require lengthy negotiations along with a time-consuming ratification process.U.S. President Joe Biden said on Monday his administration was ready to ""expeditiously"" negotiate a new framework to replace New START but Moscow should demonstrate that it is ready to resume work on nuclear arms control with Washington.Register now for FREE unlimited access to Reuters.comEditing by Guy Faulconbridge and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.",Kremlin tells U.S. time running out for new nuclear arms deal.
"The Ferrari SP38 seen at Goodwood Festival of Speed 2022 on June 23rd in Chichester, England.Martyn Lucy | Getty ImagesFerrari raised its guidance for 2022 after reporting record results for the second quarter amid unprecedented demand for its high-priced sports and grand touring cars.The Italian supercar maker has been largely immune from the supply-chain disruptions that have forced larger automakers to reduce production over the last several quarters, thanks to its small production volumes. Ferrari's wealthy clientele are also shielded to some extent from the economic concerns that have begun to appear in consumer data.On the strength of its first-half results and robust order book, Ferrari said that it now expects to report earnings per share between 4.80 euros and 4.90 euros for the full year, on revenue of roughly 4.9 billion euros. It had previously told investors to expect full-year earnings per share to fall between 4.55 euros and 4.75 euros, on revenue of about 4.8 billion euros.Ferrari's second-quarter profit, revenue and shipments all rose more than 20% from a year ago to new quarterly records. Its net order intake also hit a record level in the quarter, said CEO Benedetto Vigna in a statement.Here are the key numbers:Earnings per share: 1.36 euros, versus 1.11 euros in the second quarter of 2021.Revenue: 1.29 billion euros, versus 1.04 billion euros in the second quarter of 2021.Ferrari shipped 3,455 vehicles in the quarter, up 29% from a year ago, on strong demand for its V8-powered Portofino M convertible and F8 mid-engine sports car. The company also confirmed that it's begun production of its new V6-powered hybrid 296 GTB sports car.",Ferrari boosts full-year guidance after a record second quarter.
"British Airways said the move — which will run until Aug. 8 — was taken in response to Heathrow's request.Nicolas Economou | NurPhoto | Getty ImagesLONDON — British Airways suspended the sale of short-haul flight tickets departing from London's Heathrow after the airport asked airlines to limit new bookings.In a statement Tuesday, the airline said the move — which will run until Aug. 8 — was taken in response to Heathrow's request.""We've decided to take responsible action and limit the available fares on some Heathrow services to help maximise rebooking options for existing customers, given the restrictions imposed on us and the ongoing challenges facing the entire aviation industry.""Heathrow Airport said it was happy its biggest airline followed the request: ""We are pleased to see action from British Airways, acting responsibly and also putting passengers first.""Europe's biggest airport by passenger numbers announced it would impose a cap of 100,000 daily departing passengers on July 12 as the airline industry continues to struggle with staff shortages.The airport said its decision to restrict numbers was taken ""in the best interests of passengers"" to provide ""better, more reliable journeys this summer.""The capacity cap will be in place until Sep. 11.Heathrow had between 110,000 and 125,000 daily passenger departures in July and August 2019.Similar scenes in mainland EuropeEurope's third-biggest airport, Amsterdam's Schiphol, has also announced a number of passenger caps through the summer.""The purpose of setting a maximum is to ensure the safety of passengers and employees and to create a reliable process at the airport,"" the airport said in a statement.""All efforts are focused on keeping the consequences for travellers to a minimum.""Currently a maximum of 73,000 passengers are able to depart from the Dutch airport, but that number will drop to 67,500 in September. This will then increase to 69,500 in October.",British Airways suspends the sale of short-haul flight tickets from Heathrow.
"The cargo ship ""Maersk Bratan"" of Danish shipping company Maersk is loaded at a container terminal at the harbour in Hamburg, Germany, June 24, 2022. REUTERS/Fabian BimmerRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters Breakingviews) - Shipping giants are sending out an unlikely warning signal about the global economy. Danish behemoth A.P. Moller-Maersk (MAERSKb.CO) said on Tuesday it would probably land a whopping $37 billion of EBITDA this year due to sky-high freight rates. The trouble is its valuation gives minimal credit to what lies beyond the immediate horizon, implying stormier seas ahead.Container operators have been one of the biggest beneficiaries of pandemic-related disruptions. With port closures throwing ocean timetables – and thus global supply chains – into disarray, freight rates have soared as companies fork out hefty premiums to secure berths. Last September, the average cost of moving a container from A to B was $11,000, compared to around $1,300 in 2019, according to forwarder Freightos. With their fixed cost bases, companies like Maersk saw their profits increase fourfold from pre-pandemic levels.Getting the global logistics system back on an even keel thus ran counter to Maersk’s short-term interests. Happily for its shareholders, this hasn’t happened as quickly as expected, mainly due to extended lockdowns in Chinese commercial hubs like Shanghai. Maersk Chief Executive Soren Skou is now predicting $37 billion of EBITDA this year, against a previous forecast of $30 billion.Register now for FREE unlimited access to Reuters.comSuch a hefty adjustment from a firm that controls 17% of global shipping is testament to the unpredictability of freight markets, and illustrates why companies are having trouble forecasting costs. There’s a more worrying omen. Maersk’s $50 billion enterprise value is just 1.4 times Skou’s new 2022 EBITDA estimate, compared to the six or seven times forward multiple at which it traded before Covid-19 struck. In other words, investors are expecting a big fall in EBITDA after this year.The most likely explanation is a precipitous correction in freight rates, triggered by a global recession. Investors may be a little too bearish. JPMorgan analysts value Maersk’s logistics and terminals unit at $30 billion, and reckon Skou can return $26 billion of cash to investors in coming years. If so, its core freight business, which generated 79% of last year’s $62 billion of revenue, is valued at zero, the bank said in a May report. Still, the depressed valuation is a powerful indication of where Maersk shareholders think the world economy is headed.(The author is a Reuters Breakingviews columnist. The opinions expressed are his own.)Follow @edwardcropley on TwitterCONTEXT NEWSA.P. Moller-Maersk raised its 2022 profit guidance on Aug. 2 after beating second-quarter revenue expectations as congested global supply chains boosted freight rates.The Danish shipping group said it now expected $37 billion of underlying EBITDA this year, versus a previous forecast of $30 billion.Maersk shares were up 1.2% at 19,990 Danish crowns by 0745 GMT on Aug. 2.Register now for FREE unlimited access to Reuters.comEditing by Neil Unmack and Streisand NetoOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Maersk’s cash machine is economic storm warning.
"World August 2, 2022 / 7:32 AM / CBS News U.S. offers deal for Brittney Griner release U.S. proposes deal to Russia for Brittney Griner's release 03:18 WNBA star Brittney Griner made her first court appearance Tuesday since the Biden administration revealed it was prepared to engage in a prisoner swap to free Griner and another U.S. citizen in Russian custody, Paul Whelan.Griner was detained in February in a Moscow airport and later charged with drug smuggling. If convicted, she faces up to ten years in prison.In the hearing Tuesday, Griner's defense team continued to argue that a state-appointed forensic expert made technical and procedural errors when examining the cannabis-infused vape cartridges found in her luggage when she arrived in Russia. ""The examination [of the cartridges] does not comply with the legislation regarding the completeness of the study and does not comply with the norms of the [Russian Criminal] Code,"" testified another forensic expert, Dmitry Gladyshev, who was called to the stand by Griner's lawyers. WNBA star Brittney Griner, who was detained at Moscow's Sheremetyevo airport and later charged with illegal possession of cannabis, is escorted before a court hearing in Khimki, outside Moscow, on August 2, 2022. POOL / REUTERS Earlier in the trial, Griner pleaded guilty to carrying cartridges in her bag but maintained that she had packed them by accident and did not intend to violate the Russian law, under which cannabis is prohibited for both medical and recreational purposes. Last week, the Biden administration offered to exchange infamous arms dealer Viktor Bout for Griner and Whelan, who was accused of espionage and handed a 16-year sentence in Russia. Bout is serving a 25-year sentence in an Illinois prison.So far, Russia has had a measured response, saying there have been some bilateral contacts on the matter but that no decision has been reached.CNN previously reported that Moscow had requested the U.S. to do a two-for-two swap and add a former colonel from Russia's domestic spy agency to the exchange. The colonel, Viktor Krasikov, was convicted in Germany last year of murdering a former Chechen fighter in a Berlin park.""We still believe that any exchanges of information on this topic should be discrete,"" Kremlin spokesperson Dmitry Peskov said Tuesday in a press briefing. ""Megaphone diplomacy and public exchange of positions won't lead to a result."" Griner's lawyers said after the hearing that they were not involved in the talks and could not comment on the matter. Deputy chief of mission at the U.S. Embassy in Moscow, Elizabeth Rood, who was present in the courtroom, said the U.S. will continue to do ""everything"" it can to bring American citizens home. In: Brittney Griner Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Brittney Griner in Russian court for first time since proposed prisoner swap was revealed.
"XPeng is still focused in boosting the sales of its electric cars. But it has been focusing on building out future businesses in flying cars and robotics.Qilai Shen | Bloomberg | Getty ImagesChinese e-commerce giant Alibaba and electric vehicle startup Xpeng are opening a computing center to train software for driverless cars, the two companies said Tuesday.Autonomous driving systems require huge amounts of data to be processed in order to train algorithms.Xpeng claims that the new computing center will reduce the training time for its core autonomous driving model from seven days to within an hour.The Guangzhou-headquartered company will use technology from Alibaba's cloud division for its computing needs.Alibaba, an investor in Xpeng, has been trying to bolster its cloud computing division amid a slowdown in its core commerce business. The move also highlights how China's technology giants are trying to jump into the fast-growing electric vehicle space.Tencent, for example, is trying to position itself as the go-to technology company for foreign automakers to use for various automotive technology-related services when they enter the Chinese market.For Xpeng, the move marks its ambitions to pull ahead in the fiercely competitive electric vehicle market in China and attempt to challenge giants Tesla and Warren Buffett-backed BYD. China's electric vehicle startups from Nio to Xpeng see autonomous driving features as a way to do that.Xpeng has an advanced driver-assistance system, or ADAS, called XPILOT installed in some of its vehicles. Users who opt for this feature can get some autonomous features such as automatic lane switching.Last year, Xpeng launched the City NGP, which stands for navigation guided pilot. The system allows Xpeng's cars to change lanes, speed up or slow down, or overtake cars and enter and exit highways. Previously the system was designed just for highways, but it has now been designed for cities too.Xpeng has tried to position itself more like a technology company rather than an automaker and has been investing in areas such as robotics and flying passenger drones.Chinese regulators have, for the most part, been quite encouraging of autonomous driving technology. Various cities across the country have allowed domestic driverless car firms to test and even launch robotaxi services too.",Chinese e-commerce giant Alibaba teams up with Tesla rival Xpeng on tech for driverless cars.
"Conservative leadership candidate Liz Truss speaks during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - Foreign minister Liz Truss, the frontrunner to replace British Prime Minister Boris Johnson, was forced to backtrack on one of the her most striking pledges a day after announcing it after a backlash from fellow Conservatives and opposition parties.In the biggest misstep of her campaign so far, Truss set out plans to save billions of pounds a year in government spending in a change opponents said would require cutting the pay of public sector workers outside of the wealthy south of England.Truss had said late on Monday she would introduce regional pay boards rather than having a national pay agreement, tailoring pay to the cost of living where people actually work.Register now for FREE unlimited access to Reuters.comBut on Tuesday, a spokesperson for Truss said: ""Our hard-working frontline staff are the bed rock of society and there will be no proposal taken forward on regional pay boards for civil servants or public sector workers.""The spokesperson said there had been a ""wilful misrepresentation of our campaign"" and current levels of public sector pay would be maintained.The change in policy came as a poll showed Truss has a smaller lead over her rival Rishi Sunak than previously thought.Truss is backed by 48% of Conservative Party members compared with 43% for former finance minister Sunak, according to the poll of 807 people by Italian data company Techne, carried out July 19-27.This suggests a much tighter race than a previous poll of Conservative members carried out by YouGov on July 20-21 that showed Truss with a 24-point lead over Sunak. read more ""SPEECHLESS""Truss's public sector pay plan had faced criticism from the main opposition party and some Conservative lawmakers.Sunak supporter Ben Houchen, the Conservative mayor of Tees Valley, said he was ""speechless” at the proposal.""There is simply no way you can do this without a massive pay cut for 5.5m people including nurses, police officers and our armed forces outside London,"" he said.Labour’s deputy leader, Angela Rayner, said Truss’s plans showed the Conservative government’s commitment to reducing inequalities between the north and south of Britain ""is dead"".Sunak and Truss are competing in a summer tour of hustings around Britain for the votes of about 200,000 Conservative members, who will select the next prime minister, with the winner announced Sept. 5.Taxes have dominated the race so far. Sunak has accused Truss of being ""dishonest"" with voters with her promises of major tax cuts as soon as she enters office. Sunak said he would make sure inflation is under control before cutting taxes, something Truss says would push the country into recession.Over 60% of Conservative members in the Techne poll said Truss had better ideas on taxes than Sunak, and they also supported her plans to tackle inflation and handle immigration. However, respondents said Sunak was more trusted to deliver on Brexit and had better policies on education.John Curtice, a professor of politics at the University of Strathclyde and one of Britain's leading experts on polling, said on Monday he was not sure the race was over.""We have to bear in mind that since Tory MPs decided that this was the contest between Rishi Sunak and Liz Truss, we have had one, I repeat one, opinion poll of the people who will actually have a vote,"" he told GB News.Register now for FREE unlimited access to Reuters.comReporting by Andrew MacAskill and Kylie MacLellan
Editing by Tomasz Janowski and Christina FincherOur Standards: The Thomson Reuters Trust Principles.",UK leadership candidate Truss forced into U-turn on public sector pay.
"The TD bank logo is seen on top of the Toronto Dominion Canada Trust Tower in Toronto, Ontario, Canada March 16, 2017. Picture taken March 16, 2017. REUTERS/Chris Helgren/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Canada's Toronto Dominion Bank (TD.TO) will buy New York-based boutique investment bank Cowen (COWN.O) in a $1.3 billion all-cash deal to boost its presence in the high-growth U.S market.Cash-rich Canadian banks have been on a shopping spree in the United States in recent months as they try to find growth away from their home turf where the Big Six banks already control nearly 90% of the market. read more The deal announced on Tuesday values each share of Cowen at $39, representing a premium of nearly 10% to the company's last closing price. Cowen shares rose 8% in premarket trading.Register now for FREE unlimited access to Reuters.comCowen was founded more than a century ago and offers investment banking and brokerage services to its clients.Earlier this year, TD signed its largest-ever deal when it agreed to buy regional U.S. bank First Horizon (FHN.N) for $13.4 billion to expand in the southeastern region of the country.The companies expect the deal to close in the first quarter of 2023.Register now for FREE unlimited access to Reuters.comReporting by Manya Saini in Bengaluru; Editing by Aditya SoniOur Standards: The Thomson Reuters Trust Principles.",Canada's TD Bank to buy U.S. brokerage Cowen in $1.3 bln deal.
"Russian Defence Minister Sergei Shoigu delivers a speech during an expanded meeting of the Defence Ministry Board in Moscow, Russia December 21, 2021. Sputnik/Mikhail Tereshchenko/Pool via REUTERS Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Russian Defence Minister Sergei Shoigu said on Tuesday that Russia had destroyed six U.S.-made HIMARS missile systems since the beginning of the conflict in Ukraine, Interfax reported.Shoigu said Russia had also destroyed five anti-ship Harpoon missile launch systems and 33 M777 howitzers since Moscow deployed tens of thousands of troops to Ukraine on Feb. 24.Reuters could not verify the accuracy of the reports.Ukraine officials have said they operate up to a dozen HIMARS systems, whose accuracy and long-range have allowed Kyiv to reduce Russia's artillery advantage.Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.",Russia's Shoigu says 6 Ukrainian HIMARS systems destroyed -Interfax.
"Crime August 2, 2022 / 6:22 AM / CBS/AP A man accused of fatally shooting an Indiana police officer during a traffic stop had made a song about killing an officer, investigators said Monday.Carl Boards II was charged with murder and other crimes, a day after Elwood Officer Noah Shahnavaz was gunned down in the wee hours Sunday in Madison County, about 50 miles northeast of Indianapolis.The 24-year-old officer was shot in the head after stopping Boards' car. Investigators found 36 rifle bullet casings and damage to the patrol car's hood, windshield and driver's door. An Indiana State Police detective spoke with his family, who told them that Boards called them on FaceTime while he was fleeing law enforcement, WTTV reported, citing court documents. In this photo provided by the Indiana State Police, Elwood, Indiana, police Officer Noah Shahnavaz is pictured in an undated photo.  / AP Shahnavaz' gun was still in its holster when he was taken to a hospital, Richard Clay of the Indiana State Police said in a court filing. Boards, 42, owns a barber shop in Marion, Indiana. Police went to the shop and interviewed a man who lives in an apartment above the business.The man indicated that Boards ""made a recorded song making statements that if he was ever caught by police that he would kill them,"" Clay said.Boards was released from parole a year ago. His criminal record goes back to 1999 and includes convictions involving guns and drugs, Clay said.It wasn't immediately known if Boards has an attorney yet who could comment on the allegations. Shahnavaz served in the U.S. Army for five years before becoming a police officer about a year ago. WTTV reported that he served with the 591st Military Police Company out of Fort Bliss, Texas.""He was everything you'd want in a police officer; every attribute, every characteristic,"" said Nolan Demers, a close friend who served with Shahnavaz. ""He just pursued his dreams and he wouldn't let anything get in the way of that.""Fishers High School Principal Jason Urban said Shahnavaz was ""full of talent.""""His dream was to serve others and we are proud of what he accomplished in such a short time, both in the military and with Elwood police,"" Urban said. ""The entire FHS Tiger family grieves this tragic loss of such a promising young man full of talent and potential."" In: Indiana Murder Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Man charged in slaying of Indiana cop made a song about killing an officer, investigators say."
"U.S. Secretary of State Antony Blinken spoke of fears over a nuclear accident in Ukraine. He told reporters late Monday that there are ""credible reports"" that Russia ""is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant.""Meanwhile, the first shipment of grain exports from Ukraine in months departed Monday from the port of Odesa. Ukrainian President Volodymyr Zelenskyy called the shipment a ""positive signal.""Russia faces ‘economic oblivion’Russian President Vladimir Putin attends a plenary session at the Strong Ideas for a New Time forum held by Agency for Strategic Initiatives (ASI) in Moscow, Russia July 20, 2022.Alexey Maishev | Kremlin | Sputnik | via ReutersRussia is facing ""economic oblivion"" in the long-term because of international sanctions and the flight of businesses, several economists have said.Many see long-lasting costs to the Russian economy from the exit of foreign firms – which will hit production capacity and capital and result in a ""brain drain"" – along with the loss of its long-term oil and gas markets and diminished access to critical imports of technology and inputs.Read the full story here.—Elliot SmithBP's Gelsenkirchen plant no longer uses Russian crudeShares of BP are up over 20% year-to-date.Sopa Images | Lightrocket | Getty ImagesAmid its second-quarter earnings update Tuesday, BP CEO Bernard Looney said that the firm's refinery in Gelsenkirchen, Germany, no longer uses Russian crude, down from 50%.Oil majors have been one of many sectors that have cut or significantly reduced their exposure to Russia following its invasion of Ukraine.Back in late February, BP announced it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company.— Matt ClinchUS 'deeply concerned' of Russian control of Ukrainian nuclear facilities, Blinken saysU.S. Secretary of State Antony Blinken speaks at the tenth annual review of the Nuclear Non-Proliferation Treaty at U.N. headquarters on August 01, 2022 in New York City.Spencer Platt | Getty ImagesSecretary of State Antony Blinken said the U.S. is ""deeply concerned"" about reports that Russian forces have taken over nuclear facilities in Ukraine.""There are credible reports, including in the media today, that Russia is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant,"" Blinken told reporters at the United Nations, adding that this was ""the height of irresponsibility.""""And of course, the Ukrainians cannot and will not fire back, lest there be a terrible accident involving a nuclear plant,"" he said.Blinken said that it was important that the International Atomic Energy Agency be granted access to nuclear facilities in order to safeguard against an accident.— Amanda MaciasGermany argues over nuclear shutdown amid gas supply worriesSteam rises from the cooling tower of the nuclear power plant (NPP) Isar 2 in Essenbach Germany.Armin Weigel | Picture Alliance | Getty ImagesRising concern over the impact of a potential Russian gas cutoff is fueling the debate in Germany over whether the country should switch off its last three nuclear power plants as planned at the end of this year.The door to some kind of extension appeared to open a crack after the Economy Ministry in mid-July announced a new ""stress test"" on the security of electricity supplies. It's supposed to take into account a tougher scenario than a previous test, concluded in May, that found supplies were assured.Since then, Russia has reduced natural gas supplies through the Nord Stream 1 pipeline to Germany to 20% of capacity amid tensions over the war in Ukraine. It cited technical issues that Germany says are only an excuse for a political power play. Russia recently has accounted for about a third of Germany's gas supply, and there are concerns it could turn off the tap altogether.The main opposition Union bloc has made increasingly frequent demands for an extension of the nuclear plants' lives. Similar calls are coming from the smallest party in Chancellor Olaf Scholz's coalition government, the pro-business Free Democrats.— Associated PressMacron tells Zelenskyy that Russian war crimes will not go unpunishedFrench President Emmanuel Macron says he's in favor of a price cap on Russian oil as he speaks to the media on the third and final day of the G7 summit at Schloss Elmau on June 28, 2022 near Garmisch-Partenkirchen, Germany.Sean Gallup | Getty Images News | Getty ImagesFrench President Emmanuel Macron told Ukrainian President Volodymyr Zelenskyy in a phone call that war crimes committed by Russian forces will ""not go unpunished.""""While war crimes are multiplying, the President of the Republic reaffirmed his support for the Ukrainian people and their resistance and declared his determination to ensure that these crimes do not go unpunished,"" a French presidential office source wrote in a readout of the call.During the call, the 36th exchange between the two leaders since Russia's war in Ukraine began, Macron said that France would send a team of forensic experts and a mobile DNA analysis laboratory to Ukraine.— Amanda MaciasRead CNBC's previous live blog here:",U.S. fears Russia is using a 'nuclear shield' in Ukraine; Zelenskyy calls grain shipment a 'positive signal'.
"Register now for FREE unlimited access to Reuters.comSummaryGriner faces up to 10 years in prisonVerdict expected 'very soon', lawyer saysU.S. made Russia an offer for her releaseKremlin tells U.S. to curb 'megaphone diplomacy'This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.KHIMKI, Russia, Aug 2 (Reuters) - The Russian drugs trial of U.S. basketball star Brittney Griner should be over ""very soon"", her lawyer said on Tuesday, as the Kremlin warned the United States that megaphone diplomacy would not secure a prisoner swap for the 31-year-old Texan.Griner, a two-time Olympic gold medallist and a Women's National Basketball Association (WNBA) star, was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing hashish oil in her luggage.She has pleaded guilty to the drugs charges against her but has denied that she intended to break Russian law. She faces up to 10 years in prison.Register now for FREE unlimited access to Reuters.comLawyer Maria Blagovolina, partner at Rybalkin, Gortsunyan, Dyakin and Partners law firm, said a verdict in the case was expected ""very soon."" The defence and prosecution are expected to deliver their closing arguments on Thursday.The case against Griner has highlighted Russia's fraught relations with the United States, which have plunged to a new post-Cold War low over Moscow's actions in Ukraine.Blagovolina said Griner heard that Washington had made what Secretary of State Antony Blinken called a ""substantial offer"" to Moscow to release American citizens held in Russia. read more Kremlin spokesman Dmitry Peskov, who had expressed surprise at the public nature of Blinken's comments at the time, said on Tuesday that any talk of a possible swap needed to be discreet.U.S. basketball player Brittney Griner, who was detained at Moscow's Sheremetyevo airport and later charged with illegal possession of cannabis, looks on inside a defendants' cage before a court hearing in Khimki outside Moscow, Russia August 2, 2022. REUTERS/Evgenia Novozhenina/Pool ""We still believe that any exchanges of information on this topic should be discreet,"" Peskov told reporters on a conference call. ""Megaphone diplomacy and the public exchange of opinions will not lead to results.""'THE END IS NEAR'Griner, who appeared in Khimki District Court outside Moscow in a plain khaki T-shirt and round-rimmed glasses, was both focused and nervous as her trial approaches its end, her lawyer said.""She still knows that the end (of her trial) is near and of course she heard the news, so she is hoping that sometime she could be coming home,"" Blagovolina said.A source said that Washington was willing to exchange convicted arms trafficker Viktor Bout, known as the ""Merchant of Death"".Blagovolina said a swap was ""legally possible"" after the verdict, which is expected no later than mid-August.Griner testified last week that she could not understand how the vape cartridges had ended up in her luggage, speculating that she had inadvertently packed them as she rushed to leave. read more Griner had been her way to join her Russian team, UMMC Ekaterinburg, for the playoffs after spending time at home in the United States.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.","Griner's Russian trial should be over 'very soon', lawyer says."
"Samburu pastoralist slaughter livestock in the de-stocking of emaciated animals in a program by the government and the Kenya Red Cross to buy livestock, slaughter and distribute the meat as relief food to the most affected families following a prolonged drought near Lengusaka in Wamba, Samburu county, Kenya July 27, 2022. REUTERS/Thomas MukoyaRegister now for FREE unlimited access to Reuters.comLENGUSAKA, Kenya, Aug 2 (Reuters) - In Kenya's northern Samburu County, severe drought has forced herders to migrate hundreds of kilometres in search of pasture and water, meaning some may have to skip voting in elections set for Aug. 9.People are more focused on trying to save their animals and livelihoods than on casting their ballots.""The problem is that our pastoralists have gone very far to look for pasture... They will not get a chance of coming back to vote,"" said Paul Paradisi, administrator of Koiting Location in Samburu County with about 6,800 residents.Register now for FREE unlimited access to Reuters.comPoor rainfall means around four million people in Kenya are currently facing acute food shortages, and cases of child malnutrition have surged by half in parts of the country. read more To cushion the impact, the government and Kenya Red Cross will spend some 24 million shillings ($202,190) to buy livestock for slaughter in Samburu County.The meat from the animals will be given back to the herders after they have been killed.Mary Yanaiyo, mother of eight from Koiting Location, told Reuters that people were suffering because the rains had failed and food prices skyrocketed.""The children went to graze the cows far away and we don't know when they will come back,"" she said, as government officials and Red Cross personnel distributed meat behind her.Kenya holds presidential, parliamentary and local government elections on Aug. 9.($1 = 118.7000 Kenyan shillings)Register now for FREE unlimited access to Reuters.comReporting by Thomas Mukoya; Writing by George Obulutsa; Editing by Alexander Winning and Gareth JonesOur Standards: The Thomson Reuters Trust Principles.","In northern Kenya, drought may keep some herders from voting."
"Billions of dollars of value have been wiped off the cryptocurrency market in recent months. Companies in the industry are feeling the pain. Lending and trading firms are facing a liquidity crisis and many firms have announced layoffs.Yu Chun Christopher Wong | S3studio | Getty ImagesHackers drained almost $200 million in cryptocurrency from Nomad, a tool that lets users swap tokens from one blockchain to another, in yet another attack highlighting weaknesses in the decentralized finance space.Nomad acknowledged the exploit in a tweet late Monday.""We are aware of the incident involving the Nomad token bridge,"" the startup said. ""We are currently investigating and will provide updates when we have them.""It's not entirely clear how the attack was orchestrated, or if Nomad plans to reimburse users who lost tokens in the attack. The company, which markets itself as a ""secure cross-chain messaging"" service, wasn't immediately available for comment when contacted by CNBC.Blockchain security experts described the exploit as a ""free-for-all."" Anyone with knowledge of the exploit and how it worked could seize on the flaw and withdraw an amount of tokens from Nomad — sort of like a cash machine spewing out money at the tap of a button.It started with an upgrade to Nomad's code. One part of the code was marked as valid whenever users decided to initiate a transfer, which allowed thieves to withdraw more assets than were deposited into the platform. Once other attackers cottoned on to what was going on, they deployed armies of bots to carry out copycat attacks.""Without prior programming experience, any user could simply copy the original attackers' transaction call data and substitute the address with theirs to exploit the protocol,"" said Victor Young, founder and chief architect of crypto startup Analog.""Unlike previous attacks, the Nomad hack became a free-for-all where multiple users started to drain the network by simply replaying the original attackers' transaction call data.""Sam Sun, research partner at crypto-focused investment firm Paradigm, described the exploit as ""one of the most chaotic hacks that Web3 has ever seen"" — Web3 being a hypothetical future iteration of the internet built around blockchain technology.Nomad is what's known as a ""bridge,"" a tool that lets users exchange tokens and information between different crypto networks. They're used as an alternative to making transactions directly on a blockchain like Ethereum, which can charge users high processing fees when there's lots of activity happening at once.Instances of vulnerabilities and poor design have made bridges a prime target for hackers seeking to swindle investors out of millions. More than $1 billion in crypto assets has been stolen through bridge exploits so far in 2022, according to a report from crypto compliance firm Elliptic.In April, a blockchain bridge called Ronin was exploited in a $600 million crypto heist, which U.S. officials have since attributed to the North Korean state. Some months later, Harmony, another bridge, was drained of $100 million in a similar attack.Like Ronin and Harmony, Nomad was targeted through a flaw in its code — but there were a few differences. With those attacks, hackers were able to retrieve the private keys needed to gain control over the network and start moving out tokens. In Nomad's case, it was much simpler than that. A routine update to the bridge enabled users to forge transactions and make off with millions' worth of crypto.",Hackers drain nearly $200 million from crypto startup in 'free-for-all' attack.
"Containers stored on a lot are seen among warehouses in Fontana, California, U.S., July 17, 2022. REUTERS/Lisa BaertleinSAN BERNARDINO, Calif., Aug 2 (Reuters) - America's largest warehouse market is full as major U.S. retailers warn of slowing sales of the clothing, electronics, furniture and other goods that have packed the distribution centers east of Los Angeles.The merchandise keeps flooding in from across the Pacific, and for one of the busiest U.S. warehouse complexes, things are about to get worse.Experts have warned the U.S. supply chain would get hit by the ""bullwhip effect"" if companies panic-ordered goods to keep shelves full and got caught out by a downturn in demand while shipments were still arriving from Asia.Register now for FREE unlimited access to Reuters.comIn the largest U.S. warehouse and distribution market - stretching east from Los Angeles to the area known as the ""Inland Empire"" – that moment appears to have arrived.""We're feeling the sting of the bullwhip,"" said Alan Amling, a supply-chain professor at the University of Tennessee.The sprawl of Inland Empire warehouses centered in Riverside and San Bernardino counties grew quickly in recent years to handle surging demand and goods imported from Asia.That booming area, visible from space, anchors an industrial corridor encompassing 1.6 billion square feet of storage space that extends from the busiest U.S. seaport in Los Angeles to near the Arizona and Nevada borders. That much storage space is nearly 44 times larger than New York City's Central Park and 160 times bigger than Tesla Inc's (TSLA.O) new Gigafactory in Texas.But a consumer spending pullback now threatens to swamp warehouses here and around the country with more goods than they can handle - worsening supply-chain snarls that have stoked inflation. Retailers left holding unwanted goods are faced with the choice of paying more money to store them or denting profits by selling them at discount.Inland Empire warehouse vacancies are among the lowest in the nation, running at a record 0.6% versus the national average of 3.1%, according to real estate services firm Cushman & Wakefield. The market is poised to get even tighter as shoppers at Walmart (WMT.N), Best Buy (BBY.N) and other retailers retreat from early COVID-era spending binges.BINGE TO BACKLOGWhile U.S. consumer spending remains above pre-pandemic levels, retailers and suppliers are raising alarms about backlogs in categories that have fallen out of fashion as consumers catch up on travel and struggle with the highest inflation in 40 years.Last week, Walmart said surging food and fuel prices left its lower-income customers with less cash to spend on goods, and Best Buy said shoppers were curbing spending on discretionary products like computers and televisions. read more Those cautionary signals followed Target Corp's (TGT.N) alert that it was saddled with too many TVs, kitchen appliances, furniture and clothes. read more Suppliers - ranging from barbecue grill maker Weber Inc (WEBR.N) to Helen of Troy Ltd (HELE.O), a consumer brands conglomerate that includes OXO kitchen tools - also have warned of slowing demand and an urgent need to clear inventories.While the U.S. economy was downshifting, goods kept pouring in at near-record levels.Imports to U.S. container ports that process retail goods from China and other countries jumped more than 26% in the first half of 2022 from pre-pandemic levels, according to Descartes Datamyne. Christmas shipments and the reopening of major Chinese factory hubs could goose volumes further.Meanwhile, cargo keeps flooding in to the busiest U.S. seaport complex at Los Angeles/Long Beach. During the first half of this year, dockworkers there handled about 550,000 more 40-foot containers than before the pandemic started, according to port data.Christmas toys and winter holiday decor landed on those docks in July, along with some patio furniture for Walmart and stretch pants, jeans and shoes for Target, said Steve Ferreira, CEO of Ocean Audit, which scrutinizes marine shipping invoices.Retailers ordered most of those goods months ago and many are destined for the Inland Empire's already jam-packed warehouses.""It's a domino effect. Now the inventory is going to really build up,"" said Scott Weiss, a vice president at Performance Team, a Maersk (MAERSKb.CO) company with 22 warehouses in greater Los Angeles.Demand for space in the Inland Empire is so intense that when 100,000 to 200,000 square feet of space frees up, it ""gets gobbled up in a second,"" said Weiss.SEARS AND PARKING LOTSInvestors have almost 40 million square feet under construction in the Inland Empire - including Amazon.com Inc's (AMZN.O) biggest-ever warehouse - and at least 38% is spoken for, said Dain Fedora, vice president of research for Southern California at Newmark, a commercial real estate advisory firm.While Amazon's 4.1 million square-foot facility rises on former dairy land in the city of Ontario, the online retailer has been shelving construction plans in other parts of the country.Amazon is the biggest warehouse tenant in the Inland Empire and the nation. Its decision to scale back on building, coupled with rising interest rates and the slowing economy, is sidelining other would-be Inland Empire warehouse builders, area real estate brokers and economists told Reuters.Meanwhile, the scramble for space continues.Trucking company yards and spare lots around the region have already been converted to makeshift container storage, so entrepreneurs are marketing vacant stores as last-resort warehouses in waiting.Brad Wright is CEO of Chunker, which bills itself as an AirBNB for warehouses, and works with everyone from state officials to the owners of vacated big-box stores to find new places to stash goods.During a recent tour at the former Sears anchor store in San Bernardino's Inland Center mall, Wright and a potential tenant strolled past collapsed ceiling tiles, sagging wall panels and idled escalators while working out how forklifts would navigate the abandoned space. Wright sees the empty stores as one answer to easing the log jams.""There's a lot of them sitting around, and they're in good locations,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Lisa Baertlein in Los Angeles
Additional reporting by Siddharth Cavale in New York
Editing by Kevin Krolicki, Ben Klayman and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",America's biggest warehouse is running out of room. It's about to get worse.
"Shipping company Maersk raised its 2022 profit guidance after exceeding quarterly revenue expectations.Photo by JOHN THYS/AFP via Getty ImagesMaersk raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenueexpectations as congested global supply chains that have boosted freight rates persist longer than expected.The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in key ports in China, Europe and the United States.""Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated,"" Maersk said in a statement.It now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of around $37 billion versus the $30 billion it forecast earlier. Maersk had initially expected full-year EBITDA at $24 billion.The new guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year.The Copenhagen-based company is often seen as a barometer for global trade as it transports goods for retailers and consumer companies such as Walmart, Nike and Unilever.Electrolux, Europe's biggest home appliances maker, last month missed second-quarter profit expectations in part due to supply chain problems, but said the supply chain situation looked better for the third and fourth quarters.German shipping company Hapag-Lloyd last week also raised its earnings outlook for 2022.Maersk, one of the world's biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures.Shares in Maersk were trading up 1.1% at 0825 GMT after touching their highest levels since early June.Revenue in the second quarter stood at $21.7 billion, it said, above the $19.7 billion forecast by analysts in a poll gathered by the company.Underlying EBITDA was $10.3 billion, compared to the $8.2 billion forecast by analysts.""The strong result is driven by the continuation of the exceptional market situation within ocean (container shipping),"" the company said.Maersk is due to publish a full set of results for the second quarter on August 3.",Maersk sees global supply chain woes for longer; lifts 2022 profit guidance.
"Boats moor next to living rooms on Fiji's Serua Island, where water breaches the seawall at high tide, flooding into the village. Planks of wood stretch between some homes, forming a makeshift walkway as saltwater inundates gardens. Village elders always believed they would die here on prized land where their chiefs are buried. 16 Jul 2022. Veivatuloa, Fiji. Reuters/Loren Elliott Seawater floods past an ineffective sea wall into the community of Veivatuloa Village. But as the community runs out of ways to adapt to the rising Pacific Ocean, the 80 villagers face the painful decision whether to move. Semisi Madanawa, raising three children who wade through playgrounds, says that given the flooding, erosion and exposure to extreme weather, the village must relocate to Fiji's main island to secure a future for the next generation. 15 Jul 2022. Serua, Fiji. Reuters/Loren Elliott Local girl Tokasa Robanakadavu, 10, wades through seawater flooding her community during high tide in Serua Village. Village elders are resisting, wondering if land reclamation might stop the sea from taking Serua Island's homes and ancestral burial sites, he says. ""It takes time for an idea to settle in the hearts of us human beings so we can accept the changes that are coming,"" says Madanawa, 38. ""Climate change is happening and we need to make a decision."" 15 Jul 2022. Serua, Fiji. Reuters/Loren Elliott From (L) Local students Jona Togaciri, Talikai Kavu, Semisi Dradra, Tavaga Dradra and Joanna Dradra gather at the edge of a flooded sea wall during high tide, while working on a boat motor in Serua Village. Serua Island is one of many coastal villages making difficult decisions about their future, seeking government assistance for expensive projects to adapt or move, say Fiji government officials. Leaders of 15 low-lying Pacific island nations declared climate change their ""single greatest existential threat"" at a mid-July summit in Fiji's capital, Suva. 14 Jul 2022. Serua, Fiji. Reuters/Loren Elliott Local boy Ratukali Madanawa, 8, takes a break from diving in the sea at Serua Village. Facing some of the most direct effects of climate change, they want developed nations, who contributed the most to global warming, not only to curb their emissions but to pay for the steps that islanders must take to protect their people from rising sea levels. The push has become a key battle at United Nations climate conferences. Building seawalls, planting mangroves and improving drainage are no longer enough to save villages in many cases, says Shivanal Kumar, a climate-change adaptation specialist in Fiji's economy ministry. 16 Jul 2022. Veivatuloa, Fiji. Reuters/Loren Elliott Roemoni Tubivuna and his grandson Roemoni Tubivuna Jr., 10, prepare for a fishing outing at Veivatuloa Village. ""A lot of communities are in genuine crisis, they've been trying to survive,"" he says. ""The impacts of climate change have been felt for many years and there came a time where they gave up and said it's now time to move."" Relocation aims to preserve human rights by protecting people from rising seas, bigger storm surges and more extreme cyclones, Kumar says. 15 Jul 2022. Serua, Fiji. Reuters/Loren Elliott Village children pass the time in front of a home next to a flooding sea wall at high tide in Serua Village. But the funds pledged by developed nations at U.N. climate conferences do not cover relocation, only adaptation, such as building a seawall, officials say. At last year's global climate conference, called COP26, developed nations agreed only to keep talking about compensation for the unavoidable impacts of climate change, including migration, suffered by vulnerable societies. 19 Jul 2022. Vunidogoloa, Fiji. Reuters/Loren Elliott Local residents fish in front of the abandoned site of the old Vunidogoloa Village. The Pacific leaders at their summit called for developed nations to show meaningful progress at COP27 on a new goal - swift funding for such ""loss and damage"". The president of COP26, British politician Alok Sharma, said in Suva on Wednesday he understood the disappointment of Pacific villagers on the front line of climate change. 17 Jul 2022. Vunidogoloa, Fiji. Reuters/Loren Elliott Community members gather for a Sunday church service in Vunidogoloa Village. ""You are forced to deal with the consequences of greenhouse gas emissions generated largely by the biggest emitting countries, who are a long way from here. This is not a crisis of your making,"" he said in a speech. ""We are going to have to find a way of having a substantive discussion on loss and damage at COP27."" 20 Jul 2022. Vunidogoloa, Fiji. Reuters/Loren Elliott Children get off a school bus as they return home for the day to the new relocated site of Vunidogoloa Village. Fiji, an archipelago of hundreds of islands some 2,000 km (1,200 miles) north of New Zealand, in 2014 became the first Pacific island nation to relocate a community because of rising sea levels. Six villages have moved or plan to with government support, but a new process to prioritise the most urgent relocations is still under development. A further 795 will need to move, says climate youth activist Salote Nasalo, who says she loses sleep thinking about where they can go. Pacific youth will continue protesting against inaction on financing by the big emitters, says Nasolo, a University of South Pacific student. 18 Jul 2022. Vunidogoloa, Fiji. Reuters/Loren Elliott The inland relocated site of Vunidogoloa Village. The first community to relocate was Vunidogoloa, after villagers invited officials to see how they lived with water up to their knees. Saltwater had destroyed the ability of the 150 residents to grow crops, taking away livelihoods and food security, says former village headman Sailosi Ramatu. In the new village 1.5 km (1 mile) inland on Vanua Levu Island, children now sit outside their homes, dry feet planted firmly on the ground. Story Ramatu, 63, says it took time to persuade the elders to move, but the village came together and listened to experts.""We can also make a decision in the world if the leaders come together,"" he says. ""They should help us, they should pay for our loss and damage.""(Reporting by Kirsty Needham in Suva and Loren Elliott in Serua; Writing by Kirsty Needham; Photo Editing by Gabrielle Fonseca Johnson;Text Editing by William Mallard; Layout by Marta Montana Gomez)",Rising sea levels are forcing Fiji's villagers to relocate. They want polluters to pay instead.
"A passenger walks near Uber signage after arriving at Los Angeles International Airport (LAX) in Los Angeles, California, U.S. July 10, 2022. REUTERS/David Swanson/File Photo Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Uber Technologies Inc (UBER.N) on Tuesday reported positive quarterly cash flow for the first time ever and forecast third-quarter operating profit above estimates, betting on steady demand for its ride-hailing and food-delivery services.Uber shares, which have lost more than 40% this year, surged 15% to $28.41 in premarket trading and helped drive an 8% gain in rival Lyft Inc's shares.Uber generated free cash flow of $382 million in the second quarter, topping analysts' expectations of $263.2 million, as trips exceeded pre-pandemic levels, boosted by the reopening of offices and a surge in travel demand.Register now for FREE unlimited access to Reuters.comThe number of drivers and delivery agents on its platform rose 31% to an all-time high of almost 5 million, allaying concerns that soaring gas prices was deterring them from signing up with the company.""That's right: more people are earning on Uber today than before the pandemic,"" Chief Executive Officer Dara Khosrowshahi said.Growth at its delivery business was slowing but Uber expected ordering in to become the standard for consumers as it continues to add new partners.The delivery segment's revenue rose 37% to $2.69 billion, while that of ride-share business surged 120% to $3.55 billion in the quarter ended June 30.Analysts were expecting revenue of $2.58 billion for delivery and $2.93 billion for ride share.Gross bookings, or the total value of bookings made on its platform, rose 33% to $29.1 billion.Adjusted EBITDA was $364 million, surpassing estimates of $257.89 million.It now expects adjusted EBITDA of between $440 million and $470 million for the third quarter, well above analysts' forecast of $383.95 million, according to IBES data from Refinitiv.Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.","Uber turns cash flow positive for the first time, shares surge."
"U.S. August 2, 2022 / 6:46 AM / CBS/AP Minnesota case weighs right to emergency contraception Minnesota case weighs right to emergency contraception 00:37 A trial in Minnesota is expected to decide whether a woman's human rights were violated when a pharmacist denied her request in 2019 to fill a prescription for emergency contraception.Andrea Anderson, a mother of five from McGregor, sued under the Minnesota Human Rights Act after the pharmacist, based on his religious beliefs, refused to accommodate her request. State law prohibits discrimination based on sex, including issues related to pregnancy and childbirth.The trial in the civil case comes amid national political debate about contraception under federal law with the U.S. House last week passing a bill that would guarantee the right to contraception. Democrats pushed through the measure in response to concerns a conservative U.S. Supreme Court that already erased federal abortion rights could go further and limit the use of contraception. Jury selection in Aitkin County was scheduled to start Monday, with the case expected to conclude before the end of the week.Anderson brought her prescription for a morning-after pill to the Thrifty White pharmacy in McGregor in January 2019, the Star Tribune reported. Longtime pharmacist George Badeaux told her he could not fill the prescription based on his beliefs, but that a pharmacist working the following day could fill it if a snowstorm didn't prevent the pharmacist from getting to work. Anderson eventually got her prescription filled at a pharmacy in Brainerd, making the round-trip of more than 100 miles in wintry driving conditions.Because the case is filed under the state's Human Rights Act, Aitkin County District Judge David Hermerding said Badeaux cannot raise federal constitutional issues such as freedom of religion at the trial.""The issue for the jury is not defendant's constitutional rights,"" the judge wrote. ""It is whether he deliberately misled, obfuscated and blocked Ms. Anderson's path to obtaining"" emergency contraception.Badeaux will be allowed to explain his religious beliefs to the jury, the judge ruled, ""but not in such a manner as to confuse the jury into thinking this is a religious freedom contest."" Last month, for the first time a pharmaceutical company asked for permission to sell a birth control pill over the counter in the U.S.HRA Pharma's application sets up a high-stakes decision for health regulators amid legal and political battles over women's reproductive health. The company said the timing was unrelated to the Supreme Court's recent decision overturning Roe v. Wade.Women across the U.S. have been stocking up on emergency contraceptives after the Supreme Court's ruling. In: Lawsuit Minnesota Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Minnesota pharmacist on trial for denying woman's request for a morning-after pill.
"Covestro's headquarters in Leverkusen, Germany. The company has adjusted its full year guidance for 2022, citing a number of factors.Ina Fassbender | AFP | Getty ImagesGerman materials giant Covestro warned Tuesday that the rationing of gas could see some of its sites shut down, as its CEO stressed the importance of reducing the company's reliance on fossil fuels.In a statement outlining the company's performance in the second quarter of 2022, Covestro said it was undertaking ""various measures"" to lower, over the short term, its gas requirements in Germany, where the firm's facilities represent roughly 25% of its worldwide production capacity.These measures include using oil-based steam generators. ""If gas supplies are rationed in the further course of the year, this could result in partial load operation or a complete shutdown of individual Covestro production facilities, depending on the level of the cutback,"" the company said.""Due to the close links between the chemical industry and downstream sectors, a further deterioration of the situation is likely to result in the collapse of entire supply and production chains,"" it added.Covestro's warning comes as European economies attempt to formulate and implement strategies that reduce their reliance on Russian fossil fuels following Moscow's unprovoked invasion of Ukraine in February.Russia was the biggest supplier of both petroleum oils and natural gas to the EU last year, according to Eurostat. But the country has significantly reduced flows of natural gas to Europe since Western nations imposed tough sanctions on the Kremlin as a result of the war in Ukraine.Read more about energy from CNBC ProTuesday saw Leverkusen-headquartered Covestro report that group sales in the second quarter had grown by 18.9% to hit 4.7 billion euros (around $4.81 billion). Earnings before interest, taxes, depreciation, and amortization, however, slumped by 33% to 547 million euros.The company also said it had adjusted its full year guidance for 2022, stating that the war in Ukraine had ""fundamentally changed the geopolitical situation and caused extensive consequences for the global economy.""""The Group therefore expects continued impacts on global supply chains, very high energy price levels, high inflation and weaker growth in the global economy,"" it said.Against this backdrop, EBITDA is now expected to come in at between 1.7 billion and 2.2 billion euros, compared to 2.0 billion and 2.5 billion euros.Speaking to CNBC Tuesday morning, CEO Markus Steilemann outlined the company's strategy going forward. Among other things, he cited energy saving programs that were already in place and would continue.""Secondly, wherever possible we will switch from gas as a fuel to, for example, oil or other alternative sources,"" he said.Steilemann added that Germany as a country was also ""preparing to get less and less energy that is based on gas. So all these measures will help … to decrease our dependency, as a company, on gas.""Expanding on his point, he said it was important Covestro continued with its strategy of ""getting rid of fossil fuels"" as both an energy and raw material source.Moving toward a circular economy ""where we can finally forego the dependency on fossil fuels"" was also crucial, he argued.—CNBC's Silvia Amaro contributed to this report",German chemicals firm warns of production chain collapse as Putin squeezes gas flows.
"Take a look at some of the biggest movers in the premarket:Caterpillar (CAT) – The heavy equipment maker's stock fell 3.7% in the premarket after its quarterly earnings beat forecasts but revenue was slightly short of consensus. Caterpillar's sales were hurt by its exit from Russia as well as supply chain issues, and it also saw elevated costs during the quarter.Uber Technologies (UBER) – Uber reported a quarterly loss of $1.33 per share, including the impact of a $1.7 billion headwind from a drop in the value of its investments. The ride-hailing company's revenue did come in better than expected, and it turned cash flow positive for the first time. Its shares rallied 10.8% in premarket action.Pinterest (PINS) – Pinterest shares soared 18.6% in premarket trading following its quarterly results and the news that activist investor Elliott Management is now the image-sharing site's largest shareholder. Pinterest reported lower-than-expected earnings, but revenue was only slightly below forecasts and user numbers were somewhat better than expected.Royal Caribbean (RCL) – Royal Caribbean fell 1.2% in premarket action after it announced the pricing of an upsized $1 billion debt offering. The cruise line operator will use the proceeds to refinance existing convertible notes.Simon Property Group (SPG) – The shopping mall operator reported better-than-expected quarterly earnings, although its revenue was slightly below Street forecasts. Simon CEO David Simon said mall sales are doing well despite inflation concerns and that the company is positioned to do well in a potential recession. Simon shares added 2.2% in the premarket.Cowen Group (COWN) – The financial services firm's shares rallied 7.5% on news that it agreed to be acquired by TD Bank (TD) for $39 per share or $1.3 billion in cash.Avis Budget (CAR) – The rental car company's stock jumped 4% in premarket trading after it reported better-than-expected quarterly results. Avis Budget said it benefited from strong demand and ""stringent"" cost controls.Arista Networks (ANET) – The cybersecurity firm reported better-than-expected profit and revenue for its most recent quarter and gave upbeat revenue guidance for the current period. Arista's results got a boost from strong demand from cloud and data center customers, and its stock gained 5.4% in premarket action.Zoominfo Technologies (ZOOM) – The business software company's stock surged 11.3% in the premarket after it reported better-than-expected quarterly results and raised its full-year guidance.","Stocks making the biggest moves in the premarket: Caterpillar, Uber, Pinterest and more."
"Taiwanese Presidential Office is seen through barbed wire fence during a rally against the overhaul of the military and civil service pension fund, in Taipei,Taiwan January 22, 2017. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - The website of Taiwan's presidential office received an overseas cyber attack on Tuesday and was at one point malfunctioning, a source briefed on the matter said.The website was shortly brought back online, the source told Reuters. U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as frictions rose across the sensitive Taiwan Strait. read more Register now for FREE unlimited access to Reuters.comReporting By Yimou LeeOur Standards: The Thomson Reuters Trust Principles.",Website of Taiwan's presidential office receives overseas cyber attack - source.
"An image of Speaker of the House Nancy Pelosi holding her weekly press conference on Capitol Hill on Friday, July 29, 2022 in Washington, DC. U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.Kent Nishimura | Los Angeles Times | Getty ImagesU.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, while the United States said on Monday that it would not be intimidated by Chinese ""sabre rattling"".In addition to Chinese planes flying close to the median line of the strait, several Chinese warships sailed near the unofficial dividing line since Monday, the source told Reuters. The source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative.""The Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby, the person said.CNBC PoliticsRead more of CNBC's politics coverage:Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending billUkraine’s counteroffensive in Kherson ‘gathering momentum’; UK advisor warns of nuclear riskDonald Trump in 2024: Eric Trump teases dad's third election run with golf bag at Saudi tour eventWhite House goes on offense to argue that the U.S. is not in a recessionFormer Obama White House aide Seth Andrew sentenced to year in prison for charter school theft schemeHouse passes bill to boost U.S. chip production and China competition, sending it to BidenThe Chinese planes left the area in the afternoon but the ships remained, the person said.Neither side's aircraft normally cross the median line.Taiwan's Defence Ministry said in a statement it has a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to ""enemy threats"".China's defense and foreign ministries did not immediately respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armoured vehicles on the move on Tuesday and posted pictures online, which could not immediately be verified by Reuters.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour, and the topic of Pelosi's visit was the top-trending item on the Twitter-like Weibo.Wednesday meetings Most of Pelosi's planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, a person familiar with her itinerary said.Four sources said Pelosi was scheduled to meet a group of activists who are outspoken about China's human rights record on Wednesday afternoon.Earlier on Tuesday, Pelosi visited Malaysia, having begun her Asia tour in Singapore on Monday. Her office said she will also go to South Korea and Japan, but made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans.China's foreign ministry reiterated its opposition to a Taiwan visit by Pelosi.""Faced with reckless U.S. disregard of China's repeated and serious representations, any countermeasures taken by the Chinese side will be justified and necessary, which is also the right of any independent and sovereign country,"" spokesperson Hua Chunying told a daily briefing in Beijing.'Spurious' claimsBeijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday.""We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated,"" Kirby said.China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.The White House has dismissed China's rhetoric as groundless and inappropriate.'Chess piece'Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit.""The speaker has the right to visit Taiwan,"" he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Accustomed to being caught in the middle of China-U.S. tensions, people in Taiwan expressed mixed views on a Pelosi's visit.""Regarding China's statements or hateful comments, this has actually always been like that. So, we look at it with peace of mind and are not overly scared,"" Yang Hsing-ruel, a 22-year-old university student, said while expressing hope that the visit would bolster ties between Taiwan and the United States.Fellow student Chang Yun-fan, 22, had few expectations.""In the end we are just a chess piece in someone else's game,"" he said.","Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit, report says."
"JetBlue Airways Airbus A320 passenger aircraft landing at John F. Kennedy International Airport in New York City.Nik Oiko | LightRocket | Getty ImagesJetBlue Airways said Tuesday that it expects to return to its first profit since the pandemic began this quarter and that it would remain cautious on growth while costs surge.The New York-based airline lost $188 million in the second quarter on record revenue of close to $2.45 billion as it grappled with surging costs for fuel, labor and other expenses.JetBlue's third-quarter capacity will be down as much as 3% compared with 2019, a sign the carrier is holding back on growth like other airlines trying to improve reliability after a rocky start to a big summer travel season.""We reported a record-breaking revenue result for the second quarter, and we're on pace to top it again here in the third quarter and drive our first quarterly profit since the start of the pandemic,"" CEO Robin Hayes said in an earnings release.JetBlue last week announced it had finally reached a deal to acquire ultra-low-cost carrier Spirit Airlines for $3.8 billion in cash after a long bidding war with discounter Frontier Airlines. Frontier's agreement to combine with Spirit fell apart hours before the JetBlue-Spirit deal was announced.JetBlue executives will face questions about the deal and travel demand on a 10 a.m. call Tuesday.","JetBlue forecasts return to profit in third quarter, holds back on growth as costs surge."
"Register now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British Airways has halted ticket sales on short-haul flights from Heathrow until August 8 following the London airport's decision to cap capacity and tackle widespread disruption and cancellations.The IAG (ICAG.L)-owned airline said the sales suspension on domestic and European destinations was designed to allow existing customers to rebook flights when needed.Airlines and airports across Britain and Europe have struggled to cope with the rebound in post-lockdown travel, with many failing to recruit enough staff to handle check-ins and baggage handling.Register now for FREE unlimited access to Reuters.comTail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville/File PhotoHeathrow, like Amsterdam's Schiphol airport, has told airlines to limit the number of tickets they sell over the summer, after it capped the number of passengers flying from the hub at 100,000 a day to limit queues, baggage delays and cancellations.Heathrow said last week that the cap had delivered a marked improvement in punctuality and baggage handling.""As a result of Heathrow's request to limit new bookings, we've decided to take responsible action and limit the available fares on some Heathrow services to help maximise rebooking options for existing customers, given the restrictions imposed on us and the ongoing challenges facing the entire aviation industry,"" BA said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Kate Holton, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.",BA halts short-haul ticket sales until Aug. 8.
"A member of the Russian National Guard leaves the building of Russia's Supreme Court before a hearing on whether to designate Ukraine's Azov Regiment as a terrorist entity in Moscow, Russia August 2, 2022. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comSummaryThis content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine.MOSCOW, Aug 2 (Reuters) - Russia's supreme court on Tuesday designated Ukraine's Azov Regiment as a terrorist group, a Reuters correspondent in the courtroom reported.The Azov Regiment, which has far-right and ultra-nationalist roots, has been one of the most prominent Ukrainian military formations fighting against Russia in eastern Ukraine.Russia has regularly cited Azov in support of its assertion that Ukraine is controlled by ""fascists"". Russian state propaganda has compared Azov fighters to World War Two-era Nazis, whose defeat by the Soviet Union remains a core part of Russian national identity.Previously based in the eastern Ukrainian port city of Mariupol, many of the regiment's personnel were captured by Russian forces when the city fell in May after an almost three month long siege.Officials in the Donetsk People's Republic, the Russian-backed entity which claims Mariupol as part of its territory, said in May that captured Azov Regiment fighters could face the death penalty under the self-proclaimed republic's laws.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.",Russia's supreme court designates Ukraine's Azov Regiment a 'terrorist' group.
"Former U.S. President Donald Trump delivers remarks at the America First Policy Institute America First Agenda Summit in Washington, U.S., July 26, 2022. REUTERS/Sarah SilbigerRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Donald Trump's ongoing effort to play Republican kingmaker faces fresh tests on Tuesday as voters in five states choose candidates in high-profile races for U.S. Congress, governor and other offices ahead of November's midterm elections.In Arizona and Michigan, candidates who have embraced the former president's false claims of voter fraud could win the Republican nominations for governor, even as some in their party worry they could be too extreme to win on Nov. 8. read more Kansas voters will decide whether to amend the state constitution to allow the Republican-controlled legislature to ban or limit abortion, the first such ballot initiative since the U.S. Supreme Court eliminated the nationwide right to abortion in June.Register now for FREE unlimited access to Reuters.comTwo Republican U.S. representatives who voted to impeach Trump after the Jan. 6, 2021, assault on the Capitol by his supporters, Peter Meijer of Michigan and Jamie Herrera Beutler of Washington, also face Trump-endorsed primary challengers.On Monday, Meijer published an opinion piece decrying Democrats for running ads to boost his far-right opponent after warning such candidates are dangerous, part of a risky political strategy to improve Democrats' chances of victory in November. read more With an economy teetering on the brink of recession and inflation surging, just 37% of Americans approve of President Joe Biden's job performance. That is weighing on Democrats heading into the November general election, when Republicans are favored to win control of the House of Representatives and perhaps the Senate.Control of either chamber would give Republicans the power to stymie Biden's legislative agenda while launching politically damaging hearings.Democrats have also been dealt a spate of policy defeats by the heavily conservative Supreme Court, particularly on abortion, that they were powerless to stop even with control of Congress and the White House.TRUMP ENDORSEMENTSAs he continues to flirt publicly with the possibility of running for president again in 2024, Trump has endorsed more than 100 candidates in this year's elections. Most are safe bets -- incumbent Republicans in conservative districts -- but even in competitive races he's had a winning record.Trump-backed nominees have won Republican primaries for U.S. Senate in Pennsylvania, Georgia, North Carolina and Ohio, though his picks lost nominating contests for Georgia governor and for U.S. House in South Carolina.""Trump remains really popular with Republican primary voters. I don't think you can underestimate how he has remade the party in his image,"" said Alex Conant, a Republican strategist. ""Republicans who run against Trump tend to get trampled.""On Tuesday, Arizona voters will pick between Trump-backed gubernatorial candidate Kari Lake and Karrin Taylor Robson, who has the backing of Trump's former vice president, Mike Pence.Lake, a former news anchor, echoes Trump false claims that his 2020 election defeat was the result of fraud and has said she would not have certified Biden's statewide victory in 2020. At a recent campaign stop, Lake claimed without evidence that fraud has already occurred during early voting, suggesting she may not accept a defeat on Tuesday.The race for secretary of state - the state's top election official - also includes a Trump-endorsed candidate, state Representative Mark Finchem. Finchem, who was present at Trump's Jan. 6, 2021, speech in Washington that preceded the U.S. Capitol attack, wrote on Twitter on Thursday, ""Trump won,"" prompting a Democratic candidate, Adrian Fontes, to call him a ""traitor.""Arizona Republicans will also pick a challenger to take on Democratic U.S. Senator Mark Kelly, seen as one of the most vulnerable Democratic incumbents.Blake Masters, a former tech executive who has backed Trump's false fraud claims, has Trump's endorsement and the backing of tech billionaire Peter Thiel. He is leading in polls against Jim Lamon, a former power company executive, and Attorney General Mark Brnovich, whom Trump blames for not reversing Biden's 2020 statewide victory.Chuck Coughlin, a veteran Republican strategist in Arizona, said there's ""no doubt"" that candidates such as Lake and Finchem will have a harder time winning in November.His firm conducted a recent poll that found two-thirds of Republican voters believe wrongly that the 2020 election had serious integrity problems - but the general electorate will look quite different, he said.""To win a statewide election in Arizona, you have to win unaffiliated voters,"" he said. ""Those people do not like Trump.""In Missouri, former Governor Eric Greitens, who resigned in the midst of sexual assault and campaign finance fraud scandals, is seeking the Republican nomination for U.S. Senate despite calls from many within his party to withdraw out of concern that he might cost Republicans a safe seat in November.Having promised to endorse in that race, Trump on Monday recommended voters choose either Greitens or one of his rivals, state Attorney General Eric Schmitt, with a statement that simply endorsed ""Eric."" read more In Michigan, a chaotic Republican campaign for governor will draw to a close, with several candidates vying for the right to take on Democratic Governor Gretchen Whitmer, who became a frequent target for conservatives after her aggressive approach to shutdowns during the COVID-19 pandemic.Trump last week endorsed former Republican commentator Tudor Dixon in the race. But at a rally this weekend in Troy, some Trump-supporting backers of one of Dixon's rivals, businessman Kevin Rinke, said they would not be swayed.One attendee, Steve Moshelli, 57, said he voted for Trump twice but was sticking with Rinke.""Honestly, I think his star is kind of fading,"" Moshelli, a businessman from Royal Oak, Michigan, said of Trump, adding that he thought the Jan. 6 committee's hearings had chipped away at Trump's power. ""It's his credibility. It's starting to fade.""Register now for FREE unlimited access to Reuters.comReporting by Joseph Ax in Princeton, New Jersey, additional reporting by Moira Warburton in Washington and Nathan Layne in Troy, Michigan; Editing by Scott Malone and Alistair BellOur Standards: The Thomson Reuters Trust Principles.","Trump looms large as voters in five states choose candidates for Congress, governor."
"Randy Risling | Toronto Star | Getty Images Canada's Toronto Dominion Bank will buy New York-based boutique investment bank Cowen in a $1.3 billion all-cash deal to boost its presence in the high-growth U.S market.Cash-rich Canadian banks have been on a shopping spree in the United States in recent months as they try to find growth away from their home turf where the Big Six banks already control nearly 90% of the market.The deal announced on Tuesday values each share of Cowen at $39, representing a premium of nearly 10% to the company's last closing price. Cowen shares rose 8% in premarket trading.Cowen was founded more than a century ago and offers investment banking and brokerage services to its clients.Earlier this year, TD signed its largest-ever deal when it agreed to buy regional U.S. bank First Horizon for $13.4 billion to expand in the southeastern region of the country.The companies expect the deal to close in the first quarter of 2023.",Canada's TD Bank to buy U.S. brokerage Cowen in $1.3 billion deal.
"Yard sign urges residents to vote on an amendment to Kansas' constitution that would assert there is no right to abortion, in Wichita, Kansas, U.S., July 11, 2022. REUTERS/Gabriella Borter/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Voters in Kansas will decide on Tuesday whether the state constitution should go on protecting abortion rights in a closely watched referendum that could lead to abortion access being curtailed or banned in America's heartland.The vote is the first statewide electoral test of abortion rights since the U.S. Supreme Court overturned Roe v. Wade, the landmark 1973 ruling that legalized abortion nationwide.Voters are being asked whether they want to amend the Kansas state constitution to assert there is no right to abortion. The amendment's passage, which requires a simple majority, would reverse a 2019 state Supreme Court ruling that established such a right in Kansas. read more Register now for FREE unlimited access to Reuters.comAs a result of the 2019 ruling, Kansas - a deeply conservative state that Republican Donald Trump won with 56% of the vote in the 2016 and 2020 presidential elections - has more lenient abortion policies than some of its red-state neighbors.Kansas allows abortion up to 22 weeks in pregnancy with several additional restrictions, including a mandatory 24-hour waiting period and mandatory parental consent for minors.Passage of the proposed constitutional amendment would enable the state's Republican-dominated legislature to regulate abortion much further. That could restrict abortion access across the central United States given patients travel to Kansas from Texas, Oklahoma and Missouri, where abortion is banned in almost all cases.A poll conducted July 17-18 by research group Co/efficient showed the vote could be close, with 47% of voters in favor of taking away the constitutional right to an abortion, 43% against it and 10% undecided.The ballot question has drawn national attention and money.The Value Them Both Association, which supports the amendment, raised about $4.7 million this year, with donations from regional Catholic dioceses amounting to more than $3 million, according to campaign finance reports released in July. Federal tax law prevents non-profits like churches from donating to political candidates but permits donations to broader causes.Kansans for Constitutional Freedom, the main coalition opposing the amendment, raised about $6.5 million in 2022, including donations adding up to more than $1 million from Planned Parenthood groups.Kansas holds its primary elections for governor and other down-ballot races on Tuesday. Republicans typically turn out in greater numbers for the state's primary elections than Democrats and independents, giving the proposed amendment a higher chance of passing, political analysts said.The amendment's fate could hinge on the turnout of the 29% of registered voters who are not affiliated with a political party, and young voters who may not like Democrats but want to protect abortion rights, according to Wichita State University political science professor Neal Allen.The ballot initiative is the first of several that will ask U.S. voters to weigh in on abortion rights this year. Kentucky, California, Vermont and possibly Michigan will have abortion on the ballot this fall.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter in Washington
Editing by Colleen Jenkins and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.",Abortion rights face voter test in Kansas after Roe v. Wade reversal.
"World August 2, 2022 / 5:06 AM / AFP A Chinese influencer is under police investigation after a clip of her roasting and eating a great white shark went viral. Footage of the vlogger, popularly known by her online pseudonym Tizi, showed her feasting on the predatory fish, which police in the central city of Nanchong confirmed Sunday was a great white. ""It may look vicious, but its meat is truly very tender,"" Tizi said while tearing off large chunks of the animal's barbecued meat, in a video posted in mid-July. In the video, since deleted, she is seen unwrapping a two-meter-long fish and lying down next to it to show that it was taller than her. The shark is then sliced in half, marinated and barbecued, while the head is cooked in a spicy broth. Great white sharks are listed as a vulnerable species by the International Union for Conservation of Nature -- just one step before being classed as endangered. Populations of sharks -- some of the oceans' most important apex predators -- have been battered over the last few decades, the main culprits being finning and industrial longline fishing. In China, they are listed as protected. Illegal possession can lead to a five-to-10-year prison term. ""It is flabbergasting that an internet celebrity can eat a protected animal in front of millions in broad daylight!"" wrote one commentator in response to the story. ""These uncultured attention-mongers will stoop very low to attract eyeballs!"" another said. It is unclear whether Tizi, who has almost eight million followers, will be punished. She told local media she acquired the shark through ""legal channels,"" but the local agriculture bureau said Monday her claim was ""inconsistent with the facts"" and that police were investigating. Dried baby shark flesh is used as a cat food in China and can be bought in many online stores. Chinese state media have long waged war on viral binge-eating videos, known by the Korean slang ""mukbang,"" while livestreaming platforms have for years promised to shut down accounts promoting excess eating and food waste. In: Great White Shark shark Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Chinese vlogger Tizi in hot water after clip of her roasting and eating great white shark goes viral.
"An electron microscopic (EM) image shows mature, oval-shaped monkeypox virus particles as well as crescents and spherical particles of immature virions, obtained from a clinical human skin sample associated with the 2003 prairie dog outbreak in this undated image obtained by Reuters on May 18, 2022. Cynthia S. Goldsmith, Russell Regnery/CDC/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comKOCHI, India, Aug 1 (Reuters) - India confirmed its first monkeypox death on Monday, a young man in the southern state of Kerala, in what is only the fourth known fatality from the disease in the current outbreak.Last week, Spain reported two monkeypox-related deaths and Brazil its first. The death in India is also the first in Asia. The World Health Organization declared the outbreak a global health emergency on July 23.The 22-year-old Indian man died on Saturday, Kerala's revenue minister told reporters, adding that the government had isolated 21 people who had come in contact with him.Register now for FREE unlimited access to Reuters.com""The person reached Kerala on July 21 but visited a hospital only on July 26 when he displayed fatigue and fever,"" Minister K. Rajan said, adding that there was no reason to panic as none of the primary contacts were showing symptoms.Kerala's health minister, Veena George, told reporters on Sunday that the man's family told authorities the previous day that he had tested positive in the United Arab Emirates before returning to India.India's federal health ministry had no comment on the death, except for saying that the government had formed a task force of senior officials to monitor monkeypox cases in the country, where local media have reported at least five infections.The WHO said late last month 78 countries had reported more than 18,000 cases of monkeypox, the majority in Europe.It says the monkeypox virus causes a disease with less severe symptoms than smallpox and occurs mainly in central and west Africa. The disease is transmitted from animals to humans.Human-to-human transmission happens through contact with bodily fluids, lesions on the skin or on internal mucosal surfaces, such as in the mouth or throat, respiratory droplets and contaminated objects.Register now for FREE unlimited access to Reuters.comReporting by Jose Devasia in Kochi and Chris Thomas in Bengaluru; writing by Krishna N. Das; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",India confirms Asia's first monkeypox death.
"SummaryZawahiri tracked to safe house in KabulHit by Hellfire missile while standing on balcony'This terrorist leader is no more' - BidenTaliban 'grossly violated' Doha Agreement - BlinkenKABUL/WASHINGTON, Aug 2 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a ""precision"" strike in the heart of the Afghanistan capital Kabul, President Joe Biden said, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped to coordinate the Sept. 11, 2001, attacks on the United States that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri was killed when he came out on the balcony of his safe house in Kabul at 6:18 a.m. (0148 GMT) on Sunday morning and was hit by Hellfire missiles from a U.S. drone.Register now for FREE unlimited access to Reuters.com""Now justice has been delivered, and this terrorist leader is no more,"" Biden said in televised remarks from the White House on Monday. ""No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out.""Biden said he authorised the precision strike in downtown Kabul after months of planning and that no civilians were killed.Three spokespeople in the Taliban administration in Kabul declined comment on Zawahiri's death.Taliban spokesperson Zabihullah Mujahid had previously confirmed that a strike took place in Kabul on Sunday and strongly condemned it, calling it a violation of ""international principles.""A spokesperson for the interior ministry said a house was hit by a rocket in Sherpoor, a leafy, upscale residential neighbourhood in the centre of the city.""There were no casualties as the house was empty,"" Abdul Nafi Takor, the spokesperson, said.Taliban authorities threw a security dragnet around the house in Sherpoor on Tuesday and journalists were not allowed nearby.A woman who lives in the neighbourhood and spoke to Reuters on condition of anonymity said she and her family of nine moved to the safe room of their house when she heard an explosion at the weekend. When she later went to the rooftop, she saw no commotion or chaos and assumed it was a rocket or bomb attack - which is not uncommon in Kabul.A senior Taliban official told Reuters that Zawahiri was previously in Helmand province and had moved to Kabul after the Taliban took over the country in August last year.U.S. intelligence determined with ""high confidence"" through multiple intelligence streams that the man killed was Zawahiri, one senior administration official told reporters.""Zawahiri continued to pose an active threat to U.S. persons, interests and national security,"" the official said on a conference call. ""His death deals a significant blow to al Qaeda and will degrade the group's ability to operate.""PROVIDING SANCTUARYZawahiri succeeded bin Laden as al Qaeda leader after years as its main organiser and strategist, but his lack of charisma, and competition from rival militants Islamic State, hobbled his ability to inspire devastating attacks on the West. read more There were rumours of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.A Taliban fighter stands guard near the site where Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/StringerThe drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.His death also raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The senior administration official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country.""The Taliban will have to answer for al-Zawahiri's presence in Kabul, after assuring the world they would not give safe haven to al Qaeda terrorists,"" Adam Schiff, chairman of the House Permanent Select Committee on Intelligence, said in a statement.U.S. Secretary of State Antony Blinken said the Taliban had ""grossly violated"" the Doha Agreement between the two sides by hosting and sheltering Zawahiri.Former President Barack Obama joined lawmakers in praising the operation.Reuters Graphics""It's possible to root out terrorism without being at war in Afghanistan,"" Obama said in a Twitter message. ""And I hope it provides a small measure of peace to the 9/11 families and everyone else who has suffered at the hands of al Qaeda.""Republican U.S. Senator Marco Rubio said: ""The world is safer without him in it and this strike demonstrates our ongoing commitment to hunt down all terrorists responsible for 9/11 and those who continue to pose a threat to U.S. interests.""Until the U.S. announcement, Zawahiri had been rumoured variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumours that he had died.WIFE, FAMILY IN SAME HOUSEThe senior U.S. official said finding Zawahiri was the result of persistent counter-terrorism work. The United States found out this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said.""Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house,"" the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinise the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25, he received an updated report and authorised the strike once an opportunity was available, the administration official said.With other senior al Qaeda members, Zawahiri is believed to have plotted the Oct. 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan's Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle, Matt Spetalnick in Washington, Jibran Ahmad in Peshawar and Reuters staff in Kabul; Writing by Raju Gopalakrishnan; Editing by Stephen Coates and Edmund KlamannOur Standards: The Thomson Reuters Trust Principles.",Al Qaeda leader Zawahiri killed in U.S. drone strike in downtown Kabul.
"A patient suffering from Long COVID is examined by medical staff in the post-coronavirus disease (COVID-19) clinic of Ichilov Hospital in Tel Aviv, Israel, February 21, 2022. REUTERS/Amir CohenRegister now for FREE unlimited access to Reuters.comCHICAGO, Aug 2 (Reuters) - One of the first trials aimed at tackling long COVID helped some patients recover from lingering physical and mental fatigue, although the drug developed by Axcella Health Inc (AXLA.O) failed on the small study's main goal of restoring the normal function of mitochondria - the energy factories of cells.In the 41-patient pilot study released on Tuesday, for three of 21 patients who received the drug, AXA1125, their physical fatigue scores returned to normal levels after 28 days of treatment, Axcella Chief Medical Officer Margaret Koziel said in a phone interview.Others who received the drug also reported physical and mental improvements that were deemed to be statistically significant as shown on a scale developed to measure chronic fatigue, according to the preliminary results, and the drug was shown to be safe and well tolerated.Register now for FREE unlimited access to Reuters.com""This trial is suggesting that a drug that's very safe to take and has minimal side effects is causing substantial improvement in people's physical and cognitive experience of fatigue,"" said Dr. Jason Maley, a consultant for Axcella who runs a long COVID clinic at Beth Israel Deaconess Medical Center in Boston.The drug, originally developed for fatty liver disease, aims to treat the crushing chronic fatigue reported by more than half of long COVID sufferers by restoring normal function of mitochondria, the minuscule power plants that help cells perform properly.People in the trial conducted at the University of Oxford received either the Axcella drug or a placebo over a period of 28 days. All were more than 12 weeks post COVID infection and had an abnormal phosphocreatine recovery time, a measure of mitochondrial function.For the study's primary goal, there was no statistically significant difference between the groups on phosphocreatine recovery time.The trial also looked at blood tests measuring lactate, a sign of muscle health, as well as patient-reported measures of mental and physical fatigue.There are currently no approved treatments for chronic fatigue in patients with long COVID, a condition estimated to affect more than one hundred million people worldwide.Axcella Chief Executive Bill Hinshaw said the company is designing new trials and plans to meet with U.S. and UK regulators with hopes of seeking an accelerated approval pathway for this enormous unmet need.Register now for FREE unlimited access to Reuters.comReporting by Julie Steenhuysen
Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Axcella long COVID treatment helps some patients in small trial.
"Chinese Foreign Ministry spokesperson Hua Chunying attends a news conference in Beijing, China, August 2, 2022. REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - China has been in communication with the United States over U.S. House of Representatives Speaker Nancy Pelosi's expected visit to Taiwan, Chinese foreign ministry spokesperson Hua Chunying said on Tuesday.Pelosi kicked off a tour of four Asian countries on Monday in Singapore amid intense speculation that she may risk the wrath of Beijing by also visiting self-ruled Taiwan. read more Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian in Beijing, writing by Eduardo Baptista, editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",China says it is in communication with U.S. over Pelosi's expected Taiwan visit.
"Doctor Sekou Kanneh speaks during an interview with Reuters TV in the Hastings ebola treatment centre at a neighbourhood in Freetown, December 21, 2014. Conditions at Kanneh's treatment centre, the only Ebola unit in the country run by local staff, contrast to the purpose-built facilities where foreign volunteers who have flocked to Sierra Leone, Guinea and Liberia work. Kanneh has received no official training to treat the virus that has killed over 7,000 people in West Africa. Still, he works up to four hour shifts in the stifling heat of the red zone, a ward where healthcare workers have direct contact with the highly contagious Ebola patients. In contrast, workers in foreign-run facilities are well trained and well-funded; with limits on the time spent in the red zones to not more than two hours. Picture taken December 21, 2014
. REUTERS/Baz Ratner (SIERRA LEONE - Tags: HEALTH POLITICS)Register now for FREE unlimited access to Reuters.comFREETOWN, Aug 1 (Reuters) - Doctors across Sierra Leone began an indefinite strike on Monday to protest low pay and lack of benefits, leaving dozens of patients in hospital waiting rooms in need of care.The doctors said they lost between 20% to 40% of their take-home pay in May after the government ended their monthly COVID-19 risk allowance and a tax break they had received with the onset of the pandemic.They are also demanding fuel allowances of 45 litres per week, which they said has been promised but not delivered for years.Register now for FREE unlimited access to Reuters.comDoctors also staged strikes in 2018 and 2020 in the West Africa country, protesting low pay, poor working conditions and unpaid bonuses. Sierra Leone has some of the worst health outcomes in the world.The government said it has met the doctors' demands and that salaries would be increased in September. Fuel vouchers will also be given out weekly, said health minister Austin Demby.""It is very, very difficult to understand why a strike is needed,"" Demby said.But the backlog of extra pay due since May has not been addressed, and doctors don't trust the fuel allowance system, said Edries Tejan, president of the Medical and Dental Association.""The doctors are not convinced that particular system they are proposing is going to work,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Umaru Fofana; Editing by Nellie Peyton and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Sierra Leone doctors strike over pay, fuel allowances."
"Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sandy Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. conspiracy theorist Alex Jones is expected to take the stand on Tuesday to defend against claims that he must pay the parents of a child killed in the Sandy Hook massacre for falsely claiming the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in a Texas court to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.comA lawyer for Jones said he had already paid a price after being deplatformed in 2018 and losing millions of viewers. Jones has since acknowledged that the shooting took place. He was expected to take the stand on Tuesday in his defense, a lawyer for the parents said.The parents are also expected to testify on Tuesday.The defamation suit in Austin, Texas, where Infowars is based, is one of several brought by families of victims who say Jones's followers harassed them as a result of his false claims.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder, Howard Goller and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",Alex Jones expected to testify in defamation case over Sandy Hook shooting.
"Russian President Vladimir Putin chairs a meeting on the development of the country's metallurgical sector, via a video link at the Kremlin in Moscow, Russia August 1, 2022. Sputnik/Pavel Byrkin/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The Kremlin warned the United States on Tuesday that an expected visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi would put it on a collision course with China and provoke tensions in the region.""We cannot say for sure right now whether she will or will not get there, but everything about this tour and the possible visit to Taiwan is purely provocative,"" Kremlin spokesperson Dmitry Peskov told reporters.China has repeatedly warned Pelosi against going to Taiwan, which it claims as its own. Beijing says a Pelosi visit would contravene the one-China principle that Washington has vowed to abide by. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.",Kremlin warns U.S. over 'provocative' Pelosi visit to Taiwan.
"Uber CEO Dara Khosrowshahi during the Bloomberg Global Business Forum in New York, September 25, 2019.Shannon Stapleton | ReutersUber reported a second-quarter loss on Tuesday but beat analyst estimates for revenue.Shares of Uber popped 13% in premarket trading.Here are the key numbers:Loss per share: $1.33, not comparable to estimates.Revenue: $8.07 billion vs. $7.39 billion estimated, according to a Refinitiv survey of analysts.The company reported a net loss of $2.6 billion for the second quarter, $1.7 billion of which was attributed to investments and a revaluation of stakes in Aurora, Grab and Zomato. Still, CEO Dara Khosrowshahi said Uber continues to benefit from an increase in on-demand transportation and a shift in spending from retail to services.The company reported adjusted EBITDA of $364 million, ahead of the $240 million to $270 million range it provided in the first quarter. Gross bookings of $29.1 billion were up 33% year over year and in line with its forecast of $28.5 billion to $29.5 billion. Here's how Uber's largest business segments performed in the second quarter of 2022:Mobility (gross bookings): $13.4 billion, up 57% from a year ago in constant currency. Delivery (gross bookings): $13.9 billion, up 12% from a year ago in constant currency. Uber relied heavily on growth in its Eats delivery business during the pandemic, but its mobility segment surpassed Eats revenue in the first quarter as riders began to take more trips. That trend continued during the second quarter. Its mobility segment reported $3.55 billion in revenue, compared with delivery's $2.69 billion. Uber's freight segment delivered $1.83 billion in revenue for the quarter. Revenue doesn't include the additional taxes, tolls and fees from gross bookings. Despite the increase in fuel prices during the quarter, Uber said it has more drivers and couriers earning money than before the pandemic, and it saw an acceleration in active and new driver growth. ""Consequently in July, surge and wait times are near their lowest levels in a year in several markets, including the US, and our Mobility category position is at or near a multi-year high in the US, Canada, Brazil, and Australia,"" Uber said in a release.Uber recently announced new changes that may help it continue to attract and keep drivers. They'll be able to choose the trips they want, for example, and will be able to see how much they'll earn before they accept a trip.The company reported 1.87 billion trips on the platform during the quarter, up 9% from last quarter and up 24% year over year. Monthly active platform consumers reached 122 million, up 21% year over year. Drivers and couriers earned an aggregate $10.8 billion during the quarter, up 37% year over year.Uber also benefited from the resurgence in travel. It said airport gross bookings had reached pre-pandemic levels, at 15% of total mobility gross bookings, up 139% year-over-year. For the third quarter, Uber expects gross bookings between $29 billion and $30 billion and adjusted EBITDA of $440 million to $470 million.","Uber reports another big loss but beats on revenue, shares pop 13%."
"In this photo illustration a Innoviz Technologies logo is displayed on a smartphone.Rafael Henrique | SOPA Images | Lightrocket | Getty ImagesIsraeli lidar maker Innoviz announced Tuesday it has won a contract to supply lidar units and related software for autonomous driving to a unit of Volkswagen, in a deal worth $4 billion in sales over eight years.Under the deal, Volkswagen will incorporate Innoviz's latest automotive lidar unit and its proprietary perception software into vehicles across its portfolio.The deal will run for eight years starting ""mid-decade,"" when the first Innoviz-equipped Volkswagen Group vehicles are expected to ship. Innoviz expects to supply lidar units for between 5 million and 8 million Volkswagen Group vehicles over that eight-year term.Lidar — meaning, light detection and ranging — uses an invisible laser beam to scan surroundings and construct a detailed three-dimensional image. The sensors are considered critical components of most autonomous-driving systems, which compare the images generated by lidar with a detailed three-dimensional map to double-check the vehicle's precise location.As the costs of development and production have fallen, the sensors have seen broader adoption across vehicles and driver-assist systems – leading to fierce competition between a slew of lidar startups for automaker business.Innoviz, which went public via a merger with a special purpose acquisition company in late 2020, had previously announced the deal but had not revealed its client. The lidar maker said in May that it had won a deal with ""one of the largest vehicle manufacturers in the world"" to ""become its direct lidar supplier across multiple brands.""Innoviz's CEO, Omer Keilaf, said the company's deal with Cariad, Volkswagen's software company, was struck after more than two years of testing and due diligence.""I think one of the most challenging parts was the fact that we are coming with a new product, a new generation [of lidar units], and we had to build confidence on their side to see that it's up and running. That was part of what we did in the last year,"" Keilaf told CNBC. ""The second part was getting Volkswagen to feel comfortable with Innoviz becoming a direct supplier.""The process involved in becoming a direct supplier to a major automaker is an arduous one. Generally, an automaker will put a potential new supplier's product through extensive quality and durability tests. It will also do due diligence on the potential supplier's business, accepting the supplier only after it's confident that the company will be around and financially stable for the length of the contract.Selling directly to an automaker like Volkswagen is new ground for Innoviz. The company has an existing deal with BMW, but that agreement has established auto supplier Magna International manufacturing and delivering Innoviz's lidar units to the automaker as something of a go-between.For Volkswagen, the lidar units will be made by contract manufacturers using tooling provided by – and working directly with – Innoviz, which will then supply the completed units to Volkswagen itself.Keilaf said that streamlined relationship offers advantages to both Innoviz and Volkswagen.""Eventually, it was a good fit, because the new product is really intriguing in terms of performance and price,"" Keilaf said. ""And the fact that we are a direct supplier also is very helpful in terms of bringing the cost down. It's less of a three-way kind of program.""",Israeli lidar maker Innoviz wins $4 billion Volkswagen contract for millions of sensors.
"Zaporizhzhia Nuclear Power Plant is seen from an embankment of the Dnipro river in the town of Nikopol, as Russia's attack on Ukraine continues, in Dnipropetrovsk region, Ukraine July 20, 2022. REUTERS/Dmytro SmolienkoRegister now for FREE unlimited access to Reuters.comSummaryFirst ship carrying Ukrainian grain on schedule - TurkeyTurkey expects similar daily sailings - officialUkrainian president frets that Russia may interfereRussia hails export restart as 'very positive'ISTANBUL, Aug 2 (Reuters) - The first ship carrying Ukrainian grain to world markets since Russia's invasion blocked exports more than five months ago is on track to safely arrive in Istanbul on Tuesday night, Turkey said, amid Ukrainian fears it could still run into problems.The vessel's departure on Monday from the Ukrainian port of Odesa for Lebanon via Turkey under a safe passage deal has raised hopes of further such departures which could help ease a burgeoning global food crisis.Turkey expects roughly one grain ship to leave Ukrainian ports each day as long as the safe passage agreement holds, a senior Turkish official, who asked to remain anonymous, said on Tuesday. read more Register now for FREE unlimited access to Reuters.comThe United Nations has warned of the risk of multiple famines this year because of the war in Ukraine.Monday's sailing was made possible after Turkey and the United Nations brokered a grain and fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition since Russian troops poured over the border on Feb 24.Ukrainian President Volodymr Zelenskiy in his nightly address late on Monday called the ship's departure ""the first positive signal,"" but warned it was too early to draw conclusions or predict how things would play out.""We cannot have illusions that Russia will simply refrain from trying to disrupt Ukrainian exports,"" said Zelenskiy.Ozcan Altunbudak, Turkey's representative at a coordination centre created to oversee the restart of Ukrainian grain exports, said on Tuesday that the vessel, the Sierra Leone-flagged ship Razoni, was on track to anchor at Istanbul on Tuesday night.The only issue so far was a slight delay caused by bad weather, he said. The ship, which is carrying 26,527 tonnes of corn, was due to arrive in Istanbul at around midnight local time.It will then be inspected by Russian, Turkish, Ukrainian and U.N. officials under the terms of the safe passage agreement before continuing its journey to the Lebanese port of Tripoli, its planned final destination.There are other hurdles to overcome however before millions of tonnes of Ukrainian grain can leave, including clearing sea mines and creating a framework for vessels to safely enter the conflict zone and pick up cargoes. read more Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk, to help clear the silos for the new crop.Russia has called the Razoni's departure ""very positive"" news. It has denied responsibility for the food crisis, saying Western sanctions have slowed its exports.Russia and Ukraine accuse each other of laying mines that now float around the Black Sea and represent a hazard to shipping.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Andrew Osborn and Michael Perry; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.",Turkey says ship carrying first Ukrainian grain on track for safe arrival.
"Politics August 2, 2022 / 5:55 AM / AP Demand for monkeypox vaccine outpaces supply Demand for monkeypox vaccine outpaces supply 02:06 Washington — President Joe Biden is set to name top officials from the Federal Emergency Management Agency and the Centers for Disease Control and Prevention to serve as the White House coordinators to combat the growing monkeypox outbreak.The White House said Mr. Biden will announce Tuesday that he has tapped Robert Fenton, who helped lead FEMA's mass vaccination effort against COVID-19 as the agency's acting administrator when Mr. Biden first took office, as the White House coordinator. Dr. Demetre Daskalakis of the CDC will be named his deputy. Daskalakis, the director of the agency's HIV prevention division and a national expert on issues affecting the LGBTQ community, previously helped lead New York City's COVID-19 response.The White House said the pair would coordinate ""strategy and operations to combat the current monkeypox outbreak, including equitably increasing the availability of tests, vaccinations and treatments."" Dr. Anthony Fauci, the nation's top infectious disease expert and Mr. Biden's top science adviser, praised their appointments Monday night and said he hoped they would tighten the coordination among the various federal agencies involved in the monkeypox response. ""I personally think we're dealing with a really serious issue here,"" Fauci said. ""There are a lot of unknowns. There are a lot of knowns about monkeypox, but there's still a lot of unknowns. So we've really got to implement the interventions we have, get a much better feeling for the natural history and the scope and absolutely reach out into the community, and that's the reason why I think the combination of Bob and Demetre is really a good combination."" The monkeypox virus spreads through prolonged and close skin-to-skin contact, including hugging, cuddling and kissing, as well as sharing bedding, towels and clothing. People getting sick so far have been primarily men who have sex with men. But health officials emphasize that the virus can infect anyone. The virus may cause fever, body aches, chills, fatigue and pimple-like bumps on many parts of the body. The U.S. saw its first case of the monkeypox virus confirmed on May 18 and now has over 5,800 confirmed infections. The announcement of the coordinator and deputy coordinator mirrors the Biden administration's response to COVID-19, when the president centralized virus response operations out of the West Wing, first under Jeff Zients and now with Dr. Ashish Jha. Scientists say that, unlike campaigns to stop COVID-19, mass vaccinations against monkeypox won't be necessary. They think targeted use of the available doses, along with other measures, could shut down the expanding epidemics that were recently designated by the World Health Organization as a global health emergency. Still, the Biden administration has faced criticism over the pace of vaccine availability for monkeypox. Clinics in major cities like New York and San Francisco say they haven't received enough of the two-shot vaccine to meet demand and some have had to stop offering the second dose of the vaccine to ensure supply of first doses. The White House said it has made more than 1.1 million doses of vaccine available and has helped to boost domestic diagnostic capacity to 80,000 tests per week. California on Monday became the second state in three days to declare a public health emergency over monkeypox, following action this weekend by New York, but the Biden administration didn't appear to be moving in that direction. White House press secretary Karine Jean-Pierre said the decision would be up to Health and Human Services Secretary Xavier Becerra. ""We look forward to partnering with Bob Fenton and Demetre Daskalakis as we work to end the monkeypox outbreak in America,"" Becerra said in a statement. ""Bob's experience in federal and regional response coordination, and Demetre's vast knowledge of our public health systems' strengths and limits will be instrumental as we work to stay ahead of the virus and advance a whole-of-government response."" California Gov. Gavin Newsom said Monday, ""The seriousness of the monkeypox outbreak calls for an experienced and tested leader in emergency response, so it's no surprise President Biden has tapped Bob Fenton for this vital role. Bob has been a critical partner for California, especially during devastating wildfires and throughout the COVID pandemic."" In: Monkeypox Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Biden to tap FEMA, CDC officials to head White House response to monkeypox outbreak."
"FILE PHOTO: U.S. House Speaker Nancy Pelosi (D-CA) faces reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. REUTERS/Jonathan Ernst/File Photo/File PhotoRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - China has suspended imports from 35 Taiwanese exporters of biscuits and pastries since Monday, in a warning salvo to the self-governed island ahead of a potential visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi.Taiwan's official Central News Agency reported on Tuesday that among the 3,200 Taiwanese companies registered with China's customs under the category of food, 2,066 entries had been listed as ""import suspension.""Among the 107 entries under the category of biscuits, pastries and bread, 35 have had been listed under ""import suspension"", according to Reuters calculations based on registration data posted on the website of China's General Administration of Customs.Register now for FREE unlimited access to Reuters.com""I learned about the ban before I got off work last night,"" a business manager at one of the affected Taiwanese food producers told Reuters, adding that he did not know why his company was banned.""There are food companies saying their products had been rejected at China's customs already,"" he said, declining to be named.The suspensions came as China repeatedly warned Pelosi against going to Taiwan, which it claims as its own, in a visit that Beijing says would contravene the one-China principle that Washington has vowed to abide by. read more China's General Administration of Customs did not immediately respond to Reuters' request for comments.""We've noticed this and are trying to understand more about it,"" a staffer of pastries maker Kuo Yuan Ye Foods told Reuters.It was unclear if more suspensions were looming, but Taiwan's biggest exports to China by value are electronics and parts, machinery, plastics and chemicals.China has already suspended the import of a slew of items, including grouper fish, pineapples and sugar apples from Taiwan since last year, citing concerns about pests, which Taiwan strongly denied. read more Taiwan's Council of Agriculture said it would take the relevant measures to help the latest companies affected by the ""short-term"" suspension, it said in a statement.In 2021, China's imports from Taiwan reached a record $189 billion, according to official Taiwanese data.Register now for FREE unlimited access to Reuters.comReporting by Meg Shen and Beijing newsroom;
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",China bans 35 Taiwanese food exporters in warning ahead of Pelosi visit.
"Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave/Register now for FREE unlimited access to Reuters.comSummaryCompaniesNow expects 2022 EBITDA around $37 bln versus $30 bln previouslyQ2 revenue $21.7 bln (forecast: $19.7 bln)Q2 underlying EBITDA $10.3 bln (forecast: $8.2 bln)Shares up 1.1%COPENHAGEN, Aug 2 (Reuters) - Maersk (MAERSKb.CO) raised its 2022 profit guidance for a second time on Tuesday after beating quarterly revenue expectations as congested global supply chains that have boosted freight rates persist longer than expected.The shipping industry has seen record profits in recent quarters due to a surge in consumer demand and pandemic-related logjams holding up containers in key ports in China, Europe and the United States.""Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated,"" Maersk said in a statement.Register now for FREE unlimited access to Reuters.comIt now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of around $37 billion versus the $30 billion it forecast earlier. Maersk had initially expected full-year EBITDA at $24 billion.The new guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year. read more The Copenhagen-based company is often seen as a barometer for global trade as it transports goods for retailers and consumer companies such as Walmart, Nike and Unilever.Electrolux, Europe's biggest home appliances maker, last month missed second-quarter profit expectations in part due to supply chain problems, but said the supply chain situation looked better for the third and fourth quarters. read more German shipping company Hapag-Lloyd (HLAG.DE) last week also raised its earnings outlook for 2022.Maersk, one of the world's biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures. read more Shares in Maersk were trading up 1.1% at 0825 GMTafter touching their highest levels since early June.Revenue in the second quarter stood at $21.7 billion, it said, above the $19.7 billion forecast by analysts in a poll gathered by the company.Underlying EBITDA was $10.3 billion, compared to the $8.2 billion forecast by analysts.""The strong result is driven by the continuation of the exceptional market situation within ocean (container shipping),"" the company said.Maersk is due to publish a full set of results for the second quarter on August 3.Register now for FREE unlimited access to Reuters.comReporting by Jacob Gronholt-Pedersen; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",Maersk sees global supply chain woes for longer; lifts 2022 guidance.
"Entertainment August 2, 2022 / 4:09 AM / AP Beyoncé is removing an offensive term for disabled people from a new song on her record ""Renaissance,"" just weeks after rapper Lizzo also changed lyrics to remove the same word. ""The word, not used intentionally in a harmful way, will be replaced,"" a spokeswoman for Beyoncé wrote in a statement to The Associated Press on Monday. The song ""Heated,"" which was co-written with Canadian rapper Drake among several others, uses the word ""spaz,"" which is considered a derogatory reference to the medical term spastic diplegia, a form of cerebral palsy. Lizzo also removed the word from one of her songs, ""Grrrls,"" in June after disability advocates complained about the lyrics. Lizzo said in a statement she never wanted to promote derogatory language. Disability advocate Hannah Diviney, who pointed out Lizzo's lyrics that lead to the change, wrote on Twitter that hearing the word again used by Beyoncé ""felt like a slap in the face to me, the disabled community & the progress we tried to make with Lizzo.""","Beyoncé removing offensive term for disabled people from new song ""Heated"" on her ""Renaissance"" album."
"World Updated on: August 2, 2022 / 4:55 AM / CBS/AP Kuala Lumpur, Malaysia — U.S. House Speaker Nancy Pelosi arrived in Malaysia on Tuesday for the second leg of an Asian tour that's been overshadowed by an expected stop in Taiwan, which would escalate tensions with China. Beijing claims the self-ruled island as its own territory.The plane carrying Pelosi and her delegation touched down at an air force base amid tight security. She called on lower house Speaker Azhar Azizan Harun in Parliament and adjourned for a luncheon meeting with Prime Minister Ismail Sabri Yaakob. While there have been no official announcements, local media in Taiwan reported that Pelosi will arrive in Taipei on Tuesday night, becoming the highest-ranking elected U.S. official to visit Taiwan in more than 25 years. The United Daily News, Liberty Times and China Times - Taiwan's three largest national newspapers - cited unidentified sources as saying she would fly to Taipei and spend the night after visiting Malaysia. The Reuters news agency, citing flight-tracking website Flightradar24 and witnesses, reports that the U.S. Air Force jet Pelosi flew to Malaysia has taken off from Kuala Lumpur, but its destination, and whether Pelosi or her delegation were on the plane, were unclear.China, which regards Taiwan as a renegade province to be annexed by force if necessary, has warned of repercussions, saying its military will ""never sit idly by"" if Pelosi pushes ahead with the visit. China's threats of retaliation have driven concerns of a new crisis in the Taiwan Strait, which separates the two sides, that could roil global markets and supply chains. Chinese foreign ministry spokesperson Hua Chunying said Tuesday that Bejing has been in communication with Washington over Pelosi's expected Taiwan visit, according to Reuters.Agence France-Presse reports that Chunying  also warned that the U.S. would ""pay the price"" if Pelosi visits Taiwan.""The US side will bear the responsibility and pay the price for undermining China's sovereign security interests,"" AFP quotes him as saying. This handout photo taken and released by Malaysia's Department of Information, U.S. House Speaker Nancy Pelosi, center, tours the parliament house in Kuala Lumpur on Aug. 2, 2022.  Malaysia's Department of Information via AP Moscow said Tuesday the U.S. is ""bringing destabilization to the world"" with the potential Pelosi Taiwan visit, AFP reports. ""Not a single resolved conflict in recent decades, but many provoked ones,"" foreign ministry spokeswoman Maria Zakharova said on social media, according to AFP. The White House on Monday decried Beijing's rhetoric, saying the U.S. has no interest in deepening tensions with China and ""will not take the bait or engage in saber rattling."" White House National Security Council spokesperson John Kirby underscored that the decision on whether to visit the self-ruled island was ultimately Pelosi's. He noted that members of Congress have routinely visited Taiwan over the years. Kirby said administration officials are concerned that Beijing could use the visit as an excuse to take provocative retaliatory steps, including military action such as firing missiles in the Taiwan Strait or around Taiwan, or flying sorties into the island's airspace and carrying out large-scale naval exercises in the strait. ""Put simply, there is no reason for Beijing to turn a potential visit consistent with long-standing U.S. policy into some sort of crisis or use it as a pretext to increase aggressive military activity in or around the Taiwan Strait,"" Kirby said. U.S. Secretary of State Antony Blinken also urged China to ""act responsibly"" in the event that Pelosi proceeds with the visit. ""If the speaker does decide to visit, and China tries to create some kind of a crisis or otherwise escalate tensions, that would be entirely on Beijing,"" he told reporters at U.N. headquarters in New York. ""We are looking for them, in the event she decides to visit, to act responsibly and not to engage in any escalation going forward."" U.S. officials have said the military would increase its movement of forces and assets in the Indo-Pacific region if Pelosi visits Taiwan. U.S. Navy aircraft carrier USS Ronald Reagan and its strike group were in the Philippine Sea on Monday, according to officials who spoke on the condition of anonymity to discuss military operations. The Reagan, the cruiser USS Antietam and the destroyer USS Higgins left Singapore after a port visit and moved north to their homeport in Japan. The carrier has an array of aircraft on board, including F/A-18 fighter jets and helicopters, as well as sophisticated radar systems and other weapons. Taiwan and China split in 1949 after the Communists won a civil war on the mainland. The U.S. maintains informal relations and defense ties with Taiwan even as it recognizes Beijing as the government of China. Beijing sees official American contact with Taiwan as encouragement to make the island's decades-old de facto independence permanent, a step U.S. leaders say they don't support. Pelosi, head of one of three branches of the U.S. government, would be the highest-ranking elected American official to visit Taiwan since then-Speaker Newt Gingrich in 1997. Pelosi kicked off her Asian tour in Singapore on Monday but her purported visit to Taiwan has sparked jitters in the region. Singapore Prime Minister Lee Hsien Loong ""highlighted the importance of stable U.S.-China relations for regional peace and security"" during talks with Pelosi, the city-state's foreign ministry said. This was echoed by Japan's Foreign Minister Yoshimasa Hayashi in Tokyo, who said stable ties between the two rival powers ""are extremely important for the international community as well."" The Philippines urged U.S. and China to be ""responsible actors"" in the region. ""It is important for the U.S. and China to ensure continuing communication to avoid any miscalculation and further escalation of tensions,"" said Foreign Affairs spokesperson Teresita Daza. China has been steadily ratcheting up diplomatic and military pressure on Taiwan. China cut off all contact with Taiwan's government in 2016 after President Tsai Ing-wen refused to endorse its claim that the island and mainland together make up a single Chinese nation, with the Communist regime in Beijing being the sole legitimate government. On Thursday, Pelosi is to meet with South Korean National Assembly Speaker Kim Jin Pyo in Seoul for talks on security in the Indo-Pacific region, economic cooperation and the climate crisis, according to Kim's office. Pelosi is also due to visit Japan, but it is unclear when she heading there.   In: Taiwan Nancy Pelosi China",Pelosi in Malaysia but all eyes on Taiwan as China warns anew about possible visit.
"A Komodo dragon walks at the Komodo National Park in Komodo island, Indonesia's East Nusa Tenggara province October 4, 2011. REUTERS/Beawiharta/File PhotoRegister now for FREE unlimited access to Reuters.comJAKARTA, Aug 2 (Reuters) - Hundreds of Indonesian tourism workers were on strike on Tuesday over a hefty hike in ticket prices to see the country's famous Komodo dragons, a move the government insists is to preserve the habitat of one of the world's largest lizards.The fee to access two of the main islands of the Komodo national park shot up 18 times overnight to 3.75 million rupiah ($252.10) on Monday, a jump that local workers said would scare off tourists and see their incomes dry up.Indonesia is home to about 3,300 rare Komodo dragons, which can grow up to 3 metres (10 feet) in length and can kill large prey with a single venomous bite.Register now for FREE unlimited access to Reuters.com""This has caused uncertainty among us,"" said Leo Embo, a tour guide, who belonged to one of 24 local workers' associations currently on strike over the ticket prices.""We decided to go on strike even when we're suffering from a loss here... this might as well be suicide.""KompasTV showed footage on Tuesday of a standoff between police and demonstrators. Local media reported dozens had been arrested, and tourism minister, Sandiaga Uno, on Monday urged workers to hold talks with the government.The pristine islands in Indonesia's East Nusa Tenggara province are a UNESCO World Heritage Site and drew close to 222,000 visitors in 2019, before the pandemic struck.Annual numbers have shrank to about a quarter of that in the following years, decimating tourism-dependent businesses.Indonesia has courted controversy before over its efforts to generate revenue from the giant lizards, including an image of a dragon facing off with a construction vehicle, which triggered outrage when it went viral on social media in 2020.($1 = 14,875.0000 rupiah)Register now for FREE unlimited access to Reuters.comReporting by Stanley Widianto; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.",Tourism workers strike as Indonesia hikes fee to see rare dragons.
"Flags of U.S. and China are seen in this illustration picture taken August 2, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. House Speaker Nancy Pelosi was expected to visit Taiwan on Tuesday, drawing sharp warnings from Beijing, which claims the self-ruled island as its own territory. read more Here are key developments in relations between the United States, China and Taiwan:1949 - Mao Zedong's communists take power in Beijing after defeating Chiang Kai-shek’s Kuomintang (KMT) nationalists in a civil war. The KMT-led government retreats to the island of Taiwan, cutting off contact with mainland China.Register now for FREE unlimited access to Reuters.com1950 - Taiwan becomes an ally of the United States, which is at war with China in Korea. The United States deploys a fleet in the Taiwan Strait to protect its ally from possible attack from the mainland.1954-1955 - The First Taiwan Strait Crisis: Beijing launches artillery attacks on some Taiwan-controlled outlying islands off China's southeastern coast. Taipei loses its control of some islands and moves remaining forces and residents to Taiwan.1958 - The Second Taiwan Strait Crisis: Beijing launches months-long artillery attacks on the Taiwan-controlled outlying islands of Kinmen and Matsu, both close to mainland China. Taipei fights back with some U.S.-supplied weapons. China does not seize control of any Taiwan-held island.1979 - The United States endorses the ""One China Policy"" and switches diplomatic recognition from Taipei to Beijing. Chinese leader Deng Xiaoping offers the concepts of “one country, two systems” and “peaceful unification” as possible alternatives to taking Taiwan by force.1979 - The United States enacts the Taiwan Relations Act, which makes clear that the U.S. decision to establish diplomatic ties with Beijing rests upon the expectation that the future of Taiwan will be determined by peaceful means. It obliges Washington to help provide Taiwan with the means to defend itself.1982 - U.S. President Ronald Reagan adopted Six Assurances to Taiwan, including a pledge not to alter the Taiwan Relations Act.1995 - Taiwan President Lee Teng-hui visits the United States for a reunion at Cornell University, drawing criticism from Beijing and escalating tensions.1996 - Third Taiwan Strait Crisis: Taiwan holds its first direct presidential vote. In reaction, Beijing launches missiles into waters near Taiwan; Washington dispatches aircraft carries to the region. Taiwan President Lee Teng-hui wins by a landslide in March.2000 - Chen Shui-bian is elected Taiwan president, marking the first time in power for the Democratic Progressive Party (DPP), which supports Taiwanese sovereignty and formal independence.2005 - Beijing adopts an anti-secession bill in March that makes secession by Taiwan illegal. In April, leaders of Taiwan's major opposition KMT and the Communist Party of China meet for the first time since 1949.May 2008 - KMT-backed President Ma Ying-jeou, who favours closer ties with China, comes into power and sets aside political disputes with China to discuss deals ranging from tourism to commercial flights.2016 - Tsai Ing-wen of the DPP wins the presidential race in January on a platform of standing up to China. In June, China suspends all official communications with Taiwan.December 2016 - U.S. President-elect Donald Trump breaks decades of U.S. diplomatic precedent by speaking directly, by telephone, with President Tsai Ing-wen.2017 - Trump administration approves $1.4 billion worth of arms sales to Taiwan, prompting anger from Beijing.March 2018 - Trump signs legislation that encourages the United States to send senior officials to Taiwan to meet Taiwanese counterparts and vice versa, again infuriating China.September 2018 - the U.S. State Department approves the sale to Taiwan of spare parts for F-16 fighter jets and other military aircraft worth up to $330 million, drawing a warning from China that it jeopardises cooperation between Beijing and Washington.July 2022 - U.S. President Joe Biden and Chinese President Xi Jinping hold a two-hour call, where Biden underscores that “the United States policy has not changed and that the United States strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.”Register now for FREE unlimited access to Reuters.comReporting by Beijing newsroom; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.","Milestones in relations between the U.S., China and Taiwan."
"Detail view shows the Lamborghini Aventador Roadster front during the Frankfurt Motor Show (IAA) in Frankfurt, Germany September 13, 2017. REUTERS/Kai Pfaffenbach/File PhotoRegister now for FREE unlimited access to Reuters.comDETROIT, Aug 2 (Reuters) - Wealthy sports car enthusiasts powered Italian supercar brand Lamborghini to record first-half deliveries and profitability, but Chief Executive Stephan Winkelmann said he is preparing for a challenging winter if Europe's energy crunch gets worse.Lamborghini is banking natural gas to sustain operations during the winter should Russia carry through on threats to cut gas supplies to Western Europe. The outgoing Italian government had put a priority on sustaining gas supplies to industry, Winkelmann said. ""We have no notice from the government ... that this is going to change,"" he said during a video conference with reporters.Lamborghini, a unit of Germany's Volkswagen AG (VOWG_p.DE), like other brands catering to the world's wealthiest consumers, is managing a disconnect between booming demand and severe turbulence in the broader global economy.Register now for FREE unlimited access to Reuters.comDuring the first half of this year, booming demand won out. Lamborghini shipped 5,090 of its sports cars and Urus sport utility vehicles, up 4.9% from a year earlier. Revenue rose 31% to 1.3 billion euros, and profit jumped nearly 70% to 425 million euros.Lamborghini has now become more of a high-performance, super luxury SUV company than a sports car brand. The Urus SUV now accounts for 61% of sales, the company said in a statement.Lamborghini is now heading into a period of transition for its product line.The company has said it will launch an all-electric model in 2028 that will be what Winkelmann called ""a non-extreme"" GT with four seats, designed to be a more forgiving drive than the brand's supercars. The challenge, Winkelmann said, is to build an electric Lamborghini that can not only accelerate in a straight line, but take corners the way customers would expect.""I think we can achieve this with the generation of batteries coming in,"" he said.In the near term, Lamborghini will launch a successor to its Aventador sports car, and updates to the Urus SUV lineup. The last Aventador sports car was built on July 27, Winkelmann said. Early next year, Lamborghini will launch a successor with a different name.""It's getting harder to find new names,"" Winkelmann said.Register now for FREE unlimited access to Reuters.comReporting by Joe White in Detroit
Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.","After a record first half, Lamborghini prepares for a cold winter."
"Maldives' President Ibrahim Mohamed Solih and India's Prime Minister Narendra Modi attend a photo opportunity ahead of their meeting at Hyderabad House in New Delhi, India, August 2, 2022. REUTERS/Altaf HussainRegister now for FREE unlimited access to Reuters.comMUMBAI, Aug 2 (Reuters) - India will extend an additional $100 million line of credit to the Maldives, Prime Minister Narendra Modi said on Tuesday, after a meeting with the island nation's President Ibrahim Mohamed Solih in New Delhi.""We have decided to extend an additional line of credit worth $100 million dollars so that all projects may be completed on time,"" Modi said at a joint press meet in the Indian capital.Register now for FREE unlimited access to Reuters.comReporting by Shilpa Jamkhandikar in Mumbai;
Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",India to extend extra $100 mln credit to Maldives.
"The Sierra Leone-flagged cargo ship, Razoni carrying Ukrainian grain leaves the port, in Odesa, Ukraine, August 1, 2022, in this screen grab taken from a handout video. Oleksandr Kubrakov/ Ukraine Ministry of Infrastructure/Handout via REUTERS Register now for FREE unlimited access to Reuters.comISTANBUL, Aug 2 (Reuters) - Turkey expects roughly one grain ship to leave Ukrainian ports each day as long as an agreement that ensures safe passage holds, a senior Turkish official said on Tuesday after the first wartime vessel safely departed Odesa on Monday.The first ship, Razoni, carrying 26,527 tonnes of corn to Lebanon, was crossing the western Black Sea off Romania's Danube Delta at 0714 GMT, nearly halfway to Turkish waters, where it will be inspected on Wednesday, Refinitiv Eikon data showed.The sailing was made possible after Turkey and the United Nations brokered a grain and fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition.Register now for FREE unlimited access to Reuters.comThe exports from one of the world's top producers are intended to help ease a global food crisis.""The plan is for a ship to leave...every day,"" the senior Turkish official told Reuters, referring to Odesa and two other Ukrainian ports covered by the deal. ""If nothing goes wrong, exports will be made via one ship a day for a while.""The official, who asked to remain anonymous, added Razoni's departure was delayed by a couple of days by ""technical problems"" that are now fixed, and NATO member Turkey expected the safe-passage corridor to function well.The Razoni should arrive off Turkey's coast in the early hours of Wednesday and be inspected later that morning by Russian, Turkish, Ukrainian and U.N. officials, Turkey's defence ministry said.The four parties are monitoring shipments and conducting inspections from a Joint Coordination Centre (JCC) in Istanbul, which straddles the Bosphorus Strait that connects the Black Sea to world markets.The JCC is set to update reporters on the shipments at 0800 GMT.Register now for FREE unlimited access to Reuters.comWriting by Ece Toksabay; Editing by Jonathan Spicer and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.",Turkey expects daily departures from Ukraine after first grain ship sails.
"Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesCommittee publishes report on false data scandal at HinoSays engineers didn't feel able to challenge superiorsEvidence data was falsified as far back as 2003TOKYO, Aug 2 (Reuters) - A major affiliate of Japan's Toyota Motor Corp (7203.T) falsified emissions data on some engines as far back as 2003, more than a decade earlier than previously indicated, a company-sponsored probe showed on Tuesday.The investigative committee tasked by automaker Hino Motors Ltd (7205.T) blamed the scandal on an environment where engineers did not feel able to challenge superiors, in a rare criticism of corporate culture in Japan.The committee, composed of lawyers and a corporate adviser, was set up by Hino this year after it admitted to falsifying data related to emissions and fuel performance of four engines. Its findings, released on Tuesday, detail an inflexible atmosphere where it was difficult for staff to feel ""psychological safety"", the committee said in a report.Register now for FREE unlimited access to Reuters.comA sense of past success on the part of management helped engender the culture, said committee chairperson Kazuo Sakakibara, who was the former head prosecutor at the Osaka District Public Prosecutors Office.""The magnitude of their past successes has made them unable to change or look at themselves objectively, and they have been unaware of changes in the external environment and values,"" he told a briefing.""The organisation has become an ill-organized one where people are unable to say what they cannot do.""Hino's president apologised to reporters and said management took its responsibilities seriously. The company said it would come up with a new corporate governance system within three months.The automaker said the committee had found evidence of falsification stretching back as far as 2003, as opposed to the previously disclosed timeframe of around 2016.The transportation ministry revoked the truck maker's certification of the affected engines in March. read more Hino has recalled close to 47,000 vehicles made between April 2017 and March this year, but the recall is likely to widen, the Nikkei business daily reported on Tuesday.Toyota owns 50.1% of Hino. Shares of Hino fell almost 10% on Tuesday.Hino has joined a string of Japanese automakers involved in improper emissions tests.In 2018, the government said Mazda Motor Corp (7261.T), Suzuki Motor Corp (7269.T) and Yamaha Motor Co Ltd (7272.T) had improperly tested vehicles for fuel economy and emissions.Subaru Corp (7270.T) and Nissan Motor Co Ltd (7201.T) were under scrutiny for the same reason the year before.The accuracy of automakers' emissions data was thrown into doubt in 2015 when Germany's Volkswagen AG (VOWG_p.DE) admitted it had installed secret software in hundreds of thousands of U.S. diesel cars to cheat emissions tests and that as many as 11 million vehicles could have similar software worldwide.Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama Editing by Christopher Cushing and Mark PotterOur Standards: The Thomson Reuters Trust Principles.","Toyota unit falsified emissions data as far back as 2003, probe finds."
"Ukrainian refugees from Mariupol region board a bus bound for Poland, at a registration and humanitarian aid center for internally displaced people, amid Russia's ongoing invasion of Ukraine, in Zaporizhzhia, Ukraine May 17, 2022. REUTERS/Gleb GaranichRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 2 (Reuters) - The number of border crossings from Ukraine has surpassed 10 million for the first time since Russia invaded the country, the UN Refugee Agency reported on Tuesday.A total of 10,107,957 border crossings from Ukraine have been recorded since Feb. 24, the agency's tally showed.Register now for FREE unlimited access to Reuters.comWriting by Miranda Murray, editing by Rachel MoreOur Standards: The Thomson Reuters Trust Principles.",Border crossings from Ukraine since war began passes 10 mln mark - UN agency.
"Russian President Vladimir Putin attends a meeting with parliamentary leaders in Moscow, Russia July 7, 2022. Aleksey Nikolskyi | Sputnik | ReutersRussia is facing ""economic oblivion"" in the long-term because of international sanctions and the flight of businesses, several economists have said.The International Monetary Fund last week upgraded Russia's gross domestic product estimate for 2022 by 2.5 percentage points, meaning the economy is now projected to contract by 6% this year. The IMF said the economy seemed to be weathering the barrage of economic sanctions better than expected.The Central Bank of Russia surprised markets in late July by cutting its key interest rate back to 8%, below its pre-war level, citing cooling inflation, a strong currency and the risk of recession.The ruble recovered from historic early losses in the aftermath of the invasion of Ukraine to become a top performer on the global foreign exchange market this year, prompting Russian President Vladimir Putin to declare that Western sanctions had failed.Meanwhile, Russia has continued to export energy and other commodities while leveraging Europe's dependency on its gas supplies.However, many economists see long-lasting costs to the Russian economy from the exit of foreign firms – which will hit production capacity and capital and result in a ""brain drain"" – along with the loss of its long-term oil and gas markets and diminished access to critical imports of technology and inputs.Ian Bremmer, president of Eurasia Group, told CNBC on Monday that while short-term disruptions from sanctions are less than originally anticipated, the real debate goes beyond 2022.""Anecdotal evidence suggests the manufacturing dislocations are rising as inventories are depleted and scarcity of foreign parts becomes binding. Chips and transport are among the sectors cited, in some cases reflecting dual-use military demand,"" Bremmer said.""Governmental arrears may be contributing to broader shortages. Imports of consumer goods are increasing, but less so intermediate/investment goods.""Bremmer highlighted that as sanctions intensify and popular discontent grows, the educated are leaving Russia, underscoring the importance of trade sanctions on sensitive technologies and the ""longer timeline by which sanctions undermine trend productivity and growth.""""Brain drain leads to a direct decline in the working age population, especially high-productivity workers, reducing GDP,"" he said.""It affects overall productivity, reducing innovation and affects overall confidence in the economy, reducing investment and savings.""Eurasia Group projects a sustained, long-term decline in economic activity to eventually result in a 30-50% contraction in Russian GDP from its pre-war level.'Catastrophically crippling'A Yale University study published last month, which analyzed high-frequency consumer, trade and shipping data that its author's claim presents a truer picture than the Kremlin is presenting, argued that rumors of Russia's economic survival had been greatly exaggerated.The paper suggested international sanctions and an exodus of more than 1,000 global companies are ""catastrophically crippling"" the Russian economy.""Russia's strategic positioning as a commodities exporter has irrevocably deteriorated, as it now deals from a position of weakness with the loss of its erstwhile main markets, and faces steep challenges executing a 'pivot to Asia' with non-fungible exports such as piped gas,"" the Yale economists said.They added that despite some ""lingering leakiness,"" Russian imports have ""largely collapsed,"" with Moscow now facing challenges in securing inputs, parts and technology from increasingly jittery trade partners and as a result, seeing widespread supply shortages in its domestic economy.""Despite Putin's delusions of self-sufficiency and import substitution, Russian domestic production has come to a complete standstill with no capacity to replace lost businesses, products and talent; the hollowing out of Russia's domestic innovation and production base has led to soaring prices and consumer angst,"" the report said.""As a result of the business retreat, Russia has lost companies representing ~40% of its GDP, reversing nearly all of three decades worth of foreign investment and buttressing unprecedented simultaneous capital and population flight in a mass exodus of Russia's economic base.""No path out of 'economic oblivion'The apparent resilience of the Russian economy and the resurgence of the ruble was largely attributed to soaring energy prices and strict capital control measures – implemented by the Kremlin to limit the amount of foreign currency leaving the country – along with sanctions restricting its capacity to import.Russia is the world's largest exporter of gas and second-largest exporter of oil, and thus the hit to GDP from the war and associated sanctions has been softened by high commodity prices and Europe's continued dependence on Russian energy for the time being.Russia has now relaxed some of its capital controls and cut interest rates in a bid to bring the currency down and shore up its fiscal account.""Putin is resorting to patently unsustainable, dramatic fiscal and monetary intervention to smooth over these structural economic weaknesses, which has already sent his government budget into deficit for the first time in years and drained his foreign reserves even with high energy prices – and Kremlin finances are in much, much more dire straits than conventionally understood,"" the Yale economists said.They also noted that Russia's domestic financial markets were the worst performing markets in the world so far this year despite the strict capital controls, with investors pricing in ""sustained, persistent weakness within the economy with liquidity and credit contracting,"" along with Russia's effective ostracization from international financial markets.""Looking ahead, there is no path out of economic oblivion for Russia as long as the allied countries remain unified in maintaining and increasing sanctions pressure against Russia,"" the report concluded.""Defeatist headlines arguing that Russia's economy has bounced back are simply not factual – the facts are that, by any metric and on any level, the Russian economy is reeling, and now is not the time to step on the brakes.""","Russia faces 'economic oblivion' despite claims of short-term resilience, economists say."
"Representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/Register now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - U.S. crypto firm Nomad has been hit by a $190 million theft, blockchain researchers said on Tuesday, the latest such heist to hit the digital asset sector this year.Nomad said in a tweet that it was ""aware of the incident"" and was currently investigating, without giving further details or the value of the theft.Crypto analytics firm PeckShield told Reuters $190 million worth of users' cryptocurrencies were stolen, including ether and the stablecoin USDC. Other blockchain researchers put the figure at over $150 million.Register now for FREE unlimited access to Reuters.comSan Francisco-based Nomad did not immediately respond to a request for comment.The company has notified law enforcement and is working with blockchain forensics firms to try to identify the accounts involved and get back the funds, it said in a statement to crypto news outlet CoinDesk.Nomad, which last week raised $22 million from investors including major U.S. exchange Coinbase Global (COIN.O), makes software that connects different blockchains - the digital ledgers that underpin most cryptocurrencies.The heist targeted Nomad's ""bridge"" - a tool which allows users to transfer tokens between blockchains.Blockchain bridges have increasingly become the target of thefts, which have long plagued the crypto sector. Over $1 billion has been stolen from bridges so far in 2022, according to London-based blockchain analytics firm Elliptic. read more In June, U.S. crypto firm Harmony said that thieves stole around $100 million worth of tokens from its Horizon bridge product. read more In March, hackers stole around $615 million worth of cryptocurrency from Ronin Bridge, used to transfer crypto in and out of the game Axie Infinity. The United States linked North Korean hackers to the theft. read more Nomad described itself as ""security-first"" business which would keep users' funds safe.PeckShield said that a small proportion of the coins were moved to a so-called ""mixer"", which masks the trail of crypto transactions, while around $95 million was held in three other wallets.Register now for FREE unlimited access to Reuters.comReporting by Elizabeth Howcroft; editing by Tom Wilson and Christina FincherOur Standards: The Thomson Reuters Trust Principles.",U.S. crypto firm Nomad hit by $190 million theft.
"Test tubes labeled ""Monkeypox virus positive and negative"" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - U.S. President Joe Biden on Tuesday appointed top officials from the Federal Emergency Management Agency (FEMA) and the Centers for Disease Control and Prevention (CDC) to coordinate the administration's response to monkeypox in the United States.The appointments come as the United States aims to bolster vaccination efforts to slow the spread of a monkeypox outbreak that has infected more than 5,800 Americans.On Monday, California Governor Gavin Newsom declared a state of emergency over monkeypox. read more Register now for FREE unlimited access to Reuters.comBiden named Robert Fenton as the White House coordinator to head the monkeypox response and Demetre Daskalakis as the deputy coordinator.Fenton is the regional administrator at the FEMA who helped lead mass vaccination effort for COVID-19 in February 2021. Daskalakis serves as the director of CDC's HIV prevention division.The duo will coordinate on ""strategy and operations to combat the current monkeypox outbreak, including equitably increasing the availability of tests, vaccinations and treatments,"" the White House said.The first case of monkeypox in the United States was confirmed in Massachusetts on May 20, with the first case in California, in a person who had traveled abroad, confirmed five days later.Monkeypox, which spreads through close physical contact, tends to cause flu-like symptoms and pus-filled skin lesions, though it is rarely fatal.Register now for FREE unlimited access to Reuters.comReporting by Shivani Tanna and Akriti Sharma in Bengaluru; Additional reporting by Alex Alper in Washington; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.","Biden names FEMA, CDC officials to head U.S. monkeypox response."
"A Christmas themed window display is pictured at a branch of Greggs bakery chain in London, Britain, November 18, 2021. Picture taken November 18, 2021. REUTERS/May JamesRegister now for FREE unlimited access to Reuters.comSummaryCompaniesYet to see changes in customer behaviourRaised prices in MayFirst-half profit flatReiterates full-year outlookLONDON, Aug 2 (Reuters) - British baker and fast food chain Greggs (GRG.L) said on Tuesday it was well placed to navigate a worsening cost of living crunch, saying its pricing was attractive in a market where consumer incomes were under pressure.Confidence levels among Britain's consumers are at record lows as wages fail to keep pace with inflation that hit a 40-year high of 9.4% in June and is heading for double digits.However, Greggs, known for its sausage rolls, steak bakes, vegan snacks and sweet treats, reiterated its full-year outlook and said its customers had not cut their spending.Register now for FREE unlimited access to Reuters.com""As of yet we haven't seen changes in customer behaviour,"" Chief Executive Roisin Currie told Reuters.""We're expecting more pressure on our consumers as we go into autumn with the energy prices, so we will continue to stay very focused on it and continue to watch the market.""Currie noted that when Greggs raised prices by 5 pence to 10 pence in May, it did not see an impact on transactions.She speculated that with Greggs having an average spend of just under 4 pounds, customers were still comfortable parting with their money. Also, Greggs might be benefiting from consumers trading down to it from other more expensive outlets.She said further price rises were under review.Shares in Greggs were up 2.1% at 0834 GMT.It reported flat profit of 55.8 million pounds ($68.3 million) for the 26 weeks to July 2, reflecting the re-introduction of business rates, an increase in VAT sales tax and higher levels of cost inflation.Total sales rose 27.1% to 694.5 million pounds, with like-for-like sales up 22.4% - figures flattered by comparison with COVID-19-restricted trading conditions in the same period of 2021.In the first four weeks of its second half, like-for-like sales were up 13.1%.Greggs said in March that it did not expect material profit growth in the current year on the 145.6 million pounds made in 2021 due to the surging cost of raw materials, energy and staff. read more Greggs opened a net 58 new shops in the half, taking its total to 2,239. It sees potential for at least 3,000.It has extended evening trading to 300 shops and expanded a delivery service with Just Eat (TKWY.AS) to 1,180 shops.($1 = 0.8173 pounds)Register now for FREE unlimited access to Reuters.comReporting by James Davey; Editing by Kirsten Donovan and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.",UK's Greggs says well placed to navigate cost of living crisis.
"Japanese yen and U.S. dollar banknotes are seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - The yen was on track for its biggest run of gains since the depths of the coronavirus crisis in March 2020, as rising U.S.-China tensions over Taiwan and deepening worries about a global economic slowdown boosted the appeal of safe-haven assets.Against the dollar , the Japanese currency was on track for a fifth consecutive session of gains on Tuesday, taking its cumulative increase to nearly 4.5% in five trading sessions. In early London trading, the currency was up 0.6% at 130.78 yen, just below a high of 130.40 yen, a level last seen in early June.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi weighed on stocks and sent investors scurrying into U.S. Treasuries. read more Register now for FREE unlimited access to Reuters.comThe benchmark 10-year Treasury yield fell to 2.516%, its lowest since April, further narrowing the gap between ten-year U.S. debt and equivalent Japanese bonds to 236 basis points (bps), the lowest since early April.The U.S. economy shrank for a second straight quarter, data released last week showed, intensifying an ongoing debate over whether the country is, or will soon be, in recession, with traders keenly watching for U.S. jobs data on Friday. read more ""U.S. data releases and the reaction in U.S. yields through the end of this week will be critical as JPY momentum has built a considerable head of steam here,"" said John Hardy, head of FX strategy at Saxo Bank.The Australian dollar fell nearly 1.5% after the Reserve Bank of Australia raised rates by 50 bps to 1.85%, in line with expectations. read more The bank said that even though more tightening was expected, it was not on a pre-set path, which some investors interpreted as future policy tightening may not be as aggressive.China's offshore yuan touched 6.7957 per dollar, its weakest since mid-May. Some analysts attributed this partly to the tensions around Pelosi's visit as well as poor economic data from China over the weekend.The dollar index , which measures the greenback against six peers, rose 0.3% to 105.65.Register now for FREE unlimited access to Reuters.comReporting by Saikat Chatterjee; additional reporting by Alun John in HONG KONG
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Yen set for biggest run of gains in more than 2 years.
"Logo of British Petrol BP is seen e at petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper PempelRegister now for FREE unlimited access to Reuters.comSummaryCompaniesProfits soar to $8.45 bln, far exceeding forecastsBP boosts dividend by 10%BP to boost spending on oil and gas, CEO saysProfits driven by strong oil trading, hit by LNGLONDON, Aug 2 (Reuters) - BP's (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production.The strong performance caps a blowout quarter for the top Western oil and gas companies on the back of soaring energy prices that have increased pressure on governments to impose new taxes on the sector to help consumers.""The company is running well and it continues to strengthen. We have real strategic momentum,"" Chief Executive Officer Bernard Looney told Reuters.Register now for FREE unlimited access to Reuters.comBP shares were up 3.5% by 0925 GMT, their highest since June, strongly outperforming the broader European energy index (.SXEP) which was up 0.5%.Looney, who took office in 2020 with a vow to rapidly shift BP away from fossil fuels to renewables, said that the company will increase its spending on new oil and gas by $500 million in response to the global supply crunch. read more ""We will direct more investment towards hydrocarbons to help with energy security in the near term,"" Looney said. ""We'll probably direct about a half a billion dollars for hydrocarbons.""BP plans to maintain its overall capital expenditure this year in a range of $14 billion to $15 billion.BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase. It halved its dividend to 5.25 cents in July 2020 for the first time in a decade in the wake of the pandemic.The company also increased its share repurchases plan for the current quarter to $3.5 billion after it bought $4.1 billion in the first half of the year.""The fact it produced its highest quarterly profit in 14 years, even though oil prices were higher during that period than they are now, suggests BP is a more efficient machine than it was previously,"" AJ Bell investment director Russ Mould said.The company said it expected crude oil and gas prices as well as refining margins to remain ""elevated"" in the third quarter and said it would stick to its target of using 60% of its surplus cash on share buybacks.Reuters GraphicsThe surge in revenue also allowed BP to sharply reduce its debt to $22.8 billion from $27.5 billion at the end of March.BIG OIL BONANZABP brings the second quarter profit tally for the top Western oil and gas companies to $59 billion after rivals including Exxon Mobil (XOM.N) and Shell (SHEL.L) reported record earnings last week. read more Its underlying replacement cost profit, its definition of net earnings, reached $8.45 billion in the second quarter, the highest since 2008 and far exceeding analysts' expectations of $6.8 billion.That was up from $6.25 billion in the first quarter and $2.8 billion a year earlier.The strong performance was driven by strong refining margins, ""exceptional"" oil trading performance as well as higher fuel prices, although gas trading was weaker, BP said.An outage at a major U.S. Gulf Coast liquefied natural gas (LNG) plant, also weighed on profits.The Freeport LNG plant supplies BP with 4 million tonnes per year of LNG, out of a total portfolio of 18 million tonnes.The company has been able to redirect cargoes to customers to cover for the lost supply but at an elevated cost that weighed on profits, Chief Financial Officer Murray Auchincloss told Reuters.Reuters GraphicsThe company has allocated money to cover for the extra costs of LNG supply as a result of the Freeport outage, he said.Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso and Shadia Nasralla; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",BP boosts dividend after profit hits 14-year high.
"Ousted Pakistani Prime Minister Imran Khan gestures as he travels on a vehicle to lead a protest march in Islamabad, Pakistan May 26, 2022. REUTERS/Akhtar SoomroRegister now for FREE unlimited access to Reuters.comISLAMABAD, Aug 2 (Reuters) - Pakistan's Election Commission ruled on Tuesday that former Prime Minister Imran Khan's party had received illegal funds, his party spokesman and media said, which could result in the former cricket star and the party being banned from politics.In a case that has dragged on for years, Khan's party was accused of receiving funds from abroad, which is illegal in Pakistan.Khan was not immediately available for comment but a spokesman for his Pakistan Tehreek-e-Insaf (PTI) party denied wrongdoing.Register now for FREE unlimited access to Reuters.com""We will challenge this ruling,"" the spokesman, Fawad Chaudhry, told reporters outside the office of the Election Commission of Pakistan in the capital, Islamabad.Chaudhry said the funds in question were received from overseas Pakistanis, which is not illegal.Khan was prime minister from 2018 until April of this year when he was forced to step down after losing a confidence vote that he said was the result of a U.S. conspiracy. The United States denied that.Since then, Khan has been rallying his supporters to press his demand for a new election. The new prime minister, Shehbaz Sharif, has rejected that demand.A spokesman for the Election Commission was not immediately available for comment but media reported that a three-member commission tribunal found that the party got funding from 34 foreigners or foreign companies.The tribunal said the party had submitted a fake affidavit about its bank accounts, and it had determined that the party hid 13 bank accounts that it should have declared.The commission asked the party to submit an explanation as to why its funds should not be seized, media reported.The person who filed the complaint against the party, Khan party founder and former close associate Akbar S. Babar, hailed the ruling.""All the accusations against Imran Khan have been proven,"" Babar, who fell out with Khan, told reporters, adding that Khan should step down from the party.Register now for FREE unlimited access to Reuters.comReporting by Asif Shahzad; Editing by Kim Coghill, Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Pakistan election agency rules former PM Khan's party received illegal funds.
"Signage is seen for BP (British Petroleum) at a service station near Brighton, Britain, January 30, 2021. Picture taken January 30, 2021. REUTERS/Toby MelvilleRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - BP is increasing its spending on oil and gas by $500 million in response to soaring energy prices and tightening supplies, Chief Executive Officer Bernard Looney told Reuters on Tuesday.The extra spending will go primarily to BP's onshore natural gas production in the Hayensville basin and offshore production in the Gulf of Mexico, both in the United States, he said.""We will direct more investment towards hydrocarbons to help with energy security in the near term,"" he told Reuters after the company reported its highest quarterly profit in 14 years. read more ""We'll probably direct about a half a billion dollars for hydrocarbons.""Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.","BP to boost spending on oil and gas by $500 mln, CEO says."
"U.S. House of Representatives Speaker Nancy Pelosi sits while signing the guest book as Malaysia's Parliament Speaker Azhar Azizan Harun stands next to her, during their meeting at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Famer Roheni/Handout via REUTERS Register now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - As U.S. House of Representatives Speaker Nancy Pelosi headed to Taipei on Tuesday amid intensifying warnings from China, four U.S. warships, including an aircraft carrier, were positioned in waters east of the island on ""routine"" deployments.The carrier USS Ronald Reagan had transited the South China Sea and was currently in the Philippines Sea, east of Taiwan and the Philippines and south of Japan, a U.S. Navy official confirmed to Reuters on Tuesday.The Japanese-based Reagan is operating with a guided missile cruiser, USS Antietam, and a destroyer, USS Higgins.Register now for FREE unlimited access to Reuters.com""While they are able to respond to any eventuality, these are normal, routine deployments,"" the official said, who spoke on the condition of anonymity. The official added that they were unable to comment on precise locations.The U.S. Navy official said the amphibious assault ship USS Tripoli was also in the area as part of a deployment to the region that started in early May from its home port of San Diego.Pelosi, a long-time China critic, was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as the United States said it would not be intimidated by Chinese ""saber rattling"" over the visit. read more Confirmation of the deployments comes as signs emerge of military activity on both sides of the Taiwan strait ahead of Pelosi visit.In addition to Chinese planes flying close to the median line dividing the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, a source briefed on the matter told Reuters.China's defense and foreign ministries did not immediately respond to requests for comment.The source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative.""The person said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.Taiwan's Defense Ministry said on Tuesday they have a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to ""enemy threats"" as tensions rise with China. read more The ministry had ""reinforced"" its combat alertness level from Tuesday morning to Thursday noon, the island's official Central News Agency reported on Tuesday, citing unidentified sources.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armored vehicles on the move and posted pictures online. The photographs have yet to be verified by Reuters.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervor over the prospect of unification with Taiwan.Since last week, the People's Liberation Army has conducted various exercises, including live fire drills, in the South China, Yellow Sea and Bohan Seas.Some regional military analysts say that increased deployments at a time of tension raise the risk of accidents, even if no side wants an actual conflict.(This story refiles to correct typographical errors in USS in second, third and fifth paragraphs)Register now for FREE unlimited access to Reuters.comReporting By Greg Torode in Hong Kong and Yimou Lee in Taipei; additional reporting by Yew Lun Tian in Beijing; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",U.S. Navy deploys four warships east of Taiwan as Pelosi heads to Taipei.
"The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 1, 2022. REUTERS/StaffRegister now for FREE unlimited access to Reuters.comSummaryCompaniesBP boosts dividend after profit hits 14-year highSemiconductor stocks fallPelosi set to visit Taiwan despite China warnings-sourcesSTOXX down 0.6%Aug 2 (Reuters) - European shares fell on Tuesday as weak global factory data fanned economic slowdown fears, while markets were on edge as U.S. House of Representatives Speaker Nancy Pelosi was expected to visit Taiwan.The pan-European STOXX 600 (.STOXX) slid 0.6% in morning trade.Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it wouldn't be intimidated by Chinese threats to never ""sit idly by"" if she made the trip to the self-ruled island claimed by Beijing. read more Register now for FREE unlimited access to Reuters.com""After the best month for Stoxx 600 in July, European equities are giving back some of those gains to kick off August suggesting the rally was slightly overdone,"" Victoria Scholar, head of investment at Interactive Investor, said.""Although Pelosi's visit could create a deeper strain between Beijing and Washington it is unlikely to result in actual military conflict.""Global markets were jittery, with MSCI's broadest index of Asia-Pacific shares ex-Japan (.MIAPJ0000PUS) down 1.3%, while U.S. futures pointed to a lower open.In Europe, semiconductor stocks such as ASML Holding (ASML.AS), ASM International (ASMI.AS), BE Semiconductor (BESI.AS) and STMicroelectronics fell between 0.6% and 3.6%.""Most of the chip production happens in Asia. If you get a conflagration between China and the U.S., that's going to increase geopolitical uncertainty in that region,"" said Michael Hewson, chief market analyst at CMC Markets UK.Meanwhile, Moody's Investors Service flagged an increased risk of stagflation in European Union countries.European stocks ended lower in the previous session as energy shares fell following a drop in crude prices after weak factory data across the United States, Europe and Asia rekindled demand concerns.The energy sector (.SXEP) got a boost on Tuesday following strong results from BP (BP.L), with the London-listed oil major up 4% as it reported a second-quarter profit that beat estimates. read more Register now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.",Risk-off mood hits European shares; Sino-U.S. tensions weigh.
"A vial labelled ""Sinovac COVID-19 Vaccine"" is seen in this illustration taken January 16, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - Hong Kong on Tuesday reduced the minimum age for getting vaccinated with China's Sinovac COVID-19 shot to six months from three years after several young children became infected with the virus.Adults and children in the Asian financial hub, which retains some of the world's toughest COVID precautions, are required to have at least three coronavirus vaccine shots.""Recently a series of young children have been infected with the new coronavirus. The situation of severe illness and even death is of great concern,"" the government said in a statement announcing the reduction in age.Register now for FREE unlimited access to Reuters.comThe government said it was also negotiating with China's Fosun, which supplies Germany's BioNtech vaccine, to purchase a formula of that vaccine for children.The minimum age to get a shot of the BioNtech vaccine is five.About 90% of Hong Kong's more than 7 million people have had two doses of a coronavirus vaccine and about 67% have had three.Residents can choose between China's Sinovac and BioNtech.A government advisory panel on Monday recommended that a fourth vaccine dose be given to those over 50.The Chinese-ruled city has reported more than 1.3 million COVID cases and 9,500 deaths since the pandemic started, most of which occurred this February and March due to the fast-spreading Omicron variant.Register now for FREE unlimited access to Reuters.comReporting by Farah Master and Twinnie Siu; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Hong Kong lowers age for Sinovac vaccine shot to six months.
"A photo of Al Qaeda's new leader, Egyptian Ayman al-Zawahiri, is seen in this still image taken from a video released on September 12, 2011. SITE Monitoring Service/Handout via REUTERS TVRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Al Qaeda chief Ayman al-Zawahiri, who had a $25 million U.S. bounty on his head, survived years in Afghanistan's rugged mountains but his last months were spent in an upscale Kabul neighbourhood where top officials from the Taliban also live.U.S. officials said Hellfire missiles from a U.S. drone killed the 71-year-old when he came out on the balcony of a safe house in Kabul on Sunday morning. U.S. President Joe Biden said no civilians were killed. read more The Taliban confirmed an air strike on a residential house in the Sherpoor area of Kabul but said there were no casualties.Register now for FREE unlimited access to Reuters.comZawahiri moved to a ""very safe place"" in Kabul a few months after the Taliban took control of Afghanistan in August last year, a senior leader of the radical group told Reuters on Tuesday on the condition of anonymity.Taliban spokesperson Zabihullah Mujahid condemned the drone strike and called it a violation of ""international principles"". Two Taliban spokesmen did not respond to Reuters request seeking details about Zawahiri's death.Unverified pictures on social media of what was described as the target of the attack showed shattered windows of a pink building, its fences topped with rolls of barbed wires. The house appeared two to three stories tall and ringed by trees.Sherpoor is a quiet, leafy part of Kabul with large houses, where former Afghan general and ethnic Uzbek strongman Abdul Rashid Dostum had lived, among other local dignitaries. Some houses have swimming pools in their attached gardens.U.S. and NATO embassies are within a few km (miles) of the area.A woman who lives in the neighbourhood and spoke to Reuters on condition of anonymity said she and her family of nine moved to the safe-room of their house when she heard an explosion at the weekend. When she later went to the rooftop, she saw no commotion or chaos and assumed it was some rocket or bomb attack - which are not uncommon in Kabul.The senior Taliban leader said Zawahiri spent most of his time in the mountains of Helmand province's Musa Qala district after the Taliban government was overthrown in 2001 when the United States sent troops to the country.He said Zawahiri kept a low profile there but went in and out of Pakistan's border regions several times.Pakistan's foreign office did not respond to questions about Zawahiri's reported movements in and out of Pakistan.In January, 2006, CIA-operated Predator drones fired missiles at a house in Damadola, a village in the Pakistani tribal region of Bajaur, in the belief that Zawahiri was visiting. He was not but at least 18 villagers were killed.TOP SECURITYOther Taliban sources said the group gave the ""highest-level security"" to Zawahiri in Kabul but he was largely inactive operationally and needed the Taliban's permission to move.A Kabul police official described Sherpoor as Kabul's ""most safe and secure neighbourhood"" and that the drone strike there was a ""great shock"".He said influential people from the former governments of Hamid Karzai and Ashraf Ghani had built spacious houses in Sherpoor. Senior Taliban leaders and their families now lived there, the official said.Zawahiri, an Egyptian surgeon, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people in the United States.A U.S. official said U.S. officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a house in Kabul and subsequently identified Zawahiri at the same location.Officials were not aware of him leaving it and on multiple times they identified him on its balcony - where he was ultimately struck. read more Register now for FREE unlimited access to Reuters.comReporting by Jibran Ahmad in Peshawar, Rupam Jain in Mumbai and Gibran Peshimam in Islamabad; Writing by Krishna N. Das; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.","Al Qaeda's Zawahiri survived harsh mountains, killed in posh Kabul locality."
"U.S. Updated on: August 1, 2022 / 7:06 PM / CBS/AP Death toll rises in Kentucky flooding disaster Death toll rises in Kentucky flooding disaster 02:19 The death toll in Kentucky climbed to 37 from last week's massive flooding, Gov. Andy Beshear announced Monday. ""Let us pray for these families and come together to wrap our arms around our fellow Kentuckians,"" Beshear tweeted. During a briefing earlier Monday morning, the governor said hundreds of people were unaccounted for. He said a report over the weekend of a smaller number was only for one state police post. ""We just don't have a firm grasp on that,"" the governor said. ""I wish we did.""More than 12,000 customers remained without power, many because their homes and businesses have been destroyed or aren't fit for habitation. Shelters were housing at least 300 people. Parts of eastern Kentucky received between 8 and 10 1/2 inches of rain over 48 hours last week and the National Weather Service said radar indicated up to 4 inches of rain fell Sunday in some areas. More severe storms were possible across all the counties affected by the flooding, Beshear said.""If things weren't hard enough on the people of this region, they're getting rain right now,"" Beshear said Monday. Water-damaged items sit outside a house in Squabble Creek, Kentucky, following historic flooding in eastern Kentucky, July 31, 2022. Seth Herald/AFP via Getty Images The governor canceled a trip to Israel that had been scheduled for later this week, saying ""I cannot be overseas while the people of eastern Kentucky are suffering.""Meanwhile, nighttime curfews were declared in response to reports of looting in two of the devastated communities — Breathitt County and the nearby city of Hindman in Knott County. Breathitt County Judge Executive Jeff Noble declared a countywide curfew from 10 p.m. to 6 a.m., County Attorney Brendon Miller said Sunday evening in a Facebook post. The only exceptions will be for emergency vehicles, first responders and people traveling for work.""I hate to have to impose a curfew, but looting will absolutely not be tolerated. Our friends and neighbors have lost so much — we cannot stand by and allow them to lose what they have left,"" the post said.Hindman Mayor Tracy Neice also announced a curfew Sunday night, from sunset to sunrise, due to ""excessive looting,"" CBS affiliate WYMT-TV reported. Both curfews will remain in place until further notice, officials said.President Biden declared a federal disaster last week to direct relief money to flooded counties and sent Federal Emergency Management Agency officials to coordinate directly in the recovery. Last week's flooding extended to West Virginia, where Gov. Jim Justice declared a state of emergency for six southern counties, and to Virginia, where Gov. Glenn Youngkin also made an emergency declaration that enabled officials to mobilize resources across the flooded southwest portion of the state.Stories of survival continue to emerge. A 17-year-old girl whose home in Whitesburg was flooded Thursday put her dog in a plastic container and swam 70 yards to safety on a neighbor's roof. Chloe Adams waited hours until daylight before a relative in a kayak arrived and moved them to safety, first taking her dog, Sandy, and then the teenager.""My daughter is safe and whole tonight,"" her father, Terry Adams, said in a Facebook post. ""We lost everything today … everything except what matters most."" In: Kentucky flood Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",At least 37 dead in Kentucky flooding as governor says hundreds of people are still unaccounted for.
"A signboard of MUFG Bank is seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T), Japan's largest lender by assets, reported on Tuesday a 70.3% plunge in first-quarter net profit, blaming a one-off loss related to the sale of MUFG Union Bank.Mitsubishi UFJ, which owns 21.5% of Wall Street bank Morgan Stanley , reported net profit of 113.7 billion yen ($869.1 million) for the April-June period, against 383.1 billion yen a year earlier.The slump in profit reflected appraisal losses of 254 billion yen on bonds and other asset held by MUFG Union Bank, an accounting treatment required ahead of the $8 billion sale of the U.S. retail banking unit to U.S. Bancorp later this year.Register now for FREE unlimited access to Reuters.comThe previously flagged losses would be partially offset when the sale is complete, and the overall impact on full-year net profit is expected to be around 200 billion yen, the bank said.Mitsubishi UFJ saw loan growth overseas as an economic recovery driven by easing pandemic curbs has revived commercial activities as well as demand for borrowing for business expansions and investments.The bank maintained its full-year profit forecast of 1 trillion yen, a 12% drop from the previous year when it posted a record profit. The outlook compared with an average forecast of 1.05 trillion yen from 13 analyst estimates compiled by Refinitiv.The two other Japanese megabanks, Sumitomo Mitsui Financial Group (8316.T) and Mizuho Financial Group (8411.T), also maintained their full-year profit forecasts when they reported last week. read more ($1 = 130.8300 yen)Register now for FREE unlimited access to Reuters.comReporting by Makiko Yamazaki; Editing by Kirsten Donovan and Susan FentonOur Standards: The Thomson Reuters Trust Principles.",Japanese bank Mitsubishi UFJ blames one-off factors for first-quarter profit slump.
"Tail Fins of British Airways planes are seen parked at Heathrow airport as the spread of the coronavirus disease (COVID-19) continues, London, Britain, March 31, 2020. REUTERS/Toby Melville/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British Airways has halted ticket sales on short-haul flights from Heathrow until August 8 following the London airport's decision to cap capacity and tackle widespread disruption and cancellations.The IAG (ICAG.L)-owned airline said the sales suspension on domestic and European destinations was designed to allow existing customers to rebook flights when needed.Airlines and airports across Britain and Europe have struggled to cope with the rebound in post-lockdown travel, with many failing to recruit enough staff to handle check-ins and baggage handling.Register now for FREE unlimited access to Reuters.comHeathrow, like Amsterdam's Schiphol airport, has told airlines to limit the number of tickets they sell over the summer, after it capped the number of passengers flying from the hub at 100,000 a day to limit queues, baggage delays and cancellations.Heathrow said last week that the cap had delivered a marked improvement in punctuality and baggage handling.""As a result of Heathrow's request to limit new bookings, we've decided to take responsible action and limit the available fares on some Heathrow services to help maximise rebooking options for existing customers, given the restrictions imposed on us and the ongoing challenges facing the entire aviation industry,"" BA said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Kate Holton, Editing by Kylie MacLellanOur Standards: The Thomson Reuters Trust Principles.",BA halts short-haul ticket sales until Aug. 8.
"Hino Motors Ltd displays its new Hybrid Profia, a diesel-hybrid version of its large commercial truck model at its R&D Centre at Hino in Tokyo, Japan July 17, 2018. REUTERS/Naomi Tajitsu/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Japan's Hino Motors Ltd (7205.T) falsified emissions data on some engines as far back as 2003, a committee tasked by the automaker said on Tuesday, blaming a culture where engineers were not able to challenge senior staff.The committee composed of lawyers and a corporate adviser was set up by the Toyota Motor Corp (7203.T) unit after it admitted this year to falsifying data related to emissions and fuel performance of four engines. Its findings cast a harsh light on the culture of the automaker.That internal culture made it easy for power harassment to happen and difficult for staff to feel ""psychological safety"", the committee said in a report.Register now for FREE unlimited access to Reuters.comThe automaker said the committee had found evidence of falsification stretching back as far as 2003, as opposed to previously disclosed around 2016.The transportation ministry revoked the truck maker's certification of those engines in March. read more Hino has recalled close to 47,000 vehicles made between April 2017 and March this year, but the recall is likely to widen, the Nikkei business daily reported on Tuesday.Toyota owns 50.1% of Hino. Shares of Hino fell almost 10% on Tuesday.Hino has joined a string of Japanese automakers involved in improper emissions tests.In 2018, the government said Mazda Motor Corp (7261.T), Suzuki Motor Corp (7269.T) and Yamaha Motor Co Ltd (7272.T) had improperly tested vehicles for fuel economy and emissions.Subaru Corp (7270.T) and Nissan Motor Co Ltd (7201.T) were under scrutiny for the same reason the year before.The accuracy of automakers' emissions data was thrown into doubt in 2015 when Germany's Volkswagen AG (VOWG_p.DE) admitted that it had installed secret software in hundreds of thousands of U.S. diesel cars to cheat exhaust emissions tests and that as many as 11 million vehicles could have similar software installed worldwide.Register now for FREE unlimited access to Reuters.comReporting by Satoshi Sugiyama; Editing by David Dolan and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Committee probing Toyota unit Hino blames company culture in false data scandal.
"WNBA star and two-time Olympic gold medalist Brittney Griner sits in a cage at a court room prior to a hearing, in Khimki , outside Moscow, Russia, July 27, 2022. American basketball star Brittney Griner returns to a Russian courtroom for her drawn-out trial on drug charges that could bring her 10 years in prison of convicted. Alexander Zemlianichenko/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comKHIMKI, Russia, Aug 2 (Reuters) - U.S. basketball star Brittney Griner returned to stand trial at a Russian court on Tuesday as the United States sought to secure her release with a prisoner swap to help her avoid up to 10 years in jail on drugs charges.Griner, a two-time Olympic gold medallist and a Women's National Basketball Association (WNBA) star, was detained at Moscow's Sheremetyevo airport on Feb. 17 with vape cartridges containing hashish oil in her luggage.U.S. Secretary of State Antony Blinken said on Wednesday the United States has made a ""substantial offer"" to Russia to release American citizens held in Russia, including Griner and former Marine Paul Whelan. read more Register now for FREE unlimited access to Reuters.comA source said that Washington was willing to exchange convicted arms trafficker Viktor Bout, known as the ""Merchant of Death.""Russia said that there was no deal yet, and Griner is unlikely to be swapped until there is a verdict, which could happen by mid-August.Griner, 31, has pleaded guilty to the charges against her but has denied that she intended to break Russian law.Wearing a plain khaki T-shirt and round-rimmed glassed, Griner was ushered a courtroom by police at Khimki District Court outside Moscow, Griner held up personal photographs before taking a seat in the defendant's cage.The two-time Olympic champion testified last week that she could not understand how the vape cartridges had ended up in her luggage, speculating that she had inadvertently packed them as she rushed to leave. read more Griner had been her way to join her Russian team, UMMC Ekaterinburg, for the playoffs after spending time at home in the United States.Register now for FREE unlimited access to Reuters.comReporting by Reuters; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.",Brittney Griner appears in Russian court after U.S. makes swap offer.
"U.S. House of Representatives Speaker Nancy Pelosi and Malaysia's Parliament Speaker Azhar Azizan Harun pose for photographs during their meeting at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Famer Roheni/Handout via REUTERS Register now for FREE unlimited access to Reuters.comKUALA LUMPUR, Aug 2 (Reuters) - A U.S. air force jet that flew U.S. House of Representatives Speaker Nancy Pelosi to Malaysia has left the capital Kuala Lumpur, according to flight-tracking website Flightradar24 and Reuters witnesses.Reuters could not immediately establish if Pelosi or her delegation were on the plane. Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said earlier. read more Register now for FREE unlimited access to Reuters.comReporting by Ebrahim Harris and Rozanna Latiff; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.",U.S. jet that flew Pelosi to Malaysia departs from Kuala Lumpur.
"Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus MordantRegister now for FREE unlimited access to Reuters.comSummaryPrices fell to lowest in more than 2 weeks on MondayFactories squeezed by higher prices, weak customer demandU.S. targets Chinese, UAE firms in new Iran oil sanctionsAug 2 (Reuters) - Oil prices edged lower on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week to determine whether to increase supply.Brent crude futures dropped 24 cents, or 0.2%, to $99.82 a barrel by 0634 GMT, while WTI crude futures eased 10 cents, or 0.1%, to $93.78 a barrel.The slide came after Brent futures slumped on Monday to a session low of $99.09 a barrel, their lowest since July 15. The U.S. crude benchmark dropped to as low as $92.42 a barrel, its weakest since July 14.Register now for FREE unlimited access to Reuters.com""Crude prices tumbled after a wealth of factory activity data suggested the world is headed towards a giant global economic contraction, and on expectations for more oil output following a very good earnings season for oil companies,"" said Edward Moya, senior market analyst from OANDA, in a note.Recessionary concerns were heightened on Monday as surveys from the United States, Europe and Asia showed that factories struggled for momentum in July. Flagging global demand and China's strict COVID-19 restrictions slowed production. read more The price drops also come as market participants await the outcome of a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide on September output.Two of eight OPEC+ sources in a Reuters survey said that a modest increase for September would be discussed at the Aug. 3 meeting. The rest said output is likely to be held steady. read more A Fox Business news reporter said Saudi Arabia will push OPEC+ to increase oil production at the meeting. read more ""The upward momentums of oil prices has been gradually fading ... Once the supply and demand situation shows any sign of further deterioration, oil is likely to lead the decline among commodities,"" analysts from Haitong Futures said.Meanwhile the United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme. read more Also casting a cloud over the market is the possibility of a visit to Taiwan by U.S. Speaker of the House Nancy Pelosi, despite Beijing's warnings against it. The visit would mark the first time a high-profile U.S. official has been on the island in over 25 years, which could escalate tensions between the U.S. and China. read more Register now for FREE unlimited access to Reuters.comReporting by Stephanie Kelly and Muyu Xu; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Oil prices slip as weak factory data fuels global demand concerns.
"WASHINGTON — As House Speaker Nancy Pelosi reportedly prepares to land in Taiwan on Tuesday evening for a long-rumored official visit, her trip has exposed a rare schism between the Biden White House and the most powerful Democrat in Congress.Officially, the Biden administration has been careful to avoid directly answering questions about whether it agrees with Pelosi's decision to make the trip.But unofficially, the White House and the Pentagon have made little secret of their opposition to such a visit, which comes at a time when U.S.-China relations are the poorest they've been in decades.In late July, Biden responded to a question about Pelosi's then-rumored stop in Taiwan by saying, ""The military thinks it's not a good idea right now. But I don't know what the status of it is.""For weeks, American officials from the president on down have tied themselves into knots trying to talk about Pelosi's choice to visit Taiwan, and stressing that it was her decision, and hers alone.Missing the pointNow, experts say it's becoming clear that this effort missed the point. That's because schisms in Washington are effectively meaningless to the rest of the world, which has learned to view American presidents and their top allies in Congress as interchangeable stand-ins for one another on foreign policy matters.The fact that U.S. policy toward Taiwan is deliberately ambiguous only serves to make it that much more difficult to draw any meaningful distinction between what Pelosi is doing and what the White House is saying.Pelosi, a longtime China hawk, has not officially announced that she will visit the self-ruled island off the coast of mainland China, which Beijing considers a renegade province.I think what you really see from China's side, and it's not unreasonable, is that we're kind of pushing the envelope of the One China policy.Andrew MerthaChina Global Research Center, Johns Hopkins School of Advanced International StudiesBut after weeks of Pelosi and her office refusing to confirm the visit, citing security concerns, Taiwanese media reported Monday that Pelosi and a congressional delegation of five other House Democrats planned to spend Tuesday night in the capital, Taipei, and meet with Taiwanese leaders and members of the island's legislature on Wednesday.Beijing has been furious for months over the reported visit, which would mark the first time in 25 years that an American House Speaker visited the island.Any trip by Pelosi ""will greatly threaten peace and stability across the Taiwan Strait, severely undermine China-US relations and lead to a very serious situation and grave consequences,"" senior Chinese diplomat Liu Xiaoming tweeted late Monday night. Liu's statement reflected the tone and tenor of weeks' worth of warnings and threats that have emanated from Beijing.On Tuesday, China escalated this rhetoric with a series of actions, starting with the announcement of new tariffs on Taiwanese goods. Shortly afterward, Reuters reported that several Chinese warplanes had flown close to the median line of the Taiwan Strait.Hours later, a major Taiwanese media outlet reported that the island's own military would be on heightened alert in response to Chinese live fire exercises being held in anticipation of Pelosi's reported visit.Given that Pelosi is traveling aboard a U.S. military aircraft for the entirety of her trip to Asia this week, the quickly escalating military tensions between China and Taiwan carry especially high risks.They also underscore what a difficult position Pelosi's trip has placed the Biden White House into.'Independent branch of government'As reports of the trip solidified in recent days, Biden's top spokespeople have been forced to say over and over that they cannot confirm or deny the existence of any upcoming trip, and at the same time downplay its significance.""I want to reaffirm that the Speaker has not confirmed any travel plans,"" National Security Council spokesman John Kirby told reporters Monday, ""So we won't be commenting or speculating about the stops on her trip.""Still, Kirby confirmed moments later that Biden had specifically raised the topic of Pelosi's unconfirmed trip with Chinese President Xi Jinping last week, during a video call that lasted more than two hours.Biden ""made clear that Congress is an independent branch of government and that Speaker Pelosi makes her own decisions, as other members of Congress do, about their overseas travel,"" said Kirby. ""That was made clear.""Moments after saying Biden and Xi had personally discussed the trip, Kirby again sought to downplay its importance.""I think we've laid out very clearly that if she goes — if she goes — it's not without precedent. It's not new. It doesn't change anything,"" he said. ""We've not ramped up the rhetoric. We've not changed our behavior.""CNBC PoliticsRead more of CNBC's politics coverage:Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending billUkraine’s counteroffensive in Kherson ‘gathering momentum’; UK advisor warns of nuclear riskDonald Trump in 2024: Eric Trump teases dad's third election run with golf bag at Saudi tour eventWhite House goes on offense to argue that the U.S. is not in a recessionFormer Obama White House aide Seth Andrew sentenced to year in prison for charter school theft schemeHouse passes bill to boost U.S. chip production and China competition, sending it to BidenTo foreign policy experts, the White House's effort to convince Beijing that it must distinguish between the behavior of the top Democrat in Congress and the intent of the Democratic administration is a futile one.""Saying that this is a whole lot of nothing or that the Chinese shouldn't read into it ... Well, anybody who has spent half a minute looking at China knows that they attach some sort of intentionality to everything we do,"" said Andrew Mertha, the director of the China Global Research Center at the Johns Hopkins School of Advanced International Studies.Any suggestion that a visit by someone as important as Pelosi would be seen by Beijing as anything but an in-person expression of American support for Taiwanese independence, he said, is unimaginable.This is especially true after Biden himself said, on three separate occasions, that the U.S. would come to the defense of Taiwan if China were to invade the island.Those statements, said Mertha, undermined decades of assurances from Washington that the U.S. would maintain a policy of strategic ambiguity on the question of who controls Taiwan.""I think what you really see from China's side, and it's not unreasonable, is that we're kind of pushing the envelope of the One China policy,"" said Mertha, referring to the longstanding U.S. position of recognizing Beijing as the sole legal government of China, but not formally recognizing Taiwan as subject to the government in Beijing.""They're alarmed,"" Mertha said of Beijing, ""and I don't blame them.""",White House struggles to insulate Biden's China policy from Pelosi's Taiwan trip.
"Birds fly past the logo of India's state-owned natural gas utility GAIL (India) Ltd installed on its corporate office building in New Delhi, India, April 26, 2018. REUTERS/Adnan AbidiRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 1 (Reuters) - India's largest gas distributor GAIL (India) Ltd (GAIL.NS) has started gas rationing, cutting supplies to fertiliser and industrial clients after imports were hit under its deal with a former unit of Russian energy giant Gazprom, two sources familiar with the matter said.Lower gas supplies will affect impact India's urea production, and a sustained cut would lift imports of the soil nutrient, a fertiliser industry source aware of the cuts said.Neither GAIL nor India's fertiliser ministry responded to Reuters' requests for comments.Register now for FREE unlimited access to Reuters.comGazprom Marketing and Trading Singapore (GMTS), now a subsidiary of Gazprom Germania, has failed to deliver some liquefied natural gas (LNG) cargoes to GAIL and has said it may not be able to meet supplies under their long-term deal. read more GAIL, which imports and distributes gas and also operates India's largest gas pipeline network, has cut supplies to some fertiliser plants by 10% and restricted gas sales to industrial clients to the lower tolerance limit of 10%-20%, the sources said.The state-run company is operating its petrochemical complex at Pata in northern India at about 60% capacity to save gas for other clients, they said. GAIL has advanced maintenance shutdown of some units at the 810,000 tonne-a-year plant, one of the sources added.An industrial consumer said GAIL has restricted its gas quantities to a 'take or pay level', the lowest level at which it will not attract a penalty from the customer.GAIL's measures will cut gas supplies to clients by about 6.5 million cubic meters a day, while imports under the Gazprom deal were averaging about 8.5 mcmd, a separate source said.""We don't know where else we can cut supplies... Indian customers cannot afford costly spot gas,"" the second source said.This source said that GAIL has written repeatedly to Gazprom Germania about supplies under the deal.Last month, GAIL bought a spot LNG cargo at $38 per million British thermal units (mmBtu) for August loading, well above the level at which it was getting gas under its deal with Gazprom, at about $12-$14 per mmBtu.GAIL agreed a 20-year deal with Russia's Gazprom in 2012 for annual purchases of an average 2.5 million tonnes of LNG. Supplies under the contract began in 2018.GMTS had signed the deal on behalf of Gazprom. At the time, Gazprom Germania was a unit of the Russian state firm.However, following Western sanctions against Russia over its invasion of Ukraine, Gazprom gave up ownership of Gazprom Germania in early April without explanation and placed parts of it under Russian sanctions. (This story refiles to correct typographical error in headline)Register now for FREE unlimited access to Reuters.comReporting by Nidhi Verma; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.",India's GAIL rationing gas as former Gazprom unit cuts supplies.
"A Chinese national flag flies in front of HSBC headquarters in Hong Kong, China, July 28, 2020. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comHONG KONG/SINGAPORE, Aug 2 (Reuters) - HSBC's bosses will meet retail investors in Hong Kong on Tuesday, seeking to convince them that a strategy to operate as a unified bank is better for its future than a break-up mooted by top shareholder Ping An Insurance Group Co of China.The London-headquartered group is under pressure from Ping An (601318.SS) to explore options including spinning off its mainstay Asia business to increase shareholder returns. read more Hong Kong is HSBC's biggest market and represents a key investor base for the bank. Some investors in the city have been vocal in their support of Ping An's plan, making it important for Europe's largest lender to explain its position.Register now for FREE unlimited access to Reuters.comThe informal meeting, HSBC's first such in the city in three years, will discuss the bank's earnings and strategy.It comes a day after dual-listed HSBC rejected the break-up call, reported forecast-beating profit and promised chunkier dividends, in its most direct defence since news of Ping An's proposal broke in April. read more HSBC shares soared in London and Hong Kong on Monday. Ahead of the shareholder meeting on Tuesday, the Hong Kong shares fell 1.7%, in a broader market (.HSI) that was down 2.3%.According to HSBC, the venue of the meeting is the Kowloonbay International Trade & Exhibition Centre. The third floor, where the meeting will be held, can house more than 1,000 guests without social gathering restrictions, according to the building's floor plan.It was not immediately clear, though, if Hong Kong's retail shareholders have the heft to eventually force a vote on a proposal to break-up HSBC. Big institutional investors have so far not commented on the saga.Ping An, which has been building a stake in HSBC since 2017, when the bank's share price was about a third higher, has not called publicly for the break-up but has said it supports all reform proposals that could help increase the long-term value of HSBC Holdings PLC (HSBA.L).The insurer owned 8.23% of HSBC as of early February.DIVIDEND ANGSTHong Kong retail shareholders were particularly unhappy when HSBC scrapped its dividend in 2020 during the COVID-19 pandemic, following a request to lenders by the Bank of England.""Retail shareholders would welcome any proposals that change the status quo, or boost confidence of investors in management,"" said shareholder Ken Lui, founder of an HSBC shareholder group.""But why am I being vocal and support the spin-off proposal? Because I don't have confidence in management,"" he said.Lui declined to disclose details of his HSBC holdings, and it was not immediately clear how many bank shareholders are part of his investor group that was launched on Monday in support of HSBC's break-up.A Hong Kong politician has also urged HSBC to appoint Ping An's representatives to its board, and move its headquarters back to Hong Kong. read more ""We do worry if the Bank of England will order HSBC to suspend dividends again in the next wave of the pandemic,"" Christine Fong, a district council member in Hong Kong who will attend the meeting with HSBC, told Reuters.""If HSBC returns to Hong Kong, it will be less affected by UK political factors and regulation.""In 2016, HSBC decided to keep its headquarters in London, rejecting the option of shifting it back to Hong Kong after a 10-month review.HSBC Chief Executive Noel Quinn told reporters on Monday the bank is unlikely to appoint a Ping An executive to its board due to a conflict of interest.""There is the potential for conflict of interest given there is an overlap in their business model with ours in terms of insurance and banking,"" Quinn said.Register now for FREE unlimited access to Reuters.comReporting by Selena Li and Anshuman Daga; Editing by Christopher Cushing and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",HSBC aims to placate Hong Kong investors after rejecting break-up call from Ping An.
"A person jogs past a row of residential housing in south London, Britain, August 6, 2021. REUTERS/Henry NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - British house prices rose in July at the slowest monthly pace in a year and the market is likely to slow further as the cost-of-living squeeze tightens and the Bank of England keeps on raising interest rates, mortgage lender Nationwide said on Tuesday.House prices last month were 0.1% higher than in June when they rose by 0.2%. It was the weakest increase since July of last year and was below the median forecast in a Reuters poll of economists for an increase of 0.3%.In annual terms, prices were 11.0% higher than in July 2021, speeding up from growth of 10.7% in June but weaker than expected by all economists in the Reuters poll.Register now for FREE unlimited access to Reuters.comRobert Gardner, Nationwide's chief economist, said the housing market had been surprisingly buoyant so far, given the strains on households' budgets and consumer confidence plunging to a record low.""We continue to expect the market to slow as pressure on household budgets intensifies in the coming quarters, with inflation set to reach double digits towards the end of the year,"" Gardner said.Higher BoE interest rates would also cool the market if mortgage rates rose accordingly, he said.Britain's housing market has shown signs of cooling after the surge in demand for bigger homes during the COVID-19 pandemic which was turbo-charged by a now-expired tax cut for buyers.Last week, data from the BoE showed the lowest level of new mortgage approvals in June in two years and banks and building societies are braced for the biggest fall in demand for mortgages since mid-2020. read more The BoE has raised interest rates five times since December as it tries to deal with the surge in inflation and it is expected to increase borrowing costs again on Thursday with the scale of the hike the only question for investors. read more Register now for FREE unlimited access to Reuters.comWriting by William Schomberg; Editing by Kate HoltonOur Standards: The Thomson Reuters Trust Principles.","UK house prices rise at slowest pace in a year, Nationwide says."
"U.S. House of Representatives Speaker Nancy Pelosi waves after attending a meeting with Malaysia's Parliament Speaker Azhar Azizan Harun at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Nazri Rapaai/Handout via REUTERS Register now for FREE unlimited access to Reuters.comBEIJING, Aug 2 (Reuters) - China has been in communication with the United States over U.S. House of Representatives Speaker Nancy Pelosi's expected visit to Taiwan, Chinese foreign ministry spokesperson Hua Chunying said on Tuesday.Pelosi kicked off a tour of four Asian countries on Monday in Singapore amid intense speculation that she may risk the wrath of Beijing by also visiting self-ruled Taiwan. read more Register now for FREE unlimited access to Reuters.comReporting by Yew Lun Tian in Beijing, writing by Eduardo Baptista, editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",China says it is in communication with U.S. over Pelosi's expected Taiwan visit.
"U.S. House of Representatives Speaker Nancy Pelosi waves after attending a meeting with Malaysia's Parliament Speaker Azhar Azizan Harun at Malaysian Houses of Parliament in Kuala Lumpur, Malaysia, August 2, 2022. Malaysian Department of Information/Nazri Rapaai/Handout via REUTERS Register now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, and the United States said on Monday that it would not be intimidated by Chinese ""sabre rattling"" over the visit.In addition to Chinese planes flying close to the median line of the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, the source told Reuters.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative.""The person said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.In a statement on Tuesday, Taiwan's Defence Ministry said it has a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to ""enemy threats"".China's defense and foreign ministries did not immediately respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armoured vehicles on the move on Tuesday and posted pictures online.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour over the prospect of unification with Taiwan, and the topic of Pelosi's visit was the top-trending item on the Twitter-like Weibo.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would only arrive in Taiwan early on Wednesday.""Everything is uncertain,"" the person said.Taiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was visiting Malaysia on Tuesday, having begun her Asia tour in Singapore on Monday. Her office said she will also go to South Korea and Japan, but made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday.""We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated,"" Kirby said.'GROSS INTERFERENCE'Four sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record on Wednesday afternoon.The meeting is likely to take place at the National Human Rights Museum at New Taipei City, according to a source with direct knowledge of the matter.On Monday, Chinese foreign ministry spokesperson Zhao Lijian said it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that ""the Chinese People's Liberation Army will never sit idly by.""Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.""China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.The White House has dismissed China's rhetoric as groundless and inappropriate.'RIGHT TO VISIT'Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit.""The speaker has the right to visit Taiwan,"" he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu;
Writing by Tony Munroe; Editing by Stephen Coates & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit - source.
"CBS Evening News August 1, 2022 / 9:47 PM / CBS News Los Angeles port sounds alarm over cargo backlog Los Angeles port sounds alarm over cargo backlog 02:23 Just as retailers are starting to gear up for the holiday season, there are warnings of a possible nationwide shipping logjam. A shortage of rail workers, not enough rail cars and importers failing to pick up their goods are causing cargo to pile up once again at the Port of Los Angeles — a key link in the U.S. supply chain.Port director Gene Seroka said containers are already piling up and clogging the docks.""There are about 35,000 containers that are designated for rail on our docks right now,"" he said. ""A normal day looks more like 9,000 units."" Seroka said that ships could be backed up again in four to six weeks if nothing is done about the containers.Ben Nolan, an analyst specializing in transportation at Stifel Financial, said that over the last three years, railroads have lost 20% of their employees. ""A lot of that is because they cut their own workforce,"" he said. ""When you're hyper-efficient, you're ill-prepared for unexpected things like pandemics.""Nolan said railroads tried to streamline operations with a practice called ""precision scheduled railroading,"" which sometimes uses shorter trains.Union Pacific Operations Vice President Eric Gehringer said the railroad has hired hundreds of new employees.""We're handling that volume,"" he told CBS News. ""Resources beyond the railroad, that's where we need to see gains."" The rails move containers inland where merchandise is then transferred and delivered. But with truck driver shortages and a glut of goods arriving — there is nowhere to offload the containers.""The warehouses are full,"" Nolan said.""It all begins with the importer picking up their cargo inland a little bit faster,"" Seroka said.But the system could also fall apart quickly.Dockworkers at the port told CBS News they've been without a contract for a month, and rail workers said they're at the ""dead end"" after two years of negotiations. The White House recently assembled an emergency team to help railroads avoid a strike. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","""The warehouses are full"": Cargo begins clogging Port of Los Angeles amid railroad worker shortage."
"Logo of British Petrol BP is seen e at petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper PempelRegister now for FREE unlimited access to Reuters.comSummaryCompaniesProfits soar to $8.45 bln, far exceeding forecastsBP boosts dividend by 10%BP to boost spending on oil and gas, CEO saysProfits driven by strong oil trading, hit by LNGLONDON, Aug 2 (Reuters) - BP's (BP.L) second quarter profit soared to $8.45 billion, its highest in 14 years, as strong refining margins and trading prompted it to boost its dividend and spending on new oil and gas production.The strong performance caps a blowout quarter for the top Western oil and gas companies on the back of soaring energy prices that have increased pressure on governments to impose new taxes on the sector to help consumers.""The company is running well and it continues to strengthen. We have real strategic momentum,"" Chief Executive Officer Bernard Looney told Reuters.Register now for FREE unlimited access to Reuters.comBP shares were up 3.6% at the opening of trading in London.Looney, who took office in 2020 with a vow to rapidly shift BP away from fossil fuels to renewables, said that the company will increase its spending on new oil and gas by $500 million in response to the global supply crunch.""We will direct more investment towards hydrocarbons to help with energy security in the near term,"" Looney said. ""We'll probably direct about a half a billion dollars for hydrocarbons.""BP plans to maintain its overall capital expenditure this year in a range of $14 billion to $15 billion.BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase. It halved its dividend to 5.25 cents in July 2020 for the first time in a decade in the wake of the pandemic.The company also increased its share repurchases plan for the current quarter to $3.5 billion after it bought $4.1 billion in the first half of the year.The company said it expected crude oil and gas prices as well as refining margins to remain ""elevated"" in the third quarter and said it would stick to its target of using 60% of its surplus cash on share buybacks.The surge in revenue also allowed BP to sharply reduce its debt to $22.8 billion from $27.5 billion at the end of March.Reuters GraphicsBIG OIL BONANZABP brings the second quarter profit tally for the top Western oil and gas companies to $59 billion after rivals including Exxon Mobil (XOM.N) and Shell (SHEL.L) reported record earnings last week. read more Its underlying replacement cost profit, its definition of net earnings, reached $8.45 billion in the second quarter, the highest since 2008 and far exceeding analysts' expectations of $6.8 billion.That was up from $6.25 billion in the first quarter and $2.8 billion a year earlier.The strong performance was driven by strong refining margins, ""exceptional"" oil trading performance as well as higher fuel prices, although gas trading was weaker, BP said.An outage at a major U.S. Gulf Coast liquefied natural gas (LNG) plant, also weighed on profits.The Freeport LNG plant supplies BP with 4 million tonnes per year of LNG, out of a total portfolio of 18 million tonnes.The company has been able to redirect cargoes to customers to cover for the lost supply but at an elevated cost that weighed on profits, Chief Financial Officer Murray Auchincloss told Reuters.The company has allocated money to cover for the extra costs of LNG supply as a result of the Freeport outage, he said.Reuters GraphicsRegister now for FREE unlimited access to Reuters.comReporting by Ron Bousso and Shadia Nasralla; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",BP boosts dividend after profit hits 14-year high.
"Conservative leadership candidate Liz Truss speaks during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - The frontrunner to become British prime minister, Liz Truss, said she would scrap plans to restrict multi-buy deals on food and drink high in fat, salt, or sugar and would not impose any new levies on unhealthy food.Britain already taxes sugar in soft drinks, and in May delayed until October next year rules banning deals such ""buy one get one free"" on food and drink high in fat, salt or sugar due to the cost-of-living crisis. read more ""Those taxes are over,"" Truss said in an interview with the Daily Mail. ""Talking about whether or not somebody should buy a two-for-one offer? No. There is definitely enough of that.""Register now for FREE unlimited access to Reuters.comTruss said Britons wanted the government to focus on things like delivering good transport links, communications infrastructure and cutting National Health Service waiting lists.""They don’t want the government telling them what to eat,"" she said.The ban was also due to include restrictions on free refills for soft drinks in restaurants. Limits on the location of unhealthy foods in shops are still due to go ahead in October.Opinion polls of Conservative Party members, who will elect their new leader and the country's next prime minister, show Truss is leading her rival former finance minister Rishi Sunak ahead of a result due on Sept. 5.The chairman of Britain's biggest supermarket group Tesco (TSCO.L), John Allan, in June criticised Prime Minister Boris Johnson's government for not being consistent on policy, including over anti-obesity measures. read more Register now for FREE unlimited access to Reuters.comReporting by Kylie MacLellan. Editing by Andrew MacAskillOur Standards: The Thomson Reuters Trust Principles.","UK leadership candidate Truss: junk food taxes ""are over""."
"Register now for FREE unlimited access to Reuters.comSANTIAGO, Aug 1 (Reuters) - Chilean authorities started investigating on Monday a mysterious sinkhole about 25 meters (82 feet) in diameter that appeared over the weekend in a mining area in the north of the country.Chilean media showed aerial images of the sinkhole on land operated by a Canadian Lundin Mining (LUN.TO) copper mine, about 665 kilometers (413 miles) north of capital Santiago.The National Service of Geology and Mining (Sernageomin) became aware of the sinkhole on Saturday and has sent specialist personnel to the area, the agency's director David Montenegro said in a statement.Register now for FREE unlimited access to Reuters.com""There is a considerable distance, approximately 200 meters (656 feet), to the bottom,"" Montenegro said. ""We haven't detected any material down there, but we have seen the presence of a lot of water.""A sinkhole is exposed at a mining zone close to Tierra Amarilla town, in Copiapo, Chile, August 1, 2022. REUTERS/Johan Godoy Sernageomin reported the closure of areas from the entrance to the work site of the Alcaparrosa mine, located near the sinkhole.In a statement released on Monday afternoon, Lundin Mining said the sinkhole did not affect any workers or community members.""The closest home is more than 600 meters (1,969 feet) away while any populated area or public service are almost a kilometer away from the affected zone,"" the statement read.Lundin Mining owns 80% of the property and the rest is held by Japan's Sumitomo Corporation.Register now for FREE unlimited access to Reuters.comReport by Fabián Andrés Cambero; Writing by Alexander Villegas; editing by Grant McCool, Sandra Maler and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.",Chilean authorities investigate mysterious large sinkhole near copper mine.
"Mobile cranes prepare to stack containers at Thar Dry Port in Sanand in the western state of Gujarat, India, February 10, 2016. REUTERS/Amit Dave/Register now for FREE unlimited access to Reuters.comSummaryCompaniesNow expects 2022 EBITDA around $37 bln versus $30 bln previouslyQ2 revenue $21.7 bln (forecast: $19.7 bln)Q2 underlying EBITDA $10.3 bln (forecast: $8.2 bln)Shares up 3.3% in early tradeCOPENHAGEN, Aug 2 (Reuters) - Shipping group Maersk (MAERSKb.CO) on Tuesday raised its 2022 profit guidance after beating second-quarter revenue expectations as congested global supply chains boosted freight rates.The shipping industry has seen record profits in recent quarters on a surge in consumer demand and pandemic-related bottlenecks in U.S. and Chinese ports which have prompted a spike in freight rates.""Congestion in global supply chains leading to higher freight rates has continued longer than initially anticipated,"" the Copenhagen-based company said in a statement.Register now for FREE unlimited access to Reuters.comMaersk, often seen as a barometer for global trade, said it now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) of around $37 billion versus the $30 billion it forecast earlier.The guidance is based on a gradual normalisation in ocean container shipping in the fourth quarter of this year. Its previous guidance was based on that happening early in the second half of the year. read more Maersk, one of the world's biggest container shippers with a market share of around 17%, said in June that the cost of shipping goods was unlikely to abate anytime soon due to array of inflationary pressures. read more Shares in Maersk opened 3.3% higher, trading at their highest level since early June, but down around 19% from an all-time high hit in mid-January.Revenue in the second quarter stood at $21.7 billion, it said, above the $19.7 billion forecast by analysts in a poll gathered by the company.Underlying EBITDA was $10.3 billion, compared to the $8.2 billion forecast by analysts.""The strong result is driven by the continuation of the exceptional market situation within ocean (container shipping),"" the company said.Maersk is due to publish a full set of results for the second quarter on August 3.Register now for FREE unlimited access to Reuters.comReporting by Jacob Gronholt-Pedersen; editing by Kirsten Donovan and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.",Maersk lifts 2022 guidance as congested supply chain boosts rates.
"U.S. Secretary of State Antony Blinken spoke of fears over a nuclear accident in Ukraine. He told reporters late Monday that there are ""credible reports"" that Russia ""is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant.""Meanwhile, the first shipment of grain exports from Ukraine in months departed Monday from the port of Odesa. Ukrainian President Volodymyr Zelenskyy called the shipment a ""positive signal.""BP's Gelsenkirchen plant no longer uses Russian crudeShares of BP are up over 20% year-to-date.Sopa Images | Lightrocket | Getty ImagesAmid its second-quarter earnings update Tuesday, BP CEO Bernard Looney said that the firm's refinery in Gelsenkirchen, Germany, no longer uses Russian crude, down from 50%.Oil majors have been one of many sectors that have cut or significantly reduced their exposure to Russia following its invasion of Ukraine.Back in late February, BP announced it was offloading its 19.75% stake in Rosneft, a Russian-controlled oil company.— Matt ClinchUS 'deeply concerned' of Russian control of Ukrainian nuclear facilities, Blinken saysU.S. Secretary of State Antony Blinken speaks at the tenth annual review of the Nuclear Non-Proliferation Treaty at U.N. headquarters on August 01, 2022 in New York City.Spencer Platt | Getty ImagesSecretary of State Antony Blinken said the U.S. is ""deeply concerned"" about reports that Russian forces have taken over nuclear facilities in Ukraine.""There are credible reports, including in the media today, that Russia is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant,"" Blinken told reporters at the United Nations, adding that this was ""the height of irresponsibility.""""And of course, the Ukrainians cannot and will not fire back, lest there be a terrible accident involving a nuclear plant,"" he said.Blinken said that it was important that the International Atomic Energy Agency be granted access to nuclear facilities in order to safeguard against an accident.— Amanda MaciasGermany argues over nuclear shutdown amid gas supply worriesSteam rises from the cooling tower of the nuclear power plant (NPP) Isar 2 in Essenbach Germany.Armin Weigel | Picture Alliance | Getty ImagesRising concern over the impact of a potential Russian gas cutoff is fueling the debate in Germany over whether the country should switch off its last three nuclear power plants as planned at the end of this year.The door to some kind of extension appeared to open a crack after the Economy Ministry in mid-July announced a new ""stress test"" on the security of electricity supplies. It's supposed to take into account a tougher scenario than a previous test, concluded in May, that found supplies were assured.Since then, Russia has reduced natural gas supplies through the Nord Stream 1 pipeline to Germany to 20% of capacity amid tensions over the war in Ukraine. It cited technical issues that Germany says are only an excuse for a political power play. Russia recently has accounted for about a third of Germany's gas supply, and there are concerns it could turn off the tap altogether.The main opposition Union bloc has made increasingly frequent demands for an extension of the nuclear plants' lives. Similar calls are coming from the smallest party in Chancellor Olaf Scholz's coalition government, the pro-business Free Democrats.— Associated PressMacron tells Zelenskyy that Russian war crimes will not go unpunishedFrench President Emmanuel Macron says he's in favor of a price cap on Russian oil as he speaks to the media on the third and final day of the G7 summit at Schloss Elmau on June 28, 2022 near Garmisch-Partenkirchen, Germany.Sean Gallup | Getty Images News | Getty ImagesFrench President Emmanuel Macron told Ukrainian President Volodymyr Zelenskyy in a phone call that war crimes committed by Russian forces will ""not go unpunished.""""While war crimes are multiplying, the President of the Republic reaffirmed his support for the Ukrainian people and their resistance and declared his determination to ensure that these crimes do not go unpunished,"" a French presidential office source wrote in a readout of the call.During the call, the 36th exchange between the two leaders since Russia's war in Ukraine began, Macron said that France would send a team of forensic experts and a mobile DNA analysis laboratory to Ukraine.— Amanda MaciasRead CNBC's previous live blog here:",U.S. fears Russia is using a 'nuclear shield' in Ukraine; Zelenskyy calls grain shipment a 'positive signal'.
"A newspaper front page reporting about U.S. House of Representatives Speaker Nancy Pelosi is pictured in Taipei, Taiwan, August 2, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, and the United States said on Monday that it would not be intimidated by Chinese ""sabre rattling"" over the visit.In addition to Chinese planes flying close to the median line of the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, the source told Reuters.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative.""The person said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.In a statement on Tuesday, Taiwan's Defence Ministry said it has a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to ""enemy threats"".China's defense and foreign ministries did not immediately respond to requests for comment.In the southeastern Chinese city of Xiamen, which lies opposite Taiwan and is home to a large military presence, residents reported sightings of armoured vehicles on the move on Tuesday and posted pictures online.Chinese social media was abuzz with both trepidation about potential conflict and patriotic fervour over the prospect of unification with Taiwan, and the topic of Pelosi's visit was the top-trending item on the Twitter-like Weibo.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would only arrive in Taiwan early on Wednesday.""Everything is uncertain,"" the person said.Taiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was visiting Malaysia on Tuesday, having begun her Asia tour in Singapore on Monday. Her office said she will also go to South Korea and Japan, but made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday.""We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated,"" Kirby said.'GROSS INTERFERENCE'Four sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record on Wednesday afternoon.The meeting is likely to take place at the National Human Rights Museum at New Taipei City, according to a source with direct knowledge of the matter.On Monday, Chinese foreign ministry spokesperson Zhao Lijian said it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that ""the Chinese People's Liberation Army will never sit idly by.""Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.""China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.The White House has dismissed China's rhetoric as groundless and inappropriate.'RIGHT TO VISIT'Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit.""The speaker has the right to visit Taiwan,"" he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee and Sarah Wu;
Writing by Tony Munroe; Editing by Stephen Coates & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit - source.
"A2 milk is seen on a supermarket shelf in Singapore April 16, 2018. Picture taken April 16, 2018. REUTERS/Thomas White/Register now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Shares of New Zealand's a2 Milk Co Ltd (ATM.NZ) jumped more than 12% before trading in the stock was halted, after local media reported that the dairy company was close to winning an approval to sell baby formula in the United States.A2 dismissed the report. The company had in May confirmed an application to the U.S. Food and Drug Administration (FDA) seeking permission to supply baby food to the country. read more A2 Milk's stock price shot up as much as 12.2% to NZ$5.60 to hit its highest level since April 5. Australia-listed shares of the firm jumped nearly 12% to A$5.08, before eventually being halted.Register now for FREE unlimited access to Reuters.comThe media report suggested that FDA approval could be received ""as soon as this week.""""While we have been informed by the FDA that our application is under active review, at this stage there is no certainty as to the outcome of the application or the timing of any approval,"" the company said in a statement.Dairy companies in Australia and New Zealand have queued up to restock empty shelves in the United States with baby food, after the country recently relaxed its import policy to mitigate one of the biggest infant formula shortages in recent history.But barring Bubs Australia (BUB.AX), which has already shipped baby food to the U.S. in several batches, others such as Fonterra (FCG.NZ) and privately run Bellamy's Organic are yet to provide an update on the status of their respective FDA applications.French consumer goods company Danone (DANO.PA) said recently it had shipped more than 750,000 cans of its flagship Aptamil baby formula to the United States. read more Register now for FREE unlimited access to Reuters.comReporting by Harish Sridharan in Bengaluru
Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.","A2 Milk jumps before halt on FDA nod news, denies report."
"SummaryZawahiri tracked to safe house in KabulHit by Hellfire missile while standing on balcony""This terrorist leader is no more"" - BidenTaliban ""grossly violated"" Doha Agreement - BlinkenKABUL/WASHINGTON, Aug 2 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a ""precision"" strike in the centre of Kabul, the Afghanistan capital, President Joe Biden said, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri was killed when he came out on the balcony of his safe house in Kabul on Sunday morning and was hit by ""hellfire"" missiles from a U.S. drone.Register now for FREE unlimited access to Reuters.com""Now justice has been delivered, and this terrorist leader is no more,"" Biden said in remarks from the White House on Monday. ""No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out.""He said he had authorised the precision strike in downtown Kabul and that no civilians were killed.Three spokespeople in the Taliban administration in Kabul declined comment on Zawahiri's death.Taliban spokesperson Zabihullah Mujahid had previously confirmed that a strike took place in Kabul on Sunday and strongly condemned it, calling it a violation of ""international principles.""A spokesperson for the interior ministry said a house was hit by a rocket in Sherpoor, an upscale residential neighbourhood of the city which also houses several embassies.""There were no casualties as the house was empty,"" Abdul Nafi Takor, the spokesperson, said.Taliban authorities threw a security dragnet around the house in Sherpoor on Tuesday and journalists were not allowed nearby.A senior Taliban official told Reuters that Zawahiri was previously in Helmand province and had moved to Kabul after the Taliban took over the country in August last year.U.S. intelligence determined with ""high confidence"" through multiple intelligence streams that the man killed was Zawahiri, one senior administration official told reporters.""Zawahiri continued to pose an active threat to U.S. persons, interests and national security,"" the official said on a conference call. ""His death deals a significant blow to al Qaeda and will degrade the group's ability to operate.""Zawahiri succeeded bin Laden as al Qaeda leader after years as its main organizer and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire devastating attacks on the West. read more There were rumours of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.SANCTUARYOsama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/File Photo The drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.His death also raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country.""The Taliban will have to answer for al-Zawahiri's presence in Kabul, after assuring the world they would not give safe haven to al-Qaeda terrorists,"" Adam Schiff, chairman of the House Permanent Select Committee on Intelligence, said in a statement.U.S. Secretary of State Antony Blinken said the Taliban had ""grossly violated"" the Doha Agreement between the two sides by hosting and sheltering Zawahiri.Former President Barack Obama joined lawmakers in praising the operation.""Tonight’s news is also proof that it’s possible to root out terrorism without being at war in Afghanistan,"" Obama said in a Twitter message. ""And I hope it provides a small measure of peace to the 9/11 families and everyone else who has suffered at the hands of al Qaeda.""Reuters GraphicsRepublican U.S. Senator Marco Rubio said: “The world is safer without him in it and this strike demonstrates our ongoing commitment to hunt down all terrorists responsible for 9/11 and those who continue to pose a threat to U.S. interests."" saidUntil the U.S. announcement, Zawahiri had been rumoured variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumours that he had died.The senior U.S. official said finding Zawahiri was the result of persistent counter-terrorism work. The United States found out this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said.""Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house,"" the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinize the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25 he received an updated report and authorized the strike once an opportunity was available, the administration official said.With other senior al Qaeda members, Zawahiri is believed to have plotted the October 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan’s Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle, Matt Spetalnick in Washington, Jibran Ahmad in Peshawar and Reuters staff in Kabul; Writing by Raju Gopalakrishnan; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Al Qaeda leader Zawahiri killed in U.S. drone strike in downtown Kabul.
"A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. REUTERS/David Gray/Register now for FREE unlimited access to Reuters.comSYDNEY, Aug 2 (Reuters) - Australia's central bank on Tuesday raised interest rates for a fourth month running, but tempered guidance on further hikes as it forecast faster inflation but also a slowdown in the economy.Wrapping up its August policy meeting, the Reserve Bank of Australia (RBA) lifted its cash rate by 50 basis points to 1.85%, marking an eye-watering 175 basis points of hikes since May in the most drastic tightening since the early 1990s.Yet, RBA Governor Philip Lowe also made the outlook for policy more conditional.Register now for FREE unlimited access to Reuters.com""The Board expects to take further steps in the process of normalising monetary conditions over the months ahead, but it is not on a pre-set path,"" said Lowe.That was taken as a dovish move by markets given Lowe had repeatedly stated the RBA Board wanted to get rates to a neutral level of at least 2.5%, where it theoretically would neither stimulate nor retard economic growth.Investors reacted by knocking the local dollar down 0.9% to $0.6963 , while three-year bond futures climbed 11 ticks to 97.280 as the market trimmed bets on how far and fast rates would ultimately rise.Swap markets lengthened the odds on another half point hike in September and shifted to imply a peak of around 3.31%, down from 3.41% before the RBA statement.""The statement was on the dovish side of expectations, suggesting that the discussion at the September meeting may well move back to the 25bp or 50bp debate,"" said Adam Cole, a strategist at RBC Capital Markets.Lowe also updated the RBA's economic forecasts, saying consumer price inflation was expected to peak around 7.75% compared to 7% previously and 6.1% in the June quarter.Inflation was not seen returning to the top of the RBA's 2-3% target band until 2024.Forecasts for economic growth were downgraded to 3.25% over 2022 and 1.75% in each of the following years. Previously the bank had forecast growth of 4.2% in 2022 and 2.0% in 2023.KEEPING AN EVEN KEELLowe had argued the economy could withstand the pain with unemployment at 48-year lows of 3.5% and job vacancies at all-time highs. Household demand has fared relatively well, thanks in part to A$260 billion ($178.59 billion) in extra savings amassed during pandemic lockdowns.Yet, higher borrowing costs are proving a heavy drag on spending power given households owe A$2 trillion in mortgage debt and home values are now in sharp retreat after a bumper 2021. read more The hikes delivered so far will add around A$560 a month in repayments to the average A$620,000 mortgage, and that is on top of surging bills for energy and food.Lowe has come in for some criticism over the rapid series of hikes with one local tabloid calling for him to quit his job.Treasurer Jim Chalmers has defended the central bank's independence, though he recently launched a review of policy making and the Board to see if it needed modernising.Lowe himself on Tuesday conceded the bank was walking a ""narrow path"" between taming inflation and keeping the economy on an ""even keel"".Register now for FREE unlimited access to Reuters.comReporting by Wayne Cole; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.","Australia's central bank hikes rates, says policy not on pre-set path."
"BondsPublished Tue, Aug 2 20223:02 AM EDTThe moves come at a time when many investors are questioning whether the Federal Reserve will have to reduce the pace of monetary tightening, given that several economic readings have shown the United States economy is slowing down.Investors are also monitoring Tuesday U.S.-China relations as Pelosi is expected to meet with Taiwanese officials despite objections from China.On the data front, there will be new job numbers, rental vacancy rates and homeowner figures at 10 a.m. ET. Chicago Fed President Charles Evans is also due to speak at that time. St. Louis Fed President James Bullard is addressing an audience at 6:45 p.m. ET.",U.S Treasury yields move lower ahead of Pelosi's expected Taiwan visit.
"Chinese and Taiwanese printed flags are seen in this illustration taken, April 28, 2022. Picture taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Several Chinese warplanes flew close to the median line of the sensitive Taiwan Strait on Tuesday morning, a source briefed on the matter told Reuters, as tensions mounted on news U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan during the day.The source said several Chinese warships have stayed close to unofficial dividing line since Monday, adding that Taiwan had dispatched aircraft to monitor the situation.Taiwan's defence ministry was not immediately able to respond to a request for comment.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative."" Neither side's aircraft normally cross the median line.The person said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.China claims democratically-ruled Taiwan as its own territory and has ramped up military and political pressure to try and force the island to accept Chinese rule.Taiwan rejects China's claims and vows to defend itself.Register now for FREE unlimited access to Reuters.comReporting By Yimou Lee; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.",Several Chinese warplanes fly close to median line of Taiwan Strait - source.
"Politics August 1, 2022 / 10:06 PM / CBS News Primary elections in five states Tuesday Primary elections will take place in five states on Tuesday 06:07 Former President Donald Trump on the eve of the Missouri primaries gave his much-coveted endorsement in the Republican primary for Missouri's open Senate seat, but there was some confusion about who had been selected.""I trust the Great People of Missouri, on this one, to make up their own minds, much as they did when they gave me landslide victories in the 2016 and 2020 Elections, and I am therefore proud to announce that ERIC has my Complete and Total Endorsement!"" Trump wrote in a statement Monday night.And with that, Trump apparently eliminated anyone in the field of 19 who is not named Eric. There are two leading candidates who share the first name: Attorney General Eric Schmitt and former Attorney General Eric Greitens, and one candidate trailing them. The semi-endorsement came as Schmitt has broken ahead in recent polls, including one by Emerson College released in late July where he led Rep. Vicky Hartzler by 12 points. Greitens was third in that poll. Former President Donald Trump speaks at a ‘Save America’ rally in support of Arizona GOP candidates on July 22, 2022 in Prescott Valley, Arizona. Arizona's primary election will take place August 2. Mario Tama / Getty Images Greitens, a controversial candidate who resigned in 2018 after a sex scandal and misuse of campaign funds, has been dropping in the polls since June after more than $11 million has been spent on the airwaves by outside groups to keep him from winning the primary and potentially putting this state at play in November's general election. Earlier this year, Greitens' ex-wife has also claimed he abused her and their son, allegations that the Greitens campaign has denied. Sheena Greitens repeated the allegations on Twitter on Monday. Shortly after Trump's statement, both Greitens and Schmitt claimed to have Trump's full support. ""President Trump has looked at the candidates and all that's at stake in this race, and he has given me his COMPLETE AND TOTAL ENDORSEMENT!"" read a campaign fundraising email from Schmitt.""Honored to have the support of President Trump! We will MAGA! "" Greitens tweeted. Greitens also has ties to Donald Trump Jr. and Kimberly Guilfoyle, and he tweeted a video of Guilfoyle backing him. Making matters more complicated, there is a third Eric in the race: Eric McElroy. In a statement, Hartzler said ""Congrats to Eric McElroy. He's having a big night.""Trump said in July that he explicitly would not endorse Hartzler. Aaron Navarro Aaron Navarro is an associate producer for the political unit at CBS News, focusing on House and gubernatorial campaigns as well as the census and redistricting. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Trump endorses ""ERIC"" in Missouri GOP Senate primary. There's more than one Eric in the race."
"A man counts Indian currency notes inside a shop in Mumbai, India, August 13, 2018. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comMUMBAI, Aug 2 (Reuters) - The Indian rupee jumped to a one-month high on Tuesday, as falling U.S. Treasury yields and easing bets of aggressive Federal Reserve monetary action amid recession fears kept the dollar under pressure.The partially convertible rupee was trading around 78.87 per dollar, as of 0425 GMT, hitting its strongest level since July 1. On Monday, it had closed at 79.02.""Diminishing odds for more aggressive Fed rate hikes continue to weigh on the dollar,"" said Kunal Sodhani, assistant vice president at Global Trading Center, FX and Rates Treasury at Shinhan Bank.Register now for FREE unlimited access to Reuters.com""Brent crude prices heading below $100 per barrel, along with the comeback of foreign institutional investor equity inflows, are assisting the rupee.""Sliding U.S. Treasury yields also dragged on the dollar, as investors bought safe-haven assets such as bonds on fears that U.S. Speaker Nancy Pelosi's visit to Taiwan would ratchet up tensions between Beijing and Washington.Markets were already worried about major economies China, Japan and the United States reporting weak factory activity data at the start of the week.Investors now await the Reserve Bank of India's monetary policy decision on Friday where the central bank is expected to raise its key interest rate.However, there was no consensus among analysts on the size of the move given the absence of any clear guidance from the central bank, according to a Reuters poll. Predictions from the 63 economists polled by Reuters ranged from a 25-bp to 50-bp hike. read more Register now for FREE unlimited access to Reuters.comReporting by Anushka Trivedi in Mumbai; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.","Indian rupee hits 1-month high as Treasury rally, recession fears weigh on dollar."
"Golf - The 150th Open Championship - Old Course, St Andrews, Scotland, Britain - July 15, 2022 Tiger Woods of the U.S. acknowledges spectators after finishing his second round REUTERS/Russell CheyneRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Tiger Woods turned down a sum in the region of $700-800 million to join the Saudi-backed LIV Golf Invitational Series, the breakaway circuit's CEO Greg Norman told Fox News.Norman said the offer was made before the Australian was named chief of the controversial series, which is bankrolled by Saudi Arabia's Public Investment Fund.""That number was out there before I became CEO. So that number has been out there, yes,"" two-times major winner Norman said in an interview that aired on Monday night.Register now for FREE unlimited access to Reuters.com""Look, Tiger is a needle mover, right? So, of course you're got to look at the best of the best. They had originally approached Tiger before I became CEO. That number is somewhere in that ($700-800 million) neighbourhood.""LIV Golf has signed several marquee players for the series, including Phil Mickelson, Dustin Johnson and Bryson DeChambeau, but 15-times major champion Woods has stayed committed to the PGA Tour.Former world number one Woods said before last month's British Open that he disagreed with the decision by players to join the LIV Series and compared the circuit, which features huge guaranteed contracts and a 54-hole format, to the senior Champions Tour.""I think that what they've done is they've turned their back on what has allowed them to get to this position,"" he said. read more Register now for FREE unlimited access to Reuters.comReporting by Dhruv Munjal in New Delhi; Editing by Peter Rutherford Our Standards: The Thomson Reuters Trust Principles.","Woods rejected $700-800 million LIV offer, says Norman."
"A wind turbine of the Siemens Gamesa company located at the Port of Arinaga is seen from Arinaga beach on Gran Canaria Island, Spain, May 2, 2022. Picture taken May 2, 2022. REUTERS/Borja SuarezRegister now for FREE unlimited access to Reuters.comMADRID, Aug 2 (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) lowered its 2022 profitability expectations even further on Tuesday and said it would remain negative through 2023, citing expensive raw materials, component failures and geopolitical uncertainty.Making masts and blades for wind turbines has proved a tough business in recent years despite strong demand from governments banking on wind energy to wean themselves off fossil fuels. Challenges have included competition, COVID-19 disruption and runaway metals prices exacerbated by war in Ukraine. read more Siemens Gamesa has struggled in particular, partly with delivering new products. This prompted its majority shareholder Siemens Energy (ENR1n.DE) to launch a 4.05 billion euro ($4.2 billion) bid to buy the one-third stake it does not already own.Register now for FREE unlimited access to Reuters.comThe turbine maker has launched ""staffing and footprint optimization actions"", it said on Tuesday, but gave no details beyond saying it would be carried out globally.People familiar with the matter told Reuters the firm is considering cutting around 2,500 jobs, or about 9% of its workforce. read more The company said it now expects its full-year core earnings margin, excluding certain costs, to be minus 5.5%, from a previous view of minus 4%, even including the impact of capital gains from the sale of its wind farm development division.Component failures and repairs, mostly at its onshore business, cost 113 million euros, around 4.6% of revenue, in the third quarter.Register now for FREE unlimited access to Reuters.comReporting by Isla Binnie; Editing by Christian Schmollinger and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Wind turbine maker Siemens Gamesa cuts profitability forecast further.
"LONDON — European markets are set to pull back slightly on Tuesday, tracking risk-off sentiment globally as investors assess whether last month's rally has further to run.Britain's FTSE 100 is seen around 20 points lower at 7,393, Germany's DAX is set to slip by around 67 points to 13,413 and France's CAC 40 is expected to drop around 24 points to 6,413.The pan-European Stoxx 600 finished Monday's trading session fractionally lower to begin August, after closing out its best month since November 2020.Shares in Asia-Pacific retreated overnight, with mainland Chinese markets leading losses as geopolitical tensions rose over U.S. House Speaker Nancy Pelosi's possible visit to Taiwan.U.S. stock futures fell in early premarket trading after slipping lower to start the month, with not all investors convinced that the pain for risk assets is truly over.The dollar and U.S. long-term Treasury yields declined on concerns about Pelosi's Taiwan visit and weak data out of the United States, where data on Monday showed that manufacturing activity weakened in June, furthering fears of a global recession.Oil also retreated as manufacturing data showed weakness in several major economies.Earnings remain a key driver of individual share price movement. BP, Ferrari, Maersk and Uniper were among the major European companies reporting before the bell on Tuesday.The first Ukrainian ship — bound for Lebanon — to carry grain through the Black Sea since the Russian invasion left the port of Odesa on Monday under a safe passage deal, offering some hope in the face of a deepening global food crisis.Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.","European stocks set to retreat, tracking global risk-off sentiment."
"Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - The U.S. dollar slid to its lowest level in two months against the recovering Japanese yen while the Aussie dollar tumbled even after the central bank raised rates, as investors reposition for less aggressive interest rate rises globally.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi were also driving some safe-haven flows to the yen, while weighing on other Asian currencies and other risk-friendly assets like stocks. read more The greenback fell as low as 130.4 yen in early trading, its lowest since June 3, and was last down 0.55% , leaving it with more than a 4% decline in the past four sessions.Register now for FREE unlimited access to Reuters.com""It's the same old story with the yen being very sensitive to the gap between U.S. and Japanese government bond yields. Of course Japanese ones aren't moving because of Japan's yield curve control policy, but U.S. yields have dropped a lot,"" said Redmond Wong, market strategist at Saxo Markets Hong KongThe benchmark 10-year Treasury yield fell to 2.516%, its lowest since April, on Tuesday. Investors are beginning to position themselves for the U.S. Federal Reserve to pivot away from raising interest rates aggressively to combat inflation and towards worrying more about an economic slowdown.Wong said this repricing of expectations for Fed rate hikes was probably overdone and lower energy prices were also helping the yen, since Japan was a net importer of energy. The currency was also benefiting from some safe-haven flows due to worries about Pelosi's visit.In a similar vein, the Australian dollar slipped 1% after the Reserve Bank of Australia raised rates by 50 basis points to 1.85%, in line with expectations. The bank said that even though more tightening was expected, it was not on a pre-set path. read more CBA analysts said in a note to clients that the central bank's remarks implied ""a pragmatism in how the RBA will make policy decisions over the period ahead. We do not believe they are in a rush to take the policy rate much above their estimate of neutral (around 2.5%).""China's offshore yuan touched 6.7957 per dollar on Tuesday, its weakest since mid-May. Wong attributed this partly to the tensions around Pelosi's visit as well as poor economic data from China over the weekend.The Taiwan dollar slipped to its lowest levels in more than two years, as the dollar climbed 0.2% past the symbolic 30 level. (.TWII)The greenback was also weaker generally, with sterling at $1.225, just off a five-week peak hit overnight, and the euro was also on the front foot at $1.0274.This sent the dollar index , which measures the greenback against six peers, down 0.19% to 105.2, a one-month low.Bitcoin was touch softer at $22,900.Register now for FREE unlimited access to Reuters.comReporting by Alun John; Editing by Bradley Perrett and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Aussie tumbles after RBA, yen recovery continues on lower U.S. yields."
"Logo of British Petrol BP is seen e at petrol station in Pienkow, Poland, June 8, 2022. REUTERS/Kacper PempelRegister now for FREE unlimited access to Reuters.comLONDON, Aug 2 (Reuters) - BP (BP.L) on Tuesday reported a second quarter profit of $8.45 billion, its highest in 14 years, as strong refining margins and oil trading helped it boost its dividendand share repurchases.BP increased its dividend by 10% to 6.006 cents per share, more than its previous guidance of a 4% annual increase.It raised its share buyback programme to $3.5 billion for the third quarter from $2.5 billion in the previous three months, in line with its policy of using 60% of cashflow for the repurchase of its own shares.Register now for FREE unlimited access to Reuters.com""BP continues to build a track record of delivery against its disciplined financial frame,"" Chief Financial Officer Murray Auchincloss said in a statement.BP's underlying replacement cost profit, its definition of net earnings, reached $8.45 billion in the second quarter, the highest since 2008 and far exceeding analysts' expectations of $6.8 billion.That compares with a $6.25 billion profit in the first three months of 2022 and $2.8 billion a year earlier.Register now for FREE unlimited access to Reuters.comReporting by Ron Bousso and Shadia Nasralla; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.","BP reports Q2 profit of $8.45 billion, boosts dividend."
"A BP gas station in Madrid, Spain.Sopa Images | Lightrocket | Getty ImagesLONDON — U.K. oil giant BP on Tuesday reported bumper second-quarter profits, benefitting from a surge in commodity prices.The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $8.5 billion.That compared with a profit of $6.2 billion in the first three months of the year and $2.8 billion for the second quarter of 2021. Analysts had expected BP to report first-quarter profit of $6.3 billion, according to Refinitiv. BP also announced Tuesday a 10% increase in its quarterly dividend payout to shareholders, raising it to 6.006 cents per ordinary share.Shares of BP are up nearly 20% year-to-date.BP's results once again underscore the stark contrast between Big Oil's profit bonanza and those grappling with a deepening cost of living crisis.The world's largest oil and gas companies have shattered profit records in recent months, following a surge in commodity prices prompted by Russia's invasion of Ukraine.For many fossil fuel firms, the immediate priority appears to be returning cash to shareholders via buyback programs.Last week, BP's U.K. rival Shell reported record second-quarter results of $11.5 billion and announced a $6 billion share buyback program, while British Gas owner Centrica reinstated its dividend after a massive increase in first-half profits.Cost of living crisisEnvironmental campaigners and union groups have condemned Big Oil's surging profits and called on the U.K. government to impose meaningful measures to bring down the cost of rising energy bills.Last month, a cross-party group of U.K. lawmakers called on the government to increase the level of support to help households pay rising energy bills and outline a nationwide plan to insulate homes.A price cap on the most widely used consumer energy tariffs is expected to rise by more than 60% in October due to surging gas prices, taking average household yearly dual fuel bills to more than £3,200 ($3,845).Fuel poverty charity National Energy Action has warned that if this happens, it would push 8.2 million homes — or one-in-three British homes — into energy poverty. Fuel or energy poverty refers to when a household is unable to afford to heat their home to an adequate temperature.""Clearly not everyone is struggling with the energy crisis,"" Sana Yusuf, energy campaigner at Friends of the Earth, said in reaction to Shell and Centrica's results. ""These bumper profits will be greeted with disbelief by the millions of people across the UK who are faced with rocketing energy prices.""Yusuf called on the U.K. government to impose a tougher windfall tax on energy firms. ""The bulk of these profits should be used to insulate our homes and help cash-strapped households pay for their heating this winter, rather than developing more fossil fuel projects that roast the planet,"" Yusuf said.The burning of fossil fuels, such as oil and gas, is the chief driver of the climate crisis and researchers have found fossil fuel production remains ""dangerously out of sync"" with global climate targets.Speaking in June, U.N. Secretary-General Antonio Guterres called for an abandonment of fossil fuel finance, describing new funding for fossil fuel exploration as ""delusional.""",Oil major BP boosts dividend as quarterly profits jump on high commodity prices.
"Ousted Pakistani Prime Minister Imran Khan gestures as he travels on a vehicle to lead a protest march in Islamabad, Pakistan May 26, 2022. REUTERS/Akhtar SoomroRegister now for FREE unlimited access to Reuters.comISLAMABAD, Aug 2 (Reuters) - Pakistan's election commission ruled on Tuesday that former Prime Minister Imran Khan's party had received illegal funds, several local TV channels said.In a case that has dragged on for years, Khan's party was accused of receiving funds from abroad, which is illegal in Pakistan.The decision could pave the way for the banning of Khan and his party from politics.Register now for FREE unlimited access to Reuters.comReporting by Asif Shahzad; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Pakistan's election commission rules former PM Khan's party received illegal funds - local media.
"A man reads the Global Times newspaper that features a front page article about U.S. House of Representatives Speaker Nancy Pelosi's Asia tour at a street display wall in Beijing, China, August 1, 2022. The front page headline reads: ""Pelosi visits Asia in the smell of gunpowder."" REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comA look at the day ahead in markets from Anshuman DagaJust as markets seemed to factor in a less hawkish Federal Reserve and relief for economies and businesses, politics is playing spoilsport.Tensions have flared up with the U.S. House of Representatives Speaker Nancy Pelosi preparing to arrive in Taiwan on Tuesday, as part of her Asia tour. read more Register now for FREE unlimited access to Reuters.comThe United States says it won't be intimidated by Chinese threats to never ""sit idly by"" if Pelosi makes the trip to the self-ruled island claimed by Beijing.The White House - which would not confirm the trip - said she had the right to go. But China has repeatedly warned against a visit by Pelosi.The relationship between the world's two biggest economies hasn't been smooth and analysts see the visit by Pelosi, a long-time critic of China, as unsettling for markets.Rising risk aversion has forced Chinese stocks (.CSI300) to drop by the most in three months and the Taiwan dollar is at its lowest level in more than two years.The nervousness is most evident in U.S. Treasuries, with yields on the 10-year Treasuries falling up to 9 basis points to 2.5160%, a four-month low, and retreating from an 11-year high of 3.4980% struck in mid-June.The fragile market undertone follows weak economic data.Surveys on Monday showed that factories across the United States, Europe and Asia struggled for momentum last month on sluggish global demand and China's strict COVID-19 restrictions.That sent oil prices to the lowest in two weeks while gold bulls pushed up prices of the yellow metal to four-week highs.European stock futures indicated a weak start on Tuesday.In Europe, German retail sales posted the biggest year-on-year slump since 1994 on Monday, with a 8.8% fall in real terms.Down Under, investors were bit relieved after Australia's central bank raised its cash rate by 50 basis points as expected but tempered guidance on further hikes ahead as it wrestles with rising inflation and a slowing economy.Key developments that should provide more direction to markets on Tuesday:Australia's central bank raises rates: read more Federal Reserve Bank of Chicago President Charles Evans talks on the economy and monetary policyMajor earnings: BP, Generali, DuPont, Caterpillar, StarbucksRegister now for FREE unlimited access to Reuters.comReporting by Anshuman Daga; Editing by Vidya RanganathanOur Standards: The Thomson Reuters Trust Principles.",Morning Bid: In pursuit of Pelosi's plane.
"A person holds a booklet with illustrations of Taiwan armed forces and Chinese People's Liberation Army (PLA), during a first aid training in Taipei, Taiwan July 23, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan is preparing its air-raid shelters as rising tension with China and Russia's invasion of Ukraine raise new fears about the possibility of a Chinese attack on the democratic island.China considers Taiwan its territory and has increased military activity in the air and seas around it. Taiwan vows to defend itself and has made strengthening its defences a priority, with regular military and civil defence drills. read more The preparations include designating shelters where people can take cover if Chinese missiles start flying in, not in purpose-built bunkers but in underground spaces like basement car parks, the subway system and subterranean shopping centres.Register now for FREE unlimited access to Reuters.comThe capital of Taipei has more than 4,600 such shelters that can accommodate some 12 million people, more than four times its population.Harmony Wu, 18, was surprised to learn that an underground shopping concourse where she and other youngsters were recently rehearsing some dance moves would be turned into an air-raid shelter in the event of war.But she said she could understand why.""Having shelter is very necessary. We don't know when a war might come and they are to keep us safe,"" Wu said at the venue near a Taipei subway station.""War is brutal. We've never experienced it so we aren't prepared,"" she said.Taipei officials have been updating their database of designated shelters, putting their whereabouts on a smartphone app and launching a social media and poster campaign to make sure people know how to find their closest one.Shelter entrances are marked with a yellow label, about the size of an A4 piece of paper, with the maximum number of people it can take.A senior official in the city office in charge of the shelters said events in Europe had brought a renewed sense of urgency.""Look at the war in Ukraine,"" Abercrombie Yang, a director of the Building Administration Office, told Reuters.""There's no guarantee that the innocent public won't get hit,"" he said, adding that that was why the public had to be informed.""All citizens should have crisis awareness ... We need the shelters in the event of an attack by the Chinese communists.""'NOT STRESSED'Last month, Taiwan held a comprehensive air-raid exercise across the island for the first time since the coronavirus pandemic disrupted regular drills.Among the instructions citizens got in case of incoming missiles was to get down in their basement parking lots with their hands covering their eyes and ears while keeping their mouths open - to minimise the impact of blast waves.Some civil defence advocates say more needs to be done.Authorities are required by law to keep the shelters clean and open but they don't have to be stocked with supplies like food and water.Researchers in parliament called in June for shelters to be provided with emergency supplies.Wu Enoch of the ruling Democratic Progressive Party says the public must prepare survival kits to take with them when they seek shelter.""What's important is what you bring with you, for people to stay there for a long period of time,"" Wu said, citing medical supplies and even tools to build a makeshift toilet.After decade of sabre-rattling across the Taiwan Strait separating the democratic island from China, many Taiwan people appear resigned to living with the threat of a Chinese invasion.""I'm not stressed. I carry on with my life as usual. When it happens, it happens,"" said Teresa Chang, 17, who was also going through her paces at the underground dance practice.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee, Fabian Hamacher and Ann Wang; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.","From subway stations to shopping malls, Taiwan prepares its air-raid shelters."
"U.S. August 1, 2022 / 10:44 PM / AP Dr. Caitlin Bernard speaks out to CBS News Dr. Caitlin Bernard, doctor at the center of abortion debate, speaks out to CBS News 03:25 A Kentucky appeals court has reinstated a near-total abortion ban that took effect when the U.S. Supreme Court overturned Roe v. Wade.The ruling means most abortions are illegal in the state, for now.Attorney General Daniel Cameron asked the court for an emergency stay, which blocked a lower court's ruling. That ruling by a Louisville judge last month put two abortion bans on hold so the courts could determine if they violate Kentucky's constitution. The state's two clinics issued a media release Monday night declaring ""abortion is now banned in Kentucky,"" and said they began canceling scheduled procedures. Volunteer clinic escorts wait for patients outside the EMW Women's Surgical Center in Louisville, Kentucky, U.S., on Tuesday, Sept. 28, 2021. Bloomberg The ruling will be appealed to the Kentucky Supreme Court. ""Tonight, in one fateful moment, Kentuckians saw their reproductive freedom stolen by their elected officials,"" said Alexis McGill Johnson, president of Planned Parenthood Federation of America. ""It is devastating and cruel. But the fight is not over.""The appeals court said the ban should take effect, even if the laws are in dispute, because in Kentucky, ""a statute carries with it the presumption of constitutionality.""Kentucky's legislature passed a ""trigger law"" banning nearly all abortions, except when the health of the mother is threatened, if Roe was overturned. Lawmakers also passed a separate 6-week ban that the clinics also challenged.The lower court judge, Mitch Perry, ruled on July 22 that there is ""a substantial likelihood"" that Kentucky's new abortion laws violate ""the rights to privacy and self-determination"" protected by Kentucky's constitution. In: Abortion Kentucky Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Appeals court reinstates Kentucky's near-total abortion ban.
"The government of Mario Draghi came to an end earlier than what many analysts expected.Anadolu Agency | Anadolu Agency | Getty ImagesMario Draghi is best known for saving the euro. But a coveted rescue of the Italian economy ended prematurely when internal politics came to the fore last month, making it harder and harder for him to govern.In the space of about a week, Italy went from having a stable government to preparing for snap elections in September — which could see the far-right in charge of the next coalition in Rome. This prospect has investors questioning Italy's economic future and its broader role within European politics.Draghi ""was certainly a little bit tired of the politics within the government,"" an official working for the Italian government, who preferred to remain anonymous due to the political instability in the country and the sensitive nature of the comments, told CNBC.Once a managing director at Goldman Sachs International, Draghi became Italian prime minister in February 2021 to lead a technocratic government, backed by four main parties across the political spectrum. His arrival in Rome was welcomed by investors and European officials, who were desperate to see a safe pair of hands leading the euro zone's third-largest economy.The former European Central Bank chief delivered on several fronts, including putting together a reform plan to get more than 190 billion euros ($194.52 billion) from the EU. The disbursements are, however, linked to the completion of these reforms, so investors fear the next coalition might not follow through with Draghi's plans, and hence may not receive all of the cash from Brussels.The prime minister also revived Covid-19 vaccination efforts and contributed to an economic rebound. But throughout his mandate, Draghi had to struggle with a slew of political sensitivities.What happened?The collapse of his government came about because of those fragilities at the heart of government. It started with the Five Star Movement (M5S), a left-leaning and populist party, boycotting a vote on a package aimed at helping Italians deal with the surging cost of living. The package included a controversial waste incinerator for Rome, which M5S vehemently rallied against.The same anonymous CNBC source said M5S has a ""great following in Rome, not so much in the rest of the country, but this law was a problem for this electorate."" By not voting for the wide-ranging package and blocking it, the party was in essence against the government that they were part of, the official said.Draghi offered his resignation after the stalemate on the vote.A second Italian official, who preferred to remain anonymous due to the sensitive nature of the situation, said the move from M5S was ""a significant decision.""Draghi had ""trusted this was a national unity government,"" the official said. But with M5S abstaining from the vote on the government's bill, ""Draghi felt [it] was becoming harder and harder to enact his program,"" the official added.By late evening Wednesday July 15, Italy's President Sergio Mattarella had rejected Draghi's initial resignation and told him to build a new parliamentary consensus.In the following days, hundreds of mayors had signed a letter asking him to stay. Union leaders and industrialists also come together to ask Draghi to remain in office. And there was an online petition signed by thousands of citizens who wanted him to stay.If they said yes, [Draghi] had all the power he wanted.The next week, Draghi returned to the Italian Parliament and asked lawmakers for a new mandate. ""Are the parties and you parliamentarians ready to rebuild this pact?"" he declared in the Senate on July 20. ""Italy needs a government that can move swiftly and efficiently,"" he told lawmakers.The first CNBC source said they were surprised that Draghi asked for a new mandate to try to build unity once again. ""To be honest, his speech was really tough against M5S and the Lega [party] ... his aim was to put it clear: if we do another government, we have to continue without problems,"" the source said.""If they said yes, [Draghi] had all the power he wanted; if they said no, he could resign without being blamed for leaving the country,"" the official said.The second CNBC source stressed that Draghi was ""very concerned"" about being able to pass new laws in Parliament. Draghi was due to finish his mandate before next summer with parliamentary elections expected in June 2023.What's next?But Italy is now preparing for a new vote on September 25 with a lot at stake.""If a right-wing coalition were to win in Italy's general election on 25 September, and subsequently abandon economic reforms, it could jeopardise not only Italy's access to EU fiscal support and the ECB's new anti-fragmentation tool, but more generally future EU integration and joint debt issuance,"" George Buckley, an economist at Nomura, said in a research note last week.The upcoming election will matter not only to see where Italy's finances and fiscal strategy will be heading, but also whether Europe will continue to raise new funds together.The recovery plan came about because of the impact that the coronavirus lockdowns had on the European economies. This was so significant that the 27 members of the EU decided to raise money jointly through the European Commission, the executive arm of the EU, for the first time. Italy, because it suffered the most from the pandemic, is receiving the largest chunk of the money borrowed.However, if there are problems with the political situation of the biggest benefactor, then this could stifle more joint borrowing further down the line, including when tackling climate change or the impact from Russia's invasion of Ukraine.""Italy's next government is unlikely to bring the country's future in the euro-zone into doubt, in a repeat of the turmoil that we saw after the 2018 election. But it will probably run looser fiscal policy and find it more difficult to pass reforms,"" Jack Allen-Reynolds, senior Europe economist at Capital Economics, said in a note last week.",Draghi's political downfall: How power imploded in Italy and what happens next.
"A man wearing a protective face mask, amid the coronavirus disease (COVID-19) pandemic, walks past a screen showing Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, February 14, 2022. REUTERS/Kim Kyung-HoonRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Asia stocks tumbled on Tuesday as jitters about an escalation in Sino-U.S. tension with U.S. House of Representatives Speaker Nancy Pelosi set to begin a trip to Taiwan, adding to fears about the risk of global recession.U.S. long-term Treasury yields dropped to a four-month low, pulling the U.S. dollar down, amid a bid for safer assets after China threatened repercussions in the event of the visit by Pelosi to the self-ruled island, which China claims as its territory. Crude oil also sank.Meanwhile, Australian stocks pared declines and the Aussie dollar weakened after the central bank raised the key rate by an as-expected 50 basis points, with markets interpreting changes to the accompanying policy statement as dovish. read more Register now for FREE unlimited access to Reuters.comJapan's Nikkei (.N225) slid 1.54%, while Taiwan's stock index (.TWII) dropped 1.87%.Chinese blue chips (.CSI300) tumbled 2.47% and Hong Kong's Hang Seng (.HSI) lost 2.71%.However, Australia's equity benchmark (.AXJO) was just 0.23% lower, after an earlier decline of 0.7%MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) retreated 1.33%.U.S. e-mini stock futures pointed to a 0.44% lower restart for the S&P 500 (.SPX), which stumbled 0.28% overnight.""We knew from the onset that (Pelosi's trip) would be a driver of risk-off sentiment in the region,"" said Carlos Casanova, the senior Asia economist at Union Bancaire Privee in Hong Kong.""There's going to be a lot of speculation and uncertainty about what the extent of China's response will be in the short term.""The week began with China, Europe and the United States reporting weakening factory activity, with that in the U.S. decelerating to its lowest level since August 2020. read more That sank crude, with Brent futures edging down to $99.27 a barrel on Tuesday after losing almost $4 overnight. U.S. West Texas Intermediate futures also eased to $93.26, extending Monday's almost $5 slide.The benchmark 10-year U.S. Treasury yield fell as low as 2.53% in Tokyo trade, the lowest since April 5, amid wagers the slowdown could spur the U.S. Federal Reserve to ease off the policy-tightening pedal. The bonds also benefited from safety-seeking demand before Pelosi's Taiwan visit.That helped the U.S. dollar slide as low as 130.40 yen for the first time since June 6. The euro jumped as high as $1.0294, a level not seen since July 5.The Taiwan dollar slipped to its lowest level in more than two years on the weaker side of 30 per U.S. dollar.Meanwhile, the Aussie was 0.51% lower at $0.69910, extending a 0.14% retreat following the Reserve Bank of Australia's policy decision.It had hit the highest since June 17, at $0.7048, in the previous session but that was after bouncing off a 26-month trough at $0.66825 in the middle of last month.""The Aussie has been underperforming other major currencies lately given global growth concerns so it really needed a hawkish surprise to reignite its recovery from 2-year lows,"" said Sean Callow, a currency strategist at Westpac in Sydney.""Instead, it got the RBA leaving the door wide open to slowing the pace of tightening at future meetings, sending AUD back below $0.70.""Register now for FREE unlimited access to Reuters.comReporting by Kevin Buckland; Additional reporting by Tom Westbrook; Editing by Robert BirselOur Standards: The Thomson Reuters Trust Principles.",Asian stocks slide with U.S. yields on Pelosi jitters; Aussie drops.
"A representation of virtual currency bitcoin and a U.S. one dollar banknote are seen in front of a stock graph in this illustration taken January 8, 2021. REUTERS/Dado RuvicRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - It's been a good month for bitcoin - and we haven't said that for a while.After months of freefall, it jumped more than 17% in July, its best performance since October. Ether rose 57%, its strongest monthly gain since January 2021.The rally was in step with gains of riskier assets such as stocks as investors bet that economic weakness could deter the Fed from aggressively tightening monetary policy.Register now for FREE unlimited access to Reuters.comBitcoin's 40-day correlation to the tech-focused Nasdaq (.IXIC) now stands at 0.90 - up from 0.41 in January - where 1 means their prices move in perfect lockstep.The leading cryptocurrency has been consistently positively correlated with the Nasdaq since late November, unlike in previous years where it would routinely turn negative, meaning they moved in opposite directions.Itai Avneri, deputy CEO at cryptocurrency trading platform INX, described July's convergence as ""good news"".""It means institutional investors are looking at bitcoin like any other asset,"" he said. ""When the market turns - and it will turn – these institutions will come back and invest in crypto.""Gains were not limited to bitcoin, as the value of the global cryptocurrency market crept back above $1.15 trillion last month, adding over $255 billion since the end of June, CoinGecko data showed.Assets under management in digital asset investment products rose 16.9% to $25.9 billion in July, reversing June's decline of 36.8%, according to research firm CryptoCompare.However, trading has been thin - indicating plenty of investors gauge it's too early to turn bullish in a deeply uncertain macro backdrop with inflation rampant, and America and Europe staring down the barrel of a recession, not to mention the implosion of some big crypto players.Average daily volumes across all digital asset investment products fell by 44.6% to $122 million, the lowest since September 2020, CryptoCompare found.""On a medium-term horizon, we're bearish (on crypto) despite the current bounce, this aligns with our stance on equities,"" researchers at MacroHive wrote on Friday, citing inflation, recession risks and rate hikes.A LONG WAY FROM $60,000Bitcoin is currently trading at $23,336, consolidating around the $24,000 mark after touching that level last week.It will likely continue to trade in a tight range of around $20,000, plus or minus 10% to 15%, until there is more clarity over the economy's trajectory, according to Chris Terry, vice-president at lending platform SmartFi.""We could be in this stalled market for weeks and weeks.""On the flip side, if the United States enters a prolonged recessionary period and the Fed is forced to cut interest rates, bitcoin could benefit, said Russell Starr, CEO of Valour, which creates exchange-traded products for digital assets.""You're going to have to see another quarter of recession before you see a resumption back up to the lofty $60,000 levels,"" he said.For investors who dove into crypto during its surge at the height of pandemic-era easy monetary policy, the next several months could be quite bumpy, according to Adrian Kenny, senior sales trader at GlobalBlock.""There is still an undoubtedly considerable mountain to climb in terms of 'normality' or the hopes of a return to the highs of 2021 anytime soon.""Register now for FREE unlimited access to Reuters.comReporting by Medha Singh and Lisa Pauline Mattackal in Bengaluru; Editing by Vidya Ranganathan and Pravin CharOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Cryptoverse: Bitcoin beats the heat in a jumpin' July.
"Golf - Scottish Open - The Renaissance Club, North Berwick, Scotland, Britain - July 8, 2022 England's Luke Donald in action on the first hole during the second round Action Images via Reuters/Craig Brough/File PhotoRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Team Europe's Ryder Cup captain Luke Donald is unsure if LIV Golf players will be allowed to feature in next year's event but he says he is committed to picking the strongest 12-man team to challenge the United States.Donald, 44, replaced Henrik Stenson as captain on Monday after the Swede was stripped of the role days before signing up for the lucrative Saudi-backed breakaway league. read more Golfers participating in LIV Golf events have been suspended by the PGA Tour and sanctioned by Europe's DP World Tour.Register now for FREE unlimited access to Reuters.com""Part of being a captain is to create a strong 12-man unified team, and I'll be working on that over the next 14 months,"" Donald told reporters.""Hopefully, we'll have some clarity on that situation and we can start making some decisions. There's a legal situation going on. But I don't think that situation's going to get resolved any time soon.""The $255 million LIV series, which is bankrolled by Saudi Arabia's Public Investment Fund, has shaken the sport to its core with the likes of Phil Mickelson, Dustin Johnson, Bryson DeChambeau and Bubba Watson among its marquee names.Former world number one Donald added that he had no intention of going down the same path.""I have signed a contract and I intend to see that through. I'm giving you my word that I will be here for the next 14 months,"" said the Englishman. ""I'm excited about this opportunity, I really am.""The Ryder Cup will be held in Rome from Sept. 29-Oct. 1 next year. Holders the United States will be led by twice major winner Zach Johnson.Register now for FREE unlimited access to Reuters.comReporting by Dhruv Munjal in New Delhi; Editing by Peter Rutherford Our Standards: The Thomson Reuters Trust Principles.",Ryder Cup captain Donald unsure about availability of LIV players.
"Premier Su Tseng-chang of Taiwan's Executive Yuan studies bullets while attending a news conference unveiling the largest smuggling bullet case in the history of Taiwan in Taipei, Taiwan, November 9, 2020. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan's premier on Tuesday reiterated that Taiwan ""warmly welcomes"" foreign guests, ahead of a potential visit by U.S. House of Representatives Speaker Nancy Pelosi to the self-ruled island that China claims as its own.Taiwan ""would make the most appropriate arrangements"" for such guests and respect their plans, Premier Su Tseng-chang told reporters on Tuesday when asked about Pelosi's visit.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu; Editing by Tom HogueOur Standards: The Thomson Reuters Trust Principles.",Taiwan premier 'warmly welcomes' foreign guests when asked about Pelosi visit.
"Chinese and Taiwanese printed flags are seen in this illustration taken, April 28, 2022. Picture taken April 28, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Taiwan's Defence Ministry said on Tuesday they have a full grasp of military activities near Taiwan and will appropriately dispatch forces in reaction to ""enemy threats"" as tensions rise with China.The ministry said in a statement that it has the ""determination, ability and confidence"" to ensure Taiwan's national security, adding it has made various unspecified plans for an emergency.Earlier on Tuesday, several Chinese warplanes flew close to the median line of the sensitive Taiwan Strait, a source briefed on the matter told Reuters, as tensions mounted on news U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan during the day. read more Register now for FREE unlimited access to Reuters.comReporting By Yimou Lee; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.",Taiwan says will appropriately dispatch forces in reaction to enemy threats.
"Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus MordantRegister now for FREE unlimited access to Reuters.comSummaryPrices fell to lowest in more than 2 weeks on MondayFactories squeezed by higher prices, weak customer demandU.S. targets Chinese, UAE firms in new Iran oil sanctionsAug 2 (Reuters) - Oil prices dropped again on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn just as major crude producers meet this week to determine whether to increase supply.Brent crude futures fell 77 cents, or 0.8%, to $99.26 a barrel by 0421 GMT, while WTI crude futures eased 67 cents, or 0.7%, to $93.22 a barrel.The slide came after Brent futures slumped on Monday to a session low of $99.09 a barrel, their lowest since July 15. The U.S. crude benchmark dropped to as low as $92.42 a barrel, its weakest since July 14.Register now for FREE unlimited access to Reuters.com""Crude prices tumbled after a wealth of factory activity data suggested the world is headed towards a giant global economic contraction, and on expectations for more oil output following a very good earnings season for oil companies,"" said Edward Moya, senior market analyst from OANDA, in a note.Recessionary concerns were heightened on Monday as surveys from the United States, Europe and Asia showed that factories struggled for momentum in July. Flagging global demand and China's strict COVID-19 restrictions slowed production. read more The price drops also come as market participants await the outcome of a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide on September output.Two of eight OPEC+ sources in a Reuters survey said that a modest increase for September would be discussed at the Aug. 3 meeting. The rest said output is likely to be held steady. read more A Fox Business news reporter said Saudi Arabia will push OPEC+ to increase oil production at the meeting. read more ""The upward momentums of oil prices has been gradually fading ... Once the supply and demand situation shows any sign of further deterioration, oil is likely to lead the decline among commodities,"" analysts from Haitong Futures said.Meanwhile the United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme. read more Also casting a cloud over the market is the possibility of a visit to Taiwan by U.S. Speaker of the House Nancy Pelosi, despite Beijing's warnings against it. The visit would mark the first time a high-profile U.S. official has been on the island in over 25 years, which could escalate tensions between the U.S. and China. read more Register now for FREE unlimited access to Reuters.comReporting by Stephanie Kelly and Muyu Xu; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Oil prices fall as weak factory data fuels global demand concerns.
"Test tubes labeled ""Monkeypox virus positive and negative"" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - U.S. President Joe Biden is set to name top officials from the Federal Emergency Management Agency (FEMA) and the Centers for Disease Control and Prevention (CDC) to head the response to monkeypox, the Associated Press reported on Monday.Robert Fenton, acting administrator at FEMA who helped lead mass vaccination effort for COVID-19 in February 2021, will serve as the White House coordinator to head the monkeypox response.Fenton's deputy will be Demetre Daskalakis, the director of the CDC's HIV prevention division, the news agency reported.Register now for FREE unlimited access to Reuters.comThe duo will coordinate on ""strategy and operations to combat the current monkeypox outbreak, including equitably increasing the availability of tests, vaccinations and treatments,"" the White House told AP.The White House did not immediately respond to a request from Reuters for comment.More than 3,500 monkeypox cases have been reported in the United States since the first case was confirmed in Massachusetts on May 20.The disease, which causes flu-like symptoms and skin lesions, has been declared a global health emergency by the World Health Organization.Register now for FREE unlimited access to Reuters.comReporting by Shivani Tanna in Bengaluru; Additional reporting by Alex Alper in WashingtonOur Standards: The Thomson Reuters Trust Principles.","Biden to name FEMA, CDC officials to lead U.S. monkeypox response -AP."
"A general view of tanks of Brazil's state-run Petrobras oil company following the announcement of updated fuel prices at Petrobras in Brasilia, Brazil June 17, 2022. REUTERS/Ueslei MarcelinoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Brazil state-run oil company Petrobras said on Monday it started the operation that gives Portuguese unit Petrogal Brasil access to its natural gas processing units.""The contract provides for Petrogal's access to the gas processing units, owned by Petrobras located in the states of Rio de Janeiro and Sao Paulo, linked to the Integrated Drainage System (SIE),"" the company said in a securities filing.Register now for FREE unlimited access to Reuters.comReporting by Carolina Pulice; Editing by Brendan O'BoyleOur Standards: The Thomson Reuters Trust Principles.",Brazil's Petrobras begins giving Portugal's Petrogal access to its gas processing units.
"A Chinese national flag flies in front of HSBC headquarters in Hong Kong, China, July 28, 2020. REUTERS/Tyrone SiuRegister now for FREE unlimited access to Reuters.comHong Kong/SINGAPORE, Aug 2 (Reuters) - HSBC's bosses will meet retail investors on Tuesday in Hong Kong, the biggest market for Europe's largest lender, seeking to convince them their strategy to operate as a global bank is vital to boosting growth.The London-headquartered group is under pressure from its largest shareholder, Ping An Insurance Group Co of China Ltd (601318.SS), to explore options including spinning off its mainstay Asia business to increase shareholder returns. read more The informal meeting, which will discuss earnings and strategy, comes a day after HSBC rejected the break-up call, reported forecast-beating profit and promised chunkier dividends, sending its Hong Kong-listed shares to a one-month high. read more Register now for FREE unlimited access to Reuters.comHSBC's response represented its most direct defence since news of Ping An's proposal broke in April.The lender's shares dipped 0.2% in early trading on Tuesday ahead of the meeting, in a broader Hong Kong market (.HSI) that was down 3.0%.According to HSBC, the venue of the meeting is the Kowloonbay International Trade & Exhibition Centre. The third floor, where the meeting will be held, can house more than 1,000 guests without social gathering restrictions, according to the building's floor plan.Ping An, which has been building a stake in HSBC since 2017, when the bank's share price was about a third higher, has not called publicly for the break-up but has said it supports all reform proposals that could help increase the long-term value of HSBC Holdings PLC .The insurer owned 8.23% of HSBC as of early February.Hong Kong retail shareholders were particularly unhappy when HSBC scrapped its dividend in 2020 during the COVID-19 pandemic, following a request to lenders by the Bank of England.""Retail shareholders would welcome any proposals that change the status quo, or boost confidence of investors in management,"" said shareholder Ken Lui, founder of an HSBC shareholder group.""But why am I being vocal and support the spin-off proposal? Because I don't have confidence in management,"" he said.A Hong Kong politician has also urged HSBC to appoint Ping An's representatives to its board, and move headquarters back to Hong Kong. read more ""We do worry if the Bank of England will order HSBC to suspend dividends again in the next wave of the pandemic,"" Christine Fong, a district council member in Hong Kong who will attend the meeting with HSBC, told Reuters.""If HSBC returns to Hong Kong, it will be less affected by UK political factors and regulation.""In 2016, HSBC decided to keep its headquarters in London, rejecting the option of shifting it back to its main profit-generating hub of Hong Kong after a 10-month review.HSBC Chief Executive Noel Quinn told reporters on Monday the bank is unlikely to appoint a Ping An executive to its board due to a conflict of interest.""There is the potential for conflict of interest given there is an overlap in their business model with ours in terms of insurance and banking,"" Quinn said.Register now for FREE unlimited access to Reuters.comReporting by Selena Li and Anshuman Daga; Editing by Christopher Cushing and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.",HSBC aims to soothe Hong Kong investors after rejecting break-up call from Ping An.
"A view shows traffic during evening rush hour near Beijing’s Central Business District (CBD), China April 15, 2022. Picture taken April 15, 2022. REUTERS/Tingshu WangRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - Chinese leaders told the government that this year's economic growth of about 5.5% is a guidance and not a hard target in a meeting last week, Bloomberg News reported on Tuesday citing people familiar with the matter.At the meeting, the top leaders told officials from the ministerial and provincial-level that the target will not be used to evaluate their performance, neither will there be any penalty for failing to meet the target. The leaders acknowledged that the chances of achieving the set goal are thin, the report added. (https://bloom.bg/3QbOpLH)China's State Council Information Office, which handles media queries for the central government, did not immediately respond to a Reuters request for comment.On July 28, the Chinese Politburo, after a high-level meeting, said that it would strive to achieve best possible results for economy, without mentioning the GDP target. The country will stick to ""dynamic"" zero-COVID policy and efforts to stabilise property markets, it had added then. read more China's economy has a taken a turn for the worse in second quarter of 2022 with factories switching back to the slow lane, a slump in the property sector deepening and job cuts still a widespread menace. Last week, the top leaders had signalled their preparedness to miss the GDP target this year. read more Register now for FREE unlimited access to Reuters.comReporting by Rachna Dhanrajani in Bengaluru; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","China leaders say 5.5% GDP growth is guidance, not hard target - Bloomberg News."
"A SpiceJet passenger Boeing 737-800 aircraft takes off from Sardar Vallabhbhai Patel international airport in Ahmedabad, India May 19, 2016. REUTERS/Amit Dave/File PhotoRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 2 (Reuters) - Indian low-cost carrier SpiceJet Ltd (SPJT.NS) said on Tuesday it had cleared all its outstanding principal dues with the state-run airport operator Airports Authority of India (AAI), sending its shares up nearly 5%.The airline will revert to advance payment mechanism for its daily operations, and AAI will release a 500 million rupees ($6.33 million) bank guarantee, the company added.The airline has been under the spotlight lately after a slew of incidents of technical snags on its flights and one of its Dubai-based lessors asked the regulator to deregister three of SpiceJet's planes.Register now for FREE unlimited access to Reuters.comAdding to its woes, the aviation regulator last week ordered the airline to slash its approved fleet to 50% this summer for eight weeks citing safety snags. The airline said on Monday its flight operations remained normal. read more Shares rose as much as 4.5% to 42 rupees in early trade.($1 = 78.9525 Indian rupees)Register now for FREE unlimited access to Reuters.comReporting by Tanvi Mehta and Meenakshi Maidas in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.","SpiceJet clears all dues with Airports Authority of India, shares rise."
"A photo of Al Qaeda's new leader, Egyptian Ayman al-Zawahiri, is seen in this still image taken from a video released on September 12, 2011. SITE Monitoring Service/Handout via REUTERS TVRegister now for FREE unlimited access to Reuters.comAug 2 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more U.S. PRESIDENT JOE BIDEN, IN REMARKS FROM WHITE HOUSE""Now justice has been delivered, and this terrorist leader is no more. No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out.""U.S. SECRETARY OF STATE ANTONY BLINKEN, IN STATEMENT""In the face of the Taliban’s unwillingness or inability to abide by their commitments, we will continue to support the Afghan people with robust humanitarian assistance and to advocate for the protection of their human rights, especially of women and girls.""Register now for FREE unlimited access to Reuters.comSAUDI ARABIA FOREIGN MINISTRY, CITED BY STATE NEWS AGENCY""Zawahiri is considered one of the leaders of terrorism that led the planning and execution of heinous terrorist operations in the United States and Saudi Arabia.""CANADIAN PRIME MINISTER JUSTIN TRUDEAU, ON TWITTER""The death of Ayman al-Zawahiri is a step toward a safer world. Canada will keep working with our global partners to counter terrorist threats, promote peace and security, and keep people here at home and around the world safe.""FORMER U.S. PRESIDENT BARACK OBAMA, ON TWITTER""Tonight’s news is also proof that it’s possible to root out terrorism without being at war in Afghanistan. And I hope it provides a small measure of peace to the 9/11 families and everyone else who has suffered at the hands of al-Qaeda.""Register now for FREE unlimited access to Reuters.comCompiled by Krishna N. Das; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.",Reaction to killing of al Qaeda leader Zawahiri.
"People await the start of a product launch event at Apple's new campus in Cupertino, California, U.S. September 12, 2017. REUTERS/Stephen LamRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Apple Inc is dropping its mask mandate for corporate employees at most locations, the Verge reported on Monday, citing an internal memo. (https://bit.ly/3oJ3EQN)This comes even as COVID-19 infections in the United States have been on the rise with the BA.4 and BA.5 subvariants of the Omicron variant accounting for more than 90% of infections, according to the U.S. Centers for Disease Control and Prevention.These subvariants have significant mutations from the earliest versions of Omicron and protection from vaccines wanes over time.""Don't hesitate to continue wearing a face mask if you feel more comfortable doing so,"" the report quoted Apple as saying in the internal email. ""Also, please respect every individual's decision to wear a mask or not.""Apple did not immediately respond to Reuters' request for comment outside regular business hours.Register now for FREE unlimited access to Reuters.comReporting by Kanjyik Ghosh in Bengaluru; Editing by Subhranshu SahuOur Standards: The Thomson Reuters Trust Principles.",Apple drops mask requirements for most of its corporate workers - The Verge.
"People wait for change of traffic sign in front of a shop at Ginza shopping district in Tokyo, Japan, May 28, 2022. REUTERS/Kim Kyung-Hoon/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCommittee recommends average minimum wage hike of record 3.3%Rise reflects PM Kishida's resolve to redistribute wealthMinimum wage rise follows offer for higher pay by big firmsWage hikes must be sustainable rather than one-off -analystTOKYO, Aug 2 (Reuters) - Japan's average minimum wage is set to rise at a record pace this year, the government said on Tuesday, a positive development for Prime Minister Fumio Kishida's efforts to cushion households from global commodity inflation.The health ministry formally approved a recommendation by its sub-committee that the average minimum wage for the current fiscal year ending in March 2023 be raised by 31 yen, or a record 3.3%, from the current level to 961 yen ($7.30) per hour, two ministry officials told Reuters.Kishida is counting on the hike to drive his flagship policy of distributing wealth to broader segments of the population to put Japan's economy on a sustainable recovery path.Register now for FREE unlimited access to Reuters.comThe sub-committee's recommendation, which is made each year and serves as the nationwide standard for minimum wages, was approved as it was made by the wider committee comprising management and labour union representatives as well as academics.The decision on minimum wages followed annual spring negotiations, which saw big firms offer to raise wages by over 2% to compensate employees for cost-push inflation.Minimum wages are set by the government unlike the spring wage negotiations, in which salaries are directly set between corporate management and labour unions.""Given the underlying inflation of over 2% and Japan's growth potential of around 1%, the pace of minimum wage hikes is reasonable, reflecting the premier's commitment to higher wages,"" said Yoshimasa Maruyama, chief market economist at SMBC Nikko Securities.""What's important is to drive wages higher in a sustainable manner, rather than making it a one-off move,"" he said.The government set a goal to raise the median average minimum wage to 1,000 yen or higher ""at the earliest date possible.""Japan's average wages have barely risen since 2000 despite a tight job market as subdued inflation gave companies, many of whom are wary of increasing fixed costs, an excuse to hold off pay hikes.But that is changing as rising import costs, driven by supply constraints and the war in Ukraine, push up inflation by forcing more firms to raise the prices of goods.Japan's core consumer prices rose 2.2% in June from a year earlier, a much slower pace than in many Western economies but remaining above the central bank's target for a third straight month. read more ($1 = 131.5600 yen)Register now for FREE unlimited access to Reuters.comReporting by Tetsushi Kajimoto and Leika Kihara; Editing by Leslie Adler, Sam Holmes & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.",Japan's planned record minimum wage hike opens path to sustained GDP growth.
"A newspaper front page reporting about U.S. House of Representatives Speaker Nancy Pelosi is pictured in Taipei, Taiwan, August 2, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as several Chinese warplanes flew close to the median line dividing the Taiwan Strait, a source told Reuters.China has repeatedly warned against Pelosi going to Taiwan, which it claims as its own, and the United States said on Monday that it would not be intimidated by Chinese ""sabre rattling"" over the visit.In addition to Chinese planes flying close to the median line of the sensitive waterway on Tuesday morning, several Chinese warships had remained close to the unofficial dividing line since Monday, the source told Reuters.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative.""The person said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.Neither side's aircraft normally cross the median line.Taiwan's defence ministry was not immediately able to respond to a request for comment.Taiwan's defence ministry had ""reinforced"" its combat alertness level from Tuesday morning to Thursday noon, the island's official Central News Agency reported on Tuesday, citing unidentified sources. read more CNA said the alertness level of Taiwan's armed forces is roughly categorised into ""peace time"" and ""war time"", and at the moment the level stayed at peace time, but it would be ""appropriately adjusted"" according to the level of threat.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would arrive in Taiwan early on Wednesday.""Everything is uncertain,"" the person said.Taiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was visiting Malaysia on Tuesday, having begun her Asia tour in Singapore on Monday. Her office has said she will also go to South Korea and Japan, but has made no mention of a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday.""We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated,"" Kirby said.The Taiwan dollar slipped to its lowest levels in more than two years on the weaker side of 30 per U.S. dollar and investor worries about a potential Pelosi visit and China's reaction appeared to be behind Tuesday's declines in China's yuan and north Asian stock markets (.TWII).'GROSS INTERFERENCE'One source told Reuters that the United States had informed some allies about Pelosi's visit to Taiwan. Two other sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record during her stay in Taiwan, possibly on Wednesday.Chinese foreign ministry spokesperson Zhao Lijian told a regular daily briefing on Monday that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that ""the Chinese People's Liberation Army will never sit idly by.""Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.""China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.A video by the People's Liberation Army's Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to ""stand by in battle formation, be ready to fight upon command, bury all incoming enemies.""The White House has dismissed China's rhetoric as groundless and inappropriate.Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit.""The speaker has the right to visit Taiwan,"" he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee;
Writing by Tony Munroe; Editing by Stephen Coates & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Chinese warplanes buzz line dividing Taiwan Strait before expected Pelosi visit - source.
"Chinese Ambassador to the United Nations Zhang Jun addresses a meeting of the United Nations Security Council on Russia's invasion of Ukraine, at the United Nations headquarters in New York City, New York, U.S., April 19, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - A visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would undermine China and the United States' relationship, China's U.N. Ambassador Zhang Jun said on Monday.Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it would not be intimidated by Chinese warnings to never ""sit idly by"" if she made the trip. read more ""Such a visit is apparently very much dangerous, very much provocative,"" Zhang told a news conference to mark the start of China's presidency of the U.N. Security Council for August. ""If such a visit happens it will also undermine the relationship between China and the United States.""Register now for FREE unlimited access to Reuters.comHe also said that such a visit by Pelosi should not be compared to the last time a U.S. House speaker visited the island claimed by Beijing in 1997.""An early mistake does not make the following mistake legitimate,"" Zhang said. ""Furthermore the situation in Taiwan is also changing with the support of some external forces.""""Taiwan's tendency towards independence is further developing. If we do not take appropriate, forceful action to stop it ... the situation might be even out of control,"" Zhang told reporters in New York.He urged Washington to honor its commitment to the one-China principle, which he said U.S. President Joe Biden reiterated during a call with Chinese leader Xi Jinping last week.Washington follows a ""one-China policy"" that recognizes Beijing, not Taipei, diplomatically. But it is obliged by U.S. law to provide the democratically governed Taiwan with the means to defend itself, and pressure has mounted in Congress for more explicit support.China accused the United States of double standards at the United Nations on Friday for challenging Beijing's sovereignty over Taiwan while emphasizing the principle of sovereignty for Ukraine after Russian forces invaded. read more Zhang stressed on Monday: ""We will do whatever we can to defend our sovereignty and territorial integrity.""Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Michael Martina; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.",China says Pelosi Taiwan visit would undermine U.S.-China ties.
"Politics August 2, 2022 / 12:00 AM / CBS News Nearly a year since the U.S. withdrew from Afghanistan, the humanitarian crisis and human rights record under the Taliban remains dire. Despite the demands of the U.S. and many in the international community, the rights of women in Afghanistan have deteriorated to a level unseen since the Taliban first imposed its repressive policies in the 1990s.A quarterly report released Tuesday by the special inspector general for Afghanistan Reconstruction (SIGAR) found that the USAID, State and Defense Department disbursed at least $787 million to programs focused on women and girls from 2002 to 2020.  The report found that while opportunities for Afghan women ""slowly increased"" over the course of those two decades, ultimately, women's rights in Afghanistan ""failed to achieve the structural change the U.S. and international partners had envisioned."" There were a number of obstacles, including ""inconsistent implementation"" by the prior Afghan government of women's rights policies and ""ingrained traditional social norms,"" among others. And the ongoing Taliban insurgency meant that women ""generally faced a hostile environment,"" the report said.  The U.S. continues to be the single largest aid donor to Afghanistan, providing $774 million in contributions since August 2021. But even with the infusion of cash that continues in the wake of the Taliban's takeover, it has been hard for aid agencies to figure out how to distribute it. Many aid organizations have either relocated most of their staff or left the country. Thousands of qualified Afghans who would have helped with this work are no longer on the ground. Further, aid organizations have not yet come up with a system for working under the Taliban regime. ""The world community pledged more than $1 billion in humanitarian aid to Afghanistan but delivering assistance to the most vulnerable people will require negotiations with the Taliban-led government, which has still not been internationally recognized,"" one USAID report said. ""The world cannot forget that over the last 40 years, many massive refugee outflows began in Afghanistan, including most recently into Europe in 2015,"" said Peter Kessler, UN High Commissioner for Refugees spokesperson, to CBS News. ""Afghanistan should not be allowed to fall back into the isolation and economic deprivation that saw people here and around the world suffer in the late 1990s,"" when the Taliban first came to power, in the vacuum left by the departure of the Soviets. Women must now cover themselves when in public and are subject to punishment including jail time for failure to abide by the Taliban's restrictions. Its Ministry for the Propagation of Virtue and the Prevention of Vice decrees that the ""best"" hijab for women is not to leave the house at all. In March, the Taliban banned access for girls to secondary education. The U.S. responded by canceling talks with Taliban representatives in Qatar about the $7 billion in Afghan Central Bank assets currently held in the U.S. With women largely excluded from employment opportunities and education, there has been an increase in forced marriages according to local media reports cited by SIGAR. Despite the ban, USAID partners found ""that some girls' secondary and upper secondary schools have been able to operate in six to nine provinces."" At least half the country's population is living on less than $1.90 a day. The UN World Food Programme estimates 92% of the population faces some level of food insecurity and 3 million children are at risk of acute malnutrition. The deteriorating economic conditions have increased the population's vulnerability to the influence and recruitment by ISIS-K, according to the report. It warns that economic problems could distract the Taliban from acting against ISIS-K and other potential terrorist groups.  ISIS-K, ISIS' affiliate in Afghanistan and Pakistan, claimed responsibility for the attack outside the Kabul airport that killed 13 U.S. service members and dozens of Afghan evacuees nearly a year ago, in the final chaotic days of the U.S. withdrawal. The report released Tuesday said the group had about 2,000 members as of April 2022. The U.S. has had some engagement with representatives from the Taliban, including discussions on the Taliban's commitment made in February 2020 about counterterrorism.  Lt. Gen. Scott Berrier, the head of the Defense Intelligence Agency, told Congress in May that al Qaeda so far has had difficulties reconstituting its leadership and ""to a degree,"" the Taliban have kept their word about not allowing al Qaeda to rejuvenate. On Monday, President Biden announced a major blow to al Quaeda – the last top planner of the 9/11 attacks on the U.S., Ayman al-Zawahiri, known as Osama bin Laden's No. 2 man, was killed by the U.S. over the weekend at a safehouse in Kabul. No country so far has recognized the Taliban as the official government of Afghanistan, but several countries, including China, have accepted Taliban diplomats. In March, Chinese Foreign Minister Wang Yi visited Kabul to discuss Afghanistan's mining sector and the role it could play in Chinese infrastructure projects with Taliban leadership. The war in Ukraine could exacerbate the problems Afghanistan is facing, according to the report, because Afghanistan relies heavily on imported food and fuel, and on the generosity of  international donors, whose attention could focus more and more on Ukraine instead of Afghanistan.  Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",New report on Afghanistan reconstruction shows bleak outlook for women.
"U.S. Secretary of State Antony Blinken makes remarks to the media during a news conference at the United Nations Headquarters in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - The Taliban ""grossly"" violated the Doha Agreement by hosting and sheltering al Qaeda's top leader Ayman al-Zawahiri, the U.S. Secretary of State Antony Blinken said on Monday.The United States killed leader Zawahiri in a strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more ""In the face of the Taliban’s unwillingness or inability to abide by their commitments, we will continue to support the Afghan people with robust humanitarian assistance and to advocate for the protection of their human rights, especially of women and girls,"" Blinken said in a statement.Register now for FREE unlimited access to Reuters.comReporting by Akriti Sharma in Bengaluru; editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Blinken says Taliban 'grossly' violated Doha agreement by sheltering al Qaeda's Zawahiri.
"Chinese and Taiwanese printed flags are seen in this illustration taken, April 28, 2022. Picture taken April 28, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Several Chinese warplanes flew close to the median line of the sensitive Taiwan Strait on Tuesday morning, a source briefed on the matter told Reuters, as tensions mounted on news U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan during the day.The source said several Chinese warships have stayed close to unofficial dividing line since Monday, adding that Taiwan had dispatched aircraft to monitor the situation.Taiwan's defence ministry was not immediately able to respond to a request for comment.Register now for FREE unlimited access to Reuters.comThe source said both Chinese warships and aircraft ""squeezed"" the median line on Tuesday morning, an unusual move the person described as ""very provocative."" Neither side's aircraft normally cross the median line.The person said the Chinese aircraft repeatedly conducted tactical moves of briefly ""touching"" the median line and circling back to the other side of the strait on Tuesday morning, while Taiwanese aircraft were on standby nearby.China claims democratically-ruled Taiwan as its own territory and has ramped up military and political pressure to try and force the island to accept Chinese rule.Taiwan rejects China's claims and vows to defend itself.Register now for FREE unlimited access to Reuters.comReporting By Yimou Lee; Editing by Himani SarkarOur Standards: The Thomson Reuters Trust Principles.",Several Chinese warplanes fly close to median line of Taiwan Strait - source.
"Soccer Football - Women's Euro 2022 - Final - England v Germany - Wembley Stadium, London, Britain - July 31, 2022 England's Georgia Stanway and Leah Williamson celebrate after winning Women's Euro 2022 REUTERS/Dylan MartinezRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - England captain Leah Williamson said the Lionesses had inspired women and young girls up and down the country as her team celebrated their Euro 2022 triumph in central London on Monday following their 2-1 extra-time win over Germany the day before.Sarina Wiegman's side showed off the trophy in front of thousands of hollering fans less than a day after they captured their first major title by eclipsing record eight-time European champions Germany at Wembley Stadium.""I think England have hosted an incredible tournament and we've changed the game in this country - and hopefully across Europe and across the world,"" Williamson said.Register now for FREE unlimited access to Reuters.com""We said we wanted to make our legacy about winning and that's what we did.""The legacy of the tournament was already made before that final game - what we've done for women and young girls who can look up and aspire to be us.""Thousands of fans, many draped in England flags or wearing replica shirts, packed into the fenced off celebration area in London's Trafalgar Square, with thousands more surrounding the perimeter after queues had formed at 0700 local time.The team celebrated in style on the makeshift stage, dancing and singing and lifting the trophy, a unique sight for many young England fans. The previous England senior team success was the men's side winning the World Cup in 1966, at a time when women's football was banned in the country.Some players looked a bit bleary-eyed having been up till the early hours celebrating but still roused themselves to sing classic England anthems with the crowd and take selfies.Offices around the square opened their windows to also catch a glimpse of England's heroines who have transformed many people's perceptions of the women's game with their high quality performances and ability to draw record crowds.Full back Lucy Bronze drew huge cheers in particular when she said ""there's still a lot more we can still get our hands on next year,"" referring to the World Cup which will be hosted in Australia and New Zealand in 2023.Register now for FREE unlimited access to Reuters.comReporting by Silvia Recchimuzzi in Gdansk and Christian Radnedge in London
Editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.",'Game changers' - Williamson lauds team mates as England celebrate Euros win.
"A Taliban fighter stands guard near the site where Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike over the weekend, in Kabul, Afghanistan, August 2, 2022. REUTERS/StringerRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more Zawahiri had been in hiding for years and the operation to locate and kill him was the result of ""careful patient and persistent"" work by the counter-terrorism and intelligence community, a senior administration official told reporters.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.Register now for FREE unlimited access to Reuters.comSpeaking on the condition of anonymity, the official provided the following details on the operation:* For several years, the U.S. government had been aware of a network that it assessed supported Zawahiri, and over the past year, following the United States' withdrawal from Afghanistan, officials had been watching for indications of Al Qaeda's presence in the country.This year, officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location.* Over several months, intelligence officials grew more confident that they had correctly identified Zawahiri at the Kabul safe house and in early April started briefing senior administration officials. Jake Sullivan, National Security Advisor, subsequently briefed President Joe Biden.""We were able to build a pattern of life through multiple independent sources of information to inform the operation,"" the official said.Once Zawahiri arrived at the Kabul safe house, officials were not aware of him leaving it and they identified him on its balcony - where he was ultimately struck - on multiple occasions, the official said.* Officials investigated the construction and nature of the safe house and scrutinized its occupants to ensure the United States could confidently conduct an operation to kill Zawahiri without threatening the structural integrity of the building and minimizing the risk to civilians and Zawahiri's family, the official said.* In recent weeks, the president convened meetings with key advisors and Cabinet members to scrutinize the intelligence and evaluate the best course of action. On July 1, Biden was briefed on a proposed operation in the White House Situation Room by members of his cabinet including CIA Director William BurnsBiden ""asked detailed questions about what we knew and how we knew it"" and closely examined a model of the safe house the intelligence community had built and brought to the meeting.He asked about lighting, weather, construction materials, and other factors that could affect the success of the operation, the official said. The president also requested analysis of the potential ramifications of a strike in Kabul.* A tight circle of senior inter-agency lawyers examined the intelligence reporting and confirmed that Zawahiri was a lawful target based on his continuing leadership of Al Qaeda.On July 25, the president convened his key Cabinet members and advisors to receive a final briefing and discuss how killing Zawahiri would affect America's relationship with the Taliban, among other issues, the official said. After soliciting views from others in the room, Biden authorized ""a precise tailored air strike"" on the condition that it minimize the risk of civilian casualties.* The strike was ultimately carried out at 9:48 p.m. ET (0148 GMT) on July 30 by a drone firing so-called ""hellfire"" missiles.Register now for FREE unlimited access to Reuters.comWriting by Michelle Price; reporting by Eric Beech, Alex Alper, Idrees Ali, and Jeff Mason; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",How the CIA identified and killed Al-Qaeda leader Zawahiri.
"Dutch Prime Minister Mark Rutte arrives for a meeting with Ukraine's President Volodymyr Zelenskiy, as Russia's attack on Ukraine continues, in Kyiv, Ukraine July 11, 2022. Ukrainian Presidential Press Service/Handout via REUTERS Register now for FREE unlimited access to Reuters.comAMSTERDAM, Aug 2 (Reuters) - Mark Rutte became the longest-serving prime minister in the Netherlands' history on Tuesday, a testament to his energy for the job - as well as the political survival skills he has honed over his 12-year tenure.""I feel like I'm getting to the halfway point,"" Rutte quipped at his most recent news conference on July 15 before leaving for summer vacation.A veteran conservative on the European political scene, Rutte, 55, has weathered more than a dozen domestic crises. Many Dutch voters say they are weary of his leadership - but there is no obvious alternative.Register now for FREE unlimited access to Reuters.com""It's been thing after thing after thing and people are upset,"" said Mariken van der Velden, assistant professor of political communication at Amsterdam's Free University.Recent troubles include a scandal over childcare subsidies that brought down Rutte's previous government, an incident where he claimed to have ""no active memory"" of his own earlier statements, and one in which he acknowledged erasing text messages on his phone.On Tuesday he notched his 4,310th day in office - a day longer than Ruud Lubbers who served as premier in the 1980s and early '90s.Rutte formed his first coalition in 2010 - and his fourth in October last year following an election widely seen as a referendum on his handling of the coronavirus pandemic.Van der Velden said Rutte has a knack for getting through difficult moments. Key strategies: play for time, allow others to take blame, and wait for popular opinion to solidify around solutions before backing them himself.She said Rutte had seen off challenges from far-right rivals including anti-Islam lawmaker Geert Wilders by adopting some of their positions with less inflammatory language, cornering an ""acceptably populist"" niche.Rutte's support outside his own party is weak, with 82% agreeing with the statement that he is ""past his expiration date"" in an opinion poll by broadcaster EenVandaag last week.Fewer than 25% said he was up to tackling the important issues facing the country, including energy and housing crises, after more than a decade in office.A spokesperson for Rutte's office said he was not expected to make any statement to mark the milestone. Rutte interrupted his vacation briefly last week to tweet a rebuke to farmers who had dumped trash on highways as part of ongoing protests over environmental policy.Among current European national leaders, only Hungary's Viktor Orban has been in office longer.Register now for FREE unlimited access to Reuters.comReporting by Toby Sterling in Amsterdam
Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Mark Rutte becomes Netherlands' longest-serving prime minister.
"Zaporizhzhia Nuclear Power Plant is seen from an embankment of the Dnipro river in the town of Nikopol, as Russia's attack on Ukraine continues, in Dnipropetrovsk region, Ukraine July 20, 2022. REUTERS/Dmytro SmolienkoRegister now for FREE unlimited access to Reuters.comSummaryU.S. says Russia using ""nuclear shield""First grain ship leaves UkraineUkraine says 22,000 Russian troops ready southern advanceForeign fighters enter Luhansk, says governorUkraine says recaptures 50 towns in KhersonUNITED NATIONS/KYIV, Aug 2 (Reuters) - The United States said Russia was using Ukraine's biggest nuclear power plant as a ""nuclear shield"" by stationing troops there, preventing Ukrainian forces from returning fire and risking a terrible nuclear accident.U.S. Secretary of State Antony Blinken said Washington was ""deeply concerned"" that the Zaporizhzhia plant, which Russia was accused of firing shells dangerously close to in March, was now a Russian military base used to fire on nearby Ukrainian forces.""Of course the Ukrainians cannot fire back lest there be a terrible accident involving the nuclear plant,"" Blinken told reporters after nuclear nonproliferation talks at the United Nations in New York on Monday. read more Register now for FREE unlimited access to Reuters.comRussia's actions went beyond using a ""human shield"" Blinken said, calling it a ""nuclear shield.""At the New York talks, Ukraine's Deputy Foreign Affairs Minister Mykola Tochytskyi said ""robust joint actions are needed to prevent nuclear disaster"" and called for the international community to ""close the sky"" over Ukraine's nuclear power plants with air defence systems.Russian President Vladimir Putin's Feb. 24 invasion of Ukraine has sparked the biggest conflict in Europe since World War Two, killing thousands, displacing millions and leaving large parts of Ukraine in rubble.The war has also caused a global food crisis, with Russia and Ukraine producing about a one third of the world's wheat, and Western sanctions on Russia, a major energy provider to Europe, have caused a global energy crisis.FIRST GRAINS SHIPSThe first ship to carry Ukrainian grain through the Black Sea since Russia invaded Ukraine five months ago left the port of Odesa for Lebanon on Monday under a safe passage deal.The sailing was made possible after Turkey and the United Nations brokered a grain and fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition.The Sierra Leone-flagged ship Razoni will head to the port of Tripoli, Lebanon, after transiting Turkey's Bosphorus Strait linking the Black Sea, which is dominated by Russia's navy, to the Mediterranean. It is carrying 26,527 tonnes of corn.But there are still hurdles to overcome before millions of tonnes of Ukrainian grain depart from its Black Sea ports, including clearing sea mines and creating a framework for vessels to safely enter the conflict zone and pick up cargoes. read more The United Nations has warned of the risk of multiple famines this year due to the war in Ukraine.Known as Europe's breadbasket, Ukraine hopes to export 20 million tonnes of grain held in silos and 40 million tonnes from the harvest now under way, initially from Odesa and nearby Pivdennyi and Chornomorsk, to help clear the silos for the new crop.Moscow called the Razoni's departure ""very positive"" news, but it has denied responsibility for the food crisis, saying Western sanctions have slowed its exports and accusing Ukraine of laying underwater mines at entrance of its ports.Russia and Ukraine accuse each other of laying the mines that now float around the Black Sea, drifting far from Ukraine's shores, with Romanian, Bulgarian and Turkish military diving teams defusing those that have ended up in their waters.RUSSIAN ADVANCEMENTRussia invaded Ukraine in what it called a ""special operation"" to demilitarise its neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for war.After failing to capture the capital Kyiv early in the war, Russia now aims to capture the eastern Donbas region, made up of Donetsk and Luhansk, partially occupied by Russia-backed separatists before the invasion, and capture more of the south, having already annexed Crimea from Ukraine in 2014.Ukrainian presidential adviser Oleksiy Arestovych said in an interview posted on line about 22,000 Russian troops were preparing to advance on the cities of Kriviy Rih and Mykolaiv, where a ""sufficiently large"" Ukrainian force lay in wait.In Kherson region, which is mostly under Russian control, Ukrainian troops had liberated some 50 towns, said Yuri Sobolevsky, deputy head of the ousted Kherson regional council.""Russian troop in Kherson region are sustaining considerable losses. There are now more than 300 in a military hospital that the Russians have set up in a civil hospital in the town of Beryslav,"" Sobolevsky wrote on Telegram. ""About 40 doctors have been brought in from Russia to staff the hospital.""Reuters was unable to verify the battlefield report.Serhiy Gaidai, governor of Luhansk region, which is nearly all under Russian control, said foreign fighters were arriving.""We have noticed that more and more private military companies coming into the area -- the Wagner group,"" Gaidai told Ukrainian TV, adding that these irregular forces were motivated by ""money and looting.""Russian private military firm Wagner has likely been allocated responsibility for specific sectors of the front line in eastern Ukraine, possibly as Russia is facing a major shortage of combat infantry, Britain's Ministry of Defence said in an intelligence update on Friday.Gaidai said partisans were destroying key infrastructure, including gas and water networks, in battered Luhansk towns to slow Russian forces.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Michael Perry; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","U.S. says Russia using 'nuclear shield' in Ukraine, risks terrible accident."
"A man walks behind the Reserve Bank of India (RBI) logo inside its headquarters in Mumbai, India, April 8, 2022. REUTERS/Francis MascarenhasRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 2 (Reuters) - The Reserve Bank of India will hike its key interest rate on Friday, economists polled by Reuters said, but there was no consensus on the size of the move given the absence of any clear guidance from the central bank.With inflation running at a near-decade high and the rupee trading near a record low, the RBI, which only began raising rates in May, is expected to front-load subsequent hikes to catch up with its global peers.Predictions from the 63 economists polled between July 25 and Aug. 1 ranged from a 25 basis point hike to one of 50 bps when the RBI meets on Aug. 5.Register now for FREE unlimited access to Reuters.comOver 40% of economists, 26 of 63, expected the RBI to go for a hefty 50 bps hike, taking the repo rate to 5.40%. More than one-quarter of respondents, 20 of 63, forecast a smaller 35 bp hike. About 22%, 14 of 63, said 25 bps while the remaining three said 40 bps.""The RBI should provide some clarity of thought, but when there's so much uncertainty, it's better not to come out with an expectation and then not able to match up to that,"" said Kunal Kundu, India economist at Societe Generale, who predicted a 50 bp rise.A slim majority of economists, 35 of 63, saw the repo rate already reaching 5.75% or higher by end-year, up 10 bps from a July poll, while the median expectation is for at least 6% in the second quarter of next year.The RBI has raised rates twice so far in this cycle, first catching markets off guard with a 40 bps hike at an unscheduled meeting, followed by 50 bps in June.Kaushik Das, chief economist at Deutsche Bank, said the bank hoped the RBI would agree on the merits of front-loading rate hikes.""The RBI can always reduce the pace of rate hikes from September onwards if inflation and growth momentum softens, but we think it is a risky strategy at this stage to be an outlier in delivering less than 50 bp rate hikes.""The outlook for next year was even less clear, with end-2023 forecasts ranging from 4.75% to 6.75%.With the RBI a relative laggard in the global tightening cycle, India has seen heavy capital outflows, which have helped drag the rupee to lifetime lows close to 80 per U.S. dollar.With the dollar expected to remain strong in the short- to medium-term, the RBI has few options to defend the rupee without burning through foreign currency reserves.Just over half of respondents, 20 of 38, who answered an additional question said the exchange rate is playing a larger than normal role in the RBI's interest rate deliberations.""Front-loaded rate hikes by the RBI will be complementary to their FX intervention towards managing the rupee's exchange rate,"" said Sanjay Mathur, chief economist for Southeast Asia and India at ANZ.Register now for FREE unlimited access to Reuters.comReporting by Arsh Tushar Mogre; Polling by Anant Chandak and Devayani Sathyan; Editing by Hari Kishan, Ross Finley, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",RBI to raise rates in August but no consensus on size of hike: Reuters poll.
"Water sprays on arm are seen with an electronic tattoo (e-tattoo) for the wettability test at the Korea Advanced Institute of Science and Technology (KAIST) in Daejeon, South Korea, July 26, 2022. REUTERS/Minwoo ParkRegister now for FREE unlimited access to Reuters.comDAEJEON, Aug 2 (Reuters) - South Koreans may soon be able to carry a device inside their own bodies in the form of a bespoke tattoo that automatically alerts them to potential health problems, if a science team's project bears fruit.Researchers at the Korea Advanced Institute of Science and Technology (KAIST) in the city of Daejeon southwest of Seoul have developed an electronic tattoo ink made of liquid metal and carbon nanotubes that functions as a bioelectrode.Hooked up to an electrocardiogram (ECG) device or other biosensor, it can send a readout of a patient's heart rate and other vital signs such glucose and lactate to a monitor.Register now for FREE unlimited access to Reuters.comThe researchers eventually aim to be able to dispense with biosensors.""In the future, what we hope to do is connect a wireless chip integrated with this ink, so that we can communicate, or we can send signal back and forth between our body to an external device,"" said project leader Steve Park, a materials science and engineering professor.Such monitors could in theory be located anywhere, including in patients' homes.The ink is non-invasive and made from particles based on gallium, a soft, silvery metal also used in semiconductors or in thermometers. Platinum-decorated carbon nanotubes help conduct electricity while providing durability.""When it is applied to the skin, even with rubbing the tattoo doesn't come off, which is not possible with just liquid metal,"" Park said.Register now for FREE unlimited access to Reuters.comReporting by Minwoo Park, Daewoung Kim; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.",South Korea develops nanotech tattoo as health monitoring device.
"SummaryJoined Muslim Brotherhood as a teenagerFrom a respected Cairo familyTook over al Qaeda after death of bin LadenWielded influence as ideologue, strategistLacked bin Laden's charismaDUBAI, Aug 1 (Reuters) - Ayman al-Zawahiri succeeded Osama bin Laden as al Qaeda leader after years as its main organiser and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire sizeable attacks on the West.Zawahiri, 71, was killed in a U.S. drone strike, U.S. President Joe Biden said on live television on Monday evening. U.S. officials said the attack took place on Sunday in the Afghan capital Kabul. read more In the years following bin Laden's death in 2011, U.S. air strikes killed a succession of Zawahiri's deputies, weakening the veteran Egyptian militant's ability to coordinate globally.Register now for FREE unlimited access to Reuters.comHe had watched as al Qaeda was effectively sidelined by the 2011 Arab revolts, launched mainly by middle-class activists and intellectuals opposed to decades of autocracy.Despite a reputation as an inflexible and combative personality, Zawahiri managed to nurture loosely affiliated groups around the world that grew to wage devastating insurgencies, some of them rooted in turmoil arising from the Arab Spring. The violence destabilised a number of countries across Asia, Africa and the Middle East.But al Qaeda's days as the centrally directed, hierarchical network of plotters that attacked the United States on Sept. 11, 2001, were long gone. Instead, militancy returned to its roots in local-level conflicts, driven by a mix of local grievances and incitement by transnational jihadi networks using social media.Zawahiri's origins in Islamist militancy went back decades.The first time the world heard of him was when he stood in a courtroom cage after the assassination of Egyptian President Anwar al-Sadat in 1981.""We have sacrificed and we are still ready for more sacrifices until the victory of Islam,"" shouted Zawahiri, wearing a white robe, as fellow defendants enraged by Sadat's peace treaty with Israel chanted slogans.Zawahiri served a three-year jail term for illegal arms possession, but was acquitted of the main charges.A trained surgeon - one of his pseudonyms was The Doctor - Zawahiri went to Pakistan on his release where he worked with the Red Crescent treating Islamist mujahideen guerrillas wounded in Afghanistan fighting Soviet forces.During that period, he became acquainted with bin Laden, a wealthy Saudi who had joined the Afghan resistance.Taking over the leadership of Islamic Jihad in Egypt in 1993, Zawahiri was a leading figure in a campaign in the mid-1990s to overthrow the government and set up a purist Islamic state. More than 1,200 Egyptians were killed.Egyptian authorities mounted a crackdown on Islamic Jihad after an assassination attempt on President Hosni Mubarak in June of 1995 in Addis Ababa. The greying, white-turbaned Zawahiri responded by ordering a 1995 attack on the Egyptian embassy in Islamabad. Two cars filled with explosives rammed through the compound's gates, killing 16 people.In 1999, an Egyptian military court sentenced Zawahiri to death in absentia. By then he was living the spartan life of a militant after helping Bin Laden to form al Qaeda.A videotape aired by Al Jazeera in 2003 showed the two men walking on a rocky mountainside - an image that Western intelligence hoped would provide clues on their whereabouts.THREATS OF GLOBAL JIHADFor years Zawahiri was believed to be hiding along the forbidding border between Pakistan and Afghanistan.This year, U.S. officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location, a senior administration official said.He was killed in a drone attack when he came out on the balcony of the house on Sunday morning, the official said. No one else was hurt.
Zawahiri assumed leadership of al Qaeda in 2011 after U.S. Navy Seals killed bin Laden in his hideout in Pakistan. Since then he repeatedly called for global jihad, with an Ak-47 as his side during video messages.In a eulogy for bin Laden, Zawahiri promised to pursue attacks on the West, recalling the Saudi-born militant’s threat that ""you will not dream of security until we live it as a reality and until you leave the lands of the Muslims"".As it turned out, the emergence of the even more hardline Islamic State in 2014-2019 in Iraq and Syria drew as much, if not more, attention from Western counter-terrorism authorities.Zawahiri often tried to stir passions among Muslims by commenting online about sensitive issues such as U.S. policies in the Middle East or Israeli actions against Palestinians, but his delivery was seen as lacking bin Laden's magnetism.On a practical level, Zawahiri is believed to have been involved in some of al Qaeda's biggest operations, helping organise the 2001 attacks, when airliners hijacked by al Qaeda were used to kill 3,000 people in the United States.He was indicted for his alleged role in the 1998 bombings of the U.S. embassies in Kenya and Tanzania. The FBI put a $25 million bounty on his head on its most wanted list.PROMINENT FAMILYZawahiri did not emerge from Cairo's slums, like others drawn to militant groups who promised a noble cause. Born in 1951 to a prominent Cairo family, Zawahiri was a grandson of the grand imam of Al Azhar, one of Islam's most important mosques.Zawahiri was raised in Cairo’s leafy Maadi suburb, a place favoured by expatriates from the Western nations he railed against. The son of a pharmacology professor, Zawahiri first embraced Islamic fundamentalism at the age of 15.He was inspired by the revolutionary ideas of Egyptian writer Sayyid Qutb, an Islamist executed in 1966 on charges of trying to overthrow the state.People who studied with Zawahiri at Cairo University’s Faculty of Medicine in the 1970s describe a lively young man who went to the cinema, listened to music and joked with friends.“When he came out of prison he was a completely different person,” said a doctor who studied with Zawahiri and declined to be named.In the courtroom cage after the assassination of Sadat at a military parade, Zawahiri addressed the international press, saying militants had suffered from severe torture including whippings and attacks by wild dogs in prison.""They arrested the wives, the mothers, the fathers, the sisters and the sons in a trial to put the psychological pressure on these innocent prisoners,"" he said.Fellow prisoners said those conditions further radicalised Zawahiri and set him on his path to global jihad.Register now for FREE unlimited access to Reuters.comEditing by Howard Goller, Raju Gopalakrishnan and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Ayman al-Zawahiri: from Cairo physician to al Qaeda leader.
"A photo of Al Qaeda's new leader, Egyptian Ayman al-Zawahiri, is seen in this still image taken from a video released on September 12, 2011. SITE Monitoring Service/Handout via REUTERS TVRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011. read more Zawahiri had been in hiding for years and the operation to locate and kill him was the result of ""careful patient and persistent"" work by the counter-terrorism and intelligence community, a senior administration official told reporters.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.Register now for FREE unlimited access to Reuters.comSpeaking on the condition of anonymity, the official provided the following details on the operation:* For several years, the U.S. government had been aware of a network that it assessed supported Zawahiri, and over the past year, following the United States' withdrawal from Afghanistan, officials had been watching for indications of Al Qaeda's presence in the country.This year, officials identified that Zawahiri's family - his wife, his daughter and her children - had relocated to a safe house in Kabul and subsequently identified Zawahiri at the same location.* Over several months, intelligence officials grew more confident that they had correctly identified Zawahiri at the Kabul safe house and in early April started briefing senior administration officials. Jake Sullivan, National Security Advisor, subsequently briefed President Joe Biden.""We were able to build a pattern of life through multiple independent sources of information to inform the operation,"" the official said.Once Zawahiri arrived at the Kabul safe house, officials were not aware of him leaving it and they identified him on its balcony - where he was ultimately struck - on multiple occasions, the official said.* Officials investigated the construction and nature of the safe house and scrutinized its occupants to ensure the United States could confidently conduct an operation to kill Zawahiri without threatening the structural integrity of the building and minimizing the risk to civilians and Zawahiri's family, the official said.* In recent weeks, the president convened meetings with key advisors and Cabinet members to scrutinize the intelligence and evaluate the best course of action. On July 1, Biden was briefed on a proposed operation in the White House Situation Room by members of his cabinet including CIA Director William BurnsBiden ""asked detailed questions about what we knew and how we knew it"" and closely examined a model of the safe house the intelligence community had built and brought to the meeting.He asked about lighting, weather, construction materials, and other factors that could affect the success of the operation, the official said. The president also requested analysis of the potential ramifications of a strike in Kabul.* A tight circle of senior inter-agency lawyers examined the intelligence reporting and confirmed that Zawahiri was a lawful target based on his continuing leadership of Al Qaeda.On July 25, the president convened his key Cabinet members and advisors to receive a final briefing and discuss how killing Zawahiri would affect America's relationship with the Taliban, among other issues, the official said. After soliciting views from others in the room, Biden authorized ""a precise tailored air strike"" on the condition that it minimize the risk of civilian casualties.* The strike was ultimately carried out at 9:48 p.m. ET (0148 GMT) on July 30 by a drone firing so-called ""hellfire"" missiles.Register now for FREE unlimited access to Reuters.comWriting by Michelle Price; reporting by Eric Beech, Alex Alper, Idrees Ali, and Jeff Mason; editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",How the CIA identified and killed Al-Qaeda leader Zawahiri.
"Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 2 (Reuters) - The dollar continued its decline on Tuesday, falling to its lowest in two months against the recovering Japanese yen and losing ground on other peers, as investors continued to position for a less aggressive pace of Federal Reserve interest rate hikes.Jitters about the impact of an impending visit to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi were also driving some safe-haven flows to the yen, while weighing on other Asian currencies. read more The greenback fell as low as 130.595 yen in early trading, its lowest since June 6, and was last down 0.55% , leaving it down 4% in the past four sessions.Register now for FREE unlimited access to Reuters.com""Its the same old story with the yen being very sensitive to the gap between U.S. and Japanese government bond yields. Of course Japanese ones aren't moving because of Japan's yield curve control policy, but U.S. yields have dropped a lot,"" said Redmond Wong, market strategist at Saxo Markets Hong KongThe benchmark 10-year Treasury yield fell to 2.53%, its lowest since April, in early trade on Tuesday. Investors are beginning to position themselves for the U.S. Federal Reserve to pivot away from raising interest rates aggressively to combat inflation and towards worrying more about an economic slowdown. {US/]Wong, who said this repricing of expectations for Fed rate hikes was probably overdone, added that somewhat lower energy prices were also helping the yen, since Japan was a net importer of energy. The currency was also benefiting from some safe-haven flows due to worries about Pelosi's visit.China's offshore yuan touched 6.7957 per dollar on Tuesday, its weakest since mid-May. Wong attributed this partly to the tensions around Pelosi's visit as well as poor economic data from China over the weekend.The Taiwan dollar slipped to its lowest levels in more than two years, falling past 30 per U.S. dollar. (.TWII)The greenback was also weaker generally, with sterling at $1.2256, just off a five-week peak hit overnight, and the euro was also on the front foot at $1.0294.This sent the dollar index , which measures the greenback against six peers, to 105.03 in early trade, a one-month low.Elsewhere, the Australian dollar was holding just above $0.7 ahead of a central bank meeting at which analysts are expecting a third consecutive half-point interest rate increase. read more Bitcoin was steady at $23,250.Register now for FREE unlimited access to Reuters.comReporting by Alun John; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",Yen recovery continues on lower U.S. yields; markets on edge over Pelosi.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The polio virus was present in wastewater in a New York City suburb a month before health officials there announced a confirmed case of the disease last month, state health officials said on Monday, urging residents to be sure they have been vaccinated.The discovery of the disease from wastewater samples collected in June means the virus was present in the community before the Rockland County adult's diagnosis was made public July 21. read more The U.S. Centers for Disease Control and Prevention (CDC) said in an emailed statement that the presence of the virus in wastewater indicates there may be more people in the community shedding the virus in their stool.Register now for FREE unlimited access to Reuters.comHowever, the CDC added there have been no new cases identified, and that it is not yet clear whether the virus is actively spreading in New York or elsewhere in the United States.Laboratory tests also confirmed the strain in the case is genetically linked to one found in Israel, although that did not mean the patient had traveled to Israel, officials added. The CDC said genetic sequencing also tied it to samples of the highly contagious and life-threatening virus in the United Kingdom.The patient had started exhibiting symptoms in June, when local officials asked doctors to be on the lookout for cases, according to the New York Times.""Given how quickly polio can spread, now is the time for every adult, parent, and guardian to get themselves and their children vaccinated as soon as possible,"" State Health Commissioner Dr. Mary Bassett said.There is no cure for polio, which can cause irreversible paralysis in some cases, but it can be prevented by a vaccine made available in 1955.New York officials have said they are opening vaccine clinics to help unvaccinated residents get their shots. Inactivated polio vaccine (IPV) is the only polio vaccine that has been given in the United States since 2000, according to the CDC. It is given by shot in the leg or arm, depending on the patient's age.Polio is often asymptomatic and people can transmit the virus even when they do not appear sick. But it can produce mild, flu-like symptoms that can take as long as 30 days to appear, officials said.It can strike at any age but the majority of those affected are children aged three and younger.The New York State Department of Health told Reuters that based on available evidence, it was not able to conclude for certain whether the positive polio samples stemmed from the case identified in Rockland County.""Certainly, when samples such as these are identified, it raises concerns about the potential of community spread - which is why it is critically important that anyone who is unvaccinated, particularly in the Rockland county area, gets vaccinated as soon as possible,"" the department said.The polio vaccine developed by Dr. Jonas Salk in the 1950s was heralded as a scientific achievement to tackle the global scourge, now largely eradicated nationwide. The United States has not seen a polio case generated in the country since 1979, although cases were found in 1993 and 2013.Register now for FREE unlimited access to Reuters.comReporting by Susan Heavey; Editing by Aurora Ellis and Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Polio found in New York wastewater as state urges vaccinations.
"The loss of confidence in China's property sector could feed into a contagion that would further drag down the Chinese economy, analysts warned.The comments come after beleaguered developer China Evergrande Group failed to deliver a promised $300 billion restructuring plan over the weekend.In filings with the Hong Kong stock exchange, Evergrande instead said it had ""preliminary principles'' in place for the restructuring of its offshore debts. It also said one of its subsidiaries, Evergrande Group (Nanchang), had been ordered to pay an unnamed guarantor 7.3 billion yuan ($1.08 billion) for failing to honor its debt obligations.""For the government, the priority is to break the negative feedback loop that features the high leverage ratio and the liquidity crunch on the part of the developers,"" Shuang Ding, Standard Chartered chief economist for Greater China and North Asia, told CNBC's ""Street Signs Asia.""""That leads to a mortgage boycott and very low appetite on the part of the homebuyer, and that goes back to the developer because low sales affect its liquidity.""Read more about China from CNBC ProChina is facing a mortgage repayment revolt, with homeowners across 22 cities refusing to pay their loans on unfinished housing projects.""So if this problem is not handled properly, it will have a profound impact on the economy, including the government balance sheet, the banks' balance sheet as well, and households,"" Ding said.Ding said the problems in China's property sector threaten a crucial foundation of a sturdy economy: market confidence.Land sales, which make up a dominant portion of provincial government revenue, have fallen 30% in the past year.The economist said Beijing should ringfence the issues in the property sector and deal with them holistically, rather than with a piecemeal approach, with an aim to avoid mass insolvencies. Dan Wang, Hang Seng Bank's chief China economist, said the government can do this by making sure the companies in trouble have enough money to finish building half-started homes or complete a sold project. The Chinese politburo last week signaled the country could miss its 5.5% GDP growth target for the year, while new data showed China's factory activity contracted unexpectedly in July after bouncing back from Covid-19 lockdowns in June. While Beijing is taking the property sector crisis seriously, it is unlikely the Evergrande crisis will be resolved anytime soon and may never be resolved at all, CreditSights' co-head of Asia-Pacific research Sandra Chow said. ""I think it's going to take a long time for investors to get confidence not just in Evergrande, but in the China property sector as a whole,"" Chow said.""China's property market is in difficulty, still, despite all the easing measures and asset values are still falling, especially in the lower tier regions as well. So it's going to be very difficult to rebuild confidence.""",China's economy could be dragged down by loss of confidence in property sector.
"Graham Stephan is on track to make more than $6 million this year, and he's finally allowing himself to open up his wallet.For years, the 31-year-old YouTuber cut costs anywhere he could, eschewing everything from designer clothes to coffee shops. ""No one is more frugal than me,"" he said an interview with CNBC Make It in 2019.Two years later, however, Stephan has adjusted his philosophy slightly. Though he says he's ""still really frugal"" and refuses to ever buy coffee out of the house, he now spends much more money than he used to, including on things that his younger self would have never splurged on.In the past, Stephan exclusively filmed his YouTube videos in the early morning or late evening because he didn't want to buy an air conditioner for his office. But now, he keeps several air conditioners running in his new Las Vegas home at all times.""I remember [in 2019] the contractor gave me a quote to put in an AC unit in the garage. I think it was like $3,000. I thought to myself 'Well, I could just film in the morning anyway, I could film at night,'"" he says. ""That was so stupid of me and I wish I had just splurged that extra $3,000.""It's not just comfort that Stephan has decided is worth investing in. Because he works around 10 hours a day on his five different YouTube channels, Stephan also uses his money to buy back his time.""This is a shift that probably happened for me about a year ago when I was overworked and taking on too much,"" he says.Instead of doing everything himself, he spends $130 to have a technician come once a month to maintain his swimming pool and splits $250 a month evenly with his girlfriend, Macy, to hire a cleaning person for the house. He says that the expenses are worth it to have more time to relax or put back into his work.""[A cleaner is] able to do so much more in two to three hours [and] I'm able to go and do so many other things,"" he says.Stephan is also more willing to eat out or get food delivered after long days. ""If that means I can save an hour and Macy doesn't have to cook, that to me is 100% worth it to pay that delivery fee or pay for food from a restaurant,"" he says.Now that he lives in Las Vegas, Stephan even allows himself to visit a casino every now and then, though he has very strict rules for his gambling and never bets more than $100 or $200 in a single day.""If I go to the casino, I do the same mathematics as I do for purchasing anything and I think about what game gives the best chance at me making money,"" he says. He avoids games such as slots, which have a high house advantage, and instead sticks to blackjack, baccarat and craps. ""I have a thing where if I double my money I will always walk away. I think this last month I'm up $700.""Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Kevin O'Leary explains why he isn't leaving all his money to his kids",A 31-year-old 'frugal' millionaire explains why he decided to start spending more money.
"Taiwan Semiconductor Manufacturing Company (TSMC) Fab 15B, one of the company's four giga semiconductor fabrication plants, is pictured in Taichung, Taiwan, Sept. 2, 2021. REUTERS/Yimou Lee/File PhotoRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - Shares of Taiwan chipmaker TSMC (2330.TW) fell as much as 2.98% on Tuesday, as investors closely watch a possible trip to Taiwan by U.S. House of Representatives Speaker Nancy Pelosi later in the day which has angered China.The main benchmark share index (.TWII) fell more than 2%.Register now for FREE unlimited access to Reuters.comReporting by Sarah Wu; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",TSMC shares fell as much as 2.98% ahead of possible Pelosi visit to Taiwan.
"A man wearing a protective face mask, amid the coronavirus disease (COVID-19) pandemic, walks past a screen showing Shanghai Composite index, Nikkei index and Dow Jones Industrial Average outside a brokerage in Tokyo, Japan, February 14, 2022. REUTERS/Kim Kyung-HoonRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 2 (Reuters) - Asia stocks continued a decline from Wall Street on Tuesday, and U.S. long-term Treasury yields sank to a four-month low, pulling the U.S. dollar down against the yen and other currencies as investors worried about the risk of global recession.There were also jitters about an escalation in Sino-U.S. tension with U.S. House of Representatives Speaker Nancy Pelosi set to begin a visit to Taiwan against the objections of China, which regards the self-governed island as a breakaway province. read more Australian equities declined amid an uncertain outlook for commodity demand - which also weighed on crude oil prices - while the local dollar hovered near its highest versus its U.S. counterpart since mid-June with the central bank widely expected to deliver a third consecutive half-point interest rate hike later in the day.Register now for FREE unlimited access to Reuters.comThe Australian (.AXJO) and South Korean (.KS11) equity benchmarks suffered losses of about 0.3% each, while Japan's Nikkei (.N225) tumbled 1.17%.Chinese blue chips (.CSI300) dropped 1.06% and Hong Kong's Hang Seng (.HSI) lost 1.1%.Taiwan's stock index (.TWII) slid 1.68%.MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) retreated 0.8%.U.S. e-mini stock futures pointed to a 0.31% lower restart for the S&P 500 (.SPX), which stumbled 0.28% overnight.The week began with China, Europe and the United States reporting weakening factory activity, with that in the U.S. decelerating to its lowest level since August 2020. read more That sank crude, with Brent futures edging down to $99.74 on Tuesday after losing almost $4 overnight. U.S. West Texas Intermediate futures also eased to $93.67, extending Monday's almost $5 slide.""Data releases over the past 24 hours have provided further evidence the global economy is slowing,"" National Australia Bank strategist Rodrigo Catril wrote in a note to clients.""Signs of a slowdown are building"" in the United States, while ""China's reopening activity burst is over,"" he said.The benchmark 10-year U.S. Treasury yield fell as low as 2.53% in Tokyo trade, the lowest since April 5, amid wagers the slowdown could spur the U.S. Federal Reserve to ease its foot off the policy-tightening pedal. The bonds also benefited from safety-seeking demand before Pelosi's Taiwan visit, analysts said.That helped the U.S. dollar slide as low as 130.595 yen for the first time since June 6. The euro jumped as high as $1.0294, a level not seen since July 5.The Taiwan dollar slipped to its lowest level in more than two years on the weaker side of 30 per U.S. dollar.Meanwhile, the Aussie was more subdued, retreating 0.26% to $0.7009, but after hitting the highest since June 17 at $0.7048 in the previous session.Analysts polled by Reuters expect the Reserve Bank of Australia to hike by 50 basis points both on Tuesday and again at its next meeting in September as it races to rein in inflation. read more Market participants also see a half-point bump later as a certainty, and have priced an additional 37 basis points of tightening for the September decision.Register now for FREE unlimited access to Reuters.comReporting by Kevin BucklandOur Standards: The Thomson Reuters Trust Principles.",Asian stocks slide with oil on recession jitters; dollar drops.
"""When we started this 12 months ago, every conversation we had was, 'You're totally out of your mind, this is never going to work,'"" said teenage CEO Aadit Palicha. Yet, Palicha's company has managed to prove those doubters wrong — it's now nearing unicorn status and is one of India's fastest-growing quick commerce apps. A unicorn is a startup valued at more than $1 billion.Zepto is a startup that promises to deliver groceries in less than 10 minutes. Despite being just one of many businesses to join the instant commerce wave, it has already caught the eyes of investors. Its latest cash injection of $200 million in May 2022 valued the business at $900 million, just nine months after its launch. We figured that was just a more exciting opportunity than studying in an elite university.Aadit PalichaCo-founder and CEO, ZeptoDriving its meteoric growth are Palicha and Kaivalya Vohra, two 19-year-olds who dropped out of Stanford University to pursue their entrepreneurial dreams. ""At that point, we had already scaled to a couple million dollars of annualized revenue. We said here's an opportunity to raise a large amount of capital, it's got clear product market fit,"" Palicha told CNBC Make It. ""How many people in their lifetimes get an opportunity to build a potential generational company? We figured that was just a more exciting opportunity than studying in an elite university."" From 45 to 10 minutes The idea for Zepto came in July 2021 — when the childhood friends were stuck in their homes in Mumbai, right in the middle of the Covid-19 pandemic and a nationwide lockdown. At the time, demand for delivery services surged as many stayed home.""Online groceries [would] take six, seven days to deliver, offline options were practically shut down or unavailable. It was incredibly difficult for us to get groceries,"" said Palicha, who is Zepto's CEO. ""We had sort of similar conversations with our neighbors that complained about pretty much the same problem. That's when we said … why don't we try building a solution for the folks in our neighborhood?"" If you look at all the other major categories of e-commerce ... you take all of them and combine them, they're a fraction of the grocery market.Aadit PalichaCo-founder and CEO, ZeptoBut Palicha and Vohra were no strangers to the instant grocery delivery business. In 2020 — at just 17 years old — they started KiranaKart, which they said delivered groceries in Mumbai in under 45 minutes.""Some people were getting their deliveries [within] a 10-15 minute timeframe,"" Vohra said. ""In terms of their retention, how much they liked the platform and how frequently they were referring to their friends, [it] was significantly higher for those people who got the deliveries in that timeframe.""""Which is why we said, 'Look, maybe there's some value in exploring that.'"" Zepto isn't the only quick commerce startup in India, and competition is heating up both domestically and globally. The country's online grocery market is set to be worth around $24 billion dollars by 2025, according to Redseer.ZeptoThey weren't wrong. According to research from consulting firm Redseer, India's online grocery market could be worth up to $25 billion by 2025 and that is an opportunity that was ""too compelling to pass up,"" said Palicha.""If you look at all the other major categories of e-commerce — electronics, apparel, you take all of them and combine them, they're a fraction of the grocery market,"" he added. Building trust and reliability In order to fulfill grocery orders in under 10 minutes, the duo established a network of dark stores, or microdistribution hubs across cities. Dark stores are are closed to the public, housing goods meant solely for online ordering.""We design our network across the city, to make sure that our points of pickup are very close to population clusters in a specific neighborhood,"" Palicha said. In order to fulfill grocery orders in under 10 minutes, the duo established a network of dark stores, like the one above, across cities.Zepto""What ends up happening is that the average distances of our deliveries are so short, we're able to get deliveries done consistently in 10 minutes.""The startup added that the average distance for its deliveries ranges from 1.7 to 2 kilometers. Other forms of hyperlocal delivery, it said, could be ""2 to 2.5 times longer than that."" Today, Zepto says, it operates hundreds of dark stores across 10 cities in India, with tens of thousands of delivery drivers at work. Palicha added that it is currently delivering ""90 to 95%"" of its orders between five and 20 minutes. But speed is not Zepto's only secret to retaining customers and building loyalty. The startup, whose name comes from zeptosecond — the smallest unit of time — claimed it is adding 100,000 new users daily. ""To really retain customers for the long term, what do you really need to build is trust and reliability. Reliability comes in many ways,"" said Vohra, who is also the chief technology officer. ""Yes, we deliver on time, but also reliability in terms of — if I ordered 10 things, I get those 10 exact things. And if I order fruits and vegetables, [they're] the highest quality possible."" Keeping cash burn lowInvestors are excited about Zepto's popularity too.To date, the company had attracted $360 million dollars from investors, including Y Combinator, U.S. health-care consortium Kaiser Permanente and Nexus Venture Partners. Its latest funding round puts the company on course for a likely $1 billion valuation. Palicha said one the key drivers of Zepto's investment success is its ""operating discipline."" ""When we went to investors this time around, we showed very, very clear paths to profitability. We went from $0 in revenue roughly a year ago to today, we're doing hundreds of millions of dollars in annualized revenue,"" he added. ""We're still talking in terms of multiples and not percentages when it comes to our growth rate, and that's something that we're excited by.""Since day one, we've been … forcing ourselves to be efficient to make every dollar last. Aadit PalichaCo-founder and CEO, ZeptoZepto claims it has managed to reduce its cash burn rate by 5 times on a per-order basis, while achieving a quarter-on-quarter revenue growth of 800%. Even so, the days of easy money for cash-burning tech companies are gone, as interest rates rise and investors demand more results. Nonetheless, the young founders remain unfazed. ""We're in a position where you look at the size of our balance sheet, we effectively got capital to last us multiple years, in the context of this downturn,"" said Palicha. ""Since day one, we've been … forcing ourselves to be efficient to make every dollar last. We're able to do more orders with the same amount of cash, we're able to acquire more customers with the same amount of cash."" Zepto's founders may be young, but their conviction in their product is unwavering. ""Whether it was in front of an investor, a senior executive, any government stakeholder and regulator, you realize what you're building is on the right side of what customers want,"" said Aadit Palicha (right).ZeptoKeeping costs lower than its competitors in the high-growth tech category has given them an edge, said the duo. ""That just puts us in a position where we are able to continue growing sustainably, where other folks have been forced to … induce layoffs, essentially pull back growth plans and contract to survive in a market like this,"" Palicha added. Touching 'the billion mark'?Because of that difficult environment, Palicha and Vohra aren't resting on their laurels despite the fresh funding that Zepto has in the bag.""The key focus now is to just build the incremental scale we need to break even in key markets. Once we have a balance sheet that is now operating in breakeven, we can start expanding into new cities with a lot more confidence and clarity,"" said Palicha. It was previously reported that Zepto is making $200 million to $400 million dollars in annualized revenue and the founders are now hoping to ""touch the billion mark."" Palicha added: ""[Zepto] came out as a personal project between Kaivalya and [me] to see if we could solve a problem at a small scale in our neighborhood.""""It eventually evolved into the company that we are today, which we're incredibly grateful for."" Don't miss: Here’s how you can recession-proof your career, according to one CEOLike this story? Subscribe to CNBC Make It on YouTube!","They dropped out of Stanford to run a startup. Now, it's close to becoming India's next tech unicorn."
"FILE PHOTO: An office worker eats his lunch at a convenience store in Seoul, South Korea, June 24, 2022. REUTERS/ Heo RanRegister now for FREE unlimited access to Reuters.comSummaryJuly inflation near 24-yr high of 6.3%, same as forecastData supports view for further central bank tighteningCore inflation holds steady in tentative sign of reliefSEOUL, Aug 2 (Reuters) - South Korea's consumer inflation sped up to a nearly 24-year high in July, data showed on Tuesday, supporting the market's view for further central bank tightening this year.The consumer price index (CPI) stood 6.3% higher in July than a year earlier, accelerating from a 6.0% rise seen in June. The July inflation rate was the fastest pace since a 6.8% gain in November 1998.It matched the median forecast in a Reuters survey. read more Register now for FREE unlimited access to Reuters.comThe data supports expectations by economists that the central bank, which has raised the policy interest rate to 2.25% from 0.5% over the past year, will raise the rate yet further.""Today's data showed signs that inflation would begin slowing after the current quarter, but it will take longer for inflation expectations to ease due to lagging effects,"" said Oh Chang-sob, an economist at Hyundai Motor Securities.The index rose 0.5% in July on a monthly basis, just above a 0.4% rise tipped in the survey of economists but slowing from a 0.6% gain in June, the Statistics Korea data showed.Annual core inflation, which excludes volatile food and energy prices, ended a three-month run of successive acceleration to hold steady in July at the 3.9% rate seen in June. That was a tentative sign of future relief from high inflation.Tuesday's data will be the only monthly inflation figures released between the central bank's raising of interest rates in July and its next policy meeting, this month. The July rise, 50 basis points, was bigger than usual.The Bank of Korea, which began tightening policy late last year ahead of its peers, has said that the big-step rate hike on July 13 was unusual and that it would most likely be raising by the usual 25 basis points each time in the future. read more Register now for FREE unlimited access to Reuters.comReporting by Jihoon Lee and Choonsik Yoo; Editing by Tom Hogue and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",S.Korea July inflation near 24-yr high as more tightening looms.
"U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters after the weekly senate party caucus luncheons at the U.S. Capitol in Washington, U.S., June 14, 2022. REUTERS/Sarah Silbiger/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - U.S. Senate Democrats on Monday were awaiting a ruling from a chamber referee this week on whether they can override the legislature's normal rules to pass a $430 billion drugs, energy and tax bill despite Republican objections.The decision by the referee, officially known as the ""parliamentarian,"" will have a profound impact on President Joe Biden's domestic agenda heading into the Nov. 8 midterm elections, when Republicans are favored to win back control of the House of Representatives and perhaps the Senate amid voter discontent over inflation.Senate Majority Leader Chuck Schumer on Monday confirmed that he planned to begin debate this week.Register now for FREE unlimited access to Reuters.comUnder the ""reconciliation"" procedure Democrats are hoping to use to pass the bill, only a simple majority of votes in the 100-member chamber would be needed to steer the bill towards passage, instead of the 60 needed for most legislation.With the Senate split 50-50 among Democrats and Republicans, the process would allow for passage as Democratic Vice President Kamala Harris could break any tie vote and secure a victory for Biden.The bill being reviewed by the Senate parliamentarian was crafted by Democratic Senator Joe Manchin, who has often stood in the way of key Biden priorities, and with the blessing of Senate Majority Leader Chuck Schumer.Still unknown, however, is whether Democratic Senator Krysten Sinema, like Manchin a maverick in the caucus, will lend her support.A Sinema spokesperson said she was still reviewing the bill and would also wait to see which provisions, if any, the parliamentarian allows to stay in the bill.Without Sinema's vote the entire effort could be doomed, as no Republicans were expected to vote yes on what Democrats are calling the ""Inflation Reduction Act of 2022.""It would provide new federal funding for a significant reduction in U.S. carbon dioxide emissions that contribute to climate change and allow Medicare, the federal health insurance program for the elderly and disabled, to negotiate lower pharmaceutical prices. Tax increases aimed at the wealthy would partially offset the costs, with lower drug prices also saving the government money, the bill's backers say.But Republicans have been attacking the measure, arguing it will violate a Biden pledge to not raise taxes on those earning less than $400,000 annually. Senator Mike Crapo, top Republican on the Senate Finance Committee, criticized the bill as he released an analysis he requested from the Joint Committee on Taxation (JCT), a nonpartisan congressional panel.The JCT report said the bill's tax provisions would indirectly raise the effective tax burden on Americans with incomes of $200,000 or less, by $16.7 billion in 2023.The tax burden effect in the JCT analysis is due to small estimated reductions of incomes from potential wage cuts that could result from companies' higher tax bills, or lower stock values, said Kimberly Clausing, a tax law professor at the University of California-Los Angeles and a former U.S. Treasury tax official.The legislation would raise the tax burden by another $14.1 billion on taxpayers with annual incomes of between $200,000 and $500,000, according to the JCT analysis.Democrats on the finance committee, which oversees tax policy, say the analysis is ""incomplete.""""A family making less than $400,000 will not pay one penny in additional taxes,"" Ashley Schapitl, spokeswoman for the Senate Finance Committee Democrats, said in a statement. ""It doesn’t include the benefits to middle-class families of making health insurance premiums and prescription drugs more affordable. The same goes for clean energy incentives for families.""(The story is refiled to remove extraneous word in first sentence.)Register now for FREE unlimited access to Reuters.comReporting by Richard Cowan, David Morgan and David Lawder; Editing by Scott Malone and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.","U.S. Senate Democrats hope for green light on $430 bln climate, drug bill."
"A newspaper front page reporting about U.S. House of Representatives Speaker Nancy Pelosi is pictured in Taipei, Taiwan, August 2, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 2 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was expected to arrive in Taipei later on Tuesday, people briefed on the matter said, as the United States said it would not be intimidated by Chinese ""sabre rattling"" over the visit.One person familiar with Pelosi's itinerary said that most of her planned meetings, including with President Tsai Ing-wen, were scheduled for Wednesday, and that it was possible that her delegation would arrive in Taiwan early on Wednesday.""Everything is uncertain,"" the person said.Register now for FREE unlimited access to Reuters.comTaiwan newspaper Liberty Times said Pelosi's delegation was due to arrive at 10:20 p.m. (1420 GMT) on Tuesday, without naming sources.Pelosi was scheduled to visit Malaysia on Tuesday. She began her Asia tour in Singapore on Monday, and her office has said she will also visit South Korea and Japan. It has not mentioned a Taiwan visit.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which would not confirm the trip - said she had the right to go.China has repeatedly warned against a Pelosi visit.Beijing's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as China's assertion that the Taiwan Strait is not an international waterway, White House national security spokesperson John Kirby told reporters in Washington on Monday.""We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated,"" Kirby said.The Taiwan dollar slipped to its lowest levels in more than two years on the weaker side of 30 per U.S. dollar and investor worries about a potential Pelosi visit and China's reaction appeared to be behind Tuesday's declines in China's yuan and north Asian stock markets (.TWII).'GROSS INTERFERENCE'One source told Reuters that the United States had informed some allies about Pelosi's visit to Taiwan. Two other sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record during her stay in Taiwan, possibly on Wednesday.Chinese foreign ministry spokesperson Zhao Lijian said on Monday that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.""China views visits by U.S. officials to Taiwan, a self-ruled island claimed by Beijing, as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing.A video by the People's Liberation Army's Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to ""stand by in battle formation, be ready to fight upon command, bury all incoming enemies.""The White House has dismissed China's rhetoric as groundless and inappropriate.Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division of powers within the U.S. government meant Pelosi would make her own decisions about the visit.""The speaker has the right to visit Taiwan,"" he told the White House briefing.During a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now.""Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee;
Writing by Tony Munroe; Editing by Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.","Pelosi expected to arrive in Taiwan on Tuesday, sources say."
"Crime August 1, 2022 / 8:35 PM / CBS/AP ""48 Hours"" looks into mysterious hunting death ""48 Hours"" investigates the mysterious death of an Arizona woman during a hunting trip to Zambia 03:20 A wealthy dentist accused of fatally shooting his wife at the end of an African safari was found guilty of murder and mail fraud Monday. The verdict for Lawrence ""Larry"" Rudolph' came from a jury in a Denver federal court following a trial that lasted three weeks.Rudolph was charged with murder and mail fraud for cashing in $4.8 million in life insurance claims in what prosecutors describe as a premeditated crime.Rudolph maintained his innocence. His attorney suggested his wife of 34 years, Bianca Rudolph, shot herself while trying to pack a shotgun in a hurry as they prepared to return from Zambia to the United States in 2016. Larry Rudolph previously said he was in the bathroom, heard a gunshot, and found his wife bleeding, dead on the bedroom floor, ""48 Hours"" reported earlier this year.  But prosecutors countered that evidence showed that was impossible because the wound to her heart came from a shot fired from 2 to 3.5 feet away.As ""48 Hours"" previously reported, Larry had his wife's body quickly cremated in Zambia, which led a friend of Bianca's to doubt this was an accident. Soon after Bianca's death, the friend called the FBI. According to an FBI complaint cited by ""48 Hours,"" she also said Lawrence was having an affair and had been verbally abusive to Bianca. The friend also told the FBI that the couple fought over money. Bianca and Larry Rudolph Larry Rudolph/Facebook Prosecutors also accused Rudolph's girlfriend and manager of his Pittsburgh-area dental franchise, Lori Milliron, of lying to a federal grand jury about the case and her relationship with Rudolph. She was found guilty by the same jury of being an accessory after the fact to murder, obstruction of a grand jury and two counts of perjury before a grand jury. She was found not guilty on two other counts of perjury.Prosecutors alleged that Rudolph decided to kill his wife to regain control over his life after Bianca Rudolph asked for more say in the couple's finances and demanded that Milliron be fired. Rudolph's attorneys called that a false narrative. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Wealthy dentist Lawrence Rudolph found guilty in wife's death on 2016 African safari.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States killed al Qaeda leader Ayman al-Zawahiri in a strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said Zawahiri died after a U.S. drone strike in the Afghan capital Kabul at 6:18 a.m. (0148 GMT) on Sunday.Register now for FREE unlimited access to Reuters.com""Now justice has been delivered, and this terrorist leader is no more,"" Biden, who is recovering from COVID-19, said in remarks from the White House. ""No matter how long it takes, no matter where you hide, if you are a threat to our people, the United States will find you and take you out.""U.S. intelligence determined with ""high confidence"" through multiple intelligence streams that the man killed was Zawahiri, one senior administration official told reporters. He was killed on the balcony of a ""safe house"" in Kabul that he shared with other members of his family. No other casualties occurred.Biden said Zawahiri had been the mastermind behind or played a key role in attacks on the USS Cole and U.S. embassies in Kenya and Tanzania.""Zawahiri continued to pose an active threat to U.S. persons, interests and national security,"" the official said on a conference call. ""His death deals a significant blow to al Qaeda and will degrade the group's ability to operate.""There were rumors of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.His death raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The official said senior Taliban officials were aware of his presence in the city and said the United States expected the Taliban to abide by an agreement not to allow al Qaeda fighters to re-establish themselves in the country.The drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.In a statement, Taliban spokesman Zabihullah Mujahid confirmed that a strike took place and strongly condemned it, calling it a violation of ""international principles."" read more Zawahiri succeeded bin Laden as al Qaeda leader after years as its main organizer and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire spectacular attacks on the West. read more Osama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/File Photo Republican and Democratic lawmakers lauded the operation.“The world is safer without him in it and this strike demonstrates our ongoing commitment to hunt down all terrorists responsible for 9/11 and those who continue to pose a threat to U.S. interests,"" said Republican U.S. Senator Marco Rubio.Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumors that he had died.The senior U.S. official said finding Zawahiri was the result of persistent counterterrorism work. The United States identified this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said.""Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house,"" the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinize the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25 he received an updated report and authorized the strike once an opportunity was available, the administration official said.A loud explosion echoed through Kabul early Sunday morning.""A house was hit by a rocket in Sherpoor. There were no casualties as the house was empty,"" Abdul Nafi Takor, spokesman of the interior ministry, said earlier.One Taliban source, requesting anonymity, said there had been reports of at least one drone flying over Kabul that morning.With other senior al Qaeda members, Zawahiri is believed to have plotted the October 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin Laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan’s Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed, Patricia Zengerle and Matt Spetalnick in Washington and Mohammad Yunus Yawar in Kabul; Editing by Cynthia Osterman and Stephen CoatesOur Standards: The Thomson Reuters Trust Principles.",Biden: Al Qaeda leader Zawahiri killed in U.S. strike in Afghanistan.
"Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus MordantRegister now for FREE unlimited access to Reuters.comSummaryPrices fell to lowest in more than 2 weeks on MondayFactories squeezed by higher prices, weak customer demandU.S. targets Chinese, UAE firms in new Iran oil sanctionsAug 2 (Reuters) - Oil prices edged lower on Tuesday, extending losses from the previous session, as investors worried about global oil demand following weak manufacturing data in several countries.Brent crude futures fell 29 cents to $99.74 a barrel by 0002 GMT, with WTI crude futures down 22 cents at $93.67 a barrel.The slide came after Brent futures slumped on Monday to a session low of $99.09 a barrel, their lowest since July 15. The U.S. crude benchmark dropped to as low as $92.42 a barrel, its weakest since July 14.Register now for FREE unlimited access to Reuters.comPrices have been volatile, as investors weigh tight global supply with fears of a potential global recession.Recessionary concerns were heightened on Monday as surveys from the United States, Europe and Asia showed that factories struggled for momentum in July. Flagging global demand and China's strict COVID-19 restrictions slowed production. read more The price drops also come as market participants await the outcome of a meeting on Wednesday between the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, together known as OPEC+, to decide on September output.A Fox Business news reporter said Saudi Arabia will push OPEC+ to increase oil production at the meeting. read more Two of eight OPEC+ sources in a Reuters survey said that a modest increase for September would be discussed at the Aug. 3 meeting. The rest said output is likely to be held steady. read more Meanwhile the United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeks to raise pressure on Tehran to curb its nuclear programme. read more Register now for FREE unlimited access to Reuters.comReporting by Stephanie Kelly; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Oil prices slip as weak manufacturing data stokes recession fears.
"SummaryExtra cost and comforts were no help for doomed Mexican migrantsDozens suffocated during botched U.S. border crossingDespite dangers, billion-dollar smuggling business booms'The air will run out,' migrant's mother warned before disasterTLAPACOYAN, Mexico, Aug 1 (Reuters) - At first, Mexican migrants Pablo Ortega and Julio Lopez enjoyed the smuggling equivalent of a first-class ticket to the United States: complimentary beers, safe houses with video games, even a week at a hunting ranch.Both had borrowed thousands of dollars and paid extra to secure what smugglers promised would be a comfortable trip avoiding the worst dangers of illegal border crossings.On June 27, their special treatment ended: crammed and gasping for air in the back of a sweltering tractor-trailer in Texas with more than 60 other migrants.Register now for FREE unlimited access to Reuters.comNearly all, including Ortega and Lopez, died in the suffocating heat. It was the deadliest U.S. smuggling incident of recent times.Their journeys, reconstructed by Reuters via dozens of texts, photos and video messages with their families, provide a rare window into the world of human smuggling: a billion-dollar trade growing ever more deadly.As tighter controls drive migrants to greater risks, experts say smugglers are increasingly selling more expensive routes they advertise as ""secure,"" ""special"" or ""VIP."" Those options usually promise vehicle transportation rather than walking across the desert, as well as more comfortable stays.Ortega agreed to pay $13,000 and Lopez $12,000, their families said. That is far above the average $2,000-$7,000 for Mexican migrants, according to Mexican government data from 2019.Embarking separately on their quests for a better life, they were told they would travel alone or in small groups, their families said. At least one other victim, Jazmin Bueso, 37, from Honduras, also paid for the costlier trip, her brother told Reuters.Ortega, a jocular 19-year-old sporting baseball caps over his dark hair, left in mid-May by bus from his home in Tlapacoyan – a hilly town in the southeast state of Veracruz ringed by banana plantations.His girlfriend was newly pregnant, and Ortega was determined to make it to Florida, where his mother lived. There he could earn money to send home for the care of his soon-to-be first child and save to build a house.'GUARANTEED, 100% SAFE'Lopez set off on June 8 from Benito Juarez in the southern Mexican state of Chiapas. A sawmill worker, 32, slim with sincere dark eyes, Lopez hoped to send money home for the autism care of his youngest of three children. That son's name - Tadeo - was tattooed on his left arm.""You won't go through the desert ... there won't be any danger,"" Adriana Gonzalez recalled hearing the smuggler tell her husband over the phone before he left. ""The trip you have is guaranteed, 100% safe.""Violence, poverty and COVID-19 have accelerated migration from Latin America to the United States. Crossings from Mexico hit a record 1.7 million so far this fiscal year through June, while deaths were the worst ever recorded at 728 last year and look set to keep pace if not surpass that in 2022.Seeking to evade the ever-expanding U.S. border control infrastructure, smugglers are turning to riskier methods, including a boom in the use of 18-wheel big rigs. read more Vehicle and transport-related border deaths grew more quickly than any other cause, between 2020 and 2021, according to U.N. data.To pay the smuggling fee, Ortega's mother, Rafaela Alvarez, 37, sold a mobile home. But when he reached the border, the minders said they wanted another $2,000 to take him on a safer route avoiding the desert, crossing the Rio Grande river and riding in a truck sleeping compartment with three others to Houston.Alvarez pawned gold jewelry to come up with the extra money. She remembers specifically warning her son not to get into a crowded trailer.""The air will run out,"" she told him in a video call from the construction site where she worked and hoped he would too.Over the next two weeks, Ortega sent photos and videos from a spacious, well-decorated home where he played video games and smugglers treated him to pizza and Tecate beer while they waited for border patrol presence to decrease.Ortega finally crossed the Rio Grande on May 29, but a U.S. agent caught him past the riverbank and sent him back to Mexico.Lopez did not make it across the first time either.After flying into the northern Mexican city of Monterrey, smugglers drove him to the border town of Matamoros.For four days, Lopez stayed in a small, hot concrete house with two other migrants. Then smugglers guided Lopez across the Rio Grande in a boat and into a car, just as he had been promised. But the next day, border officers stopped the car and returned Lopez to Mexico.Rosa Esmeralda shows a message from her late brother Pablo Ortega Alvarez where he tells her that there will be a trailer waiting for him and another migrants after crossing the Rio Grande river before dying of suffocation while being smuggled in a trailer in San Antonio, Texas, U.S., at the family's house, in the town of Tlapacoyan, in Veracruz state, Mexico July 13, 2022. REUTERS/Miguel Angel Gonzalez On or around June 14 – his family is not quite sure - Lopez crossed again, this time successfully. In Texas, he walked three hours through desert to a private hunting lodge near Laredo where he stayed about a week. A video Lopez sent to his wife shows a large wooden house, decorated with an American flag and the skulls of wild deer. ""It's super cool,"" Lopez says in the video.During this time, Ortega had been trying to cross. But the river's high waters made it difficult. At one point, he saw a migrant drown in the strong current.On June 17, he donned a red life-vest, flashed a thumbs up in a selfie and climbed into a small inflatable boat for what would, finally, be a successful trip.A day later he celebrated his 20th birthday with a mayonnaise sandwich in a Texas safe house. Though now on American soil, Ortega's journey wasn't over: the Border Patrol maintains checkpoints as far as 100 miles inside.""There's only a little left (to go),"" he wrote to his sister. Two days later she sent Ortega ultrasound images of his baby.On June 21, Lopez made a final call to alert his family that the smugglers would soon confiscate his phone. They were about to take him to another ranch where he would wait a couple of days before being smuggled past an interior checkpoint on the way to San Antonio, Lopez told Gonzalez.""Tell my children that I love them and if I am able to get through, everything will be different,"" Gonzalez remembered Lopez saying.The next day, Ortega, still in his Texas safe house, told his mom he was starting to worry about the number of migrants arriving. ""We're already a ton of people,"" he wrote.Then communication ceased.ABANDONED TRAILERAt 2:50 p.m. on June 27, an 18-wheeler cargo truck with a red 1995 Volvo cab rolled through a U.S. government checkpoint near Encinal, Texas, 40 miles north of Laredo.A surveillance photograph obtained by Mexican authorities and published in a briefing report captures the driver, clad in a black striped shirt, leaning out of the window with a wide grin.Just before 6 p.m., a worker in an industrial area in the outskirts of San Antonio, more than 100 miles further north, heard a cry for help, which he followed to a trailer abandoned beside a road, according to local officials.First responders arrived minutes later. The trailer's partially opened doors revealed stacks of bodies hot to the touch, officials said. Other bodies were found splayed across the ground and in nearby brush, court documents show.Temperatures in San Antonio had swelled to 103 degrees Fahrenheit (39.4 degrees Celsius) that afternoon, but responders found no water or air conditioning inside the trailer.The death count eventually rose to 53, including 26 Mexicans, 21 Guatemalans and six Hondurans. Police found the suspected driver hiding near the victims, allegedly under the influence of methamphetamine. read more A U.S. grand jury indicted four men on charges related to the incident, ranging from illegal firearm possessions to smuggling accusations that could be punishable by life in prison or the death sentence. read more By nightfall, the horrific news had spread throughout Mexico and Central America.For over a week, Lopez's smugglers fed his family's hopes he was still alive until Gonzalez identified her husband's body through photographs on July 5.Since his death, Gonzalez said she is unable to afford care for their autistic son.Alvarez, fearing the worst, called Ortega's smugglers more than 30 times to try and confirm her son was alive. They blocked her number.When Alvarez traveled to San Antonio to identify Ortega's body, it was the first time seeing her son since 2014.At the funeral in his hometown, a ballad played remembering migrants who suffocated in a Texas boxcar 35 years ago. Ortega's family tossed red roses on the grave as the lyrics echoed: ""The air began to run out, and there was nothing they could do. No one heard those cries for help.""His baby is due on Dec. 31.Register now for FREE unlimited access to Reuters.comReporting by Daina Solomon in Tlapacoyan, Jackie Botts in Oaxaca City and Laura Gottesdiener in Monterrey;
Additional reporting by Dave Graham in Mexico City, Gustavo Palencia in Tegucigalpa, Ted Hesson in Washington, Miguel Angel Gonzalez in Tlapacoyan, Jose Torres in Chiapas, Adrees Latif in Roma, Texas, Jason Buch in San Antonio;
Editing by Stephen Eisenhammer and Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",'VIP trips' cost migrants their lives in Texas smuggling tragedy.
"World Updated on: August 1, 2022 / 9:37 PM / CBS News President Biden on Monday announced that the U.S. killed al Qaeda leader Ayman al-Zawahiri in a drone strike in Afghanistan. The terrorist leader was 71.Though not as well known as Osama bin Laden, Al-Zawahiri was believed to be the true architect behind the worst terrorist attacks in U.S. history on Sept. 11, 2001. For years, he was known as al Qaeda's No. 2 man, when analysts say he was really the brains behind the operation. Mr. Biden said Monday his hope was that the action taken against al-Zawahiri ""will bring one more measure of closure"" to those who lost loved ones on 9/11. With al-Zawahiri's death, all of top plotters of the Sept. 11, 2001, terrorist attacks are now either dead or captured. Al-Zawahiri has long been a wanted man. After the 9/11 attacks, then-President George W. Bush released a list of the FBI's 22 most wanted terrorists — al-Zawahiri was near the top of the list, along with bin Laden. Bin Laden was killed by U.S. special forces in 2011, but al-Zawahiri would elude attempts on his life and an international manhunt for over another decade.  Al Qaeda leader Osama bin Laden, left, sits with his adviser Ayman al-Zawahiri, during an interview with a Pakistani journalist at an undisclosed location in Afghanistan for an article published Nov. 10, 2001. Getty Images Al-Zawahiri was born into a prominent Egyptian family, attending Cairo's best schools and becoming a practicing physician. He became active in Islamic fundamentalism in his teens, joining the Islamic Jihad. When the group assassinated Egyptian President Anwar Sadat in 1981, al-Zawahiri was one of hundreds arrested and put on trial. He was kicked out of Egypt in 1984, after serving his sentence, and migrated to Afghanistan. There, he met bin Laden, and they formed a bond, merging al-Zawahiri's ties to Islamic Jihad and bin Laden's al Qaeda. Together, they shared a motive — to kill Americans, military and civilian alike. Following other attacks, their plotting culminated in Sept. 11, 2001. While al Qaeda's relevance and influence has declined, it continues to be a violent presence in the Middle East and Africa.Exposing al Qaeda's Secrets: Inside the documents obtained from Osama bin Laden's compoundThe successful strike against al-Zawahiri comes roughly one year after U.S. troops withdrew from Afghanistan, ending the military presence that began two decades earlier in the wake of 9/11. The decision to withdraw was controversial, and the chaotic process was marked by the deaths of some U.S. troops and many more Afghans as the Taliban took control. — Charlie D'Agata contributed to this report. In: Al Qaeda Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Ayman al-Zawahiri, al Qaeda leader killed in U.S. strike, was seen as brains of bin Laden's terror group."
"A member of a search and rescue team walks along an area destroyed by the McKinney Fire near Yreka, California, U.S., August 1, 2022. REUTERS/Carlos BarriaRegister now for FREE unlimited access to Reuters.comYREKA, Calif., Aug 1 (Reuters) - Two bodies were found inside a burned-out car in the path of a huge northern California forest fire raging near the Oregon border, authorities said on Monday, as crews battling the blaze for a fourth day took advantage of rainfall in the area.Since erupting on Friday, the fast-moving McKinney Fire has forced some 2,000 residents to flee while destroying homes and critical infrastructure, mostly in Siskiyou County, home to the Klamath National Forest, according to a statement from Governor Gavin Newsom on Sunday.Authorities have yet to quantify the extent of property losses, but the California Department of Forestry and Fire Protection, or Cal Fire, said in an update posted on Monday that more than 4,900 homes were threatened by flames.Register now for FREE unlimited access to Reuters.comAlready the largest blaze in California this year, the fire has charred 55,493 acres (22,457 hectares) of drought-stressed timber and remained at 0% containment, Cal Fire reported.Two smaller wildfires in the same county that scorched just over 2,700 acres combined as of Monday and had chased at least 200 residents from their homes, Cal Fire said.The two bodies from the McKinney fire were found on Sunday in a car parked in a residential driveway west of the community of Klamath River, the Siskiyou County Sheriff's Office said in a statement on Monday. The agency said it would have no further information until the next of kin were notified.Forensic investigators dressed in white protective suits sifted through debris from the vehicle and collected remains for identification. A sheriff's spokesperson on the scene said skid marks were found on the driveway.""It appears that they were trying to flee the fire and likely couldn't see to get out,"" the spokesperson said, adding that the vehicle appeared to have rammed into the driveway gate and ""fell off the embankment.""Elsewhere along a highway running through the fire zone, an Oregon-based volunteer search-and-rescue team with cadaver dogs combed the grounds of other incinerated properties for signs of possible additional victims.EXTREME DROUGHT, HEATThe cause of the blaze was under investigation. But the fire erupted amid record-breaking heat in a region where desiccated trees and undergrowth already had created a highly combustible fuel bed.Prolonged drought and unusually warm weather have stoked increasingly frequent and extreme wildfire behavior in California and elsewhere across the Western United States in recent years, a pattern scientists say is symptomatic of human-induced climate change.Firefighting crews took advantage of a low-pressure weather system that brought rain to much of the fire zone on Sunday evening and continued to douse the region on Monday, helping to tamp down the blaze, U.S. Forest Service officials said.But the same weather system also carried the potential for thunderstorms, and with it erratic winds and lightning strikes that could ignite new blazes.""The one thing we've learned about thunderstorms is we can't predict what's going to happen,"" Forest Service spokesperson Adrienne Freeman said.In the meantime, crews focused much of their work carving fire containment lines along the Klamath River corridor to create a protective buffer near the towns of Yreka and Fort Jones, Freeman said.A layer of heavy smoke trapped close to the ground by low pressure, a phenomenon called an ""inversion layer,"" also stunted fire growth since Sunday evening, though reduced visibility curbed firefighting aircraft operations, according to the Forest Service.Newsom on Sunday declared a state of emergency for Siskiyou County, a sparsely populated area larger than the state of Connecticut, hastening availability of government disaster response and relief.Among the fire evacuees was Harlene Althea Schwander, 81, an artist who moved to the area only a month ago to be near her son and daughter-in-law.""I'm very sad. My house is gone, all my furniture, all clothes, shoes, coats, boots. Everything is gone,"" Schwander told Reuters on Sunday outside an American Red Cross evacuation shelter.The McKinney blaze marked the second major wildfire in California this season. The Oak Fire near Yosemite National Park was 72% contained after blackening more than 19,244 acres, Cal Fire said on its website. read more Register now for FREE unlimited access to Reuters.comReporting by Nathan Frandino in Yreka, California; Additional reporting and writing by Steve Gorman in Los Angeles; Editing by Frank McGurty, Nick Zieminski and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.","California forest fire kills 2, rainfall helps fight flames."
"The Suncor Energy refinery in Denver June 12, 2006. The refinery converts crude oil to many products including gasoline. REUTERS/Rick Wilking/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Portfolio managers were heavy buyers of U.S. distillates last week, reflecting the continued shortage of diesel and heating oil despite signs of an economic slowdown.Hedge funds and other money managers purchased the equivalent of 4 million barrels in the six most important petroleum futures and options contracts in the week to July 26Purchases of Brent (+12 million barrels) and U.S. gasoline (+1 million) were offset by sales of NYMEX and ICE WTI (-17 million) and European gas oil (-1 million).Register now for FREE unlimited access to Reuters.comBut the most significant change was buying of U.S. diesel (+9 million barrels), which funds purchased at the fastest rate since November 2020 (https://tmsnrt.rs/3JiCMk0).It coincided with ongoing shortages of the fuel used by freight firms, manufacturers, farmers, miners and oil and gas companies themselves.Distillate fuel oil inventories are rebuilding slowly despite the ramp up in crude processing activity during peak summer gasoline demand season.Overall, distillate inventories have fallen since late June especially on the East Coast, which includes the delivery point for the NYMEX diesel contract in New York Harbor.Related columns:- Low U.S. oil inventories imply deeper economic slowdown will be needed (Reuters, July 28) read more - Bargain-hunting hedge funds boost oil positions (Reuters, July 25) read more - Oil positions steady after heavy hedge fund selling ends (Reuters, July 18) read more - Oil dumped by hedge funds on heightened recession risk (Reuters, July 11) read more John Kemp is a Reuters market analyst. The views expressed are his ownRegister now for FREE unlimited access to Reuters.comEditing by David Goodman and Barbara LewisOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Column: Hedge funds bullish on U.S. diesel as inventories dwindle: Kemp.
"A sinkhole is exposed at a mining zone close to Tierra Amarilla town, in Copiapo, Chile, August 1, 2022. REUTERS/Johan Godoy Register now for FREE unlimited access to Reuters.comSANTIAGO, Aug 1 (Reuters) - Chilean authorities started investigating on Monday a mysterious sinkhole about 25 meters (82 feet) in diameter that appeared over the weekend in a mining area in the north of the country.Chilean media showed aerial images of the sinkhole on land operated by a Canadian Lundin Mining (LUN.TO) copper mine, about 665 kilometers (413 miles) north of capital Santiago.The National Service of Geology and Mining (Sernageomin) became aware of the sinkhole on Saturday and has sent specialist personnel to the area, the agency's director David Montenegro said in a statement.Register now for FREE unlimited access to Reuters.com""There is a considerable distance, approximately 200 meters (656 feet), to the bottom,"" Montenegro said. ""We haven't detected any material down there, but we have seen the presence of a lot of water.""Sernageomin reported the closure of areas from the entrance to the work site of the Alcaparrosa mine, located near the sinkhole.In a statement released on Monday afternoon, Lundin Mining said the sinkhole did not affect any workers or community members.""The closest home is more than 600 meters (1,969 feet) away while any populated area or public service are almost a kilometer away from the affected zone,"" the statement read.Lundin Mining owns 80% of the property and the rest is held by Japan's Sumitomo Corporation.Register now for FREE unlimited access to Reuters.comReport by Fabián Andrés Cambero; Writing by Alexander Villegas; editing by Grant McCool, Sandra Maler and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.",Chilean authorities investigate mysterious large sinkhole near copper mine.
"World August 1, 2022 / 7:17 PM / CBS News United Nations – Secretary of State Antony Blinken spoke at the United Nations Monday about what he called ""a critical moment"" in efforts to keep the world safe from nuclear threats.At the opening of the 10th annual Nuclear Non-Proliferation Treaty (NPT) conference at the U.N., Blinken pointed to North Korea's ""unlawful nuclear program"" and ""ongoing provocations,"" Iran's ""path of nuclear escalation,"" and Russia's aggression in Ukraine, which has included seizing control of Europe's largest nuclear power plant.""We're deeply concerned about the fact that Russia has taken over nuclear facilities in Ukraine, particularly in Zaporizhzhia, one of the largest nuclear facilities in Europe,"" Blinken said.  ""There are credible reports, including in the media today, that Russia is using this plant as the equivalent of a human shield, but a nuclear shield in the sense that it's firing on Ukrainians from around the plant and of course, the Ukrainians cannot and will not fire back lest there be a terrible accident involving a nuclear plant,"" Blinken added, saying that it ""is the height of irresponsibility."" File photo of the Zaporizhzhia Nuclear Power Plant in southeastern Ukraine, on July 9, 2019. Dmytro Smolyenko/Future Publishing via Getty Images International Atomic Energy Agency (IAEA) chief Rafael Grossi and U.N. Secretary General Antonio Guterres are also at United Nations headquarters in New York for the opening days of the nuclear review conference, which had been postponed since 2020, at a time when nuclear weapons threats and nuclear safety are of rising concern among world leaders. ""Today, humanity is just one misunderstanding, one miscalculation away from nuclear annihilation,"" the U.N. secretary general said.Grossi, the international watchdog chief, pointed to the war in Ukraine as ""so grave that the specter of a potential nuclear confrontation, or accident, has raised its terrifying head again.""Grossi cautioned more specifically about Ukraine's Zaporizhzhia nuclear plant, saying ""the situation is becoming more perilous by the day."" ""It is urgent,"" he said last week, since the agency has not been able to visit the site since before the conflict began five months ago. On Monday, Grossi was clear about the dangers: ""While this war rages on, inaction is unconscionable."" ""If an accident occurs at Zaporizhzhia Nuclear Power Plant, we will not have a natural disaster to blame — we will have only ourselves to answer to,"" Grossi said, adding, ""We need everyone's support.""Blinken told CBS News at a press encounter that ""Ukraine had the confidence to give up the (nuclear) weapons that it inherited when the Soviet Union dissolved because of commitments that Russia made to respect and protect its sovereignty, its independence, its structural integrity.""  U.S. Secretary of State Antony Blinken speaks to the media after attending the 10th annual review of the Nuclear Non-Proliferation Treaty at U.N. headquarters on August 1, 2022 in New York City. Getty Images ""The fact that Russia has now done exactly the opposite, that it's attacked Ukraine, unprovoked in an effort to erase that sovereignty and independence that sends a terrible message to countries around the world that are making decisions about whether or not to pursue nuclear weapons,"" Blinken said.He was referring to the 1994 Budapest Memorandum, an agreement in which the United States, Russia and Britain committed ""to respect the independence and sovereignty and the existing borders of Ukraine"" following the collapse of the Soviet Union, and ""to refrain from the threat or use of force"" against it — assurances that convinced Ukraine to give up ""what amounted to the world's third largest nuclear arsenal, consisting of some 1,900 strategic nuclear warheads,"" according to a Brookings analysis. The Nuclear Nonproliferation Treaty, established in 1968 to prevent the spread of weapons technology, sought to keep the number of nuclear states to a minimum — but keeping the nuclear genie in the bottle has been an uphill battle. Nuclear-armed states at the time were Britain, China, France and Russia (the Soviet Union at the time), and the number of nuclear weapons they hold has decreased since the peak of the Cold War. But in the years since, India, Pakistan and North Korea have developed nuclear weapons and Israel is believed to have a nuclear arsenal, though it has neither confirmed nor denied the existence of a program. Iran is moving forward with its nuclear program since the U.S. withdrew from the 2015 nuclear pact, but it has not yet produced a weapon. Iran's atomic energy chief said this week that Iran has the ability to build a nuclear weapon but has no plan to do so.The U.N. conference will continue throughout August and the nuclear activities of North Korea and Iran are sure to be discussed daily.  North Korea ""continues to expand its unlawful nuclear program and continues its ongoing provocations against the region,"" Blinken said. ""As we gather today, Pyongyang is preparing to conduct its seventh nuclear test.""The secretary general's assessment of nuclear threats was chilling: ""The risks of proliferation are growing and guardrails to prevent escalation are weakening.""Guterres heads to Hiroshima at the end of the week, marking the anniversary of the U.S. nuclear bombing in World War II - an event that is not lost on the speakers at the event. Japan's Prime Minister Fumio Kishida said that Russia's indirect warning that it could use nuclear weapons in the Ukraine war has added ""to worldwide concern that yet another catastrophe by nuclear weapon use is a real possibility.""Blinken also made a point of responding to the threats China has made about the possibility of House Speaker Nancy Pelosi visiting Taiwan, a self-governing island that China is determined to reunite with the mainland.Blinken said: ""The speaker will make her own decisions about whether or not to visit Taiwan. Congress is an independent co-equal branch of government — the decision is entirely the speaker's.""""If the speaker does decide to visit, and China tries to create some kind of crisis, or otherwise escalate tensions, that would be entirely on Beijing,"" Blinken said. ""We are looking for them, in the event she decides to visit, to act responsibly and not to engage in any escalation going forward.""On Monday China's U.N. Ambassador Zhang Jun said that China will defend its security and sovereignty if Pelosi visits Taiwan. He called the potential visit ""provocative and serious.""  In: nuclear weapons Ukraine Russia United Nations Pamela Falk Pamela Falk is the CBS News correspondent covering the United Nations, and an international lawyer. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Blinken says Russia is using Ukraine nuclear plant as ""equivalent of a human shield""."
"U.S. President Joe Biden delivers remarks at the White House in Washington, U.S., July 28, 2022. REUTERS/Elizabeth Frantz/File PhotoRegister now for FREE unlimited access to Reuters.comMOSCOW, Aug 1 (Reuters) - Russia's former president dismissed a call by U.S. President Joe Biden on Monday to press on with talks on a new nuclear arms treaty, saying the appeal was out of place in a changed world.Dmitry Medvedev, now deputy head of Russia's Security Council, said he had told Washington repeatedly that major issues, like a framework to replace the New START treaty, could not be done without Russian involvement.Medvedev, writing on his Telegram channel, said Biden had ""reluctantly spat out"" the call for new talks, referring to Soviet-U.S. arms agreements concluded despite difficulties in the Cold War era.Register now for FREE unlimited access to Reuters.com""All this, of course, is good. But let me say it once again - the situation now is much worse than in the Cold War,"" wrote Medvedev, who served as president for four years while Vladimir Putin was prime minister.""A lot worse! And through no fault of our own. The main thing is. ... do we really need this? The world is a different place.""A Russian foreign ministry source had earlier expressed puzzlement about Biden's proposal to negotiate the New START Treaty when it expires in 2026.Biden said in a statement on Monday that his administration was ready to ""expeditiously"" negotiate a new framework but that Russia should demonstrate that it is ready to resume work on nuclear arms control with the United States.""Is this a serious statement or has the White House website been hacked?"" a Russian foreign ministry source told Reuters. ""If this is still a serious intention, with whom exactly do they intend to discuss it?""The New START Treaty, struck in 2011, obliged the United States and Russia to limit deployed intercontinental ballistic missiles, deployed submarine-launched ballistic missiles and deployed heavy bombers equipped for nuclear armaments.It also put limits on nuclear warheads on those deployed missiles and bombers and the launchers for those missiles. Both sides reached the central limits of the treaty by Feb. 5, 2018, and the treaty has been extended to the end of Feb. 4, 2026.Register now for FREE unlimited access to Reuters.comEditing by Guy Faulconbridge, Ron Popeski and Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Russia's Medvedev dismisses Biden's arms pact call.
"An American flag waves outside the U.S. Department of Justice Building in Washington, U.S., December 15, 2020. REUTERS/Al DragoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - A man who posed as a federal law enforcement agent and lavished gifts on members of the U.S. Secret Service pleaded guilty on Monday to conspiracy and other charges, and agreed to cooperate with the Justice Department's ongoing investigation.Arian ""Ari"" Taherzadeh, 40, pleaded guilty to conspiracy, as well as unlawful possession of a large-capacity ammunition feeding device and voyeurism.As part of his plea, he conceded that he, his co-defendant Haider Ali, and an unnamed other subject conspired to recruit people to participate in a phony Department of Homeland Security task force.Register now for FREE unlimited access to Reuters.comThey also defrauded local apartment complexes by pretending to be law enforcement and used a fraudulent affiliation with DHS to ""ingratiate themselves with members of federal lawenforcement,"" court records say.Taherzadeh and Ali were arrested on April 6, prompting the Secret Service to place four agents on leave pending an investigation because they had accepted gifts. One of the agents who was placed on leave was assigned to protect first lady Jill Biden.The types of gifts they offered the agents ranged from rent-free apartments in a Washington luxury complex, to drones, iPhones and firearms.In court filings, the government said they doled out gifts worth over $90,000.When the FBI raided properties associated with the men, it recovered so many weapons, surveillance equipment, hard drives and other evidence that it needed a moving truck to haul it all away.Before Taherzadeh began impersonating a federal law enforcement agent, he told people he was a wealthy owner of an internet hosting company.Court records show he racked up more than $1 million in debt for unpaid rent from apartment complexes, luxury cars, VIP box seats at Capital One Arena, and a sponsorship deal with the company that owns several of Washington's professional sports teams.His next court date will be Nov. 2. A sentencing date has not been set.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch in Washington
Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.",Man who posed as DHS agent pleads guilty and vows to cooperate in ongoing probe.
"U.S. August 1, 2022 / 5:32 PM / CBS/AP Winning Mega Millions ticket sold in Illinois Winning ticket of Mega Millions jackpot sold in Illinois 00:23 The winner of the $1.337 billion Mega Millions jackpot may never be revealed to the public, but whoever has the ticket for the second-largest prize in the game's history is coming into a life-changing amount of money. Many winners have seen their luck run out, suffering personal setbacks, dealing with lawsuits or becoming the victims of scams. Dave and Erica Harrig stayed true to their values when they won a lottery jackpot of more than $61 million in 2013. It made all the difference. The couple from Gretna, Nebraska, a community on the outskirts of Omaha where Dave Harrig now is a volunteer firefighter, allowed themselves to buy a new home, some vintage automobiles and a few ocean cruises after they both quit their jobs. But nine years later, they still live much as they always did, remaining in their community, keeping up with church, family and friends, and teaching their children to work hard to make a living despite any financial windfall that might come their way. The latest winner of a big jackpot — with a cash option of $780.5 million — came Friday, when a single Mega Millions ticket sold in Illinois matched the winning numbers 13, 36, 45, 57, 67 and the Mega Ball 14. Illinois is among the states where winners of more than $250,000 can choose to not reveal their names. Dave Harrig, an Air Force veteran who worked in aircraft maintenance, said keeping things simple probably saved him and his family from the kind of hassles and tragedies that have befallen other big winners. Luck gone bad: Lottery winners who lost it all 15 photos Almost overnight, the Harrig family mailbox was filled with letters full of hard luck stories: sick children, lost jobs, burned out homes. Dave Harrig said they ignored them all and focused on their own family and charities. They didn't even touch the principal on their winnings until just a few years ago, when they tapped into it to fund a new museum of firefighting in Gretna that will open soon. ""We have nicer things, a bigger house, and more than we ever had in the past. But we are the same, and my wife and I keep each other in check,"" Dave Harrig said, encouraging future lottery winners to invest wisely, choose a national investment adviser rather than a local one, and to avoid advisers who try to sell financial products.They've ignored false rumors that have swirled about them, such as suggestions that Erica Harrig at one point ran off with a doctor and that Dave Harrig had a lawyer girlfriend. Their four children have also endured teasing at school. ""We're still learning, but it has helped to stay working together as a team,"" he said of himself and his wife. He acknowledged the struggles of some past winners, saying the experience of winning a jackpot ""can really accentuate your character and any addictions.""The late Andrew Whittaker Jr., of West Virginia, dealt with lawsuits and personal issues after he claimed a record $315 million Powerball jackpot on Christmas night in 2002.At the time, it was the largest U.S. lottery jackpot won by a single ticket. People harassed him with so many requests for money that he was quoted several times saying he wished he had torn up the ticket.Before dying of natural causes in 2020 at age 72, he struggled with alcohol and gambling problems and had a series of personal tragedies, including the death of his granddaughter. Winning the lottery brought other kinds of headaches for Manuel Franco, of West Allis, Wisconsin, who claimed a $768 million lottery jackpot in April 2019. Then just 24, Franco excitedly held a news conference to discuss his win, but later reportedly went into hiding amid harassment from strangers and the news media.The Better Business Bureau of Wisconsin began warning people in 2021 about messages from scammers who claimed to be the multimillion-dollar winner. Using Franco's name, the scammers sent text messages, social media messages, phone calls and emails phishing for personal information, telling recipients they had been chosen to receive money. The BBB said scammers got more than $13,000 from people they tricked, including people in Alabama and Colorado. Despite the problems encountered by the winners, lottery officials favor publicly identifying winners to instill public trust in the games. That's in large part because some past drawings have been rigged. Former Multi-State Lottery Association information security director Eddie Tipton pleaded guilty in 2017 to manipulating software so he could predict winning numbers on certain days of the year. He and his brother rigged jackpots in numerous states for a combined payout of some $24 million. In: Mega Millions Nebraska Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",What should the Mega Millions winner do with $1.337 billion? A couple who won millions may serve as an example.
"A model of 3D printed oil barrels is seen in front of displayed stock graph going down in this illustration taken, December 1, 2021. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Saudi Arabia will push OPEC+ to increase oil production at an upcoming meeting on Wednesday, a Fox Business news reporter said on Monday.Saudi King Salman bin Abdulaziz assured U.S. President Joe Biden on the production increase when they met on July 16, the reporter said in a tweet.The White House has said it anticipates major oil producers in the OPEC+ alliance will increase crude production following President Joe Biden's trip to the Middle East last month. read more Saudi Arabia's Foreign Minister Prince Faisal bin Farhan Al Saud said a U.S.-Arab summit on Saturday did not discuss oil and that OPEC+ would continue to assess market conditions and do what is necessary. read more OPEC+, which also includes Russia, is set to meet on Aug. 3.Register now for FREE unlimited access to Reuters.comReporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.",Saudi to push OPEC+ to increase oil production at upcoming meeting -Fox Business reporter.
"MoneyWatch August 1, 2022 / 3:22 PM / MoneyWatch Voyager Digital suspends crypto trading Voyager Digital suspends crypto trading activity 04:54 Eleven people who ran and promoted cryptocurrency firm Forsage are facing charges of operating a pyramid and Ponzi scheme that raised more than $300 million from millions of investors in the U.S. and elsewhere, according to the Securities and Exchange Commission. The Forsage executives posted videos that promised huge returns for investors, with one calling it ""a powerful long-term source of passive income"" and telling viewers, ""Forsage means fast and furious."" But securities regulators allege the service's founders weren't providing an investment strategy, but rather running a pyramid scheme, where investors made money by recruiting others. Also, earlier investors were paid through the money invested by newer customers, the hallmark of a classic Ponzi structure.  ""Aggressively marketed to investors""The charges underscore the financial risks of a sector that has drawn a fair share of fraudsters and scammers, aside from the massive price plunges that cryptocurrencies have experienced this year. In the case of Forsage, the service was created in 2020 and targeted retail investors who wanted to enter into crypto transactions via so-called ""smart contracts"" that operated on the ethereum, tron and binance blockchains. In addition to the four founders, the SEC also charged three U.S.-based promoters hired by Forsage to tout the service as well as several members of the Crypto Crusaders, a promotional group for the service, the SEC said.  ""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" said Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit, in a statement.The four founders are: Vladimir Okhotnikov, Jane Doe (known by her pseudonym Lola Ferrari), Mikhail Sergeev and Sergey Maslakov. Also charged were several Americans who were hired by Forsage to tout the service, such as one promoter who claimed she had invested $1,600 and earned more than $1 million in seven months, the complaint alleges. The four founders were last known to be living in Russia, the Republic of Georgia and Indonesia, the SEC said.  Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Forsage crypto executives charged with running $300 million Ponzi scheme.
"Screens display the company logo for Pinterest Inc. during the company's IPO on the front of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Activist investor Elliott Investment Management disclosed on Monday it had become the largest shareholder in Pinterest Inc (PINS.N), backing the management of the digital pin-board firm and sending the company's shares up 21%.Pinterest has ""significant potential for growth"", which led Elliott to become its largest shareholder, Elliott managing partner Jesse Cohn and senior portfolio manager Marc Steinberg said in a statement.Elliott did not disclose its stake in Pinterest. However, the Wall Street Journal reported in July that the investment firm had amassed a more than 9% stake. (https://reut.rs/3zp1smr)Register now for FREE unlimited access to Reuters.comThe firm on Monday backed Pinterest Chief Executive Bill Ready, who took over on June 29, and also commended co-founder Ben Silbermann for the leadership transition.Elliott and the Pinterest management had ""a very collaborative and engaged dialogue"" recently, Ready said on a post-earnings conference call.""As a visual search engine, Pinterest offers a distinct way for businesses to market. I think Elliott may be on to something here,"" said Michael Schulman, chief investment officer at Running Point Capital.Elliott has also been building up stake in PayPal Holdings Inc (PYPL.O) , Bloomberg News has reported (https://reut.rs/3QcHXnL), and has previously bought stakes in companies including eBay inc (EBAY.O), Twitter Inc (TWTR.N) and AT&T Inc (T.N).Pinterest's shares were up at $24.36 after the bell on Monday, still way off their record high of $89.90 hit in February 2021, when people, cooped up at home during the pandemic, thronged the company for inspiration for projects.The statement from Elliott came as Pinterest reported a lower-than-expected profit due to higher costs and users spending less time on its platform.Like its peers, Pinterest has suffered from advertisers cutting back on budgets in response to increasing costs and recession fears.The company saw weakness from advertisers in the consumer packaged goods category, big-box retailers and mid-market advertisers, finance chief Todd Morgenfeld said, adding that the digital advertising environment will continue to be challenging.The company said it expected revenue growth of mid single-digit percentage in the current quarter, crimped by the impact of a stronger dollar.Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik and Mehnaz Yasmin in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.",Pinterest shares surge after Elliott discloses it is the largest shareholder.
"Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S. 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 1 (Reuters) - Ben & Jerry's and its parent Unilever Plc (ULVR.L) said talks had broken down to resolve their dispute over the sale of the ice cream maker's Israeli business, which would allow its products in the occupied West Bank.In a letter on Monday to U.S. District Judge Andrew Carter in Manhattan, a lawyer for Ben & Jerry's said two weeks of mediation to settle out of court proved unsuccessful.He asked Carter to restore Ben & Jerry's request for a preliminary injunction to block Unilever from selling the Israeli ice cream business to local licensee Avi Zinger.Register now for FREE unlimited access to Reuters.comUnilever has said the sale closed on June 29 and cannot be undone. A lawyer for Unilever said in a separate letter to Carter that the company is prepared for a hearing on the proposed injunction.Reuters reported last week that the talks had broken down. read more A Ben & Jerry's spokesman declined to comment. Unilever did not immediately respond to requests for comment.Ben & Jerry's had sued Unilever, which has owned the Burlington, Vermont-based company since 2000, on July 5.It claimed that by selling the Israeli business, Unilever reneged on its promise to let the maker of Half Baked, Cherry Garcia and Chunky Monkey protect its brand. read more Ben & Jerry's had in July 2021 said it would end ice cream sales in Israeli-occupied Palestinian territories because it was ""inconsistent"" with its values. read more Israel condemned the move, and some investors sold their Unilever stocks and bonds.Most countries consider Israeli settlements in the occupied West Bank illegal.Reuters reported last week that the mediation failed because Ben & Jerry's did not want to ""cave"" on its social mission. read more Unilever has said Ben & Jerry's had the right to make its own decisions about that mission.The battle tests how far Unilever will give its brands freedom to have social missions.Unilever has more than 400 brands including Dove soap, Hellmann's mayonnaise, Knorr soup and Vaseline skin lotion.Register now for FREE unlimited access to Reuters.comReporting by Jessica DiNapoli in New York and Jonathan Stempel in New York; Editing by Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Ben & Jerry's talks with Unilever over Israeli dispute break down.
"President of the Chamber of Deputies Sergio Massa attends an event after midterm elections in Buenos Aires, Argentina, November 14, 2021. REUTERS/Agustin MarcarianRegister now for FREE unlimited access to Reuters.comBUENOS AIRES, Aug 1 (Reuters) - Argentina's new economy superminister appointed his top advisers on Monday, vowing to stop high inflation and the deterioration of the South American country's economy.Sergio Massa appointed Eduardo Setti, an economist with experience in capital markets, to be finance secretary, while the experienced Daniel Marx will be part of the public debt monitoring team. Raul Rigo will be the treasury secretary.The decision comes days after Massa was appointed to lead the new ministry, which oversees economic, manufacturing and agricultural policy. The government formed it with the aim of fighting high inflation, a paralyzing fiscal deficit and a currency at historic lows against the dollar. read more Register now for FREE unlimited access to Reuters.com""Their objective is to strengthen reserves, ensure treasury financing and promote the development of a national capital market,"" Massa said on Twitter.Massa is set to announce other members of his team, such as the deputy minister or the secretaries of Agriculture and Energy, later on Monday.Local media said Massa will travel to the United States and France at the end of August to meet with authorities from the International Monetary Fund and the Club of Paris.Argentina has a $44 billion debt with the Fund and is renegotiating $2 billion in outstanding debt with the Club of Paris, an informal group of creditor countries that looks for ways of repayment for countries struggling with financial obligations.Massa is expected to resign as the head of Congress's lower house Tuesday before being sworn in to his new position Wednesday, when he will hold a press conference to give more detail about his plans for the role.Argentina's Merval stock index (.MERV) fell 4% to 117,586.78 points after gaining almost 8% last week.With the cabinet reshuffle, the government, whose approval rating is plummeting, hopes to quell social unrest over high prices and avoid further deterioration before the 2023 presidential elections.Register now for FREE unlimited access to Reuters.comReporting by Lucila Sigal; Writing by Carolina Pulice; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",Argentina's economy superminister appoints top advisers.
"Coal prices are soaring and global coal consumption is expected to return to record levels reached almost 10 years ago as the global energy supply crunch continues. While investors in coal stocks are having a field day thanks to high coal prices, curbs on carbon emissions are taking a backseat as markets and governments scramble to stock up on traditional energy supply amid bottlenecks caused by the Ukraine war, analysts say.Worse, slowing investments in new coal-powered energy facilities have tightened the supply of coal even further, Shaw and Partners senior analyst Peter O'Connor told CNBC's ""Squawk Box Asia"" on Friday.""Who would have thought dirty ol' coal would have been the best-performing equities in the last financial year. So far this financial year it's also the best-performing sector,"" O'Connor said. ""And looking at the year ahead through the northern winter with gas prices in Europe and gas supply availability, countries are turning back to coal. ""And supply [of coal] is tight. Why? Because nobody's building capacity and markets will remain tight given the weather and Covid. So that market will stay higher for longer, probably well into 2023 calendar year.""At the heart of the continuing surge in demand for coal is the shortage of gas as the European Union moves to reduce the use of Russian gas — stopping short of a gas ban — while Russia responds by cutting supplies to the continent.Dwalker44 | E+ | Getty ImagesThe price of thermal coal used for power generation has risen about 170% since late last year, rising sharply after the Ukraine war started. In contrast, the other majorly traded coal, the steelmaking ingredient coking coal, is trading lower. Driven by different dynamics, muted economic growth in China is cooling steel production and, by extension, demand for coking coal. The International Energy Agency released a fresh report on Wednesday warning that global coal consumption is set to rise by 0.7% in 2022 to match the record set in 2013, assuming the Chinese economy recovers as expected in the second half of the year. ""The global total would match the annual record set in 2013, and coal demand is likely to increase further next year to a new all-time high,"" the IEA's Coal Market Update said. ""That sharp rise contributed significantly to the largest ever annual increase in global energy-related CO2 emissions in absolute terms, putting them at their highest level in history,"" the IEA said. Worldwide coal consumption had already rebounded by about 6% in 2021 when the global economy recovered from the initial shock of the Covid pandemic, the IEA said. At the heart of the continuing surge in demand for coal is the shortage of gas as the European Union moves to reduce the use of Russian gas — stopping short of a gas ban — while Russia responds by cutting supplies to the continent.Coal consumption in the EU is therefore expected to rise by 7% in 2022 on top of last year's 14% jump, the IEA says. ""This is being driven by demand from the electricity sector where coal is increasingly being used to replace gas, which is in short supply and has experienced huge price spikes following Russia's invasion of Ukraine,"" it said. ""Several EU countries are extending the life of coal plants scheduled for closure, reopening closed plants or raising caps on their operating hours to reduce gas consumption."" At the same time, boycotts of Russian coal add further upward pressures on coal prices, the agency said.""Europe's worst fears materialised this week after Russia cut flows via the Nord Stream pipeline to 20% of capacity. Gas inventories may not reach levels high enough to get through the winter,"" ANZ Research commodity analysts Daniel Hynes and Soni Kumari said in a note on Friday. ""As Europe's spare import capacity is limited, it is likely to compete aggressively for LNG shipments.""The global gas market, including Asia-Pacific, is feeling the pain. On Wednesday, Japan's Nippon Steel Corporation signed an agreement with mining and trading giant Glencore for thermal coal supply at $375 a tonne, the highest price a Japanese firm has paid for the commodity, according to Bloomberg.All in all, surging energy costs continue to contribute to global inflation, forcing central banks to continue their monetary tightening. The Federal Reserve raised its benchmark interest rates by 75 basis points on Wednesday, the latest in a series of rate hikes intended to tame inflation.",'Dirty ol' coal' is making a comeback and consumption is expected to return to 2013′s record levels.
"The Intel Corporation logo is seen on a display in a store in Manhattan, New York City, U.S., November 24, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comSummaryLaw firmsRelated documentsVLSI previously won more than $2 billion from Intel in TexasJudge said disclosures of VLSI's owners not specific enough(Reuters) - A Delaware federal judge put VLSI Technology LLC's patent case against Intel Corp on hold Monday, citing a failure to provide sufficient information about the company's investors.U.S. District Judge Colm Connolly said a court declaration from VLSI CEO Michael Stolarski gave vague information and improperly redacted details about several entities with a stake in the company.The case is part of a blockbuster dispute over computer-chip patents that led to a $2.1 billion jury verdict for VLSI against Intel in Waco, Texas last year. Intel defeated VLSI's bid for over $3 billion more in a second Waco trial, and a third trial in Austin was postponed after participants tested positive for COVID-19.Register now for FREE unlimited access to Reuters.comConnolly announced that he was pausing the Delaware case until VLSI fully complies with a standing court order to reveal every entity with an interest in it.Stolarski and VLSI's lead attorney did not immediately respond to requests for comment.""We welcome the Court's interest in understanding who is backing VLSI's case,"" an Intel spokesperson said.VLSI is a patent-holding company owned by investment funds managed by Fortress Investment Group LLC, a SoftBank Group Corp subsidiary. VLSI sued Intel in Delaware in 2018 for infringing five patents related to semiconductor technology.Connolly issued a standing order in April that requires a corporate party to disclose every ""owner, member, and partner."" In response, Stolarski named 10 entities that jointly own VLSI Technology's parent company VLSI Holdings.Stolarski said the majority owner, Fortress-managed FCOF IV UST LLC, is an investment fund ""comprised of six individual funds, with combined total net assets of approximately $1.8 billion."" The ""ultimate owners"" of FCOF IV, he said, are ""hundreds of outside investors"" including ""pension and retirement funds, sovereign wealth funds, foundations, high net worth individuals, endowments"" and others.VLSI's nine minority owners are also Fortress-managed investment funds, Stolarski said.Connolly said Monday that VLSI's disclosures were ""clearly inadequate."" He noted that Stolarski failed to identify the six funds that own FCOF IV or the investment funds backing VLSI's minority owners.Connolly also said he was ""troubled"" by VLSI's redactions to some of its disclosures about its backers, and ordered them to be made public.The case is VLSI Technology LLC v. Intel Corp, U.S. District Court for the District of Delaware, No. 1:18-cv-00966.For VLSI: Morgan Chu of Irell & ManellaFor Intel: William Lee of Wilmer Cutler Pickering Hale and DorrRead more:Intel loses U.S. patent trial, ordered to pay $2.18 billion to VLSI TechIntel defeats VLSI Technology in $3.1 bln patent trialCOVID-19 cases derail billion-dollar Intel patent trial for nowRegister now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.Blake BrittainThomson ReutersBlake Brittain reports on intellectual property law, including patents, trademarks, copyrights and trade secrets. Reach him at blake.brittain@thomsonreuters.com","Judge hits pause in Intel patent case, says VLSI must detail investors."
"CBS Mornings August 1, 2022 / 12:42 PM / CBS News LeAnn Rimes was only 13 years old when her song ""Blue"" turned her into a sensation 26 years ago. At 14, she became the youngest person to win a Grammy, taking home two awards.As a rising star, Rimes displayed charm and confidence as she chased her dream.""We can believe that we are great, like there's no shame in that,"" she told CBS News correspondent Jamie Yuccas. ""I know for so long, especially being in this business, it's like you have to be humble,"" Rimes said. ""And I'm like, 'I'm freakin humble.' I'm humbled to everything that gets to come through me. And at the same time, I know what I can do.""The singer-songwriter recently joined Yuccas in a Los Angeles recording studio to share memories of her remarkable career and what inspired her 18th studio album, ""God's Work,"" due out in September. The interview is part of the new ""CBS Mornings"" series ""Mornings Mixtape,"" which will highlight iconic artists who have stood the test of time with songs we love and just can't get out of our heads. Born in Mississippi and raised in Texas, Rimes has been singing since she was a toddler, and she started performing at the age of 5. She was barely a teenager when she became the youngest and first country singer to win a Grammy award for best new artist back in 1997. The dress Rimes wore that night is now part of ""The Power of Women in Country Music"" exhibit at the Grammy Museum in Los Angeles. Her memories of the night include being sick with a high fever.""I remember my publicist and I walked outside. I was standing in the rain waiting for my car. I was like, 'I bet Whitney Houston doesn't wait for her car in the rain,'"" she recalled during a tour of the museum. But Rimes says success so early in life contributed to her struggles with anxiety and depression as an adult. She's been open about it in an effort to end the shame surrounding mental health. ""The one thing about me is I have a lot of grit. And I have a lot of resilience. If I wasn't resilient, I wouldn't be here,"" Rimes said.""I mean, there's been many times in my life that I could've easily chosen a different way out or just not come back from where I was. But I have such a fight. That rebellion that has gotten me into trouble many times has also saved my life,"" she said, adding that her resilience ""truly saved my life, many times.""Rimes is sharing her spiritual journey on her upcoming album ""God's Work,"" which she worked on with her longtime collaborator Darrell Brown and a diverse group of artists. One of the songs is a rallying cry to protect the environment.""Music was an instant connection to all of creation,"" she said. ""I'll cry talking about it because it is so powerful.""Rimes said it was a conscious decision to bring in diverse voices into her music.""I've always wanted to,"" she said. ""It takes everybody to raise a society that is well loved and well supported.""Like so many during the pandemic, Rimes was feeling lonely and introspective — but she found solace in the studio. Reflecting on those times, she spoke about the importance of feeling vulnerable. ""We don't use our heart enough. We don't use our empathy enough. We're too scared to be hurt,"" Rimes said. ""I know I'm speaking from my own experience here, but I feel like a lot of people can relate.""I mean, vulnerability is such a superpower. It's our greatest superpower, in my opinion,"" she said.Rimes' current tour is aptly called ""The Story, So Far."" And the award-winning singer-songwriter will hit another milestone later this month: she's turning 40.""I'm ready to mature,"" she said. ""Growing up in this business in front of everyone, people have literally wanted to keep me a certain age forever. It's only in the past few years I feel like people have allowed me to grow into a woman. Also, I've allowed myself to grow into a woman.""Happily married to actor Eddie Cibrian for the past 11 years, Rimes is finally comfortable sharing the song she wrote for their wedding and recorded for the album.""When you talk about love, there's no way to get around being sappy sometimes..."" she said. ""I've gone through a lot. I've lived a lot of life in 40 years. I'm ready for a calmer time."" In: Music","LeAnn Rimes looks back on her career, personal life: ""If I wasn't resilient, I wouldn't be here""."
"A sign for TD Canada Trust in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos OsorioRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Canada's Toronto-Dominion Bank (TD.TO) is in advanced talks to buy U.S. boutique investment bank and brokerage Cowen Inc (COWN.O) for more than $1 billion, a source familiar with the matter said.A formal announcement could come as soon as Tuesday for a deal that would see TD Bank pay $39 per share for New York-based Cowen. This would be a premium to the $35.49 price at which Cowen's stock closed on Monday.The source spoke on condition of anonymity to discuss confidential information. Cowen and TD did not immediately respond to requests for comment.Register now for FREE unlimited access to Reuters.comTD's buyout of Cowen would be its second announced U.S. acquisition this year. In February, TD agreed to buy First Horizon Corp (FHN.N) for $13.4 billion to expand its presence in the southeastern United States. read more Cash rich Canadian banks have been on a shopping spree in the U.S. in recent months, hoping to bolster their operations outside of their largely saturated home turfs. read more New York-based Cowen, founded over a century ago, offers investment banking and brokerage services to its clients. Its acquisition would give TD Bank increased penetration within these business lines in the U.S.The Wall Street Journal reported on the talks between the two companies earlier on Monday.Register now for FREE unlimited access to Reuters.comReporting by Svea Herbst-Bayliss; Writing by David French in New York; Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",Canada's TD Bank nears $1 bln deal for U.S. brokerage Cowen -source.
"Trains cars filled with phosphate pebbles leave Mosaic's South Fort Meade Mine in Fort Meade, Florida January 13, 2010.REUTERS/Scott AudetteRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Mosaic Co (MOS.N) said on Monday it expects tight grain and oilseed markets into 2023, encouraging the continued use of fertilizers despite their surging costs.""The war in Ukraine, high temperatures in North America and Europe, and developing drought conditions in parts of South America highlight the risk for reduced yields globally,"" Mosaic said.The world's fourth-largest fertilizer producer added supplies of crop nutrients potash and phosphates remain constrained after sanctions on Belarus and export restrictions in China.Register now for FREE unlimited access to Reuters.comCompanies such as Mosaic have been raising production after sanctions on Russia and Belarus, the world's No.2 and 3 fertilizer suppliers.The sanctions have worsened global supply shortfalls of crucial crop nutrients and sent their prices soaring. During the April-June quarter, prices of nutrients approached levels not seen since the 2008 food crisis, when the prices had hit an all-time high.Mosaic, however, posted second-quarter adjusted earnings of $3.64 per share, missing analysts' expectations of $4.04 a share, as per Refinitiv data.Net sales jumped 92% to $5.37 billion but missed consensus of $5.62 billion.Mosaic, the world's largest producer of finished phosphate products, said net sales in its phosphates segment grew to $1.8 billion from last year's $1.2 billion.CF Industries Holdings Inc (CF.N), which overtook Mosaic in market capitalization during the quarter to become the world's third-biggest fertilizer maker, posted record quarterly profits.Net income attributable to CF was $1.17 billion, or $5.58 a share, in the quarter ended June 30, from last year's $246 million, or $1.14 per share.CF, primarily focused on nitrogen-based fertilizers, said it expects global nitrogen supply-demand balance to remain tight ""for the foreseeable future"", as the world rushes to replenish grains stocks to prevent a humanitarian crisis.Register now for FREE unlimited access to Reuters.comReporting by Ruhi Soni in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.",Mosaic sees fertilizer demand supported by tight crop supplies into 2023.
"1,091 episodes “Mad Money” takes viewers inside the mind of one of Wall Street’s most respected and successful money managers for free. Cramer is listeners’ personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind—to help you make money. “Mad Money” features the unmatched, fiery opinions of Jim Cramer and the popular Lightning Round, in which he gives his buy, sell and hold opinions on stocks to callers. “Mad Money” takes viewers inside the mind of one of Wall Street’s most respected and successful money managers for free. Cramer is listeners’ personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind—to help you make money. “Mad Money” features the unmatched, fiery opinions of Jim Cramer and the popular Lightning Round, in which he gives his buy, sell and hold opinions on stocks to callers. AUG 1, 2022 U.S Secretary of Commerce, Hertz CEO & AGCO CEO 8/1/22 U.S Secretary of Commerce, Hertz CEO & AGCO CEO 8/1/22 The three major averages posted minor losses today, and Jim Cramer is leading investors through the market with this week’s Game Plan. Next, with the CHIPS Act heading to the President's desk for signing after being passed in the House, U.S. Secretary of Commerce Gina Raimondo returns to discuss more about the legislation’s journey and what it means for domestic semiconductor manufacturing. Then, Agco CEO Eric Hansotia is breaking down the company's outlook after a strong quarter. Plus, Hertz CEO Stephen Scherr. JUL 29, 2022 CNBC Special: The Tech Trade 7/29/22 CNBC Special: The Tech Trade 7/29/22 ARK Innovation’s Cathie Wood and Satori’s Dan Niles on the bull and bear case for growth in your portfolio. Hosted by Deirdre Bosa. JUL 28, 2022 Mad Money w/ Jim Cramer 7/28/22 Mad Money w/ Jim Cramer 7/28/22 Listen to Jim Cramer’s personal guide through the confusing jungle of Wall Street investing, navigating through opportunities and pitfalls with one goal in mind - to help you make money. JUL 27, 2022 Bank of America CEO, Ford CEO & Shopify President 7/27/22 Bank of America CEO, Ford CEO & Shopify President 7/27/22 All three averages rose and Jim Cramer is breaking down the market's reversal off yesterday’s declines. Then, Bank of America CEO Brian Moynihan talks to Cramer about interest rates, inflation, recent technology investments and the state of the consumer. Next, Ford CEO Jim Farley joins Cramer after the company reported a strong beat for its most recent quarter. Plus, Cramer's exclusive with Shopify. JUL 26, 2022 Nucor CEO, Logitech CEO & Foreign Exchange Impact 7/26/22 Nucor CEO, Logitech CEO & Foreign Exchange Impact 7/26/22 All three major averages fell, and Jim Cramer is guiding investors through what caused the market's drop. Then, Nucor CEO Leon Topalian talks to Cramer regarding second quarter earnings and guidance. Next, Cramer is taking a look at some of the stocks within the S&P 500 that investors should look towards when considering foreign exchange and the impact of the strong U.S. dollar. Plus, Cramer is joined by Logitech CEO Bracken Darrell. JUL 25, 2022 Prologis CEO, Cleveland-Cliffs CEO & NYSE President 7/25/22 Prologis CEO, Cleveland-Cliffs CEO & NYSE President 7/25/22 The Dow started the week up roughly 90 points, and Jim Cramer is guiding investors through the market with this week’s Game Plan. Next, Prologis CEO Hamid Moghadam talks about the company's relationship with Amazon, most recent quarter and demand for logistics facilities. Then, Cleveland-Cliffs CEO Lourenco Goncalves joins Cramer after reporting to provide more context about the quarter and guidance. Plus, Cramer's exclusive with New York Stock Exchange President Lynn Martin. Customer Reviews 4.3 out of 5 3.7K Ratings Covid Every shot, every test and still covitized. Sounds like you now have natural immunity. What took you so long? Welcome to the club. Jim is over optimistic Why everyone calling sounds like a drunk as Jim? Great!!! All you have to say is Kramer! He’s the Best! Top Podcasts In Business You Might Also Like More by CNBC",‎Mad Money w/ Jim Cramer on Apple Podcasts.
"Formula One F1 - Hungarian Grand Prix - Hungaroring, Budapest, Hungary - July 31, 2022 Red Bull's Max Verstappen celebrates on the podium after winning the race REUTERS/Bernadett SzaboRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Max Verstappen can enjoy Formula One's August break knowing that it is now surely a question of where he wins his second title rather than whether.The Red Bull driver is 80 points clear of his closest rival, Ferrari's Charles Leclerc, after 13 of 22 races and that is the kind of margin -- more than three race wins -- that simply does not get overturned in grand prix racing.The statistics after Sunday's Hungarian Grand Prix, won by Verstappen from 10th on the grid and despite a spin, point to a conclusion with several races to spare however thrilling the action has been.Register now for FREE unlimited access to Reuters.comEven if Leclerc were to win every remaining round with a bonus point for fastest lap it would still not be enough if Verstappen finishes second every time -- and he has been on the podium nine times in the last 10 races.No Ferrari driver has ever won nine successive races in a season, a feat achieved only by Sebastian Vettel at Red Bull in 2013, and their current campaign has been plagued by unreliability and mistakes.Mercedes's seven-times world champion Lewis Hamilton is sixth in the championship, 112 points adrift of Verstappen, and yet the Briton has been on the podium this season more often than Leclerc.Verstappen is making very few mistakes and showing plenty of patience and maturity, biding his time and then reaping the rewards.The 24-year-old has won eight of the first 13 races, putting him well on track to equal or beat the record of 13 wins in a season shared by Vettel and Ferrari great Michael Schumacher, who was dominant in 2004.This season is longer than in those days, however, with Schumacher winning 13 of 18 and Vettel 13 of 19.Verstappen, naturally, refused to take anything for granted and shrugged off talk of records on Sunday.""I don't know. We’ll of course try to win as many as we can in the remaining races we have,"" he said.""But of course, more importantly, we have to keep the lead in the Championship. That's, of course, what we have to try and secure.""Verstappen has previously won at six of the nine circuits still to come, with home rounds in Belgian and the Netherlands next up.Last year's title went down to the wire, controversially, in Abu Dhabi but there is little chance of that race deciding anything this time.Ferrari will undoubtedly continue to put up a straight fight but Mercedes have moved back into the mix after a difficult early season, and Verstappen welcomed that.""It's good that they are competitive because then they can steal more points off Ferrari,"" he said. ""So I'm very happy.""(The story corrects para five to 'No Ferrari driver' from 'Ferrari have never')Register now for FREE unlimited access to Reuters.comReporting by Alan Baldwin, editing by Pritha SarkarOur Standards: The Thomson Reuters Trust Principles.",Verstappen's second F1 title is merely a matter of when.
"President Joe Biden said Monday evening that the U.S. conducted a drone strike that killed al-Qaeda leader Ayman al-Zawahiri in Afghanistan.Al-Zawahiri is believed to be one of the main architects behind the devastating Sept. 11 terrorist attacks on the World Trade Center and the Pentagon.""We made it clear again tonight that no matter how long it takes, no matter where you hide if you are a threat to our people the United States will find you and take you out,"" Biden said.WASHINGTON — President Joe Biden said Monday evening that the U.S. conducted a drone strike that killed al-Qaeda leader Ayman al-Zawahiri in Afghanistan, a revelation expected to degrade the terror group's ability to operate.""He carved a trail of murder and violence against American citizens, American servicemembers, American diplomats and American interests,"" Biden said of the pre-dawn precision strike that killed al-Zawahiri.""We made it clear again tonight that no matter how long it takes, no matter where you hide if you are a threat to our people the United States will find you and take you out,"" Biden added.Two people briefed on the strike confirmed to NBC News that the strike that killed al-Zawahiri was conducted by the CIA.A senior Biden administration official, who spoke on the condition of anonymity in order to share details of the strike, said U.S. intelligence analysts identified al-Zawahiri's location earlier this year.The official said the U.S. watched al-Zawahiri's movements for months and determined that he was living in a safe house in Kabul with his family.""We identified al-Zawahiri on multiple occasions for sustained periods of time on the balcony where he was ultimately struck,"" the official said.""Al-Zawahiri's family members were present in other parts of the safe house at the time of the strike and were purposely not targeted and were unarmed. We have no indication that civilians were harmed in this strike,"" the official added.The official said Biden received his final intelligence briefing on the matter on July 25 before approving the strike which involved an unmanned aerial vehicle and two Hellfire missiles.Al-Zawahiri, 71, a physician and founder of the Egyptian Islamic Jihad before ascending to the top ranks in the al-Qaeda network, was one of the architects behind the devastating Sept. 11 terrorist attacks on the World Trade Center and the Pentagon.In the weeks that followed the Sept. 11 attacks, the Taliban provided sanctuary to al-Qaeda while America mobilized for what would become its longest war.Al-Zawahiri succeeded Osama bin Laden as the head of al-Qaeda in 2011.Al-Zawahiri was previously indicted by the U.S. government for his alleged role in the 1998 bombings of the U.S. Embassies in Dar es Salaam, Tanzania, and Nairobi, Kenya.The State Department had previously offered a reward of up to $25 million for information leading to his apprehension.Sunday's drone strike is the first known CIA counterterrorism operation since Kabul fell to the Taliban last year. The senior administration official said that the U.S. did not coordinate the strike or give notice to the Taliban.","Biden reveals drone strike killed al-Qaeda leader al-Zawahiri, warns terrorists we will ‘take you out’."
"Stellantis logo is seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The U.S. business of Fiat Chrysler Automobiles was sentenced Monday after pleading guilty in June to criminal conspiracy and will pay nearly $300 million to resolve a multi-year U.S. Justice Department diesel-emissions fraud probe.FCA US LLC, formerly Chrysler Group LLC, previously struck a plea agreement with the Justice Department and agreed to pay a $96.1 million fine and forfeit $203.6 million. FCA US, now a unit of Stellantis NV (STLA.MI), was also sentenced to a three-year term of organizational probation.The company had been charged with making false representations about diesel emissions in more than 100,000 U.S. 2014-2016 Jeep Grand Cherokee and Ram 1500 diesel vehicles.Register now for FREE unlimited access to Reuters.comThe Justice Department said FCA had conspired to cheat U.S. emissions tests.The $300 million criminal penalty ""is the result of an exhaustive three-year investigation,” said Assistant Attorney General Todd Kim. ""This resolution shows that the Department of Justice is committed to holding corporate wrongdoers accountable for misleading regulators.""The government noted FCA US had previously paid a $311 million civil penalty and more $183 million in compensation to over 63,000 people as part of a class-action diesel lawsuit.The automaker must conduct an initial review of its compliance with the Clean Air Act and inspection and testing procedures, submit a report and prepare at least two follow-up reports. Reuters first reported the planned settlement in May.The Justice Department said FCA US installed deceptive software features intended to avoid regulatory scrutiny and fraudulently help the diesel vehicles meet required emissions standards.Stellantis said earlier it had accrued 266 million euros to account for the settlement. FCA merged with French Peugeot maker PSA in 2021 to form Stellantis.Three FCA US employees have been indicted for conspiracy to defraud the United States and violate the Clean Air Act and are awaiting trial.The plea deal comes five years after Volkswagen (VOWG_p.DE) pleaded guilty to criminal charges to resolve its own emissions crisis affecting nearly U.S. 600,000 vehicles in a scandal that became known as ""Dieselgate."" VW has paid more than $30 billion in connection with the scandal.Register now for FREE unlimited access to Reuters.comReporting by David Shepardson; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.","Stellantis unit sentenced in U.S. diesel emissions probe, will pay $300 mln."
"Osama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comSummaryJoined Muslim Brotherhood as a teenagerFrom a respected Cairo familyTook over al Qaeda after death of bin LadenWielded influence as ideologue, strategistLacked bin Laden's charismaDUBAI, Aug 1 (Reuters) - Ayman al-Zawahiri succeeded Osama bin Laden as al Qaeda leader after years as its main organizer and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire spectacular attacks on the West.Zawahiri, 71, was killed in a U.S. drone strike, U.S. President Joe Biden said on live television on Monday evening. U.S. officials said the attack took place on Sunday in the Afghan capital Kabul.He had watched in dismay as al Qaeda was effectively sidelined by the 2011 Arab revolts, launched mainly by middle class activists and intellectuals opposed to decades of autocracy. read more Register now for FREE unlimited access to Reuters.comIn the years following bin Laden's death, U.S. air strikes killed a succession of Zawahiri's deputies, weakening the veteran Egyptian militant's ability to coordinate globally.Despite a reputation as an inflexible and combative personality, Zawahiri managed to nurture loosely affiliated groups around the world that grew to wage devastating local insurgencies, some of them rooted in turmoil arising from the Arab Spring. The violence destabilized a number of countries across Asia, Africa and the Middle East.But al Qaeda's days as the centrally directed, hierarchical network of plotters that attacked the United States on Sept. 11, 2001, were long gone. Instead, militancy returned to its roots in local-level conflicts, driven by a mix of local grievances and incitement by transnational jihadi networks using social media.Zawahiri's origins in Islamist militancy went back decades.The first time the world heard of him was when he stood in a courtroom cage after the assassination of Egyptian President Anwar al-Sadat in 1981.""We have sacrificed and we are still ready for more sacrifices until the victory of Islam,"" shouted Zawahiri, wearing a white robe, as fellow defendants enraged by Sadat's peace treaty with Israel chanted slogans.Zawahiri served a three-year jail term for illegal arms possession, but was acquitted of the main charges.A trained surgeon - one of his pseudonyms was The Doctor - Zawahiri went to Pakistan on his release where he worked with the Red Crescent treating Islamist mujahideen guerrillas wounded in Afghanistan fighting Soviet forces.During that period, he became acquainted with bin Laden, a wealthy Saudi who had joined the Afghan resistance.Taking over the leadership of Islamic Jihad in Egypt in 1993, Zawahiri was a leading figure in a campaign in the mid-1990s to overthrow the government and set up a purist Islamic state. More than 1,200 Egyptians were killed.Egyptian authorities mounted a crackdown on Islamic Jihad after an assassination attempt on President Hosni Mubarak in June of 1995 in Addis Ababa. The greying, white-turbaned Zawahiri responded by ordering a 1995 attack on the Egyptian embassy in Islamabad. Two cars filled with explosives rammed through the compound's gates, killing 16 people.In 1999, an Egyptian military court sentenced Zawahiri to death in absentia. By then he was living the spartan life of a militant after helping Bin Laden to form al Qaeda.A videotape aired by Al Jazeera in 2003 showed the two men walking on a rocky mountainside - an image that Western intelligence hoped would provide clues on their whereabouts.THREATS OF GLOBAL JIHADFor years Zawahiri was believed to be hiding along the forbidding border between Pakistan and Afghanistan.
He assumed leadership of al Qaeda in 2011 after U.S. Navy Seals killed bin Laden in his hideout in Pakistan. Since then he repeatedly called for global jihad, with an Ak-47 as his side during video messages.In a eulogy for bin Laden, Zawahiri promised to pursue attacks on the West, recalling the Saudi-born militant’s threat that ""you will not dream of security until we live it as a reality and until you leave the lands of the Muslims"".As it turned out, the emergence of the even more hardline Islamic State in 2014-2019 in Iraq and Syria drew as much, if not more, attention from Western counter-terrorism authorities.Zawahiri often tried to stir passions among Muslims by commenting online about sensitive issues such as U.S. policies in the Middle East or Israeli actions against Palestinians, but his delivery was seen as lacking bin Laden's magnetism.On a practical level, Zawahiri is believed to have been involved in some of al Qaeda's biggest operations, helping organise the 2001 attacks, when airliners hijacked by al Qaeda were used to kill 3,000 people in the United States.He was indicted for his alleged role in the 1998 bombings of the U.S. embassies in Kenya and Tanzania. The FBI put a $25 million bounty on his head on its most wanted list.PROMINENT FAMILYZawahiri did not emerge from Cairo's slums, like others drawn to militant groups who promised a noble cause. Born in 1951 to a prominent Cairo family, Zawahiri was a grandson of the grand imam of Al Azhar, one of Islam's most important mosques.Zawahiri was raised in Cairo’s leafy Maadi suburb, a place favoured by expatriates from the Western nations he railed against. The son of a pharmacology professor, Zawahiri first embraced Islamic fundamentalism at the age of 15.He was inspired by the revolutionary ideas of Egyptian writer Sayyid Qutb, an Islamist executed in 1966 on charges of trying to overthrow the state.People who studied with Zawahiri at Cairo University’s Faculty of Medicine in the 1970s describe a lively young man who went to the cinema, listened to music and joked with friends.“When he came out of prison he was a completely different person,” said a doctor who studied with Zawahiri and declined to be named.In the courtroom cage after the assassination of Sadat at a military parade, Zawahiri addressed the international press, saying militants had suffered from severe torture including whippings and attacks by wild dogs in prison.""They arrested the wives, the mothers, the fathers, the sisters and the sons in a trial to put the psychological pressure on these innocent prisoners,"" he said, firing up a wild-eyed man beside him and other militants.Fellow prisoners said those conditions further radicalised Zawahiri and set him on his path to global jihad.Register now for FREE unlimited access to Reuters.comEditing by Michael Georgy, William Maclean and Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Ayman al-Zawahiri: from Cairo physician to al Qaeda leader.
"Osama bin Laden sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir (not pictured) in an image supplied by Dawn newspaper November 10, 2001. Hamid Mir/Editor/Ausaf Newspaper for Daily Dawn/Handout via REUTERS/File Photo Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri was killed in a U.S. strike in Afghanistan over the weekend, President Joe Biden said on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.Zawahiri, an Egyptian surgeon who had a $25 million bounty on his head, helped coordinate the Sept. 11, 2001, attacks that killed nearly 3,000 people.U.S. officials, speaking on the condition of anonymity, said the United States carried out a drone strike in the Afghan capital Kabul on Sunday morning at 6:18 a.m. local time.Register now for FREE unlimited access to Reuters.com""Now justice has been delivered, and this terrorist leader is no more,"" Biden said in remarks from the White House. ""We never back down.""U.S. intelligence determined with ""high confidence"" that the man killed was Zawahiri, a senior administration official told reporters. No other casualties occurred.""Zawahiri continued to pose an active threat to U.S. persons, interests and national security,"" the official said on a conference call. ""His death deals a significant blow to al Qaeda and will degrade the group's ability to operate.""There were rumors of Zawahiri's death several times in recent years, and he was long reported to have been in poor health.His death raises questions about whether Zawahiri received sanctuary from the Taliban following their takeover of Kabul in August 2021. The official said senior Taliban officials were aware of his presence in the city.The drone attack is the first known U.S. strike inside Afghanistan since U.S. troops and diplomats left the country in August 2021. The move may bolster the credibility of Washington's assurances that the United States can still address threats from Afghanistan without a military presence in the country.In a statement, Taliban spokesman Zabihullah Mujahid confirmed that a strike took place and strongly condemned it, calling it a violation of ""international principles."" read more Zawahiri succeeded bin Laden as al Qaeda leader after years as its main organizer and strategist, but his lack of charisma and competition from rival militants Islamic State hobbled his ability to inspire spectacular attacks on the West. read more Until the U.S. announcement, Zawahiri had been rumored variously to be in Pakistan's tribal area or inside Afghanistan.A video released in April in which he praised an Indian Muslim woman for defying a ban on wearing an Islamic head scarf dispelled rumors that he had died.The senior U.S. official said finding Zawahiri was the result of persistent counterterrorism work. The United States identified this year that Zawahiri's wife, daughter and her children had relocated to a safe house in Kabul, then identified that Zawahiri was there as well, the official said.""Once Zawahiri arrived at the location, we are not aware of him ever leaving the safe house,"" the official said. He was identified multiple times on the balcony, where he was ultimately struck. He continued to produce videos from the house and some may be released after his death, the official said.In the last few weeks, Biden convened officials to scrutinize the intelligence. He was updated throughout May and June and was briefed on July 1 on a proposed operation by intelligence leaders. On July 25 he received an updated report and authorized the strike once an opportunity was available.A loud explosion echoed through Kabul early Sunday morning.""A house was hit by a rocket in Sherpoor. There were no casualties as the house was empty,"" Abdul Nafi Takor, spokesman of the interior ministry, said earlier.One Taliban source, requesting anonymity, said there had been reports of at least one drone flying over Kabul that morning.With other senior al Qaeda members, Zawahiri is believed to have plotted the October 12, 2000, attack on the USS Cole naval vessel in Yemen which killed 17 U.S. sailors and injured more than 30 others, the Rewards for Justice website said.He was indicted in the United States for his role in the August 7, 1998, bombings of the U.S. embassies in Kenya and Tanzania that killed 224 people and wounded more than 5,000 others.Both bin laden and Zawahiri eluded capture when U.S.-led forces toppled Afghanistan’s Taliban government in late 2001 following the Sept. 11 attacks on the United States.Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali and Jeff Mason; Additional reporting by Alexandra Alper, Eric Beech, Jonathan Landay, Arshad Mohammed and Matt Spetalnick in Washington and Mohammad Yunus Yawar in Kabul; Editing by Leslie Adler, Grant McCool and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.",Biden: Al Qaeda leader Zawahiri killed in U.S. strike in Afghanistan.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesU.S. manufacturing sector slows modestlyPerkinElmer rises on $2.45 billion divestmentIndexes end: S&P 500 -0.28%, Nasdaq -0.18%, Dow -0.14%Aug 1 (Reuters) - Wall Street ended lower after a choppy session on Monday, with declines in Exxon Mobil (XOM.N) and other energy companies weighing against gains in Boeing (BA.N) as investors digested the U.S. stock market's biggest monthly gains in two years.Stocks gave up some of a strong rally from last week that was driven by bets the Federal Reserve may not need to be as aggressive with interest rate hikes as some had feared.Also helped by stronger-than-expected second-quarter results, the S&P 500 and the Nasdaq in July posted their biggest monthly percentage gains since 2020.Register now for FREE unlimited access to Reuters.comThe S&P 500 bounced between gains and declines on Monday as some investors became more cautious in the wake of that recent rally.The Federal Reserve says it aims to tame inflation and cool down demand with the interest rate hikes, but some investors and analysts worry that its aggressive moves could drive up unemployment and cripple the economy.""There are still a lot of questions about whether we are really out of the woods economically, and we probably aren't,"" said Tom Martin, senior portfolio manager at GLOBALT Investments in Atlanta. ""We're not even close on the (economic) effects of the Fed raising interest rates.""U.S. manufacturing activity slowed-less-than-expected in July, with signs that supply constraints are easing, a report showed. read more That data came on the heels of surveys indicating factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 curbs slowed production. read more Oil prices fell on demand concerns, which in turn weighed on the energy sector. The S&P 500 energy index (.SPNY) tumbled and was the deepest decliner among 11 sectors.Exxon Mobil slid 2.5% and was among the stocks contributing the most to the S&P 500's decline.A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS/Carlo AllegriA monthly U.S. jobs report on Friday will be parsed for clues about the Fed's next moves in its fight against decades-high inflation.The U.S. central bank has raised interest rates by 2.25 percentage points so far this year and has vowed to be data-driven in its approach toward future hikes.Boeing Co (BA.N) gained 6.1% after Reuters reported the U.S. aviation regulator approved the planemaker's inspection and modification plan to resume deliveries of 787 Dreamliners. read more The S&P 500 is down about 14% in 2022. However, recent quarterly reports have shown companies' profits were far more resilient than estimated. Of 283 S&P 500 companies that have reported results, 78% have topped profit estimates, as per Refinitiv data. The long-term average is 66%.The S&P 500 declined 0.28% to end the session at 4,118.59 points.The Nasdaq declined 0.18% to 12,368.98 points, while Dow Jones Industrial Average declined 0.14% to 32,798.60 points.U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday. China warned that its military would never ""sit idly by"" if she visited the self-ruled island claimed by Beijing. read more PerkinElmer Inc (PKI.N) jumped after the medical diagnostic firm said it will sell some of its businesses along with the brand name to private equity firm New Mountain Capital for up to $2.45 billion in cash. read more Across the U.S. stock market (.AD.US), declining stocks outnumbered rising ones by a 1.1-to-one ratio.The S&P 500 posted 5 new highs and 31 new lows; the Nasdaq recorded 68 new highs and 98 new lows.Volume on U.S. exchanges was relatively light, with 10.3 billion shares traded, compared to an average of 10.8 billion shares over the previous 20 sessions.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh, Devik Jain and Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.",Wall Street ends down after biggest month since 2020.
"U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks during a news conference after the U.S. Senate passed legislation to subsidize the domestic semiconductor industry, at the U.S. Capitol in Washington, U.S., July 27, 2022. REUTERS/Elizabeth FrantzRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Top Democrats including Senate majority leader Chuck Schumer have joined an effort to place China's fast-growing chip manufacturer, Yangtze Memory Technologies Company (YMTC), on a U.S. trade blacklist.In a letter to U.S. Commerce Secretary Gina Raimondo dated July 28, Schumer and a half-dozen other senators from both parties described the ""growing threat"" posed by Chinese semiconductor manufacturers like YMTC to national security and U.S. chip companies.""By failing to add YMTC to the Entity List, the U.S. Department of Commerce is allowing the PRC to exploit our technological sector and supply sanctioned parties in China,"" states the letter, which was seen by Reuters on Monday.Register now for FREE unlimited access to Reuters.comU.S. exports to companies placed on the Commerce Department's trade blacklist, formally known as the entity list, are restricted. Huawei Technologies Co Ltd (HWT.UL), a Chinese telecommunications equipment maker, was put on the list in 2019, and the letter said YMTC is supplying them, limiting the effectiveness of the sanctions.In addition to Schumer, the letter was signed by Democratic Senator Mark Warner, and Republican senators John Cornyn, Marco Rubio, Bill Hagerty, James Risch and Mike Crapo. Rubio and Hagerty wrote letters earlier saying YMTC should be blacklisted.A spokesperson for the Department of Commerce in Washington confirmed the letter was received and said it would respond. YMTC did not immediately respond to a request for comment.YMTC produces NAND flash memory chips, which store data in devices such as smartphones and personal computers and at data centers.The company, which was formed in 2016, accounts for only about 5% of worldwide NAND production, but that is almost double from a year ago, according to industry research.""YMTC is an immediate threat,"" the senators wrote in their letter, saying that in its bid to secure market share, YMTC is set to drive industry-wide margins negative and force non-Chinese memory firms to exit the market or consolidate.Separately, Reuters reported on Monday that the Biden administration was considering limiting shipments of American chipmaking equipment to memory chip makers in China, including YMTC. read more In response, the Commerce Department said the administration is focused on impairing China's efforts to manufacture advanced semiconductors and was updating its approach and seeking to maximize the effectiveness of export controls.In their letter, the senators asked Raimondo to bring policy deliberations to a rapid conclusion.Register now for FREE unlimited access to Reuters.comReporting by Karen Freifeld in New York
Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.","U.S. senators Schumer, Warner join calls to blacklist Chinese chipmaker YMTC."
"SINGAPORE — Asia-Pacific stocks are set to trade lower on Tuesday as South Korea's inflation rises and investors look ahead to the Reserve Bank of Australia's interest rate decision.The Nikkei futures contract in Chicago was at 27,920 while its counterpart in Osaka was at 27,890. That compared against the Nikkei 225's last close at 27,993.35.SPI futures in Australia stood at 6,880, lower than the S&P/ASX 200's last close at 6,993.The Reserve Bank of Australia is expected to hike by 50 basis points after official data showed prices in Australia rose 6.1% in the second quarter compared with a year ago.Stock picks and investing trends from CNBC Pro:Consumer prices in South Korea rose 6.3% in July compared with the same period in 2021, official data showed on Tuesday. That's in line with expectations and the fastest acceleration in prices since November 1998, Reuters reported.The Bank of Korea raised rates by 50 basis points in July.Overnight in the U.S., the Dow Jones Industrial Average lost 46.73 points, or 0.14%, to 32,798.40.The S&P 500 shed 0.28% to 4,118.63 and the Nasdaq Composite lost 0.18% and closed at 12,368.98.CurrenciesThe U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 105.450.The Japanese yen traded at 131.61 per dollar, continuing its strengthening trend. The Australian dollar was at $0.7025, after breaking above $0.7.",Asia markets poised to fall; South Korea's inflation accelerates.
"[The feed will begin at 7:30 p.m. ET]WASHINGTON — President Joe Biden will announce Monday that a CIA counterterrorism strike in Afghanistan killed al-Qaeda leader Ayman al-Zawahiri, two sources familiar with the matter told NBC News. The Associated Press first reported that al-Zawahiri was killed in the operation.The strike ""was successful and there were no civilian casualties,"" a senior Biden administration official said earlier, without confirming the identity of the target. The official spoke on the condition of anonymity.Biden is slated to speak from the White House at 7:30 p.m. ET.Al-Zawahiri, 71, a physician and founder of the Egyptian Islamic Jihad before ascending to the top ranks in the al-Qaeda network, was one of the architects behind the devastating Sept. 11 terrorist attacks on the World Trade Center and the Pentagon. In the weeks that followed the Sept. 11 attacks, the Taliban provided sanctuary to al-Qaeda while America mobilized for what would become its longest war. Al-Zawahiri succeeded Osama bin Laden as the head of al-Qaeda in 2011.Al-Zawahiri was previously indicted by the U.S. government for his alleged role in the 1998 bombings of the U.S. Embassies in Dar es Salaam, Tanzania, and Nairobi, Kenya.The State Department had previously offered a reward of up to $25 million for information leading to his apprehension.Sunday's drone strike is the first known CIA counterterrorism operation since Kabul fell to the Taliban last year.Osama bin Laden (L) sits with his adviser Ayman al-Zawahiri, an Egyptian linked to the al Qaeda network, during an interview with Pakistani journalist Hamid Mir at an undisclosed location in Afghanistan.Visual News | Getty Images",Watch live: Biden addresses the nation after U.S. strike in Afghanistan kills top al-Qaeda leader.
"Mexico's President Andres Manuel Lopez Obrador speaks during a news conference at the National Palace in Mexico City, Mexico, June 20, 2022. REUTERS/Edgard GarridoRegister now for FREE unlimited access to Reuters.comMEXICO CITY, Aug 1 (Reuters) - Mexican President Andres Manuel Lopez Obrador expropriated 1.09 million square meters (269 acres) for the construction of the Yucatan peninsula's planned Mayan Train railway, according to the official gazette published Monday.The 1,500 km (930 mile) line is already under construction, with the aim of linking tourist zones. Lopez Obrador deemed it a matter of national security at the end of July as several pending legal injunctions clouded its future.Monday's announcement said the Ministry of Agrarian, Territorial and Urban Development would compensate land owners in line with appraisals from the Institute of Administration and Appraisals of National Assets.Register now for FREE unlimited access to Reuters.comThe move is backed, according to the gazette, by the country's constitution, which it said both provided for land expropriation and asserted the priority of railways for national development.The president has insisted the multi-billion-dollar project will be finished by the end of next year.Lopez Obrador also strengthened control of the construction operation by transferring Grupo Mexico's building contract to the defense secretary.Register now for FREE unlimited access to Reuters.comReporting by Valentine Hilaire; Editing by Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",Mexican president expropriates land for construction of Mayan Train.
"get the free app Updated on: August 1, 2022 / 7:19 PM / CBS News CBS News Live CBS News Live Live President Biden is speaking Monday on what the counterterrorism operation that killed al Qaeda leader Ayman al Zawahiri. Three sources confirmed to CBS News that al-Zawahiri was killed in a U.S. counterterrorism strike in Afghanistan over the weekend.Two intelligence sources familiar with the matter said the strike was carried out by the CIA. A senior administration official said there were no civilian casualties. The president's remarks are slated to begin at 7:30 p.m. ET. Mr. Biden, who is experiencing a rebound case of COVID-19, will be delivering his remarks at a distance from the press at the White House. The strike comes nearly one year after U.S. troops withdrew from Afghanistan.Taliban spokesman Zabihullah Mujahid on Monday confirmed an airstrike conducted by a drone in Kabul. He said the Islamic Emirate of Afghanistan views that as a clear violation of international principles.The Taliban said the strike took place in a residential neighborhood in Kabul. Al-Zawahiri has long been a wanted man. After the Sept. 11, 2001 terrorist attacks, then-President George W. Bush released a list of the FBI's 22 most wanted terrorists, with al-Zawahiri near the top of the list along with Osama bin Laden. For years, al-Zawahiri was known as al Qaeda's No. 2, but many analysts believe he was really the brains behind bin Laden's operation.      Al Qaeda leader Osama bin Laden, left, sits with his adviser Ayman al-Zawahiri, during an interview with a Pakistani journalist at an undisclosed location in Afghanistan for an article published Nov. 10, 2001. Getty Images Bin Laden was killed by U.S. special forces in 2011, but al-Zawahiri eluded attempts on his life and an international manhunt until his death. With al-Zawahiri's death, all of top plotters of the Sept. 11 terrorist attacks are either dead or captured.Zawahiri continued to release video statements, including one on Sept. 11, 2021, although it was unclear if that recording was new or old. It was rumored for years that he had died, and the U.S. offered $25 million for information that could lead to his apprehension. — CBS News' Arden Farhi, Nancy Cordes, Andres Triay, Ahmad Muktar, Pat Milton and Olivia Gazis contributed to this report.   5:21 PM How to watch Biden's remarks What: President Biden addresses a ""successful"" counterterrorism operation in AfghanistanDate: August 1, 2022Time: 7:30 p.m. ETLocation: White HouseOnline stream: Live on CBS News streaming in the player above and on your mobile or streaming device.","Ayman al-Zawahiri, al Qaeda leader, killed in airstrike, Biden speech - watch live."
"Register now for FREE unlimited access to Reuters.comWEST HOLLYWOOD, Calif., Aug 1 (Reuters) - Elvis Presley experts and historians have long known about a collection of jewelry the singer gave to his manager Colonel Tom Parker.Both collectors and fans have spent decades searching for the items, which were thought to be lost. Thanks to Brigitte Kruse, founder and CEO of GWS Auctions, who found and assembled the pieces, they can now be seen together for the first time.Two hundred items, including gold rings encrusted with jewels, cufflinks, watches and chains, will go up for auction on Aug. 27. Also included is the guitar played by Presley during his famous ""comeback"" TV special of 1968.Register now for FREE unlimited access to Reuters.comPresley’s former wife Priscilla worked with Kruse on the collection, although Priscilla does not own any of pieces.""Well, it brings back memories for sure,"" Priscilla Presley told Reuters.A collection of personal jewelry of Elvis Presley & Colonel Tom Parker, that was lost for decades and will be sold at auction in August, at the Sunset Marquis Hotel, in Hollywood, California, U.S., July 28, 2022. The items were part of a lost collection and do not belong to Priscilla Presley. REUTERS/Aude GuerrucciShe added that it was a running joke with her former husband that he constantly bought or commissioned jewelry for Parker because the manager already had everything he needed and the Presleys did not know what else to buy him.Priscilla Presley said she felt protective of the items because she designed some of them, including artifacts with the logo for TCB Band, the musicians who formed the core rhythm section of Presley's backing band in his later years. ""TCB"" stood for ""taking care of business,"" a favorite expression of Presley's.Priscilla Presley supported the auction in part because she was weary of seeing so many fake Elvis artifacts for sale.""There is so much product out there that is not authentic at all and that worries me,"" she said.""I want to know for sure that that is going to go to someone who is going to care for it, love it.""Register now for FREE unlimited access to Reuters.comReporting by Rollo Ross in West Hollywood, Calif.
Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.",Auction house brings together Elvis Presley's ‘lost’ jewelry collection.
"U.S. Senate Majority Leader Chuck Schumer (D-NY) speaks to reporters after the weekly senate party caucus luncheons at the U.S. Capitol in Washington, U.S., June 14, 2022. REUTERS/Sarah Silbiger/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - U.S. Senate Democrats on Monday were awaiting a ruling from the a chamber referee this week on whether they can override the legislature's normal rules to pass a $430 billion drugs, energy and tax bill despite Republican objections.The decision by the referee, officially known as the ""parliamentarian,"" will have a profound impact on President Joe Biden's domestic agenda heading into the Nov. 8 midterm elections, when Republicans are favored to win back control of the House of Representatives and perhaps the Senate amid voter discontent over inflation.Senate Majority Leader Chuck Schumer on Monday confirmed that he planned to begin debate this week.Register now for FREE unlimited access to Reuters.comUnder the ""reconciliation"" procedure Democrats are hoping to use to pass the bill, only a simple majority of votes in the 100-member chamber would be needed to steer the bill towards passage, instead of the 60 needed for most legislation.With the Senate split 50-50 among Democrats and Republicans, the process would allow for passage as Democratic Vice President Kamala Harris could break any tie vote and secure a victory for Biden.The bill being reviewed by the Senate parliamentarian was crafted by Democratic Senator Joe Manchin, who has often stood in the way of key Biden priorities, and with the blessing of Senate Majority Leader Chuck Schumer.Still unknown, however, is whether Democratic Senator Krysten Sinema, like Manchin a maverick in the caucus, will lend her support.A Sinema spokesperson said she was still reviewing the bill and would also wait to see which provisions, if any, the parliamentarian allows to stay in the bill.Without Sinema's vote the entire effort could be doomed, as no Republicans were expected to vote yes on what Democrats are calling the ""Inflation Reduction Act of 2022.""It would provide new federal funding for a significant reduction in U.S. carbon dioxide emissions that contribute to climate change and allow Medicare, the federal health insurance program for the elderly and disabled, to negotiate lower pharmaceutical prices. Tax increases aimed at the wealthy would partially offset the costs, with lower drug prices also saving the government money, the bill's backers say.But Republicans have been attacking the measure, arguing it will violate a Biden pledge to not raise taxes on those earning less than $400,000 annually. Senator Mike Crapo, top Republican on the Senate Finance Committee, criticized the bill as he released an analysis he requested from the Joint Committee on Taxation (JCT), a nonpartisan congressional panel.The JCT report said the bill's tax provisions would indirectly raise the effective tax burden on Americans with incomes of $200,000 or less, by $16.7 billion in 2023.The tax burden effect in the JCT analysis is due to small estimated reductions of incomes from potential wage cuts that could result from companies' higher tax bills, or lower stock values, said Kimberly Clausing, a tax law professor at the University of California-Los Angeles and a former U.S. Treasury tax official.The legislation would raise the tax burden by another $14.1 billion on taxpayers with annual incomes of between $200,000 and $500,000, according to the JCT analysis.Democrats on the finance committee, which oversees tax policy, say the analysis is ""incomplete.""""A family making less than $400,000 will not pay one penny in additional taxes,"" Ashley Schapitl, spokeswoman for the Senate Finance Committee Democrats, said in a statement. ""It doesn’t include the benefits to middle-class families of making health insurance premiums and prescription drugs more affordable. The same goes for clean energy incentives for families.""Register now for FREE unlimited access to Reuters.comReporting by Richard Cowan, David Morgan and David Lawder; Editing by Scott Malone and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.","U.S. Senate Democrats hope for green light on $430 bln climate, drug bill."
"Taliban spokesman Zabihullah Mujahid speaks during a news conference in Kabul, Afghanistan November 10, 2021. REUTERS/Ali KharaRegister now for FREE unlimited access to Reuters.comKABUL, Aug 1 (Reuters) - The United States carried out a drone strike on a residence in Kabul over the weekend, the Taliban's chief spokesman said on Monday.Taliban spokesman Zabihullah Mujahid said in a statement that the attack took place on Sunday and the ruling Islamist extremists strongly condemned it as a violation of “international principles"" and the 2020 agreement on a U.S. troop withdrawal.Register now for FREE unlimited access to Reuters.comReporting by Mohammad Yunus Yawar; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.",Taliban condemns drone strike as violation of U.S. troop withdrawal agreement.
"Global grain shortages will likely last through the end of this year and into next year, AGCO Corp CEO Eric Hansotia told CNBC's Jim Cramer on Monday.""There's just not enough grain in the world, and there won't be for the rest of this year and probably even into next year. We have to have a tremendous harvest this year and next year just to close that gap on the grain gap,"" Hansotia said in an interview on ""Mad Money.""The chief executive said that the agricultural machinery manufacturer has the biggest order bank in its history, up 30% from last year in Europe and up 20% in the United States.The industry's supply and demand gap stems from the same global rebound of demand for products and services following the height of the Covid pandemic. Suppliers weren't able to keep up with demand because of shutdowns, according to Hansotia.Complicating matters is the Russia-Ukraine war's pressure on global grain supplies. However, a ship departed Ukraine for Lebanon on Monday, marking the first passage of a ship carrying Ukrainian grain through the Russia navy-dominated Black Sea since the war's onset, according to Reuters.Hansotia added that while AGCO sees some relief in the second half of the year, challenges still remain.""There's semiconductor chips in essentially everything that we build. And so that's probably our biggest challenge remaining,"" he said.On the flip side, the company expects 30% growth this year in its precision agriculture business as farmers look to innovate.""Farmers have never been under more pressure to produce more, and yet their input costs are up, so they want to do with less inputs … the only way to solve that equation is precision ag and technology,"" Hansotia said.Sign up now for the CNBC Investing Club to follow Jim Cramer's every move in the market.DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer's world? Hit him up! Mad Money Twitter - Jim Cramer Twitter - Facebook - InstagramQuestions, comments, suggestions for the ""Mad Money"" website? madcap@cnbc.com",AGCO CEO says he expects grain shortage to last into next year.
"An employee prepares coffins for incineration in the Meissen crematorium amid the coronavirus disease (COVID-19) pandemic in Meissen, Germany, November 26, 2021. REUTERS/Matthias RietschelRegister now for FREE unlimited access to Reuters.comDACHSENHAUSEN, (Germany) , Aug 1 (Reuters) - Germans more often than not choose to be cremated when they die - which would be a problem if Russia turns off the gas.As Western sanctions heighten tensions between Europe and Moscow, the whole nation is on alert for a possible cut-off of supply by Russian state gas giant Gazprom.Businesses, including crematoriums, are developing contingency plans to cope with rising gas costs and the risk it is unavailable at any price.Register now for FREE unlimited access to Reuters.comSvend-Joerk Sobolewski, Germany's cremation consortium chairman, said in the event of any rationing, the sector should be prioritised because, without gas, most crematoriums cannot function.""You cannot switch off death,"" he said.Of the roughly one million people who die every year in Germany, nearly three quarters are cremated, figures from Germany's undertakers' association show.Compared with other European countries, that is a high percentage, Stephan Neuser, the association's head told Reuters.It stemmed in part, he said, from a tradition in the former east Germany, where nearly all burials were through cremation, and it continued as families that relocate and an ageing population prefer urns to graves that they would be unable to visit and maintain.Longer term, changing from gas to electricity could be an option, but Neuser said that could not happen quickly.In the immediate term, one possibility would be to reduce ovens' average temperature to 750 degrees Celsius (1,382°F) from the current 850C, which could save between 10% to 20% of gas, but he said the measure needed a special permit from states' authorities.Crematoriums are also switching off some ovens, while keeping others running constantly, so they don't cool down and require more gas to be reheated.""In the event of a gas failure, we would be able to continue operating the plants that are hot ... That means we could then continue to work with reduced power,"" Karl-Heinz Koensgen, who manages a crematorium in Dachsenhausen, western Germany, told Reuters.Sobolewski of Germany's cremation consortium said the measure could reduce the amount of gas used by up to 80%, but that not all crematoriums have sufficient demand to justify the model. Cooperation across the sector could help, he said.Germany's environment ministry said in a statement it was working with states' authorities on issuing guidelines for possible minimum temperature exceptions, adding they would be available in the coming weeks.The economy ministry was not immediately available to comment.Register now for FREE unlimited access to Reuters.comReporting by Riham Alkousaa and Erol Dogrudogan; editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.","'You can't switch off death,' German crematorium boss warns as energy crisis looms."
"MoneyWatch August 1, 2022 / 5:46 PM / AP Stocks on Wall Street gave up early gains and closed slightly lower Monday as investors began another busy week of company earnings and economic reports. The S&P 500 gave up an early gain to end down 11.7 points, or 0.3%, to close at 4,118.6. The Dow Jones Industrial Average dipped 46.7 points to 32,708, or 0.1%, and the tech-heavy Nasdaq fell 0.2%. Smaller company stocks also gave back some of their recent gains, nudging the Russell 2000 0.1% lower.Bond yields mostly fell. The yield on the 10-year Treasury, which influences mortgage rates, fell to 2.60% from 2.65% late Friday. August's subdued opening follows a solid rally for stocks last month: July was the best month for the S&P 500 index since November 2020. But this week's array of economic reports and company earnings has left traders ""a little cautious,"" said Lindsey Bell, chief markets and money strategist at Ally Invest.""Investors are still assessing where we break from here – further to the upside or reverse course,"" Bell said. Banks, health care companies and tech stocks were among the biggest weights on the S&P 500. JPMorgan Chase fell 1%, UnitedHealth Group dropped 1.3% and Intuit slid 1.7%. U.S. crude oil prices fell 4.8%, dragging energy stocks lower. Exxon Mobil lost 2.5%.Those losses outweighed solid gains by retailers and consumer products makers. Target rose 1.3% and Procter & Gamble rose 2.9%.Boeing jumped 6.1% for the biggest gain in the S&P 500 after it cleared a key hurdle with federal regulators and could soon resume deliveries of its large 787 airliner. Breaking down the U.S. economy's mixed signals 07:14 Stocks have been falling for much of the year as investors worry about high inflation and rising interest rates. A key concern remains whether central banks will raise interest rates too aggressively and push economies into a recession. The Federal Reserve raised its key short-term interest rate by 0.75 percentage points on Wednesday, lifting it to the highest level since 2018. The goal is to slow the U.S. economy to help temper the impact from inflation. An inflation gauge that is closely tracked by the Fed jumped 6.8% in June from a year ago, the biggest increase in four decades.A surge in oil prices throughout the year only worsened the impact from inflation. U.S. crude oil prices are up roughly 25% in 2022 and that has raised gasoline prices in the U.S. to record levels.A report last week showed that the U.S. economy contracted last quarter and could be in a recession. Stocks' recent rally came as worrisome economic reports gave some investors confidence that the Fed can dial back its aggressive pace of rate hikes sooner than expected.Busy earnings weekSeveral big companies are reporting earnings this week, which will give investors insight into how inflation is impacting businesses and consumers. Construction equipment maker Caterpillar and coffee chain Starbucks report earnings on Tuesday. Pharmacy chain CVS reports earnings on Wednesday.More than half of the companies in the S&P 500 have reported their latest earnings results, which have been mostly better than expected. Many companies have also warned that inflation is hurting consumer spending and squeezing operations. Businesses have been increasing prices in an effort to keep up profits.Wall Street will also get several updates on the job market, which has remained strong. The Labor Department will release its June survey on job openings and labor turnover on Tuesday and its closely-watched monthly employment report for July on Friday. In: Economy Stock Market Gas Prices Inflation","Stocks dip at start of August as earnings and economic reports leave investors ""a little cautious""."
"The logo for Google LLC is seen at the Google Store Chelsea in Manhattan, New York City, U.S., November 17, 2021. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comMILAN, Aug 1 (Reuters) - France, Italy and Spain are stepping up pressure on the European Commission to come up with legislation that ensures Big Tech firms partly finance telecoms infrastructure in the bloc, a document showed on Monday.This was the first time the three governments have expressed their joint position on the issue.EU regulators said in May they were analysing the question of whether tech giants Alphabet's (GOOGL.O) Google, Meta and Netflix (NFLX.O) should shoulder some of the costs of upgrading telecoms networks. read more Register now for FREE unlimited access to Reuters.comIn a joint paper, a copy of which was seen by Reuters, the three governments said the six largest content providers accounted for 55% of internet traffic.""This generates specific costs for European telecom operators in terms of capacity, at a time they are already hugely investing in the most costly parts of the networks with 5G and Fiber-To-The-Home,"" the document said.It urged that European telecom networks and large online content providers pay fair shares of network costs.""We call for a legislative proposal ... ensuring all market players contribute to digital infrastructure costs,"" the document said.Two Italian government officials confirmed details of the joint document. One of them said Rome's government was set to give informal support in its caretaking capacity ahead of a general election in September.The French and Spanish governments did immediately respond to a request for comment.According to a study released by telecoms lobbying group ETNO earlier this year, an annual contribution of 20 billion euros to network costs by the tech giants could give a 72-billion-euro boost to the EU economy.However, digital rights activists have warned making Big Tech pay for networks could threaten EU net neutrality rules, which they feared could be watered down in a deal with online giants to help fund telecoms network. read more Any legislative proposal should ""ensure fairness between users in accordance with the net neutrality rules, which is a core principle we absolutely need to preserve,"" the joint document said.Register now for FREE unlimited access to Reuters.comReporting by Elvira Pollina in Milan and Giuseppe Fonte in Rome; Editing by Valentina Za and Cynthia OstermanOur Standards: The Thomson Reuters Trust Principles.","Exclusive: Big Tech should share Europe network costs, France, Italy and Spain say."
"The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif/File PhotoRegister now for FREE unlimited access to Reuters.comHOUSTON, Aug 1 (Reuters) - The U.S. emergency crude oil stockpile fell by 4.6 million barrels last week to its lowest level since May 1985, according to the Department of Energy on Monday.Crude held in the Strategic Petroleum Reserve (SPR) dropped to 469.9 million barrels for the week ended July 29, according to DOE data, in the smallest weekly withdrawal since May.U.S. President Joe Biden in March set a plan to release 1 million barrels per day (bpd) over six months from the SPR to tackle high fuel prices contributing to soaring inflation.Register now for FREE unlimited access to Reuters.comThe SPR held about 618 million barrels last September and its stocks have declined due to sales from congressional mandates and Biden's price initiative. U.S. gasoline prices are about 40 cents a gallon lower than what they would have been without the sales, the White House said last week.Since May, releases have averaged 880,000 bpd, not meeting the 1 million bpd plan. A DOE spokesperson said the slowdown had occurred because the July 4 holiday and use of an additive to cool crude for transportation had affected some deliveries.The oil is sold to accredited oil companies via online auctions and prices are set using a five-day average bracketing the date of delivery.Oil companies have not always bought all the crude on offer during the Biden administration's release. For instance, the department said that only about 39 million barrels had been bought in a round in which it had offered 45 million barrels. read more The Energy department has proposed to replenish the SPR by allowing it to enter contracts to purchase oil in future years at fixed, preset prices. The administration said it believes the plan would help boost domestic oil production.Refiner Valero Energy's (VLO.N) chief commercial officer, Gary Simmons, last week said he expected lower volumes to be released from the SPR in the future, as demand forecasts had been lowered.Register now for FREE unlimited access to Reuters.comReporting by Arathy Somasekhar in Houston and Timothy Gardner in Washington, D.C.; Editing by Marguerita Choy and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.",U.S. emergency crude stockpile falls to lowest in 37 years.
"Register now for FREE unlimited access to Reuters.comBEIRUT, Aug 1 (Reuters) - Liliane Cheaito's scratchy, laboured breathing went on until a nurse appeared at her hospital bed, where the 28-year-old has spent nearly every moment of the last two years in silent suffering following the Beirut port explosion of 2020.Using a suctioning machine, the nurse emptied her lungs of built-up phlegm and Cheaito's heaving chest finally eased.But the quiet halls of the American University of Beirut's Medical Center – where she has lived since the Aug. 4, 2020 blast - have not shielded her from Lebanon's collapse.Register now for FREE unlimited access to Reuters.comInstead, Cheaito and her family are trapped in their country's multiple crises – from a deteriorating health sector that can no longer treat her to paralyzed government institutions and zombified banks that have frozen her family out of their savings.""Liliane represents the agony of the Lebanese people because she's suffering from all of this,"" her older sister Nassma told Reuters.She sustained severe damage to her frontal brain lobes that left her in a months-long coma and required three surgeries.In July, she uttered her first word in nearly two years – ""mama"" – understood by her siblings to be a cry for her toddler Ali, whom she has not seen since the explosion due to a custody dispute with her husband.Cheaito remains mostly paralyzed. She communicates by squeezing her eyes shut in affirmation or turning her bandaged head away slowly in denial.On good days she can manage a shaky wave with her left hand, linked to an intravenous drip with a half-dozen drugs.They include pain medications and a treatment for epilepsy that her sisters say is not available in Lebanon, where a three-year financial meltdown has hampered imports of many medicines.Her sisters ask friends and acquaintances coming in from abroad to bring the medications, paying for them in U.S. dollars that are hard to access as Lebanon's currency continues its devaluation.Cheaito's room on the ninth floor is stuffy, a small fan unable to clear the summer humidity. Like many homes and offices across Lebanon struggling to cope with cuts in the state grid and skyrocketing fuel prices, the hospital has been rationing its private diesel supply by limiting the hours of central air conditioning.But she will not be there much longer.AUB Medical Center informed the family in February that the in-house charity group covering the costs of Cheaito's stay could no longer afford to do so, and that she would have to move to a specialized rehabilitation center to pursue her treatment.""Those special centers are asking for money, and unfortunately we can't afford it – not even part of it – because our money is in the banks,"" said Nassma.Nassma Cheaito, kisses the hand of her sister, Liliane Cheaito who is mostly paralyzed from August 2020 Beirut port blast, as she lies on hospital bed at the American University of Beirut Medical Center (AUBMC) in Beirut, Lebanon July 26, 2022. REUTERS/Issam AbdallahTheir older sister Nawal has around $20,000 saved in a U.S.-dollar currency account at Bank Audi that she wants to use on a treatment for Liliane.But since the financial crisis took hold in 2019, many of Lebanon's banks have frozen clients out of their hard currency through informal capital controls.They cap monthly cash withdrawals in U.S. dollars and allow other limited amounts to be withdrawn in Lebanese pounds at a rate much lower than the parallel market rate.The banks say the restrictions prevent banking runs, but critics say they do not apply to the rich and powerful.Successive governments have left the financial collapse to fester even as it has impoverished the bulk of the population.The vested interests of ruling factions - which managed to preserve their grip on power in a May election - are widely blamed for obstructing solutions.Cheaito's family and their lawyer claim the restrictions are hampering her recovery as withdrawing the funds at the bank's lower rate would slash their worth.It would ultimately represent an informal haircut of more than 80%, said Fouad Debs, co-founder of the Lebanese Depositors' Union.""Nawal has saved money, and now she needs the money to spend on Liliane but the bank...is not letting Nawal withdraw the money,"" Debs told Reuters.In response to emailed questions from Reuters, a Bank Audi spokesperson said: ""Restrictions are imposed by the Lebanese systemic crisis, not by Bank Audi.""The spokesperson said the bank was generally keen to provide ""exceptional support"" including to pay for medical care and said it ""never refrained from providing (Cheaito) any support it can,"" but did not say whether it had specifically allowed exceptional withdrawals for her family to pay for her care.The depositor's union has filed more than 350 lawsuits against Lebanese banks over the last three years, most of them by clients seeking unrestrained access to their savings for school tuition or healthcare.Some clients have won but many have yet to receive a ruling. Debs said Cheaito's case would be ""one of the most desperate"" – if only they could file the complaint.In another example of how Lebanon's meltdowns have impacted Cheaito, an open-ended strike in the court system means the union has been unable to file a complaint against Bank Audi for the last month.""It's a reflection of the collapse of the whole system,"" Debs said.Register now for FREE unlimited access to Reuters.comReporting and writing by Maya Gebeily; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.","From blast to banking crisis, one woman embodies Lebanon's complete collapse."
"CNBC's Jim Cramer on Monday said the most important data this week is the Bureau of Labor Statistics release of the July nonfarm payrolls report on Friday morning.""If it shows some job growth with no wage inflation, then the fabulous July rally can stand. But if it shows booming hiring with exceptionally large wage increases, then some of this rally, if not much of it, is going to be repealed,"" the ""Mad Money"" host said. Job growth has been strong this year, leading economists to say the U.S. is not in a recession even with two back-to-back quarters of negative GDP. Another strong jobs report could mean the Fed, which took another 75 basis point rate hike in July, will have to take stronger action to slow down the economy and inflation.Cramer also previewed this week's slate of earnings. All earnings and revenue estimates are courtesy of FactSet.Tuesday: Uber, AMD, Starbucks, Airbnb, JetBlueUberQ2 2022 earnings release at tbd time; conference call at 8 a.m. ETProjected loss: loss of 27 cents per shareProjected revenue: $7.36 billionCramer said he believes Uber will always struggle to make money unless it gets ""real"" autonomous vehicles.AMDQ2 2022 earnings release at 4:15 p.m. ET; conference call at 5 p.m. ETProjected EPS: $1.03Projected revenue: $6.53 billionAMD will likely report a strong performance, Cramer predicted.StarbucksQ3 2022 earnings release at 4:05 p.m. ET; conference call at 5 p.m. ETProjected EPS: 77 centsProjected revenue: $8.15 billionCramer said he wants to bet with Starbucks CEO Howard Schultz, not against him.AirbnbQ2 2022 earnings release between 4 p.m. and 4:05 p.m. ET; conference call at 4:30 p.m. ETProjected EPS: 45 centsProjected revenue: $2.11 billionThe company will likely report it's doing well, Cramer said, adding that he believes shares of Airbnb won't go higher unless it turns its cash flow into actual earnings.JetBlueQ2 2022 earnings release at 7 a.m. ET; conference call at 10 a.m. ETProjected loss: loss of 11 cents per shareProjected revenue: $2.45 billionCramer said he believes the Justice Department will block JetBlue's deal to acquire Spirit Airlines.PayPalQ2 2022 earnings release at 4:15 p.m. ET; conference call at 5 p.m. ETProjected EPS: 87 centsProjected revenue: $6.78 billion""If PayPal misses again, this is Elliott's ballgame,"" Cramer said, referring to activist investor Elliott Management's recently acquired stake in the payment platform.Wednesday: CVSQ2 2022 earnings release at 6:30 a.m. ET; conference call at 8 a.m. ETProjected EPS: $2.18Projected revenue: $76.41 billionCramer said he expects the retail giant to report great numbers.Thursday: Eli Lilly, Warner Bros Discovery, DoorDashEli LillyQ2 2022 earnings release at 6:25 a.m. ET; conference call at 9 a.m. ETProjected EPS: $1.70 Projected revenue: $6.85 billionCramer said he believes the success of Eli Lilly's new weight loss drug will help the company report a great quarter.Warner Bros DiscoveryQ2 2022 earnings release after the bell; conference call at 4:30 p.m. ETProjected EPS: 12 centsProjected revenue: $11.85 billionCramer said he believes the company will try to muddle through getting rid of its huge debt load totaling around $55 billion.DoorDashQ2 2022 earnings release at 4:05 p.m. ET; conference call at 6 p.m. ETProjected loss: loss of 21 cents per shareProjected revenue: $1.52 billionCramer said he's unsure whether DoorDash will be able to revive its stock price.Disclosure: Cramer's Charitable Trust owns shares of AMD and Eli Lilly.",Cramer’s week ahead: Jobs report on Friday will make or break July’s rally.
"SummaryBeijing issues firm warning against a Pelosi visit to TaiwanPelosi would be first U.S House Speaker to visit since 1997Asia trip to include Singapore, Malaysia, South Korea, JapanTaiwan was not included on itinerary released SundayTAIPEI/BEIJING, Aug 1 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it wouldn't be intimidated by Chinese threats to never ""sit idly by"" if she made the trip to the self-ruled island claimed by Beijing.Pelosi, who began an Asia trip earlier on Monday in Singapore, was due to spend Tuesday night in Taiwan, three people briefed on the matter said.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans, but the White House - which wouldn't confirm the trip - said she had the right to go. read more Register now for FREE unlimited access to Reuters.comChina's responses could include firing missiles near Taiwan, large-scale air or naval activities, or further ""spurious legal claims"" such as Beijing's assertion that the Taiwan Strait is not an international waterway, White House national security spokesman John Kirby told reporters in Washington.""We will not take the bait or engage in sabre rattling. At the same time, we will not be intimidated,"" Kirby said.Amid widespread speculation over whether she would make a stop in Taiwan, Pelosi's office said on Sunday that she was leading a congressional delegation to the region that would include visits to Singapore, Malaysia, South Korea and Japan. It did not mention Taiwan.One source told Reuters that the United States had informed some allies about Pelosi's visit to Taiwan. Two other sources said Pelosi was scheduled to meet a small group of activists who are outspoken about China's human rights record during her stay in Taiwan, possibly on Wednesday.Chinese foreign ministry spokesman Zhao Lijian said on Monday that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.""China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing. Republican Newt Gingrich was the last House speaker to visit Taiwan, in 1997.PLA VIDEOA video by the People's Liberation Army's Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to ""stand by in battle formation, be ready to fight upon command, bury all incoming enemies.""The White House has dismissed China's rhetoric as groundless and inappropriate.U.S. House of Representatives Speaker Nancy Pelosi shakes hands with Singapore's Prime Minister Lee Hsien Loong in Singapore August 1, 2022. Mohd Fyrol Official Photographer/Ministry of Communications and Information/Handout via REUTERS Kirby said that nothing about Pelosi's possible trip changed U.S. policy toward Taiwan, and that Beijing was well aware the division in powers within the U.S. government meant Pelosi would make her own decisions about the visit.""The speaker has the right to visit Taiwan,"" he told the White House briefing.BIDEN-XI CALLDuring a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait. read more Spokesman for China's embassy in Washington Liu Pengyu struck a measured tone with reporters on Friday, a day after Biden spoke with Xi, saying one of the goals of dialogue was to ease tension over Taiwan.""I think both China and the U.S. don't want a conflict there in the Taiwan Strait,"" Liu said.On Monday, Taiwan Premier Su Tseng-chang did not directly respond when asked whether Pelosi will visit but told reporters visits by ""distinguished foreign guests"" were welcome.Shi Yinhong, an international relations professor at Renmin University in Beijing, said that if Pelosi visits Taiwan it would prompt the strongest counter-measures by Beijing in years, but he did not expect that to trigger major military conflict.""China has reiterated in no ambiguous terms its opposition to Taiwan separatism. The U.S. has reiterated many times its one-China policy has not changed and that it is against any change to the status quo by either side of the Taiwan Strait,"" he said.""Unless by accident, I am sure neither side would intentionally take military action that could lead to a major security risk.""SINGAPORE VISITOn Monday, Pelosi and her delegation met with Singapore Prime Minister Lee Hsien Loong, discussing issues including cross-strait relations, the Ukraine war and climate change, Singapore's foreign ministry said.""PM Lee highlighted the importance of stable US-China relations for regional peace and security,"" it said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now.""Register now for FREE unlimited access to Reuters.comReporting by Chen Lin in Singapore, Yimou Lee in Taipei, Martin Quin Pollard and Yew Lun Tian in Beijing, and Jeff Mason, Michael Martina and Doina Chiacu in Washington; Writing by Tony Munroe; Editing by Simon Cameron-Moore, Chizu Nomiyama and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Pelosi set to visit Taiwan despite China warnings, sources say."
"The Pentagon is seen from the air in Washington, U.S., March 3, 2022, more than a week after Russia invaded Ukraine. REUTERS/Joshua RobertsRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The U.S. State Department has approved the possible sale to Greece of follow-on support for S-70 helicopters for an estimated cost of $162.07 million, the Pentagon said on Monday.Greece's request includes aircraft spares, repair parts, components and accessories to support the helicopters, the Pentagon said.The principal contractor will be Lockheed Martin Corp (LMT.N), it said.Register now for FREE unlimited access to Reuters.comReporting by Eric Beech; editing by Costas PitasOur Standards: The Thomson Reuters Trust Principles.",U.S. State Department OKs potential sale to Greece of follow-on support for helicopters.
"Klamath Interagency Hotshots rest under a tree while waiting for a new assignment as the McKinney Fire burns near Yreka, California, U.S., July 31, 2022. REUTERS/Fred GreavesRegister now for FREE unlimited access to Reuters.comYREKA, Calif., Aug 1 (Reuters) - Two bodies were found inside a burned-out car in the path of a huge northern California forest fire raging near the Oregon border, authorities said on Monday, as crews battling the flames for a fourth day took advantage of rainfall sweeping the area.Since erupting on Friday, the fast-moving McKinney Fire has forced some 2,000 residents to flee while destroying homes and critical infrastructure, mostly in Siskiyou County, home to the Klamath National Forest, according to a statement from Governor Gavin Newsom on Sunday.Authorities have yet to quantify the extent of property losses, but the California Department of Forestry and Fire Protection, or Cal Fire, said in an update posted on Monday that more than 4,500 structures were threatened by flames.Register now for FREE unlimited access to Reuters.comAlready the largest blaze in California this year, the fire has charred 55,493 acres 22,457 hectares) of drought-stressed timber and remained at 0% containment, Cal Fire reported.Two smaller wildfires in the same county that scorched more than 1,700 acres combined as of Sunday and chased at least 200 residents from their homes, Cal Fire said.The two bodies from the McKinney fire were found on Sunday in a car parked in a residential driveway west of the community of Klamath River, the Siskiyou County Sheriff's Office said in a statement on Monday. The agency said it would have no further information about the deaths pending identification and notification of next to kin.EXTREME DROUGHT, HEATThe cause of the blaze was under investigation. But the fire erupted amid record-breaking heat in a region where desiccated trees and undergrowth already had created a highly combustible fuel bed.Prolonged drought and unusually warm weather have stoked increasingly frequent and extreme wildfire behavior in California and elsewhere across the Western United States in recent years, a pattern scientists say is symptomatic of human-induced climate change.Firefighting crews were taking advantage of a low-pressure weather system that brought rain to the northern and eastern flanks of the fire zone on Sunday evening, and continued to douse the region on Monday, U.S. Forest Service spokesperson Adrienne Freeman said.But the same weather system also brings the potential for thunderstorms, and with it erratic winds and lightning strikes.""The one thing we've learned about thunderstorms is we can't predict what's going to happen,"" Freeman said. ""So our crews are out early. They're building containment lines actively on the edge of the fire and they will continue to do that for as long as we can and hope that the conditions we're seeing now hold.""Much of the work carving containment lines, by hacking away unburned vegetation to create a buffer against further spread of the flames, was focused along the Klamath River corridor near the towns of Yreka and Fort Jones, Freeman said.A layer of heavy smoke trapped close to the ground by low pressure, a phenomenon called an ""inversion layer,"" also has helped to tamp down fire growth since Sunday evening, though reduced visibility also limited efforts to deploy aircraft to fight the blaze, according to the Forest Service.""Red flag"" warnings for extreme fire danger remain in effect through Tuesday in much of Siskiyou County, a sparsely populated area larger than the state of Connecticut, as forecasts called for a high chance of ""dry"" lightning strikes capable of igniting new blazes, the National Weather Service said.Newsom declared a state of emergency for Siskiyou County on Sunday, a step that will help residents gain access to federal aid and unlock state resources.Among the fire evacuees was Harlene Althea Schwander, 81, an artist who moved to the area only a month ago to be near her son and daughter-in-law.""I'm very sad. My house is gone, all my furniture, all clothes, shoes, coats, boots. Everything is gone,"" Schwander told Reuters on Sunday outside an American Red Cross evacuation shelter.The McKinney blaze marked the second major wildfire in California this season. The Oak Fire near Yosemite National Park was 67% contained after blackening more than 19,244 acres, Cal Fire said on its website. read more Register now for FREE unlimited access to Reuters.comReporting by Nathan Frandino in Yreka, California; Additional reporting and writing by Steve Gorman in Los Angeles; Editing by Frank McGurty, Nick Zieminski and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.","California forest fire kills 2, rainfall helps fight flames."
"Register now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - U.S. Secretary of State Antony Blinken said on Monday that a potential visit to Taiwan by House of Representatives Speaker Nancy Pelosi would be entirely her decision, but called on China not to escalate tensions in the event of a visit.U.S. Secretary of State Antony Blinken sits on the sidelines prior to his address to the United Nations General Assembly during the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' Delgado""If the speaker does decide to visit and China tries to create some kind of crisis or otherwise escalate tensions, that would be entirely on Beijing,"" Blinken said after nuclear nonproliferation talks at the United Nations.""We are looking for them (China) - in the event she decides to visit - to act responsibly and not to engage in any escalation going forward.""Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Simon Lewis; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.",U.S. looking to China not to escalate tensions in event of Pelosi visit to Taiwan -Blinken.
"Sports August 1, 2022 / 5:14 PM / CBS News British para swimmer Alice Tai won gold at the Commonwealth Games in England on Sunday just months after having her leg amputated. Tai — who clocked a 1:13:64 in the women's 100m backstroke, per CBS Sports — previously said she wasn't sure if she'd be able to compete because of the surgery. ""I didn't think I would be able to race this season,"" she told BBC Sport. ""I'm so grateful that Team England let me come here and compete.""This is her second win in the Commonwealth Games, a competition between members of the Commonwealth of Nations.  — Birmingham 2022 (@birminghamcg22) July 31, 2022 Tai, 23, won gold at the Paralympics as part of a relay in Rio, but withdrew from Tokyo due to an elbow injury.  ""I started and ended last season with surgery and I had to pull out of Tokyo. I then had an amputation in January. I have been learning to walk again this year,"" Tai told Swim England. Tai was born with bilateral talipes, also known as clubfoot, BBC Sport reported. The outlet said she had multiple operations as a child and had been required to use crutches as a mobility aid.  England's Alice Tai celebrates after winning the Womens 100m Backstroke S8 Final at Sandwell Aquatics Centre on day three of the 2022 Commonwealth Games in Birmingham.  Tim Goode/PA Images via Getty Images She decided to have her right leg amputated below the knee in January due to the pain and discomfort, BBC said.  ""I knew if I had the amputation I would have a better quality of life if it went well. It made sense and it was the right time, she told BBC's Access All podcast. ""As a Paralympian, I see amputees all the time with varying degrees of mobility but I know for everyone else it was a big deal,"" she added.  Hi guys! Just a little update 🥰 pic.twitter.com/mLQKplJAfm— Alice Tai PLY MBE (@alice__tai) January 19, 2022 She told the BBC that she thinks her times will improve after the amputation because her stroke is more efficient. Now, she's focused on the next Paralympic Games.""I won relay gold in Rio which is awesome but I really want an individual title in Paris in 2024,"" she said.  In: Swimming Paralympics Jaz Garner Jaz Garner is a producer, culture writer and journalist for CBS News. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Para swimmer Alice Tai wins gold just months after leg amputation.
"An energy installation on a property leased to Devon Energy Production Company by the Catholic Archdiocese of Oklahoma City is seen near Guthrie, Oklahoma September 15, 2015. REUTERS/Nick OxfordRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - U.S. shale companies Devon Energy Corp (DVN.N) and Diamondback Energy Inc (FANG.O) on Monday surpassed estimates for second-quarter profit, joining global oil majors in posting bumper earnings on red-hot energy prices.Oil and gas prices have skyrocketed as sanctions on major producer Russia throttle supply amid a rebound in demand from pandemic lows thanks to economies reopening after restrictions.Benchmark Brent futures have risen more than 140% over the past year and averaged around $114 per barrel during the second quarter, helping U.S. and European heavyweights Exxon Mobil (XOM.N), Chevron (CVX.N), Shell (SHEL.L) and TotalEnergies (TTEF.PA) post record profits. read more Register now for FREE unlimited access to Reuters.comBoth Devon and Diamondback sweetened the pot for investors by announcing higher returns, with Devon raising its quarterly dividend to $1.55 from $1.27 and Diamondback hiking share repurchases by $2 billion to $4 billion.Shares of both the companies inched down in extended trading, after dropping more than 2% in Monday's session that saw oil prices settle 4% lower.Devon and Diamondback also lifted their 2022 production forecasts.Oklahoma-based Devon now expects production to average 600,000 to 610,000 barrels of oil equivalent per day (boepd) this year, up from its previous forecast of 570,000 to 600,000 boepd earlier, due to better-than-expected well performance and its purchase of Williston Basin assets. read more Diamondback said it now expects production to range between 374,000 and 380,000 boepd this year, compared with a previous range of 369,000 to 376,000 boepd.However, acquisitions and inflationary pressures also forced both companies to raise their capital expenditure forecasts.Excluding items, Devon earned $2.59 a share, above analysts' estimates of $2.38 per share, according to Refinitiv data.Diamondback's adjusted earnings of $7.07 per share also beat estimates of $6.58 per share.Register now for FREE unlimited access to Reuters.comReporting by Shariq Khan and Ruhi Soni in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.","Shale cos Devon, Diamondback power past estimates on oil price surge."
"Stock futures were flat in overnight trading after a new month of trading kicked off for the markets.Shares of Pinterest soared more than 21% in extended trading despite disappointing results after Elliott Management revealed it's the largest investor in the social media company.The after-hours moves came as stocks slipped during the first regular trading day of August after all the major averages finished their best month since 2020. The S&P 500 shed 0.28% to end at 4,118.63 while the Nasdaq Composite inched 0.18% lower and closed at 12,368.98. The Dow Jones Industrial Average slipped 46.73 points, or 0.14%, to end at 32,798.40.Seven S&P sectors ended Monday's session in the negative, led by energy which dropped more than 2% as oil prices dipped. Consumer staples closed up 1.2% higher on the day.Despite a strong market bounce in July, to be sure, not all investors are convinced the pain is over. ""I think for sure it remains a bear market bounce,"" Kevin Simpson of Capital Wealth Planning told CNBC's ""Closing Bell: Overtime"" on Monday. ""... I think it was awesome the way the markets traded in July, but I think we're not through any type of capitulation. The headwinds are just too rampant.On the economic data front, investors this week are awaiting the July nonfarm payrolls report slated for release Friday for further clues into the state of the economy and the job market. More earnings data is due out Tuesday with reports from Starbucks, PayPal, Caterpillar, Advanced Micro Devices and more.The upside from here is limited over the next few months, says Truist's LernerInvestors overallocated toward stocks should consider using the current market conditions to trim back their positions as the upside for equities is limited going forward, says Keith Lerner, co-chief investment officer at Truist.According to Lerner, the upside for the market over the next few months is likely capped in the 3% to 5% range, but the downside could exceed that amount.""The market's been very resilient, no doubt, and maybe it stays that way for a little bit, but we don't see the risk-reward as that compelling here,"" he said.This by no means is an indication of the top of the market and equities could squeeze higher, but it is an opportunity to reallocate exposure after last month's strong market rally, Lerner added.-Samantha SubinPinterest shares pop 21% as Elliott Management reveals position as largest investorPinterest shares popped more than 21% after the company posted stronger-than-expected user numbers and Elliott Management revealed it's the largest shareholder in the image-sharing company.Activist investor Elliott said in a statement that it has ""conviction in the value-creation opportunity"" at Pinterest, calling the social media company a ""highly strategic business with significant potential for growth."" ""As the market-leading platform at the intersection of social media, search and commerce, Pinterest occupies a unique position in the advertising and shopping ecosystems, and CEO Bill Ready is the right leader to oversee Pinterest's next phase of growth,"" Elliott wrote.Despite the stock move, Pinterest missed estimates for the second quarter on the top and bottom lines, Monthly active users for the period came in 2 million above estimates.— Samantha Subin",Stock futures are flat after first trading day in August.
"U.S. Secretary of State Antony Blinken makes remarks to the media during a news conference at the United Nations Headquarters in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - U.S. Secretary of State Antony Blinken on Monday called Russia's actions around Ukraine's largest nuclear power plant ""the height of irresponsibility,"" accusing Moscow of using it as a ""nuclear shield"" in attacks on Ukrainian forces.Russia was previously accused of firing shells dangerously close to the Zaporizhzhia plant in March as its forces took it over in the first weeks of the invasion of Ukraine. read more Washington was ""deeply concerned"" that Moscow was now using the plant as a military base and firing on Ukrainian forces from around it, Blinken told reporters after nuclear nonproliferation talks at the United Nations in New York.Register now for FREE unlimited access to Reuters.com""Of course the Ukrainians cannot fire back lest there be a terrible accident involving the nuclear plant,"" he said.Russia's actions went beyond using a ""human shield"" Blinken said, calling it a ""nuclear shield.""The Russian mission to the United Nations in New York did not immediately respond to a request for comment on Blinken's remarks.Ukrainian officials have previously accused Moscow of basing troops and storing military equipment on the grounds of the power station.At the talks on Monday, Ukraine's deputy foreign affairs minister Mykola Tochytskyi said ""robust joint actions are needed to prevent nuclear disaster"" and called for the international community to ""close the sky"" over Ukraine's nuclear power plants with air defense systems.On July 20 Russia accused Ukraine of firing two drones at Zaporizhzhia, which is also the largest nuclear plant in Europe, but said the reactor was undamaged. read more At a U.N. Security Council meeting on Ukraine on Friday, Russia's deputy U.N. Ambassador Dmitry Polyanskiy accused his Western counterparts of ""deliberately"" ignoring the July 20 attack and use of ""explosive-laden drones of foreign manufacture to attack the plant.""Ukraine's state nuclear company Energoatom did not comment on the purported drone impact.The International Atomic Energy Agency (IAEA), the U.N.'s atomic watchdog, should be given access to the plant, Blinken said.""While this war rages on, inaction is unconscionable,"" IAEA Director General Rafael Grossi said on Twitter. ""If an accident occurs at #Zaporizhzhya Nuclear Power Plant in #Ukraine we will not have a natural disaster to blame. We will have only ourselves to answer to.""Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Simon Lewis; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.",U.S. accuses Russia of using Ukraine power plant as 'nuclear shield'.
"Politics August 1, 2022 / 5:42 PM / CBS News The White House is dubbing the projections of a nonpartisan congressional committee that the Inflation Reduction Act would effectively raise taxes for many Americans ""incorrect"" and ""incomplete,"" pointing to benefits in the plan that would offset Americans' pocketbooks.White House press secretary Karine Jean-Pierre dismissed a report from the Joint Committee on Taxation that found that the climate and tax agreement brokered by Senate Majority Leader Chuck Schumer and Democratic Senator Joe Manchin would slightly increase tax rates overall for a number of income groups making less than $400,000. Republicans, who requested the report, have pointed out that President Biden has pledged not to raise taxes on Americans earning less than $400,000. The JCT report considers the indirect effect of a provision in the plan that would impose a minimum tax of 15% on many corporations, which some Republicans said would result in fewer jobs, and more costs that would be passed along to consumers.""The JCT report that we're currently seeing is incomplete because it omits the actual benefits that Americans would receive when it comes to prescription drugs, when it comes to lowering energy costs like utility bills,"" Jean-Pierre said. The plan calls for $369 billion for climate and energy security proposals, as it raises taxes on the country's largest corporations. It also empowers Medicare to negotiate the price of prescription drugs beginning in the year 2023. Democrats say the legislation will reduce the deficit by about $300 million. The report projected that the average tax rate for those earning less than $10,000 would increase from 7.3% under current law to 7.6%, and from 7.8% to 7.9% for those earning $30,000 to $40,000 2023. The tax rate would increase for a number of income categories in that year, according to the JCT. However, by 2031, the JCT surmises the tax rate would be almost exactly the same as it is under present law for all income groups.  The White House has long argued that it is the bottom line of a family's budget that matters when proposing potential spending packages. Jean-Pierre on Monday took issue with a budget model from the Wharton School of the University of Pennsylvania, which estimates the plan would reduce deficits by $248 billion over the budget window, slightly increase inflation until 2024, and decrease inflation after that. ""We agree with Senator Manchin, you heard him a couple times yesterday, and disagree with Penn Wharton, as do a number of qualified experts,"" she said. Manchin, appearing on CBS News' ""Face the Nation"" Sunday, insisted that when it comes to corporations, the proposal doesn't increase taxes. Manchin said that instead, the proposal closes tax loopholes by imposing a 15% minimum tax on corporations with profits of at least $1 billion.  ""This is a fairness in closing a loophole,"" Manchin said. ""So, I'm not raising any taxes."" Kathryn Watson Kathryn Watson is a politics reporter for CBS News Digital based in Washington, D.C. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",White House dismisses congressional report that Schumer-Manchin plan would raise taxes.
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - Al Qaeda leader Ayman al-Zawahiri has been killed in a CIA drone strike in Afghanistan, U.S. officials told Reuters on Monday, the biggest blow to the militant group since its founder Osama bin Laden was killed in 2011.One of the officials, speaking on the condition of anonymity, said a drone strike was carried out by the CIA in the Afghan capital Kabul on Sunday.In a statement, Taliban spokesman Zabihullah Mujahid confirmed that a strike took place and strongly condemned it, calling it a violation of ""international principles.""U.S. President Joe Biden will deliver remarks on Monday at 7:30 p.m. (2330 GMT) on what the White House described as a ""successful counter-terrorism operation."" read more Register now for FREE unlimited access to Reuters.comReporting by Idrees Ali; Editing by Leslie Adler and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Al Qaeda leader Zawahiri killed in CIA drone strike, U.S. officials say."
"get the free app Updated on: August 1, 2022 / 5:35 PM / CBS News CBS News Live CBS News Live Live President Biden is delivering remarks Monday night on what the White House is describing as a successful counterterrorism operation. A senior administration official said the U.S. conducted a successful counterterrorism operation against a ""significant al Qaeda target in Afghanistan."" The official said there were no civilian casualties. The president's remarks are slated at 7:30 p.m. Mr. Biden, who is experiencing a rebound case of COVID-19, will be delivering his remarks at a separated distance from the press at the White House. Taliban spokesman Zabihullah Mujahid on Monday confirmed an airstrike conducted by a drone in Kabul. He said the Islamic Emirate of Afghanistan views that as a clear violation of international principles.  — CBS News' Ahmad Muktar contributed to this report.   30m ago How to watch Biden's remarks What: President Biden addresses a ""successful"" counterterrorism operation in AfghanistanDate: August 1, 2022Time: 7:30 p.m. ETLocation: White HouseOnline stream: Live on CBS News streaming in the player above and on your mobile or streaming device.","Watch Live: Biden speaks on ""successful"" counterterrorism operation against al Qaeda target."
"Chinese Ambassador to the United Nations Zhang Jun addresses a meeting of the United Nations Security Council on Russia's invasion of Ukraine, at the United Nations headquarters in New York City, New York, U.S., April 19, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - China's envoy to the United Nations said on Monday that a visit by U.S. House of Representatives Speaker Nancy Pelosi to Taiwan would undermine China-U.S. relations.China's U.N. ambassador Zhang Jun also told a briefing that such a visit by Pelosi would be provocative, and not comparable to the last time a U.S. House speaker visited the island claimed by Beijing in 1997.Pelosi was set to visit Taiwan on Tuesday, three sources said, as the United States said it would not be intimidated by Chinese threats to never ""sit idly by"" if she made the trip. read more Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Michael Martina; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.",China's U.N. envoy says Pelosi visit to Taiwan would undermine U.S./China ties.
"1,171 episodes Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to deliver the actionable news that matters most to investors. Fast Money airs weeknights at 5p ET on CNBC. Visit http://fastmoney.cnbc.com for additional information. Hosted by Melissa Lee and a roundtable of top traders, “Fast Money” breaks through the noise of the day, to deliver the actionable news that matters most to investors. Fast Money airs weeknights at 5p ET on CNBC. Visit http://fastmoney.cnbc.com for additional information. JUL 29, 2022 Stocks Round Out Best Month Since 2020, But Can the Momentum Continue 7/29/22 Stocks Round Out Best Month Since 2020, But Can the Momentum Continue 7/29/22 The S&P jumped more than 9% in July, the Nasdaq up over 12%, and some individual stocks saw gains much bigger than that. So with Big Tech earnings and the Fed now behind us, can the momentum continue in August? Plus a look at some of the names that didn’t fare so well recently, and breaking down next week’s big earnings reports. JUL 28, 2022 Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22 Breaking Down the Moves in Apple and Amazon, Plus What the Latest GDP Read Means For Your Money 7/28/22 Two of the biggest companies in the world reported earnings after the bell. The traders break down what the reports say about the consumer, the economy and inflation. Plus U.S. GDP fell for a second straight quarter. Whether that amounts to a recession or not, it’s having a big impact on the stock markets. We dive into how to play the moves. JUL 27, 2022 All Eyes on Meta, Ford and the Fed 7/27/22 All Eyes on Meta, Ford and the Fed 7/27/22 Shares of Meta and Ford both on the move after the companies’ latest earnings reports. We break down the numbers and bring you all the trades. Plus the Fed raised rates and by 75 basis points for the second straight meeting, but said the pace of rate hikes could slow. That sent stocks higher, and gave the Nasdaq its best day since April 2020. Was that the green light for the growth trade? JUL 26, 2022 : Big Tech Earnings Week Gets Underway with Alphabet and Microsoft 7/26/22 : Big Tech Earnings Week Gets Underway with Alphabet and Microsoft 7/26/22 The busiest week of Q2 earnings season kicks off with reports from two of the biggest names in tech. We break down the results at get a look at what you should expect from the names still to come. Plus, the Fed expected to raise rates by another 75 basis points tomorrow, as the Biden administration tries to shoot down talk of a recession. What it all means for the markets. JUL 25, 2022 The Reports That Hold the Key to Earnings Season, and the NFL’s Big Move Into Streaming 7/25/22 The Reports That Hold the Key to Earnings Season, and the NFL’s Big Move Into Streaming 7/25/22 From the dollar to inflation to supply chain, the busiest week of this earnings season could give a lot of important reads on the market. The traders break down what they’re hoping to hear. Plus, details on the new NFL+ streaming service and what it means for the sector. JUL 22, 2022 Countdown to an $8T Earnings Week and Is a Great Rate Breakdown Coming? 7/22/22 Countdown to an $8T Earnings Week and Is a Great Rate Breakdown Coming? 7/22/22 Big tech stocks set to report Q2 earnings next week and it could set a new tone for how the market moves for the rest of the year. We break down what to expect and what to brace for. Plus 10-year yields falling to their lowest level since May, and the Chart Master says there’s even more pain to come. Where he sees rates going from here. Customer Reviews 3.9 out of 5 1.1K Ratings Great if you miss the show I listen to this and Half-Time Report regularly. Melisa Lee is great. I think she is very good at facilitating. Can you please upload your episodes in a timely fashion like Mad Money or Half Time does? As title shows Guest Guy is so rude Show director should correct Guy Dami’s behavior! Or just remove him out!!! Stop letting him bullying host Mel! So arrogant! Again and again! Plus, he is always wrong and useless! Let’s just remove him out! Let’s see if CNBC needs him or he relies on CNBC! Who does he think he is! Too Ugly behavior on TV! Top Podcasts In Business You Might Also Like More by CNBC","‎CNBC's ""Fast Money"" on Apple Podcasts."
"U.S. President Joe Biden delivers remarks at the White House in Washington, U.S., July 28, 2022. REUTERS/Elizabeth Frantz/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - U.S. President Joe Biden will deliver remarks on Monday evening on what the White House described as a ""successful counter-terrorism operation"".His remarks were scheduled for 1930 ET (2330 GMT), according to the White House.A senior U.S. official told Reuters that over the weekend, the U.S. conducted a successful operation against a ""significant Al Qaeda target"" in Afghanistan. There were no civilian casualties in the operation, the official added.Register now for FREE unlimited access to Reuters.comReporting by Jeff Mason and Costas Pitas; writing by Kanishka SinghOur Standards: The Thomson Reuters Trust Principles.",Biden to speak on 'successful counter-terrorism operation' on Monday evening.
"MoneyWatch August 1, 2022 / 3:50 PM / MoneyWatch Pandemic may be fueling rise in retail thefts Some experts say pandemic is partially to blame for rise in organized retail thefts 04:34 Some New Yorkers are resorting to theft as inflation lifts the cost of everyday goods, including food. Drugstores in parts of New York City are on high alert amid a rise in shoplifting and are increasing security measures to stop theft. Cans of Spam, a cooked pork product that retails for $3.99 per 12-ounce tin, appeared to be encased in an antitheft container at a Duane Reade store in Manhattan, according to a customer who shared an image of the loss-prevention device on Twitter.  The thoroughly revamped loss-prevention regime at the Port Authority Duane Reade has finally created something of beauty, a sort of Jeff Koons homage. pic.twitter.com/gtlpzY2l9G— willy 🌜💧 (@willystaley) July 28, 2022 Cans of Celebrity brand ham, which retails for $3.49, were also encased in plastic, according to a customer tweeted an image of the product.   I'd love to have one to keep, case and all — but there's only one way to do that... pic.twitter.com/PX3dbSd52B— willy 🌜💧 (@willystaley) July 28, 2022 In June, the consumer price index rose 9.1% in from a year earlier, the highest inflation in more than 40 years.  The COVID-19 pandemic has also led to a rise in retail crime, due in part to the increase in online shopping. Thieves have become more brazen in stealing from stores because they can sell items online, experts have said. Walgreens, which owns Duane Reade, did not immediately reply to CBS MoneyWatch's request for comment. In May, New York Mayor Eric Adams and Attorney General Letitia James announced the arrest of 41 people who were allegedly part of a crime ring that stole thousands of items from drugstores, along with luxury clothing and goods.stole luxury clothing and goods and thousands of items from drug stores that were then resold on eBayWhile locking up popular items in stores is one way to prevent theft, it can also deter consumers who don't have the patience to flag down a salesperson to unlock the item they wish to purchase. ""Retailers do all sorts of things to protect product, but even when merchandise is locked up it hurts sales because they don't have the manpower to unlock things for customers,"" Tony Sheppard, the head of loss prevention at ThinkLP software, told CBS MoneyWatch.  Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",New York City stores are locking up Spam and other foods amid shoplifting surge.
"Designer491 | Istock | Getty ImagesThe U.S. Department of Education is expected to lose close to $200 billion from federal student loans made over the last 25 years, due in part to pandemic-era relief pausing the bills for borrowers.Originally, the Education Department estimated these loans would generate around $114 billion in income; they will, however, actually cost the federal government $197 billion, according to the Government Accountability Office, a federal watchdog.A large share of the additional costs stem from the Covid pandemic-era pause on most federal student loan payments first enacted under the Trump administration and then continued by President Joe Biden. As a result, most federal student loan borrowers haven't made a payment on their debt in more than two years, and interest hasn't accrued on their balances in the meantime.More from Personal Finance:The best money moves after the Fed's major interest rate hikesWhat advisors are telling their clients as recession fears growHow to make your resume stand out in 'Great Reshuffle'Given that policy, higher education expert Mark Kantrowitz said, the GAO's findings were far from surprising.""There have been several changes to the federal student loan programs, including the payment pause and interest waiver, that have increased the cost of the program, swinging it from a profit to a loss,"" Kantrowitz said.The other changes to the federal student loan system that are likely to increase costs include the suspension of collection activity, another pandemic-related relief measure, and revised estimates to how much borrowers will pay down their debts.The GAO analysis found that loans made between 1997 and 2021 are expected to cost the government almost $9 for every $100 disbursed. That's a big difference from the government's expectation that the loans would generate $6 for each $100 lent.The Education Department did not immediately respond to a request for comment.Student loan system woes predate pandemicStefani Reynolds | Afp | Getty ImagesBefore the pandemic, when the U.S. economy was enjoying one of its healthiest periods, problems still plagued the federal student loan system.More than 40 million Americans were in debt for their education, owing a cumulative $1.7 trillion, a balance that far exceeds outstanding credit card or auto debt. Average loan balances at graduation have nearly tripled since 1980, from around $12,000 to more than $30,000 today. A quarter of borrowers — or more than 10 million people — were in delinquency or default. These grim figures have led to comparisons to the 2008 mortgage crisis. The Biden administration is currently considering forgiving some portion of student debt, and most recently was reported to be leaning toward $10,000 in relief for most borrowers. The price tag of such a move would depend on the fine print, but could cost the government another $321 billion.","The federal government had expected $114 billion income on student loans. But it could lose $197 billion, watchdog finds."
"Register now for FREE unlimited access to Reuters.comAug 1 (Reuters) - South Africa has seen an increase in the number of rhinos illegally killed for their horns in the first half of 2022, as poachers shifted to hunting in private parks, the country's environment ministry said on Monday.Ten more rhinos were poached countrywide than in the first half of last year, taking the total to 259. Poaching in South Africa had already risen last year after a fall in 2020 linked to COVID-19 restrictions.South Africa accounts for about half of the total endangered black rhino population on the African continent and is also home to the world's largest population of white rhinos, whose status is ""near-threatened"" rather than endangered.Register now for FREE unlimited access to Reuters.comConservation efforts and vigilance have increased in the world-famous Kruger National Park, leading poachers to shift to hunting in private parks and the KwaZulu-Natal province, data from the ministry showed. Rhinos seen at the Buffalo Dream Ranch, the biggest private rhino sanctuary in the continent, in Klerksdorp, South Africa's North West Province, September 6, 2021. REUTERS/Siphiwe Sibeko/File Photo""Recent trends in rhino poaching show a move away from the Kruger Park to private reserves and KwaZulu-Natal, where the majority of rhinos have been killed this year,"" Environment Minister Barbara Creecy said in a statement.South Africa-born cricket star and rhino conservationist Kevin Pietersen told Reuters it was ""catastrophic"" to see the decline in numbers.The former captain of the England national cricket team founded the charity SORAI or Save our Rhino Africa/India, which rescues abandoned, injured or orphaned rhinos.Rhino poaching often involves both local poachers and international criminal syndicates, who smuggle the horns across borders. The ministry said demand is particularly high in Asia.""We're staring at one of Africa's Big Five going extinct if we don't pause this serious situation somehow,"" Pietersen said, referring to the five high-profile African species best known to tourists, also including elephant, buffalo, lion and leopard.Register now for FREE unlimited access to Reuters.comReporting by Bhargav Acharya in Bengaluru; Editing by Barbara Lewis and David HolmesOur Standards: The Thomson Reuters Trust Principles.",Poachers kill more rhinos in South Africa to meet Asian demand.
"Politics August 1, 2022 / 5:02 PM / CBS News GOP's chances of gaining House control CBS News Battleground Tracker: GOP poised to take control of House in November 06:03 Tuesday's primaries are among the busiest in the 2022 midterm primaries. Five states in total are holding primaries (Arizona, Michigan, Missouri, Kansas and Washington). From more ways to gauge how much sway an endorsement from former President Donald Trump has, to direct ballot measures about abortion access, to the last remaining House Republicans who voted to impeach Trump.Here are some of the races to watch: Arizona Senate & GovernorThe Arizona GOP primary for senate, governor, and secretary of state on Tuesday are a major test of Trump's influence over the Republican Party. Republican Voters will be picking their nominees but the future direction of the GOP is also at stake. And Tuesday's results from Arizona could be a preview of the conservative brand that may take center stage in the 2024 presidential election. In the Senate, Trump has backed 35-year-old Blake Masters, a venture capitalist who was  the chief operating officer of Thiel's investment firm, Thiel Capital, and the president of Thiel's foundation. Theil has spent at least $15 million to support Masters, according to filings with the Federal Election Commission.   Arizona Republican U.S. Senate candidates Jim Lamon, left, Mick McGuire, second from right, and Blake Masters, right, pose for a photograph with moderator John Bachman, second from left, prior to the Arizona Republican Senate primary debate hosted by Newsmax at the Madison Center for The Arts Wednesday, July 13, 2022, in Phoenix. Ross D. Franklin / AP Masters' primary opponents include businessman Jim Lamon, retired U.S. Air Force Maj. Gen. Michael McGuire and Arizona Attorney General Mark Brnovich.  Two polls this week indicate Masters has a comfortable lead going into Tuesday's primary. That lead has continued to grow since Trump endorsed Masters in late June. A poll of likely Republican voters from OH Predictive on Sunday morning showed Masters at 36% with businessman Jim Lamon at 21% and Brnovich at 12%.That mirrors Sunday's Emerson poll, which also had Masters leading the pack with 40% of the support followed by 22% for Lamon and 14% for Brnovich.   Lamon told CBS News on Monday that ""Democrats are paying"" for Masters to win the primary. ""Democrats would love to run against Masters, they'll beat him like a drum,"" Lamon said. The businessman aligns with Trump on conservative issues but said the former president ""absolutely"" made a mistake endorsing Masters over him. The winner of Tuesday's Senate primary will take on incumbent Democratic Sen. Mark Kelly, a former astronaut whose seat is a top target for Republicans. Kelly has raised over $55.8 million this cycle and has about $25 million cash on hand.  In the GOP race for governor, former TV news anchor Kari Lake and lawyer Karrin Taylor Robson are in a tight contest that repeats a dynamic between Trump and former Vice President MIke Pence. Trump has backed Lake, while Pence, along with term-limited sitting Governor Doug Ducey, have backed Taylor Robson. Last month, Trump and Pence held dueling rallies for Lake and Robson on the same day.  This combination of photos shows from left, Republican candidates for Arizona governor Karrin Taylor Robson and Kari Lake prior to an Arizona PBS televised Republican debate June 29, 2022, in Phoenix. Arizona  Ross D. Franklin / AP While Lake has led in a majority of the polls, an Emerson College poll on Sunday showed a ""dead heat"" between the two, with Lake just up by one percentage point. Trump backed Lake early and visited the state twice to support her. Some Republican voters in Arizona say they are only backing Trump-endorsed candidates this cycle.Fred Warden, a fire pilot from Tucson, told CBS News that Trump's endorsement of statewide candidates is a ""big factor"" for him. ""I wouldn't vote for anybody that he hasn't endorsed,"" Warden said before a joint Lake and Masters rally on Sunday.Donna Hale, a dietician from southern Arizona, said the former president ""started a populist movement that helped to wake up the average American,"" and she added that she hopes Trump runs again in 2024.Democrats will choose between Secretary of State Katie Hobbs and Marco Lopez, a businessman and former chief of staff at Customs and Border Protection. Missouri Senate: Trump endorsement coming Whether Missouri Republicans elect former Gov. Eric Greitens, who resigned after a sex scandal in 2018 and has faced claims of domestic abuse by his ex-wife, in Tuesday's primary or another GOP candidate could determine how competitive this reliably Republican state is in November.Greitens is part of a crowded field of 21 GOP nominees looking to replace retiring Republican Sen. Roy Blunt. Attorney General Eric Schmitt has recently been leading in polls, with Rep. Vicky Hartzler at second, Greitens behind her and Rep. Billy Long at fourth. Schmitt and Hartzler have highlighted the domestic abuse allegations against Greitens, and called on him to drop out of the race. Greitens has denied the allegations. The former governor led in polls as recent as June. But over $11 million on advertisements has been spent by anti-Greitens groups, such as the ""Show Me Values PAC"" or the ""Save Missouri Values PAC,"" whose donors include Theil.  From top left: Eric Schmitt, Vicky Hartzler, Billy Long, Eric Greitens. AP Photo/Jeff Roberson, AP Photo/Lauren Victoria Burke, Greg Nash/Pool via AP Filek, AP Photo/Jeff Roberson ""I wanted to protect our children because I was afraid of what Eric [Greitens] would do,"" one ad, which uses a vocal reenactment of the affidavit by Greiten's ex-wife. Greitens' campaign has called the ad blitz a ""smear"" campaign and characterized it as a battle between ""MAGA"" and Senate Majority Leader Mitch McConnell in a post last week. His campaign has also referred to his wife as a ""deranged individual.""""Anti-Trump establishment insiders are spending to the tune of $11 million to smear the undoubted MAGA champion in the Missouri Senate race: Navy SEAL Eric Greitens,"" the post reads.There's a potential wildcard in this race — a last-minute Trump endorsement. While he has stayed out of the race so far, he said Monday morning he would endorse ""sometime today!"" On the Democratic side, former Marine Lucas Kunce and Trudy Busch Valentine, a philanthropist with ties to the Anheuser-Busch brewery, are in a tighter-than-expected primary. A late July poll by Emerson College and The Hill has Busch Valentine ahead of Kunce by four points.One other candidate to watch in November is John Wood, who was the senior investigative counsel for the Jan. 6 committee. He submitted over 22,000 signatures on Monday to get his name on the ballot as an independent candidate, according to the Kansas City Star.Michigan Governor: The primary to take on WhitmerA dysfunctional Republican primary to take on Democratic Gov. Gretchen Whitmer, who has been seen as vulnerable in November, will come to an end on Tuesday. In May, a court threw out multiple leading candidates due to petition signature fraud, including former Detroit Police Chief James Craig. Five Republicans made it to the final ballot. Trump made a splash last Friday when he backed former actress and conservative activist/anchor Tudor Dixon, who had been holding a lead in recent polls and has been seen by Republican strategists as a strong candidate to take on Whitmer in November. But Kevin Rinke, whose fortune from his family's automotive group has allowed him to spend $6.5 million on ads, has hammered Dixon for not being Trumpy enough and for having the support of former Trump-era Education Secretary Betsy DeVos. On Sunday, his campaign hit Dixon for being noncommittal on a question about whether she believes the 2020 election was stolen. Ryan Kelley, a Jan. 6 attendee who was arrested by the FBI in June, has often placed third or fourth in the polls behind Dixon and Rinke. He and Garrett Soldano, a chiropractor who started an anti-Whitmer Facebook group during the pandemic, are seen as the ""grassroots"" candidates by local Republicans. Facebook shut the group down after repeated violent threats to Whitmer. But all the candidates oppose Whitmer's handling of the COVID-19 pandemic, often bringing it up during debates and in advertisements.  The Supreme Court's Dobbs decision on abortion access could also play a huge role in this race in November. Whitmer is currently engulfed in court battles to prevent a 1930-era abortion ban from taking effct. It allows no exceptions except to save the life of the child bearer. Planned Parenthood's Michigan chapter lost a case in the state's Court of Appeals on Monday morning over the ban. The court's ruling allows county prosecutors to begin enforcing the 1931 ban.All of the GOP candidates support the ban.Whitmer, a prolific fundraiser in her first term, has already spent $9.7 million on ads attacking Republicans in the primary. ""Put Michigan First,"" an organization propped up by the Democratic Governors Association, has been the top spender with $23.3 million spent on ads supporting Whitmer, or in a continuation of their strategy in other hostile GOP primaries, hitting a specific GOP candidate (Dixon) to create more space for their preferred general election challengers to win the primary. Arizona and Michigan — election deniers poised to win primaries to be their state's top election officialIn two of the battleground states that flipped from Trump to President Joe Biden in the 2020 election, the race for secretary of state, the top election official, is on the minds of Trump and other who believe that election was ""stolen.""In Arizona, State Rep. Mark Finchem, a member of the far right Oath Keepers who helped organize the ""#StopTheSteal"" movement in Arizona, is running on a platform of outlawing early voting. Finchem was endorsed by Trump in Sept. 2021.Both he and another primary candidate, state Rep. Shawnna Bolick, believe the Arizona legislature should be empowered to overturn the will of the voters and choose its own presidential electors and revoke election certifications. They are facing down two other Republican candidates, state Rep. Michelle Ugenti-Rita and businessman Beau Lane, who don't believe in election conspiracies but still support stricter voting requirements. Democrats have two candidates: Maricopa County Recorder Adrian Fontes, a controversial figure who went against Hobbs' office's counsel and sent Democratic primary ballots to registered partisans who didn't request them, and Arizona House Minority Leader Reginald Bolding, who has more buy-in from the state party.In Michigan, there is no primary to choose the position; instead the state's respective parties vote for their preferred candidate. Kristina Karamo, the likely GOP nominee in November, was a poll watcher in 2020 who signed an affidavit claiming she had witnessed voter fraud during the ballot counting in Detroit. Her claim has been debunked. She signed onto a lawsuit to overturn Biden's 154,188 vote win in 2020 and called for a ""forensic audit"" of the election. She will face Democratic incumbent Jocelyn Benson, who helped institute dropping the state's requirement that voters have an excuse in order to obtain a mail ballot, the result of a 2018 ballot measure. Benson sent all registered voters a ballot, which prompted the criticism of Trump and Republicans.  Arizona state Senate's 10th District: GOP House Speaker Rusty Bowers faces party revolt in his bid for state SenateArizona GOP House Speaker Rusty Bowers, following his decision to testify before the House select committee investigating the Jan. 6 Capitol attack, is facing a revolt from his party. He's term-limited out of his House seat, and is instead running for state Senate. While typically such a prominent Republican leader might easily win a primary contest, Bowers' case is different.  Rusty Bowers, Arizona state House Speaker, testifies as the House select committee investigating the Jan. 6 attack on the U.S. Capitol continues to reveal its findings of a year-long investigation, at the Capitol in Washington, Tuesday, June 21, 2022. Jacquelyn Martin / AP Days away from the primary election, the Arizona GOP voted to formally censure the leader for his testimony, a culmination of the frustrations many far-right members have with Bowers' past refusals to support Trump-backed attempts to overturn the 2020 election. This year, for instance, Bowers helped block a bill, introduced by now-Secretary of State candidate Rep. Shawnna Bolick, that empowered the legislature to choose its own electors, regardless of how the people voted. For his actions, the former president lashed out against him, calling the Speaker a ""RINO coward,"" and endorsed his opponent, former state Sen. David Farnsworth.Abortion on the ballot in KansasSharing the ballot with the GOP gubernatorial primary on Tuesday is Kansas' ""Value Them Both Amendment,"" where a ""yes"" vote would affirm the lack of a constitutional right to abortion in Kansas and enable the GOP-led legislature to pass new laws restricting or banning abortion access. A ""no"" vote against the amendment upholds the right to an abortion in the state. Kansas voters to decide if abortion should remain constitutionally protected in the state. AP Photos/John Hanna As of the morning of Saturday, 244,990 ballots have been cast early, including 111,400 Republicans, 96,871 Democrats and 35,450 independents both with returned mail in voting and early in person voting, according to Kansas' Secretary of State office. In 2018, 70,575 voters cast a ballot early. Kansas Governor Tuesday's primary will finalize the matchup between incumbent Democratic Governor Laura Kelly and Republican Attorney General Derek Schmidt. Republicans are eager to oust Kelly, a former state senator who  won her race in 2018 by focusing on education and riding on a wave of economic animosity towards outgoing Republican Governor Sam Brownback and his failed economic policies.House primaries: Test of lawmakers who voted to impeach TrumpThree of the 10 House Republicans who voted to impeach Trump are on the ballot Tuesday: Peter Meijer of Michigan's 3rd District, Dan Newhouse of Washington's 4th District and Jamie Herrera-Beutler of Washington's 3rd District. A majority of those 10 House Republicans are out– four retired before their primaries and one, Rep. Tom Rice of South Carolina, lost his primary against a Trump-backed challenger. Meijer, a freshman Republican in a swing district centered around Grand Rapids, Mich., is in a tough race against John Gibbs, a former Trump-era Housing and Urban Development official.An internal poll from Gibbs campaign from mid-July showed him with an 18-point lead over Meijer. That number grows after voters are told of Trump's endorsement of Gibbs. But, Meijer has easily led in fundraising, $2.7 million raised this cycle compared to Gibbs' $484,000.Meijer and allies argued that Gibbs would be a terrible GOP nominee who would put the seat at risk, due to his extreme stances on abortion and the 2020 election, particularly since  redistricting has pushed the district west, making it slightly more Democratic. Hillary Scholten, an attorney who lost to Meijer by 6 points in 2020, is running unopposed in the primary this year. Outside involvement from the Democratic Congressional Campaign Committee suggests Meijer is right, and Democrats agree with him that Gibbs is the weaker candidate. The DCCC, in a similar trend to other Democratic groups advertising in GOP primaries, spent at least $410,000 on an ad calling Gibbs ""too conservative"" for the district at the same time it touts his policies likely to be popular with Republican primary voters.  The approach has been panned already by a notable number of House Democrats and Meijer, who called Democrats hypocritical in an op-ed Monday and noted that the DCCC's buy is more than what Gibbs has raised throughout the campaign. Meijer has received some outside help on his end too: the House GOP-backed Congressional Leadership Fund has spent at least $1.83 million on ads and House Minority Leader Kevin McCarthy donated $10,000 to Meijer's campaign through an affiliated PAC. In Washington, Newhouse and Herrera-Beutler are navigating the state's primary system, where the top two vote getters, regardless of party affiliation, move on to the general election in November. Both are facing Trump-backed challengers and face a risk of being shut out due to Trump-backed challengers. For Newhouse, he has to beat 2020 gubernatorial candidate Loren Culp. Herrera-Beutler has three Trump-like challengers, with former U.S. Army Green Beret Joe Kent as Trump's pick. ""Others are trying to say they have my endorsement and they absolutely don't. I don't even know them,"" Trump said in a telerally for Kent. Multiple candidates could split the Trump base, which could  help Herrera-Beutler in the 3rd District, where the Democratic candidate has earned enough of the vote to make it to the November election in the last five primaries. Other races to watch:Michigan's 11th District's Democratic primary: Two Democratic incumbents are in a primary for this seat northwest of Detroit in Oakland County. Rep. Haley Stevens has the familiarity edge over Rep. Andy Levin, since close to half of her old district remains the same under the new lines. Stevens has also been supported on the airwaves by pro-Israel PACs with ties to Republicans, a frequent complaint this Democratic primary cycle by more progressive candidates and organizations. Arizona's 2nd District Republican primary: The open GOP primary has a continuum of election deniers making their case for the seat: On one end, Ron Watkins, a Qanon conspiracy theorist and the developer behind 8kun, argued during a recent debate that Congress should have decertified the results and must investigate the 2020 election. On the other small business owner Andy Yates said he doesn't believe the 2020 election was stolen and wants to ""move on"" from the two-year-old contest. Between them, Arizona state Rep. Walt Blackman believes the results to have been stolen, yet rejects the idea that election results may be decertified . Any one of the three could move on to face incumbent Democratic Rep. Tom O'Halleran. Washington's 8th District: Democrat Rep. Kim Schrier's seat is a top target for House Republicans. But the party still has to pick their nominee in November: either councilman Reagan Dunn, 2020 GOP nominee Jesse Jensen or former George W. Bush aide Matt Larkin. Kansas' 3rd District: Republican-led redistricting in Kansas has made Democratic Rep. Sharice Davids' more vulnerable to flip in November. 2020 nominee Amanda Adkins will first have to get past veteran John McCaughrean. On the primary ballot in Kansas is a vote on restricting abortion access, which Adkins has backed. Sarah Ewall-Wice contributed to this article Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",2022 midterm primaries: What races to watch on August 2.
"Xi Jinping, vice president of China, left, meets with U.S. Vice President Joe Biden in the Roosevelt Room at the White House in Washington, D.C., Feb. 14, 2012.Chip Somodevilla | Bloomberg | Getty ImagesWASHINGTON — The Biden administration faces a legal deadline at midnight to defend former President Donald Trump's China tariffs, even as the White House considers scaling them back to lower consumer prices and ease inflation. Scores of companies sued the Trump administration in September 2020, arguing the process of implementing a third and fourth tranche of tariffs on roughly $350 billion in goods was overly broad and hastily implemented. If the Biden administration, having inherited the suit, cannot prove the legitimacy of the tariffs or the process, it may be forced to re-evaluate tens of thousands of public comments on the tax penalties, or reimburse the parties for what they've paid.""The stakes are significant,"" says Alex Schaefer, international trade partner at Crowell, who represents some of the importers. Schaefer says the government lacks the manpower to process the volume of  comments, and refunding importers could cost $80 billion. The U.S. Trade Representative's office declined to comment. The Department of Justice, which represents the administration in legal cases, declined to comment on the government's position but said it could be awhile before there's a final outcome.The deadline puts the White House in an awkward position: Potentially defending its predecessor's program, while studying ways potentially to alter it. Adm. John Kirby, the National Security Council's spokesman, recently called the tariffs ""poorly designed,"" ""a shoddy deal,"" that ""increased costs for American families.""   President Joe Biden has yet to make a decision on the options his advisers have presented on the tariffs, according to senior administration officials. The officials and people familiar with the matter have suggested certain fault lines forming in the policy debate, with political aides advising Biden to keep the levies in place to avoid attacks across the aisle.Amb. Katherine Tai, who as U.S. Trade Representative holds the leading role on the tariffs, has suggested they have strategic value in maintaining leverage in negotiations with China. The economic team, led by Treasury Secretary Janet Yellen, has been advocating to roll back at least a some of the tariffs that directly hit consumers to alleviate inflation, administration officials say, asking not to be identified because the discussions are private. The economic impact on inflation is difficult to estimate. since not all imports affected by tariffs are consumer goods, and not all cost savings incurred by importers at the ports of entry would be felt by consumers at the checkout counter. Analysts at JP Morgan Chase estimated that, if retailers left prices relatively unchanged, removing all tariffs would lower inflation by, at most, 0.4%. In mid-June, White House aides confirmed they asked retail executives, which have long lobbied for relief on items like bicycles, furniture and air-conditioning units, whether tariff relief would be passed through to consumers. According to three people briefed on the meetings, retailers told the administration that the calculus wasn't as straightforward since their companies' own transportation and labor costs had risen significantly, too.In that vein, the National Security Council has backed a third option in the tariff discussion — rolling back a subset of tariffs, while launching a new investigation into China's industrial subsidies — and it appears to be gaining traction, according to administration officials.  ""There's no question that as we reorient our policy with China that we are going to need to ratchet up our suite of trade tools in sectors and in areas where you see the clearest threat from Chinese state run practices,"" another senior administration official tells CNBC, while noting all options remain on the table. It remains unclear when Biden will make a decision, and whether China would be prepared to respond in kind if the U.S. removed a portion of tariffs. Foreign policy experts have suggested coupling tariff relief with an intensifying investigation could anger Beijing as the two countries discuss a meeting for the leaders in person. Frosty relations and rhetoric between the two countries amid recent tensions may require some distance. ""Modest tariff relief is still likely,"" said Clete Willems, a partner at Akin Gump who served as deputy National Economic Council director for Trump during the tariff rollout. ""But the Administration may want some distance from the Xi call and (House Speaker Nancy) Pelosi's trip to Taiwan for domestic and international political reasons."" But if the US government loses in the Court of International Trade, those political winds may push the Biden administration toward strengthening its hand against China. ""If all of a sudden the tariffs are functionally chopped back by half,"" Schaefer said, ""that may amplify the need to do that new case as quickly as they can.""",Biden administration faces midnight court deadline to defend $350 billion of Trump's China tariffs.
"Screens display the company logo for Pinterest Inc. during the company's IPO on the front of the New York Stock Exchange (NYSE) in New York, U.S., April 18, 2019. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Activist investor Elliott Investment Management disclosed on Monday it had become the largest shareholder in Pinterest Inc (PINS.N), backing the management of the digital pin-board firm and sending the company's shares up 21% in extended trading.""Pinterest is a highly strategic business with significant potential for growth, and our conviction in the value-creation opportunity at Pinterest today has led us to become the company's largest investor,"" Elliott managing partner Jesse Cohn and senior portfolio manager Marc Steinberg said in a statement.Elliott did not disclose its stake in Pinterest, and did not immediately respond to a Reuters request for comment.Register now for FREE unlimited access to Reuters.comThe Wall Street Journal had reported in July that Elliott had amassed a more than 9% stake. (https://reut.rs/3zp1smr)Elliott backed the new chief executive, Bill Reddy, who took over on June 29, saying that he ""is the right leader to oversee Pinterest's next phase of growth,"" and also commended co-founder Ben Silbermann for the leadership transition.The disclosure came as Pinterest reported a lower-than-expected profit due to higher costs and users spending less time on the digital pin-board platform.Excluding items, Pinterest earned 11 cents per share, compared with analysts' estimates of 18 cents, according to IBES data from Refinitiv.Revenue, which grew 9% to $665.9 million, also came in lower than estimate of $667 million, as the digital advertising market faces a downturn.Like its peers, Pinterest has suffered from advertisers cutting back on budgets in response to increasing costs and recession fears. Growth has also slowed compared to last year, when people, cooped up at home, thronged Pinterest for inspiration for projects such as planning weddings, home renovations and recipes.A strong dollar is another worry. Pinterest said it expected revenue growth of mid single-digit percentage in the current quarter, ""which takes into account slightly greater foreign exchange headwinds than in Q2 2022.""Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.",Pinterest shares jump after Elliott discloses it is the largest shareholder.
"Register now for FREE unlimited access to Reuters.comBEIRUT, Aug 1 (Reuters) - Liliane Cheaito's scratchy, laboured breathing went on until a nurse appeared at her hospital bed, where the 28-year-old has spent nearly every moment of the last two years in silent suffering following the Beirut port explosion of 2020.Using a suctioning machine, the nurse emptied her lungs of built-up phlegm and Cheaito's heaving chest finally eased.But the quiet halls of the American University of Beirut's Medical Center – where she has lived since the Aug. 4, 2020 blast - have not shielded her from Lebanon's collapse.Register now for FREE unlimited access to Reuters.comInstead, Cheaito and her family are trapped in their country's multiple crises – from a deteriorating health sector that can no longer treat her to paralyzed government institutions and zombified banks that have frozen her family out of their savings.""Liliane represents the agony of the Lebanese people because she's suffering from all of this,"" her older sister Nassma told Reuters.She sustained severe damage to her frontal brain lobes that left her in a months-long coma and required three surgeries.In July, she uttered her first word in nearly two years – ""mama"" – understood by her siblings to be a cry for her toddler Ali, whom she has not seen since the explosion due to a custody dispute with her husband.Cheaito remains mostly paralyzed. She communicates by squeezing her eyes shut in affirmation or turning her bandaged head away slowly in denial.On good days she can manage a shaky wave with her left hand, linked to an intravenous drip with a half-dozen drugs.They include pain medications and a treatment for epilepsy that her sisters say is not available in Lebanon, where a three-year financial meltdown has hampered imports of many medicines.Her sisters ask friends and acquaintances coming in from abroad to bring the medications, paying for them in U.S. dollars that are hard to access as Lebanon's currency continues its devaluation.Cheaito's room on the ninth floor is stuffy, a small fan unable to clear the summer humidity. Like many homes and offices across Lebanon struggling to cope with cuts in the state grid and skyrocketing fuel prices, the hospital has been rationing its private diesel supply by limiting the hours of central air conditioning.But she will not be there much longer.AUB Medical Center informed the family in February that the in-house charity group covering the costs of Cheaito's stay could no longer afford to do so, and that she would have to move to a specialized rehabilitation center to pursue her treatment.""Those special centers are asking for money, and unfortunately we can't afford it – not even part of it – because our money is in the banks,"" said Nassma.Liliane Cheaito, who is mostly paralyzed from August 2020 port blast holds her sister's hand at the American University of Beirut Medical Center (AUBMC) in Beirut, Lebanon July 26, 2022. REUTERS/Issam AbdallahTheir older sister Nawal has around $20,000 saved in a U.S.-dollar currency account at Bank Audi that she wants to use on a treatment for Liliane.But since the financial crisis took hold in 2019, many of Lebanon's banks have frozen clients out of their hard currency through informal capital controls.They cap monthly cash withdrawals in U.S. dollars and allow other limited amounts to be withdrawn in Lebanese pounds at a rate much lower than the parallel market rate.The banks say the restrictions prevent banking runs, but critics say they do not apply to the rich and powerful.Successive governments have left the financial collapse to fester even as it has impoverished the bulk of the population.The vested interests of ruling factions - which managed to preserve their grip on power in a May election - are widely blamed for obstructing solutions.Cheaito's family and their lawyer claim the restrictions are hampering her recovery as withdrawing the funds at the bank's lower rate would slash their worth.It would ultimately represent an informal haircut of more than 80%, said Fouad Debs, co-founder of the Lebanese Depositors' Union.""Nawal has saved money, and now she needs the money to spend on Liliane but the bank...is not letting Nawal withdraw the money,"" Debs told Reuters.In response to emailed questions from Reuters, a Bank Audi spokesperson said: ""Restrictions are imposed by the Lebanese systemic crisis, not by Bank Audi.""The spokesperson said the bank was generally keen to provide ""exceptional support"" including to pay for medical care and said it ""never refrained from providing (Cheaito) any support it can,"" but did not say whether it had specifically allowed exceptional withdrawals for her family to pay for her care.The depositor's union has filed more than 350 lawsuits against Lebanese banks over the last three years, most of them by clients seeking unrestrained access to their savings for school tuition or healthcare.Some clients have won but many have yet to receive a ruling. Debs said Cheaito's case would be ""one of the most desperate"" – if only they could file the complaint.In another example of how Lebanon's meltdowns have impacted Cheaito, an open-ended strike in the court system means the union has been unable to file a complaint against Bank Audi for the last month.""It's a reflection of the collapse of the whole system,"" Debs said.Register now for FREE unlimited access to Reuters.comReporting and writing by Maya Gebeily; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.","From blast to banking crisis, one woman embodies Lebanon's complete collapse."
Check out the companies making headlines after the bell: Pinterest — Shares of the image-sharing company popped more than 19% despite a miss on the top and bottom lines as activist investor Elliott Management revealed it is now the largest investor. The company also beat monthly active user estimates.Simon Property Group — Simon Property's stock rose more than 1% in extended training despite a revenue miss. The REIT beat earnings estimates by 8 cents and shared earnings guidance for the full year that topped expectations.Arista Networks — The cloud computing stock added 4.6% after hours following a beat on the top and bottom lines in the latest quarter. Arista Networks reported adjusted earnings of $1.08 per share on revenues of $1.05 billion and posted strong revenue guidance for the current quarter.Avis Budget — The rental vehicle company gained 6% in extended trading on the back of a better-than-expected quarter. Avis Budget posted adjusted earnings per share of $15.94 per share on $3.24 billion in revenue. Analysts anticipated earnings of $11.48 a share on revenue of $3.17 billion.ZoomInfo — Shares of ZoomInfo jumped 12% postmarket after topping earnings and revenue estimates for the most recent quarter. The company reported adjusted earnings of 21 cents per share on $267 million in revenue and lifted its guidance for the full year.,"Stocks making the biggest moves after hours: Pinterest, Simon Property Group, Avis Budget and more."
"U.S. August 1, 2022 / 3:26 PM / CBS News New video shows the dramatic helicopter rescue of an 83-year-old woman from the roof of a home that was devastated by the deadly flooding in Kentucky. A clip posted by the Wolfe County Search and Rescue Team on Sunday showed rescue workers lifting the woman from the roof of a home that was nearly fully submerged in the floodwaters, which have killed at least 35 people. According to the post, Wolfe County Swift Water crew members broke through the window of the home to gain access and transported five people trapped in the attic, including the 83-year-old woman. We wanted to share how amazing our friends at DET 1 C/2-238th AVN - Wildcat DUSTOFF are. This residence had 5 members trapped in the attic. Wolfe County Swift Water techs broke through a window to gain access to the family. One at a time, they were transported out of the home to gain acceess to the roof where a guardsman was positioned to assist with the hoist. On this particular evolution, an 83yr old femaile was hoisted to safety. Although team members had moved to a safe distance during the hoist, you can still witness the power of the rotor wash and it's impact on the teams ability to maintain position. Teams coming together to save lives. We would also like to thank the other countelss agencies from across the state and beyond that came in to assist.Posted by Wolfe County Search & Rescue Team on Sunday, July 31, 2022
The rescue comes as the death toll from the floods has risen to at least 35 people. The number is expected to grow. Last week's massive flooding left over 12,000 customers without power and destroyed multiple homes. Gov. Andy Beshear warned residents of Eastern Kentucky that Monday would be another ""dangerous weather day"" and asked that they seek shelter on higher ground.  Eastern Kentucky, we are praying for you. To our first responders continuing search and rescue efforts, thank you for your bravery and commitment to our people. 2/2— Governor Andy Beshear (@GovAndyBeshear) August 1, 2022 ""Everybody get to a safe place we don't want to have to search for any people that are safe right now and our first responders already have so much work to do,"" he said in the video. ""We care and love about each of you, we want to make sure you continue to be safe throughout this.""   In: Kentucky",Dramatic video shows 83-year-old woman being airlifted from a flooded Kentucky home.
"A vehicle drives through the parking lot outside a Family Dollar Stores Inc. store in Chicago, Illinois, on Tuesday, March 3, 2020.Daniel Acker | Bloomberg | Getty ImagesFederal regulators have fined Family Dollar more than $1.2 million in penalties related to safety violations at two Ohio stores, the Department of Labor's Occupational Safety and Health Administration said Monday.In January and February of this year, OSHA inspected Family Dollar stores in Columbus and Maple Heights, Ohio, and found blocked exits, unstable stacks, cluttered working areas and inaccessible electrical equipment and fire extinguishers.At the Columbus location, the agency found ""water-soaked ceiling tiles"" had fallen to the floor on multiple occasions while employees were working, according to the citation. The agency found 11 violations between the two stores, adding to more than 300 total violations by Family Dollar and its parent company, Dollar Tree, over the last five years, OSHA said in a release. ""Family Dollar and Dollar Tree stores have a long and disturbing history of putting profits above employee safety,"" Assistant Secretary for Occupational Safety and Health Doug Parker said in a statement. ""Time and time again, we find the same violations – blocked or obstructed emergency exits and aisles, boxes of merchandise stacked high or in front of electrical panels and fire extinguishers. Each hazard can lead to a tragedy.""Representative for Dollar Tree did not immediately respond to a request for comment. The company can contest the citation and the fine with the agency.The fines come just months after a Food and Drug Administration investigation found rodents, dead and alive, in more than 400 Family Dollar stores, leading to mass voluntary recalls of products this past February.Dollar stores have seen growing success amid a recent period of soaring inflation, as consumers grapple with higher prices on everything from groceries to gas. Dollar Tree upped its price point to $1.25 earlier this year.",Family Dollar hit with $1.2 million in OSHA fines for violations at 2 Ohio stores.
"Law firmsAugust 1, 2022 - The COVID-19 pandemic led to an onslaught of novel employment-related litigation. Over the last roughly two years, lawsuits have followed from, among other issues, employers requiring on- and off-site health screenings, vaccinations and quarantining; employees seeking reimbursement of expenses for working from home; allegedly unlawfully deprived COVID-related accommodations; and workplace safety concerns.Although courts are continuing to wrestle with these issues, multiple court decisions have started to provide employers some guidance.Off-the-clock timeIn an effort to keep workplaces free of COVID-19, both for the protection of employees and for the continuity of business operations, many employers required on-site, pre-shift health screenings. Litigation followed over whether non-exempt employees are entitled to compensation for this time, and to date courts have split on this issue.Register now for FREE unlimited access to Reuters.comIn California, one federal court held that time spent on pre-shift COVID-related screens was not compensable under the federal Fair Labor Standards Act because such activities were not ""integral and indispensable"" to the employee's so-called principal activities. (Pipich v. O'Reilly Auto Enterprises, LLC (S.D. Cal., Mar. 15, 2022, No. 21CV1120-L-LL) 2022 WL 788671).By contrast, another federal court, also in California, concluded that because screenings were intended to prevent outbreaks that would disrupt business operations, this activity was indispensable to the employees' principal duties and therefore compensable time. (Boone v. Amazon.com Services, LLC (E.D. Cal. 2022) 562 F.Supp.3d 1103). Similar arguments are being addressed in other pending litigation, including at the 8th U.S. Circuit Court of Appeals. (Perez v. Walmart, Inc. (W.D. Mo., Oct. 25, 2021, No. 4:21-CV-00120-HFS)).Employers also should note that the U.S. Department of Labor's guidance states that employees' time spent on required COVID tests or vaccines may be compensable depending on whether or not it occurs during normal working hours, or at the employer's direction on days off. (COVID-19 and the Fair Labor Standards Act Questions and Answers, U.S. Department of Labor).Expense reimbursements for remote workCourts have found that lawsuits alleging employees should be reimbursed the costs of equipment and utilities used while working from home during the pandemic present claims plausible enough to warrant further discovery.For example, in a lawsuit that arose under California law, a federal court held that although local and state stay-at-home orders required remote work, and the employer was not the ""but-for cause"" of this shift to remote work, the plaintiff's claims for reimbursement were sufficient to plausibly allege liability under California law. (Williams v. Amazon.com Services LLC (N.D. Cal., June 1, 2022, No. 22-CV-01892-VC) 2022 WL 1769124.)Disability and leave claimsCOVID-related disability discrimination and leave-related cases have also arisen during the pandemic, including where employees claim they were terminated for testing positive for the virus, in violation of the Americans with Disabilities Act (ADA), the Families First Coronavirus Response Act (FFCRA) and other legal protections.For example, in Brown v. Roanoke Rehabilitation & Healthcare Center, (No. 3:21-CV-00590-RAH, 2022 WL 532936 (M.D. Ala. Feb. 22, 2022)), a nurse who tested positive for COVID-19 alleged she was terminated on the 13th day of self-isolation because she refused to come to work to be re-tested by her employer. The court refused to dismiss this lawsuit, finding that, under these circumstances, COVID-19 could qualify as a disability under the ADA.In another case, Matias v. Terrapin House, Inc., (No. 5:21-CV-02288, 2021 WL 4206759 (E.D. Pa. Sept. 16, 2021)), an employee alleged that after testing positive for COVID-19, she was terminated for requesting leave under the FFCRA. Her claims, too, survived a motion to dismiss.These plaintiffs will still need to prove liability, but the courts' willingness to allow them to proceed suggests some viability to these theories.Additionally, before the pandemic, courts often viewed requests to work from home as a reasonable accommodation under the ADA skeptically, deeming in-office work an essential function of employees' jobs. (See, e.g., E.E.O.C. v. Ford Motor Co., 782 F.3d 753 (6th Cir. 2015)). However, the pandemic has revealed that employees may successfully perform their jobs working remotely. Indeed, the Equal Employment Opportunity Commission (""EEOC"") has stated that the ability to work from home during the pandemic should be considered in assessing the continued viability of remote work. (SeeEEOC Technical Assistance Questions and Answers).As workplaces reopen for in-person work, employees also have claimed a need to continue to work remotely because of an underlying condition that puts them at risk of having a severe reaction to COVID-19, if exposed to the virus. In September 2021, the EEOC filed a lawsuit in a Georgia federal court on behalf of one such employee, alleging disability discrimination under the ADA after the employer refused to accommodate remote work. (SeeEEOC v. ISS Facility Services, Inc., No. 1:21-CV-3708-SCJ-RDC). This decision could be illustrative as to how employers should handle continued requests for remote work as a reasonable accommodation.Wrongful death and injury claimsLawsuits based on alleged workplace exposure to COVID-19 are a grave reminder of the consequences of potential transmission in the workplace. Employees and employees' decedents have filed negligence suits against employers alleging failure to implement adequate COVID-19 prevention protocols. However, these cases have faced uphill battles, especially because workers' compensation statutes typically bar employees from suing for illnesses contracted in the workplace.To circumvent the workers' compensation bar, some employees' family members have brought ""take home"" COVID-19 cases against employers, based on employees contracting COVID-19 in the workplace and then transmitting the virus to their family. These claims have had mixed results.In a case involving a woman suing her husband's employer, claiming under California law that she contracted COVID-19 from her husband's exposure to the virus at work, a court dismissed the case finding that the claims were barred by California's ""derivative injury"" doctrine, and the employer did not owe a duty to its employee's wife.Notably, the California Supreme Court recently accepted an appeal to address whether companies can be held liable for not doing enough to stop COVID-19 from spreading to workers' households. (Kuciemba v. Victory Woodworks, Inc., 31 F.4th 1268 (9th Cir. 2022))Negligence claims by employees and employees' family members also may be challenged by shield laws that have been passed in multiple states (such as in Texas and Tennessee) in various forms. Generally speaking, these statutes immunize employers from liability for employees contracting COVID-19 in the workplace, but the scope of these protections vary widely. Some states, including California, Delaware and Illinois, have refused to enact such legislation.WARN Act claimsEmployers also have faced claims under the federal Worker Adjustment and Retraining Notification Act, and state equivalents, arising out of mass layoffs during the early days of the pandemic. In June 2022, the 5th U.S. Circuit Court of Appeals found in favor of employees in one such case, ruling that COVID-19 did not fall under the ""natural disaster"" exemption from the layoff notification requirements under federal law (SeeEasom v. U.S.Well Servs., Inc., 37 F.4th 238 (5th Cir. 2022)).ConclusionSome two years after the start of the pandemic, the success of COVID-related claims remains to be seen as they continue to make their way through the courts. Employers should monitor these developments and, if necessary, based on emerging trends in these decisions, consider modifying their practices.Gregory P. Abrams is a regular contributing columnist on employment law for Reuters Legal News and Westlaw Today.Register now for FREE unlimited access to Reuters.comOpinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Westlaw Today is owned by Thomson Reuters and operates independently of Reuters News.Gregory P. AbramsGregory P. Abrams is a partner in the Chicago office of Faegre Drinker Biddle & Reath LLP. He defends companies in all types of employment litigation and counsels employers on matters involving, among others, compliance with COVID-19 related obligations, covenants not to compete, wage and hour laws, drug and alcohol testing, employee discipline and termination, and criminal background checks. He can be reached at gregory.abrams@faegredrinker.com.Caroline GuensbergCaroline Guensberg is a labor and employment associate in Faegre Drinker Biddle & Reath LLP's San Francisco office. Her practice includes litigating employment-related matters, counseling employers on compliance with international, federal, and local laws, and conducting internal investigations. She can be reached at caroline.guensberg@faegredrinker.com.Sara Ehsani-NiaSara Ehsani-Nia is a labor and employment associate in Faegre Drinker Biddle & Reath LLP's Los Angeles office. She works with employers to ensure they are compliant with labor & employment laws including wage and hour laws, the Private Attorneys General Act, the Fair Employment and Housing Act, disability leave laws, the Equal Pay Act, fair credit reporting laws and local COVID-19 ordinances, among others. She also advises clients in the creation of employment policies, practices and procedures. She can be reached at sara.ehsaninia@faegredrinker.com.",COVID-19 employment litigation: taking stock two years in.
"Register now for FREE unlimited access to Reuters.comAug 1 (Reuters) - News that his ship would be allowed to leave the Ukrainian port of Odesa carrying grain was the ""best feeling"" of the year, a joyful crew member said on Monday, adding he was worried about mines.The Sierra Leone-flagged Razoni left Odesa bound for Lebanon on Monday with 27,000 tonnes of grain. read more ""It was a great feeling,"" junior engineer Abdullah Jendi, from Syria, said. ""Everyone on the ship was very happy. I can say that it was the best feeling we have had in 2022.""Register now for FREE unlimited access to Reuters.comThe ship will pass through the Bosphorus Strait on Tuesday.""To be honest, I am scared from the fact that there are naval mines,"" Jendi said. ""This is the only thing that I fear during this trip, as for the other things, we are used to them as sailors.""The sailing was made possible after Turkey and the United Nations brokered a grain-and-fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that is grinding on with no resolution in sight.It was the first departure since Russia's invasion of Ukraine five months ago blocked shipping through the Black Sea.Russia and Ukraine account for nearly a third of global wheat exports.Moscow has denied responsibility for the food crisis, blaming Western sanctions for slowing exports and Ukraine for mining the approaches to its ports. The Kremlin called the Razoni's departure ""very positive"" news.Jendi said alarms would go off in Odesa every day and the crew feared they would never get to go home.""We did not know when we would be released, so we lived every day on the hope of being released,"" he said.The Sierra Leone-flagged ship Razoni leaves the sea port in Odesa after restarting grain export, amid Russia's attack on Ukraine, Ukraine August 1, 2022. REUTERS/Serhii SmolientsevINDESCRIBABLE FEELING""As for other dangers, in the beginning there was a lack of food and water supplies reaching the ship, as there was a lockdown when the war started. When the restrictions were eased, we were able to go to the city and buy what we needed and clear our minds from the stress.""He said the plan was to reach Istanbul on Tuesday and refuel.""We will also need to do a few simple routine repairs that we do to any ship after it is docked. We will then go to another Turkish port, which will be assigned by the Turkish port authorities, and then head to Tripoli's port, where the ship will unload.""He said Lebanon, suffering its worst political and economic crisis in decades, was chosen ""because of the circumstances they're facing"".He said the journey should take about a week.""The feeling is indescribable. It is so important to live in security, because I spent a while experiencing the feeling of danger, the great fear knowing that at any moment something could happen to us because of the air strikes.""We couldn't even turn on the lights at night. We couldn't be outside at night for our safety."" he said. ""The port would be completely dark for security reasons.""He said of being able to leave: ""It's a great feeling, I haven't seen my family in over a year because of my work at sea.""Jendi said: ""Both sides at war will lose, even the victor of war will have lost because of the human and material losses.""In my opinion, the people of Ukraine don't deserve this because they are good and peaceful people.""Register now for FREE unlimited access to Reuters.comReporting by George Sargent, Anna Lubowicka and Bushra Shakhshir; Writing by Nick Macfie; Editing by Janet LawrenceOur Standards: The Thomson Reuters Trust Principles.",Ukraine grain ship crew overjoyed to set sail amid worries about mines.
"Politics Updated on: August 1, 2022 / 3:57 PM / CBS News Convicted Capitol rioter faces sentencing Texas man who brought gun to Capitol riot faces sentencing 03:45 Washington — A federal judge on Monday sentenced Guy Reffitt, the Texas man convicted of bringing a handgun to the Capitol during the Jan. 6 attack, to 87 months in prison, the longest sentence so far related to the 2021 assault.A member of the far-right militia group the Texas Three Percenters, Reffitt was the first defendant to stand trial on charges stemming from the attack. He was found guilty in March of five criminal counts, including obstructing Congress' certification of President Biden's Electoral College win.The 7.25-year sentence was far shorter than the 15 years sought by prosecutors, who argued that the punishment should be more severe since Reffitt's actions amounted to terrorism. At a sentencing hearing on Monday in federal court in Washington, D.C., Judge Dabney Friedrich disagreed, citing other Jan. 6 cases in which prosecutors did not seek such an enhancement. Still, the sentence is the lengthiest handed down for a Jan. 6 defendant to date. Two other defendants received sentences of 63 months earlier this year for their roles in the attack. Reffitt's defense team had urged the judge to sentence him to no more than two years behind bars.Reffitt will also be on probation for three years upon his release, and must pay a $2,000 fine. Addressing the court during Monday's hearing, Reffitt admitted he acted like a ""f***ing idiot"" on Jan. 6 and said he regretted his actions, apologizing to Congress and the officers he encountered that day. Guy Reffitt addresses a federal judge in Washington, D.C., on Monday, August 1, 2022, ahead of his sentencing for his role in the Jan. 6 attack on the Capitol. William J. Hennessy, Jr. ""I was a little too crazy,"" he said to a skeptical Friedrich. ""I was not thinking clearly."" The judge said it was difficult not to see the apology as anything but ""halfhearted,"" particularly given some conspiratorial statements he has made about the events of Jan. 6 since his arrest. ""What he and others who attacked the Capitol on Jan. 6 did is the antithesis of patriotism,"" the judge said before handing down the sentence. In seeking the lengthier sentence, prosecutors said in court filings that Reffitt played a central role as part of the mob on Jan. 6, and intended ""to use his gun and police-style flexicuffs to forcibly drag legislators out of the building and take over Congress."" Assistant U.S. Attorney Jeffrey Nestler told Friedrich that Reffitt ""puffed himself up"" as the leader of the mob, waving the rest of the rioters on as he confronted police on the Capitol's west front.""He didn't just want President Trump to stay in power,"" Nestler said. ""He wanted to physically and literally remove Congress.""The prosecutor alleged that Jan. 6 was ""the beginning"" for Reffitt. ""He wanted the rest of his militia group to start taking over state capitols all around the country,"" Nestler said. Former U.S. Capitol Police Officer Shauni Kerkhoff, who confronted Reffitt outside the Capitol on Jan. 6, implored the judge to sentence Reffitt to the maximum sentence possible under the law. ""His actions weren't acts of patriotism. They were acts of domestic terrorism,"" Kerkhoff said.Prosecutors said Reffitt also threatened his children when they wanted to report him to authorities. At his trial, Reffitt's 19-year-old son Jackson — who turned his father in to law enforcement — told the jury that he had learned of his father's membership in the mob when he saw his mother and sister watching news coverage of the events that day. Jackson described the threat his dad had made against him and his sister, Peyton, when they tried to turn him in: ""If you turn me in you're a traitor, and traitors get shot.""In court on Monday, prosecutors read a letter from Jackson to the judge, in which he described the ""painful, slow story"" of his father's descent into conspiracy theories. He said his father needed mental health care, which Friedrich said she would require as part of the sentence. During the trial, Reffitt's attorney at the time called no witnesses, and Reffitt did not testify in his own defense.F. Clinton Broden, Reffitt's new attorney, disagreed with prosecutors' characterization of his client. He argued in written memos and in court that Reffitt never actually entered the Capitol, never removed the handgun from his holster and ""never gave any indication he would actually harm his children.""Peyton, the defendant's daughter, spoke emotionally in court on Monday in support of her father and explained that his mental health was a real issue.Wiping away tears, Peyton said, ""My father's name wasn't on the flags that were there that day, that everyone was carrying. It was another man's name,"" referring to former President Donald Trump, who addressed his throngs of supporters near the White House before they marched on the Capitol. Friedrich, the judge, appeared most concerned with Reffitt's mental health and prospects once he is eventually freed, at one point asking, ""What is this man going to do after he is released from prison?""  ""It's really disturbing that he repeatedly persists with these views that are way outside the mainstream,"" she added, ""His claims [about attempts to overthrow the government] are wrong.""Friedrich also took issue with Reffitt's violent threats against lawmakers like Speaker of the House Nancy Pelosi.""To this day, he has not disavowed those comments,"" she said.  Since Reffitt's conviction by a 12-person jury, five more defendants have been found guilty by juries. Five others have been convicted by judges at bench trials. One defendant, Matthew Martin, was acquitted of multiple misdemeanor counts by a judge. Outside of court on Monday, before the sentence was imposed, Reffitt's wife Nicole told CBS News she believed prosecutors' representation of her husband was a ""misrepresentation.""""He's a good man,"" she said. Cristina Corujo contributed to this report.  Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Guy Reffitt, Texas man who brought gun to Capitol on Jan. 6, sentenced to 87 months in prison."
"Tablets of the opioid-based Hydrocodone at a pharmacy in Portsmouth, Ohio, June 21, 2017. REUTERS/Bryan Woolston/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - West Virginia's cities and counties reached a $400 million settlement on Monday with drug distributors McKesson Corp (MCK.N), AmerisourceBergen Corp (ABC.N) and Cardinal Health Inc (CAH.N), resolving the local governments' allegations that the three companies fueled an opioid crisis in the state.More than 100 local governments had sued the drug distributors, alleging they recklessly oversupplied West Virginia with prescription pain medication. The settlement ends those lawsuits and builds on the companies' previous settlements with the state Attorney General's office.""I'm happy to see the judicial system work as it should by benefiting West Virginia communities that have been hit hard by opioid abuse,"" West Virginia Attorney General Patrick Morrisey said in a statement.Register now for FREE unlimited access to Reuters.comCardinal Health said in a statement that the settlement will provide funds to West Virginia communities in need, and that it remains committed to being ""a part of the solution to the opioid epidemic.""McKesson, Cardinal Health and AmerisourceBergen, along with Johnson & Johnson (JNJ.N), previously agreed to a $26 billion nationwide settlement of opioid litigation, but that settlement did not include West Virginia.West Virginia previously settled the state's claims against the three companies, but its local governments brought their own lawsuits separately from the state litigation.The $400 million city and county settlement does not include two local governments, the City of Huntington and Cabell County, which sued the three companies in federal court. Huntington and Cabell County lost their federal court case on July 4. read more ""The exclusion of Huntington and Cabell County is particularly painful because this community is the epicenter of the opioid epidemic,"" said Paul Farrell, an attorney representing the West Virginia cities and counties.More than 3,300 lawsuits in the United States have been filed by local and tribal governments over the opioid abuse and overdose epidemic. They accuse drugmakers of downplaying the risks of the addictive pain medicines and distributors and pharmacies of ignoring red flags that the drugs were being diverted into illegal channels.U.S. officials have said that by 2019, the health crisis led to nearly 500,000 opioid overdose deaths over two decades.Register now for FREE unlimited access to Reuters.comReporting by Dietrich Knauth in New York
Editing by Matthew Lewis
Our Standards: The Thomson Reuters Trust Principles.",West Virginia cities reach $400 mln opioid distributor settlement.
"Member of the European parliament Raffaele Fitto addresses a plenary session at the European Parliament to present the programme of activities of the French Presidency as the country currently holds the European Union rotating presidency, in Strasbourg, France, January 19, 2022. Bertrand Guay/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comROME, Aug 1 (Reuters) - The Brothers of Italy party, in pole position for next month's elections, sees room to revamp parts of an European Union-funded investment programme to help the economy tackle an energy crisis and soaring costs, a party official said on Monday.Prime Minister Mario Draghi's resignation has paved the way to early elections on Sept. 25, with surveys suggesting the conservative alliance led by far-right Brothers of Italy is well placed to win a parliamentary majority.Italy is entitled to receive more than 200 billion euros ($205.40 billion) in cheap loans and grants from the fund set up to help the bloc's 27 countries recover from the COVID-19 pandemic.Register now for FREE unlimited access to Reuters.comThe outgoing government has so far secured almost 67 billion euros of EU funds. Rome now needs to reach 55 new targets in the second half of 2022 to tap additional 19 billion euros this year, but the targets should be adjusted for new challenges, said Raffaele Fitto, co-chair of the European Conservatives and Reformists,- Brothers of Italy group at the European Parliament.""The war in Ukraine has put us in front of different goals and priorities than those that existed at the time the plan was written"" in early 2021, Fitto said in written comments to Reuters.He said EU rules allowed members to amend their national plans if some milestones and targets are no longer achievable.Fitto said the national plan needed to take into account rising energy prices and growing costs of materials, which complicate construction companies' work on public projects.""We don't want to throw away the current plan but ... make it more efficient and suitable to ensure structural growth,"" he said.Another, senior source close to Brothers of Italy, who asked not to be named, said the party will not put at risk ""any money"" from the EU.Draghi's government had ruled out renegotiating the national Recovery Plan and in May earmarked some 10 billion euros until 2026 to cope with surging costs of raw materials.($1 = 0.9737 euros)Register now for FREE unlimited access to Reuters.comEditing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Italy's right-wing frontrunners see room to revamp national Recovery Plan.
"Crime August 1, 2022 / 4:00 PM / CBS News A Minnesota man accused of stabbing multiple people while tubing in a Wisconsin river has been charged with homicide, CBS Minnesota reports. A 17-year-old was killed and four people were wounded in the incident Saturday.Nicolae Miu, 52, was charged in St. Croix County, Wisconsin, with one count of first-degree intentional homicide and four counts of attempted first-degree homicide on Monday. The station reports bail was set at $1 million — double the amount requested by prosecutors.In court, Miu's lawyer described the incident as a ""chance encounter.""  Miu is accused of stabbing five individuals while tubing down Apple River in Somerset, Wisconsin, not far from the Minnesota border. According to police, Miu was tubing in his own group next to the group of victims on the river. Witnesses saw the stabbings and took a photo of Miu, which allowed police to capture him following a 90-minute search and evacuation of the river. At the time of the incident, the St. Croix County Sheriff's Office said they were unsure what started the confrontation. CBS Minnesota reports that according to the criminal complaint, multiple videos that have been taken into evidence which show Miu interacting with the group, who can be heard telling him to go away. The video shows Miu appearing to look for something, but the complaint says some of those on the scene believed he was ""looking for little girls,"" and accused him of being a child molester.  According to an interview Miu gave to police, he claimed he was ""fearful for his life"" and was only looking for a cellphone he believed he had lost in the water. Miu also claimed the knife belonged to another person on the scene was apologetic about how the situation ""ended up,"" CBS Minnesota reports. The deceased victim has been identified by officials as a student at Stillwater High School. The survivors ages range from 20 to 24;  their names have not been released. At least two of the individuals have since been released from the hospital, according to police. Miu is being held at the St. Croix County jail. In: Stabbing Crime Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Man accused of stabbing Wisconsin tubers charged with homicide.
"Register now for FREE unlimited access to Reuters.comLONDON, July 29 (Reuters) - (This July 29 story is refiled to fix typos in paragraphs 4, 5 and 7)After headlining a festival in the metaverse, virtual singer and influencer Polar has ambitions to perform in the real world - drawing inspiration from the avatar concerts pioneered by Swedish pop giants ABBA, the digital team behind her says.The creation of media company TheSoul Publishing, Polar currently exists only in virtual world environments and on social media.Register now for FREE unlimited access to Reuters.comHer career took off in 2021 when she performed her debut single ""Close To You"" in the video game ""Avakin Life"", and she has 1.6 million followers on TikTok and a YouTube channel with more that 500,000 subscribers.Fans were able to interact with her again last month at the game's annual Solar Sounds Festival, which Victor Potrel, TheSoul Publishing's Vice President of Platform Partnerships, said attracted more than 4 million visitors last year.""I want to perform a live show in a real venue in front of my real world fans. It may not be as far away as people think,"" Polar said in answer to a question submitted by Reuters.Potrel said that, while the focus was on the huge audience in the metaverse, her team were considering options for possible real events too.""ABBA is doing a series of concerts where they are a hologram on stage, and we think that that's a type possible - to also bring Polar to the real world in this way,"" he said.""So definitely we are looking at design possibilities and potential.""As regards the merging of digital and real world spaces, in the future Potrel thinks we will see more fluidity.""Maybe you will not always know ..if you're in front of the virtual artist or the real artist,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Sarah Mills; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.","Inspired by ABBA, digital popstar Polar aims for real-world debut."
"Politics August 1, 2022 / 3:37 PM / CBS News Alleged fake federal agents indicted Two men accused of posing as federal agents face new weapons charges in indictment 01:45 Washington — A Washington, D.C., man who was accused of participating in a multi-year scheme to pose as a federal agent pleaded guilty Monday to charges stemming from the ruse and has agreed to cooperate with the government's investigation, the Justice Department announced.Arian Taherzadeh, 40, admitted to creating a private law enforcement and investigative service called the United States Special Police and using it to pretend to be a federal agent with the Department of Homeland Security, the Department of Justice, the Office of Personnel Management and other federal agencies, according to plea documents filed in federal district court in Washington.As part of the scheme, which the Justice Department said began in December 2018 and continued through April 2022, Taherzadeh used his fake affiliation with the federal government to recruit other people to the U.S. Special Police and defraud the owners of three luxury apartment complexes by securing leases and then failing to pay the rent, according to the court filings. Federal prosecutors said Taherzadeh, co-defendant Haider Ali and an unnamed person also used a false affiliation with the Department of Homeland Security and other U.S. agencies to ""ingratiate themselves"" with members of the law enforcement and defense community, including by lavishing Secret Service employees with gifts worth more than $90,000.Taherzadeh and Ali, 36, were arrested in April for conduct stemming from the scheme, and Ali pleaded not guilty. Taherzadeh on Monday pleaded guilty to one federal conspiracy charge, and two violations of D.C. law: unlawful possession of a large-capacity ammunition feeding device and voyeurism.  According to the plea documents, Taherzadeh and Ali told members of law enforcement they were investigators or special agents with U.S. Special Police, though the entity was not affiliated with the U.S. government or District of Columbia. On several occasions, Taherzadeh and Ali allegedly attempted to recruit people to a federal task force by posing as law enforcement and making up stories about their background as part of the scheme. Taherzadeh claimed he was a former Army Ranger,  former U.S. Air Marshal, a special agent with Homeland Security and member of a multi-jurisdictional task force, according to plea documents.  An FBI affidavit filed in federal court includes photos Arian Taherzadeh sent a witness in the case, showing Taherzadeh with police gear in his apartment, including cases often used to carry firearms. U.S. Department of Justice He also falsely said he worked on past cases involving child exploitation and undercover operations involving confidential informants. Federal prosecutors claim Ali said he worked for the Department of Homeland Security or the Secret Service, and was on a special assignment at the White House. Ali also allegedly made a series of false claims about his background, including that he participated in the arrest of Joaquín ""El Chapo"" Guzmán, his family was ""Middle-Eastern royalty,"" he was a Calvin Klein Model, and a close relative led the Pakistani intelligence service. To bolster his claims and appear as a legitimate federal employee, Ali used photos of well-known government officials, which he obtained through his work as a driver with a car service, according to court filings. As part of the scheme, the Justice Department said Taherzadeh and Ali were able to obtain leases for multiple apartments across three different complexes in Washington by using U.S. Special Police, law enforcement personas, and made-up federal supervisors. They bilked the complexes out of more than $800,000 in unpaid rent, fees and parking, according to filings.On one occasion at the Sonnet apartment building in Northwest D.C., Taherzadeh and another person claimed to be federal law enforcement and accessed video surveillance from the building to park in unauthorized spots. At another complex in Southeast D.C., The Crossing, prosecutors said Taherzadeh had an unlicensed Glock handgun with a large capacity ammunition feeding device, numerous rounds of ammunition, surveillance equipment, tactical gear, clothing with police insignias and equipment for breaching a door. Like at the Sonnet, Taherzadeh and Ali allegedly used their fake law enforcement personas to obtain access to security footage at The Crossing, and also to get parking spots. The spots were not only used for their personal cars, but also were given to Secret Service members for their personal use, prosecutors said.In his apartment at The Crossing, Taherzadeh installed surveillance cameras outside and inside of his unit, including in his bedroom, which he used to record sexual activity with women, according to the court documents. He then showed explicit videos to third parties, federal prosecutors said.Taherzadeh's false identifications to the Secret Service began in the spring of 2020, according to plea documents, when he claimed to be a special agent in a gang unit with the Department of Homeland Security.  He told a special agent with the Secret Service that he was part of a covert task force, according to the court filings.Federal prosecutors said Taherzadeh and Ali ""attempted to and did ingratiate themselves with employees of the [Secret Service] because it provided them with cover and furthered their impersonation as a federal law enforcement officer."" In one instance Taherzadeh gave the wife of a Secret Service employee what he claimed was  a government vehicle, and the worker and his wife a generator and survival backpack. He gave another a penthouse apartment to live in rent-free for a year, and a third Secret Service employee with a penthouse apartment, drone, gun locker, and Pelican case.Secret Service members also received iPhones, surveillance systems, a flat-screen television and computer monitor from Taherzadeh, Ali and the unnamed third person as part of their efforts to cozy up to them, federal prosecutors said. They also offered to buy an assault rifle for an agent assigned to first lady Dr. Jill Biden's Secret Service detail, according to court records.According to plea documents, the gifts were provided in the course of Taherzadeh's friendship with the three Secret Service  employees and ""deepened their relationship.""A sentencing date for Taherzadeh has not been set, though he is set to appear in court again in November. Four Secret Service employees — two are agents and two are uniformed division officers — were also suspended in April after they were duped in the scheme by Taherzadeh and Ali. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Man who posed as federal agent, cozied up to Secret Service members pleads guilty."
"MP Penny Mordaunt greets Conservative leadership candidate Liz Truss during a hustings event, part of the Conservative party leadership campaign, in Exeter, Britain, August 1, 2022. REUTERS/Peter NichollsRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Foreign Secretary Liz Truss's bid to become Britain's next prime minister got a major boost on Monday when she received the backing of a lawmaker she narrowly defeated to make it to the final two candidates vying to replace Boris Johnson.Junior trade minister Penny Mordaunt was the last contender to be eliminated in a succession of ballots by lawmakers in the ruling Conservative Party, losing out to Truss by just eight votes.Party members will now decide whether Truss, who is favourite to succeed Johnson according to opinion polls, or former finance minister Rishi Sunak should be the next Conservative leader and prime minister.Register now for FREE unlimited access to Reuters.com""I came third in this contest and I owe it to all of you to be a signpost, not a weather vane, and so I've made my choice,"" Mordaunt told a hustings event in southwest England.""I've seen enough to know who the person that I'm going to put my faith in is and that is Liz Truss.""Mordaunt joins other senior ministers who have backed Truss in recent days, including Defence Secretary Ben Wallace and finance minister Nadhim Zahawi.Sunak was initially seen as the favourite to replace Johnson when he helped to steer the economy through the ravages of the COVID-19 pandemic, but he has struggled to make headway against Truss.On Sunday he said he would slash the basic rate of income tax by 20% by 2029 in a potentially make-or-break throw of the dice. read more Register now for FREE unlimited access to Reuters.comReporting by Michael Holden; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.",British PM candidate Truss boosted by former rival's backing.
"House Select Committee investigating the Jan. 6 attack led by Chairman Rep. Bennie Thompson, D-Miss., swears in the witnesses during during the seventh public hearing by the House Select Committee to investigate the January 6th attack on the US Capitol, in Washington, DC, U.S., July 12, 2022. Doug Mills/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - An associate of the far-right Three Percenters militia was sentenced to more than seven years in prison on Monday, after he joined a mob of former President Donald Trump's supporters to storm the U.S. Capitol on Jan. 6, 2021, and later threatened to harm his own children if they informed on him to the FBI.Guy Reffitt, of Wylie, Texas, was convicted by a jury in March of five felony charges, including bringing a gun onto the Capitol grounds and obstructing an official proceeding.U.S. District Judge Dabney Friedrich issued a prison sentence of seven years, three months - the longest yet for anyone involved in the riot. She also banned Reffitt from associating with militia groups and ordered him to undergo mental health treatment.Register now for FREE unlimited access to Reuters.comEarlier on Monday, the judge said she was troubled by Reffitt's actions and comments suggesting he wanted to overthrow Congress, calling his statements ""frightening claims that border on delusional.""""In democracy, we respect a peaceful transfer of power,"" she said. ""The election was challenged in multiple courts across the country, and judge after judge said there's no merit to these claims.""Friedrich declined to apply a domestic terrorism enhancement to her sentence - the first requested in a Jan. 6 case - even though the lead federal prosecutor and a former Capitol Police officer who provided a victim impact statement both said they believed Reffitt committed an act of terrorism that day.Reffitt ""intended to harm members of Congress,"" former Capitol Police officer Shauni Kerkhoff told the court, adding that she ""watched in horror as he encouraged the angry mob to push past.""Reffitt, 49 at the time of his conviction, never entered the Capitol, but video evidence showed him egging on the crowd and leading other rioters up a set of stairs outside the building.His trial included testimony from his estranged son Jackson, who brought his father to tears as he told the jury that his father threatened him if he dared call the FBI.""He said, 'If you turn me in, you're a traitor, and traitors get shot,'"" Jackson Reffitt told jurors.At his sentencing, prosecutors introduced evidence showing Reffitt intended to commit additional acts of violence. In one text exchange, he told other militia members: “We took the Capital of the United States of America and we will do it again.""His daughter, Peyton, addressed the court, tearing up as she told the judge: ""As I know my father, he is not a threat to my family,"" adding, that his mental health ""is a real issue.""Jackson Reffitt also wrote a letter that was read aloud in court. ""I hope to see my father use all the safety nets"" available at prison, including mental health care, he added.Ahead of the sentence announcement, Reffitt said in 2020, he was ""a little too crazy"" and openly apologized to police and his family.""I want nothing to do with this stuff anymore. I want nothing to do with militia groups... I am so sorry,"" he said.Reffitt was the first Capitol rioter to go to trial in the U.S. District Court for the District of Columbia.To date, federal prosecutors have won convictions in all but one of 13 trials tied to the Capitol attack.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch; Editing by Scott Malone, Mark Porter and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Texas far-right militia member gets over 7 years for part in Jan.6 Capitol riot.
"An activist stick posters on a fence during a protest to call for a stronger response by the government to the monkeypox crisis, outside the Health Secretary building, in Mexico City, Mexico, Mexico, July 26, 2022. REUTERS/Edgard GarridoRegister now for FREE unlimited access to Reuters.comMEXICO CITY, Aug 1 (Reuters) - Francisco's lesions started after returning home to Mexico City from California in late June: First, two spots on his buttocks. Then, a week later, lesions all over his body, his mouth so full of sores that he could barely talk or drink water.""The pain was indescribable, catastrophic,"" said Francisco, 44, who asked Reuters to conceal his real name.Francisco had one of at least 59 monkeypox infections confirmed in Mexico since May, which experts believe could undercount the true number.Register now for FREE unlimited access to Reuters.comIn Latin America, Mexico ranks behind Brazil and Peru for confirmed cases of the viral disease, which has primarily spread among gay and bisexual men like Francisco.The World Health Organization declared monkeypox a global health emergency on July 23, prompting greater attention from regional officials. However, some doctors and activists in Latin America's two largest countries told Reuters the response has been too tepid.""We are not seeing the necessary measures taken, nor the necessary importance given to monkeypox,"" said Dr. Sergio Montalvo, a sexual health specialist in Mexico City.Doctors like Montalvo fear authorities have not learned lessons from the COVID-19 pandemic, which has strained health systems and left governments strapped for cash.The story is similar in Brazil, where over 970 infections represent over two-thirds of the region's total, per data from the Pan American Health Organization (PAHO).Brazil's Health Ministry announced a contingency plan on July 28, over a month after its first case and a day before reporting the first monkeypox death outside Africa in the current outbreak. read more Peru reported its first monkeypox-related death on Monday, a public hospital director told local media.""We were already receiving news about the outbreak in Europe and the United States, but the government didn't do anything,"" said Vinicius Borges, a infectious disease specialist in Sao Paulo. He said pain from monkeypox lesions has had ""serious effects"" on his patients.Neither Mexico nor Brazil's health ministries responded to multiple requests for an interview.Following the WHO declaration, Mexico's Health Ministry launched a website about monkeypox and its second advisory with information about the virus - its first since the country confirmed a case in May.""In these two months, we could have already made significant progress,"" said Ricardo Baruch, an LGBT health researcher who helped organize a protest in Mexico City last week to ask for greater efforts to target prevention to men who have sex with men (MSM).A study in the New England Journal of Medicine found that 98% of infections in the ongoing outbreak outside Africa are among gay and bisexual men.Mexican health authorities have avoided emphasizing the risks to this group.""They don't want to create stigma, but if they don't talk about it, the policies aren't going to be focused on us,"" said Baruch.Microbiologist Natalia Pasternak also expressed concern about Brazil's messaging.""There hasn't been an effort from the federal government to raise awareness in the population as to how you can get monkeypox, how it transmits from person to person, how you recognize the lesions in the skin and how it can transmit by close or sexual contact,"" Pasternak said.On July 25, Health Minister Marcelo Queiroga said Brazil's government had ""done its homework"" to prepare, pointing to four labs doing testing.But ""it will take some time to build testing capacity in Brazil,"" said Pasternak, a member of Sao Paulo state's monkeypox advisory board. ""We don't really see the intention of the health ministry to do this planning.""In one possible sign of progress, PAHO said July 27 that ten countries in the region had expressed interest in acquiring a vaccine.Dr. Andrea Vicari, PAHO's director of infectious threat management said it was not too late to curb monkeypox's spread in the Americas.""Even if we don't have vaccines, we have other control measures. If we implement these well, we will be able to accomplish our objectives to reduce transmission.""Register now for FREE unlimited access to Reuters.comReporting and Writing by Brendan O'Boyle; Additional Reporting by Carolina Pulice and Marco Aquino
Editing by Christian Plumb and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.","'The government didn't do anything': Mexican, Brazilian monkeypox responses draw concern."
"SummaryFirst Ukraine grain ship bound for LebanonU.N. expresses hope it will be the first of manyFrance says Russian strikes undermining agreementRussia welcomes ship's departure, blames Ukraine for risksKYIV, Aug 1 (Reuters) - The first ship to carry Ukrainian grain through the Black Sea since Russia invaded Ukraine five months ago left the port of Odesa for Lebanon on Monday under a safe passage deal described as a glimmer of hope in a worsening global food crisis.The sailing was made possible after Turkey and the United Nations brokered a grain and fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition.The Sierra Leone-flagged ship Razoni will head to the port of Tripoli, Lebanon, after transiting Turkey's Bosphorus Strait linking the Black Sea, which is dominated by Russia's navy, to the Mediterranean. It is carrying 26,527 tonnes of corn.Register now for FREE unlimited access to Reuters.comBut there are still hurdles to overcome before millions of tonnes of Ukrainian grain depart from its Black Sea ports, including clearing sea mines and creating a framework for vessels to safely enter the conflict zone and pick up cargoes. read more Russia's invasion of Ukraine on Feb. 24 has led to a worldwide food and energy crisis and the United Nations has warned of the risk of multiple famines this year.U.N. Secretary-General Antonio Guterres said he hoped Tuesday's departure would be the first of many such cargos and that the U.N. would charter a ship to replenish supplies of aid.""People on the verge of famine need these agreements to work, in order to survive,"" Guterres told reporters in New York.Ukrainian Foreign Minister Dmytro Kuleba called it a ""day of relief for the world, especially for our friends in the Middle East, Asia, and Africa.""Ukraine, known as Europe's breadbasket, hopes to export 20 million tonnes of grain in silos and 40 million tonnes from the harvest now underway, initially from Odesa and nearby Pivdennyi and Chornomorsk, to help clear the silos for the new crop.Moscow has denied responsibility for the food crisis, saying Western sanctions have slowed its exports and accusing Ukraine of laying underwater mines at entrance of its ports. The Kremlin called the Razoni's departure ""very positive"" news.Trade from Russia's Black Sea ports recovered in mid-May after dropping in April, although it has fallen slightly in recent weeks, according to VesselsValue, a London-based maritime intelligence provider.Turkish Defence Minister Hulusi Akar said the vessel would anchor off Istanbul on Tuesday afternoon and be inspected by Russian, Ukrainian, United Nations and Turkish representatives.""It will then continue as long as no problems arise,"" Akar said.Before the Razoni left, Ukrainian officials said 17 ships were docked in Black Sea ports with almost 600,000 tonnes of cargo, mostly grain. Countries expressed hope more would follow.""This is a glimmer of hope in a worsening food crisis,"" a German foreign ministry spokesperson told a government briefing.The Sierra Leone-flagged cargo ship, Razoni carrying Ukrainian grain leaves the port, in Odesa, Ukraine, August 1, 2022, in this screen grab taken from a handout video. Oleksandr Kubrakov/ Ukraine Ministry of Infrastructure/Handout via REUTERS RELIEFA junior engineer on the vessel, Abdullah Jendi, said the crew were happy to be moving after their prolonged stay in Odesa and that he, a Syrian, had not seen his family in more than a year. read more ""It is an indescribable feeling to be returning to my home country after suffering from the siege and the dangers that we were facing due to the shelling,"" he said.He said he was scared the ship might hit a mine in the hours it would take to leave regional waters.The U.S. Embassy in Kyiv also welcomed the shipping resumption and said the world would be watching out for more. Chicago wheat and corn prices fell amid hopes that Ukraine’s cereals exports could resume on a large scale.Key arrangements, including shipping procedures still need to be worked out before empty vessels can come in and pick up cargoes from Ukraine using the new corridor, Neil Roberts, head of marine and aviation insurance with Lloyds Market Association, told Reuters. read more """"There is some way to go,"" Roberts said.BOMBARDMENTS IN SOUTH AND EASTWith fighting still raging, three civilians were reported killed by Russian shelling in the eastern Donetsk region - two in Bakhmut and one in nearby Soledar - in the last 24 hours, regional governor Pavlo Kyrylenko said.An industrial city and transport hub, Bakhmut has been under Russian bombardment for the past week as the Kremlin's forces try to occupy all of Donetsk after seizing most of the neighbouring region, Luhansk, last month.Russian strikes also hit Kharkiv - Ukraine's second biggest city and near the border with Russia, regional governor Oleh Synegubov said. Two civilians were wounded, he said.After failing to seize the capital Kyiv early in the war, Russia has been aiming to capture the eastern Donbas region, made up of Donetsk and Luhansk, which were partially occupied by Russia-backed separatists before the invasion. It also has aimed on capturing more of the south, where it annexed Crimea from Ukraine in 2014.Ukraine, which has launched a counter-offensive in the south, continues to ask the West to supply more long-range artillery as it tries to turn the tide in the conflict. The country has received billions of dollars in Western military aid and weapons since the start of the war.Ukraine's defence minister said Kyiv had received four more U.S.-made HIMARS rocket systems from the United States. The Pentagon said it would provide Ukraine with more HIMARS ammunition as part of a lethal aid package valued at up to $550 million.Moscow says Western arms supplies to Ukraine only drag out the conflict and the supply of longer-range weapons justifies Russia's attempts to expand control over more Ukrainian territory for its own protection.Russia invaded Ukraine in what it called a ""special operation"" to demilitarise its neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for war.Register now for FREE unlimited access to Reuters.comReporting by George Sargent, Anna Lubowicka, Bushra Shakhshir, Matthias Williams, Michelle Nichols and Reuters bureaux; Writing by Michael Perry, Angus MacSwan and Philippa Fletcher; Editing by Nick Macfie, Frank Jack Daniel and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.",'Glimmer of hope' as Ukraine grain ship leaves Odesa port.
"U.S. Secretary of State Antony Blinken appears on a screen while addressing the United Nations General Assembly during the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - U.S. Secretary of State Antony Blinken said on Monday it remains to be seen whether Tehran is willing to move forward on reviving the 2015 Iran nuclear deal and he sidestepped a question on whether Washington was prepared to return to talks on the issue.""The EU has put forward a best proposal based on many many months of discussions, negotiations, conversations. It's very consistent with something that they put forward in March that we agreed to - that we would pursue in March,"" he told reporters when asked if Washington was ready to resume talks.""It remains to be seen whether Iran is willing and able to move forward. So, we remain prepared to move forward on the basis of what's been agreed. It's still unclear whether Iran is prepared to do that.""Register now for FREE unlimited access to Reuters.comReporting By Michelle Nichols at the United Nations and Arshad Mohammed in Saint Paul, Minn.; Writing by Arshad Mohammed; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.",Blinken sidesteps question on U.S. return to Iran nuclear talks.
"2023 Ford F-150 Raptor RFordDETROIT – Ford Motor's stock on Monday added to its best month since the Great Recession in 2009, signaling a significant swing for the automaker this year.Shares of the Detroit automaker closed Monday at $15.34, up 4.4%. The gains added to the stock increasing by 31.9% in July – marking the best monthly percentage gain for Ford's shares since 127.4% in April 2009, when the automaker was emerging from the Great Recession without going through bankruptcy like its crosstown rivals General Motors and then-Chrysler.Ford's stock performance last month was driven by a steady stream of product-related announcements, including securing battery supplies for its upcoming electric vehicles, as well as a 14.6% increase last week amid the company reporting second quarter results that beat Wall Street's expectations.Ford last week also reiterated its previous guidance for the full year and said that it will increase its quarterly dividend to 15 cents per share, the amount it paid before the Covid-19 pandemic.Ford significantly outperformed GM, which was up by 14.2% last month, as well as other U.S.-listed automakers such as Stellantis (up 16.3%), Ferrari (up 15.1%) and Toyota Motor (up 5.5%). It failed to outperform others such as Rivian, which was up 33.3% last month, and Tesla, up 32.4%Ford's stock remains off by about 26% in 2022, after being the top growth stock among U.S.-listed automakers last year.– CNBC's John Rosevear and Michael Bloom contributed to this report.",Ford stock notches its best month since the Great Recession – and keeps rising.
"A woman walks past sign at the headquarters of Pinterest in the South of Market neighborhood of San Francisco.Smith Collection | Gado | Archive Photos | Getty ImagesPinterest shares jumped on better-than-expected user numbers even as earnings and revenue missed estimates and the company gave weak guidance for the third quarter.Here's how the company did.Earnings: 11 cents adjusted per share vs. 18 cents per share expected, according to Refinitiv.Revenue: $666 million vs. $667 million expected, according to Refinitiv.Pinterest said global monthly active users declined by 5% from a year earlier to 433 million. While that sort of drop-off is troubling for a social media app that relies on eyeballs to attract advertisers, analysts were expecting a steeper decline to 431 million.Pinterest's financials were gloomy, following a trend in the social media market. Facebook parent Meta, Twitter, and Snap all reported second-quarter earnings that missed on the top and bottom lines, and all attributed a weak online advertising market to their bleak results.More troubling than its second-quarter results was Pinterest's commentary about what's expected this quarter. The company said it estimates third-quarter revenue will grow ""mid-single digits on a year-over-year percentage basis,"" below analysts' projections for sales growth of 12.7%.In a letter to investors, Pinterest said economic challenges are leading marketers to reel in spending.""The macroeconomic environment has created meaningful uncertainty for our advertiser partners,"" Pinterest said in the letter."" The company said it saw ""lower than expected demand from U.S. big box retailers and mid-market advertisers, who pulled back ad spend due to concerns about weakening consumer demand.""Pinterest said that its third-quarter guidance takes into account ""slightly greater foreign exchange headwinds"" than the previous quarter.WATCH: Earnings Exchange looks at Pinterest, Caterpillar and JetBlue",Pinterest shares climb on better-than-expected user numbers even as financials disappoint.
"When husband-and-wife duo Chris Halim and Raena Lim quit their jobs in 2016 to start their own sustainable fashion business, they had little idea of the success it would become.But they knew one thing for sure: get a basic product to market as soon as possible — that's the advice they stand by today.""As start-up founders, especially at the beginning, there is a strong temptation to build the perfect product before you launch anything, or very strong temptation to aim for all the features and over-engineer everything,"" said Halim, an ex-consultant.""From our learnings, that would be a mistake,"" the Style Theory CEO told CNBC Make It.Start simpleOnce Halim and his banker wife, Lim, identified an opportunity to bring a clothes rental service to Singapore, they wasted little time in creating a waitlist to gauge interest before rolling out the service to a small number of consumers.The best way to launch anything is always do it simple with minimal scope, get it to market asap.Chris Halimco-founder and CEO, Style TheoryAs demand grew, the couple expanded their user base and apparel collection, adapting to customer requests as they went.It's advice shared by many business leaders, including in the iconic book ""The Lean Startup,"" which recommends entrepreneurs build a minimum viable product (MVP) and then test and iterate quickly in response to customer feedback.The co-founders of Style Theory, Raena Lim and Chris Halim.Style Theory""The best way to launch anything is always do it simple with minimal scope, get it to market asap, then get customers' feedback,"" said Lim.""Based on customers' feedback, you can then iterate and make it better. I think that's a much better way to build something that customers will love,"" he continued.Dream bigThe couple's nimble, data-driven approach has served them well. Five years on, the company boasts some 200,000 users across Singapore and Indonesia, and a collection of 50,000 clothes and 2,200 shoes.With backing to the tune of $30 million from investors including Softbank, Alpha JWC Ventures and the Paradise Group, the company now plans to expand into Hong Kong and introduce menswear and kidswear.In entrepreneurship, you face failures every day ... it's much more important to focus on what are you going to do next.Chris Halimco-founder and CEO, Style Theory""That future is for you to build and you get to dream it with your team and say, let's make the call to do something so different,"" said co-founder Lim.But, the pair cautioned, it's important to take the highs with the lows. Their business was hit hard by the pandemic and despite pivoting to offer new services, the rental service has today recovered just 75% of pre-pandemic users.""In entrepreneurship, you face failures every day, you make wrong decisions all the time and it's all on you,"" said Halim.""It's much more important to focus on what are you going to do next, how are you going to fix it, and how you're going to grow the business next.""Don't miss: This husband-and-wife team shares their tips for going into business togetherLike this story? Subscribe to CNBC Make It on YouTube!",32-year-old founders of multimillion-dollar app share their No. 1 tip for starting a business.
"Pro-Choice supporters of Planned Parenthood rally outside a Planned Parenthood clinic in Detroit, Michigan, U.S. February 11, 2017. REUTERS/Rebecca Cook/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - A Michigan court on Monday ruled that county prosecutors can enforce an abortion ban that has been on the books since 1931, exempting them from a different court's ruling that blocked state officials from enforcing the law.The decision by the three-judge Court of Appeals panel marks a victory for anti-abortion county prosecutors in Michigan, who have sought to enforce the ban after the U.S. Supreme Court overturned the landmark 1973 Roe v. Wade case and enabled states to outlaw abortion.Michigan's law, one of several state abortion bans enacted before the Roe v. Wade ruling legalized abortion nationwide nearly 50 years ago, makes it a felony to perform an abortion except to save the pregnant woman's life.Register now for FREE unlimited access to Reuters.comIn May, Michigan Court of Claims Judge Elizabeth Gleicher issued a temporary injunction blocking Michigan Attorney General Dana Nessel and other state officials from enforcing the ban.The Court of Appeals on Monday ruled that county prosecutors, however, were not bound by Gleicher's order.""The core nature of a county prosecutor is that of a local, not a state official. Because county prosecutors are local officials, jurisdiction of the Court of Claims does not extend to them,"" presiding Judge Stephen Borrello wrote.David Kallman, a lawyer representing Kent and Jackson County prosecutors Christopher Becker and Jerry Jarzynka, said they were ""very pleased"" with the order.Both prosecutors have abortion providers in their county, and Kallman said his clients would likely prosecute in cases where abortion providers appear to have violated the 1931 law by performing abortions outside a medical emergency.Democratic Governor Gretchen Whitmer, who filed a lawsuit in April to prevent the 1931 law from taking effect, has made protecting abortion access in Michigan a central part of her campaign for re-election this fall.""As we review the Court of Appeals decision, know that I will continue to fight like hell to protect a woman’s ability to make her own medical decisions with her trusted health care provider,"" Whitmer wrote on Twitter on Monday.Concerned that the Republican-controlled legislature will try to restrict abortion, Whitmer is pressing the state Supreme Court to recognize the right to abortion under the state constitution. read more Abortion rights supporters also have filed a petition to put a state constitutional amendment on the ballot this fall, which would allow Michigan voters to decide if abortion rights are protected. Opinion polls show the majority of Michigan residents support the right to abortion.Register now for FREE unlimited access to Reuters.comReporting by Gabriella Borter
Editing by Colleen Jenkins and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Michigan court allows county prosecutors to enforce 1931 abortion ban.
"MoneyWatch August 1, 2022 / 12:27 PM / CBS/AP A Michigan college professor who was suspended in January for making a profanity-filled video to welcome students settled his legal dispute with his university by accepting $95,000 and agreeing to a three-year gag order.As part of the deal, Barry Mehler retired from Ferris State University rather than face possible termination after a judge refused to reinstate him last spring, according to a March document released to The Associated Press under a public records request.Mehler, 75, and the university agreed not to criticize each other. If the professor speaks out over the next three years, he must pay $60,000. Mehler taught history at Ferris State for decades. He made headlines in January after posting a provocative 14-minute video to welcome students, which got more than 500,000 views on YouTube.In the video, he used profanities and made a sexual reference as he rambled on about his attendance policy, grades, plagiarism and COVID-19. Mehler adapted a vulgar monologue from ""Deadwood"" as part of making a point about plagiarism and told students he would assign grades randomly. ""There's absolutely nothing you can do—you have no control over your grade,"" he said. ""My grading system is based on the Calvinist doctrine of predestination.""Mehler was also upset with the university over its refusal to require COVID-19 vaccinations. ""COVID-19 has already killed one out of every 100 Americans over the age of 60. In other words, whatever you think of the risk of Covid, I live in a very different world. My risk is much greater than yours,"" he said.He told students, ""you people are vectors of disease to me,"" and said they didn't need to attend class in person, because ""everything you need to earn an A"" was available on the class website. University ""shocked and appalled""After the video was posted, Ferris State suspended Mehler on January 11 and started investigating his conduct.David Eisler, who was Ferris State president at the time, said he was ""shocked and appalled"" by the video, which he called ""profane, offensive and disturbing."" The professor said his free speech rights were violated when he was suspended. He previously told the AP his comments were irreverent and intended to get his students to think critically. ""The whole idea was to get their juices flowing,"" Mehler said in January. ""But they also knew their grade was not based on predestination. That was simply humorous.""Ferris State is in Big Rapids, 155 miles northwest of Detroit. In: Detroit civil rights Michigan Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","College professor suspended over vulgar video quits, settles for $95,000."
"10-year Treasury continues to break lower on worries about economyThe closely watched 10-year Treasury yield continued to slide Monday, as traders worried about economic weakness. The 10-year yield, which moves opposite price, was at 2.61% in afternoon trading, after earlier falling below 2.60%. It was as high as 2.69% earlier in the session. Traders said the break below 2.70% was significant.""There's growing apprehension about the overall trajectory of the U.S. economy,"" said Ian Lyngen, head of U.S. rates strategy at BMO. ""If we break 2.55%, then 2.50% becomes an attractive level.""He said the market is also pricing out some inflation expectations. ""Energy prices are off today and that's helping.""The 10-year yield is key since it impacts mortgage rates and other consumer and business loans.—Patti DommStocks slip in last hour of trading Stocks fell slightly into negative territory heading into the last hour of trading on Monday. The S&P 500 slipped 0.19% and the Nasdaq Composite lost 0.001%. The Dow Jones Industrial Average was down 7 points, or about 0.03%. — Carmen ReinickeJuly S&P 500 gains were a bear market rally, BofA's Subramanian saysJuly's S&P 500 gains marked the second bear market rally of more than 10% this year, Savita Subramanian, BofA Securities head of U.S. equity and quantitative strategy, wrote in a Monday note to clients.""We view this as a bear market rally, which is common, occurring 1.5 times on avg. per bear market since 1929,"" Subramanian said. Aug. and Sept. are traditionally weak months for stocks, the strategist added and maintained the firm's 3600 price target for the S&P 500.This July was also the month's best performance since the Great Depression, according to the note.— Carmen ReinickeEnergy stocks are falling and could be in for tough month - chart analystOil and gas stocks fell hard as oil slumped nearly 5%.Mark Newton, Fundstrat global head of technical strategy, expects oil could to continue to decline to the $85 per barrel range. West Texas Intermediate crude futures were just under $94 per barrel in afternoon trading.""Most of energy can get smushed in the short run,"" he said. ""I am a longer term energy bull.""But in the near term, oil is making a technical break, he said. ""Energy is not going to be the place to hide in August.""The Energy Select Sector SPDR Fund ETF, which represents the S&P energy industry, was down 2.4% in afternoon trading. Exxon Mobil was down more than 2.5%, and Chevron was off just about 2%.—Patti DommDevon announces earnings, trading haltedShares of Devon Energy were halted as the company released its second-quarter earnings report on Monday afternoon. The stock was last down 1.7% for the session.Devon said it earned an adjusted $2.59 in earnings per share and generated $2.1 billion in free cash flow, which was the largest in the firm's history. The company also declared a dividend of $1.55 per share and announced that it was raising production targets for the full year by 3%.Devon had previously said it would release its second-quarter results today after the market close.The company said it will hold a conference call to discuss the quarter on Tuesday morning.—Jesse PoundSantoli: S&P 500 clears big hurdle, but another challenging level awaitsCheck out some of CNBC senior market commentator's Michael Santoli's notes on Monday's session:The market rushed up to a crucial level in the past week and month. It is pausing there to survey the scene. The worst first half in a half-century is followed by a +9% month in S&P 500, allowing resolute bears to dismiss the action as a mere squeezy oversold bear-market bounce while sending a few signals to optimists that the push higher was broad enough to have positive implications for the next 6 to 12 months' equity returns.The first hurdle was cleared: a decisive break of the April-July downtrend and the 50-day average, placing the S&P 500 right at its 100-day average and the top of a roughly three-month range. Plenty of obvious resistance sits above (4,230 is the halfway point of the entire decline from the January peak) but the market has done enough to suggest mid June was a plausible important low.CNBC Pro subscribers can get his full notes here.Second-half outlook for stocks looking more attractive, JPMorgan's Kolanovic saysOne of the most widely followed strategists on Wall Street is growing more optimistic on stocks going forward. ""Although the near term activity outlook remains challenging, we believe that the risk-reward for equities is looking more attractive as we move through 2H,"" wrote JPMorgan's Marko Kolanovic. He noted that, despite last week's disappointing GDP report, some encouraging signs have started to emerge, ""as firms sharply slowed their pace of stockbuilding, and real consumption eked out a gain in June as households continue to cushion inflation shocks with a lower saving rate.""Kolanovic has been remained largely optimistic on stock throughout 2022. In June, he said he expected the S&P 500 to finish the year flat. As of Monday afternoon, the benchmark index is down more than 13%. —Fred ImbertGE on track for longest win streak in 50 yearsShares of General Electric gained nearly 1% during Monday's session, putting the stock on track for its 12th-straight day of gains. If it closes in the green, it will be the company's longest win streak in 50 years.— Carmen ReinickeEarly outlook for Q3 economic growth doesn't look goodThe outlook for economic growth in the third quarter already is looking fairly grim.Following Monday's ISM manufacturing reading, which was the lowest since June 2020, tracking data for Q3 growth moved lower.The Atlanta Federal Reserve's GDPNow real-time tracker now is indicating a gain of just 1.3%, down from the initial 2.1% reading Friday. Goldman Sachs also lowered its outlook, dropping its already meager 1% tracking estimate down to 0.9%. Also, Capital Economics said the early Q3 data is pointing to an annualized GDP gain of just 1.5%.That follows Thursday's advance estimate of Q2 which showed a decline of 0.9%. Following Q1's 1.6% decline, that put the economy into a widely accepted definition of recession. — Jeff CoxBoeing leads stocks making the biggest moves midday Shares of Boeing continue to surge Monday, leading the Dow Jones Industrial Average higher. The stock jumped after CNBC reported that the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. The company also avoided a strike at some of its manufacturing plants. Stocks at midday: S&P 500 slips, Dow, Nasdaq upStocks were mixed in midday trading, continuing the earlier trend of struggling to find a solid direction. The S&P 500 erased earlier gains to slip about 0.2%. The Dow was up about 53 points or 0.16% and the Nasdaq was up 0.33% — Carmen ReinickeOil heading back to $130, says GoldmanOil prices declined on Monday amid demand concerns, but Goldman's Jeff Currie believes fears of an all-out demand slowdown are overblown.He sees international benchmark Brent crude touching $130 by the end of the year. On Monday, the contract traded roughly 3.2% lower at $100.68 per barrel.Supporting his bull case is the demand picture. While demand growth might be slowing, it's not contracting. Currie said this key point is being left out of the broader narrative in the commodities market.""The overall demand picture — it's still growing,"" he said Monday on CNBC's ""Squawk Box.""— Pippa StevensEnjoy this rally while it lasts, says Mike WilsonTraders work on the floor of the New York Stock Exchange (NYSE) on December 02, 2021 in New York City.Spencer Platt | Getty ImagesMorgan Stanley's chief U.S. equity strategist Michael Wilson believes the recent rally won't last long as corporate earnings are posited to start deteriorating.""While the bond market is starting to assume they get inflation under control, it may come with a heavier cost than normal, potentially a recession while they are still tightening, which may leave a very small window for stocks to work before earnings surprise on the downside,"" Wilson said in a note to clients.""We think that window is now but it can shut quickly. Risk reward is poor after the recent rally so trade accordingly as time may be running out,"" he added.Wilson, one of Wall Street's biggest bears, said the decline in stocks in June didn't fully reflect the risk of a recession as earnings typically fall much more drastically in a downturn.— Yun LiStocks are struggling for directionThe market can't seem to pick a trend in early trading. The major averages wavered between gains and losses for most of the month's first hour of trading. The Dow Jones Industrial Average, for example, fell as much as 204 points — only to trade as much as 87 points higher minutes later. As of 10:42 a.m. ET, the 30-stock average was down just 8 points. This choppy trading action comes amid somewhat weak market breadth. Roughly four stocks declined at the New York Stock Exchange for every three advancers. Meanwhile, just 193 S&P 500 stocks were positive on the day. To be sure, these moves come amid relatively high volume, at least in early trading. FactSet data shows the SPDR S&P 500 ETF Trust (SPY), which tracks the benchmark index, traded 9.17 million shares between 9:30 a.m. and 9:59 a.m. ET. That's well above an average of 7.29 million shares traded in that time period. The SPY has also topped its average volume for the 10 a.m.-10:59 a.m. time frame, with 19.36 million shares having exchanged hands.—Fred ImbertManufacturing index hits lowest since June 2020 as price increases slowA worker builds frames for solar panels at First Solar in Perrysburg, Ohio July 8, 2022.Megan Jelinger | ReutersManufacturing expanded in July for the 26th straight month, but at the slowest pace since June 2020, according to the latest Institute for Supply Management reading.The index registered a 52.8 reading for the month, representing the percentage of businesses seeing growth for the month. The number fell slightly from June's 53 reading, but was a bit above the Dow Jones estimate for 52.1.Importantly, one big reason for the low reading was a massive slide in the prices index, which tumbled 18.5 points to 60. Though the number indicates that price increases are still strong, the relative decline is significant for an economy with an inflation rate running at its fastest pace since the early 1980s. The monthly decline in the index was the biggest fall since June 2010.In another encouraging development, the employment index rose to 49.9, still barely in contraction territory but 2.6 points higher than June. New orders dropped to 48 while inventories edged higher to 57.3.Comments from participants indicate that inflation and supply chain bottlenecks remain a concern.""Growing inflation is pushing a stronger narrative around pending recession concerns. Many customers appear to be pulling back on orders in an effort to reduce inventories,"" said one respondent in the food, beverage and tobacco products industry.— Jeff CoxOil leads the sell-off, Cramer says Declining oil prices are the main contributor to the early sell-off hitting markets, according to Jim Cramer.""This sell-off by the way is all oil, which is really rather amazing,"" he said on CNBC's ""Squawk on the Street"" on Monday. Oil prices slipped on the back of weak manufacturing data from China and Japan and ahead of a meeting of OPEC officials. Brent crude at one point dipped below $100 a barrel. — Samantha SubinConsumer sectors buck market's negative trendBoth the consumer staples and consumer discretionary sectors traded higher Monday, bucking a broader market decline. The S&P 500 staples sector advanced nearly 1%, while consumer discretionary gained 0.8%. Colgate-Palmolive led staples with a 2.6% gain. Dollar Tree, Dollar General and Target advanced more than 2% each to lead discretionary stocks higher. Tesla, which is also part of the discretionary sector, gained 4.2%.—Fred ImbertEnergy stocks fall as oil slumpsThe weakness in oil prices was weighing on major energy stocks in early trading.Shares of Diamondback Energy fell 3.7%, while ExxonMobil slid more than 2%. Chevron dipped 1.6%. Devon Energy and Occidental Petroleum shed 2.6% and 1.5%, respectively.Futures for U.S. benchmark West Texas intermediate crude were last down more than 5%, trading at roughly $93.30 per barrel. European benchmark Brent crude fell more than 4% to break below $100 per barrel.— Jesse PoundStocks fall to kick off Monday Stocks fell to start Monday's session, kicking off August in the red. The Dow Jones Industrial Average slipped 154.4, points, or 0.47%. The S&P 500 fell 0.81% and the Nasdaq Composite dropped 0.90%.— Carmen ReinickeTech shares set to lead the market lowerTechnology shares, among the best performers since the market bottomed in mid-June, were set to fall slightly on Monday. Apple, Microsoft, Alphabet were all in the red in premarket trading. Apple shares are up 25% since the S&P 500's bottom on June 16 through Friday. Microsoft is up 14% and Alphabet is 10% higher over the same period.— John MelloyHere are the reasons why the bottom is not in yet, according to BofA's SubramanianIt's too soon to call the bottom even as the S&P 500 just enjoyed its best month since November 2020, according to BofA Securities head of U.S. equity and quantitative strategy Savita Subramanian.The strategist said the stock market typically bottoms after earnings estimates get slashed dramatically, but that hasn't happened yet.""Was June low the big low? We need more EPS cuts,"" Subramanian said in a note. ""We are still in the very early innings of downturn and estimate cuts.""During the prior five recessions except in 1990, the S&P 500 bottomed after estimates were revised down, but today, estimate cuts are just starting and forward earnings per share is still up 7% since the market peak, the strategist said.Secondly, Bank of America's bull market signposts indicate it's premature to call a bottom. Subramanian said historical market bottoms were accompanied by over 80% of these indicators being triggered, and now just 30% are triggered.Lastly, she said bear markets always ended after the Federal Reserve started to cut interest rates, which is a scenario that's at least six months away.— Yun LiBoeing rises in premarket tradingA Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, March 31, 2017.Randall Hill | ReutersShares of Boeing rose more than 4% in premarket trading, helping to trim the overnight losses for futures.The move comes after the Wall Street Journal and Reuters reported over the weekend that U.S. regulators approved the company's planned inspection changes to the 787 Dreamliner.Additionally, a potential strike among Boeing machinists in St. Louis was averted until at least Wednesday, when the workers will vote on a new contract.Boeing's stock has been hot in recent weeks, rising more than 16% in July.— Jesse PoundStock futures slumpStock futures fell back into the red on Monday ahead of market open, erasing earlier gains. Dow Jones Industrial Average futures shed 49 points, or 0.15%. S&P 500 futures and Nasdaq 100 futures slipped 0.27% and 0.17%, respectively.— Carmen ReinickeOil prices move lower on demand concerns Oil prices declined during Monday morning trading on Wall Street after soft manufacturing data out of China prompted demand slowdown concerns. West Texas Intermediate crude, the U.S. oil benchmark, shed 2.3%, or $2.31, to trade at $96.31 per barrel. International benchmark Brent crude dipped 1.8% to $102.07 per barrel. WTI rose 4.14% last week, for its first positive week in four. However, it ended July in the red for its second straight losing month. — Pippa StevensStock futures climb back from overnight lowsStock futures rose from overnight lows to trade flat Monday morning ahead of the open. Both Dow Jones Industrial Average futures and Nasdaq 100 futures turned positive, trading slightly in the green. S&P 500 futures were still negative but gained from trading overnight. — Carmen ReinickeU.S. Dollar lowest since July 5 U.S. dollar bills seen on display. The euro nursed losses on Wednesday after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground ahead of an expected U.S. interest rate hike later in the day.Igor Golovniov | Lightrocket | Getty ImagesThe dollar index sank to 105.311 Monday, its lowest level since July 5 as investors bet that the Federal Reserve's rate hikes will tip the economy into recession. Year to date, the index is still up nearly 10%.The dollar slumped to 131.87 against the yen, its lowest in six weeks.Both the Euro and the Pound gained against the dollar as well, hitting the highest levels against the currency since July 21 and June 28, respectively.The Australian dollar also rose to 0.7046 against the dollar.— Carmen ReinickeBitcoin edges lower after posting its best month of the yearBitcoin fell about 3% early Monday after coming off its best month of 2022, as stock futures took a small dip. The cryptocurrency rallied on Wednesday through Friday as investors responded to updates from the Federal Reserve about its rate hiking path as well as the latest GDP report, and pulled back over the weekend as the possibility that the market has likely hit a bottom began to settle in. Bitcoin continues to trade in tandem with stocks, whose major indexes also notched their best months of the year Friday.""Bitcoin may be struggling to break above the $24,000 level, but its weekly candle finally closed above the 200-week moving average and that could improve the technical sentiment significantly,"" said Yuya Hasegawa, crypto market analyst at Japanese crypto exchange Bitbank. ""In case of break out, the price could retrace its June loss and could go as high as $32,000.""— Tanaya MacheelTarget shares rise on upgradeA Target store in New York, on Thursday, July 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesStrong July sets up S&P 500 for more gains in August and September, Bank of America saysThe Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New New York, January 16, 2019.Carlo Allegri | ReutersThe market's strong performance in July could be lead to more gains in August and September, data compiled by Bank of America shows.Stephen Suttmeier, a technical strategist at the bank, said in a note that, when the S&P 500 rises 5% or more in July, ""August and September show stronger seasonality vs when July is not up 5% or more and for all years back to 1928.""More specifically, the benchmark index averages a return of 2.01% in August after such a strong July, with the S&P 500 rising 59% of the time. September, meanwhile, is up 55% of the time and averages a return of 0.73% in these scenarios.The S&P 500 rallied 9.1% in July, marking its biggest one-month gain since November 2020.— Fred ImbertEuropean markets make a cautious start to August trading; HSBC up 6%— Elliot SmithAlibaba says it will try to keep U.S., Hong Kong listingsSignage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015.Brendan McDermid | ReutersChinese e-commerce giant Alibaba said it will comply with U.S. regulators and work to maintain its listings in New York and Hong Kong.""Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange,"" it said in a statement to the Hong Kong bourse.The statement came after Alibaba was added to the U.S. Securities and Exchange Commission's list of Chinese companies at risk of being delisted for not meeting auditing requirements on Friday. U.S.-listed Alibaba shares plunged 11% in the Friday trading session.— Sumathi BalaWall Street analysts back these 'safe-haven' consumer stocks to outperform — even if spending slowsInflation is hitting consumers' wallets, and the economy looks to be slowing.With the consumer accounting for 68% of all economic activity in the first quarter, it is a key metric to watch.What does all of this mean for consumer-related companies, and will they hold up in a recession? Wall Street analysts pick the consumer stocks they say are resilient, even as the economy slows. Pro subscribers can read more here.— Weizhen TanGrowth in Chinese factory activity slowed in July, private survey showsChinese factory activity grew in July, but at a slower pace than in June, according to the latest Caixin/Markit manufacturing Purchasing Managers' Index.The private survey print came in at 50.4, down from 51.7 in June.PMI readings are sequential and represent expansion or contraction from the month before. A figure above 50 represents growth.Over the weekend, official data from the National Bureau of Statistics showed that factory activity declined, with the PMI at 49.— Abigail NgEarnings season numbers So far, 56% of companies in the S&P 500 have reported results for the second quarter 2022. Of those, 73% have reported EPS results above analyst estimates, according to FactSet.That means that so far, blended earnings growth – including both companies that have reported and estimates for those reporting later – is 6% for the second quarter. That's higher than the blended earnings growth seen in last week.Still, if the actual earnings growth rate is 6% at the end of the season, it will mark the lowest earnings growth rate for S&P 500 companies since the fourth quarter of 2022.Revenue, on the other hand, is outperforming earnings. The blended revenue growth rate so far is 12.3%, up from last week and last quarter. If the actual revenue growth rate is 12.3% it will mark the sixth-straight quarter of year-over-year revenue growth of more than 10% for the index.— Carmen ReinickeStats for the end of July All three major indexes ended the day higher on Friday, capping off a solid month of trading in July. Here are other key stats about how stocks traded last month.The Nasdaq composite closed more than 22% from 52-week highs, while the S&P 500 and the Dow closed more than 14% and 11% from their 52-week highs, respectively.The Dow gained 6.73% in July, its best month since Nov. 2020. It was also the S&P 500's best month since Nov. 2020. It gained 9.11% in July.The Nasdaq composite gained 12.35% in July and broke a three-month losing streak. It was the best month for the index since April 2020.Only health care, consumer staples and utilities sectors closed within 10% of 52-week highs. Still, all 11 sectors were positive in the month of July.U.S. Treasury yields were lower on Friday, narrowing spreads.— Carmen ReinickeLast week in the stock market Investors are still watching for signs that the U.S. is in a recession and that inflation is slowing down. Last week, the Federal Reserve increased its benchmark interest rate by another three-quarters of a percentage point to stave off high inflation.The first reading of second-quarter GDP on Thursday was negative, potentially pointing to a technical recession. On Friday, the June personal consumption expenditures hit the highest level since January 1982. The report is a key inflation measure.Solid earnings reports from Amazon and Apple boosted each company stock and lifted the indexes higher to round out July. Energy companies such as Chevron and Exxon Mobil also rose on better-than-expected reports, ending Friday higher. Not all earnings have been rosy, however. Meta Platforms and Intel both posted disappointing results, sending shares lower.— Carmen ReinickeStock futures open lowerStock futures opened just slightly lower to start trading Sunday evening.Dow and S&P 500 futures were lower by 0.2%. Nasdaq futures were off by about 0.3%.— John MelloyWhat's ahead this weekStocks enter the typically volatile month of August with a tailwind. There are dozens of earnings reports in the week ahead, with more than 20% of the S&P 500 companies reporting. There is also key data, with Friday's July jobs report the most important. Big economic reports could become important catalysts now that the Federal Reserve has indicated it is going to rely on data for its decision on how much to raise interest rates in September. Fed Chairman Jerome Powell said the labor market remains strong, and investors worried about an economic slowdown will be carefully watching to see how strong job creation remains. There are 250,000 jobs expected. According to CFRA, since 1995, the S&P 500 has averaged a 0.5% decline in August. Strategists say earnings could remain a positive force.""A lot of this is better than feared. If that process continues, it's likely to help the market grind higher. The market seems to be sitting on this notion that we had priced in Armageddon and thus far, that has not been thrust upon us,"" said one strategist.— Patti Domm",Stocks slip to begin August following their best month since 2020.
"Register now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - A return to the 2015 nuclear deal remains the best outcome for the United States, Iran and the world, U.S. Secretary of State Antony Blinken said at global nonproliferation discussions at the United Nations on Monday.U.S. Secretary of State Antony Blinken addresses the United Nations General Assembly during the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoBlinken also repeated a U.S. warning that North Korea is preparing to conduct its seventh nuclear test.U.S. President Joe Biden said earlier that Washington was ready to outline a new nuclear arms deal with Russia and called on Moscow to demonstrate its ability to negotiate in good faith at the talks that began on Monday. read more Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Simon Lewis; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.","Return to nuclear deal remains the best outcome for U.S., Iran, the world - Blinken."
"Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China's semiconductor sector advances and protect U.S. companies.If President Joe Biden's administration proceeds with the move, it could also hurt South Korean memory chip juggernauts Samsung Electronics Co Ltd (005930.KS) and SK Hynix Inc (000660.KS), the sources said, speaking on condition of anonymity. Samsung has two big factories in China while SK Hynix Inc is buying Intel Corp's (INTC.O) NAND flash memory chips manufacturing business in China.The crackdown, if approved, would involve barring the shipment of U.S. chipmaking equipment to factories in China that manufacture advanced NAND chips.Register now for FREE unlimited access to Reuters.comIt would mark the first U.S. bid through export controls to target Chinese production of memory chips without specialized military applications, representing a more expansive view of American national security, according to export control experts.The move also would seek to protect the only U.S. memory chip producers, Western Digital Corp (WDC.O) and Micron Technology Inc (MU.O), which together represent about a quarter of the NAND chips market.NAND chips store data in devices such as smartphones and personal computers and at data centers for the likes of Amazon (AMZN.O), Facebook and Google (GOOGL.O). How many gigabytes of data a phone or laptop can hold is determined by how many NAND chips it includes and how advanced they are.    Under the action being considered, U.S. officials would ban the export of tools to China used to make NAND chips with more than 128 layers, according to two of the sources. LAM Research Corp (LRCX.O) and Applied Materials (AMAT.O), both based in Silicon Valley, are the primary suppliers of such tools.All the sources described the administration's consideration of the matter as in the early stages, with no proposed regulations yet drafted.Asked to comment on the possible move, a spokesperson for the Commerce Department, which oversees export controls, did not discuss potential restrictions but noted that ""the Biden administration is focused on impairing (China's) efforts to manufacture advanced semiconductors to address significant national security risks to the United States.""FAST-GROWING COMPANYMemory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File PhotoYMTC, founded in 2016, is a rising power in manufacturing NAND chips. Micron and Western Digital are under pressure from YMTC's low prices, as the White House wrote in a June 2021 report. YMTC's expansion and low-price offerings present ""a direct threat"" to Micron and Western Digital, that report said. The report described YMTC as China's ""national champion"" and the recipient of some $24 billion in Chinese subsidies.YMTC, already under investigation by the Commerce Department over whether it violated U.S. export controls by selling chips to Chinese telecoms company Huawei, is in talks with Apple Inc (AAPL.O) to supply the top U.S. smartphone maker with flash memory chips, according to a Bloomberg report.LAM Research Corp, SK Hynix and Micron declined comment on the U.S. policy. Samsung, Applied Materials Inc, YMTC and Western Digital Corp did not immediately respond to requests for comment.CONGRESS ACTSTensions between China and the United States over the tech sector deepened under Biden's predecessor Donald Trump and have continued since. Reuters reported on July 8 that Biden's administration is also considering restrictions on shipments to China of tools to make advanced logic chips, seeking to hamstring China's largest chipmaker, SMIC (0981.HK). read more The U.S. Congress last week approved legislation aimed at helping the United States compete with China by investing billions of dollars in domestic chip production. read more Chipmakers that take money under the measure would be prohibited from building or expanding manufacturing for certain advanced chips, including advanced memory chips at a level to be determined by the administration, in countries including China. read more According to Walt Coon of the consulting firm Yole Intelligence, YMTC accounts for about 5% of worldwide NAND flash memory chip production, almost double from a year ago. Western Digital stands at about 13% and Micron 11%. Coon said YMTC would be greatly hurt by restrictions like those that Biden's administration is contemplating.""If they were stuck at 128, I don't know how they would really have a path forward,"" Coon said.Production of NAND chips in China has grown to more than 23% of the worldwide total this year from under 14% in 2019, while production in the United States has decreased from 2.3% to 1.6% over the same period, Yole data showed. For the American companies, nearly all of their chip production is done overseas.It was unclear what impact the potential restrictions might have on other players in China. Intel, which retains a contract to manage operations in the factory it is selling to SK Hynix in China, is already producing memory chips with 144 layers at the Chinese site, according to an Intel press release.Register now for FREE unlimited access to Reuters.comReporting by Alexandra Alper and Karen Freifeld; Additional reporting by Stephen Nellis; Editing by Chris Sanders and Will DunhamOur Standards: The Thomson Reuters Trust Principles.",U.S. considers crackdown on memory chip makers in China.
"CBS Mornings August 1, 2022 / 2:00 PM / CBS News Resources provided for Puerto Rico beach town Puerto Rico officials respond to lack of medical care in beach town with resources 02:26 Officials in Puerto Rico said Monday that they're adding six paid paramedics to Culebra — an island and tourist destination of around 1,800 where residents and tourists have reported a lack of critical emergency medical services. The announcement comes a week after ""CBS Mornings"" lead national correspondent David Begnaud reported on the island's conditions.Puerto Rico's government said it's also hiring six paramedics to work at Vieques, another island south of Culebra. The salary for all 12 positions was bumped to $2,250 a month, up from $1,725, officials said. Each paramedic will also receive an additional $1,250 stipend, they said.Days after Begnaud's story aired last week, Puerto Rico's government said the main island was sending a team of two paramedics to Culebra to work seven days a week from 7 a.m. to 3 p.m. local time. Before that, the small island — which has recorded 18 known recorded drowning deaths since 1994 — had no working paramedics or available ambulances stocked with necessary emergency supplies.  On Puerto Rico's world-renowned Flamenco Beach there were no working lifeguards present to watch over the beach until recently. Families of Flamenco Beach drowning victims previously spoke with Begnaud about the devastating impacts a lack of such care has had. The Bureau of Emergency Medical Corps of Puerto Rico on Thursday shared pictures of officials meeting with Culebra mayor Edilberto Romero Llovet, who recently told Begnaud that he's trying to change the island's conditions.  Paramédicos estatales refuerzan las labores en Culebra con personal que brindará servicios por turnos en la Isla Municipio. El director de Operaciones del NCEM, Víctor Fargas, se reunió con el alcalde Edilberto Romero, y visitaron el Centro de Salud Menonita y Flamenco. pic.twitter.com/BPwDslgkF7— Negociado del Cuerpo de Emergencias Médicas (@CEMPRESTATAL) July 28, 2022 Puerto Rico's department of public health says they've sent Begnaud's reporting to members of Congress and have asked for funding to permanently fix the situation that has plagued Culebra for years.  In: Puerto Rico David Begnaud David Begnaud is the lead national correspondent for ""CBS Mornings"" based in New York City. Twitter Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Puerto Rico announces new paramedic positions at two popular islands after ""CBS Mornings"" report on drownings, lack of critical emergency services."
"Pound and U.S. dollar banknotes are seen in this illustration taken January 6, 2020. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Sterling rallied on Monday against the euro and the dollar as an upbeat mood on broader financial markets helped the British pound and as traders prepared for a Bank of England policy meeting this week at which it is expected to again raise rates.Investors have shifted to pricing in an 80% chance of a 50 basis point hike from the BoE, which will announce its decision on Thursday, as policymakers globally accelerate the pace of rate rises to fight soaring inflation.The pound was little moved by survey data on Monday showing British manufacturing output and new orders declined in July at the fastest rate since May 2020, with expectations for a slowing economy priced in by many traders. read more Register now for FREE unlimited access to Reuters.comIt extended an initial rise in later European trading to hit as high as $1.2274, up 0.7% on the session and its strongest since June 28. Against the euro, sterling rose 0.4% to 83.56 near a three-month high of 83.46 touched on Thursday.""Expect a bit of a wait-and-see approach in GBP price action heading into Thursday's Bank of England rate announcement. A look at rate expectations shows that the market is now fully pricing in a 50-bps move, which is also our base-case scenario,"" ING analysts said in a research note sent out to clients.""Still, we see a non-negligible risk of some pushback against the market’s hawkish pricing, which could trigger some weakness in the pound.""The pound has struggled versus the dollar in recent months, although its moves have mostly been driven by dollar-specific developments, such as a rush for safety and the Federal Reserve's more aggressive stance on tightening policy.Versus the euro, sterling has held up far better. The single currency has been weighed down by concerns about a euro zone recession and the fallout from soaring natural gas prices and shortages.Register now for FREE unlimited access to Reuters.comReporting by Tommy Reggiori Wilkes; Editing by Kim Coghill and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.","Sterling hits 1-month high, shrugs off factory data ahead of BoE."
"Pipers from the Edinburgh Military Tattoo Massed Pipes and Drums perform during the Edinburgh Fringe Festival parade in Holyrood Park in Edinburgh, Scotland, August 9, 2009.Register now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Self-described working class playwright Kieton Saunders-Browne used to think the Edinburgh Fringe wasn't for people like him - until a fund set up to draw a more diverse cast of performers to the world's largest arts festival stepped in to help.The 24-year-old Londoner, of Irish and Caribbean heritage, is using a grant from the Generate Fund to stage his play ""Block'd Off"", which runs at the city's Pleasance Theatre from Aug. 3, and break the cycle of deprivation that is central to the work.Even more than race, class is the issue that touches everyone and ""transcends everything,"" Saunders-Browne contends, and yet, working class stories tend to be untold.Register now for FREE unlimited access to Reuters.com""The reason they're not there is because, almost in a scientific way, working class people have different struggles to deal with,"" he said.""You can’t do art, if you have no food, if you don’t know when you’re going to be physically safe.""Unlike stereotypical Edinburgh Fringe artists, safe in the knowledge they can fall back on family money, Saunders-Browne said his mother's household budget was 3,000 pounds ($3,650) a year. That's less than the 5,000 pounds he got from the fund, which was set up by the Pleasance for Black, Asian and Global Majority Artists.He was nevertheless determined to act and won a scholarship to the London Academy of Music and Dramatic Art (LAMDA).His play's characters, male and female - including drug dealers and a white, middle class tutor who tries to help - are all played by one woman, Camila Segal. She says the play fits into a theatrical trend of ""moving towards authenticity"".Segal left Brazil at the age of 10 after an aunt provided money for her mother to take her to England in pursuit of a better life.""I feel like I am this play,"" she said. ""This is extremely personal for me.""Celebrating its 75th anniversary, the Edinburgh International Festival, and the Fringe that formed around it, was founded in the aftermath of World War Two with the goal of using culture to heal divisions.That ambition has never felt more relevant.Anthony Alderson, artistic director at the Pleasance, says attracting the greatest range of people is crucial to narrowing gaps in society that have widened during the COVID-19 pandemic and as inflation has surged.The Pleasance is not the only venue with schemes to support diversity. The nearby Assembly says its performances are selected ""regardless of age, class, gender, or race"".Their success will become clear by the end of Edinburgh's first fully live festival since the pandemic.Ticket sales have yet to match the records of 2019.""The risks involved in mounting this festival are immense for everyone involved,"" Alderson said. ""Break-even is incredibly difficult to achieve.""($1 = 0.8220 pounds)Register now for FREE unlimited access to Reuters.comReporting by Barbara Lewis and Sarah Mills; additional reporting by Natalie Thomas and Carolyn Cohn; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.","At 75, Edinburgh Festival more intent than ever on healing divisions."
"Sen. Kyrsten Sinema, D-Ariz., and Sen. Joe Manchin, D-W.Va., board an elevator after a private meeting between the two of them on Capitol Hill on Thursday, Sept. 30, 2021 in Washington, DC.Jabin Botsford | The Washington Post | Getty ImagesThe political network backed by billionaire Charles Koch launched an ad blitz targeting Sens. Joe Manchin and Kyrsten Sinema to get the moderate Democrats to block a massive spending-and-tax package that's advancing in the Senate.The bill, known as the Inflation Reduction Act of 2022, promises to raise $739 billion in new revenue — mostly by setting a minimum corporate tax rate and making changes to Medicare drug pricing — to help pay for $433 billion in climate and health initiatives.The legislation is a pared back version of President Joe Biden's Build Back Better plan, which failed earlier this year after Manchin and Sinema opposed key elements of the bill. The legislation has a renewed chance of passing after Manchin reached a deal last week on a smaller tax-and-spending package with Senate Majority Leader Chuck Schumer, D-N.Y. It represents one of the most important pieces of legislation for Democrats as they fight to hold onto the Senate with the November midterms just under 100 days away. Manchin and Sinema, who are both up for reelection in 2024, represent key votes in the Senate, with the chamber split 50-50.Americans for Prosperity, which is part of the larger Koch network, launched two ads on Saturday on its Facebook, Twitter and YouTube pages. The ads specifically call out Manchin and Sinema, encouraging them to oppose the legislation. ""Senator Manchin can stop it. Come on Joe...Say NO for West Virginia,"" the Manchin ad says. The Sinema ad has an almost identical look, only that ad concludes by stating ""Senator Sinema can stop it. Come on Kyrsten... Say NO for Arizona.""Each ad by the Koch backed group calls the bill a ""$739 billion tax hike that will raise prices & make American energy more expensive."" The group's posts on their media platforms link to an online messaging portal, allowing supporters to call on lawmakers to oppose the legislation.Facebook's ad archive shows that the spots were playing in Manchin and Sinema's respective states of West Virginia and Arizona, as well as in Washington D.C.Bill Riggs, a spokesman for Americans for Prosperity, told CNBC in an email on Monday that the ad campaign versus the reconciliation bill is a six figure buy on digital platforms and connected TV. He said they are planning to expand this week to targeting fellow Democrats Sens. Raphael Warnock, D-Ga., Catherine Cortez Masto, D-Nev., and Maggie Hassan, D-N.H. All three of those Democrats are up for reelection in 2022 states that are expected to be competitive. Sinema and Manchin aren't up for reelection until 2024.The Stand Together Chamber of Commerce, which was founded by Charles Koch, contributed $40 million to Americans for Prosperity in 2020, according to the group's latest financial disclosure. Koch is also the CEO of the massive conglomerate known as Koch Industries, which owns multiple energy subsidiaries.Manchin has said this bill isn't a spending package and doesn't raise taxes but instead is more focused on investing money. Sinema has yet to publicly comment on the bill.Representatives for Manchin and Sinema did not return requests for comment.The West Virginia lawmaker reached a deal with Schumer last week about the massive reconciliation package that aims to reform the tax code, fight climate change and cut health-care costs for consumers. The bill, if passed, would impose a 15% corporate minimum tax and close the carried interest loophole that allows hedge fund managers and private equity partners to pay lower taxes.Still, for both lawmakers, this is the latest attempt by an outside group with ties to corporate executives to try to sway their vote. The Koch network targeted both Sinema and Manchin throughout the 2022 election cycle. Americans for Prosperity leaders previously called on their grassroots supporters to push Manchin to oppose some of his party's legislative priorities.Corporations and their executives have also poured money into Manchin and Sinema's reelection campaigns. Manchin's campaign raised over $1 million over the past three months, which included contributions from several energy companies, including Coterra Energy, NextEra Energy and Xcel Energy.Federal Election Commission records show Sinema' s campaign also received donations from chemical company Dow Inc., pharmaceutical giant Eli Lilly and telecom behemoth Verizon, among other corporations, over that same time period.","Koch network pressures Sens. Manchin, Sinema to oppose $739 billion tax-and-spending bill."
"U.S. August 1, 2022 / 12:53 PM / CBS News A man in California was mauled to death by a pack of dogs on Sunday, the Selma Police Department said in a press release. When police arrived on scene, an individual was attempting to separate the dogs from the 59-year-old victim.First aid was administered and the man, who has not been identified, was taken to a hospital, where he died, the department said. The number of dogs involved or type of breed was not specified.The dogs escaped from a nearby residence and attacked the man while he was walking through the neighborhood, investigators learned. The person who tried to help the man was also bitten by one of the dogs and suffered a minor injury. The dogs were captured by officers and are being quarantined. The owner of the dogs is cooperating with officials. CBS News has reached out to the Selma Police Department for further information.In 2020, the U.S. recorded 46 dog-bite-related fatalities, according to DogsBite.org, a nonprofit that collects data from news and police reports. Eight fatal dog attacks in 2020 ""resulted in meaningful criminal charges,"" which is below the 15-year average of 20%, according to the nonprofit. According to the most recent data provided by the nonprofit, Illinois led all states in lethal dog attacks with six deaths in 2020. Florida had five deaths while California, Georgia and Louisiana each had three deaths.However, dog bites were underreported in California and Texas in 2020, according to the nonprofit. The two states combined had an average of 8.8 dog-bite fatalities per year between 2015 and 2019. In 2020, that number fell to five.Last month, seven dogs mauled a 71-year-old man to death in an unprovoked attack in Texas, police said. The dogs' owner, 47-year-old Samuel Cartwright, is facing felony charges after his seven pit bull mix dogs attacked and killed Freddy Garcia during a store run in Fresno, Texas, the Fort Bend County Sheriff's Office said.Emergency personnel airlifted Garcia to Memorial Hermann-Texas Medical Center in Houston where he was pronounced dead, Fort Bend County Sheriff Eric Fagan said during a press conference.  More than 4.5 million people are bitten by dogs each year in the U.S. and about 1 in 5 — more than 800,000 — receive medical attention, according to the CDC. At least half of dog-bite victims are children. Dogs can bite for a number of reasons, including being sick, being in a stressful situation, being scared or startled or to protect something valuable to them like puppies, a toy or food. It is up to dog owners to prevent their dog from biting, according to the CDC, which provides resources for dog owners.While some states have a one-bite rule — meaning the dog owner is not liable for a dog bite unless the dog was known to have bitten before — California has a strict liability law. Under the state's law, the dog owner ""is liable for the damages suffered by any person who is bitten by the dog while in a public place or lawfully in a private place, including the property of the owner of the dog, regardless of the former viciousness of the dog or the owner's knowledge of such viciousness."" In: Dog Attack Caitlin O'Kane Caitlin O'Kane is a digital content producer covering trending stories for CBS News and its good news brand, The Uplift. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Man mauled to death by a pack of dogs in California neighborhood.
"Starbucks Workers United t-shirts hang outside while unionized workers strike for unfair labor practices outside a Starbucks location on 874 Commonwealth Avenue in the Brookline neighborhood of Boston, Massachusetts, US, on Tuesday, July 19, 2022.Scott Brauer | Bloomberg | Getty ImagesWith pay increases set to kick in at Starbucks cafes around the U.S. on Monday, labor organizers are asking the coffee giant to extend the benefits to unionized stores as well without going through the bargaining process.The request comes after Starbucks announced in May that it would hike wages for workers and add other benefits such as credit card tipping by late this year. But the Seattle-based coffee chain said it wouldn't offer the enhanced benefits to workers at unionized stores because it needs to go through bargaining to make such changes.In a letter to Starbucks CEO Howard Schultz obtained by CNBC, Workers United said the company can legally offer benefits to employees at unionized stores without bargaining, as long as the union agrees. The letter notes other companywide benefits announced in recent months, including faster sick time accrual and medical travel reimbursement for employees seeking abortions or gender-reaffirming care.""Workers United refuses to stand by while Starbucks cynically promises new benefits only to non-unionized workers and withholds them from our members,"" states the letter from Lynne Fox, president of Workers United, to Schultz last month.The letter notes the union is not waiving any other bargaining obligation that Starbucks has under federal law.About 200 Starbucks stores have unionized so far, while 40 have voted not to unionize, according to the National Labor Relations Board. Starbucks has roughly 9,000 locations in the U.S.When contacted about the union's request, Starbucks pointed to a factsheet on its website that states, ""The law is clear: once a store unionizes, no changes to benefits are allowed without good faith collective bargaining.""The company's site says workers have access to Starbucks benefits that were in place when the union petition was filed, but that any subsequent changes to wages, benefits and working conditions have to be bargained.Labor lawyers say the case could wind up before an administrative law judge at the National Labor Relations Board.""Once a union has been certified, an employer is obligated to bargain with that union before making any changes to terms and conditions of employment,"" said Stephen Holroyd, lawyer at Jennings Sigmond who has represented unions and worked for the NLRB.But he said that the union greenlighting the benefits without bargaining changes the situation, and that it could argue Starbucks is withholding the benefits because of its organizing campaign.Daniel Sobol, a lawyer at Stevens & Lee who has represented companies in union cases, said the NLRB and federal courts have disagreed on the issue.""If [benefit enhancements are] done solely to chill unionizing, that could be an issue,"" he said. But with employers adjusting wages in the inflationary environment, he said Starbucks might not be obligated to give the raises to unionized employees.Gabe Frumkin, an attorney for Starbucks Workers United, said it's clear the benefits are being offered in response to the union drive. He said Workers United has filed two charges tied to Starbucks' wage and benefits announcements for nonunionized stores and is considering further options.Catherine Creighton, director of Cornell University's Industrial and Labor Relations School in Buffalo, New York, said the law requires companies to give a union notice of a new benefit and the opportunity to bargain over it. But she said that, ""if the union says they have no objection, then the employer can absolutely give them that benefit.""The pay hikes going into effect this week include a raise of at least 5%, or a move to 5% above market rate, whichever is higher, for employees with at least two years experience. Employees with more than five years of experience get a raise of at least 7%, or move to 10% above market rate, whichever is higher. The increases are in addition to a previously announced hike kicking in this month that gets wages to a floor of $15 an hour nationally. That increase is available to stores that did not start organizing before it was announced.Starbucks has said it plans to spend $1 billion on wage hikes, improved training and store innovation during its fiscal 2022. When Schultz returned to his role as CEO for a third time, he suspended the company's buyback program to invest in workers and stores.","Starbucks union asks coffee giant to extend pay hikes, benefits to unionized stores."
"Model of petrol pump is seen in front of U.S. and Iran flag colors in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States on Monday imposed sanctions on Chinese and other firms it said helped to sell tens of millions of dollars' in Iranian oil and petrochemical products to East Asia as it seeksto raise pressure on Tehran to curb its nuclear program.The U.S. Treasury and the U.S. State Departments imposed sanctions on a total of six companies, four based in Hong Kong, one in Singapore, and one in the United Arab Emirates (UAE) in actions that were announced in separate statements.The Treasury accused Persian Gulf Petrochemical Industry Commercial Co. (PGPICC), one of Iran's largest petrochemical brokers, of using the firms to facilitate the sale of Iranian petroleum and petrochemical products to East Asia.Register now for FREE unlimited access to Reuters.comThe Treasury targeted UAE-based Blue Cactus Heavy Equipment and Machinery Spare Parts Trading L.L.C., which it said helped sell millions of dollars of Iranian-origin petroleum products to Hong Kong-based Triliance Petrochemical Co. Ltd., which has previously been sanctioned by the United States.It also targeted Hong Kong-based Farwell Canyon HK Limited and Shekufei International Trading Co., Limited for facilitating such sales for onward shipment to buyers in East Asia.The Treasury accused PGPICC of using the firms' bank accounts, along with those of Hong Kong and Malaysia-based PZNFR Trading Limited, to collect millions of dollars in proceeds.Separately, the State Department sanctioned Singapore-based Pioneer Ship Management PTE LTD for allegedly managing a vessel that carried Iranian petroleum products and Hong Kong-based Golden Warrior Shipping, Co. Ltd., for alleged transactions related to Iranian oil and petroleum products.The actions freeze U.S.-based assets and generally bar Americans from dealing with them. Others that engage in certain transactions with the targeted firms also risk being sanctioned.The steps represent the third round of U.S. Iran-related sanctions against Chinese firms in the last two months.Since taking office in 2021, U.S. President Joe Biden has been loath to sanction Chinese entities engaged in oil trade with Iran due to hopes of securing an agreement to revive the 2015 Iran nuclear deal.Efforts to resurrect the deal - under which Iran had curbed its nuclear program in exchange for relief from U.S. and other sanctions - have so far failed, leading Washington to look for other ways to increase pressure on Tehran.""The United States continues to pursue the path of diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action,"" the Treasury's Under Secretary for Terrorism and Financial Intelligence, Brian Nelson, said in the statement, referring to the 2015 deal by its formal name.""Until such time as Iran is ready to return to full implementation of its commitments, we will continue to enforce sanctions on the illicit sale of Iranian petroleum and petrochemicals.""Register now for FREE unlimited access to Reuters.comReporting by Daphne Psaledakis, Arshad Mohammed and Kanishka Singh in Washington; Editing by Bernadette Baum and Andrea RicciOur Standards: The Thomson Reuters Trust Principles.","U.S. targets Chinese, UAE firms in new Iran oil sanctions."
"A Wall Street sign outside the New York Stock Exchange in New York City, New York, U.S., October 2, 2020. REUTERS/Carlo AllegriRegister now for FREE unlimited access to Reuters.comSummaryCompaniesU.S. manufacturing sector slows modestlyPerkinElmer rises on $2.45 billion divestmentIndexes: S&P 500 -0.58%, Nasdaq -0.52%, Dow -0.36%Aug 1 (Reuters) - Wall Street fell on Monday, with declines in energy companies weighing against gains in Boeing (BA.N) as investors digested the U.S. stock market's biggest monthly gains in two years.Stocks gave up some of a strong rally from last week that was driven by bets the Federal Reserve may not be as aggressive with interest rate hikes as some had feared.Also helped by stronger-than-expected second-quarter results, the S&P 500 and the Nasdaq in July posted their biggest monthly percentage gains since 2020.Register now for FREE unlimited access to Reuters.comSome investors on Monday became more cautious in the wake of that recent rally.""There are still a lot of questions about whether we are really out of the woods economically, and we probably aren't,"" said Tom Martin, senior portfolio manager at GLOBALT Investments in Atlanta. ""We're not even close on the (economic) effects of the Fed raising interest rates.""The Federal Reserve says it aims to tame inflation and cool down demand with the interest rate hikes, but some investors and analysts worry that its aggressive moves could drive up unemployment and cripple the economy.U.S. manufacturing activity slowed-less-than-expected in July, with signs that supply constraints are easing, a report showed. read more That data came on the heels of surveys indicating factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 curbs slowed production. read more Oil prices fell on demand concerns, which in turn weighed on the energy sector. The S&P 500 energy index (.SPNY) tumbled 3% and was the deepest decliner among 11 sectors.The factory activity data will be followed by the monthly U.S. jobs report on Friday, which will be parsed for clues about the Fed's next moves in its fight against decades-high inflation.The U.S. central bank has raised interest rates by 2.25 percentage points so far this year and has vowed to be data-driven in its approach toward future hikes.Boeing Co (BA.N) gained about 6% after Reuters reported the U.S. aviation regulator approved the planemaker's inspection and modification plan to resume deliveries of 787 Dreamliners. read more Wall Street has fallen in 2022, however the earnings season has showed companies were far more resilient in the second quarter than estimated. Of 283 S&P 500 companies that have reported results, 78% have topped profit estimates, as per Refinitiv data. The long-term average is 66%.At 1:52 PM ET, the S&P 500 was down 0.58% at 4,106.36 points.The Nasdaq declined 0.52% to 12,325.94 points, while the Dow Jones Industrial Average was down 0.36% at 32,728.07 points.Meanwhile, U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday. China warned that its military would never ""sit idly by"" if she visited the self-ruled island claimed by Beijing. read more PerkinElmer Inc (PKI.N) jumped 6.3% after the medical diagnostic firm said it will sell some of its businesses along with the brand name to private equity firm New Mountain Capital for up to $2.45 billion in cash. read more Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 2.0-to-one ratio.The S&P 500 posted 5 new highs and 31 new lows; the Nasdaq recorded 55 new highs and 87 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh, Devik Jain and Bansari Mayur Kamdar in Bengaluru, and by Noel Randewich in Oakland, Calif.; Editing by Aurora EllisOur Standards: The Thomson Reuters Trust Principles.",Wall Street recedes after biggest month since 2020.
"U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryDollar at lowest level since mid-June against yenAussie dollar upEuro also gains as dollar fallsNEW YORK, Aug 1 (Reuters) - The U.S. dollar was at its lowest level since mid-June against the Japanese yen on Monday as investors weighed the likelihood that the Federal Reserve will not raise interest rates as aggressively as some had expected.The U.S. dollar index was volatile after data showed U.S. manufacturing activity slowed less than expected in July. read more But a key report for investors this week will be the U.S. jobs report on Friday.""It's the beginning of a new month, and the real focus is on the possibility that the Fed slows down its rate hikes,"" said Marc Chandler, chief market strategist at Bannockburn Global Forex in New York.Register now for FREE unlimited access to Reuters.com""The big focus is on the jobs market at the end of the week, and that's likely to confirm that the improvement in the labor market is moderating,"" he said. ""But pre-COVID, it would still be regarded as a very robust number.""The dollar index is up about 10% for the year so far following investor expectations of aggressive Fed rate hikes.""After a big move, I think we're really consolidating,"" Chandler said.Last week, the dollar crumbled against the yen, and two-year yields in the U.S. Treasury market also fell, after data showed the U.S. economy shrank for a second straight quarter. read more The dollar sank to its lowest level versus the yen since mid-June , and was down from a late 1998 peak of nearly 140 yen which it hit last month. The dollar was last down 1.1% at 131.74.The dollar index was last at 105.26, down 0.7%.The broad weakness in the dollar helped the euro , which was up 0.5% at $1.0273.Currency investors were also watching news on U.S. House of Representatives Speaker Nancy Pelosi's expected visit to Taiwan. Pelosi was set to visit Taiwan on Tuesday, two people briefed on the matter said, according to a Reuters report. China has warned that its military would never ""sit idly by"" if she visited the self-ruled island claimed by Beijing. read more The Aussie dollar rose 0.6% to $0.7036 before a central bank rate hike on Tuesday. read more ========================================================Currency bid prices at 11:44AM (1544 GMT)Register now for FREE unlimited access to Reuters.comAdditional reporting by Saikat Chatterjee in London; Editing by Jan Harvey, Jane Merriman and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.",Dollar falls against yen as investors reassess U.S. rate hike outlook.
"Politics August 1, 2022 / 12:52 PM / CBS News Kansas voters on Tuesday will be the first in the nation to have their say on whether abortion should remain constitutionally protected in the state after landmark abortion ruling Roe v. Wade was overturned. And with the future of abortion rights in the state on the ballot, Kansas is seeing a surge in early voting ahead of the primary.Since the Supreme Court rolled back the nearly 50-year-old decision in June, lawmakers in more than a dozen predominantly Republican-controlled states have already moved to ban or further restrict abortion access – and further efforts are expected. The court's decision in Dobbs v. Jackson Women's Health Organization leaves it up to states to decide whether abortion remains legal.In Kansas, the right to an abortion remains protected – at least for now. In 2019, the state Supreme Court ruled personal autonomy is protected in the state constitution's bill of rights and applied strict scrutiny to regulating abortion. An amendment would need to be passed to remove that constitutional right. Kansas voters to decide if abortion should remain constitutionally protected in the state. AP Photos/John Hanna The ""Value Them Both"" Amendment will appear on the ballot for the primary on Aug. 2. A ""yes"" vote for the amendment would affirm there is no constitutional right to an abortion in Kansas and allow the Republican-controlled state legislature to pass new laws further restricting or even banning abortion access. A ""no"" vote against the amendment upholds the protected right to an abortion in the state. The amendment was proposed by the state legislature and put on the ballot in January 2021 with two-thirds of the vote in both chambers. A previous effort to get an abortion amendment on the ballot failed in February 2020 after several Republicans joined Democrats to block it in the Kansas House.""When you read the language of the amendment, it's so clear that this is not a ban on abortion. This just returns the power to the people instead of removing us from the discussion entirely,"" said Danielle Underwood, spokesperson for the Value Them Both Coalition, which includes anti-abortion rights groups Kansans for Life, Kansas Catholic Conference and Kansas Family Voice.They have shied away from publicly saying exactly what limitations on abortion they would like to see passed in the Kansas legislature should the amendment pass. But legal experts say the amendment paves the way for banning abortion in the state.""What is misleading is people saying 'well, it just will allow debate' and suggesting there may be some reasonable discussion about this,"" said University of Kansas law professor Stephen McAllister, who clerked for Justice Clarence Thomas. ""It really is a referendum on whether we're going to let the legislature ban abortion or not."" McAllister said if the amendment passes, he expects the legislature to propose bans starting the first or second day of the next legislative session in January. A ban with very limited exemptions was already introduced in March this year.  ""Under the language of the amendment, it would be possible to adopt a total ban on abortion from the point of conception until birth with no exceptions for rape, incest, for the life and health of the mother,"" said University of Kansas constitutional law professor Richard Levy. While abortion is currently protected in Kansas, there are multiple regulations on the books, some of which have gone unchallenged. Abortion is strictly limited after 22 weeks, the exception being when the woman is in serious physical jeopardy. Patients seeking an abortion are also required to receive an ultrasound and counseling and wait 24 hours. The use of telemedicine to administer abortion is prohibited. Patients under 18 require parental consent.According to a report by the Kansas Department of Health and Environment, nearly 70% of abortions performed in Kansas in 2021 occurred before nine weeks. Just over 20% occurred between 9 and 12 weeks. Only 3.8% occurred between 17 and 21 weeks.""The fact is, the 'no' vote in Kansas is a middle-of-the-road vote. It is a moderate position. It is basically leaving all the regulations that are on the books in place,"" said Ashely All, spokesperson for Kansans for Constitutional Freedom, the main coalition opposing the amendment. Organizations are spending millions on advertising in the state for and against the amendment. According to tracking by AdImpact, Kansans for Constitutional Freedom is spending nearly $6.5 million on advertisements against the amendment; Value Them Both is spending nearly $4.5 million on ads in support of the amendment. Other anti-abortion rights groups have also spent nearly $2 million combined on ads in the state.Putting the amendment on the primary ballot rather than the general election ballot in November has fueled concerns among those who support abortion rights and oppose the amendment. More Republican voters are expected to turn out in August because Republicans have more contested primary elections. In 2020, turnout for the primary was less than half of what it was for the general election in the state. As of Monday morning, more than 271,000 voters had cast ballots in the Kansas primary, a significant increase in early voting from the 2018 midterm primary, in which just under 90,000 ballots had been cast by this time.Of those who voted in the 2022 primary so far, more than 198,000 were early in-person and 73,427 mailed ballots had been returned of the more than 120,000 mailed out. Republicans had a slight lead in voting overall with more than 122,000 ballots cast to Democrats, who had more than 106,000 ballots cast. More than 40,000 unaffiliated Kansans had also voted early. Democratic Gov. Laura Kelly and her likely GOP opponent are on opposite sides of the issue. Kelly has said she believes reproductive decisions should be between a woman and her doctor. In an email to CBS News, her campaign spokesperson Madison Andrus said the governor will ""continue to oppose all regressive legislation that interferes with individual freedoms or threatens the strides we've made in recent years making Kansas a constructive place to do business. That includes opposing efforts to change the state constitution this August."" When Roe was overturned, Republican Kansas Attorney General and Republican governor candidate Derek Schmidt said in a statement he prefers a future with ""less abortion, not more"" and would vote for the amendment. He did not specify what legislation he would like to see should the amendment pass.Since the Supreme Court overturned Roe, Kansas also had seen some uptick in voter registrations. According to vote.org, the state had a 963% increase in individuals starting the voter registration process through the organization's website from the two weeks prior to the court's June 24 decision. But it's unclear if those registering were for or against the amendment.If the amendment passes, Kansas would join four other states that have constitutional amendments stating the state's constitution does not protect the right to an abortion. Those states, Alabama, Louisiana, Tennessee and West Virginia, have all moved to ban or further restrict abortion following the Supreme Court overturned Roe.  In: Roe v. Wade Abortion Elections Sarah Ewall-Wice CBS News reporter covering economic policy. Twitter",Kansas abortion vote: Kansas to vote tomorrow if abortion should remain constitutionally protected in the state.
"Arian Taherzadeh, sketch from detention hearing for the two men charged with impersonating DHS agents.Source: Bill HennessyOne of two men accused of impersonating federal law enforcement officials in a scheme that duped Secret Service agents and others pleaded guilty Monday to multiple charges in Washington, D.C.Arian Taherzadeh's plea came nearly four months after his arrest with Haider Ali exposed allegations that they compromised Secret Service agents with access to the White House — including at least one assigned to protect first lady Jill Biden.It also revealed a cache of weapons and police equipment at apartments the two Washington men maintained.In addition to federal conspiracy, Taherzadeh, 40, as part of his plea also admitted guilt to two District of Columbia offenses: unlawful possession of a large-capacity ammunition feeding device and voyeurism.The latter charge relates to his unauthorized videotaping of women having sex in apartments he leased and rigged with surveillance cameras.Taherzadeh's sentencing date has not been scheduled. He faces a maximum sentence of five years in prison, but federal sentencing guidelines stipulated in his plea agreement suggest he receive a prison term of between 37 months and 46 months.As part of his plea agreement, Taherzadeh agreed to cooperate with federal authorities in their ongoing investigation. He remains free, but cannot leave his home, with few exceptions, as a condition of his court-ordered release after his arrest.Prosecutors said he concocted his elaborate series of fake claims of being a federal agent to obtain multiple apartments for which he failed to pay rent, to promote his own security company, and to ingratiate himself with actual federal officers.Ali, 36, has pleaded not guilty to charges of false impersonation of a federal officer, and to unlawful possession of a large-capacity ammunition feeding device in the case, which is pending in U.S. District Court in Washington. Ali is also under effective house arrest.Prosecutors said that a third person, who was not identified in court filings, participated in the scheme.Taherzadeh in 2018 created a purported private investigative agency called United States Special Police, which despite its name was not associated in any way with the U.S. government, prosecutors said.From late 2018 through April, Taherzadeh falsely claimed to be a special agent with the Homeland Security Department, a member of a federal task force, a former U.S. Air Marshal, and an ex-Army Ranger, according to court filings.He used those claims to cozy up to Secret Service agents, some of whom he gave gifts. Those gifts include a generator and a ""doomsday"" backpack to one agent, and the use of two rent-free apartments for about a year to two other agents, prosecutors said.In all, the gifts to members of the Secret Service were worth more than $90,000, prosecutors said.Taherzadeh's company obtained leases for multiple apartments in three residential complexes in Washington, but did not pay rent, parking fees and other costs, leading to more than $800,000 in losses to the complexes' owners, filings say.And ""Taherzadeh installed surveillance cameras outside and inside his apartment in one of the complexes,"" the U.S. Justice Department said in a press release.""Among other places, he installed, maintained, and utilized cameras in his bedroom. He used these cameras to record women engaged in sexual activity. Taherzadeh then showed these explicit videos to third parties.""Four members of the Secret Service were placed on administrative leave pending further investigation after the arrest of Taherzadeh and Ali.",Man accused of duping Secret Service by posing as Homeland Security agent pleads guilty.
"Masih Alinejad, Iranian journalist and women's rights activist, speaks on stage at the Women In The World Summit in New York, U.S, April 12, 2019. REUTERS/Brendan McDermid/File PhotoRegister now for FREE unlimited access to Reuters.comNEW YORK/WASHINGTON, Aug 1 (Reuters) - An Iranian-American journalist and women's rights activist said it was ""shocking"" to learn that a man had been arrested last week with a loaded AK-47 rifle outside her Brooklyn, New York, home.The journalist, Masih Alinejad, last year was said to be the target of a Tehran-backed kidnapping plot. Alinejad has promoted videos of women violating Iran's head covering law to her millions of social media followers.Khalid Mehdiyev spent two days last week outside the home, and at one point attempted to open the door, an FBI agent wrote in a complaint filed in Manhattan federal court on Friday. Police stopped him after he ran a stop sign and found the gun in the back seat of the car, according to the complaint.Register now for FREE unlimited access to Reuters.comAlinejad said she saw the incident as an attempt on her life by Tehran.""What the Iranian regime did, first trying to kidnap me and now sending someone here trying to kill me, it's a pattern. It's a continuation of their way of oppressing dissidents inside and outside Iran,"" she told Reuters.""I'm not scared of them and I'm going to continue my fight against gender apartheid. Because I didn't do anything wrong, I'm not a criminal, my crime is just giving voice to voiceless people,"" she said.Iran's mission to the United Nations did not immediately respond to a request for comment. Tehran has dismissed allegations of government involvement in the kidnapping plot as ""baseless."" read more The complaint did not identify Alinejad, but she confirmed to Reuters that the home in question was hers. She said she was now in a safe location.U.S. prosecutors last year charged four Iranians, alleged to be intelligence operatives for Tehran, with plotting to kidnap Alinejad, who has contributed to the U.S. government-funded Voice of America Persian language service and reports on human rights issues in Iran. read more Mehdiyev was charged with possessing a firearm with an obliterated serial number. A judge ordered him detained without bail at a Friday afternoon hearing, court records show. Mehdiyev's lawyer declined to comment.After his arrest, Mehdiyev initially told law enforcement agents he did not know anything about the assault rifle and that he was in Brooklyn looking for a new apartment, according to the complaint.He later told investigators that the AK-47 was his and that he was in Brooklyn ""looking for someone,"" the complaint read. Mehdiyev then asked for a lawyer and declined to answer further questions.Register now for FREE unlimited access to Reuters.comReporting by Luc Cohen in New York and Joel Schectman in Washington
Editing by Tomasz Janowski and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Man arrested with rifle outside New York home of Iranian-American journalist.
"An Apple logo hangs above the entrance to the Apple store on 5th Avenue in the Manhattan borough of New York City, July 21, 2015. REUTERS/Mike SegarRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Apple Inc (AAPL.O) was sued on Monday by French app developers that accused the iPhone maker of violating U.S. antitrust law by overcharging them to use its app store.The plaintiffs in the proposed class action include Société du Figaro, which develops the Figaro news app; L'Équipe 24/24, which develops the L'Équipe sports news and streaming app, and Le Geste, an association of French content providers.According to the complaint filed in the federal court in Oakland, California, Apple has abused its monopoly power over app distribution on iOS-based mobile devices by mandating only one app store for those devices.Register now for FREE unlimited access to Reuters.comThe plaintiffs said this has enabled the Cupertino, California-based company to charge ""supracompetitive"" 30% commissions for 14 years, as well as $99 annual fees to app developers, while stifling innovation and consumer choice.""There is no valid business necessity or pro-competitive justification for Apple's conduct,"" the complaint said. ""Instead, Apple's actions are designed to destroy competition.""Apple did not immediately respond to requests for comment.Monday's complaint seeks an injunction against further anticompetitive conduct, plus triple damages for violating federal antitrust law and California state laws.The plaintiffs are represented by the U.S. law firm Hagens Berman Sobol Shapiro, and Paris-based Fayrouze Masmi-Dazi.Monday's lawsuit resembles an earlier Hagens Berman case against Apple, which resulted last August in a $100 million settlement for smaller iOS developers that called Apple's commissions excessive. read more In June, the firm reached a $90 million settlement with Alphabet Inc's (GOOGL.O) Google over its app store's treatment of developers. read more The case is Société du Figaro et al v Apple Inc, U.S. District Court, Northern District of California, No. 22-04437.Register now for FREE unlimited access to Reuters.comReporting by Jonathan Stempel in New York; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Apple is sued by French app developers over app store fees.
"Crime August 1, 2022 / 2:50 PM / CBS/AP A Canadian citizen who led propaganda efforts for the Islamic State group and personally executed two Syrian soldiers in widely circulated videos was sentenced to life in prison Friday by a U.S. judge. According to the Department of Justice, Mohammed Khalifa served as a lead translator in ISIS's propaganda production and the English-speaking narrator on multiple violent ISIS videos. Prosecutors sought the life sentence for Khalifa, 39, a Saudi-born Canadian who held prominent roles for the Islamic State group from 2013 until his capture in 2019.In a sentencing memorandum, prosecutors said Khalifa played a key role in the group's successful efforts to recruit tens of thousands of foreign fighters to defend its self-proclaimed caliphate in Iraq and Syria. In two notorious propaganda videos titled ""Flames of War,"" Khalifa can be seen shooting Syrian soldiers in the back of the head after they dug their own graves. He also narrated the videos.Khalifa's defense attorneys had sought a term of just 20 years at Friday's sentencing hearing in Alexandria, Virginia. They argued that he was less culpable than two British-born Islamic State members — Alexanda Kotey and El Shafee Elsheikh, nicknamed the ""Beatles"" by their captives — who personally beat and tortured Western hostages. Both Kotey and Elsheikh were convicted in Alexandria; one has received a life sentence and the other is expected to get life when he is formally sentenced next month. They also argued that it's wrong for the U.S. to impose such a severe sentence against a Canadian who was not convicted of directly killing or harming any Americans and could have just as easily been extradited to Canada.Khalifa pleaded guilty last year to terrorism charges. In a letter to U.S. District Judge T.S. Ellis written ahead of Friday's sentencing hearing in Alexandria, Virginia, Khalifa said he felt compelled to help the Syrian people in their revolt against dictator Bashar al-Assad, but that he made a mistake by opting to become a fighter as opposed to joining an aid organization.""As I followed the events in Syria, I became disgusted with myself for sitting by and not doing something,"" he wrote.According to an FBI affidavit, Khalifa told FBI agents he expected to be sent to an ISIS training camp when he joined the organization in late 2013. Instead, he was recruited to join the organization's media department because of his English language skills and spent nearly five years as a leader in their propaganda unit. That unit was notably behind the production of videos of foreign hostages being executed, including U.S. journalists James Foley and Steven Sotloff, who were decapitated in 2014.Khalifa provided the narration and translation for approximately 15 videos created and distributed by ISIS, the Justice Department said in a news release. ""Khalifa directed various supporter networks that assisted in the translation, production and dissemination of propaganda released under various ISIS media brands in order to reach Western audiences,"" the department said.Khalifa told agents he was captured in January 2019 when he defied an ISIS order to flee from advancing forces. Instead, he said, he launched a solo attack of sorts on Syrian Defense Forces, surrendering after his AK-47 rifle jammed.In a 2019 interview the with Canada's CBC from his Syrian prison, Khalifa showed no regret for his actions. He said he wanted to return to Canada with his wife and their three children, but on the condition that he would not be tried there.However, he was entrusted in 2021 to American authorities and ultimately transferred to the United States.AFP contributed to this report. In: islamic state of iraq and the levant","Mohammed Khalifa, Canadian who narrated violent ISIS videos, sentenced to life in prison by U.S. judge."
"Register now for FREE unlimited access to Reuters.comWEST HOLLYWOOD, Calif., Aug 1 (Reuters) - A collection of jewelry that Elvis Presley gave to his manager Colonel Tom Parker is going up for auction on Aug. 27.Two hundred items, including gold rings encrusted with jewels, cufflinks, watches and chains, have been brought together by GWS Auctions. Also included is the guitar played by Presley during his famous ""comeback"" TV special of 1968.Presley’s former wife, Priscilla Presley, helped design some of the pieces.Register now for FREE unlimited access to Reuters.com""Well, it brings back memories for sure,"" Priscilla Presley told Reuters.She added that it was a running joke with her former husband that he constantly bought or commissioned jewelry for Parker because the manager already had everything he needed and the Presleys did not know what else to buy him.A collection of personal jewelry of Elvis Presley & Colonel Tom Parker, that was lost for decades and will be sold at auction in August, at the Sunset Marquis Hotel, in Hollywood, California, U.S., July 28, 2022. The items were part of a lost collection and do not belong to Priscilla Presley. REUTERS/Aude GuerrucciPriscilla Presley said she felt protective of the items because she designed some of them, including artifacts with the logo for TCB Band, the musicians who formed the core rhythm section of Presley's backing band in his later years. ""TCB"" stood for ""taking care of business,"" a favorite expression of Presley's.Priscilla Presley supported the auction in part because she was weary of seeing so many fake Elvis artifacts for sale.""There is so much product out there that is not authentic at all and that worries me,"" she said.""I want to know for sure that that is going to go to someone who is going to care for it, love it.""(This story corrects third paragraph to make clear Priscilla Presley helped design some jewelry but did not own the pieces)Register now for FREE unlimited access to Reuters.comReporting by Rollo Ross in West Hollywood, Calif.
Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.",Elvis Presley's jewelry on auction with Priscilla Presley's support.
"A customer shops in a Kroger grocery store on July 15, 2022 in Houston.Brandon Bell | Getty ImagesAs experts debate whether the U.S. is on the brink of an economic downturn, many Americans are already bracing themselves for a recession.To that point, 66% of Americans worry that a major recession is right around the corner, up from 48% who said the same a year ago, according to a survey by Allianz Life Insurance Company of North America.One big reason is that people fear high inflation, which has pushed prices higher for goods and services.The survey found 82% worry inflation will have a negative impact on their purchasing power in the next six months. Moreover, the same share of respondents said they expect inflation to get worse over the next 12 months.More from Personal Finance:What a recession could mean for youBest money moves after the Fed's interest rate hikesNearly half of all Americans are falling deeper in debtMeanwhile, 71% said their wages are not keeping pace with rising expenses.(Allianz Life conducted the online survey in June and polled just over 1000 individuals.)Data released last week by the U.S. Department of Commerce only further stoked fears of a downturn, with gross domestic product declining for a second straight quarter, a traditional signal of a recession.However, the White House was quick to reject speculation that a recession is already here, with President Joe Biden citing record low unemployment, among other factors.Consumer spending increased 1.1% in June due to rising inflation, according to government data released last week.Yet as recession fears rise, that may already be prompting Americans to change the way they handle their money.Why a recession could be consumer-ledEven with the latest data, consumer spending has been pretty flat for the past seven months, according to Jonathan Pingle, chief U.S. economist at UBS.At the start of the year, households were in good shape with excess savings and solid labor market gains. But then high gas prices and rising interest rates were piled on.""Altogether, it's just proven to be a much weaker trajectory for consumer spending than I think most people expected,"" Pingle said. ""Where we sit now is kind of in a tenuous spot for the economy.""The big question experts are debating now is whether or not the country is already in a recession.UBS' probability model currently has a 40% odds of a recession in the next 12 months. The first quarter slowdown in GDP had some ""really noisy"" components, which were payback from a strong fourth quarter in 2021, said Pingle, making the reason for quarter-to-quarter declines still inconclusive.A consumer-led recession is one way in which a U.S. downturn could play out, according to a recent UBS research report. Another scenario may be caused by the Federal Reserve overtightening.If consumer spending pulls back, that could be a confidence shock, Pingle said. That could be prompted by households increasing precautionary savings as they worry about the future and postpone purchases.To be sure, ramping up savings and paring down spending are the tips generally given to individuals who want to limit the impact of an economic downturn on their finances.""Pay down your debt, boost your savings and keep making those retirement savings contributions throughout the ups and downs,"" said Greg McBride, senior vice president and chief financial analyst at Bankrate.com.""Long-term, when you look back you'll be really glad you invested in 2022,"" he said.How recession worries vary by generationYet Allianz Life's recent survey found 65% of investors say they are keeping more money than they should out of the market now due to fears of losses.For baby boomers, the No. 1 concern, cited by 73%, is that they will not be able to afford the lifestyle they want in retirement due to rising costs. That was up from 66% who cited that worry in the first quarter.""Having this kind of a downturn coupled with this type of inflation for somebody who is newly retired can really drain your assets significantly faster than you had ever expected,"" said Kelly LaVigne, vice president of consumer insights at Allianz Life.For Gen X, the biggest worry is that their income is not keeping pace with rising costs, cited by 75% of respondents, up from 68% in the first quarter.Having this kind of a downturn coupled with this type of inflation for somebody who is newly retired can really drain your assets significantly faster than you had ever expected.Kelly LaVignevice president of consumer insights at Allianz LifeMeanwhile, fewer millennials have a financial plan in place to handle rising inflation. The survey found 56% currently have such a plan, down from 61% in the first quarter.For all individuals, coming up with a financial plan can help limit the effect of economic uncertainties, LaVigne said.""Regardless of whether you think you have enough money or not, there's a right financial advisor out there for you,"" LaVigne said. ""And it's never too early and it's certainly never too late.""Not having a plan is the worst thing you can do,"" he added.",Americans are anxious about a recession as inflation cuts into their spending power.
"A picture illustration shows U.S. 100 dollar bank notes taken in Tokyo August 2, 2011. REUTERS/Yuriko NakaoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - W3BCLOUD, a tech joint venture between Advanced Micro Devices (AMD.O), ConsenSys and its founders, on Monday agreed to go public in the United States by merging with a blank-check firm in a deal that values the combined company at $1.25 billion including debt.The deal with Social Leverage Acquisition Corp I (SLAC.N) is expected to fetch up to $345 million in proceeds from the special purpose acquisition company's (SPAC) trust account, assuming no redemptions.W3BCLOUD has commitments for $40 million from ConsenSys, SK Inc and others for new investments and has also struck an agreement with AMD for an additional equity investment of $10 million, each of which is subject to certain conditions.Register now for FREE unlimited access to Reuters.comFounded in 2018, the company is betting on the growing popularity of Web3 by providing storage and computing infrastructure to power the decentralized economy.Web3 is used to describe a potential next phase of the internet – a decentralized web run on blockchain technology.Still, the announcement comes at a difficult time for the SPAC market, once Wall Street's hottest trend when it peaked during 2020 and early 2021, and currently finds itself facing regulatory hurdles and investor distrust amid volatile capital markets and poor share performance of popular firms.SPACs are publicly listed companies raised with the intention of merging with a private company, which goes public through the merger and is seen as an alternative to an IPO.After the deal closes, the combined operating entity will be led by Sami Issa, chief executive of W3BCLOUD, while Joseph Lubin, founder of ConsenSys and co-founder of Ethereum, will remain on the board of directors.Register now for FREE unlimited access to Reuters.comReporting by Manya Saini in Bengaluru; Editing by Aditya Soni and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.",Tech firm W3BCLOUD to go public via $1.25 billion SPAC deal.
"U.S. Secretary of State Antony Blinken sits on the sidelines prior to his address to the United Nations General Assembly during the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - U.S. Secretary of State Antony Blinken said on Monday that a potential visit to Taiwan by House of Representatives Speaker Nancy Pelosi would be entirely her decision, but called on China not to escalate tensions in the event of a visit.""If the speaker does decide to visit and China tries to create some kind of crisis or otherwise escalate tensions, that would be entirely on Beijing,"" Blinken said after nuclear nonproliferation talks at the United Nations.""We are looking for them (China) - in the event she decides to visit - to act responsibly and not to engage in any escalation going forward.""Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Simon Lewis; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.",U.S. looking to China not to escalate tensions in event of Pelosi visit to Taiwan -Blinken.
"MoneyWatch August 1, 2022 / 2:24 PM / AP The government and publishing titan Penguin Random House are set to exchange opening salvos in a federal antitrust trial Monday as the Department of Justice seeks to block the biggest U.S. book publisher from absorbing rival Simon & Schuster. At a time of mega-mergers and flashy high-tech corporate hookups, the biggest U.S. book publisher's plan to buy the fourth-largest for a mere $2.2 billion may seem somewhat quaint. But the deal represents such a key test for the Biden administration's antitrust policy that the Justice Department is calling an out-of-the-ordinary witness to ""The Stand"": horror master Stephen King.The renowned author whose genre-transcending works are published by Simon & Schuster is expected to testify during the weekslong trial in U.S. District Court in Washington, D.C., and is likely to draw wide attention. Penguin Random House's proposed acquisition of rival Simon & Schuster would reduce the ""Big Five"" U.S. publishers to four. The Justice Department filed the suit to block the merger in November 2021. Paramount is the parent company of Simon & Schuster and CBS News. The government contends that the merger would hurt authors and, ultimately, readers if German media titan Bertelsmann, of which Penguin Random House is a division, is allowed to buy Simon & Schuster from U.S. media and entertainment company Paramount Global. It says the deal would thwart competition and give Penguin Random House gigantic influence over which books are published in the U.S., likely reducing how much authors are paid and giving consumers fewer books to choose from. Chicago children's store where all children are reflected in books 02:47 The publishers counter that the merger would strengthen competition among publishers to find and sell the hottest books, by enabling the combined company to offer bigger advance payments and marketing support to authors. It would benefit readers, booksellers and authors, they say. Publishing heavyweightsThe two New York-based publishers have impressive stables of blockbuster authors, who've sold multiple millions of copies and have scored multimillion-dollar deals. Within Penguin Random House's constellation are Barack and Michelle Obama, whose package deal for their memoirs totaled an estimated $65 million, Bill Clinton, who received $15 million for his memoir, Toni Morrison, John Grisham and Dan Brown.Simon & Schuster counts Hillary Clinton (she received $8 million for hers), Bob Woodward and Walter Isaacson. And King. His post-apocalyptic novel ""The Stand,"" published in 1978, swirled around a deadly pandemic of weaponized influenza.Bruce Springsteen split the difference: His ""Renegades: Born in the USA,"" with Barack Obama, was published by Penguin Random House; his memoir, by Simon & Schuster. Discussing the legacy of writer Hunter S. Thompson 06:12 Opposing attorneys for the two sides will present their cases before U.S. District Judge Florence Pan. The Big Five — the other three are Hachette, HarperCollins and Macmillan — dominate U.S. publishing. They make up 90% of the market for anticipated top-selling books, the government's court filing says. ""The proposed merger would further increase consolidation in this concentrated industry, make the biggest player even bigger, and likely increase coordination in an industry with a history of coordination among the major publishers,"" it says.Publishers make their casePenguin Random House and Simon & Schuster argue the merger would actually strengthen competition among publishers to find and sell the hottest books, by enabling the combined company to offer greater compensation to authors.It would benefit readers, booksellers and authors, the publishers say, by creating a more efficient company that would bring lower prices for books. The government has failed to show harm to consumers as readers because the merger wouldn't push up prices, the companies contend.""The U.S. publishing industry is robust and highly competitive,"" they say in their filing. ""More readers are reading books than ever before, and the number grows every year. Publishers compete vigorously to reach those readers, and the only way they can compete effectively is to find, acquire and publish the books readers most want to read. ... The merger at issue in this case will encourage even more competition and growth in the U.S. publishing industry."" Author Gillian Flynn reads new ""Gone Girl"" excerpt from 10th anniversary edition 05:43 The companies reject the government's central focus on the market for anticipated best-selling books — defined as those acquired for advances to authors of at least $250,000. They represent only a tiny sliver, about 2%, of all books published by commercial companies, according to the companies' filing. Suit treads new groundThe Justice Department case reaches beyond the traditional antitrust concern of concentration raising prices for consumers, pointing to the impact on consumers' choices and viewing authors as workers as well as sellers of products in the global marketplace of ideas. The notion is that fewer buyers (publishers) competing over the same talent pool reduces sellers' (authors) bargaining power.The case ""potentially creates a precedent that could be used in the labor area,"" said Rebecca Allensworth, an antitrust expert who is a law professor at Vanderbilt University.The Biden administration is staking out new ground on business concentration and competition, and the government's case against the publishers' merger can be viewed as an important step. President Joe Biden has made competition a pillar of his economic policy, denouncing what he calls the outsized market power of an array of industries and stressing the importance of robust competition to the economy, workers, consumers and small businesses. Biden, a Democrat, has called on federal regulators, notably the Justice Department and the Federal Trade Commission, to give greater scrutiny to big business combinations. In: Bill Clinton toni morrison Hillary Clinton bruce springsteen Joe Biden Trial Michelle Obama john grisham Barack Obama Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Feds and Penguin Random House set to square off over Simon & Schuster deal.
"British flag flies next to the British embassy in Moscow, Russia, March 15, 2018. REUTERS/David MdzinarishviliRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Russia on Monday announced sanctions against 39 British politicians, officials, business people and journalists, barring them from entering Russia for supporting the ""demonisation"" of the country.Those targeted include opposition Labour Party leader Keir Starmer, former prime minister David Cameron and prominent TV journalists Piers Morgan, Robert Peston and Huw Edwards.Their names are added to those of more than 200 other Britons whom Russia has already banned, including most of Britain's leading politicians.Register now for FREE unlimited access to Reuters.comThe travel bans - mirroring those Russia has imposed on other Western nations that have hit it with sanctions over the invasion of Ukraine - are largely symbolic given that relations are already at rock bottom and hardly any of those targeted were likely to have intended to visit the country.Russia's foreign ministry said, however, it would keep adding to the list.""Given London's destructive drive to spin the sanctions flywheel on far-fetched and absurd pretexts, work on expanding the Russian stop-list will continue,"" it said in a statement.Separately, the Russian Prosecutor General's office said it had declared the Calvert 22 Foundation, a non-profit organisation based in London, to be an ""undesirable organisation"".""It has been established that its activity poses a threat to the foundations of the constitutional order and the security of the Russian Federation,"" it said in a statement.No comment was immediately available from the organisation, which was founded in 2009 by Russian-born economist Nonna Materkova and focuses on arts and culture in Russia and eastern Europe.Register now for FREE unlimited access to Reuters.comReporting by Mark Trevelyan; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.","Russia bars entry to dozens more Britons including Starmer, Cameron and Piers Morgan."
"Inflation has been causing economic hardship for workers across all income levels.As of June, 61% of Americans — roughly 157 million adults — lived paycheck to paycheck, according to a new LendingClub report. That's up from 58% who reported living paycheck to paycheck in May. A year ago, the number of adults who felt stretched too thin was 55%.Even top earners have been struggling to make ends meet, the report found. Of those earning $200,000 or more, 36% reported living paycheck to paycheck, a jump from the previous month. Another recent survey, from consulting firm Willis Towers Watson, estimated 36% of those earning $100,000 or more said they were living paycheck to paycheck.More from Personal Finance:What a recession could mean for youBest money moves after the Fed's interest rate hikesNearly half of all Americans are falling deeper in debtInflation has been an ongoing problemAnother key inflation gauge, the Personal Consumption Expenditures Price Index, which measures the price change in goods and services consumed by all households, also jumped 6.8%, the biggest 12-month move since 1982.Taken together, this data shows Americans are shelling out more to cover their monthly expenses, making it increasingly difficult to make ends meet. As a result, they're dipping into their cash reserves and nearly half are falling deeper in debt.Among all consumers, average savings dropped to $10,757 in June from $11,274 in May, LendingClub also found.","Unrelenting inflation is driving up costs, leaving more Americans living paycheck to paycheck."
"FILE PHOTO: Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Parents of a child killed in the 2012 Sandy Hook massacre are expected to testify on Monday that U.S. conspiracy theorist Alex Jones fueled a campaign of harassment against them by claiming the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in Texas to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.comJones has already been found liable for defamation by Judge Maya Guerra Gamble in Austin, Texas, who issued a rare default judgment against him in 2021.The defamation suit in Texas, where Infowars is based, is one of several brought by families of victims who say they were harassed by Jones’ followers as a result of his false claims.Free Speech Systems filed for U.S. bankruptcy protection on Friday evening. While this would normally result in the trial being halted, a bankruptcy judge on Monday allowed it to continue.Nevertheless, Jones and his company could later attempt to use the bankruptcy proceedings, commenced in another Texas court, to avoid paying the full jury award in the defamation case.During opening statements in Texas last week, lawyers for Heslin and Lewis said Jones led a ""vile campaign of defamation"" and must pay the price for his falsehoods.A lawyer for Jones said he has already paid a price after being deplatformed in 2018 and losing millions of viewers.Jones, who has been intermittently present in the courtroom and occasionally broadcast his show as his lawyers defended him, is set to face trial in September in a similar suit in Connecticut state court, where he has also been found liable for defamation in a default judgment.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder and Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Sandy Hook victim's parents to testify in Alex Jones defamation trial.
"Revlon products are seen for sale in a store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly/File PhotoRegister now for FREE unlimited access to Reuters.comCompaniesAug 1 (Reuters) - Revlon Inc (REV.N) received a U.S. bankruptcy judge's permission on Monday to proceed with a $1.4 billion loan, over an objection by junior creditors who argued that its onerous terms could block their chance to recover anything from the cosmetic company's bankruptcy.U.S. Bankruptcy Judge David Jones in Manhattan ordered modifications to the loan in response to the junior creditors' concerns, but said Revlon must be allowed to borrow the cash it needs to continue its operations in bankruptcy.Revlon filed for Chapter 11 in June, saying its $3.5 billion debt load left it too cash-poor to make timely payments to critical vendors in its cosmetics supply chain. read more Register now for FREE unlimited access to Reuters.comTo shore up its supply chain and fund its bankruptcy court case, Revlon sought additional financing from a coalition known as the BrandCo Lenders, which had loaned Revlon $1.88 billion in the years before it filed for bankruptcy.Jones allowed Revlon to borrow $375 million at the start of the bankruptcy. Friday's unlocks between $200 million and $1.05 billion in additional funds, some of which would be used to pay Revlon's existing debts to BrandCo lenders.The judge's approval also commits Revlon to non-financial conditions, including a schedule for exiting bankruptcy by April 2023 on terms favorable to the lenders.Jones ordered some changes to the loan agreement, giving Revlon more time to propose a restructuring plan and giving junior creditors more authority to bring lawsuits on Revlon's behalf.The junior creditors may bring a lawsuit against the BrandCo lenders behind the new loan. They have alleged that those lenders previously ""fleeced"" Revlon stakeholders in a 2020 debt restructuring that used Revlon's intellectual property as collateral. read more The 2020 transaction has already been subject to lawsuits by other Revlon lenders. read more The BrandCo lenders have said the 2020 transaction kept Revlon afloat during the worst of the COVID-19 pandemic, and was neither “fraudulent” nor “aggressive.""Register now for FREE unlimited access to Reuters.comReporting by Dietrich Knauth, Editing by Alexia Garamfalvi and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",Revlon gets court approval for $1.4 billion bankruptcy loan.
"An Uber Eats delivery bag is seen on a bicycle in Brooklyn, New York City, U.S., May 9, 2022. REUTERS/Andrew KellyRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - The food-delivery business that kept Uber Technologies' (UBER.N) earnings afloat during the peak of the pandemic is expected to show signs of strain in second-quarter results due on Tuesday as decades-high inflation crimps consumer spending.The slowdown could dampen any boost from a rebound in Uber's mainstay ride-hailing business that has been benefiting from the reopening of offices and a surge in travel globally.""Investors have written off food delivery as the next shoe to drop as consumers tighten up their wallets,"" Bernstein analyst Nikhil Devnani said, pointing to the dismal performance of Britain's Deliveroo (ROO.L).Register now for FREE unlimited access to Reuters.comReuters Graphics Reuters GraphicsTHE CONTEXTDeliveroo had cuts its annual revenue forecast last month amid a worsening cost of living crisis, prompting questions over the growth prospects of delivery firms. read more While ride-sharing has staged a recovery this year, that could come under pressure from a possible driver shortage sparked by the surge in gasoline prices, MKM Partners analyst Rohit Kulkarni said.Uber said last quarter it was not seeing the need to boost incentives to lure drivers, while rival Lyft (LYFT.O) was forced to invest more to ensure a steady supply of cab rides. read more Lyft will report earnings on Thursday.Reuters GraphicsFUNDAMENTALS* Analysts expect Uber to post second-quarter revenue of $7.39 billion, up 88.2% from a year earlier - Refinitiv data* Lyft's revenue is expected to rise 29.1% to $987.9 million* EBITDA, a keenly watched metric, is expected to come in at $258 million for Uber and $18.7 million for LyftWALL STREET SENTIMENT* So far in 2022, Uber has declined 44% and Lyft has shed 68%, more than the 13.2% fall in the benchmark S&P 500 index (.SPX).Register now for FREE unlimited access to Reuters.comReporting by Nivedita Balu in Bengaluru; Editing by Aditya SoniOur Standards: The Thomson Reuters Trust Principles.",Uber Eats in focus as inflation-hit consumers rethink ordering in.
"MoneyWatch August 1, 2022 / 1:51 PM / MoneyWatch U.S. housing shortage crisis escalates Half of cities don't have enough homes, new study finds 05:16 Economic mobility has taken a hit in the U.S., with only half of 30-year-olds earning more than their parents had at their age, down from 90% in earlier generations. But one key to earning more in adulthood may be the company you keep in childhood, according to a new study. The difference between kids who grow up with rich friends and those who lack such ties can be striking, according to the findings from researchers at Harvard, Stanford, New York University and the Santa Fe Institute in collaboration with Meta and Opportunity Insights. The research was published in the science magazine Nature on Monday. For instance, a poor child who grows up in Minneapolis, where there's greater integration between low-income and wealthy kids, reaches an average income of $34,300 by age 35 — or almost $10,000 more annually than the typical income of a poor kid from Indianapolis, where there are fewer social connections between the two sides of the wealth spectrum, the study found.  The research has implications for communities across the U.S., especially as schools are becoming more economically segregated as high-income families seek out homes in wealthier communities that have better-funded schools. The findings, which analyzed measures of social capital for each ZIP code, high school and college in the U.S. as well as data from Facebook about the social connections of adults, suggest that if poor children were to grow up with the same economic connectedness as the typical wealthy child, their incomes as adults would be an average of 20% higher. So-called economic connectedness — or the share of wealthy friends held by low-income children — is ""the single strongest predictor of upward mobility identified to date,"" the researchers found. ""Many have argued that the strength of an individual's social network and community — their social capital— may have an important effect on outcomes ranging from health to education to earnings,"" Raj Chetty, an economist at Harvard and a co-author of the study, said in a statement.He added, ""But measuring social capital has proven to be difficult, with most work to date having to rely on small surveys or indirect proxies, limiting our understanding of what social capital really is and why it matters.""Where ties are strongTo be sure, Americans tend to be highly stratified by income — rich people tend to spend time with other rich people, and the same goes for poor people, the study found. That's due to two things: First, high-income children tend to attend schools populated with other wealthy children. And secondly, there's a bias toward spending time with people in your own social class, the researchers noted. But social connections between rich and poor children can help bolster the fortunes of lower-income students through a number of ways, the researchers added. They include ""shaping career aspirations and norms to providing valuable information about schools and colleges to providing connections to internship and job opportunities,"" the research paper noted.  Mapping the economic connectedness across the U.S. finds a huge variety across the nation, although counties in Southern states tend to have a lower proportion of low-income children with wealthier friends. (The researchers have made their findings searchable at Socialcapital.org.) For instance, only about 20% of friends of low-income children in Lowndes County, Alabama, are high-income, giving that county a low rate of economic connectedness. By comparison, almost 70% of friends of low-income students in Rockingham County, New Hampshire, are high income, giving that county a high rate of economic connectedness. The findings have implications for policy choices in communities that want to improve the economic outcomes of their students — as well as for parents, the researchers noted. Simply moving to a community with greater social mobility can help a child succeed later in life, they pointed out. And the economic growth of a region may not automatically lift the economic prospects of children, they added. For instance, Atlanta and Charlotte, North Carolina, have seen huge gains in job and wage growth over the past 20 years, but children who grow up there have had low rates of upward mobility, the researchers said. ""These cities achieve high rates of economic growth by importing talent — i.e., attracting high-skilled people to move in and fill high-paying jobs,"" they wrote. ""While this impressive economic growth may have brought other benefits to these cities, it is clear that a booming economy does not guarantee better outcomes for local children."" Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",One key to earning a higher income: Rich friends in childhood.
"Designer491 | Istock | Getty ImagesThe U.S. Department of Education is expected to lose close to $200 billion from federal student loans made over the last 25 years, due in part to pandemic-era relief pausing the bills for borrowers.Originally, the Education Department estimated these loans would generate around $114 billion in income; they will, however, actually cost the federal government $197 billion, according to the Government Accountability Office, a federal watchdog. A large share of the additional costs stem from the pandemic-era pause on most federal student loan payments first enacted under the Trump administration and then continued by President Joe Biden. As a result, most federal student loan borrowers haven't made a payment on their debt in more than two years, and interest hasn't accrued on their balances in the meantime.More from Personal Finance:The best money moves after the Fed's major interest rate hikesWhat advisors are telling their clients as recession fears growHow to make your resume stand out in 'Great Reshuffle'Given that policy, higher education expert Mark Kantrowitz said, the GAO's findings were far from surprising.""There have been several changes to the federal student loan programs, including the payment pause and interest waiver, that have increased the cost of the program, swinging it from a profit to a loss,"" Kantrowitz said.The other changes to the federal student loan system that are likely to increase costs include the suspension of collection activity, another pandemic-related relief measure, and revised estimates to how much borrowers will pay down their debts.The GAO analysis found that loans made between 1997 and 2021 are expected to cost the government almost $9 for every $100 disbursed. That's a big difference from the government's expectation that the loans would generate $6 for each $100 lent.The Education Department did not immediately respond to a request for comment.Student loan system woes predate pandemicStefani Reynolds | Afp | Getty ImagesBefore the pandemic, when the U.S. economy was enjoying one of its healthiest periods, problems still plagued the federal student loan system.More than 40 million Americans were in debt for their education, owing a cumulative $1.7 trillion, a balance that far exceeds outstanding credit card or auto debt. Average loan balances at graduation have tripled since 1980, from around $12,000 to more than $30,000 today.A quarter of borrowers — or more than 10 million people — were in delinquency or default. These grim figures have led to comparisons to the 2008 mortgage crisis. The Biden administration is currently considering forgiving some portion of student debt, and most recently was reported to be leaning toward $10,000 in relief for most borrowers. The price tag of such a move would depend on the fine print, but could cost the government another $321 billion.","The federal government had expected $114 billion income on student loans. But it could lose $197 billion, watchdog finds."
"The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif/File PhotoRegister now for FREE unlimited access to Reuters.comHOUSTON, Aug 1 (Reuters) - The U.S.emergency crude oil stockpile fell by 4.6 million barrels last weekto its lowest level since May 1985, according to the Department of Energy on Monday.Crude held in the Strategic Petroleum Reserve (SPR) dropped to 469.9 million barrels for the week ended July 29, according to DOE data, in the smallest weekly withdrawal sinceMay. All the barrels sold during the week were sour crude oil.U.S. President Joe Biden in March set a plan to release 1 million barrels per day (bpd) over six months from the SPR to tackle high fuel prices that have contributed to soaring inflation.Register now for FREE unlimited access to Reuters.comU.S. gasoline prices are about 40 cents a gallon lower than what they would have been without the sales, the White House said last week.Since May, releases have averaged 880,000 bpd. The oil is sold to accredited oil companies via online auctions.The DOE did not immediately respond to a request for a comment.The DOE has proposed a rule to return crude to the SPR by allowing it to enter contracts to purchase oil in future years at fixed, preset prices. The administration believes the plan will help boost domestic oil production, it said.Refiner Valero Energy's (VLO.N)Chief Commercial Officer Gary Simmons last week said he expects lower volumes to be released from the SPR in the future, as demand forecasts have been lowered, adding that oil markets were fairly well balanced.Register now for FREE unlimited access to Reuters.comReporting by Arathy Somasekhar in Houston and Timothy Gardner in Washington D.C.
Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.",U.S. emergency crude stockpile falls to lowest in 37 years.
"If your favorite store was offering 13% off the merchandise, chances are you'd be filling up your shopping cart. But if you're like many Americans, you may find you're not quite as enthusiastic about a markdown when it comes to buying stocks.The S&P 500 — a common proxy for the broad U.S. stock market — is down 13% in 2022, but folks aren't buying more stock at cheaper prices. Just 1 in 4 Americans say it's a good time to invest in the stock market, according to a recent survey from Allianz Life, and 65% say they are keeping more money than they should out of the market out of fear of investment losses.Those fears aren't entirely unfounded: Any investment has the potential to go down, and investment losses can be painful — especially for people who plan to live on their investment income in the short term.If you're investing for a goal that's years away, however, letting fear keep your money out of the market is a big mistake, says Kelly LaVigne, vice president of consumer insights at Allianz Life.""When the market is doing well, people are throwing their money at it. When it's doing poorly, they're keeping their money out,"" he says. ""It's doing the exact opposite of what you're supposed to be doing.""Here's why investing experts say it's unwise to keep your money out of the market now, even though things look scary.Young investors: Time is on your sideMaybe you're keeping money on the sidelines because you're waiting for the market to calm down. But unless you're on the cusp of retirement, you're sacrificing your most valuable asset as an investor: time.""The younger you are, the more you need to be in the market,"" says LaVigne. That's because the further you are from your investing goal, the more time your portfolio has to recover from dips in the market. And given the market's long-term historical upward trajectory, starting earlier and staying invested means taking the fullest advantage of compounding returns.Say a 22-year-old who plans to retire at 67 initially invests $1,000 into the stock market, followed by $100 each month. If her portfolio earns an annual return of 7%, she would retire with nearly $405,000, according to CNBC Make It's compound interest calculator. If she starts just five years later and the other conditions remain the same, her total plummets to $280,000.Timing the market: 'You're going to miss the uptick'""But wait,"" you may be thinking. ""I'm not going to wait five years to get my cash back in the game. I'm just waiting until the market hits bottom so I can ride it back up.""Here's the problem: In order to earn long-term gains, you need to be invested on the market's best days. And those often come right after the worst ones.Over the 20-year period ending December 31, 2021, the S&P 500 returned an annualized 9.52%. Remove the 10 best days from that period, and the return drops to 5.33%, according to analysis from J.P. Morgan. Over that period, seven of the market's best days occurred two weeks after one of the 10 worst days.""We have no idea where the bottom of this downswing is, but we know almost for sure that if you're keeping money out of the market you're going to miss the uptick,"" says LaVigne. ""The worst thing you can possibly do is not be in the market when it starts to turn around.""Invest consistently through down marketsNo one enjoys the feeling of seeing big red numbers on their portfolio page. But if you're invested for the long term with a broadly diversified portfolio, it's not necessarily a bad thing, says Jeremy Finger, a certified financial planner and founder of River Bend Wealth Management in Myrtle Beach, South Carolina.""You should want the market to be down, down, down so you can buy at low, low prices,"" he says. ""Then, if you could snap your fingers like a genie, you'd want the market to go up right before you retire.""No one is able to magically control the stock market, but as an investor you can control how you handle its ups and downs. One way to avoid getting caught up in what the market is doing is to invest a set dollar amount at consistent intervals. This strategy, known as dollar-cost averaging, virtually guarantees that you buy more shares when they're cheaper and fewer when they're more expensive — effectively, buying low and selling high.Right now, the market is skewing more to the ""buy low"" side of things, points out Aaron Clarke, a CFP and founder of Gig Wealthy. ""You get a great entry point for the next 30 years of investing,"" he says. ""And if it goes down a little more, fine. It'll be an even better time to get your money in.""Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: I spent 5 years interviewing 225 millionaires. Here are the 4 types of rich people and their top habits","65% of Americans are doing 'the exact opposite of what they're supposed to,' says investing expert—here's what to do instead."
"A U.S. Pipe factory is seen in Bessemer, Alabama, U.S., February 23, 2022. REUTERS/Elijah NouvelageRegister now for FREE unlimited access to Reuters.comSummaryCompaniesManufacturing index dips to 52.8 in July from 53.0 in JuneNew orders contracting, supplier deliveries improvingPrice increases for inputs slowing; inventories piling upWASHINGTON, Aug 1 (Reuters) - U.S. manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a measure of prices paid for inputs by factories falling to a two-year low, suggesting inflation has probably peaked.While the Institute for Supply Management survey on Monday showed a measure of factor employment contracting for a third straight month, Timothy Fiore, chair of the ISM Manufacturing Business Survey Committee, noted that ""companies continue to hire at strong rates, with few indications of layoffs, hiring freezes or headcount reduction through attrition.""The better-than-expected ISM reading suggested that the economy was not in recession despite a decline in gross domestic product in the first half of the year. Businesses, however, are sitting on excess inventories after ordering too many goods because of worries about shortages, depressing new orders.Register now for FREE unlimited access to Reuters.com""The post-pandemic inventory restocking cycle is winding down amid softening consumer goods demand,"" said Pooja Sriram, an economist at Barclays in New York.""This intensifies risks of a harder landing in the manufacturing sector later this year. That said, the overall PMI would still need to decline a fair bit to reach readings consistent with outright economic recession.""The ISM's index of national factory activity dipped to 52.8 last month, the lowest reading since June 2020, when the sector was pulling out of a pandemic-induced slump. The PMI was at 53.0 in June. A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy.Economists polled by Reuters had forecast the index would fall to 52.0. A reading above 48.7 over a period of time generally indicates an expansion of the overall economy.Four of the six biggest manufacturing industries - petroleum and coal products as well as computer and electronic products, transportation equipment and machinery - reported moderate-to-strong growth last month.High inflation remained a complaint among businesses even though overall price increases for inputs have started slowing considerably. Makers of chemical products said inflation is ""slowing down business,"" and also noted an ""overstock of raw materials due to prior supply chain issues and slowing orders.""Manufacturers of food products reported that ""many customers appear to be pulling back on orders in an effort to reduce inventories."" Textile mill operators said ""continuing delivery and staffing issues have eaten away the bottom line.""The ISM survey's forward-looking new orders sub-index dropped to 48.0 from a reading of 49.2 in June. It was the second straight monthly contraction. Combined with a steady reduction in order backlogs, that suggests a further slowdown in manufacturing in the months ahead.Many retailers, including Walmart (WMT.N), have reported carrying excess inventory as soaring inflation forces consumers to spend more on low-margin food products instead of apparel and other general merchandise.Stocks on Wall Street were trading modestly lower. The dollar fell against a basket of currencies. U.S. Treasury prices were mostly higher.SUPPLY BOTTLENECKS EASINGThe ISM's measure of factory inventories increased to a 38-year high in July. According to the ISM's Fiore, companies were showing the most concern about their inventory levels since the start of the COVID-19 pandemic two years ago when a slowdown in manufacturing activity was anticipated.The moderation in manufacturing also reflects a shift in spending back to services from goods and the impact of rising interest rates as the Federal Reserve tackles inflation. The U.S. central bank last week raised its policy rate by another three-quarters of a percentage point. It has now hiked that rate by 225 basis points since March. read more The economy contracted 1.3% in the first half of the year. Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame, though overall momentum has cooled. read more Supply bottlenecks are loosening up, which is helping to curb inflation at the factory gate. The ISM's measure of supplier deliveries dropped to 55.2 from 57.3 in June. A reading above 50% indicates slower deliveries to factories.The survey's gauge of prices paid by manufacturers plunged to 60.0, the lowest level since August 2020, from 78.5 in June.""This should please the Fed and provides further evidence that rate hikes won't need to continue through 2023,"" said James Knightley, chief international economist at ING in New York.But the road to low inflation will be long. While the survey's measure of factory employment rose to 49.9, it remained in contraction territory for a third straight month, with manufacturers continuing to express difficulty finding workers.High turnover related to quits and retirements was also frustrating efforts to adequately staff factories. There were 11.3 million unfilled jobs across the economy at the end of May, with nearly two job openings for every unemployed worker.""This report is consistent with the Fed's desire to give the supply side a chance to catch up with demand, but there is a long way to go as the manufacturing sector appears to continue to struggle with shortages,"" said Conrad DeQuadros, senior economic advisor at Brean Capital in New York.Register now for FREE unlimited access to Reuters.comReporting by Lucia Mutikani; Editing by Chizu Nomiyama and Paul SimaoOur Standards: The Thomson Reuters Trust Principles.",U.S. manufacturing slows modestly; excess inventories a major concern.
"Crime August 1, 2022 / 1:08 PM / CBS News A man who allegedly shot a woman in the neck was killed this weekend when the bullet also hit him, Dallas police said.Dallas Police officers responded late Saturday morning to reports of a shooting at a residence in the city. Officers found a ""large amount of blood and a blood trail,"" but the apartment was empty, according to a news release. During that time, police also received a call from a nearby hospital complex that a man and woman with apparent gunshot wounds had been found in a vehicle outside. The man died in the hospital but the woman survived and has since been released, police said.  Police identified the deceased man as Byron Redmon, 26, and classified the shooting as a domestic disturbance. According to preliminary results from the investigation, police believe the woman was shot in the neck by Redmon. ""The bullet then exited and hit Redmon in the leg,"" police said.  The investigation is still ongoing.  In: Shooting Dallas","Texas man killed by same bullet he used to shoot woman in the neck, police say."
"Register now for FREE unlimited access to Reuters.comBAGHDAD, Aug 1 (Reuters) - Thousands of demonstrators opposed to Iraq's powerful cleric Moqtada al-Sadr staged a protest on Monday at the edge of Baghdad's fortified government zone, where Sadr's supporters have been occupying Iraq's parliament.The rival Shi'ite Muslim groups are affiliated with heavily armed militias, which had raised fears that the protest and counter- protest could lead to clashes as tension soars over the failure to form a government nearly 10 months after an October election.Sadr's opponents include a grouping of parties and militias mostly aligned with Iran. That grouping, known as the Shi'ite Coordination Framework, said Monday's protest aimed to protect state institutions against the civil unrest of the Sadrists.Register now for FREE unlimited access to Reuters.comOutside Baghdad's Green Zone, which houses the parliament building which Sadr's supporters took over last week, the protesters threw stones at police. From behind concrete barriers, police responded by spraying them with water.Some protesters waved banners calling for the downfall of outgoing Prime Minister Mustafa al-Kadhimi - who remains as caretaker until a new government is formed. They later dispersed after the leader of one Iran-backed faction, Qais al-Khazali, thanked them for participating and asked them to go home.Sadr's supporters remained in parliament.""We're ready for whatever Sadr orders,"" said Kadhim Haitham, on his way to join the parliament sit-in. ""We're against the Framework. All they've got is statements and no popular support.""Sadr supporters stormed parliament with ease twice last week as security forces stood back.Supporters of Iraqi populist leader Moqtada al-Sadr gather for a sit-in at the parliament building, amid political crisis in Baghdad, Iraq August 1, 2022. REUTERS/Khalid Al-MousilyA commander of a pro-Iran militia said earlier he feared clashes and hoped calm heads would prevail.""The situation in Iraq is very tough. We hope God will deliver us from fighting among the brothers. If things devolve, it will ruin the whole region,"" the commander said, declining to be named as he was not authorised to speak to the media.Sadr came first in the October election, but withdrew all his lawmakers from parliament after he failed to form a government that excluded his Shi'ite rivals.He has since exerted political pressure through his masses of loyal followers, mostly working-class Shi'ites from poor neighbourhoods in Baghdad and across southern Iraq, the heartland of the country's Shi'ite majority.Sadr's actions have prevented his rivals, including bitter foe, ex-Prime Minister Nouri al-Maliki, from forming a government. Parliament must choose a president and premier and cannot convene while it is occupied by Sadr's followers.The Sadrists have called for new elections and an end to the political system that has existed since the U.S.-led invasion which toppled Sunni dictator Saddam Hussein.That system distributes power by sect and party, and is blamed by many Iraqis for the endemic corruption and dysfunction that has prevented any meaningful progress for years, despite Baghdad's oil wealth and relative peace after the defeat of Islamic State militants in 2017.Sadr is one of the chief beneficiaries of that system. His loyalists run some of Iraq's wealthiest and worst-managed ministries.Register now for FREE unlimited access to Reuters.comReporting by John Davison; editing by Bernadette Baum, Dominic Evans, Andrew Heavens and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.",Thousands of anti-Sadr demonstrators protest Iraq parliament sit-in.
"The Twitter logo is shown on a smartphone in front of a displayed stock graph in in this April 29, 2015 photo illustration. REUTERS/Dado Ruvic/File PhotoRegister now for FREE unlimited access to Reuters.comBOSTON, Aug 1 (Reuters) - Hedge fund Greenlight Capital said it took a new stake in Twitter (TWTR.N) last month as the social media company sued to force Elon Musk to buy the company even as the billionaire entrepreneur said he has changed his mind about the deal.Greenlight founder David Einhorn wrote to investors on Monday that his hedge fund had taken the position, paying an average $37.24 for the stock, according to the letter seen by Reuters.""At this price there is a $17 per share of upside if TWTR prevails in court and we believe about $17 per share of downside, if the deal breaks. So we are getting 50-50 odds on something that should happen 95%+ of the time,"" the letter said.Register now for FREE unlimited access to Reuters.comEinhorn, whose firm gained 8.4% during the second quarter while the S&P500 index tumbled 16%, has a long history with Musk after betting, for years, that electric car maker Tesla's stock would drop. The two men have often sparred on Twitter.Now Einhorn is returning for round two with Musk not long after Twitter in July sued Musk in Chancery Court in Delaware to make him complete the $44 billion acquisition, accusing the billionaire of refusing to honor his obligations to Twitter ""because the deal no longer serves his personal interests.""Einhorn argues that the Delaware Court, the most prominent business court in the United States, has reason to force Musk to complete the purchase. ""If it lets Musk off the hook, it will invite many future buyers' remorse suits.""Over the years, the court has developed case law relating to merger agreements and the ""resulting precedent and clear understanding of buyers' contractual obligations has created a great deal of predictability in this sphere,"" Einhorn wrote.Einhorn said he wrote a few years ago, half in jest, that ""the accepted reality appears to be that Elon Musk is above the law."" In a few months, the Delaware Court will rule.A five-day trial is scheduled for October and Einhorn wrote that he liked the ""the risk-reward"" that precedent will be upheld, the letter said.He declined to write about Tesla, which he has not discussed in a letter since 2019.More generally, Einhorn, whose pronouncements on the economy and stock market have long been widely followed, said ""we continue to believe we are in a bear market,"" and that the firm is amassing cash for future investments.In the first half of the year, Greenlight gained 13.2% compared with a 20% drop in the S&P500 index. ""We achieved our positive year-to-date result despite being net long in the bear market,"" the letter said, noting that undisclosed bets on certain stocks performed well.Greenlight exited a short position against C.H. Robinson Worldwide (CHRW.O), after a modest loss, and liquidated a long bet on Rheinmetall (RHMG.DE) after a 125% gain over a few months as the company benefited from German and European defense spending.Register now for FREE unlimited access to Reuters.comReporting by Svea Herbst-Bayliss
Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Einhorn's Greenlight takes stake in Twitter -letter.
"Most people try to learn from their mistakes. Tom Brady says great leaders go one step further than that.On a recent episode of ""Drive with Jim Farley,"" a podcast hosted by Ford CEO Jim Farley, the Tampa Bay Buccaneers quarterback said that over his 22 years in the National Football League so far, the best leaders he's seen are people who constantly seek self-improvement, even after they achieved success in some way.Most people ""wait to do poorly"" before correcting themselves, Brady said. But always aiming to do better comes with benefits, he argued: Being aware of your shortcomings can help you identify why you were able to succeed in the first place, laying the groundwork to repeat that formula for success going forward.""Great leaders are always saying, 'Well, it's good, but these are all the things that we [still] screwed up' when things went well, too,"" Brady said.Brady, a seven-time Super Bowl champion, drew directly on his experience on the football field to explain his perspectives on leadership. He acknowledged that failure is still a powerful learning motivator: Losing games can ""feel like a lot"" in the moment, pushing him to quickly identify what he could have done to earn victory instead.But the greatest athletes he's ever worked with often have ""chips on their shoulders"" that drive them to constantly work harder — and smarter — than anyone else around them, Brady said. That includes finding mistakes or areas of improvement to tackle even after doing something well.Taking those extra steps can help you reach success repeatedly, according to Brady: You'll identify what can be better and, in the process, find out what worked and can be used again.""When things are going good, you have to be very conscious and aware of why things are going good. And then try to continue to repeat those things, rather than say, 'Well, things went great because I'm just so great at all these things, and they're going to continue to go great,'"" Brady said.The strategy applies outside of sports: In a 2019 Inc. magazine article, serial entrepreneur Robert Glazer wrote that great leaders always work to improve themselves, pointing to a strategy called ""capacity building."" That's when you intentionally seek out, acquire and develop skills to ""consistently perform at a higher level in pursuit of our innate potential,"" Glazer wrote.Glazer, the CEO of marketing agency Acceleration Partners, noted that encouraging his employees to embrace the strategy helped create an environment where everyone — not just the boss — was committed to improvement and engaged at work.On the podcast, Brady similarly argued that a focus on continuous improvement, regardless of whether you've recently succeeded or failed, is what helps you maximize your potential.""I think so much of it is just trying to continue to reach another level,"" he saidSign up now: Get smarter about your money and career with our weekly newsletterDon't miss:These Stanford experts say humor is the key to great leadership: 'We can do serious things without taking ourselves too seriously'President Joe Biden says young people need these 3 leadership skills to change the world",Tom Brady says great leaders try to improve even when they succeed: 'These are all the things that we [still] screwed up'.
"Before launching their blog and business in 2017, Julien and Kiersten Saunders worked in marketing for a hospitality company. The Atlanta-based couple, who met at work in 2012, recently left their jobs (Julien in June 2018 and Kiersten in April 2020) to focus on building out their website, Rich & Regular, and pursue more entrepreneurial careers.But in the time they spent in their marketing roles, both managed to increase their salaries significantly: Julien, who spent 10 years at the company, was promoted five times and nearly tripled his salary. Kiersten, who worked there for 11 years, was promoted several times, worked her way up to a director role and tripled her salary.By the time they quit, they were both earning six figures.Julien, 39, and Kiersten, 35, believe the key to building wealth is to expand your revenue streams and find multiple ways to earn money. Part of the reason they left their 9-to-5 jobs is so they wouldn't be reliant on a single source of income. They both still earn six figures as entrepreneurs and expect to exceed what they made from their previous jobs by the end of the year. But it's possible to increase your income even if you work a 9-to-5, as Julien and Kiersten did. A simple way to boost your earnings is to ask for a bigger salary, yet most people don't do it. Here is Julien and Kiersten's best advice for landing a raise.Sharpen your skillsetThe more value you can add to the company, the easier it will be to ask for a raise. ""Trying to stay ahead of the curve was always my magic trick,"" Julien tells CNBC Make It. ""Whenever there were data analysis tools or marketing tools that I felt that I could learn that other people on the team didn't learn, I made a point to sharpen those skills so I could differentiate myself.""It may require some upfront work — ""It was a lot of nights and weekends,"" Julien says — but developing new skills that will benefit the company will make it easier to give your boss a clear rationale for why you deserve more money.Rich & Regular co-founders Kiersten and Julien SaundersSource: Julien and KierstenBuild a network outside of your departmentDon't just form relationships with people you see and work with every day, says Julien: ""I was always making sure I had a network outside of my immediate department."" By talking to people other than his team, he gained a broader understanding of what was going on in the company and how he could help contribute to its larger mission.""Ensure that that network includes the data and analytics people,"" adds Kiersten. ""You want someone you can go to and ask: Explain the thinking that went into this decision. A lot of people just want to act on the decision that was made, but once you understand the input and the data that led to them coming to that conclusion, that's how you stay ahead of the curve.""It all goes back to finding ways to add value to your team and company, they emphasize. The more you know, the more you can contribute. And the more you contribute, the more concrete evidence you have to present to your manager when asking for a raise and explaining why you deserve it.Interview at other companies to know your worth Kiersten spent time interviewing for other roles both internally and externally ""to prove to myself that I could still get them,"" she says. Plus, ""having other job offers and options was valuable leverage in salary negotiations.""This can be a time-consuming and emotionally taxing strategy though. ""At first, it felt like a betrayal because nothing was wrong,"" she says. ""We're conditioned to feel indebted to our org charts and to only look for a pay increase when there's some kind of catalyst, positive or negative.""But the reality is, companies don't have a reliable way to keep track of the going rate for your skills. Unfortunately, salaries aren't dynamic based on the changing needs of the job market. The only way to understand is to go interview for yourself.""In the end, interviewing elsewhere ""was worth it,"" says Kiersten. ""Not just for the money, but because it made me a stronger manager overall.""Ask for what you deserveAt the end of the day, if you want to increase your salary, you can't wait for someone to offer a raise, no matter how hard you're working. You have to be prepared to ask and back it up.""One of the best pieces of advice I got is to never assume that your work speaks for itself,"" says Julien. ""I would always make the assumption that surely they would see the work that I'm doing. In reality, leaders are just as busy, if not more busy, than you are. They're making hundreds of decisions, they receive five to 10 times more emails than you do.""You have to get really creative at making sure that your contributions stand out.""Never assume that your work speaks for itself. I would always make the assumption that surely they would see the work that I'm doing. In reality, leaders are just as busy, if not more busy, than you are.Julien Saundersco-creator of Rich & RegularBe strategic about who you ask, Kiersten adds. ""I would attribute my success to not just asking, but asking the right allies. It was clear to me who was willing to help me in a real and meaningful way,"" she says.This is especially important for Black employees, who have to contend with racial bias when negotiating their salaries. If she didn't ask the right people within her company for a raise or promotion, ""I would not have had as much success with just asking by myself,"" Kiersten says. ""There's a social risk that comes with Black women who ask without a backend support system — and so it wasn't just me asking, it was a system of women who were advocating on my behalf."" There are a few ways to recognize a potential ally in the workplace, Kiersten says. Start by looking at their track record: ""If they lead teams, you can look at how often their direct reports have been promoted. I also looked for the 'natural' or 'selfless' helpers, people who volunteered to lead social committees or hung around after a big meeting to help clean up."" Before heading into any salary negotiation, keep in mind that ""your salary is not an indication of what you're worth or what your time is worth,"" emphasizes Kiersten. ""That's just what that company decided for that job. ... Open your mind to the possibility that your time and contribution is worth way more than whatever you're making at your job.""Don't miss: Couple who paid off $200,000 in debt and are on track to 'retire early' focus on earning instead of saving—here's whyCheck out: The best credit cards of 2020 could earn you over $1,000 in 5 years",Millennials who tripled their salaries in 10 years share their best advice for getting a raise.
"World August 1, 2022 / 12:47 PM / AFP Australian senator on queen's ""colonizing"" Australian lawmaker calls Queen Elizabeth a ""colonizing"" leader during swearing-in ceremony 01:10 Aboriginal Australian Senator Lidia Thorpe branded Britain's Elizabeth II a ""colonizing"" queen on Monday, as the recently elected lawmaker reluctantly swore allegiance while taking the oath of office.In a flash of protest, Greens Senator Thorpe raised her right fist in a Black Power salute as she begrudgingly swore to serve the 96-year-old monarch, who is still Australia's head of state.""I sovereign, Lidia Thorpe, do solemnly and sincerely swear that I will be faithful and I bear true allegiance to the colonizing Her Majesty Queen Elizabeth II,"" she said before being rebuked by a Senate official. ""Senator Thorpe, Senator Thorpe, you are required to recite the oath as printed on the card,"" said the chamber's president Sue Lines.After reciting the pledge as required, Thorpe declared on Twitter: ""Sovereignty never ceded."" Sovereignty never ceded. https://t.co/OowLrlUApy— Senator Lidia Thorpe (@SenatorThorpe) August 1, 2022 Australia was a British colony for more than 100 years, a period during which thousands of Aboriginal Australians were killed and communities were displaced wholesale. The country gained de facto independence in 1901, but has never become a fully fledged republic. In 1999, Australians narrowly voted against removing the queen, amid a row over whether her replacement would be chosen by members of parliament, not the public.Polls show most Australians are in favor of being a republic, but there is little agreement on how a head of state should be chosen.The issue was rekindled at the last election, when noted republican Anthony Albanese was elected prime minister. He quickly appointed the country's first ""minister of the republic.""""I do support a republic,"" Albanese told CNN on Sunday, but added that another referendum would have to wait until after a promised referendum on giving Aboriginal Australians an institutional role in policymaking. ""Our priority this term is the recognition of First Nations people in our Constitution,"" he said.Thorpe has also called for truth and reconciliation about the past, and a ""treaty"" that would legally acknowledge Aboriginal historical ownership of the land. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Indigenous Australian Senator Lidia Thorpe blasts ""colonizing"" Queen Elizabeth in oath of office."
"3D printed clouds and figurines are seen in front of the Oracle cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Oracle Corp (ORCL.N) has started to lay off employees in the United States, The Information said on Monday, citing a person with direct knowledge of the matter.The publication in July reported that Oracle was considering cutting thousands of jobs in its global workforce after targeting cost cuts of up to $1 billion. https://bit.ly/3OVYkoqThe company had about 143,000 full-time employees as of May 31, according to its latest annual report.Register now for FREE unlimited access to Reuters.comThe layoffs at Oracle will affect employees at its offices in the San Francisco Bay Area, Monday's report said, but it did not mention the number of employees affected. https://bit.ly/3Q7awTCOracle did not immediately respond to a Reuters request for comment.The report also said layoffs in Canada, India and parts of Europe were expected in the coming weeks and months.Technology giants Microsoft Corp (MSFT.O), Alphabet Inc (GOOGL.O) and Apple Inc (AAPL.O) have also discussed cuts or a slowdown in hiring plans in response to rising costs and fears of a recession.Register now for FREE unlimited access to Reuters.comReporting by Yuvraj Malik in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.",Oracle starts job cuts in U.S. - The Information.
"Author Stephen King speaks at a news conference in New York, February 9, 2009. REUTERS/Mike Segar/File PhotoRegister now for FREE unlimited access to Reuters.comCompaniesWASHINGTON, Aug 1 (Reuters) - The U.S. Justice Department asked a federal judge on Monday to block a $2.2 billion merger of two of the ""Big Five"" book publishers, Penguin Random House and Simon & Schuster, in a trial that is expected to feature testimony from horror writer Stephen King.""It's real money for real people,"" said Justice Department attorney John Read.Also on Monday, in the same federal courthouse in Washington, the Justice Department argued before a different judge that UnitedHealth Group's (UNH.N) $8 billion deal to buy Change Healthcare (CHNG.O) should be stopped. read more Register now for FREE unlimited access to Reuters.comIn the publisher merger trial, the government is focused not on what consumers pay for books but on advances paid to the most successful authors, especially those given $250,000 or more.""The evidence will show that the proposed merger would likely result in authors of anticipated top-selling books receiving smaller advances, meaning authors who labor for years over their manuscripts will be paid less for their efforts,"" the government said in a pretrial brief.The government also intends to show that there was concern among the merging parties that the deal is not legal. It previously disclosed an email sent by Simon & Schuster CEO Jonathan Karp who wrote: ""I'm pretty sure the Department of Justice wouldn't allow Penguin Random House to buy us, but that's assuming we still have a Department of Justice.""King, author of ""The Shining,"" ""Carrie"" and other blockbusters, will testify for the government, along with publishing executives and authors' agents.Hachette Book Group Chief Executive Officer Michael Pietsch is set to testify on Monday, while King is expected to testify on Tuesday.Penguin Random House, the largest book publisher in the United States, said it planned to buy rival Simon & Schuster in November 2020. Penguin Random House is owned by German media conglomerate Bertelsmann (BTGGg.F). Simon & Schuster is owned by ViacomCBS, now Paramount Global (PARA.O). The Justice Department filed its lawsuit in November 2021. read more The defense, led by lawyer Daniel Petrocelli who defeated the Trump administration's 2018 bid to stop AT&T Inc (T.N) from buying Time Warner, argued that the market for books, and for publishers to win top-selling authors, is competitive and that the merger will make it even more so.The government is asking the court to block the merger ""for under a 100 books a year,"" Petrocelli said in opening arguments, rejecting the idea that the largest booksellers will be able to reduce advances.The publishers will argue that the evidence shows that in bidding for potential bestsellers Penguin Random House and Simon & Schuster ""are rarely the top two bidders.""The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market. HarperCollins is owned by News Corp (NWSA.O).Judge Florence Pan of the U.S. District Court for the District of Columbia will decide if the deal may go forward. The trial is expected to last two to three weeks.Register now for FREE unlimited access to Reuters.comReporting by Diane Bartz and by David Shepardson in Washington; Editing by Matthew Lewis and Mark PorterOur Standards: The Thomson Reuters Trust Principles.Diane BartzThomson ReutersFocused on U.S. antitrust as well as corporate regulation and legislation, with experience involving covering war in Bosnia, elections in Mexico and Nicaragua, as well as stories from Brazil, Chile, Cuba, El Salvador, Nigeria and Peru.",Stephen King going to bat for U.S. gov't in case against book publishing mega-merger.
"U.S. President Joe Biden delivers remarks on the economy in the Eisenhower Executive Office Building's South Court Auditorium at the White House in Washington, U.S., July 28, 2022. REUTERS/Elizabeth FrantzRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States is ready to outline a new nuclear arms deal with Russia and called on Moscow to demonstrate its ability to negotiate in good faith, U.S. President Joe Biden said ahead of global nonproliferation discussions at the United Nations on Monday.Biden also called on China ""to engage in talks that will reduce the risk of miscalculation and address destabilizing military dynamics.""Officials from around the world are gathering in New York for the Tenth Review Conference for the Treaty on the Non-Proliferation of Nuclear Weapons (NPT), two years after it was delayed by the COVID-19 pandemic.Register now for FREE unlimited access to Reuters.comArms control has historically been an area where progress has been possible despite wider disagreements. The conference takes place five months after Russia invaded neighboring Ukraine and as U.S.-China tensions flare over Taiwan, the self-ruled island claimed by Beijing. read more Moscow and Washington in February extended their New START treaty, which caps the number of strategic nuclear warheads they can deploy and limits the land- and submarine-based missiles and bombers to deliver them, for five years.""Today, my Administration is ready to expeditiously negotiate a new arms control framework to replace New START when it expires in 2026,"" Biden said in a statement.""But negotiation requires a willing partner operating in good faith. And Russia’s brutal and unprovoked aggression in Ukraine has shattered peace in Europe and constitutes an attack on fundamental tenets of international order,"" Biden said. ""Russia should demonstrate that it is ready to resume work on nuclear arms control with the United States.""Asked about the statement, a source at the Russian Foreign Ministry questioned the seriousness of Washington's intentions, telling Reuters: ""Is this a serious statement or a hacking attack on the White House website? If it is still serious, with whom exactly do they intend to discuss it?"" read more Biden said China also had responsibility to play a leading role in nonproliferation.""There is no benefit to any of our nations, or for the world, to resist substantive engagement on arms control and nuclear non-proliferation,"" Biden said, citing ""this moment of uncertainty and upheaval on the global stage.""U.S. Secretary of State Antony Blinken, who will represent the United States at the U.N. meeting, echoed Biden's support for the NPT and its partner countries.Register now for FREE unlimited access to Reuters.comReporting by Susan Heavey and Reuters staff; editing by Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Biden urges Russia, China to engage in nuclear talks."
"The logo for Amazon Web Services (AWS) is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters Breakingviews) - Technology companies have stormed the heights of consumer finance, but they don’t face the regulation that vexes their old-world rivals. While no single financial watchdog has oversight of Apple (AAPL.O), Amazon.com (AMZN.O) or Facebook owner Meta Platforms (META.O), that could change. It all hangs on the views of a panel of watchdogs known as the Financial Stability Oversight Council.When a company like Apple decides to offer financial services, the potential impact is huge. Take the iPhone maker’s new buy-now-pay-later service. It’s starting small, with six-week duration loans and a borrowing limit of $1,000. But unlike the Apple-branded credit card that’s effectively run by Goldman Sachs (GS.N), the lending decisions and funding for buy-now-pay-later loans are Apple’s own. Tim Cook’s firm is doing some of what a Citigroup (C.N) or Bank of America (BAC.N) does, but without the onerous regulation.It's a question of potential rather than actual risk. Imagine half the number of iPhone users in the United States, or about 59 million based on estimates by Counterpoint research, end up using the pay-installment service. That would give Apple about as many consumer customers as General Electric’s (GE.N) financing arm, GE Capital, had in 2013. GE Capital required a bailout to back nearly $140 billion of its debt after it unraveled during the 2008 financial crisis.Register now for FREE unlimited access to Reuters.comThe cloud divisions of Silicon Valley giants also play a systemic role. The largest banks like JPMorgan (JPM.N) rely on Amazon and others for various tasks, including housing data, processing transactions and running applications. About 45% of banks use Amazon while a similar proportion depends on Microsoft (MSFT.O), with many using both, according to S&P Global’s 451 Research. A disruption or failure through a hack or natural disaster could upend operations and cause a panic.In GE’s case, it was FSOC that stepped in when it became clear that the regulatory framework had holes in it. The 15-member panel was created after the 2008 financial crisis, and now includes Treasury Secretary Janet Yellen, Federal Reserve Chair Jay Powell, Securities and Exchange Commission chief Gary Gensler and Consumer Financial Protection Bureau head Rohit Chopra. The council designated GE Capital a systemic risk in 2013, and put it under the supervision of the Fed, where it stayed until 2016.Tech companies would be a timely fit for FSOC. The group doesn’t perform day-to-day watchdog functions but can farm such duties out to an appropriate panel member. The Fed also took supervision of insurer AIG (AIG.N) after the 2008 financial crisis. Other FSOC members have their own expertise: the SEC’s is over capital markets, for example.And as with GE, it wouldn’t need to throw a regulatory net around the whole of a company. Apple, say, could be asked to carve out its Apple Financing subsidiary into a separate holding company, which could then be subject to rules on underwriting, credit quality and stress testing. Cloud businesses like Amazon Web Service or Microsoft Azure could be deemed systemically important financial utilities, a label already applied to other forms of market plumbing like the Chicago Mercantile Exchange.None of this would stop tech firms’ financial march, but it would slow them down. Regulated entities would need to have their own chief executive, board and come up with rules on cybersecurity and other areas. British authorities recently floated a range of options to make sure the financial system could withstand a cloud-computing snafu, including regular cyber resilience tests. And financial regulators often parachute examiners into the offices of the companies they supervise, who regularly check operations for risk management. That would be an unfamiliar intrusion for Silicon Valley.Even if FSOC drags its feet, more red tape for tech firms is inevitable. In October, the CFPB asked Apple, Alphabet’s (GOOGL.O) Google, and Facebook about their payment systems. The agency can issue enforcement actions for violations of user privacy, among other concerns, and leader Chopra is no stranger to assertively using his position on other regulatory bodies – as he showed when he helped speed the exit of then-head of the Federal Deposit Insurance Corporation, Donald Trump appointee Jelena McWilliams.Still, a more coordinated approach would be better. With billions of users and lax regulation, the risks to consumers and the broader system from big tech firms are growing. Watchdogs, meanwhile, are often reacting to past threats. Putting Silicon Valley on FSOC’s agenda would help keep the financial cops ahead of the game.Follow @GinaChon on TwitterRegister now for FREE unlimited access to Reuters.comEditing by John Foley and Amanda GomezOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Big Tech in finance? There’s a regulator for that.
"The Siemens Gamesa sign is displayed at the renewable energy company's headquarters in Zamudio, Spain, April 28, 2022. REUTERS/Vincent WestRegister now for FREE unlimited access to Reuters.comSummaryCompaniesJob cut deliberations come in response to mounting lossesNew Siemens Gamesa CEO joined from Siemens Energy in MarchSiemens Energy prepares 4.05 bln eur bid to buy out minoritiesMADRID/FRANKFURT, Aug 1 (Reuters) - Wind turbine maker Siemens Gamesa (SGREN.MC) is considering cutting around 2,500 jobs, or about 9% of its total, to recover from losses that have prompted its main shareholder to launch a takeover, two people familiar with the matter told Reuters.The cuts would reduce a workforce of some 27,000 people, based on figures on the company's website. It was not immediately clear which divisions or regions would be affected.No final decision has been made and the final tally could change, the people said.Register now for FREE unlimited access to Reuters.comSiemens Gamesa, which is scheduled to report third-quarter results on Aug. 2, declined to comment.News of the deliberations is the most concrete sign so far that CEO Jochen Eickholt, who joined Siemens Gamesa from parent Siemens Energy (ENR1n.DE) in March following three profit warnings, is making progress with the turbine maker's overhaul. read more Asked whether layoffs and plant closures were on the cards, Eickholt in June said he could not rule out anything.Producing masts and blades for the wind turbines many governments are banking on to wean themselves off fossil fuels has proved a tough business in recent years, amid fierce competition, COVID-19 disruptions and runaway metals prices exacerbated by the war in Ukraine. read more Siemens Gamesa has struggled in particular, partly due to delays in developing and delivering a new range of onshore turbines, prompting majority shareholder Siemens Energy to launch a 4.05 billion euro ($4.2 billion) bid to buy the one third stake it does not already own. read more Siemens Gamesa's market value has fallen 14.6% this year, compared with a 7.7 % drop for market leader Vestas (VWS.CO). The market is highly concentrated outside China: Siemens Gamesa, Vestas and U.S.-based GE Renewable Energy (GE.N) together make up 70% of the market in the rest of the world.A spokesperson for Siemens Energy said Siemens Gamesa's management was responsible for all operating matters.($1 = 0.9735 euros)Register now for FREE unlimited access to Reuters.comReporting by Isla Binnie and Christoph Steitz
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.","EXCLUSIVE Siemens Gamesa weighs around 2,500 job cuts - sources."
"Amazon vans line up at a distribution center to pick up packages for delivery on Amazon Prime Day in Orlando, Florida.Paul Hennessy | NurPhoto | Getty ImagesAmazon's carbon emissions jumped 18% last year, as the company reckoned with a pandemic-driven surge in e-commerce and grew its business to meet that demand.In its annual sustainability report issued Monday, Amazon said its activities emitted the equivalent of 71.54 million metric tons of carbon dioxide in 2021. That's up 18% from 2020, and an increase of nearly 40% from 2019, the year Amazon first began disclosing its carbon footprint.Amazon lowered its carbon intensity, which measures emissions per dollar of sales, by 1.9% in 2021, compared with a 16% decline in 2020.The Covid-19 pandemic led to a massive influx of orders at Amazon and other e-commerce companies. Many consumers, flush with stimulus checks, opted to do their shopping online to avoid risking exposure to the virus.The wave of demand pushed Amazon to expand its logistics network of delivery vans, planes and trucks. It rapidly launched new warehouses to process the stream of orders. Between 2020 and the end of 2021, Amazon doubled the size of the fulfillment network it had built over the previous 25 years, the company said.The company also added more data centers to support Amazon Web Services, as Covid-19 sped up corporations' shift to the cloud.Amazon unveiled its ""Climate Pledge"" in 2019. As part of the plan, Amazon has committed to be carbon neutral by 2040, and it purchased 100,000 electric delivery vans from Rivian Automotive that it expects to have on the road in the U.S. by 2030. It also launched a $2 billion venture capital fund to invest in new climate technologies, partly so that they may be used to further Amazon's sustainability goals.Amazon's climate record, and the ways it measures its own environmental record, have faced scrutiny. A report earlier this year by Reveal from the Center for Investigative Reporting found the company, in contrast to major retailers such as Target and Walmart, only counts product carbon emissions from the use of Amazon-branded goods, and not those it buys from manufacturers and sells directly to the customer. Representatives from Amazon didn't immediately respond to a request for comment on the reporting discrepancies highlighted in Reveal's investigation.WATCH: Watch the first look at Amazon and Rivian's electric delivery vans",Amazon emissions increased 18% last year as Covid drove online shopping surge.
"19 July 2022, Great Britain, London: Sun loungers for rent stand on a withered lawn in Hyde Park. In the background, people lie under green trees.Picture Alliance | Picture Alliance | Getty ImagesEngland just experienced its driest July since 1935, according to provisional statistics released Monday from the Met Office, the national meteorological service for the United Kingdom.England had 23.1 millimeters of rain in July, which is less than one inch. That's 35% of England's average rainfall for the month, according to the Met Office.Wales had about 2 inches of rain, which is 53% of its monthly average; Northern Ireland had 1.8 inches of rain, or 51% of its July monthly average and Scotland had about 3.3 inches of rain, which is 81% of its average reading for the month.Taken together, all of the United Kingdom had 56% of its average monthly rainfall for the month of July.Climate change driven by humans has contributed to the droughts.""Fluctuations in weather patterns determine when and where heatwaves and unusually dry spells take place, but the higher temperatures and thirstier atmosphere due to human caused climate change will have intensified the rate at which soils dry out and hence speed up the development of drought,"" Richard P. Allan, a professor of climate science at the University of Reading Department of Meteorology, told CNBC.The decades-long record for dry weather is also a part of what contributed to recent wildfires throughout the region — and many other parts of Europe, too. Regional heat waves are the other half of the wildfire equation: A hot, dry season leaves vegetation a veritable tinderbox.July 19, a Tuesday in the middle of the month, was the busiest day for the fire department in London since World War II, according to Sadiq Khan, the mayor of London.""It is important for us to recognize that one of the consequences of climate change and these sorts of temperatures that lead to the fires you are seeing,"" Khan said in an interview on Sky News on July 20.""The challenge in London is we have a lot of grass, a lot of green spaces and a lot of that impinges on properties. And when you have not had rain for a long period, when the grass is incredibly dry, fires can start very quickly and spread even faster because of wind and that leads to properties being destroyed,"" Khan said.Indeed, July 19 was a scorcher. The Met Office has since announced that Coningsby, Lincolnshire, reached 40.3 degrees Celsius, which is 104.5 degrees Fahrenheit, on July 19. That is the first time the United Kingdom has recorded a temperature of 40 degrees Celsius.The provisional statistics from the Met Office are based on climate data from 270 weather stations throughout the United Kingdom. Over the coming weeks, data from hundreds more co-operating climate and rainfall stations will be included in final figures that come out from Met Office at a later date.",England just had its driest July since 1935.
"A flag outside the U.S. Securities and Exchange Commission headquarters in Washington, D.C., U.S., on Wednesday, Feb. 23, 2022.Al Drago | Bloomberg | Getty ImagesOn Monday, the Securities and Exchange Commission said it charged 11 people for their roles in creating and promoting an allegedly fraudulent crypto pyramid and Ponzi scheme that raised more than $300 million from millions of retail investors worldwide, including in the United States.The scheme, called Forsage, claimed to be a decentralized smart contract platform, and it allowed millions of retail investors to enter into transactions via smart contracts that operated on the ethereum, tron, and binance blockchains. But under the hood, the SEC alleges that for more than two years, the setup functioned like a standard pyramid scheme, in which investors earned profits by recruiting others into the operation. In a statement, the SEC added that Forsage operated a typical Ponzi structure, wherein it allegedly used assets from new investors to pay earlier ones.""As the complaint alleges, Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" wrote Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber Unit.""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Forsage, through its support platform, declined to offer a method for contacting the company and did not offer comment.Four of the eleven individuals charged by the SEC are founders of Forsage. Their current whereabouts are unknown, but they were last known to be living in Russia, the Republic of Georgia, and Indonesia.The SEC has also charged three U.S.-based promoters who endorsed Forsage on their social media platforms. They were not named in the SEC release.Forsage was in launched in Jan. 2020, and regulators around the world had tried a couple different times to shut it down since then. Cease-and-desist actions were brought against Forsage first in Sept. of 2020 by the Securities and Exchange Commission of the Philippines, and later, in Mar. 2021, by the Montana Commissioner of Securities and Insurance. Despite this, the defendants allegedly continued to promote the scheme while denying the claims in several YouTube videos and by other means.Two of the defendants, both of whom did not admit or deny the allegations, agreed to settle the charges, subject to court approval.",SEC charges 11 people in alleged $300 million crypto Ponzi scheme.
"U.S. Secretary of State Antony Blinken addresses the United Nations General Assembly during the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comUNITED NATIONS, Aug 1 (Reuters) - A return to the 2015 nuclear deal remains the best outcome for the United States, Iran and the world, U.S. Secretary of State Antony Blinken said at global nonproliferation discussions at the United Nations on Monday.Blinken also repeated a U.S. warning that North Korea is preparing to conduct its seventh nuclear test.U.S. President Joe Biden said earlier that Washington was ready to outline a new nuclear arms deal with Russia and called on Moscow to demonstrate its ability to negotiate in good faith at the talks that began on Monday. read more Register now for FREE unlimited access to Reuters.comReporting by Michelle Nichols and Simon Lewis; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.","Return to nuclear deal remains the best outcome for U.S., Iran, the world - Blinken."
"A sign marks a PerkinElmer facility in Boston, Massachusetts, U.S., May 15, 2020. REUTERS/Brian Snyder/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - PerkinElmer Inc (PKI.N) on Monday agreed to sell three of its businesses to private equity firm New Mountain Capital for up to $2.45 billion in cash, as it looks to focus on its life sciences and diagnostics businesses under a new name.Proceeds from the divestiture will be used to invest in growth in the life sciences and diagnostics segments and to fund future acquisitions, PerkinElmer said. Diagnostics will generate around 60% of the company’s 2022 estimated revenue of $3.3 billion, while life sciences will account for the remainder.The sale marked the conclusion of a strategic review where other options, including a spin-off of the units, were also considered, according to a source familiar with the matter.Register now for FREE unlimited access to Reuters.comThe sale process included both strategic and private equity suitors, the source said, requesting anonymity as these discussions were confidential.The price tag of the three units -- applied, food, and enterprise services -- implies a valuation of about 14 to 16 times its 2022 estimated EBITDA (earnings before interest taxes depreciation and amortization), the source said.Shares of PerkinElmer were up over 6% in midday trading on Monday. The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals.PerkinElmer will get $2.3 billion when the deal closes, while the remaining $150 million will be paid to them later when New Mountain sells some of the assets related to the units it acquires.Direct lenders led by Owl Rock Capital helped finance the deal.The divested businesses will continue to use the PerkinElmer brand, while the life sciences and diagnostics businesses that remain will be run by the existing management under a new name and stock ticker that will be announced later, PerkinElmer said.""The divestiture on (the) surface improves the growth profile of the company,"" Evercore analyst Vijay Kumar said in a note.Goldman Sachs advised PerkinElmer on the deal, while Jefferies advised New Mountain Capital.Register now for FREE unlimited access to Reuters.comReporting by Leroy Leo in Bengaluru and David Carnevali in New York; Editing by Shinjini Ganguli, Anirban Sen and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.",PerkinElmer divests three business units in $2.45 bln deal.
"Register now for FREE unlimited access to Reuters.comLAGOS, Aug 1 (Reuters) - Dubai's Emirates plans to reduce flights to Nigeria this month due to troubles repatriating revenue from Africa's most populous nation, according to a letter sent to the government and seen by Reuters.Emirates plans to cut the number of flights to Lagos to seven from 11 by mid-August, the letter said, adding it had $85 million stuck in the country as of July, a figure that had been rising by $10 million per month.Industry observers say more airlines could follow suit if the central bank, which restricts access to foreign currency to tackle a severe dollar shortage, did not address airlines' issues.Register now for FREE unlimited access to Reuters.com""We have no choice but to take this action, to mitigate the continued losses Emirates is experiencing as a result of funds being blocked in Nigeria,"" it said in a letter to aviation minister Hadi Sirika dated July 22.A spokesperson for the aviation ministry did not reply to a request for comment. An Emirates passenger plane comes in to land at London Heathrow airport, Britain, May 21, 2020. REUTERS/Toby Melville/File PhotoEmirates, in an emailed statement, said trouble repatriating funds was impacting its commercial viability in Nigeria and that efforts to solve the problem had been met with limited success.Emirates did not comment directly on the letter and said it hoped to continue a full schedule.Last week, the naira's black market value versus the dollar dropped to a record low. The central bank said it was worried about the naira's value. read more Nigeria, which gets roughly 90% of its foreign exchange from oil, is struggling to produce due to pipeline theft and years of underinvestment. read more Amid similar foreign exchange restrictions in 2016, several airlines reduced flights and carriers Iberia and United Airlines stopped flying to Nigeria altogether. The latter re-launched a Nigerian service last year, but Iberia has yet to return.The International Air Transport Association said in June Nigeria was withholding hundreds of millions in revenue that international carriers operating in the country had earned. read more Register now for FREE unlimited access to Reuters.comAdditional reporting by Camillus Eboh in Abuja and Maha El Dahan in Dubai
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Emirates plans to reduce Nigeria service due to trapped revenue - letter.
"Prime Minister of Japan Fumio Kishida addresses the United Nations General Assembly during the Nuclear Non-Proliferation Treaty review conference in New York City, New York, U.S., August 1, 2022. REUTERS/David 'Dee' DelgadoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 1 (Reuters) - Japanese Prime Minister Fumio Kishida on Monday urged all nuclear states to conduct themselves ""responsibly"" in non-proliferation efforts at a time when he said the road to a world without nuclear arms had become much more difficult.Kishida, the leader of the only nation to have suffered wartime nuclear attacks, warned that global divisions were deepening, particularly since Russia's invasion of Ukraine, with Russian President Vladimir Putin at the start of the conflict obliquely raising the possibility of a nuclear strike.North Korea, which has carried out numerous missile tests this year, is also believed to be preparing a nuclear test.Register now for FREE unlimited access to Reuters.com""The world is worried that the threat of the catastrophe of use of nuclear weapons has emerged once again,"" he said in a speech.""It must be said that the path to a world without nuclear weapons has suddenly become even harder.""Kishida was speaking at the Review Conference of the Parties to the Treaty on the Non-Proliferation of Nuclear Weapons (NPT) at the United Nations in New York City, the first Japanese leader to do so.A native of Hiroshima, which on Aug. 6, 1945 became the first city in the world to suffer a nuclear bombing during the waning days of World War Two, Kishida has made nuclear non-proliferation something of a cause.The second nuclear bombing, of Nagasaki, came three days later.Kishida was foreign minister when U.S. President Barack Obama visited Hiroshima in 2016 as the first sitting U.S. president to do so, and has selected Hiroshima as the site for next year's Group of Seven nations summit.U.N. Secretary-General Antonio Guterres said on Monday he will visit Hiroshima for the Aug. 6 anniversary.""We call for all nuclear states to conduct themselves responsibly,"" regarding non-proliferation efforts, Kishida said.""From this standpoint, we support negotiations on arms control and nuclear reduction between the United States and Russia, and encourage similar talks between the United States and China.""He said other efforts should include boosting transparency regarding nuclear weapons, strengthening efforts such as the non-proliferation treaty, and announced the establishment of a $10 million fund to educate youth leaders about the dangers of nuclear weapons.""Nagasaki must become the last bombed city,"" Kishida said.He also said peaceful uses of nuclear energy should be promoted while maintaining its safety, lessons learned from the 2011 Fukushima nuclear disaster.Following a surge in fuel prices and a June heat wave in which Japan skirted a power shortage, Kishima has promoted nuclear power and and has said he has asked for nine reactors to be online by the end of the year, up from the current five.Register now for FREE unlimited access to Reuters.comReporting by Elaine Lies in Tokyo; Editing by Andrew Heavens and Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Japan PM Kishida urges nuclear states to act 'responsibly' about non-proliferation.
"Pedestrians walk across Nevsky Avenue in central Saint Petersburg, Russia May 28, 2022. REUTERS/Anton VaganovRegister now for FREE unlimited access to Reuters.comSummaryCompaniesThis content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Aug 1 (Reuters) - Russia's economic contraction will deepen in the third quarter of 2022, while its strong current account surplus, the key driver of the rouble's recent rebound, will shrink in the second half of this year, the central bank said on Monday.Russia's export-dependent economy is plunging into recession after Moscow sent tens of thousands of troops into Ukraine on Feb. 24, triggering sweeping financial and economic sanctions from the West.Gross domestic product will fall by 7% in the third quarter after contracting by 4.3% in the second quarter, the central bank said, projecting the economy will start recovering in the second half of 2023.Register now for FREE unlimited access to Reuters.com""According to the Bank of Russia's updated forecast, the contraction in 2022 will be less deep than expected in April. At the same time, the impact of supply shocks may be more protracted over time,"" the central bank said in a report on monetary policy.In 2022, the economy will shrink by 4-6% and by 1-4% in 2023 before returning to growth of 1.5-2.5% in 2024, the central bank said, reiterating a forecast it voiced when slashing its key interest rate to 8% in July. read more The central bank also said it expected the budget rule, which caps Russia's budget spending and diverts excess oil revenues into its rainy-day fund, to be reinstated by the finance ministry from 2023 in its base case scenario.Purchases of foreign currency under the budget rule, designed to replenish state reserves by buying FX when oil prices are high, were suspended when the rouble weakened sharply in January weeks before Feb. 24.The new budget rule, which is yet to be revealed by the finance ministry and approved by President Vladimir Putin, is expected to put downside pressure on the rouble, which has become the world's best-performing currency this year thanks to capital control measures. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Russian central bank says economic downturn to deepen in Q3.
"Register now for FREE unlimited access to Reuters.comLONDON, July 29 (Reuters) - After headlining a festival in the metaverse, virtual singer and influencer Polar has ambitions to perform in the real world - drawing inspiration from the avatar concerts pioneered by Swedish pop giants ABBA, the digital team behind her says.The creation of media company TheSoul Publishing, Polar currently exists only in virtual world environments and on social media.Her career took off in 2021 when she performed her debut single ""Close To You"" in the video game ""Avakin Life"", and she has 1.6 million followers on TikTok and a YouTube channel with more that 500,000 subscribers.Register now for FREE unlimited access to Reuters.comFans were able to interact with her again last month at the game's annual Solar Sounds Festival, which Victor Potrel, TheSoul Publishing's Vice President of Platform Parnerships, said attracted more than 4 million visitors last year.""I want to perform a live show in a real venue in front of my real world fans. It may not be as far away as people think,"" Polar said in answer to a question submitted by told Reuters.Potrel said that, while the focus was on the huge audience in the metaverse, her team were considering options for possible real events too.""ABBA is doing a series of concerts where they are a hologram on stage, and we think that that's a possible to also bring Polar to the real world in this way,"" he said.""So definitely we are looking at design possibilities and potential.""As regards the merging of digital and real world spaces, in the future Potrel thinks we will see more fluidity.""Maybe you will not always know ..if you're in front of the virtual artist or the real artist,"" he said.Register now for FREE unlimited access to Reuters.comReporting by Sarah Mills; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.","Inspired by ABBA, digital popstar Polar aims for real-world debut."
"Early outlook for Q3 economic growth doesn't look goodThe outlook for economic growth in the third quarter already is looking fairly grim.Following Monday's ISM manufacturing reading, which was the lowest since June 2020, tracking data for Q3 growth moved lower.The Atlanta Federal Reserve's GDPNow real-time tracker now is indicating a gain of just 1.3%, down from the initial 2.1% reading Friday. Goldman Sachs also lowered its outlook, dropping its already meager 1% tracking estimate down to 0.9%. Also, Capital Economics said the early Q3 data is pointing to an annualized GDP gain of just 1.5%.That follows Thursday's advance estimate of Q2 which showed a decline of 0.9%. Following Q1's 1.6% decline, that put the economy into a widely accepted definition of recession. — Jeff CoxBoeing leads stocks making the biggest moves midday Shares of Boeing continue to surge Monday, leading the Dow Jones Industrial Average higher. The stock jumped after CNBC reported that the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. The company also avoided a strike at some of its manufacturing plants. Stocks at midday: S&P 500 slips, Dow, Nasdaq upStocks were mixed in midday trading, continuing the earlier trend of struggling to find a solid direction. The S&P 500 erased earlier gains to slip about 0.2%. The Dow was up about 53 points or 0.16% and the Nasdaq was up 0.33% — Carmen ReinickeOil heading back to $130, says GoldmanOil prices declined on Monday amid demand concerns, but Goldman's Jeff Currie believes fears of an all-out demand slowdown are overblown.He sees international benchmark Brent crude touching $130 by the end of the year. On Monday, the contract traded roughly 3.2% lower at $100.68 per barrel.Supporting his bull case is the demand picture. While demand growth might be slowing, it's not contracting. Currie said this key point is being left out of the broader narrative in the commodities market.""The overall demand picture — it's still growing,"" he said Monday on CNBC's ""Squawk Box.""— Pippa StevensEnjoy this rally while it lasts, says Mike WilsonTraders work on the floor of the New York Stock Exchange (NYSE) on December 02, 2021 in New York City.Spencer Platt | Getty ImagesMorgan Stanley's chief U.S. equity strategist Michael Wilson believes the recent rally won't last long as corporate earnings are posited to start deteriorating.""While the bond market is starting to assume they get inflation under control, it may come with a heavier cost than normal, potentially a recession while they are still tightening, which may leave a very small window for stocks to work before earnings surprise on the downside,"" Wilson said in a note to clients.""We think that window is now but it can shut quickly. Risk reward is poor after the recent rally so trade accordingly as time may be running out,"" he added.Wilson, one of Wall Street's biggest bears, said the decline in stocks in June didn't fully reflect the risk of a recession as earnings typically fall much more drastically in a downturn.— Yun LiStocks are struggling for directionThe market can't seem to pick a trend in early trading. The major averages wavered between gains and losses for most of the month's first hour of trading. The Dow Jones Industrial Average, for example, fell as much as 204 points — only to trade as much as 87 points higher minutes later. As of 10:42 a.m. ET, the 30-stock average was down just 8 points. This choppy trading action comes amid somewhat weak market breadth. Roughly four stocks declined at the New York Stock Exchange for every three advancers. Meanwhile, just 193 S&P 500 stocks were positive on the day. To be sure, these moves come amid relatively high volume, at least in early trading. FactSet data shows the SPDR S&P 500 ETF Trust (SPY), which tracks the benchmark index, traded 9.17 million shares between 9:30 a.m. and 9:59 a.m. ET. That's well above an average of 7.29 million shares traded in that time period. The SPY has also topped its average volume for the 10 a.m.-10:59 a.m. time frame, with 19.36 million shares having exchanged hands.—Fred ImbertManufacturing index hits lowest since June 2020 as price increases slowA worker builds frames for solar panels at First Solar in Perrysburg, Ohio July 8, 2022.Megan Jelinger | ReutersManufacturing expanded in July for the 26th straight month, but at the slowest pace since June 2020, according to the latest Institute for Supply Management reading.The index registered a 52.8 reading for the month, representing the percentage of businesses seeing growth for the month. The number fell slightly from June's 53 reading, but was a bit above the Dow Jones estimate for 52.1.Importantly, one big reason for the low reading was a massive slide in the prices index, which tumbled 18.5 points to 60. Though the number indicates that price increases are still strong, the relative decline is significant for an economy with an inflation rate running at its fastest pace since the early 1980s. The monthly decline in the index was the biggest fall since June 2010.In another encouraging development, the employment index rose to 49.9, still barely in contraction territory but 2.6 points higher than June. New orders dropped to 48 while inventories edged higher to 57.3.Comments from participants indicate that inflation and supply chain bottlenecks remain a concern.""Growing inflation is pushing a stronger narrative around pending recession concerns. Many customers appear to be pulling back on orders in an effort to reduce inventories,"" said one respondent in the food, beverage and tobacco products industry.— Jeff CoxOil leads the sell-off, Cramer says Declining oil prices are the main contributor to the early sell-off hitting markets, according to Jim Cramer.""This sell-off by the way is all oil, which is really rather amazing,"" he said on CNBC's ""Squawk on the Street"" on Monday. Oil prices slipped on the back of weak manufacturing data from China and Japan and ahead of a meeting of OPEC officials. Brent crude at one point dipped below $100 a barrel. — Samantha SubinConsumer sectors buck market's negative trendBoth the consumer staples and consumer discretionary sectors traded higher Monday, bucking a broader market decline. The S&P 500 staples sector advanced nearly 1%, while consumer discretionary gained 0.8%. Colgate-Palmolive led staples with a 2.6% gain. Dollar Tree, Dollar General and Target advanced more than 2% each to lead discretionary stocks higher. Tesla, which is also part of the discretionary sector, gained 4.2%.—Fred ImbertEnergy stocks fall as oil slumpsThe weakness in oil prices was weighing on major energy stocks in early trading.Shares of Diamondback Energy fell 3.7%, while ExxonMobil slid more than 2%. Chevron dipped 1.6%. Devon Energy and Occidental Petroleum shed 2.6% and 1.5%, respectively.Futures for U.S. benchmark West Texas intermediate crude were last down more than 5%, trading at roughly $93.30 per barrel. European benchmark Brent crude fell more than 4% to break below $100 per barrel.— Jesse PoundStocks fall to kick off Monday Stocks fell to start Monday's session, kicking off August in the red. The Dow Jones Industrial Average slipped 154.4, points, or 0.47%. The S&P 500 fell 0.81% and the Nasdaq Composite dropped 0.90%.— Carmen ReinickeTech shares set to lead the market lowerTechnology shares, among the best performers since the market bottomed in mid-June, were set to fall slightly on Monday. Apple, Microsoft, Alphabet were all in the red in premarket trading. Apple shares are up 25% since the S&P 500's bottom on June 16 through Friday. Microsoft is up 14% and Alphabet is 10% higher over the same period.— John MelloyHere are the reasons why the bottom is not in yet, according to BofA's SubramanianIt's too soon to call the bottom even as the S&P 500 just enjoyed its best month since November 2020, according to BofA Securities head of U.S. equity and quantitative strategy Savita Subramanian.The strategist said the stock market typically bottoms after earnings estimates get slashed dramatically, but that hasn't happened yet.""Was June low the big low? We need more EPS cuts,"" Subramanian said in a note. ""We are still in the very early innings of downturn and estimate cuts.""During the prior five recessions except in 1990, the S&P 500 bottomed after estimates were revised down, but today, estimate cuts are just starting and forward earnings per share is still up 7% since the market peak, the strategist said.Secondly, Bank of America's bull market signposts indicate it's premature to call a bottom. Subramanian said historical market bottoms were accompanied by over 80% of these indicators being triggered, and now just 30% are triggered.Lastly, she said bear markets always ended after the Federal Reserve started to cut interest rates, which is a scenario that's at least six months away.— Yun LiBoeing rises in premarket tradingA Boeing 787-10 Dreamliner taxis past the Final Assembly Building at Boeing South Carolina in North Charleston, South Carolina, March 31, 2017.Randall Hill | ReutersShares of Boeing rose more than 4% in premarket trading, helping to trim the overnight losses for futures.The move comes after the Wall Street Journal and Reuters reported over the weekend that U.S. regulators approved the company's planned inspection changes to the 787 Dreamliner.Additionally, a potential strike among Boeing machinists in St. Louis was averted until at least Wednesday, when the workers will vote on a new contract.Boeing's stock has been hot in recent weeks, rising more than 16% in July.— Jesse PoundStock futures slumpStock futures fell back into the red on Monday ahead of market open, erasing earlier gains. Dow Jones Industrial Average futures shed 49 points, or 0.15%. S&P 500 futures and Nasdaq 100 futures slipped 0.27% and 0.17%, respectively.— Carmen ReinickeOil prices move lower on demand concerns Oil prices declined during Monday morning trading on Wall Street after soft manufacturing data out of China prompted demand slowdown concerns. West Texas Intermediate crude, the U.S. oil benchmark, shed 2.3%, or $2.31, to trade at $96.31 per barrel. International benchmark Brent crude dipped 1.8% to $102.07 per barrel. WTI rose 4.14% last week, for its first positive week in four. However, it ended July in the red for its second straight losing month. — Pippa StevensStock futures climb back from overnight lowsStock futures rose from overnight lows to trade flat Monday morning ahead of the open. Both Dow Jones Industrial Average futures and Nasdaq 100 futures turned positive, trading slightly in the green. S&P 500 futures were still negative but gained from trading overnight. — Carmen ReinickeU.S. Dollar lowest since July 5 U.S. dollar bills seen on display. The euro nursed losses on Wednesday after its sharpest drop in two weeks, as a cut in Russian gas supply sent energy prices soaring, while the dollar held ground ahead of an expected U.S. interest rate hike later in the day.Igor Golovniov | Lightrocket | Getty ImagesThe dollar index sank to 105.311 Monday, its lowest level since July 5 as investors bet that the Federal Reserve's rate hikes will tip the economy into recession. Year to date, the index is still up nearly 10%.The dollar slumped to 131.87 against the yen, its lowest in six weeks.Both the Euro and the Pound gained against the dollar as well, hitting the highest levels against the currency since July 21 and June 28, respectively.The Australian dollar also rose to 0.7046 against the dollar.— Carmen ReinickeBitcoin edges lower after posting its best month of the yearBitcoin fell about 3% early Monday after coming off its best month of 2022, as stock futures took a small dip. The cryptocurrency rallied on Wednesday through Friday as investors responded to updates from the Federal Reserve about its rate hiking path as well as the latest GDP report, and pulled back over the weekend as the possibility that the market has likely hit a bottom began to settle in. Bitcoin continues to trade in tandem with stocks, whose major indexes also notched their best months of the year Friday.""Bitcoin may be struggling to break above the $24,000 level, but its weekly candle finally closed above the 200-week moving average and that could improve the technical sentiment significantly,"" said Yuya Hasegawa, crypto market analyst at Japanese crypto exchange Bitbank. ""In case of break out, the price could retrace its June loss and could go as high as $32,000.""— Tanaya MacheelTarget shares rise on upgradeA Target store in New York, on Thursday, July 28, 2022.Victor J. Blue | Bloomberg | Getty ImagesStrong July sets up S&P 500 for more gains in August and September, Bank of America saysThe Charging Bull or Wall Street Bull is pictured in the Manhattan borough of New New York, January 16, 2019.Carlo Allegri | ReutersThe market's strong performance in July could be lead to more gains in August and September, data compiled by Bank of America shows.Stephen Suttmeier, a technical strategist at the bank, said in a note that, when the S&P 500 rises 5% or more in July, ""August and September show stronger seasonality vs when July is not up 5% or more and for all years back to 1928.""More specifically, the benchmark index averages a return of 2.01% in August after such a strong July, with the S&P 500 rising 59% of the time. September, meanwhile, is up 55% of the time and averages a return of 0.73% in these scenarios.The S&P 500 rallied 9.1% in July, marking its biggest one-month gain since November 2020.— Fred ImbertEuropean markets make a cautious start to August trading; HSBC up 6%Alibaba says it will try to keep U.S., Hong Kong listingsSignage for Alibaba Group Holding Ltd. covers the front facade of the New York Stock Exchange November 11, 2015.Brendan McDermid | ReutersChinese e-commerce giant Alibaba said it will comply with U.S. regulators and work to maintain its listings in New York and Hong Kong.""Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange,"" it said in a statement to the Hong Kong bourse.The statement came after Alibaba was added to the U.S. Securities and Exchange Commission's list of Chinese companies at risk of being delisted for not meeting auditing requirements on Friday. U.S.-listed Alibaba shares plunged 11% in the Friday trading session.— Sumathi BalaWall Street analysts back these 'safe-haven' consumer stocks to outperform — even if spending slowsInflation is hitting consumers' wallets, and the economy looks to be slowing.With the consumer accounting for 68% of all economic activity in the first quarter, it is a key metric to watch.What does all of this mean for consumer-related companies, and will they hold up in a recession? Wall Street analysts pick the consumer stocks they say are resilient, even as the economy slows. Pro subscribers can read more here.— Weizhen TanGrowth in Chinese factory activity slowed in July, private survey showsChinese factory activity grew in July, but at a slower pace than in June, according to the latest Caixin/Markit manufacturing Purchasing Managers' Index.The private survey print came in at 50.4, down from 51.7 in June.PMI readings are sequential and represent expansion or contraction from the month before. A figure above 50 represents growth.Over the weekend, official data from the National Bureau of Statistics showed that factory activity declined, with the PMI at 49.— Abigail NgEarnings season numbers So far, 56% of companies in the S&P 500 have reported results for the second quarter 2022. Of those, 73% have reported EPS results above analyst estimates, according to FactSet.That means that so far, blended earnings growth – including both companies that have reported and estimates for those reporting later – is 6% for the second quarter. That's higher than the blended earnings growth seen in last week.Still, if the actual earnings growth rate is 6% at the end of the season, it will mark the lowest earnings growth rate for S&P 500 companies since the fourth quarter of 2022.Revenue, on the other hand, is outperforming earnings. The blended revenue growth rate so far is 12.3%, up from last week and last quarter. If the actual revenue growth rate is 12.3% it will mark the sixth-straight quarter of year-over-year revenue growth of more than 10% for the index.— Carmen ReinickeStats for the end of July All three major indexes ended the day higher on Friday, capping off a solid month of trading in July. Here are other key stats about how stocks traded last month.The Nasdaq composite closed more than 22% from 52-week highs, while the S&P 500 and the Dow closed more than 14% and 11% from their 52-week highs, respectively.The Dow gained 6.73% in July, its best month since Nov. 2020. It was also the S&P 500's best month since Nov. 2020. It gained 9.11% in July.The Nasdaq composite gained 12.35% in July and broke a three-month losing streak. It was the best month for the index since April 2020.Only health care, consumer staples and utilities sectors closed within 10% of 52-week highs. Still, all 11 sectors were positive in the month of July.U.S. Treasury yields were lower on Friday, narrowing spreads.— Carmen ReinickeLast week in the stock market Investors are still watching for signs that the U.S. is in a recession and that inflation is slowing down. Last week, the Federal Reserve increased its benchmark interest rate by another three-quarters of a percentage point to stave off high inflation.The first reading of second-quarter GDP on Thursday was negative, potentially pointing to a technical recession. On Friday, the June personal consumption expenditures hit the highest level since January 1982. The report is a key inflation measure.Solid earnings reports from Amazon and Apple boosted each company stock and lifted the indexes higher to round out July. Energy companies such as Chevron and Exxon Mobil also rose on better-than-expected reports, ending Friday higher. Not all earnings have been rosy, however. Meta Platforms and Intel both posted disappointing results, sending shares lower.— Carmen ReinickeStock futures open lowerStock futures opened just slightly lower to start trading Sunday evening.Dow and S&P 500 futures were lower by 0.2%. Nasdaq futures were off by about 0.3%.— John MelloyWhat's ahead this weekStocks enter the typically volatile month of August with a tailwind. There are dozens of earnings reports in the week ahead, with more than 20% of the S&P 500 companies reporting. There is also key data, with Friday's July jobs report the most important. Big economic reports could become important catalysts now that the Federal Reserve has indicated it is going to rely on data for its decision on how much to raise interest rates in September. Fed Chairman Jerome Powell said the labor market remains strong, and investors worried about an economic slowdown will be carefully watching to see how strong job creation remains. There are 250,000 jobs expected. According to CFRA, since 1995, the S&P 500 has averaged a 0.5% decline in August. Strategists say earnings could remain a positive force.""A lot of this is better than feared. If that process continues, it's likely to help the market grind higher. The market seems to be sitting on this notion that we had priced in Armageddon and thus far, that has not been thrust upon us,"" said one strategist.— Patti Domm",S&P 500 starts August little changed following its best month since 2020.
"A 3D-printed oil pump jack is seen in front of the OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryOPEC output rises 310,000 bpd from June, led by SaudiQuota-bound members undershoot July target by 1.3 million bpdSupply drops most in Nigeria, Libyan output slow to returnOutput by country:LONDON, Aug 1 (Reuters) - OPEC pumped an extra 310,000 barrels of oil per day in July as rising supply from the Gulf offset outages in Nigeria and Libya, a Reuters survey showed on Monday, with members delivering nearly 60% of an output hike pledged under a deal with allies.The Organization of the Petroleum Exporting Countries (OPEC) pumped 28.98 million barrels per day (bpd) of crude last month, the survey found, up 310,000 bpd from June's revised total.Some 240,000 bpd of that increase came from the 10 OPEC producers who had signed up to agreement between OPEC and allies led by Russia - a group known as OPEC+ - in which they had pledged to boost output by an extra 412,000 bpd.Register now for FREE unlimited access to Reuters.comOPEC+ is unwinding 2020 output cuts made due to the pandemic, though many are struggling to deliver the full volumes. The deal called for a 648,000 bpd increase in July from all OPEC+ members, including the 412,000 bpd from OPEC signatories.Another increase in output is not expected when OPEC+ meets on Wednesday. ""The meeting is not likely to see a surprise outcome in terms of a production hike,"" an OPEC+ source said. read more Output has undershot pledged hikes between October and June, with the exception of February, according to Reuters surveys, as many producers lack the capacity to pump more due to insufficient investment, a trend accelerated by the pandemic.As a result, the 10 OPEC members are pumping far less than called for. Output undershot the July target by 1.3 million bpd, the survey found, and compliance with the remaining pledged cuts was 418%, up from 253% in June.SAUDI, LIBYAThe biggest increase in production, of 150,000 bpd, came from top exporter Saudi Arabia, the survey found, although the kingdom continued to pump less than its target.Output in Libya, which dropped sharply due to unrest in June, posted a slow recovery and by the end of the month had recovered to normal levels. Libya is one of the members exempt from making voluntary cuts.The United Arab Emirates and Kuwait boosted supply largely in line with their quotas, while Iraqi output edged higher.The biggest decline, of 70,000 bpd, came from Nigeria, where outages and maintenance curbed output. Production in Iran and Venezuela, the other two exempt producers, was steady.The Reuters survey aims to track supply to the market. It is based on shipping data provided by external sources, Refinitiv Eikon flows data, information from tanker trackers such as Petro-Logistics, and information provided by sources at oil companies, OPEC and consultants.Register now for FREE unlimited access to Reuters.comAdditional reporting by Ahmad Ghaddar; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.",OPEC oil output rises in July despite outages - survey.
"The app of Indian food delivery company Zomato is seen on a mobile phone above its logo displayed in this illustration picture taken July 14, 2021. REUTERS/Florence Lo/IllustrationRegister now for FREE unlimited access to Reuters.comBENGALURU, Aug 1 (Reuters) - Indian food delivery firm Zomato Ltd (ZOMT.NS), backed by China's Ant Group (688688.SS), posted a smaller quarterly loss on Monday, helped by an increase in orders for restaurant meals on its platform.The company's net loss stood at 1.86 billion Indian rupees ($23.52 million) for the three months ended June 30, compared with a loss of 3.56 billion rupees a year ago, the company said in a regulatory filing.Zomato's revenue from operations, which mostly comes from its mainstay food delivery and related fees it charges restaurants for using its platform, rose to 14.14 billion rupees from 8.44 billion rupees a year ago.Register now for FREE unlimited access to Reuters.comThe Gurugram-based company, which operates in more than 1,000 towns and cities in India, also offers online table booking and special discounts at select restaurants.Gross order value - or the total value of all food delivery orders placed online on Zomato's platform - for the first quarter rose 41.6% to 64.3 billion rupees from a year ago, with average monthly transacting customers at 16.7 million.While Zomato has disclosed quarterly losses since going public in 2021, it has seen a consistent rise in orders.""Margins are getting negatively impacted due to higher fuel costs and wage inflation,"" Chief Executive Deepinder Goyal said in a statement, adding that monthly transacting customers were likely to drive volume growth.The domestic food delivery market is expected to grow three times over the next five years, helped by rising order frequency and user addition, with Zomato expected to maintain a market share in the range of 45-50%, analysts at Credit Suisse said in a note last month.($1 = 79.0700 Indian rupees)Register now for FREE unlimited access to Reuters.comReporting by Rama Venkat and Nallur Sethuraman in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.",India's Zomato quarterly loss nearly halves as orders surge.
"Attendees wait for transportation outside the Tom Ford AW20 Show at Milk Studios in Los Angeles, California, U.S. February 7, 2020. REUTERS/Kyle GrillotRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Cosmetics maker Estee Lauder Cos Inc (EL.N) is in talks to acquire luxury brand Tom Ford in what could be a $3 billion deal, the Wall Street Journal reported on Monday, citing people familiar with the matter.The potential deal would be the Clinique brand owner's biggest acquisition ever, the report said, adding Estee is not the only suitor for Tom Ford. (https://on.wsj.com/3bt1zVQ)Estee Lauder declined to comment, while Tom Ford did not immediately respond to a Reuters request for comment.Register now for FREE unlimited access to Reuters.comThe move could help Estee beef up its luxury offerings at a time when demand for high-end apparel and accessories remains resilient, as luxury consumers continue to splurge on goods despite record inflation in the United States.Founded by fashion designer Tom Ford in 2005, the luxury brand is known for its menswear, but also counts women's apparel, handbags, cosmetics and perfumes as part of its product line.Estee is especially interested in Tom Ford's beauty business and could potentially look to license the brand's apparel offerings elsewhere, the report said.Also known for brands like La Mer and M.A.C., Estee Lauder, whose shares have lost more than 26% in value this year, has a market cap of $97.59 billion, according to Refinitiv data.Register now for FREE unlimited access to Reuters.comReporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.",Estee Lauder in talks to acquire Tom Ford brand - WSJ.
"House Select Committee investigating the Jan. 6 attack led by Chairman Rep. Bennie Thompson, D-Miss., swears in the witnesses during during the seventh public hearing by the House Select Committee to investigate the January 6th attack on the US Capitol, in Washington, DC, U.S., July 12, 2022. Doug Mills/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - An associate of the far-right Three Percenters militia could be sentenced to more than a decade in prison on Monday for joining the riot at the U.S. Capitol on Jan. 6, 2021, while armed and threatening to harm his own children if they ratted him out to the FBI.Guy Reffitt, of Wylie, Texas, was convicted by a jury in March of five felony charges, including bringing a gun onto the Capitol grounds and obstructing an official proceeding.Federal guidelines recommend a prison sentence of 7.25 years to 9 years for those crimes, U.S. District Judge Dabney Friedrich said on Monday.Register now for FREE unlimited access to Reuters.comReffitt, who was 49 at the time of his conviction, never entered the Capitol, but video evidence showed him egging on the crowd and leading other rioters up a set of stairs outside the building.He appeared in the U.S. District Court for the District of Columbia on Monday, clad in an orange jump suit.His emotionally charged trial included testimony from his estranged son Jackson, who brought his father to tears as he told the jury about how his father threatened him if he dared to call the FBI.""He said, 'If you turn me in, you're a traitor,'"" Jackson Reffitt told jurors. ""'And traitors get shot.'""Reffitt was the first Capitol rioter to go to trial in the U.S. District Court for the District of Columbia.To date, federal prosecutors have prevailed and won convictions in all but one of 13 trials tied to the Capitol attack.Federal prosecutors asked Friedrich to sentence Reffitt to 15 years, more than the U.S. sentencing guidelines recommend, including for the first time seeking a terrorism enhancement for a Jan. 6 defendant.""The defendant was trying to overtake Congress. He wanted to sit in Congress' chair,"" federal prosecutor Jeffrey Nestler said.Former U.S. Capitol Police Officer Shauni Kerkhoff read from a statement in court, saying that Reffitt ""led this group up the stairs towards members of Congress. ... He intended to harm members of Congress.""She said she ""watched in horror as he encouraged the angry mob to push past.""""These are acts of domestic terrorism,"" Kerkhoff said. ""I recommend the defendant receive the maximum sentence.""Friedrich said she agrees that Reffitt ""should be sentenced more severely"" than other similarly situated defendants, but she turned down a number of the government's requests to enhance the sentence, including the terrorism enhancement.Reading aloud from other Jan. 6 cases, including some involving the assault of police, she said that ""in none of those cases did the government seek any of these departures"" and added she does not want to create an ""unwarranted sentencing disparity.""Reffitt's attorney has sought to portray him as man who felt marginalized and down on his luck after losing his job in 2019.Depressed and suicidal, his attorney said he turned to political news on social media and became a fervent believer in former President Donald Trump.In a letter to the court, Jackson Reffitt said he believed his father had ""lost himself.""He said, ""I hope to see my father use all the safety nets"" available at prison, including mental health care.His daughter Peyton told the court in a letter that she could see how her father's ego and personality ""fell to his knees when President Trump spoke.""""You could tell he listened to Trump's words as if he was really truly speaking to him ... Constantly feeding polarizing racial thought,"" Peyton wrote.His attorney F. Clinton Broden said that while his client broke the law, his actions were not as egregious as those of others who entered the Capitol and assaulted police.He noted that Reffitt will get credit for the 19 months he has already spent behind bars since his arrest, and has asked the judge to impose a sentence of no more than two years.Register now for FREE unlimited access to Reuters.comReporting by Sarah N. Lynch; Editing by Scott Malone, Bernadette Baum and Mark PorterOur Standards: The Thomson Reuters Trust Principles.",Texas far-right militia member faces sentencing over Jan.6 Capitol riot.
"Speaker of the US House of Representatives Nancy Pelosi (2nd L) leaves the Shangri-La Hotel after a reception organised by the American Chamber of Commerce in Singapore on August 1, 2022.Roslan Rahman | AFP | Getty ImagesU.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday, two people briefed on the matter said, as China warned that its military would never ""sit idly by"" if she visited the self-ruled island claimed by Beijing.Pelosi, who began an Asia trip earlier on Monday in Singapore, was due to spend Tuesday night in Taiwan, the people said.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans.Amid widespread speculation over whether she would make a stop in Taiwan, Pelosi's office said on Sunday that she was leading a congressional delegation to the region that would include visits to Singapore, Malaysia, South Korea and Japan. It did not mention Taiwan.One source told Reuters that the United States had informed some allies about Pelosi's visit to Taiwan. Another source said Pelosi was scheduled to meet some activists who are outspoken on China rights issues during her stay in Taiwan.Chinese foreign ministry spokesman Zhao Lijian said earlier on Monday that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.""China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp on the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing. Republican Newt Gingrich was the last House speaker to visit Taiwan, in 1997.A video by the People's Liberation Army's Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to ""stand by in battle formation, be ready to fight upon command, bury all incoming enemies.""The White House dismissed China's rhetoric as groundless and inappropriate. ""It is not uncommon for congressional leaders to travel to Taiwan,"" National Security Council spokesman John Kirby said in an interview with CNN early Monday.""We shouldn't be, as a country, we shouldn't be intimidated by that rhetoric, or those potential actions. This is an important trip for the Speaker to be on and we're going to do whatever we can to support her.""Biden-Xi callDuring a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait.On Monday, Taiwan Premier Su Tseng-chang did not directly respond when asked whether Pelosi will visit on Thursday, as local media had speculated.""We always warmly welcome visits to our country by distinguished foreign guests,"" he told reporters in Taipei.Shi Yinhong, an international relations professor at Renmin University in Beijing, said that if Pelosi visits Taiwan it would prompt the strongest counter-measures by Beijing in years, but he did not expect that to trigger major military conflict.""China has reiterated in no ambiguous terms its opposition to Taiwan separatism. The U.S. has reiterated many times its one-China policy has not changed and that it is against any change to the status quo by either side of the Taiwan Strait,"" he said.""Unless by accident, I am sure neither side would intentionally take military action that could lead to a major security risk.""Singapore visitOn Monday, Pelosi and her delegation met with Singapore Prime Minister Lee Hsien Loong, discussing issues including cross-strait relations, the Ukraine war and climate change, Singapore's foreign ministry said.""PM Lee highlighted the importance of stable US-China relations for regional peace and security,"" it said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now.""On Monday CNN, citing a Taiwanese official and a U.S. official, both unidentified, said Pelosi was expected to land in Taiwan in the coming days and stay overnight.","Pelosi to visit Taiwan, local media say, despite China warnings."
"Russian President Vladimir Putin chairs a meeting on the development of the country's metallurgical sector, via a video link at the Kremlin in Moscow, Russia August 1, 2022. Sputnik/Pavel Byrkin/Kremlin via REUTERS Register now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Russian President Vladimir Putin said on Monday there could be no winners in a nuclear war and no such war should ever be started.The Kremlin leader made the comment in a letter to participants of a conference on the nuclear non-proliferation treaty (NPT), more than five months into his war on Ukraine.""We proceed from the fact that there can be no winners in a nuclear war and it should never be unleashed, and we stand for equal and indivisible security for all members of the world community,"" he said.Register now for FREE unlimited access to Reuters.comHis words to the NPT forum appeared aimed at striking a reassuring note and portraying Russia as a responsible nuclear power.They contrasted with earlier statements by Putin and other Russian politicians that have been interpreted in the West as implicit nuclear threats.In a speech on Feb. 24, as he launched the Russian invasion of Ukraine, Putin pointedly referred to Russia's nuclear arsenal and warned outside powers that any attempt to interfere would ""lead you to such consequences that you have never encountered in your history"".Days later, he ordered Russia's nuclear forces to be put on high alert.The war has raised geopolitical tensions to levels not seen since the 1962 Cuban Missile Crisis, with politicians in both Russia and the United States speaking publicly of the risk of World War Three.CIA director William Burns said in April that given the setbacks Russia had suffered in Ukraine, ""none of us can take lightly the threat posed by a potential resort to tactical nuclear weapons or low-yield nuclear weapons.""Russia, whose military doctrine allows for the use of nuclear weapons in the event of an existential threat to the Russian state, has accused the West of waging a ""proxy war"" against it by arming Ukraine and imposing sanctions on Moscow.Earlier on Monday, a Russian foreign ministry source questioned the seriousness of comments by U.S. President Joe Biden calling for talks on a nuclear arms control framework to replace a treaty expiring in 2026. read more In April, Russia conducted a first test launch of its new Sarmat intercontinental ballistic missile, capable of mounting nuclear strikes against the United States, and said it planned to deploy the weapons by autumn.Register now for FREE unlimited access to Reuters.comReporting by Mark Trevelyan; editing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.",Putin says no one can win a nuclear war.
"Displays outside the Nasdaq MarketSite are pictured as dating app operator Bumble Inc. (BMBL) made its debut on the Nasdaq stock exchange during the company's IPO in New York City, New York, U.S., February 11, 2021.Mike Segar | ReutersCheck out the companies making headlines in midday trading Monday.Boeing — Shares of the plane maker rallied more than 7% after CNBC reported the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Separately, Boeing defense workers will vote on a new proposed labor agreement on Wednesday, aiming to avert a strike.Target — The retail stock rose more than 2% after Wells Fargo upgraded Target to overweight from equal weight. The firm said investors are too down on the stock, which it considers a ""proven share gainer.""PerkinElmer — Shares of PerkinElmer jumped more than 6% after the diagnostics and life sciences company reported better-than-expected sales and profit for the second quarter. It also announced plans to divest some of its non-core units to the private equity firm New Mountain Capital for $2.45 billion in cash.Advanced Micro Devices — Several semiconductor stocks surged, with Advanced Micro Devices gaining 2.5%. Shares of Micron Technology, Nvidia and Intel all climbed about 2%.Global Payments — Shares of the financial technology company rose 7.5% after a better-than-expected quarterly report. Global Payments reported $2.36 in adjusted earnings per share on $2.28 billion of revenue. Analysts surveyed by Refinitiv had penciled in $2.34 in earnings per share on $2.07 billion of revenue. Global Payments also announced a deal to buy EVO Payments for $34 per share.Colgate-Palmolive — The consumer products company gained more than 2% following a Wells Fargo upgrade to equal weight from underweight. The firm said Colgate-Palmolive's bottom line could show signs of improvement going forward. Nio — Shares advanced more than 2% after the Chinese electric vehicle company and its rival Li Auto all reported an increase in July car deliveries. Li Auto surged 3%.Check Point Software Technologies — Shares fell 4% after the cybersecurity firm reported disappointing billings revenue. Billings came in at $570.6 million, below a StreetAccount estimate of $578.3 million. That overshadowed better-than-expected earnings and revenue for the previous quarter.Bumble — The dating app company's stock slipped 5.1% on the back of a downgrade from Jefferies to a hold, citing a decline in paying subscribers going forward.Jacobs Engineering Group — Shares declined 5.5% after the international technical professional services firm reported calendar second quarter earnings. Jacobs lowered guidance for fiscal year 2022, citing foreign currency translation adjustments, despite otherwise surpassing expectations in its report.— CNBC's Yun Li, Tanaya Macheel, Jesse Pound and Samantha Subin contributed reporting","Stocks making the biggest moves midday: PerkinElmer, Boeing, Global Payments, Bumble and more."
"Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON/LONDON, Aug 1 (Reuters) - Factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China's strict COVID-19 restrictions slowed production, surveys showed on Monday, likely adding to fears of economies sliding into recession.A series of purchasing managers' indexes (PMIs) for July showed new orders falling in the manufacturing powerhouses although they did show price pressures may be waning.The Institute for Supply Management (ISM) said on Monday that its index of U.S. factory activity dipped to 52.8 last month, the lowest reading since June 2020, when the sector was pulling out of a COVID-19 induced slump. The ISM PMI index was at 53.0 in June. A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. read more Register now for FREE unlimited access to Reuters.comHowever, the ISM survey's forward-looking new orders sub-index dropped to 48.0 last month from a reading of 49.2 in June, a second straight monthly contraction. Combined with a steady reduction in order backlogs, that suggests a further slowdown in U.S. manufacturing in the months ahead.The Federal Reserve has been lifting interest rates aggressively but the world's largest economy unexpectedly contracted last quarter, raising the risk it was on the cusp of a recession. read more In the euro zone, S&P Global's final manufacturing Purchasing Managers' Index (PMI) fell to 49.8 in July from June's 52.1, its first time below the 50 mark separating growth from contraction since June 2020.A July Reuters poll gave a 45% chance of a recession in the euro zone within a year.An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good gauge of economic health, sank to a more than two-year low of 46.3.S&P Global said production was falling in all euro zone countries surveyed other than the Netherlands and the rate of decline was of particular worry in Germany, France and Italy - the bloc's three biggest economies.Meanwhile, retailers in Germany ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades as the cost of living crisis, the Ukraine war and lingering effects from the coronavirus pandemic took their toll. read more ""I expect GDP in the euro zone to contract in the third quarter but not as much as these retail sales or PMI data suggest,"" said Holger Schmieding at Berenberg.""It's going to be rough, but it's going to be rough from a stronger starting point.""The bloc's economy grew faster than expected last quarter, an early reading showed on Friday. read more A surge in global commodity prices amid supply chain disruptions caused by the pandemic and the Ukraine war has challenged businesses and policymakers worldwide, with central banks rushing to tighten monetary policy and firms cutting costs.Last month, the European Central Bank raised interest rates by more than expected as concerns about runaway inflation trumped worries about growth. read more The Bank of England is likely to raise borrowing costs by 50 basis points this week despite the country's PMI showing manufacturing output and new orders declined in July at the fastest rate since May 2020.ASIAN STRAINSouth Korea's factory activity fell for the first time in almost two years while Japan saw its slowest growth in activity in 10 months amid persistent supply chain disruptions. read more Activity growth in China also slowed, the private sector Caixin PMI showed on Monday, despite some easing of the strict domestic COVID-19 curbs that slammed the world's second-largest economy in the second quarter. read more Monday's Caixin PMI followed an even bleaker reading from the government's official PMI released on Sunday, that showed activity unexpectedly falling in July amid fresh COVID-19 outbreaks. read more ""The country was already facing an uphill challenge, to put it mildly, with regards to its growth target this year and the fact that manufacturing activity is slowing again doesn't bode well,"" said Craig Erlam at OANDA.""One positive from the surveys was the improvement in supply chain conditions which should aid the inflation fight around the world.""There was some positive news for the region, however, with PMIs indicating input price growth has moderated in China, Taiwan, India and South Korea.Conditions in parts of Southeast Asia were also upbeat, with PMIs pointing to accelerating activity in Indonesia, Malaysia and Thailand where new orders growth bucked declines seen elsewhere in the region.India's factory activity expanded at its quickest pace in eight months in July, also helped by solid growth in new orders and output and a sign the South Asian economy remains resilient. read more South Korea's exports grew at a faster annual pace in July as robust demand from the U.S. offset weak sales to China, separate trade data showed on Monday. read more Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaus; Writing by Jonathan Cable, Sam Holmes and Lindsay Dunsmuir; Editing by Shri Navaratnam, Kim Coghill, Toby Chopra and Jane MerrimanOur Standards: The Thomson Reuters Trust Principles.","GLOBAL ECONOMY Factories squeezed by higher prices, weak demand."
"World August 1, 2022 / 8:02 AM / CBS/AP Times piece questions the sincerity of Hitler's anti-Semitism New York Times digs up 1922 profile of Hitler 00:57 A Maryland auction house has sold a wristwatch that once belonged to Adolf Hitler for $1.1 million. Alexander Historical Auctions in Chesapeake City had estimated the value between $2 and $4 million, describing the watch as a ""World War II relic of historic proportions.""Jewish leaders and others objected to the sale this week, saying it had little to no historical value. An open letter signed by 34 Jewish leaders described the sale as ""abhorrent"" and called on the Nazi items to be pulled from the auction.The auction house's president, Bill Panagopulos, defended the auction and said the buyer is a European Jew. The watch features the initials AH and a swastika. The auction house said a French soldier who was in the first unit to close in on Hitler in May 1945 at his Berchtesgaden retreat seized it as spoils of war.Rabbi Menachem Margolin, chairman of the European Jewish Association, wrote in the open letter that the transaction gave ""succour to those who idealise what the Nazi party stood for."" ""Whilst it is obvious that the lessons of history need to be learned - and legitimate Nazi artefacts do belong in museums or places of higher learning - the items that you are selling clearly do not,"" he wrote. In: Adolf Hitler",Adolf Hitler's watch sells for $1.1 million in controversial auction.
"A woman prepares to cast her ballot during the parliamentary election at a polling station in Pikine, on the outskirts of Dakar, Senegal, July 31, 2022. REUTERS/Zohra BensemraRegister now for FREE unlimited access to Reuters.comSummaryRuling party says it won 30 of 46 departmentsOpposition disputes count of ruling coalitionSenegal's opposition seeks to control parliamentHopes to block President Sall's third term ambitionDAKAR, Aug 1 (Reuters) - Senegalese President Macky Sall's ruling party and the opposition both claimed victory after legislative elections on Sunday, while awaiting the release of official results.Former prime minister Aminata Toure, who led the ruling coalition's list in the legislative election announced partial results on national television early on Monday, saying the party had won 30 out of Senegal's 46 administrative departments.""This gives us an unquestionable majority,"" Toure said from party headquarters to the cheers of supporters. She did not say how many of the 165 parliamentary seats the party won.Register now for FREE unlimited access to Reuters.comAn opposition coalition known as Wallu Senegal said in a statement later on Monday that along with an allied coalition, Yewwi Askane Wi, it had defeated the ruling party in most departments.""The provisional results from the legislative elections show that President Macky Sall lost the elections ... and that he will not have a majority in the National Assembly,"" it said.The political backdrop in the country of 17.5 million, considered among West Africa's most stable democracies, has become increasingly acrimonious, fuelled in part by Sall's refusal to rule out breaching term limits by running for a third term. read more Violent protests erupted last year after Sall's main opponent, Ousmane Sonko, was arrested on rape charges which he denies and says were politically motivated.Violent protests broke out again last month after the Yewwi Askane Wi coalition's primary list of parliamentary candidates, which included Sonko, was disqualified on technical grounds. read more Under Senegal's hybrid electoral system 97 candidates who win a majority of votes in administrative departments are elected, while 53 from national lists are elected using proportional representation, and 15 are elected by Senegalese living outside the country.Barthelemy Dias, mayor of the capital Dakar and an opposition leader, immediately disputed the results announced by Toure, warning that it was not her place to announce results.""The people will respond, and the people will come out into the streets tomorrow, and you will tell us where you got your majority,"" Dias said.THIRD TERM AMBITION?Sall's ruling Benno Bokk Yakaar coalition is trying to conserve its majority of more than three-quarters of the parliament's 165 seats.""I'm confident that like in the past, voters will decide in all transparency,"" Sall said after voting.Sall, 60, swept to power in 2012 after removing Abdoulaye Wade, the president from 2000. Sall was elected again in 2019. He has campaigned on big-ticket construction projects such as a high-speed train line and a conference centre, as well as oil and gas production.His opponents have seized on growing frustrations with economic hardship caused by the coronavirus pandemic and rising fuel and food prices.Sall's refusal to publicly rule out a candidacy in 2024 has stoked fears he will follow in the footsteps of Ivory Coast President Alassane Ouattara and former Guinea President Alpha Conde. Both men stood for - and won - third terms in 2020 by arguing that new constitutions had reset their two-term limits.Senegal adopted constitutional revisions, which among other things reduced presidential terms from seven to five years, in 2016. Sall has declined to comment on his intentions for 2024.Register now for FREE unlimited access to Reuters.comWriting by Aaron Ross, Bate Felix and Nellie Peyton;
Editing by Andrew Cawthorne, Simon Cameron-Moore and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Senegal's ruling party, opposition both claim victory after legislative vote."
"A representations of cryptocurrencies in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The Securities and Exchange Commission said on Monday it charged 11 people for their roles in creating and promoting a fraudulent crypto pyramid and Ponzi scheme that raised over $300 million from retail investors worldwide, including in the United States.Those charged included the four founders of the scheme named Forsage. They were last known to be living in Russia, the Republic of Georgia, and Indonesia, the SEC said in a statement.The charged individuals could not immediately be reached for comment.Register now for FREE unlimited access to Reuters.comAccording to the SEC's complaint, the scheme's website was launched in January 2020 and allowed millions of retail investors to enter into transactions via smart contracts. It allegedly operated as a pyramid scheme for more than two years, in which investors earned profits by recruiting others into the scheme, the SEC said.Forsage also allegedly used assets from new investors to pay earlier investors in a typical Ponzi structure, the SEC complaint added.""Forsage is a fraudulent pyramid scheme launched on a massive scale and aggressively marketed to investors,"" said Carolyn Welshhans, acting chief of the SEC's Crypto Assets and Cyber unit. ""Fraudsters cannot circumvent the federal securities laws by focusing their schemes on smart contracts and blockchains.""Without admitting or denying the allegations, two of the defendants agreed to settle the charges and one of them agreed to pay penalties, the SEC said.Register now for FREE unlimited access to Reuters.comReporting by Kanishka Singh in Washington;
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",U.S. SEC charges 11 individuals in $300 million crypto pyramid scheme.
"Model of petrol pump is seen in front of U.S. and Iran flag colors in this illustration taken March 25, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States on Monday imposed sanctions on Chinese and other companies it said were used by one of Iran's largest petrochemical brokers to sell tens of millions of dollars' worth of Iranian products to East Asia, as Washington continues to crack down on Iranian oil sales to the region.The U.S. Treasury Department in a statement accused the designated companies of being used by Iran’s Persian Gulf Petrochemical Industry Commercial Co. to facilitate the sale of Iranian petroleum and petrochemical products from Iran to East Asia.The United States imposed sanctions four companies from Hong Kong, one from the United Arab Emirates, and one from Singapore on Monday, according to the Treasury website, the latest salvo in its stepped-up effort to enforce U.S. sanctions designed to slash Iran's revenues from oil and petrochemicals.Register now for FREE unlimited access to Reuters.comThe action freezes any U.S.-based assets and generally bars Americans from dealing with them. Those that engage in certain transactions with the firms also risk being hit by sanctions.Since taking office in January 2021, U.S. President Joe Biden has been loathe to sanction Chinese entities engaged in the oil and petrochemical trade with Iran due to hopes of securing an agreement to revive the 2015 Iran nuclear deal.Efforts to resurrect the deal - under which Iran had curbed its nuclear program in exchange for relief from U.S. and other sanctions - have so far failed, leading the U.S. administration to look for other ways to increase pressure on Iran.""The United States continues to pursue the path of diplomacy to achieve a mutual return to full implementation of the Joint Comprehensive Plan of Action,"" the Treasury's Under Secretary of for Terrorism and Financial Intelligence, Brian Nelson, said in the statement, referring to the 2015 deal by its formal name.""Until such time as Iran is ready to return to full implementation of its commitments, we will continue to enforce sanctions on the illicit sale of Iranian petroleum and petrochemicals.""Register now for FREE unlimited access to Reuters.comReporting by Daphne Psaledakis, Arshad Mohammed and Kanishka Singh in Washington; Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.","U.S. issues fresh Iran sanctions, targets Chinese, UAE firms."
"Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 27, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comSummaryCompaniesU.S. manufacturing sector slows modestlyPerkinElmer rises on $2.45 billion divestmentIndexes: Dow off 0.12%, S&P down 0.14%, Nasdaq up 0.28%Aug 1 (Reuters) - The Dow and the S&P 500 fell in volatile trading on Monday as a strong earnings-driven rally from last week lost steam, with losses in economy-sensitive sectors being countered by gains in shares of Boeing and Tesla.The S&P 500 and the Nasdaq posted their biggest monthly percentage gains since 2020 in July on stronger-than-expected second-quarter results and on hopes the Federal Reserve need not to be as aggressive with interest rate hikes as some had feared.""The market was a little bit on edge, it's just trying to find its way right now. A lot of people are trying to understand have we seen the bottom and are we going to move higher from here,"" said Robert Pavlik, senior portfolio manager at Dakota Wealth Management.Register now for FREE unlimited access to Reuters.comOffering support to the Dow and S&P 500, Boeing Co (BA.N) gained 5.4% after a Reuters report the U.S. aviation regulator approved the planemaker's inspection and modification plan to resume deliveries of 787 Dreamliners. read more Meanwhile, data showed U.S. manufacturing activity slowed-less-than-expected in July and there were signs that supply constraints are easing. read more .The report came on the heels of surveys which showed factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 curbs slowed production. read more That dragged oil prices lower on demand concerns, which in turn weighed on the S&P 500 energy sector (.SPNY). The index fell 2.8% and was the top loser among the 11 sectors.The factory activity data will be followed by the monthly U.S. jobs report on Friday, which will be parsed for cues for the Fed's next moves.The U.S. central bank has raised interest rates by 2.25 percentage points so far this year and has vowed to be data-driven in its approach toward future hikes.Worries about a recession have weighed on stock markets this year, with the benchmark index (.SPX) down 13.4% as investors adjust their expectations on economic growth and corporate profits in the face of tightening financial conditions.However, the earnings season has showed companies were far more resilient in the second quarter than estimated.Of the 283 S&P 500 companies that have reported results, 78.1% have topped profit estimates, as per Refinitiv data. The long-term average is 66.1%.Activision Blizzard (ATVI.O), Devon Energy (DVN.N) and Simon Property Group (SPG.N) are scheduled to report quarterly results later in the day.At 10:40 a.m. ET, the Dow Jones Industrial Average (.DJI) was down 39.30 points, or 0.12%, at 32,805.83, the S&P 500 (.SPX) was down 5.72 points, or 0.14%, at 4,124.57.The Nasdaq Composite (.IXIC) was up 34.19 points, or 0.28%, at 12,424.88, boosted by 2.7% rise in shares of Tesla Inc (TSLA.O)PerkinElmer Inc (PKI.N) jumped 9% after the medical diagnostic firm said it will sell some of its businesses along with the brand name to private equity firm New Mountain Capital for up to $2.45 billion in cash. read more Declining issues outnumbered advancers for a 1.50-to-1 ratio on the NYSE and for a 1.47-to-1 ratio on the Nasdaq.The S&P index recorded two new 52-week highs and 31 new lows, while the Nasdaq recorded 31 new highs and 70 new lows.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh, Devik Jain and Bansari Mayur Kamdar in BengaluruOur Standards: The Thomson Reuters Trust Principles.","Dow, S&P 500 edge lower in choppy trading; Tesla lifts Nasdaq."
"SummaryFirst Ukraine grain ship bound for LebanonU.N. expresses hope it will be the first of manyFrance says Russian strikes undermining agreementRussia welcomes ship's departure, blames Ukraine for risksKYIV, Aug 1 (Reuters) - The first ship to carry Ukrainian grain through the Black Sea since Russia invaded Ukraine five months ago left the port of Odesa for Lebanon on Monday under a safe passage deal described as a glimmer of hope in a worsening global food crisis.The sailing was made possible after Turkey and the United Nations brokered a grain-and-fertiliser export agreement between Russia and Ukraine last month - a rare diplomatic breakthrough in a conflict that has become a drawn-out war of attrition.The Sierra Leone-flagged ship Razoni will head to the port of Tripoli, Lebanon, after transiting the Bosphorus Strait linking the Black Sea, which is dominated by Russia's navy, to the Mediterranean. It is carrying 26,527 tonnes of corn.Register now for FREE unlimited access to Reuters.comRussia's invasion of Ukraine on Feb. 24 has led to a worldwide food and energy crisis and the United Nations has warned of the risk of multiple famines this year.U.N. Secretary-General Antonio Guterres said he hoped Tuesday's departure would be the first of many such cargos and that the U.N. would charter a ship to replenish supplies of aid.""People on the verge of famine need these agreements to work, in order to survive,"" Guterres told reporters in New York. ""Countries on the verge of bankruptcy need these agreements to work, in order to keep their economies alive.""Ukrainian Foreign Minister Dmytro Kuleba called it a ""day of relief for the world, especially for our friends in the Middle East, Asia, and Africa.""Ukraine and Russia are leading world grain suppliers and between them account for nearly a third of global wheat exports. The deal aims to allow safe passage for grain shipments in and out of Odesa and nearby Chornomorsk and Pivdennyi.Moscow has denied responsibility for the food crisis, blaming Western sanctions for slowing its exports and Ukraine for mining the approaches to its ports. The Kremlin called the Razoni's departure ""very positive"" news.Turkish Defence Minister Hulusi Akar said the vessel would anchor off Istanbul on Tuesday afternoon and be inspected by a joint team of Russian, Ukrainian, United Nations and Turkish representatives.""It will then continue as long as no problems arise,"" Akar said.Prior to the Razon's departure, Ukrainian presidential officials had said 17 ships were docked in Black Sea ports with almost 600,000 tonnes of cargo, mostly grain. Countries expressed hope that more would now be able to leave.""This is a glimmer of hope in a worsening food crisis,"" a German foreign ministry spokesperson told a government briefing.France welcomed the shipment while condemning what it called ""indiscriminate"" Russian strikes against Ukraine, including on Odesa's port, which it said were undermining the agreement.RELIEFA junior engineer on the vessel, Abdullah Jendi, said the crew were happy to be moving after their prolonged stay in Odesa and that he, a Syrian, had not seen his family in more than a year. read more The Sierra Leone-flagged cargo ship, Razoni carrying Ukrainian grain leaves the port, in Odesa, Ukraine, August 1, 2022, in this screen grab taken from a handout video. Oleksandr Kubrakov/ Ukraine Ministry of Infrastructure/Handout via REUTERS ""It is an indescribable feeling to be returning to my home country after suffering from the siege and the dangers that we were facing due to the shelling,"" he said.He said he was scared the ship might hit a mine in the hours it would take to leave regional waters and that, in his view, no one would win the conflict, which shows no sign of resolution.""Even the victor of war will have lost because of the human and material losses,"" he said. ""In my opinion, the people of Ukraine don't deserve this because they are good and peaceful people.""The U.S. Embassy in Kyiv also welcomed the shipping resumption and said the world would be watching out for more.Chicago wheat and corn prices fell on Monday amid hopes that Ukraine’s cereals exports could resume on a large scale.BOMBARDMENTS IN SOUTH AND EASTDespite the breakthrough on the grain shipments, the war continued elsewhere.Three civilians were killed by Russian shelling in the eastern Donetsk region - two in Bakhmut and one in nearby Soledar - in the last 24 hours, regional governor Pavlo Kyrylenko said.An industrial city and transport hub, Bakhmut has been under Russian bombardment for the past week as the Kremlin's forces try to occupy all of Donetsk after seizing most of the neighbouring region, Luhansk, last month.Russian strikes also hit Kharkiv - Ukraine's second biggest city and near the border with Russia - on Monday, regional governor Oleh Synegubov said. Two civilians were wounded, he said.After failing to quickly capture the capital Kyiv early in the war, Russia has been aiming to capture the eastern Donbas region, made up of Donetsk and Luhansk, and more of the south, where it annexed Crimea from Ukraine in 2014.Ukrainian President Volodymyr Zelenskiy said Russia has been transferring some forces from the Donbas, part of which was controlled by Russian-backed separatists before the invasion, to the southern Kherson and Zaporizhizhya regions.Ukraine, which has launched a counter-offensive in the south, has pleaded with the West to supply more long-range artillery as it tries to turn the tide in the conflict.Ukraine's defence minister said Kyiv had received four more U.S.-made HIMARS rocket systems from the United States. A third multiple rocket launcher system - the MARS II MLRS - had also arrived from Germany.Moscow says Western arms supplies to Ukraine only drag out the conflict and the supply of longer-range weapons justifies Russia's attempts to expand control over more Ukrainian territory for its own protection.Russia invaded Ukraine in what it called a ""special operation"" to demilitarise its neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for war.Register now for FREE unlimited access to Reuters.comReporting by George Sargent, Anna Lubowicka, Bushra Shakhshir, Matthias Williams, Michelle Nichols and Reuters bureaux; Writing by Michael Perry, Angus MacSwan and Philippa Fletcher; Editing by Nick Macfie and Frank Jack DanielOur Standards: The Thomson Reuters Trust Principles.",'Glimmer of hope' as Ukraine grain ship leaves Odesa.
"Test tubes labelled ""Monkeypox virus positive"" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAugust 1 - Aug 1 (Reuters) - Around 70 countries where monkeypox is not endemic have reported outbreaks of the viral disease as confirmed cases crossed 22,100 and the World Health Organization declared the outbreak a global health emergency. (Full Story)Below is a list of non-endemic countries that have reported monkeypox cases:ASIA-PACIFIC* AUSTRALIA had confirmed 44 cases as of July 25.Register now for FREE unlimited access to Reuters.com* INDIA had confirmed four cases as of July 24. It reported first death on Aug. 1. (Full Story)* JAPAN had reported two cases as of July 29.* NEW ZEALAND reported its second case on July 12.* The PHILIPPINES reported its first case on July 29. (Full Story)* SINGAPORE had confirmed 11 cases as of July 29.* SOUTH KOREA reported two cases on June 22. (Full Story)* TAIWAN confirmed its first case on June 24. (Full Story)* THAILAND had confirmed two cases as of July 29. (Full Story)EUROPE* ANDORRA had confirmed three cases as of July 27.* AUSTRIA had confirmed 118 cases as of July 29.* BELGIUM had detected 393 cases by July 25.* BOSNIA reported its first case on July 13. (Full Story)* BULGARIA had confirmed four cases as of July 22.* CROATIA had reported 11 cases by July 29.* CZECH REPUBLIC had confirmed 19 cases as of July 29.* DENMARK had confirmed 99 cases by July 29.* ESTONIA had confirmed five cases by July 29.* FINLAND had confirmed 17 cases as of July 27.* FRANCE had confirmed 1,955 cases by July 28.* GEORGIA confirmed its first case on June 15.* GERMANY had reported 2,677 cases by Aug. 1.* GIBRALTAR had confirmed five cases as of July 20.* GREECE had confirmed 32 cases by July 29.* HUNGARY had confirmed 37 cases by July 27.* ICELAND had reported nine cases as of July 25.* IRELAND had confirmed 85 cases as of July 27.* ITALY had detected 479 cases as of July 29.* LATVIA had confirmed three cases as of July 25.* LUXEMBOURG had confirmed 23 cases as of July 29.* MALTA had confirmed 17 cases as of July 20.* The NETHERLANDS had confirmed 878 cases as of July 28.* NORWAY had reported 53 cases by Aug. 1.* POLAND had reported 53 cases by July 27.* PORTUGAL had confirmed 633 cases as of July 28.* ROMANIA had confirmed 21 cases as of July 29.* RUSSIA confirmed its first case on July 12. (Full Story)* SERBIA had reported 10 cases as of July 27.* SLOVENIA had reported 33 cases as of July 27.* SLOVAKIA had confirmed three cases as of July 27.* SPAIN had confirmed 4,298 cases by July 29. It reported its second death on July 30. (Full Story)* SWEDEN had confirmed 85 cases by July 28.* SWITZERLAND had confirmed 272 cases as of July 29.* The UNITED KINGDOM had 2,469 confirmed cases as of July 28, including 2,359 in England, 61 in Scotland, 19 in Northern Ireland and 30 in Wales.MIDDLE EAST &amp; AFRICA* ISRAEL had reported 146 cases as of July 31.* LEBANON had reported four cases as of July 21.* MOROCCO reported first case on June 2. (Full Story)* SAUDI ARABIA detected its first case on July 14. (Full Story)* SOUTH AFRICA confirmed its third case on July 11. (Full Story)* QATAR confirmed its first case on July 20.* TURKEY reported first case on June 30. (Full Story)* The UNITED ARAB EMIRATES had reported 16 infections as of July 24.AMERICAS* ARGENTINA had confirmed 20 cases as of July 26.* The BAHAMAS confirmed its first case on June 24.* BARBADOS confirmed its first case on July 21.* BERMUDA confirmed its first case on July 21.* BRAZIL had confirmed 1,369 cases and one death as of July 31. (Full Story)* CANADA had confirmed 803 infections as of July 29.* CHILE had reported 55 cases as of July 29.* COLOMBIA had reported 12 cases as of July 26.* COSTA RICA confirmed three cases on July 28.* DOMINICAN REPUBLIC confirmed its third case on July 21.* ECUADOR had confirmed three cases as of July 23.* JAMAICA had confirmed two cases as of July 26.* MEXICO had confirmed 60 cases as of July 27.* PANAMA confirmed its first case on July 4. (Full Story)* PERU had confirmed 305 cases by July 31.* PUERTO RICO had confirmed 21 cases as of July 29.* The UNITED STATES had confirmed 5,189 cases by July 29.* VENEZUELA confirmed its first case on June 12. (Full Story)Sources: Data from World Health Organization and U.S. Centers for Disease Control and Prevention, Reuters stories, releases from local authorities(Compiled by Alizee Degorce, Andrey Sychev and Louise Rasmussen in Gdansk; Editing by Milla Nissi, Barbara Lewis, Jonathan Oatis and Ed Osmond)Register now for FREE unlimited access to Reuters.comOur Standards: The Thomson Reuters Trust Principles.",FACTBOX-Monkeypox cases around the world - Reuters News.
"Crime August 1, 2022 / 9:56 AM / CBS/AFP Mexico villages arm kids to fight cartels Armed kids shine light on Mexico's drug cartel violence 06:40 The leader of the guild of restaurants, bars and nightclubs in the Mexican resort town of Acapulco was shot dead on Sunday, the state prosecutor's office said.Jesus Rivera was killed in the early hours of the morning outside a nightclub he owned, after unknown assailants opened fire on him and then fled, state authorities in the southern region of Guerrero said.""The state prosecutor's office initiated an investigation against those responsible for the crime of aggravated homicide,"" said a statement from the agency. The attack occurred at the start of the summer vacation season, one of the busiest times of year for the town, with tourists flocking to the area's pristine beaches.Recent months have seen at least three attacks against nightclubs in Acapulco, local media reported. In April, at least three people were killed in a shooting and a subsequent chase by police officers at a beachside restaurant in Acapulco. Video posted on social media and YouTube showed people running down the beach as gunshots rang out. That shooting came just days after the severed heads of six men were reportedly discovered on top of a Volkswagen in the town of Chilapa de Alvarez, which is also in Guerrero state.Guerrero, on the Pacific coast, is among the most violent states in Mexico due to the presence of criminal gangs and drug trafficking.Mexico, hit by a spiral of violence linked to organized crime, has registered more than 340,000 violent deaths since December 2006, when a controversial military anti-drug operation was launched. In: Mexico Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Restaurant guild leader Jesus Rivera shot dead outside nightclub he owned in Acapulco, Mexico."
"The new Nikola Battery Electric 3 truck during a test drive. REUTERS/Massimo PincaRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Nikola Corp (NKLA.O) has agreed to buy battery supplier Romeo Power Inc (RMO.N) for about $144 million in stock, the electric truck maker said on Monday, in a move that will help jumpstart its efforts to make battery packs.The offer values Romeo Power at 74 cents on a per-share basis, or a 35% premium to the stock's Friday close. The company's shares were up 22% in trading before the bell.Romeo Power is one of the company's battery suppliers for its prototype electric trucks along with LG Energy Solution (373220.KS) and Proterra Inc (PTRA.O).Register now for FREE unlimited access to Reuters.comNikola will be able to accelerate the development of its electrification platform with the acquisition of Romeo Power, Chief Executive Officer Mark Russell said in a statement.The company said in June that it was evaluating the option of making its own battery packs in 2024 to boost volumes and reduce costs. read more Battery material costs have risen over the past few months, exacerbated by the Russian invasion of Ukraine forcing electric vehicle makers to raise prices.The truck maker said that it would provide Romeo Power with $35 million in interim funding to facilitate continued operations.Register now for FREE unlimited access to Reuters.comReporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.",Nikola to buy battery supplier Romeo Power for $144 million.
"A collection of personal jewelry of Elvis Presley & Colonel Tom Parker, that was lost for decades and will be sold at auction in August, at the Sunset Marquis Hotel, in Hollywood, California, U.S., July 28, 2022. The items were part of a lost collection and do not belong to Priscilla Presley. REUTERS/Aude GuerrucciRegister now for FREE unlimited access to Reuters.comWEST HOLLYWOOD, Calif., Aug 1 (Reuters) - A collection of jewelry that Elvis Presley gave to his manager Colonel Tom Parker is going up for auction on Aug. 27.Two hundred items, including gold rings encrusted with jewels, cufflinks, watches and chains, have been brought together by GWS Auctions. Also included is the guitar played by Presley during his famous ""comeback"" TV special of 1968.Presley’s former wife, Priscilla Presley, helped design some of the pieces.Register now for FREE unlimited access to Reuters.com""Well, it brings back memories for sure,"" Priscilla Presley told Reuters.She added that it was a running joke with her former husband that he constantly bought or commissioned jewelry for Parker because the manager already had everything he needed and the Presleys did not know what else to buy him.Priscilla Presley said she felt protective of the items because she designed some of them, including artifacts with the logo for TCB Band, the musicians who formed the core rhythm section of Presley's backing band in his later years. ""TCB"" stood for ""taking care of business,"" a favorite expression of Presley's.Priscilla Presley supported the auction in part because she was weary of seeing so many fake Elvis artifacts for sale.""There is so much product out there that is not authentic at all and that worries me,"" she said.""I want to know for sure that that is going to go to someone who is going to care for it, love it.""(This story corrects third paragraph to make clear Priscilla Presley helped design some jewelry but did not own the pieces)Register now for FREE unlimited access to Reuters.comReporting by Rollo Ross in West Hollywood, Calif.
Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.",Elvis Presley's jewelry on auction with Priscilla Presley's support.
"U.S. President Joe Biden delivers remarks at the White House in Washington, U.S., July 28, 2022. REUTERS/Elizabeth Frantz/File PhotoRegister now for FREE unlimited access to Reuters.comMOSCOW, Aug 1 (Reuters) - A Russian foreign ministry source expressed puzzlement on Monday about a proposal from U.S. President Joe Biden to negotiate a new nuclear arms control framework to replace the New START Treaty when it expires in 2026.Biden said in a statement on Monday that his administration was ready to ""expeditiously"" negotiate a new framework but that Russia should demonstrate that it is ready to resume work on nuclear arms control with the United States.""Is this a serious statement or has the White House website been hacked?"" a Russian foreign ministry source told Reuters. ""If this is still a serious intention, with whom exactly do they intend to discuss it?""The New START Treaty, struck in 2011, obliged the United States and Russia to limit deployed intercontinental ballistic missiles, deployed submarine-launched ballistic missiles and deployed heavy bombers equipped for nuclear armaments.It also put limits on nuclear warheads on those deployed missiles and bombers and the launchers for those missiles. Both sides reached the central limits of the Treaty by Feb. 5, 2018 and the Treaty has been extended to the end of Feb. 4, 2026.Register now for FREE unlimited access to Reuters.comEditing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.",Russia puzzled by Biden proposal to replace nuclear arms treaty.
"Register now for FREE unlimited access to Reuters.comSummaryBeijing issues firm warning against a Pelosi visit to TaiwanPelosi would be first U.S House Speaker to visit since 1997Asia trip to include Singapore, Malaysia, South Korea, JapanTaiwan was not included on itinerary released SundayTAIPEI/BEIJING, Aug 1 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday, two people briefed on the matter said, as China warned that its military would never ""sit idly by"" if she visited the self-ruled island claimed by Beijing.Pelosi, who began an Asia trip earlier on Monday in Singapore, was due to spend Tuesday night in Taiwan, the people said.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans.Register now for FREE unlimited access to Reuters.comAmid widespread speculation over whether she would make a stop in Taiwan, Pelosi's office said on Sunday that she was leading a congressional delegation to the region that would include visits to Singapore, Malaysia, South Korea and Japan. It did not mention Taiwan.One source told Reuters that the United States had informed some allies about Pelosi's visit to Taiwan. Another source said Pelosi was scheduled to meet some activists who are outspoken on China rights issues during her stay in Taiwan.Chinese foreign ministry spokesman Zhao Lijian said earlier on Monday that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.”China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing. Republican Newt Gingrich was the last House speaker to visit Taiwan, in 1997.A video by the People's Liberation Army’s Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to ""stand by in battle formation, be ready to fight upon command, bury all incoming enemies.""The White House dismissed China's rhetoric as groundless and inappropriate. ""It is not uncommon for congressional leaders to travel to Taiwan,"" National Security Council spokesman John Kirby said in an interview with CNN early Monday.""We shouldn't be, as a country, we shouldn't be intimidated by that rhetoric, or those potential actions. This is an important trip for the Speaker to be on and we're going to do whatever we can to support her.""A man reads the Global Times newspaper that features a front page article about U.S. House of Representatives Speaker Nancy Pelosi's Asia tour at a street display wall in Beijing, China, August 1, 2022. The front page headline reads: ""Pelosi visits Asia in the smell of gunpowder."" REUTERS/Thomas PeterBIDEN-XI CALLDuring a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait. read more On Monday, Taiwan Premier Su Tseng-chang did not directly respond when asked whether Pelosi will visit on Thursday, as local media had speculated.""We always warmly welcome visits to our country by distinguished foreign guests,"" he told reporters in Taipei.Shi Yinhong, an international relations professor at Renmin University in Beijing, said that if Pelosi visits Taiwan it would prompt the strongest counter-measures by Beijing in years, but he did not expect that to trigger major military conflict.""China has reiterated in no ambiguous terms its opposition to Taiwan separatism. The U.S. has reiterated many times its one-China policy has not changed and that it is against any change to the status quo by either side of the Taiwan Strait,"" he said.""Unless by accident, I am sure neither side would intentionally take military action that could lead to a major security risk.”SINGAPORE VISITOn Monday, Pelosi and her delegation met with Singapore Prime Minister Lee Hsien Loong, discussing issues including cross-strait relations, the Ukraine war and climate change, Singapore's foreign ministry said.""PM Lee highlighted the importance of stable US-China relations for regional peace and security,"" it said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now.""On Monday CNN, citing a Taiwanese official and a U.S. official, both unidentified, said Pelosi was expected to land in Taiwan in the coming days and stay overnight.Register now for FREE unlimited access to Reuters.comReporting by Chen Lin in Singapore, Yimou Lee in Taipei, and Martin Quin Pollard and Yew Lun Tian in Beijing, Doina Chiacu in Washington; Writing by Tony Munroe; Editing by Simon Cameron-Moore, Chizu Nomiyama and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Pelosi set to visit Taiwan despite China warnings, sources say."
"Alex Jones walks into the courtroom in front of Scarlett Lewis and Neil Heslin, the parents of 6-year-old Sand Hook shooting victim Jesse Lewis, at the Travis County Courthouse in Austin, Texas, U.S. July 28, 2022. Briana Sanchez/Pool via REUTERS/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Parents of a child killed in the 2012 Sandy Hook massacre are expected to testify on Monday that U.S. conspiracy theorist Alex Jones fueled a campaign of harassment against them by claiming the shooting was a hoax.Jones, founder of the Infowars radio show and webcast, is on trial in Texas to determine how much he must pay for spreading falsehoods about the killing of 20 children and six staff at Sandy Hook Elementary School in Newtown, Connecticut, on Dec. 14, 2012.Neil Heslin and Scarlett Lewis, the parents of slain 6-year-old Jesse Lewis, are seeking as much as $150 million from Jones and his company, Free Speech Systems LLC.Register now for FREE unlimited access to Reuters.comJones has already been found liable for defamation by Judge Maya Guerra Gamble in Austin, Texas, who issued a rare default judgment against him in 2021.The defamation suit in Texas, where Infowars is based, is one of several brought by families of victims who say they were harassed by Jones’ followers as a result of his false claims.Free Speech Systems filed for U.S. bankruptcy protection on Friday evening. While this would normally result in the trial being halted, a bankruptcy judge on Monday allowed it to continue.Nevertheless, Jones and his company could later attempt to use the bankruptcy proceedings, commenced in another Texas court, to avoid paying the full jury award in the defamation case.During opening statements in Texas last week, lawyers for Heslin and Lewis said Jones led a ""vile campaign of defamation"" and must pay the price for his falsehoods.A lawyer for Jones said he has already paid a price after being deplatformed in 2018 and losing millions of viewers.Jones, who has been intermittently present in the courtroom and occasionally broadcast his show as his lawyers defended him, is set to face trial in September in a similar suit in Connecticut state court, where he has also been found liable for defamation in a default judgment.The Sandy Hook gunman, Adam Lanza, 20, used a Remington Bushmaster rifle to carry out the massacre. It ended when Lanza killed himself with the approaching sound of police sirens.Register now for FREE unlimited access to Reuters.comReporting by Jack Queen; Editing by Noeleen Walder and Howard GollerOur Standards: The Thomson Reuters Trust Principles.",Sandy Hook victim's parents to testify in Alex Jones defamation trial.
"Register now for FREE unlimited access to Reuters.comSummaryCompaniesHSBC to revert to paying quarterly dividends from 2023Aims to win over investors with higher profitability targetSays demerger of Asian business has huge risksLondon shares rise nearly 8%LONDON/SINGAPORE, Aug 1 (Reuters) - HSBC (HSBA.L) pushed back on a proposal by top shareholder Ping An Insurance Group Co of China (601318.SS) to split the lender, a move Europe's biggest bank said would be costly, while posting profits that beat expectations and promising chunkier dividends.London-headquartered HSBC's comments on Monday represent its most direct defence yet since news of Ping An's proposal for carving out the lender's Asian operations broke in April. It comes ahead of HSBC's meeting with shareholders in Hong Kong on Tuesday where the Chinese insurer's proposal will be discussed.And in moves that pleased investors, HSBC raised its target for return on tangible equity, a key performance metric, to at least 12% from next year versus a 10% minimum flagged earlier.Register now for FREE unlimited access to Reuters.comAs key reasons for its increased optimism, the bank cited falling costs, a 4% rise in adjusted revenues and a growing net interest margin as central bank rate hikes improve lending returns.It also vowed to revert to paying quarterly dividends from early 2023.HSBC's shares rose almost 8% in London to trade at their highest since end-June.""We have sympathy for Ping An and all our shareholders that our performance has not been where it needed to be for the last 10 years,"" Chief Executive Noel Quinn, who has run the bank for more than two years, told analysts.Asia is HSBC's biggest profit centre, with the region's share of the lender's profit rising to 69% in the first half from 64% a year ago.Without directly referencing Ping An by name in its earnings presentation earlier on Monday, HSBC said a break-up would mean a potential long-term hit to the bank's credit rating, tax bill and operating costs, and bring immediate risks in executing any spinoff or merger.""There would be a significant execution risk over a three to five year period when clients, employees and shareholders would all be distracted,"" Quinn said on the call, regarding the break-up proposal.Some investors in Hong Kong, HSBC's biggest market, have come out in support of Ping An's proposal. They have been upset after the lender cancelled its payout in 2020. read more Quinn said HSBC would aim to restore its dividend to pre-COVID-19 levels as soon as possible.Discussions with Ping An had been around purely commercial issues, the CEO said, in response to a question from a reporter about whether politics was influencing the Chinese investor's call for the bank to break up.A woman wearing a protective face mask walks past a logo of HSBC bank at the financial and business district of La Defense near Paris, France May 11, 2020. REUTERS/Gonzalo Fuentes/HSBC has shared with its board the findings of a review by external advisers into the validity of its strategy, but will not publish them externally, Quinn told Reuters.Ping An, which has not confirmed or commented publicly on the break-up proposal, owns around 8.3% of HSBC's equity. A Ping An spokesperson declined to comment on HSBC's results and its strategy.Reuters reported last month, citing sources, that HSBC was set to speed up its exit from non-core markets and deploy additional capital in Asia in a bid to push back against Ping An's breakup proposal. read more EARNINGS BEATLast week, Europe's lenders offered some positive surprises on profits. read more Dual-listed HSBC followed in their footsteps, posting a pretax profit of $9.2 billion for the six months to June 30, down from $10.84 billion a year ago but beating the $8.15 billion average estimate of analysts compiled by the bank. https://bit.ly/3BwBEXV""The combination of rising interest rates - and therefore improving net interest margins – alongside cost control and low expectations means that HSBC's second-quarter results are pleasing investors,"" said AJ Bell Investment Director Russ Mould.Quinn, under whose leadership HSBC has ploughed billions into Asia to drive growth, said the upgraded profitability guidance represented the bank's best returns in a decade and validated its international strategy.Instead of the break-up, HSBC will focus on accelerating the restructuring of its U.S. and European businesses, and will rely on its global network to drive profits, the lender said.Quinn said as a result of those moves, the bank's risk-weighted asset reduction programme had reached a cumulative total of $114 billion, and it was on track to reach at least $120 billion of savings by the end of this year.The capital released will be utilised for investing in ""areas of strength"", Quinn said, mainly in Asia.Analysts at Citi said the new guidance implied earnings upside for HSBC. ""The beat this quarter could result in high single digit consolidated profit before tax upgrades,"" they said in a report.HSBC is paying an interim dividend of 9 U.S. cents per share. It also said stock buybacks remain unlikely this year.Register now for FREE unlimited access to Reuters.comReporting by Anshuman Daga and Lawrence White; Editing by Muralikumar Anantharaman, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.","HSBC rejects Ping An break-up call, promises higher dividend."
"CBS Mornings August 1, 2022 / 11:21 AM / CBS News Video raises questions in Georgia death Police bodycam footage raises questions in death of Georgia woman who fell out of patrol car 02:44 Newly released police bodycam footage is raising questions in the death of a mother of two who fell out of a moving patrol car in Georgia.Brianna Grier's family says they've received conflicting explanations about the July 15 incident, and they're now demanding answers. The 28-year-old woman died six days after the encounter with Hancock County deputies in the city of Sparta.Her parents said they called 911 because their daughter, a diagnosed schizophrenic, had threatened to hurt herself and her twin girls. ""I hate that I called,"" her mother, Mary Grier, told CBS News senior national correspondent Mark Strassmann.""I feel like it's my fault… I trusted them to take care of her, not to harm her,"" she said. Two responding deputies struggled to push Brianna Grier into the back of a patrol car that night, authorities said. Less than a minute into the drive, she fell out of the vehicle.The new footage released by the Georgia Bureau of Investigation shows the moments after the fall. ""We're going to need an ambulance... Brianna!"" one of the officers said as Grier lay on the ground, the footage shows.Grier somehow fell out the rear passenger door of the police car, and landed face-down by the side of the road, breathing but unconscious. Grier's family says the Hancock County sheriff later told them she fell out after kicking open the door. But a review by the Georgia Bureau of Investigation concluded that ""Grier was placed in the backseat… with no seatbelt"" and ""the rear passenger side door of the patrol car… was never closed."" The new video does not show the fall. The Hancock County Sheriff's Office had no comment for this story — unlike the Grier family's lawyer, Ben Crump.""Just reckless conduct on behalf of these officers. Deliberate indifference at the hands of somebody who was having a mental health crisis,"" Crump said.Her family is now dealing with a new crisis: their grief.""We need answers. We need closure. We need to know the truth,"" said her father, Marvin Grier.As part of their look into how Brianna Grier died, state investigators say they reviewed multiple videos. Her parents want to see all of them. In: Georgia Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Brianna Grier's family demands answers as new video raises questions in death of Georgia mother who fell out of patrol car.
"Europe is facing an unprecedented gas crisis.Picture Alliance | Picture Alliance | Getty ImagesEurope is facing an unprecedented energy crisis that's pushing the economy closer to a recession and posing serious questions about the region's climate change ambitions.CNBC takes a look at how Russia, led by President Vladimir Putin, is squeezing gas supplies to Europe and what this means for the future.Russia cuts suppliesRussia has significantly reduced flows of natural gas to Europe since Western nations imposed tough sanctions on the Kremlin following its unprovoked invasion of Ukraine on Feb. 24.Moscow denies it is using gas as a weapon, but Europeans complain that Gazprom, Russia's state-owned energy company, is no longer a reliable provider. Reduced gas supplies from Russia are a problem for EU nations given it used to import about 40% of its gas stocks from the country.Data from Nord Stream, the operator in charge of a pipeline (Nord Stream 1) that links Russia to Germany, confirms that there's fewer gas volumes heading West. Last week alone, supplies via Nord Stream 1 were reduced to 20% from 40% with Gazprom citing maintenance issuesGermany's economy minister, Robert Habeck, said Gazprom's technical excuse was a ""farce."" Supplies had been briefly halted before the latest reduction, with maintenance works being completed between July 11 and July 21.According to the European Commission, the EU's executive arm, 12 members states are already suffering from the reduced gas flows and a handful of others have been completely cut off.Top EU officials say Russia is ""blackmailing"" Europe and ""weaponizing"" its gas supplies. Moscow has repeatedly denied the accusations.""We have to be ready, there might be full disruption in near [the] future, and that means that we need to have a plan in place,"" Kadri Simson, Europe's energy commissioner, told CNBC last week.European leaders are concerned about a complete shutdown in supplies, particularly because many industries use the commodity as a raw material in their manufacturing process.In this context, there have been efforts to seek alternative suppliers and different sources of energy. However, this transition is a difficult task that's impossible to be done in a short timeframe.The commission has asked EU nations to have a minimum storage target of 80% by November. In June, gas filling levels were just over 56%, according to the same institution.Natural gas prices soarNatural gas prices have risen dramatically in the wake of Russia's invasion of Ukraine and even beforehand when Russia started to tighten flows.There's renewed price pressures every time Russia decreases its supplies to Europe given how important the commodity is for several sectors and given the lack of alternatives to Russian fossil fuels.Salomon Fiedler, an economist at Berenberg, noted that natural gas prices in Europe are ""exorbitantly more expensive"" now compared with the 2015-2019 price average. ""In a normal year, the EU may use around 4.3 billion megawatt per hour (MWh) worth of natural gas. Thus, if prices are higher by €100 per MWh for one year and the EU had to pay these prices instead of benefitting from some long-term fixed-price contracts, costs would increase by about €430 billion ($437 billion) – equivalent to 3% of the EU's 2021 GDP,"" he said.Higher prices then naturally trickle down to the energy bills of companies and individuals across the bloc.""European benchmark natural gas prices at the Dutch Title Transfer Facility (TTF) shot up by 15% to almost EUR 200 per megawatt-hour as utilities bid for alternative supplies, raising concerns that consumers and industry will struggle to pay their energy bills and that there will be a winter recession,"" analysts at the Eurasia Group consultancy said in a research note Tuesday.Growth expectations shatteredWith supplies reduced and prices higher, the gas crisis is shaking Europe's economic prospects.The latest growth reading for the euro zone, out Friday, showed GDP at 0.7% in the second quarter — above market expectations. But more and more economists are pricing in a recession for 2023.The European Commission said earlier this month that the economy would grow 2.7% this year and 1.5% next year. However, the institution also said that a full shutdown in gas supplies from Russia could bring about a recession later in 2022.""Higher gas prices drive up firms' costs and squeeze consumers' budgets, leaving them less money to spend on other goods and services. As a result, we expect the euro zone to fall into recession this autumn at still high inflation,"" Fiedler said.",3 charts show Europe's unprecedented natural gas crisis.
"Mike Schroepfer, chief technology officer of Facebook Inc., listens during the Wall Street Journal Tech Live global technology conference in Laguna Beach, California, U.S., on Monday, Oct. 21, 2019. The event brings together investors, founders, and executives to foster innovation and drive growth within the tech industry.Bloomberg | Bloomberg | Getty ImagesWhen longtime Facebook executive Mike Schroepfer left his job as Meta's chief technology officer earlier this year, he said he would spend his new free time and energy focusing on addressing the climate crisis. That decision makes him one of a growing number of tech workers who are turning their attention, time and skills to climate change.Schroepfer started giving to climate philanthropically in early 2020 by funding basic scientific research through his organization, Additional Ventures. There wasn't a single ""aha!"" moment that made the tech executive decide he wanted to try to use his resources to contribute to responding to climate change. It was a combination of several factors that collectively pushed him over the tipping point to decide to act.""Something flipped in 2020. I am not sure what, I think it might be the age of my kids,"" Schroepfer told CNBC in a video interview on Wednesday. (He declined to be any more specific about his children or family for the sake of privacy.) He imagined a hypothetical future where his children might look at him and ask, ""'Dad, what were you doing? Why didn't you try to help?'""Also, climate change has started to affect his and his family's daily life.""We live in California, and we now have a thing called wildfire season, and smoke season where we check the AQI every day before we go out,"" he said, referring to the air quality index, a measurement of air pollution and its potential impact on human health. ""And we now have HEPA filters and masks. It's a real health risk for people immediately. And wildfires happen — but they're a lot worse, because of drought. And that is directly linked to climate change.""So in 2020, Schroepfer started making grants for climate-related scientific research through Additional Ventures, a philanthropic organization he set up. He educated himself about climate change, talked to people who knew more than he does about the issue and hired people to do research for him and get him up to speed.We want a livable planet for our children and our children's children. And, you know, it's not a foregone conclusion. We have agency here. Let's start making progress.Mike Schroepferoutgoing CTO, FacebookOne of the hardest and most critical parts of deciding to take action in responding to climate change, for Schroepfer and others he has spoken to, is figuring out how their skillset could be most helpful.""The good news, bad news is, there's a lot of options. And so that's good news. But it then becomes quickly overwhelming. It's sort of like the menu that's way too large. And so you just can't choose what to do, right?"" Schroepfer told CNBC. ""Because what we're talking about is changing almost everything in the economy — transport, food, everything we do, buildings, everywhere we live is going to change. And that's good and exciting, but it's also sort of overwhelming, but it does mean, we need everyone.""Funding ocean carbon removal researchSchroepfer is staying on at Meta as a senior fellow, working on recruiting and artificial intelligence, among other things. But a lot of his attention has already turned toward new ventures.""As an R&D executive, I've overseen lots of things from building data centers, to building an AI Lab to, scaling products to billions of people. And part of what you get good at is trying to understand the landscape and where the opportunities are,"" Schroepfer said.For his first climate research, Schroepfer and the Additional Ventures team are focused on studying the potential of storing carbon dioxide in the ocean.Carbon removal is an area of the climate technology and innovation landscape that Schroepfer sees as desperately necessary and very far behind where it needs to be.""We need to be taking about 10 gigatons of carbon out of the atmosphere every year. And we're doing hardly anything,"" Schroepfer said. ""And it's very expensive to do it. And so we need more money to do it. And we need to technology and solutions that are scalable, and cheaper.""Meta was one of a collection of companies, led by Stripe, and also including Google and McKinsey, to join a $925 million commitment to pay for removing carbon as a way of jump-starting the nascent industry and giving innovators in the space some certainty that there will be demand for the technology they're building. But that, he said, is just a start, and is ""1,000 times less than what needs to be sent spent annually,"" he said.One area of the carbon removal landscape that's gotten a fair amount of interest but is not yet anywhere close to commercialization is the idea of storing carbon in the ocean, or ""enhance this natural pump already existing,"" as Schroepfer said.""Most importantly, there was almost no funding in this space. And these are deep scientific questions,"" Schroepfer said. ""This is early days. And so it felt like a place where we could really contribute because there was so little funding here that we could really help catalyze basic scientific questions of does this work? And is it safe? Which we need to know if we want to explore this as a possibility in the future.""Also with his philanthropic efforts, Schroepfer has also given money to Carbon Plan, a nonprofit climate science data organization, and Carbon180, a nonprofit working to advance carbon removal policies, and Activate, a nonprofit that helps scientists scale their research into a commercial scale business to address climate change.Innovation, not limitationIn addition to his philanthropic work, Schroepfer is investing in companies that are addressing climate change. He declined to name any of his investments, but said they're all early-stage companies, some still in stealth mode without a website yet. But he's been impressed with the sophistication of the innovators who are working on climate.""I'm seeing tons of really passionate entrepreneurs starting tons of different companies focused on climate from capturing carbon in creative ways to fusion, to massively decarbonizing shipping,"" Schroepfer told CNBC.Perhaps unsurprisingly, Schroepfer is a believer in the potential of technology to address climate change, because he says it opens doors to new ways of doing things as opposed to asking consumers to do less with less.""Why I've been in technology for 25 years is, technology has this magic ability to remove hard decisions, to remove constraints,"" he said.Instead of thinking about how people need to cut back, limit and constrain their consumption, Schroepfer is of the mindset that new technology can power continued growth, but in a climate conscious way. ""If we change our economy, we can decarbonize a lot of what we're doing. It's good for people's health right now, it's good for us in the future, and it actually can build a lot of prosperity, better products.""Electric vehicles are a prime example, he said. ""If you've ever driven an electric car, it's just better than a than a gas car. It requires less maintenance, it's faster, like it's quieter, it doesn't pollute literally where your kids and family are. It's just a better product,"" Schroepfer said.Why I've been in technology for 25 years is, technology has this magic ability to remove hard decisions, to remove constraints.Mike Schroepferformer CTO of FacebookHydro-foiling ships are going to become increasingly common, Schroepfer predicts, for the same reason: They're massively more efficient than current cargo ships, and they are a better, smoother ride, he told CNBC. ""Ten years from now, are there going to be hydro-foiling boats in the New York Harbor and on the Hudson River and in the San Francisco Bay? Oh, heck yeah.""That model can and should be replicated in other categories, too. ""And that's just very much what I'm about in technology and engineering is how do we sort of make a bigger pie make it better for everyone, as opposed to make hard trade-offs,"" he said. It's worth noting Schroepfer also recognizes technology innovation alone isn't enough to solve climate change.Optimism with rigorSchroepfer is not alone in his interest in investing in climate tech. The sector has grown significantly in the past couple two to five years, even if it's still not close to sufficient to respond to climate change: ""There is 1% of the enthusiasm we actually need to solve these problems, so I hope we get a whole lot more.""But the growing sector is going to have its share of failures. That's a given, he said. When considering a company to invest in, Schroepfer looks at whether the company will be able to make money, in addition to whether the company will be able to scale its climate impact.""The way I approached this is sort of like a whole, massive dose of optimism, but a whole lot of rigor on the other end,"" he said. He builds out a company's financial models and if the company doesn't have a runway to start selling a product at a profit, he won't invest. On the whole, at scale, people are not going to pay more for a product because it is better for the climate.""Most people can't afford to pay a green premium. So you have to build businesses saying this is as good or better, for the same or lower price, and it happens to have a lot less carbon intensity,"" Schroepfer said.That problem is particularly challenging for carbon removal technologies, which in the United States do not have an existing market beyond a handful of companies that are voluntarily opting to pay for carbon removal. When pressed on where the demand was going to come from to scale the carbon removal industry beyond large companies that care and can afford to be proactive, Schroepfer acknowledged the challenge.""You've put your finger on the the hardest problem here, which is why I spend a bunch of my time on this,"" Schroepfer said. ""I agree with you that it's not solved as of 2022. But it is one of the things that I think a lot of people are working on to figure out.""But he says it's a fundamental reality that people will need to remove carbon from the atmosphere. And so Schroepfer believes there will be a growing market for carbon removal technologies in the future, spurred by growth from companies volunteering to purchase carbon removal, companies that have to pay for carbon removal to meet their own ESG goals, mounting public pressure, and, eventually, carbon emissions governmental regulations.None of these changes will come easily or quickly, but Schroepfer said he's motivated to keep contributing because there isn't another option for the Earth.""We want a livable planet for our children and our children's children. And, you know, it's not a foregone conclusion. We have agency here. Let's start making progress, and we can do it incrementally, and it can be slow, and we can get there. And it can make a better life for people altogether,"" Schroepfer said.About that belief: The day after this interview, Schroepfer emailed this reporter to point to the compromise reconciliation deal reached by Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va. That reconciliation deal includes, among a cornucopia of other things, a tax credit, called 45Q, for carbon sequestration.""Reason for optimism,"" the email's subject line read.",Facebook's former CTO Mike Schroepfer explains why he's turning his attention to climate change.
"Copies of Russian files gathered by the KGB on Lee Harvey Oswald and the assassination of U.S. President John F. Kennedy were released by the U.S. government Aug. 5. 1999, in Washington, D.C. at the National Archives. Pictured here is a copy of an envelope containing a letter sent by Oswald to the Supreme Soviet asking for political asylum in the former U.S.S.R./File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Vadim Bakatin, a liberal politician who briefly headed the Soviet KGB in the months leading up to the collapse of the USSR, has died at the age of 84, Russian state media said on Monday.Bakatin was appointed by Soviet leader Mikhail Gorbachev to head the security service after its previous boss, Vladimir Kryuchkov, played a leading role in a failed coup against Gorbachev in August 1991.In a televised encounter with a former dissident, broadcast several weeks later, Bakatin said he had already found a security police dossier on his grandfather, who was executed under Josef Stalin in 1937 after being denounced by an informer.Register now for FREE unlimited access to Reuters.comHe also said he was open in principle to the idea of opening up KGB archives to shed light on unsolved mysteries such as the 1963 assassination of U.S. President John F. Kennedy.""You are right on one thing: archives concerning those mysteries in which establishing the truth has great significance for mankind - these must be opened up,"" Bakatin told the ex-dissident, Vladimir Bukovsky.Bakatin, a former Soviet interior minister, never had time to act on that pledge, as the Soviet Union collapsed within months.He did make headlines, however, for a goodwill gesture in which he handed over to the United States a bag full of bugging devices and a set of plans showing how the KGB had eavesdropped on the U.S. embassy in Moscow.A Washington Post report in December 1991 said U.S. envoy Robert Strauss recounted the incident to reporters and quoted Bakatin as saying: ""I want to give them to you and I want them turned over to your government, no strings attached, no quid pro quo, in the hope that maybe we can repay you, save you some money, maybe you can use that building again someday.""Register now for FREE unlimited access to Reuters.comReporting by Mark Trevelyan
Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.","Vadim Bakatin, last head of Soviet KGB, dies at 84."
"Politics August 1, 2022 / 11:15 AM / CBS News Washington — President Biden tested positive for COVID-19 again Monday, according to the White House physician, as he continues to experience a rebound infection that can occur in patients taking the Paxlovid antiviral treatment.Dr. Kevin O'Connor, Mr. Biden's physician, said in a letter distributed by the White House that the president ""continues to feel well as he starts his week."" Mr. Biden's positive COVID-19 antigen test, taken Monday morning, was ""anticipated,"" he added.O'Connor said the president will continue strict isolation measures and work from the Executive Residence at the White House. ""The president continues to be very specifically conscientious to protect any of the Executive Residence, White House, Secret Service and other staff whose duties require any (albeit socially distanced) proximity to him,"" he wrote.Mr. Biden first tested positive for COVID-19 on July 21 and experienced mild symptoms. He began taking Paxlovid, the antiviral drug developed by Pfizer, and completed a five-day course one week ago. The president then received two negative test results — first Tuesday evening and again Wednesday morning — and ended his isolation, delivering remarks in the Rose Garden at the White House to mark the progress made in the treatments available for those who contract the coronavirus. But Mr. Biden revealed Saturday that he tested positive again, but did not have any symptoms. ""Rebound positivity"" occurs in a small percentage of patients who take Paxlovid.","Biden continues to test positive for COVID-19, White House says."
"Neel Kashkari, Minneapolis Federal ReserveBrendan McDermid | ReutersIf you're debating whether or not the U.S. is in a recession, you're asking the wrong question, according to a top Federal Reserve official.""Whether we are technically in a recession or not doesn't change my analysis,"" Neel Kashkari, president of the Federal Reserve Bank of Minneapolis, told CBS' ""Face the Nation"" on Sunday. ""I'm focused on the inflation data. I'm focused on the wage data. And so far, inflation continues to surprise us to the upside. Wages continue to grow.""Last month, U.S. inflation jumped to a four-decade record high, rising 9.1% from a year ago. At the same time, the labor market remained strong: Nonfarm payrolls increased by 372,000 last month, alongside a low national unemployment rate of 3.6%.On Thursday, new Labor Department data showed signs of a job market cooldown, with initial jobless claims hitting their highest level since mid-November. Still, Kashkari said, the labor market is ""very, very strong.""""Typically, recessions demonstrate high job losses, high unemployment, those are terrible for American families. And we're not seeing anything like that,"" he said.The problem, Kashkari said, is that even in a strong job market, inflation is outpacing wage growth — giving many Americans a functional ""wage cut"" as living costs increase nationwide. Solving that problem by reducing inflation is the Federal Reserve's top goal right now, he added.""Whether we are technically in a recession or not doesn't change the fact that the Federal Reserve has its own work to do, and we are committed to doing it,"" Kashkari said.The Bureau of Economic Analysis reported on Thursday that the country's gross domestic product shrunk for the second straight quarter, often a warning sign accompanying economic recessions. For Kashkari, that may actually be a good thing: An economic slowdown could help reduce inflation to the point where it no longer outpaces wage growth.""We definitely want to see some slowing [of economic growth],"" he said. ""We don't want to see the economy overheating. We would love it if we could transition to a sustainable economy without tipping the economy into recession.""Doing so poses a significant challenge for the Fed. Kashkari acknowledged that economic slowdowns tend to be very difficult to control, ""especially if it's the central bank that's inducing the slowdown.""Still, he said, the bank will do whatever is necessary to tame inflation.""We're going to do everything we can to avoid a recession, but we are committed to bringing inflation down, and we are going to do what we need to do,"" Kashkari said. ""We are a long way away from achieving an economy that is back at 2% inflation. And that's where we need to get to.""","Are we in a recession? It doesn’t matter, Fed official says: ‘I’m focused on the inflation data’."
"An Amazon delivery worker pulls a delivery cart full of packages during its annual Prime Day promotion in New York City, June 21, 2021.Brendan McDermid | ReutersAmazon said Monday it's adding a handful of retail brands to its same-day delivery offering for Prime members.To start, Amazon is offering same-day delivery from apparel brands PacSun, Diesel, and Superdry, as well as vitamin retailer GNC, in 10 cities across the U.S. The service is free for Prime members when they spend $25 or more, or $2.99 if they spend less than $25, Amazon said.Some of the participating retailers also give shoppers the option to order items online and pick them up at the store.CNBC previously reported Amazon was testing a similar model with its Flex delivery drivers, wherein they'd fetch packages from mall-based retailers and drop them off at customers' doorsteps.Amazon continues to invest heavily to make one-day and, in some areas, same-day, delivery the default for its Prime members. The company has expanded the number of one-day eligible products, and it now has ""thousands"" of items that can be delivered in a few hours.Consumers are increasingly demanding faster and faster delivery speeds from online retailers, as evidenced by the explosion of ultrafast grocery platforms in the last year. Retailers have also jumped on the trend by partnering with on-demand delivery providers like DoorDash, Uber's Postmates, Instacart, UPS' Roadie, as well as Target's Shipt. The partnerships mean that consumers can often get a new t-shirt or dress in a matter of hours.With the new partnership, retailers will fulfill orders from inventory in their stores, and a Flex delivery driver will pick them up from the retailer. Doing so allows Amazon to get online purchases to shoppers' doorsteps even faster.Amazon isn't the only company looking beyond warehouses to fulfill e-commerce orders. Walmart and Target are tapping into their large brick-and-mortar footprints to speed deliveries with the hopes of expanding their e-commerce market share.WATCH: Watch the first look at Amazon and Rivian's electric delivery vans",Amazon launches same-day delivery for some retail brands.
"Traders work on the floor of the London Metal Exchange in London, Britain, September 27, 2018. REUTERS/Simon Dawson//File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Commodity broker Marex has agreed to buy rival ED&F Man Capital Markets to boost its metals business and expand in fixed income and equities, Marex said on Monday.A source close to the situation said the takeover by Marex, one of the world's largest privately-owned commodities brokers, was worth $220 million.The two brokers said in early July they had entered into exclusive talks about the transaction, which leaves the London Metal Exchange (LME) with one less ring-dealing member.Register now for FREE unlimited access to Reuters.comED&F Man Capital Markets (MCM), the financial services division of ED&F Man Group, has 450 employees globally and posted over $235 million of revenues in 2021. Marex had $543 million in revenue last year.""This acquisition creates a more competitive, diversified and resilient firm,"" Marex Chief Executive Ian Lowitt said.The deal has resulted in the LME (0388.HK) losing a member that operates in its ring, the last open-outcry trading floor in Europe, bringing the number down to eight. read more Both brokers have special teams of ring traders, but only one team will be needed by the merged operation.Marex said the takeover would expand its presence in Dubai, the Asia Pacific region and create a U.S. franchise. It is expected to be completed by the end of the year.ED&F Man said the sale of MCM would allow it to focus on its core business of soft commodities.""We are therefore confident that this change in ownership will be to the benefit of all our stakeholders,"" said Jade Moore, group executive director of ED&F Man.Marex, which withdrew an initial public offering last year, said in April it was still keen to list on the market and was awaiting calmer conditions before a possible relaunch.Marex is majority-owned by private equity firm JRJ Group and its partners, Trilantic Europe and BXR Group, which bought stakes in the broker in 2010.Register now for FREE unlimited access to Reuters.comReporting by Eric Onstad
Editing by Sandra Maler and Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Marex to buy ED&F Man Capital Markets for $220 mln in expansion drive.
"REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Global Payments Inc (GPN.N) said on Monday it would buy smaller peer EVO Payments Inc (EVOP.O) for nearly $4 billion including debt, as the fintech firm seeks to expand its footprint in the business-to-business (B2B) space.Companies such as EVO strive to digitize and streamline B2B payments which are usually more complex than business-to-consumer payments as they involve dealing with several domestic and overseas merchants.EVO shares, up nearly 20% in premarket trading, would open at a record-high, if gains hold.Register now for FREE unlimited access to Reuters.comThe deal would give Georgia-based Global Payments access to new markets including Poland, Germany, Chile and Greece and also help scale-up its business in existing markets such as the United States and Canada, the company said.EVO has a sizable presence in Europe which accounted for nearly 40% of its revenue in the first three months this year.The offer of $34 per share is at a 24% premium to EVO stock's last close. The deal is expected to close by the first quarter of 2023, the company said.Global Payments said it would also receive a $1.5 billion investment from private equity firm Silver Lake in the form of convertible notes.Register now for FREE unlimited access to Reuters.comReporting by Niket Nishant in Bengaluru;
Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.",Global Payments to acquire EVO in $4 bln deal to boost B2B segment.
"MoneyWatch August 1, 2022 / 10:40 AM / MoneyWatch PetSmart touts its program training people how to groom animals as free, but enrollees contend it mostly involves on-the-job training and leads to thousands of dollars of debt if they don't stick out the program for two years, according to a class-action lawsuit.PetSmart workers groom more than 13 million pets a year, promising four-legged creatures are ""groomed with love"" by professional stylists with extensive training, according to the complaint, which was filed last week in Superior Court of the state of California. But the retailers' ""grooming academy"" doesn't provide a recognized degree or credentials, and also leaves workers ""thrust into a demanding and sometimes dangerous job, often working for barely above minimum wage,"" it alleges.PetSmart — the largest pet supply chain in the country with more than 1,300 stores across the country — promises aspiring groomers free, paid training that includes classroom-style instruction and supervised hands-on experience. Instead, trainees are quickly grooming dogs for paying customers with limited supervision from trainers or managers, the lawsuit claims. Filed on behalf of BreAnn Scally, who last year worked as a bather and groomer at a PetSmart in Salinas, California, the suit contends she signed on thinking the free training advertised by PetSmart would help her pursue a career in animal rescue, only to find herself swimming in red ink. Unable to pay her bills making little more than the minimum wage, she quit on September 4, 2021.""Tool to trap workers""But Scally and other PetSmart groomers who decide the job is not for them aren't free to move on, as the company requires they sign a so-called Training Repayment Agreement Provision, or TRAP, according to a new report released by the Student Borrower Protection Center, or SBPC, a nonprofit group focused on alleviating student debt. PetSmart charges groomers $5,000 if they fail to stay with the company for at least two years after starting their training, and $2,500 if the person leaves after one year. But if a worker departs before that time frame, the agreement gives them only 30 days to repay, even if they were fired or laid off. The company may also pursue a civil action against the person, Such agreements have been in use for years, but are now widespread among employers including trucking companies, hospital operators, retailers and financial services firms, according to the SBPC.""PetSmart is just another company cynically engineering new forms of student debt as a tool to trap workers,"" Mike Pierce, executive director of the group, said in a statement. The legal action ""should send a clear warning to anyone interested in turning on-the-job-training into a debt trap,"" he added.   Student debt: Is a degree worth the financial strain? 08:49 In January 2022, a collection appeared on Scally's credit report for $5,500, and her credit score fell enough to harm her chances of renting an apartment. She also decided against taking on additional student loans by going back to school for a veterinary assistant degree. ""PetSmart needs to come up with a better way for employees to to become better groomers instead of trapping them with unfair debt,"" Scally said in the statement by the SBPC, which is supporting her legal claim. ""I had gotten my credit score up, and now I have to start all over again. It's brought me back down to square one.""Privately held and owned by a private-equity consortium led by BC Partners, PetSmart said in an email that it does not comment on pending litigation.PetSmart's website advertises ""free paid training valued at $6,000,"" and also promotes the same on social media. PetSmart also touts providing groomers with a free toolkit, but the scissors, brushes and other tools needed to do the work add $500 to what workers have to repay, unless they want to buy their own.  Make a SPLASH with a career as a @petsmart pet stylist! Earn money while you learn with our free training program valued at over $6000! #linkinbio #lifeatpetsmart 📸: petsmart_hanover1964 pic.twitter.com/db7dHomd3W— Life at PetSmart (@LifeatPetSmart) September 7, 2018 The $5,000 cost of the program far exceeds the value of the training, and is well above what the groomers would be able to afford, removing workers' bargaining power to find a job with better pay or working conditions, the suit contends. ""Most of what Scally learned was by working through the training materials on her own or watching other groomers do their jobs,"" it claims.The debt is illegal under California law, which lets employers charge employees for training only if it's primarily for their personal benefit and not for training that mostly helps the employer, according to the suit. California does not require any specific licensing or degree to work as an animal groomer. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","PetSmart's ""grooming academy"" traps workers in debt, lawsuit claims."
"How employee stock purchase plans worksTypically offered to all employees, ESPPs may allow you to purchase company stock at a discount of up to 15%, capped at $25,000 per year for tax-qualified plans.The plan collects after-tax contributions from each paycheck during an ""offering period,"" and uses the funds to buy company stock on a specific date.""The gold standard for a plan is going to be a 15% discount with a lookback feature,"" said Bruce Brumberg, editor-in-chief and co-founder of myStockOptions.com.A ""lookback"" provision bases the stock purchase price on the value at the beginning or end of the offering period, whichever is lower. For example, let's say your ESPP offers a 15% discount and a lookback. With a $20 starting price and $22 ending price, you'll lock in a 15% discount on $20, for total savings of 22.7% per share. Nearly 4 in 10 public companies offer discounts and lookbacks for ESPPs, according to a 2022 report from Morgan Stanley at Work.What to know before selling your sharesWhile it may be tempting to cash in your discounted shares, there are complicated tax rules to consider, including levies on the discount. The breakdown of regular income and more favorable long-term capital gains depends on when you sell.Your employer may also require you to keep the shares for a set period of time. ""Some companies have an additional holding period requirement,"" Brumberg said. ""They don't want you to flip the shares.""The gold standard for a plan is going to be a 15% discount with a lookback feature.Bruce BrumbergEditor-in-chief and co-founder of myStockOptions.comOf course, there are other key details to confirm in the plan document.You'll want to know whether the ESPP is tax-qualified, which may offer savings, as well as how to enroll, the length of the offering period, purchase dates, how to make changes and what happens if you pull out of the plan, he said. Check 'all the other boxes' before an ESPPWhile a down market may offer an even deeper discount, allowing you to buy more shares, there are other trade-offs to consider before piling in. There's no guarantee you'll make a profit, because ""stocks don't always go up,"" McKenna said.Indeed, most individual stocks don't outperform the market, according to a J.P. Morgan analysis. From 1980 to 2020, nearly 45% of companies from the Russell 3000 Index suffered a 70% price decline from peak and never recovered, the report shows.Given these risks, experts may suggest an ESPP to compliment your 401(k), rather than as the primary way to save and invest. And you'll still want to weigh your risk tolerance and goals before enrolling.An ESPP may be worth considering if you're already meeting your other financial goals, such as maxing out your 401(k), investing in a brokerage account, paying off debt or other savings goals, McKenna said.It may work once you've ""checked all the other boxes,"" she said, but it may be better to focus on other planning opportunities first.","Employee stock purchase plans can carry 'a big risk,' says advisor. What to know before buying in."
"Ford Assembly workers install a battery onto the chassis of a Ford Focus Electric vehicle at the Michigan Assembly Plant in Wayne, Michigan November 7, 2012. REUTERS/Rebecca Cook Register now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1(Reuters) - U.S. manufacturing activity slowed less than expected in July and there were signs that supply constraints are easing, with a gauge of prices paid for inputs by factories falling to a two-year low, suggesting inflation has probably peaked.The Institute for Supply Management (ISM) said on Monday that its index of national factory activity dipped to 52.8 last month, the lowest reading since June 2020, when the sector was pulling out of a COVID-19 induced slump. The ISM PMI index was at 53.0 in June. A reading above 50 indicates expansion in manufacturing, which accounts for 11.9% of the U.S. economy. Economists polled by Reuters had forecast the index falling to 52.0.The cooling reflects a shift in spending back to services from goods and rising interest rates as the Federal Reserve tackles stubbornly high inflation. The U.S. central bank last week raised its policy rate by another three-quarters of a percentage point. It has now hiked that rate by 225 basis points since March. read more Register now for FREE unlimited access to Reuters.comThe ISM survey's forward-looking new orders sub-index dropped to 48.0 last month from a reading of 49.2 in June. It was the second straight monthly contraction. Combined with a steady reduction in order backlogs, that suggests a further slowdown in manufacturing in the months ahead.Still, the continued growth in manufacturing supports economists' views that the economy was not in recession, despite gross domestic product contracting 1.3% in the first half of the year. Wild swings in inventories and the trade deficit tied to snarled global supply chains have been largely to blame, though overall momentum has cooled.Supply bottlenecks appear to be easing. The ISM's measure of supplier deliveries dropped to 55.2 from 57.3 in June. A reading above 50% indicates slower deliveries to factories.The improvement helped to curb inflation at the factory gate last month. A measure of prices paid by manufacturers plunged to 60.0. That was the lowest level since August 2020 and was down from 78.5 in June. But the road to low inflation will be long.While the survey's measure of factory employment rose to 49.9, it remained in contraction territory for a third straight month. Technology companies like Tesla (TSLA.O) have been laying off workers, but many manufacturers as recently as in June expressed difficulty finding workers.There were 11.3 million unfilled jobs across the economy at the end of May, with nearly two job openings for every unemployed worker.Register now for FREE unlimited access to Reuters.comReporting by Lucia Mutikani; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.",U.S. manufacturing sector slows modestly; supply bottlenecks appear to ease.
"BEREA, OH - JULY 30: Deshaun Watson #4 of the Cleveland Browns runs a drill during Cleveland Browns training camp at CrossCountry Mortgage Campus on July 30, 2022 in Berea, Ohio.Nick Cammett | Getty ImagesCleveland Browns quarterback Deshaun Watson was suspended for six games Monday for violating the NFL's personal conduct policy following accusations of sexual misconduct made against him by two dozen women in Texas, two people familiar with the decision said.The people spoke on condition of anonymity because the decision had not been publicly released. Watson, who played for four seasons with Houston before being traded to Cleveland in March, recently settled 23 of 24 lawsuits filed by massage therapists alleging sexual harassment and assault during appointments in 2020 and 2021.After learning the ruling was imminent, the NFL Players Association issued a joint statement with Watson on Sunday night, saying they will not appeal disciplinary officer Sue L. Robinson's ruling and urged the league to follow suit.""Every player, owner, business partner and stakeholder deserves to know that our process is legitimate and will not be tarnished based on the whims of the League office"" the union said in a statement.If either side appealed, NFL Commissioner Roger Goodell or someone he designates will make the decision, per terms of the collective bargaining agreement. The union then could try to challenge that ruling in federal court.As he awaited the ruling, Watson has been in training camp with the Browns. He has continued to take most of the reps with the first-team offense, which will be turned over to backup Jacoby Brissett while he's sidelined.The league had pushed for an indefinite suspension of at least one year and a $5 million fine for the 26-year-old Watson during a three-day hearing before Robinson in June. The NFL Players' Association argued Watson shouldn't be punished at all because he was not convicted of any crime.Two grand juries in Texas declined to indict Watson on criminal complaints brought by 10 of the women.This was the first case for Robinson, a former U.S. district judge who was jointly appointed by the NFL and the union to handle player misconduct — a role previously held by Goodell.A three-time Pro Bowl pick with the Texans, Watson has seen his playing career stalled by the allegations that he acted inappropriately with the women during massage therapy sessions he scheduled via social media. He sat out the 2021 season.In their lawsuits, the women accused Watson of exposing himself, touching them with his penis or kissing them against their will. One woman alleged Watson forced her to perform oral sex.Watson has denied all wrongdoing, insisting any sexual activity with three of the women was consensual. He publicly insisted his goal was to clear his name before agreeing to confidential financial settlements with 20 of the women on June 21.Watson's high-profile case has renewed scrutiny of the league's handling of player misbehavior, along with its support for women, and left the Browns wondering if they'll ever find a franchise quarterback.Since the trade, Watson has been on public display, with fans questioning whether the league had the authority to ban him from playing despite no criminal charges.The league has been sensitive about its image and handing out the appropriate discipline for Watson after being criticized for its handling of previous sexual misconduct cases involving Baltimore running back Ray Rice, Pittsburgh quarterback Ben Roethlisberger and Cleveland running back Kareem Hunt among others.For their part, the Browns were widely condemned for signing Watson. The team has been desperate to find a long-term answer at quarterback — they've had a league-high 32 starters since 1999 — and many questioned why the team would take on a player with so much baggage.During his introductory news conference after he was traded to Cleveland, Watson was adamant about his innocence.""I have never assaulted, disrespected or harassed any woman in my life,"" he said at the dais, where he was joined by Browns general manager Andrew Berry and coach Kevin Stefanski. ""I was raised differently. That is not my DNA. That is not my culture. That is not me as a person.""He repeated those comments three months later during the Browns' minicamp, insisting his only goal was to clear his name. However, a week later he settled 20 of the civil lawsuits. Any remaining lawsuits could still go to trial, but not until 2023 after both sides agreed to wait until after the upcoming season.On July 15, 30 women settled lawsuits against the Texans after claiming the team ignored and enabled Watson as he harassed and assaulted them during the therapy sessions. Terms of the settlements were kept confidential.Despite Watson's legal entanglement, the Browns — along with several other teams — pursued Watson after the first grand jury declined to indict him.Initially, Watson turned down the Browns. But Cleveland owners Dee and Jimmy Haslam enticed him with a fully guaranteed five-year, $230 million contract.Watson had other offers but chose the Browns and waived his no-trade clause to join a team coming off a disappointing 8-9 season. Cleveland completed the deal on March 18 by agreeing to send Houston three first-round draft picks and six selections overall for Watson.The Haslams said any concerns they had about his character or behavior were alleviated when they flew to Houston along with Berry and Stefanski and spent time talking to Watson.An All-American at Clemson, Watson was drafted by the Texans with the No. 12 pick in 2017. He started six games as a rookie before passing for 4,165 yards and 26 touchdowns in his second year.Watson has developed into one of the league's elite QBs, throwing for 4,823 yards and 33 TDs in 2020 despite playing on a Texans team that went just 4-12.","Cleveland Browns quarterback Deshaun Watson suspended for 6 games, sources say."
"U.S. House Speaker Nancy Pelosi (D-CA) faces reporters during a news conference at the U.S. Capitol in Washington, U.S., July 29, 2022. REUTERS/Jonathan ErnstRegister now for FREE unlimited access to Reuters.comTAIPEI, Aug 1 (Reuters) - Several Taiwan media outlets reported late on Monday that U.S. House of Representatives Speaker Nancy Pelosi will visit Taiwan on Tuesday and spend the night in Taipei, citing unidentified sources.China has warned that its military would never ""sit idly by"" if Pelosi were to visit Taiwan, the self-ruled island claimed by Beijing. read more The Liberty Times newspaper said Pelosi was scheduled to visit Taiwan's parliament on Wednesday morning before continuing her Asia trip.Register now for FREE unlimited access to Reuters.comThe United Daily News, also citing unnamed sources, said ""related officials"" were told to receive Pelosi, who is set to arrive in the capital Taipei on Tuesday evening at the soonest and spend the night there.Taiwan's foreign ministry said it has no comment on reports on Pelosi's travel plan and no further information to share with media.Earlier on Monday, Chinese foreign ministry spokesman Zhao Lijian said it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences."" read more A visit by Democrat Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would coincide with worsening ties between Washington and Beijing. Republican Newt Gingrich was the last U.S. House speaker to visit Taiwan, in 1997.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Register now for FREE unlimited access to Reuters.comReporting by Yimou Lee; Editing by Andrew Heavens and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.",U.S. House Speaker Pelosi to visit Taiwan on Tuesday -Taiwan media.
"Flames burn to the Klamath River during the McKinney Fire in the Klamath National Forest northwest of Yreka, California, on July 31, 2022.David Mcnew | AFP | Getty ImagesAuthorities said two bodies were found inside a burned vehicle in the path of a raging Northern California wildfire that is one of several major blazes burning across the U.S. West amid hot, dry, gusty conditions.The McKinney Fire exploded in size to more than 82 square miles (212 square km) after erupting Friday in a largely unpopulated area in the Klamath National Forest just south of the Oregon state line, according to a Sunday night incident report. It is California's largest wildfire of the year so far.Two bodies were found Sunday inside the charred vehicle located in a residential driveway near the remote community of Klamath River, California, the Siskiyou County Sheriff's Office said in a statement Monday. The victims were not immediately identified.Flames torched trees along State Route 96 and raced through hillsides in sight of homes on Sunday. The blaze cast an eerie, orange-brown hue, in one neighborhood where a brick chimney stood surrounded by rubble and scorched vehicles. Crews on the ground worked to keep the fire from moving east into the town of Yreka, home to 7,500 people.A second, smaller fire just to the west that was sparked by dry lightning Saturday threatened the tiny town of Seiad. About 400 structures were under threat from the two California fires. Authorities have not confirmed the extent of the damage yet, saying assessments would begin when it was safe to reach the area.A third fire, which was on the southwest end of the McKinney blaze, prompted evacuation orders for around 500 homes Sunday, said Courtney Kreider, a spokesperson with the Siskiyou County Sheriff's Office. The office said crews had been on the scene of the fire since late Saturday but by the following morning it ""became active and escaped its containment line.""Several people in the sheriff's office have been affected by evacuation orders due to the fires ""and they're still showing up to work so, (a) very dedicated crew,"" she said. A deputy lost his childhood home to fire on Friday, she said.Thunderstorms that brought barrages of lightning and threatened to spark new fires in dry fuel beds in Northern California were expected to move out starting Monday, forecasters said.In northwest Montana, a fire sparked in grasslands near the town of Elmo had grown to about 17 square miles (44 square km) Sunday after advancing into forest. Crews worked along edges of the fire, and aircraft were expected to continue to make water and retardant drops to help slow the fire's advance, said Sara Rouse, a spokesperson with the interagency team assigned to the fire. High temperatures and erratic winds were expected, she said.A section of Highway 28 between Hot Springs and Elmo that had been closed was reopened with drivers asked to watch for fire and emergency personnel. Visibility in the area was poor, Rouse said.In Idaho, the Moose Fire in the Salmon-Challis National Forest has burned on more than 75 square miles (196 square km) in timbered land near the town of Salmon. It was 21% contained by Sunday. Pila Malolo, planning operations section chief on the fire, said in a Facebook video update that hot, dry conditions were expected to persist Sunday. Officials said they expected fire growth in steep, rugged country on the fire's south side.California Gov. Gavin Newsom declared a state of emergency Saturday as the McKinney Fire intensified. The proclamation allows Newsom more flexibility to make emergency response and recovery effort decisions and access federal aid.California law enforcement knocked on doors in the towns of Yreka and Fort Jones to urge residents to get out and safely evacuate their livestock onto trailers. Automated calls were being sent to land phone lines as well because there were areas without cell phone service.Scientists say climate change has made the West warmer and drier in the past 30 years and will continue to make weather more extreme and wildfires more frequent and destructive.The Pacific Coast Trail Association urged hikers to get to the nearest town while the U.S. Forest Service closed a 110-mile (177-km) section of the trail from the Etna Summit to the Mt. Ashland Campground in southern Oregon.In Hawaii, the Maui County Emergency Management Agency said a brush fire was 90% contained but a red flag warning was in effect for much of Sunday.And in north Texas, firefighters continued in their effort to contain the 2-week-old, 10 1/2-square-mile (27 1/3-square-kilometer) Chalk Mountain Fire. The crews now report 83% containment of the fire that has destroyed 16 homes and damaged five others about 50 miles (80 kilometers) southwest of Fort Worth. No injuries have been reported.",2 bodies found inside vehicle in path of big California fire.
"The HSBC bank logo is seen in the Canary Wharf financial district in London, Britain, March 3, 2016. REUTERS/Reinhard KrauseRegister now for FREE unlimited access to Reuters.comDUBAI, Aug 1 (Reuters) - The Middle East and North Africa franchisee of fast-food restaurants KFC and Pizza Hut has added HSBC (HSBA.L) to its syndicate of advisers for its potential dual listing this year, two sources familiar with the matter told Reuters.Americana Group has hired HSBC as a joint bookrunner on the initial public offering (IPO), which could value the company as much as $8 billion, said the sources, declining to be named as the matter is not public. One of the sources said more bookrunners could be added.Americana, which is considering a public share sale in the United Arab Emirates and Saudi Arabia, and HSBC did not immediately respond to requests for comment.Register now for FREE unlimited access to Reuters.comAmericana has picked Goldman Sachs (GS.N), Morgan Stanley, First Abu Dhabi Bank (FAB) (FAB.AD) and Saudi National Bank (SNB) (1180.SE) as joint global coordinators for the deal, separate sources told Reuters in April. read more Rothschild & Co (ROTH.PA) is working as financial adviser on the IPO, other sources told Reuters in April. read more Americana is owned by Saudi Arabia's Public Investment Fund (PIF) and an investment consortium led by Dubai businessman Mohammed Alabbar, founder of Dubai-listed Emaar Properties (EMAR.DU).Americana was founded in Kuwait in 1964 and operates 1,800 restaurants across the region, according to its website. It operates the franchises for KFC, Pizza Hut, Hardee's and Krispy Creme, among others.Gulf issuers have raised over $11 billion in the first half of this year from IPOs, according to data from Refinitiv, exceeding European flotations even as global markets remain volatile in the wake of Russia's invasion of Ukraine.Gulf markets are highly correlated to oil prices, where Brent crude is trading above $100 a barrel.Saudi Arabia's Tadawul equity index is up 9% this year, while Abu Dhabi's main benchmark is up more than 15% and Dubai is up over 5%.Register now for FREE unlimited access to Reuters.comReporting by Hadeel Al Sayegh
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Americana adds HSBC to list of banks for Gulf dual listing -sources.
"Register now for FREE unlimited access to Reuters.comSummaryBeijing issues firm warning against a Pelosi visit to TaiwanPelosi would be first U.S House Speaker to visit since 1997Asia trip to include Singapore, Malaysia, South Korea, JapanTaiwan was not included on itinerary released SundayTAIPEI/BEIJING, Aug 1 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi was set to visit Taiwan on Tuesday, Taiwanese media reported on Monday, citing unidentified sources, as China warned that its military would never ""sit idly by"" if she were to visit the self-ruled island claimed by Beijing.One of the newspapers, the Liberty Times, said Pelosi was scheduled to visit Taiwan's parliament on Wednesday morning before continuing her Asia trip, which began earlier on Monday in Singapore. Reuters could not immediately confirm the reports.Taiwan's foreign ministry said it had no comment on reports of Pelosi's travel plans.Register now for FREE unlimited access to Reuters.comAmid widespread speculation over whether she would make a stop in Taiwan, Pelosi's office said on Sunday that she was leading a congressional delegation to the region that would include visits to Singapore, Malaysia, South Korea and Japan. It did not mention Taiwan.Chinese foreign ministry spokesman Zhao Lijian said earlier on Monday that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.”China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing. Republican Newt Gingrich was the last House speaker to visit Taiwan, in 1997.A video by the People's Liberation Army’s Eastern Theater Command, which showed scenes of military exercises and preparations and was posted on state media sites on Monday evening, urged troops to ""stand by in battle formation, be ready to fight upon command, bury all incoming enemies.""The White House dismissed China's rhetoric as groundless and inappropriate. ""It is not uncommon for congressional leaders to travel to Taiwan,"" National Security Council spokesman John Kirby said in an interview with CNN early Monday.""We shouldn't be, as a country, we shouldn't be intimidated by that rhetoric, or those potential actions. This is an important trip for the Speaker to be on and we're going to do whatever we can to support her.""BIDEN-XI CALLA man reads the Global Times newspaper that features a front page article about U.S. House of Representatives Speaker Nancy Pelosi's Asia tour at a street display wall in Beijing, China, August 1, 2022. The front page headline reads: ""Pelosi visits Asia in the smell of gunpowder."" REUTERS/Thomas PeterDuring a phone call last Thursday, Chinese President Xi Jinping warned U.S. President Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait. read more On Monday, Taiwan Premier Su Tseng-chang did not directly respond when asked whether Pelosi will visit on Thursday, as local media have speculated.""We always warmly welcome visits to our country by distinguished foreign guests,"" he told reporters in Taipei.Shi Yinhong, an international relations professor at Renmin University in Beijing, said that if Pelosi visits Taiwan it would prompt the strongest counter-measures by Beijing in years, but he did not expect that to trigger major military conflict.""China has reiterated in no ambiguous terms its opposition to Taiwan separatism. The U.S. has reiterated many times its one-China policy has not changed and that it is against any change to the status quo by either side of the Taiwan Strait,"" he said.""Unless by accident, I am sure neither side would intentionally take military action that could lead to a major security risk.”SINGAPORE VISITOn Monday, Pelosi and her delegation met with Singapore Prime Minister Lee Hsien Loong, discussing issues including cross-strait relations, the Ukraine war and climate change, Singapore's foreign ministry said.""PM Lee highlighted the importance of stable US-China relations for regional peace and security,"" it said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now.""On Monday CNN, citing a Taiwanese official and a U.S. official, both unidentified, said Pelosi was expected to land in Taiwan in the coming days and stay overnight. Reuters could not immediately confirm the report.Register now for FREE unlimited access to Reuters.comReporting by Chen Lin in Singapore, Yimou Lee in Taipei, and Martin Quin Pollard and Yew Lun Tian in Beijing, Doina Chiacu in Washington; Writing by Tony Munroe; Editing by Simon Cameron-Moore, Chizu Nomiyama and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.","Pelosi to visit Taiwan, local media say, despite China warnings."
"Commuters are reflected on an advertisement of Reliance Industries' Jio telecoms unit, at a bus stop in Mumbai, India, February 21, 2017. REUTERS/Shailesh AndradeRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 1(Reuters) - Reliance Industries' (RELI.NS) Jio emerged as the biggest spender in India's $19 billion 5G spectrum auction, with the top telco player winning airwaves worth $11 billion as the world's no.2 mobile market gears up for the high-speed wireless network.India's government aims to begin the rollout of 5G - which it says can provide data speeds about 10 times faster than 4G - by October this year. Globally, the next generation network is seen as vital for emerging technologies like self-driving cars and artificial intelligence.The country's telecoms minister said that companies bought 71% of a total of 72 GHz spectrum offered in the auction, which concluded on Monday and also saw participation from Jio rivals Bharti Airtel (BRTI.NS) and Vodafone Idea (VODA.NS), as well as a unit of Adani Enterprises Ltd (ADEL.NS).Register now for FREE unlimited access to Reuters.comAirtel and Vodafone won spectrum worth $5.4 billion and $2.4 billion, respectively.Adani, the newest entrant to the auction process, purchased airwaves worth nearly $27 million. The firm does not plan to offer consumer services and is instead aiming to enter the private 5G network space.To aid the cash-strapped telecom sector, the government is allowing auction winners to pay the amounts owed in 20 equal annual installments.Airtel and Vodafone have been under pressure since Jio triggered a price war in 2016 with both reporting losses in recent years, also squeezed by spectrum dues from earlier auctions. However, recent mobile data price hikes have helped Airtel creep back to profit.""This spectrum acquisition...has been part of a deliberate strategy to buy the best spectrum assets at a substantially lower relative cost compared to our competition,"" Airtel Chief Executive Officer Gopal Vittal said in a statement.Without giving specifics, Jio said that it will be ready for the 5G rollout ""in the shortest period of time"".Register now for FREE unlimited access to Reuters.comReporting by Munsif Vengattil in New Delhi; Additional reporting by Nallur Sethuraman and Chris Thomas in Bengaluru; Editing by Shailesh Kuber, Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",Reliance Jio top spender in India's $19 bln 5G spectrum auction.
"Speaker of the US House of Representatives Nancy Pelosi (2nd L) leaves the Shangri-La Hotel after a reception organised by the American Chamber of Commerce in Singapore on August 1, 2022.Roslan Rahman | AFP | Getty ImagesSeveral Taiwan media outlets reported late on Monday that U.S. House of Representatives Speaker Nancy Pelosi will visit Taiwan on Tuesday and spend the night in Taipei, citing unidentified sources.China has warned that its military would never ""sit idly by"" if Pelosi were to visit Taiwan, the self-ruled island claimed by Beijing.The Liberty Times newspaper said Pelosi was scheduled to visit Taiwan's parliament on Wednesday morning before continuing her Asia trip.The United Daily News, also citing unnamed sources, said ""related officials"" were told to receive Pelosi, who is set to arrive in the capital Taipei on Tuesday evening at the soonest and spend the night there.Taiwan's foreign ministry said it has no comment on reports on Pelosi's travel plan and no further information to share with the media.Earlier on Monday, Chinese foreign ministry spokesman Zhao Lijian said it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""A visit by Democrat Pelosi, who is second in the line of succession to the U.S. presidency and a long-time critic of China, would coincide with worsening ties between Washington and Beijing. Republican Newt Gingrich was the last U.S. House speaker to visit Taiwan, in 1997.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.",U.S. House Speaker Pelosi is reportedly said to visit Taiwan on Tuesday.
"U.S. Senate Rules and Administration Committee Chair Sen. Amy Klobuchar (D-MN) presides during a Senate Rules and Administration Committee oversight hearing to examine the U.S. Capitol Police following the January 6, 2021 attack on the Capitol, one day before the anniversary of the attack in Washington, U.S., January 5, 2022.Elizabeth Frantz | ReutersThe most promising tech antitrust bill to move through Congress won't get a vote before the summer recess, its lead sponsor Sen. Amy Klobuchar, D-Minn., admitted in a recent interview on MSNBC's ""Symone.""Klobuchar said on Saturday she talked with Senate Majority Leader Chuck Schumer, D-N.Y., last week about having a vote on the American Innovation and Choice Online Act in the fall, according to Axios.""We're not going to be able to do it this week, obviously, with the major vote we're having on the Inflation Reduction Act,"" she said, according to Axios' transcription.Klobuchar's bill, co-sponsored by Senate Judiciary Committee Ranking Member Chuck Grassley, R-Iowa, would prohibit dominant tech platforms from advantaging their own products over rivals' that rely on their services. That could have a significant impact on how companies like Amazon, Apple and Google display search results on their marketplaces, for example.The bill's champions say the reform is necessary to rebalance the power in digital markets and allow newer innovators to thrive. But critics, including the tech companies, have argued the bill would worsen the consumer experience by potentially weakening security standards and the platforms' ability to kick harmful products off of their marketplaces. Klobuchar and other backers of the bill have denied that's the case.Schumer previously said he aimed to put the bill to a vote by early summer, Axios was first to report in May. But while Klobuchar and others have expressed confidence the bill would receive a filibuster-proof majority if brought to the Senate floor, Schumer had yet to schedule the vote by the Senate's final week in session before the August recess.The bill could get another shot later this year after the midterm elections, though that leaves little time to get it done. Many of the bill's supporters believe it would be much harder to pass if Republicans gain control of the House, as many pollsters predict they will. And proponents fear the longer it takes to put the bill to a vote, the more time tech lobbyists will have to sow seeds of doubt in the minds of lawmakers.Klobuchar's office did not immediately respond to CNBC's request for comment.Subscribe to CNBC on YouTube.WATCH: Here's why some experts are calling for a breakup of Big Tech after the House antitrust report","Senate won't vote on tech antitrust bill before summer recess, Klobuchar says."
"Back in 2016, I went through back-to-back layoffs just five years into my career in tech. One layoff would have been hard enough, but two in a row just made me feel utterly defeated. But what I didn't realize at the time was that these setbacks were the start of something greater.I started freelancing, and built a website about a side hustling called I Like to Dabble while I looked for a new 9-to-5 role. When I landed a new job, I focused heavily on continuing to build other income streams outside of work. If I experienced another layoff, I would at least have that income to fall back on. But my side hustles soon helped me pay off over $40,000 of debt and finally start building wealth.Looking back now, I understand now that I was partially driven to do these things out of fear. But over time, I Like to Dabble evolved into an award-winning resource to help neurodivergent and LGBTQ+ folks like me gain more independence and power over their careers and financial futures. I was someone who struggled with money for a long time. I also had a hard time relating to financial advice that wasn't designed for my neurodivergent brain, and was geared toward a cisheteronormative experience that wasn't my own. So being able to turn my personal outlet into something that helped my community was huge for me. But even as I was growing my income every month with my business and side hustles, my energy was being drained at my day job. My mind was being split in two from juggling the work at both. Burning the candle at both ends was unsustainable for my mental health, so a decision had to be made.This summer, I left my six-figure job in tech to run my digital side hustles full time. Here's how I made that big goal happen:1. I changed the story I was telling myself about my career and relationship with workIn the early days of my career as a web engineer at a startup, I was curious and inspired by coding and the work I was doing. The work was creative, collaborative, hard as hell, and so much fun. I would be so proud of myself when someone asked what I do for a living and I got to respond with, ""I'm a software engineer."" I connected this title to my identity and worth.When my salary increased and I got promotions, I also attached those to my identity. I'd even start attaching the companies I worked for to my identity. They were all a part of this story I was telling myself about whether I was doing ""good enough"" in life. The last few years, however, were very different. As my business and skills outside of my day job grew in another direction, the less I wanted to put up with the male-dominated culture of corporate tech. I couldn't see a future for myself in this industry and I was simply burnt out.And my priorities were changing. Success didn't mean a six-figure job and a fancy title anymore. It meant living a happy and fulfilling life, and working in an environment where I get to show up completely as myself.Quitting my six-figure tech job in the middle of rising inflation, a potential recession, and the uncertainty of an ongoing pandemic might be seen as foolish. But to me, now is the perfect time. There are always going to be what-if's and external factors beyond my control. I knew that I couldn't waste any more time doing work that I didn't care about. Video by Tala Hadavi2. I diversified my income streamsIf I was going to work for myself full-time and no longer have a 9-to-5 salary, I wanted to make sure the financial foundation in both my personal and business life was solid. That meant diversifying my income streams and coming up with creative ways to still get a stable enough income without consistent paychecks from an employer.For example, I Like to Dabble brings in money with ads on the website, affiliate partnerships, brand partnerships, digital products, courses, consulting, coaching, and speaking. In addition to that, I also make money as a freelance writer for various other websites and blogs. It took me five years to build up these income streams.As I have transitioned into full-time entrepreneurship, time management is an even bigger priority. Now when I am developing new income streams, if an idea is time intensive but won't have a good return, I won't pursue that. Instead, I've shifted my focus to ideas that lend themselves to creating automated, sustainable systems that can grow over time, and not take on projects that ask for free or low-paying work.When I left my 9-to-5 to go full-time, I also switched the structure of my company so I could pay myself as a W-2 employee from my own business.3. I set clear but flexible saving goalsToward the end of last year, I set a few financial goals that I wanted to hit before I made the official switch. These were things like paying off our last car, maxing out my 401(k) at my day job, out-earning my day job with my business three months in a row, and saving up one year of emergency fund savings.I hit some of these goals, but not others. We paid off our car earlier this year. While I maxed out my 401(k) at my day job last year, I didn't this year — although I now have a solo 401(k) to top up. And my business didn't completely out-earn my day job three months in a row, but came pretty darn close. We're not at a full year for our emergency fund, but we did hit $40,000 in savings and $15,000 in an emergency fund I have for my business. I also was able to hit over six figures in investments last year, and have kept building.So even though I didn't hit all of my initial financial goals before I put in my notice, the progress I did make with them in mind still got me on the right track to have a solid enough foundation to be able to leap when I did. I also realized that you can make plans, but at a certain point, I didn't want to wait for an arbitrary number, or for it to be the ""right time"" to pursue what was really important to me. Video by Helen Zhao4. I researched the benefits that I would cover after I quitOne of the biggest hurdles involved with leaving my 9-to-5 was the benefits I was going to lose. I had some of the best benefits I'd ever had in my career, with a 10% match on my 401(k) contributions and inexpensive monthly premiums on health insurance. There were times when I thought I was making a foolish decision by walking away from them. Unfortunately, the way health insurance is set up in the United States, it can feel near-impossible to navigate, let alone finding cheaper options that provide the coverage you want or need. Fortunately, my wife's employer does offer health insurance that we can both transfer to after our current coverage ends, but at a much higher monthly premium. I also looked at health plans on our state's healthcare marketplace, which is another option for self-employed folks.Due to the insurance costs, we did have to adjust our fixed expenses on our budget. But I was able to open a solo 401(k) through my business that I can contribute to each month. 5. I made sure I left on good termsEven though my job in tech was no longer aligned with where I wanted to go in my life, I didn't want to ruin any of those relationships I built working there. I reviewed the policy at my employer before putting in my notice, made sure I met with my manager to inform her before sending it through, and copied HR on all correspondence.It was a weird feeling after it was all done. Of course I was scared, but I knew it was the right decision. Ultimately, I was excited for the first time in a long time about what was ahead.I put my two week notice in at the end of June, the perfect way to end Pride month as I commit to a bright, and rainbow-colored future, helping neurodivergent and LGBTQ+ folks increase their incomes and design their dream lives full-time.Daniella Flores is a software engineer, serial side hustler, and creator of the blog I Like to Dabble. Daniella has grown I Like to Dabble on the side of their full-time job to 100,000 monthly users between the website and social media and is a two-time Plutus Awards finalist who has been featured on Business Insider, Huffington Post, CNBC, Refinery29, LA Times, and more.",How I quit my 6-figure tech job to run my digital side hustles full-time.
"Planes are seen at Lisbon's airport, Portugal, December 11, 2020. REUTERS/Pedro NunesRegister now for FREE unlimited access to Reuters.comLISBON, Aug 1 (Reuters) - Portugal's civil aviation workers on Monday threatened to go on a three-day strike in late August, accusing the conglomerate that operates the country's biggest airports of failing to increase wages and provide better working conditions.The strike threat by Portugal's Civil Aviation Workers' Union (SINTAC) and the Commercial Aviation Staff Union (SQAC) is the latest in a series of walkouts at a time Europe's transport sector continues to struggle handling a return to travel after pandemic lockdowns. read more The strike is set to take place from Aug. 19 to Aug. 21, an usually busy summer weekend for travel, the unions said in a joint statement.Register now for FREE unlimited access to Reuters.comThey have accused airport operator ANA, which manages 10 airports in Portugal including in Lisbon, Porto and Faro, and French group Vinci (SGEF.PA), which controls ANA, of making multi-million euro net profits but not paying decent wages to their workers.The unions have also demanded that ANA and Vinci, which did not immediately reply to requests for comment, adopt ""urgent"" measures to guarantee workers feel safe while doing their jobs.""Only by doing this (strike) we will be able to achieve what the company has been lacking for a long time: social stability, respect for workers' rights and, fundamentally, for people,"" the unions said.The unions represent not only some cabin crew but also ground handling services and other companies related to the aviation sector.In neighbouring Spain, air traffic controllers warned in early July they were likely to call a strike if state-owned air navigation company Enaire failed to hire more people for the peak summer season.Ryanair (RYA.I) workers caused disruption at many Spanish airports in July, when they walked out for several days, mainly at weekends. They are expected to call for further strike action to press demands for higher pay and better working conditions. read more (This story corrects union name in paragraph 2)Register now for FREE unlimited access to Reuters.comReporting by Catarina Demony and Patrícia Vicente Rua;
Additional reporting by Corina Rodriguez and Emma Pinedo Gonzalez in Madrid;
Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.",Portugal's airport workers threaten to strike in late August.
"Politics August 1, 2022 / 9:13 AM / CBS News DOJ investigating Trump's actions on Jan. 6 Justice Department investigating Trump's actions leading up to Jan. 6 insurrection 06:56 Washington — Guy Reffitt, a Texas man convicted of bringing a handgun to the Capitol during the Jan. 6 attack, is set to be sentenced in federal court Monday, where prosecutors are seeking 15 years behind bars for his role in the attack.A member of the far-right militia group the Texas Three Percenters, Reffitt was found guilty in March of five criminal counts, including obstructing Congress' certification of President Biden's Electoral College win. He was the first defendant to stand trial on charges stemming from the attack. Reffitt's defense team is seeking a maximum of two years in prison.In seeking the 15-year prison sentence, prosecutors said Reffitt played a central role as part of the mob on Jan. 6, and intended ""to use his gun and police-style flexicuffs to forcibly drag legislators out of the building and take over Congress.""  Prosecutors said he also threatened his children when they wanted to report him to authorities.At his trial, Reffitt's 19-year-old son Jackson – who turned his father in to law enforcement – told the jury that he had learned of his father's membership in the mob when he saw his mother and sister watching news coverage of the events that day.  Prosecutors played tapes recorded by Jackson in which Guy Reffitt admitted that he had carried a gun outside the Capitol. ""You carried a weapon onto Capitol grounds,"" Jackson was heard saying. ""OK,"" Guy responded, adding later, ""I did it. I did bring a weapon on property that we own.""Emotions ran high in the courtroom when Jackson described the threat his dad had made against him and his sister, Peyton, when they tried to turn him in. ""If you turn me in you're a traitor, and traitors get shot,"" Jackson recalled his father saying. He said he was ""pretty sure"" his father had uttered those exact words. Peyton was originally slated to also testify against her father, but ended up not doing so.  This artist sketch depicts Guy Reffitt, left, joined by his lawyer William Welch in federal court in Washington, D.C., on Feb. 28, 2022. Dana Verkourteren / AP A former Capitol Police officer and a former Texas Three Percenter who traveled with Reffitt to Washington ahead of the attack also testified as government witnesses in the case. The former militia member, Rocky Hardie, reached a deal with the government to secure his cooperation, and testified that he and Reffitt took firearms on their trip to D.C.William Welch, Guy Reffitt's attorney at the time, called no witnesses, and Reffitt did not testify in his own defense. Since his conviction by a 12-person jury, five more defendants have been found guilty by juries. Five others have been convicted by judges at bench trials. One defendant, Matthew Martin, was acquitted of multiple misdemeanor counts by a judge. Ahead of Monday's sentencing, prosecutors said Reffitt played a ""central"" role in the riot, alleging his actions on Jan. 6 were just the beginning. ""He described Jan. 6 as the 'preface' of a book,"" the government said in its presentence memo. ""Reffitt also asserted that the Capitol insurrection was just the 'beginning' of 'a lot more.'""Prosecutors also argued in their pretrial filings that Reffitt's actions deserved a terrorism enhancement at sentencing. His actions, they alleged, were ""clearly"" motivated by a desire to ""influence or affect the conduct of government by intimidation or coercion, or to retaliate against government conduct,"" part of the criteria necessary to classify a crime as worthy of a terrorism enhancement.""Attacking the United States Capitol,"" prosecutors wrote, ""is a strong indication of intent to influence or retaliate against the government."" But Reffitt's new attorney, F. Clinton Broden, disagreed, arguing that Reffitt never actually entered the Capitol, never removed the handgun from his holster and ""never gave any indication he would actually harm his children.""""President Trump urged those in attendance to march on the Capitol, where he knew the electoral votes were being counted, and Mr. Reffitt did so,"" Reffitt's attorney asserted, adding later that Reffitt spent a lot of time on the computer and ""romanticized"" what might have happened on Jan. 6.  The government's recommendation of 15 years in prison, Broden wrote, was ""unprecedented"" and inexplicable. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Guy Reffitt, Texas man who brought gun to Capitol on Jan. 6, set to be sentenced."
"The U.K. government's recently announced bill to override certain aspects of the Northern Ireland protocol is casting a long shadow over the state of trading.Paul Faith | Afp | Getty ImagesDUBLIN — Amid acute political uncertainty and the upheaval of Brexit, the movement of goods on the island of Ireland has been transforming and seeing a significant boost.Since the U.K. formally exited the EU in January 2020, firms have shifted their posture, rethinking the roads they take and the ports they use.This has been driven by the Northern Ireland Protocol, an arrangement that allows the U.K. province to remain in the EU's single market but requires checks on goods arriving from the rest of the country (England, Scotland and Wales). The EU's single market seeks to guarantee the free movement of goods, capital, services, and labor within the bloc.The recent shift can be seen in the state of trade between the Republic of Ireland, which is part of the EU, and Northern Ireland.According to figures from Ireland's Central Statistics Office, in the first quarter of 2022 imports from Northern Ireland grew 34% year-on-year to 294 million euros ($310 million) and exports to the north grew 49% to 368 million euros.""What was clearly happening was that Irish buyers were moving away from GB [English, Scottish and Welsh] suppliers and continuing their trade with the U.K. by buying from Belfast rather than Birmingham,"" Stephen Kelly, chief executive of Manufacturing NI, which represents industry in the region, told CNBC.This has played out in the movement of goods like food, pharmaceuticals and manufacturing supplies over the two jurisdictions' land border, crossing road networks as well as on to ports for further travel.Ian Talbot, the chief executive of business group Chambers Ireland, told CNBC that the moves in trade are the result of much adapting by Irish and Northern Irish businesses after the tumult of Brexit.""There's no catastrophic failures anywhere. There's no port lying idle, there's no road idle. Trade is happening and in large numbers,"" he added, referring to the current arrangement facilitated by the protocol.However, he said that there is still a caveat to the variations in trading and movement of goods on the island of Ireland as much of this change happened amid the disruption of Covid-19 in 2020 and 2021.""With the impact of Covid and the lockdowns, it's very hard to unravel all that when you're comparing. What year do you compare it to?""Moving directionsSince early 2021, there has been a rapid increase in the number of cargo ships leaving Irish ports, such as Dublin and Rosslare in the southeast of the country, for ports in France and Spain to avoid the red tape of crossing through Britain.This marks another shift in the profile of freight movement in the island of Ireland with companies eschewing the traditional ""land bridge"" of the U.K., where trucks would cross the Irish Sea to the U.K. and travel across the country to the port of Dover and onward to France for continental deliveries.""Northern Irish companies are readily able to access those routes as well without having to drive to the east coast of Great Britain,"" Talbot said.But Belfast's port has felt reverberations too. Belfast Harbour saw its operating profits for 2021 rise 13% to £34 million, with over 25 million metric tons of cargo moving through the port.In its annual report, the harbor cited the grace period of implementing the Northern Ireland Protocol as a factor in the increased level of trading. But it acknowledged that ""risks and uncertainties"" remain with the ending of the grace period. Britain is yet to impose checks on goods arriving from Northern Ireland.  ""The ultimate derived demand effects on overall economic activity from Brexit and the NI Protocol, and their concomitant impact on trade, remain difficult to predict,"" the report said.Protocol billThe U.K. government's recently announced bill to override certain aspects of the Northern Ireland protocol is casting a long shadow over the state of trading and the movement of freight in and out of the island of Ireland. The EU has launched legal action over the plans to scrap parts of the deal, and the impending departure of U.K. Prime Minister Boris Johnson has also added more uncertainly — although potential successors Rishi Sunak and Liz Truss are likely to plough ahead with the plans.The bill, as proposed, would create green lanes and red lanes for goods moving to Northern Ireland or beyond. The green lane would be for goods going only to Northern Ireland and would not be subject to checks while the red lane would apply checks to goods ultimately going to the Republic of Ireland or elsewhere in the EU.Kelly said some elements of the bill, such as the green lane, are ""not offensive"" but there still remains doubt over how practical it will be to implement.That doubt will reintroduce worries for trade in Northern Ireland that are similar to those felt when a no-deal Brexit was a possibility.""We're potentially in a worse position than no-deal if the U.K. and the EU don't find an agreement in the coming weeks and months, it's not just no deal but it's no deal plus a trade war,"" he said.""That will be hugely damaging not only to Northern Ireland but to the whole of the U.K. and the EU, which will be a double hit for us.""This is coupled with the raising rate of inflation and the war in Ukraine, which has stymied supply chains in the broader European context.Kelly said that there are a lot of moving parts in trade but the unique situation of Northern Ireland will not change.""Northern Ireland will not physically move from being the border between the U.K. and the EU,"" he said. ""Our geography won't change.""",'There's no port lying idle': Brexit tumult is radically reshaping trade on the island of Ireland.
"Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Valvoline Inc (VVV.N) is selling its unit that makes lubricants, coolants and other automotive products to state-owned Saudi Aramco (2222.SE) for $2.65 billion in cash to sharpen focus on its retail services business.The deal announced on Monday builds on the company's plan to separate the two units, with the sale proceeds set to fuel an expansion of the vehicle service center business Valvoline operates across the United States.For Aramco, it deepens a bet on the long-term demand for petrochemicals. The oil giant has been expanding its presence in the sector, known as downstream, and bought petrochemical maker Saudi Basic Industries Corp in 2020.Register now for FREE unlimited access to Reuters.comValvoline shares rose nearly 4% in premarket trading, while Aramco was a tad higher.""Valvoline's Global Products business fits perfectly with Aramco's growth strategy for lubricants as it will leverage our global base oils production, contribute to R&D capabilities and strengthen existing relationships with OEMs (original equipment makers),"" said Mohammed Qahtani, senior executive at Aramco.The business brought $1.76 billion in revenue last year, accounting for nearly 60% of Valvoline's sales, and is forecast to grow 24% in the third quarter.Valvoline said it would also use the sale proceeds to accelerate share repurchases and reduce debt.Aramco will own the Valvoline brand for all product uses globally, though the Lexington, Kentucky-based company will continue to procure motor oil and related products from the lubricant business through a long-term supply deal.Register now for FREE unlimited access to Reuters.comReporting by Rithika Krishna in Bengaluru; Editing by Aditya SoniOur Standards: The Thomson Reuters Trust Principles.",Valvoline fuels retail drive with $2.65 bln lubricants unit sale to Saudi Aramco.
"Starbucks Workers United t-shirts hang outside while unionized workers strike for unfair labor practices outside a Starbucks location on 874 Commonwealth Avenue in the Brookline neighborhood of Boston, Massachusetts, US, on Tuesday, July 19, 2022.Scott Brauer | Bloomberg | Getty ImagesWith pay increases set to kick in at Starbucks cafes around the U.S. Monday, labor organizers are asking the coffee giant to extend the benefits to unionized stores as well without going through the bargaining process.The request comes after Starbucks announced in May that it would hike wages for workers and add other benefits such as credit card tipping by late this year. But the Seattle-based coffee chain said it wouldn't offer the enhanced benefits to workers at unionized stores because it needs to go through bargaining to make such changes.In a letter to Starbucks CEO Howard Schultz obtained by CNBC, Workers United said the company can legally offer benefits to employees at unionized stores without bargaining, as long as the union agrees. The letter notes other companywide benefits announced in recent months, including faster sick time accrual and medical travel reimbursement for employees seeking abortions or gender-reaffirming care.""Workers United refuses to stand by while Starbucks cynically promises new benefits only to non-unionized workers and withholds them from our members,"" states the letter from Lynne Fox, president of Workers United, to Schultz last month.The letter notes the union is not waiving any other bargaining obligation that Starbucks has under federal law.About 200 Starbucks stores have unionized so far, while 40 have voted not to unionize, according to the National Labor Relations Board. Starbucks has roughly 9,000 locations in the U.S.When contacted about the union's request, Starbucks pointed to a factsheet on its website that states, ""The law is clear: once a store unionizes, no changes to benefits are allowed without good faith collective bargaining.""The company's site says workers have access to Starbucks benefits that were in place when the union petition was filed, but that any subsequent changes to wages, benefits and working conditions have to be bargained.Labor lawyers say the case could wind up before an administrative law judge at the National Labor Relations Board.""Once a union has been certified, an employer is obligated to bargain with that union before making any changes to terms and conditions of employment,"" said Stephen Holroyd, lawyer at Jennings Sigmond who has represented unions and worked for the NLRB.But he said the union greenlighting the benefits without bargaining changes the situation, and that it could argue Starbucks is withholding the benefits because of its organizing campaign.Daniel Sobol, a lawyer at Stevens & Lee who has represented companies in union cases, said the NLRB and federal courts have disagreed on the issue.""If [ benefit enhancements are] done solely to chill unionizing, that could be an issue,"" he said. But with employers adjusting wages in the inflationary environment, he said Starbucks might not be obligated to give the raises to unionized employees.Gabe Frumkin, an attorney for Starbucks Workers United, said it's clear the benefits are being offered in response to the union drive. He said Workers United has filed two charges tied to Starbucks' wage and benefits announcements for non-unionized stores and is considering further options.Catherine Creighton, director of Cornell University's Industrial and Labor Relations school in Buffalo, New York, said the law requires companies to give union notice of a new benefit and the opportunity to bargain over it. But she said that, ""if the union says they have no objection, then the employer can absolutely give them that benefit.""The pay hikes going into effect this week include a raise of at least 5%, or a move to 5% above market rate, whichever is higher, for employees with at least two years experience. Employees with more than five years of experience get a raise of at least 7%, or move to 10% above market rate, whichever is higher. The increases are in addition to a previously announced hike kicking in this month that gets wages to a floor of $15 an hour nationally. That increase is available to stores that did not start organizing before it was announced.Starbucks has said it plans to spend $1 billion on wage hikes, improved training, and store innovation during its fiscal 2022. When Schultz returned to his role as CEO for a third time, he suspended the company's buyback program to invest in workers and stores.","Starbucks union asks coffee giant to extend pay hikes, benefits to unionized stores."
"A sign marks a PerkinElmer facility in Boston, Massachusetts, U.S., May 15, 2020. REUTERS/Brian Snyder/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - PerkinElmer Inc (PKI.N) said it will sell some of its businesses along with the brand name to private equity firm New Mountain Capital for up to $2.45 billion in cash, as it looks to focus on its life sciences and diagnostics businesses under a new name.Shares of PerkinElmer were up 4% premarket on Monday after the company said it will receive $2.30 billion on closing of the transaction, which will involve the sale of the applied, food and enterprise services businesses.The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals.Register now for FREE unlimited access to Reuters.comThe remaining amount will be contingent on the exit valuation the private equity firm gets when it sells some of the assets related to the businesses it acquires.The divested businesses will continue to use the PerkinElmer brand, while the life sciences and diagnostics businesses that remain will be run by the existing management under a new name and stock ticker that will be announced later, PerkinElmer said.""The divestiture on (the) surface improves the growth profile of the company,"" said Evercore analyst Vijay Kumar in a note.Register now for FREE unlimited access to Reuters.comReporting by Leroy Leo in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.",PerkinElmer to divest some businesses in $2.45 bln cash deal.
"U.S. August 1, 2022 / 10:15 AM / CBS/AP The death toll in Kentucky climbed to 30 from last week's massive flooding, Gov. Andy Beshear announced Monday. ""That's going to grow,"" Beshear said during a briefing.The governor also said hundreds of people were unaccounted for. He said a report over the weekend of a smaller number was only for one state police post.""We just don't have a firm grasp on that,"" the governor said. ""I wish we did."" As residents in Appalachia tried to slowly piece their lives back together, the governor said severe storms could hit affected areas Monday.Still, stories of survival continue to emerge. A 17-year-old girl whose home in Whitesburg was flooded Thursday put her dog in a plastic container and swam 70 yards to safety on a neighbor's roof. Chloe Adams waited hours until daylight before a relative in a kayak arrived and moved them to safety, first taking her dog, Sandy, and then the teenager. ""My daughter is safe and whole tonight,"" her father, Terry Adams, said in a Facebook post. ""We lost everything today … everything except what matters most.""This is a developing story and will be updated. Water-damaged items sit outside a house in Squabble Creek, Kentucky, following historic flooding in eastern Kentucky, July 31, 2022. Seth Herald/AFP via Getty Images In: Kentucky flood",Kentucky flooding death toll climbs to 30 as governor says hundreds of people are still unaccounted for.
"Supporters of Iraqi populist leader Moqtada al-Sadr gather for a sit-in at the parliament building, amid political crisis in Baghdad, Iraq August 1, 2022. REUTERS/Khalid Al-MousilyRegister now for FREE unlimited access to Reuters.comBAGHDAD, Aug 1 (Reuters) - Shi’ite Muslim political and paramilitary groups are escalating a tense political standoff which many Iraqis worry could lead to new conflict in the country.Iraq’s longest post-election political deadlock has given way to demonstrations on both sides of a Shi’ite divide, led by the mercurial cleric Moqtada al-Sadr on one side and a collection of mostly Iran-aligned groups on the other, known together as the Coordination Framework.These are the main players:Register now for FREE unlimited access to Reuters.comMOQTADA AL-SADR AND THE SADRIST MOVEMENTSadr led an armed insurgency against the U.S. occupation of Iraq after American and international troops toppled Sunni Muslim dictator Saddam Hussein. He inherited a mass following of mostly impoverished Shi’ites from his cleric father who opposed Saddam and was killed for it.Sadr opposes all foreign interference, especially from Iran, and accuses his Shi’ite rivals of corruption. In addition to his millions of followers, he has a thousands-strong militia and wields enormous power within the Iraqi state, where his loyalists control money and power.Sadr's huge number of supporters enable him to act as a spoiler in Iraq's politics. Supporters of Sadr erected tents and prepared for an open-ended sit-in at Iraq's parliament on Sunday, fueling instability.THE COORDINATION FRAMEWORK:NOURI AL-MALIKIA former prime minister and leader of the Dawa party which dominated successive Iraqi governments after 2003. Maliki has close ties with Iran, which supported Dawa’s opposition to Saddam during the 1980s Iran-Iraq war. He has links with armed militias, deep state power and is Sadr’s fiercest opponent.HADI AL-AMIRILeader of the Badr Organisation, which started as a Shi’ite paramilitary group supported by Iran in the 1980s. Badr makes up a big part of the Popular Mobilisation Forces, the heavily armed Iraqi state paramilitary organization that contains dozens of Iran-backed factions. Amiri is a key leader in the Coordination Framework.QAIS AL-KHAZALIThe former insurgent who fought as part of Sadr’s Mehdi Army against U.S. troops split off to form his own militia, Asaib Ahl al-Haq, which became a military-political group and holds a number of seats in parliament. Khazali’s group is heavily armed and actively involved in social media groups which distribute the messaging of Iran-backed paramilitary factions.HAIDER AL-ABADI AND AMMAR AL-HAKIMTwo moderate Shi’ite politicians who are part of the Coordination Framework but do not openly support any particular armed factions. Hakim is a cleric whose uncle Ahmed Baqir al-Hakim led the Islamic Supreme Council of Iraq, a party founded in Iran that ran Iraq’s interior ministry after the U.S. invasion.Abadi, a former prime minister, is a senior leader in the Dawa party who led Iraq to its defeat of the Sunni extremist Islamic State group in 2017.PARAMILITARY GROUPS:KATAIB HEZBOLLAHThis paramilitary group is one of the elite factions closest to Iran. It fielded a political party for the first time in elections last year, and won several seats in parliament. It is widely accused of being behind many attacks on U.S. military and diplomatic targets in Iraq, but does not openly confirm or deny involvement.It has no publicly announced leadership structure, but its senior member Abdul Aziz al-Mohammedawi is military chief of the PMF.Other heavily armed militia include Amiri's Badr Organisation, Khazali's Asaib Ahl al-Haq, Sadr's Peace Brigades, and a number of other groups mostly aligned with Iran.Register now for FREE unlimited access to Reuters.comReporting by John Davison
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Factbox: Iraq’s competing Shi’ite groups.
"Inflation has been causing economic hardship for workers across all income levels.As of June, 61% of Americans — roughly 157 million adults — lived paycheck to paycheck, according to a new LendingClub report. That's up from 58% who reported living paycheck to paycheck in May. A year ago, the number of adults who felt stretched too thin was 55%.Even top earners have been struggling to make ends meet, the report found. Of those earning $200,000 or more, 36% reported living paycheck to paycheck, a jump from the previous month. (Another recent survey, from consulting firm Willis Towers Watson, estimated 36% of those earning $100,000 or more said they were living paycheck to paycheck.)More from Personal Finance:What a recession could mean for youBest money moves after the Fed's interest rate hikesNearly half of all Americans are falling deeper in debtInflation has been an ongoing problemAnother key inflation gauge, the Personal Consumption Expenditures Price Index, which measures the price change in goods and services consumed by all households, also jumped 6.8%, the biggest 12-month move since 1982.Taken together, Americans are shelling out more to cover their monthly expenses, making it increasingly difficult to make ends meet. As a result, they're dipping into their cash reserves and nearly half are falling deeper in debt.Among all consumers, average savings dropped to $10,757 in June from $11,274 in May, LendingClub also found.","Unrelenting inflation is driving up costs, leaving more Americans living paycheck to paycheck."
"Crime August 1, 2022 / 7:04 AM / AP A judge on Friday acquitted a southwestern Missouri woman on murder and two other felony charges in the death of the autistic teenage daughter that she gave up for adoption as a baby.Greene County Circuit Court Judge Calvin Holden found Rebecca Ruud not guilty of first- and second-degree murder, tampering with evidence and felony abuse or neglect of a child but found her guilty on the remaining charge, illegally abandoning a corpse. The charges stemmed from the July 2017 death of 16-year-old Savannah Leckie, whose remains were found in a burn pit on Ruud's remote property near the Arkansas-Missouri border. Rebecca Ruud (left) and Savannah Leckie CBS News Ruud is scheduled to be sentenced on the last charge Sept. 15 by Holden, who heard the case instead of a jury in Springfield after a change of venue from Ozark County to the southwest. Ruud could get up to four years in prison. Prosecutors described Savannah as the victim of severe abuse after she left her adoptive family in Minnesota and moved to Missouri to be with her biological mother. Ruud said the girl disappeared after running away because she blamed herself for starting a fire on the family's property.Attorney General Eric Schmitt's office declined to comment about the judge's decision. A public defender representing Ruud did not immediately respond to a phone message seeking comment. Ruud lived outside Theodosia, a village about 250 people roughly 45 miles (72 kilometers) east of Branson, a popular vacation destination. According to a probable cause statement filed along with the charges against Ruud in 2017, the girl's adoptive mother asked Ruud to take her because Savannah did not get along with her adoptive mother's fiancé.Authorities said that after the girl moved to Missouri, she was home-schooled and had ""almost no social contacts.""Ruud reported Savannah missing two days after the fire on the family's remote property, authorities said. Several searches turned up human teeth, a meat grinder, a knife and 26 bottles of lye, which can be used to accelerate the breakdown of bodily tissue, according to court documents. Human bone fragments were found in a field about 400 yards (365 meters) from Ruud's home, about two weeks after Savannah's reported disappearance.An ex-boyfriend of Ruud's told investigators that he had seen her discipline Savannah by forcing the teen to crawl through a hog pen and making her bathe in a pond, authorities said. Ruud acknowledged that this was true and told investigators that when Savannah cut her arm ""in a suicidal gesture,"" she forced the girl to scrub the wound daily with alcohol and salt as punishment. In: Missouri Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Missouri woman acquitted of murder in 2017 death of autistic teen daughter she gave up for adoption as a baby.
"Skip to main contentSkip to floating mini videoA Burger King restaurant is seen on a main street in Sao Paulo, Brazil October 20, 2017. REUTERS/Paulo WhitakerRegister now for FREE unlimited access to Reuters.comSAO PAULO, Aug 1 (Reuters) - The franchise holder of the Burger King brand in Brazil, Zamp SA (BKBR3.SA), said on Monday that Abu Dhabi state investor Mubadala Capital LLC has launched a tender offer to acquire control of the company.According to a securities filing, Mubadala has offered 7.55 reais ($1.47) per share to buy 45.15% of Zamp, which would take its stake in the company to 50.1%. Mubadala's bid implies a 21% premium over Friday's closing price of 6.22 reais.Zamp was previously known as BK Brasil Operacao e Assessoria a Restaurantes S.A. and is the master franchisee of the 850 Burger King stores in Brazil.($1 = 5.1505 reais)Register now for FREE unlimited access to Reuters.comReporting by Gabriel Araujo; Editing by Louise Heavens and Jan HarveyOur Standards: The Thomson Reuters Trust Principles.Permira nears $1.3 billion deal to acquire ReorgBuyout firm Permira is nearing a deal to acquire Reorg Research Inc, a financial data vendor specializing in debt restructuring, for more than $1.3 billion, including debt, according to people familiar with the matter.David Carnevali, David FrenchJuly 29, 2022",Mubadala offers 21% premium to take over Brazil's Burger King brand owner.
"Ukrainian Defence Minister Oleksii Reznikov waits for the start of the Ukraine Defense Consultative Group group meeting hosted by U.S. Secretary of Defense Lloyd Austin, as Russia's attack on Ukraine continues, at U.S. Airbase in Ramstein, Germany, April 26, 2022. REUTERS/Kai PfaffenbachRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Ukraine has received more German and U.S.-made multiple rocket launcher systems, part of a series of deliveries of the high-precision heavy weapons promised by its allies, its defence minister said on Monday.The government in Kyiv has repeatedly pleaded with the West to send more long-range artillery as it tries to turn the tide on Russia's Feb. 24 invasion and attack Russian supply lines and ammo dumps.Moscow has accused the West of dragging out the conflict by giving Ukraine more arms, and said the supply of longer-range weapons justifies Russia's attempts to expand control over more Ukrainian territory for its own protection.Register now for FREE unlimited access to Reuters.comUkraine has received four U.S.-made high mobility artillery rocket systems (HIMARS), Defence Minister Oleksii Reznikov said.""I’m grateful to @POTUS and @SecDef Lloyd Austin III and the (U.S.) people for strengthening of #UAarmy,"" Reznikov wrote on Twitter.HIMARS have a longer range and are more precise than Ukraine's Soviet-era rocket artillery, allowing Ukrainian forces to hit Russian targets that were previously unreachable.According to estimates by experts, Ukraine already operates up to a dozen HIMARS systems.
The Ukrainian military has also received three MARS II MLRS, the German version of the U.S.-made M270 Multiple Launch Rocket System. The delivery was announced by Christina Lambrecht, the German defence minister on July 26.""The third brother in the Long Hand family - MLRS MARS II from Germany - has arrived in Ukraine,"" Reznikov wrote on Twitter.According to specifications by its manufacturer Kraus-Maffei Wegmann(600579.SS), MLRS MARS II can hit targets at a range of up to 70 km (43 miles), depending on the type of ammunition it is using.It is designed to destroy troops and equipment, air defences, command posts and communications and to lay minefields.Ukraine has so far received German Panzerhaubitze 2000 self-propelled howitzers. Lambrecht on July 26 also announced the delivery of five Gepard anti-aircraft systems.Kyiv has previously said it needs 1,000 howitzers, 500 tanks and 1,000 drones among other heavy weapons to repel Russian troops.Other countries that have supplied Ukraine with artillery systems include the United States, Britain, France, Norway and Poland.Russia has described its actions in Ukraine as a ""special operation"" to demilitarise its neighbour. Ukraine and the West have dismissed this as a baseless pretext for war.Register now for FREE unlimited access to Reuters.comReporting by Aleksandar Vasovic; Editing by Tom Balmforth and Andrew HeavensOur Standards: The Thomson Reuters Trust Principles.","Ukraine gets more U.S., German rocket launcher systems - minister."
"An activist stick posters on a fence during a protest to call for a stronger response by the government to the monkeypox crisis, outside the Health Secretary building, in Mexico City, Mexico, Mexico, July 26, 2022. REUTERS/Edgard GarridoRegister now for FREE unlimited access to Reuters.comMEXICO CITY, Aug 1 (Reuters) - Francisco's lesions started after returning home to Mexico City from California in late June: First, two spots on his buttocks. Then, a week later, lesions all over his body, his mouth so full of sores that he could barely talk or drink water.""The pain was indescribable, catastrophic,"" said Francisco, 44, who asked Reuters to conceal his real name.Francisco had one of at least 59 monkeypox infections confirmed in Mexico since May, which experts believe could undercount the true number.Register now for FREE unlimited access to Reuters.comIn Latin America, Mexico ranks behind Brazil and Peru for confirmed cases of the viral disease, which has primarily spread among gay and bisexual men like Francisco.The World Health Organization declared monkeypox a global health emergency on July 23, prompting greater attention from regional officials. However, some doctors and activists in Latin America's two largest countries told Reuters the response has been too tepid.""We are not seeing the necessary measures taken, nor the necessary importance given to monkeypox,"" said Dr. Sergio Montalvo, a sexual health specialist in Mexico City.Doctors like Montalvo fear authorities have not learned lessons from the COVID-19 pandemic, which has strained health systems and left governments strapped for cash.The story is similar in Brazil, where over 970 infections represent over two-thirds of the region's total, per data from the Pan American Health Organization (PAHO).Brazil's Health Ministry announced a contingency plan on July 28, over a month after its first case and a day before reporting the first monkeypox death outside Africa in the current outbreak. read more ""We were already receiving news about the outbreak in Europe and the United States, but the government didn't do anything,"" said Vinicius Borges, a infectious disease specialist in Sao Paulo. He said pain from monkeypox lesions has had ""serious effects"" on his patients.Neither Mexico nor Brazil's health ministries responded to multiple requests for an interview.Following the WHO declaration, Mexico's Health Ministry launched a website about monkeypox and its second advisory with information about the virus - its first since the country confirmed a case in May.""In these two months, we could have already made significant progress,"" said Ricardo Baruch, an LGBT health researcher who helped organize a protest in Mexico City last week to ask for greater efforts to target prevention to men who have sex with men (MSM).A study in the New England Journal of Medicine found that 98% of infections in the ongoing outbreak outside Africa are among gay and bisexual men.Mexican health authorities have avoided emphasizing the risks to this group.""They don't want to create stigma, but if they don't talk about it, the policies aren't going to be focused on us,"" said Baruch.Microbiologist Natalia Pasternak also expressed concern about Brazil's messaging.""There hasn't been an effort from the federal government to raise awareness in the population as to how you can get monkeypox, how it transmits from person to person, how you recognize the lesions in the skin and how it can transmit by close or sexual contact,"" Pasternak said.On July 25, Health Minister Marcelo Queiroga said Brazil's government had ""done its homework"" to prepare, pointing to four labs doing testing.But ""it will take some time to build testing capacity in Brazil,"" said Pasternak, a member of Sao Paulo state's monkeypox advisory board. ""We don't really see the intention of the health ministry to do this planning.""In one possible sign of progress, PAHO said July 27 that ten countries in the region had expressed interest in acquiring a vaccine.Dr. Andrea Vicari, PAHO's director of infectious threat management said it was not too late to curb monkeypox's spread in the Americas.""Even if we don't have vaccines, we have other control measures. If we implement these well, we will be able to accomplish our objectives to reduce transmission.""Register now for FREE unlimited access to Reuters.comReporting and Writing by Brendan O'Boyle; Additional Reporting by Carolina Pulice
Editing by Christian Plumb and Nick ZieminskiOur Standards: The Thomson Reuters Trust Principles.","'The government didn't do anything': Mexican, Brazilian monkeypox responses draw concern."
"World August 1, 2022 / 7:22 AM / CBS/AP More than 1,000 years after his death in what is now Poland, a European king whose nickname lives on through wireless technology is at the center of an archaeological dispute.Chronicles from the Middle Ages say King Harald ""Bluetooth"" Gormsson of Denmark acquired his nickname courtesy of a tooth, probably dead, that looked bluish. One chronicle from the time also says the Viking king was buried in Roskilde, in Denmark, in the late 10th century. The Roman Catholic church where it is believed that Danish King Harald Gormsson was buried, in Wiejkowo, Poland, Saturday, July 30, 2022.  Monika Scislowska / AP But a Swedish archaeologist and a Polish researcher recently claimed in separate publications that they have pinpointed his most probable burial site in the village of Wiejkowo, in an area of northwestern Poland that had ties to the Vikings in Harald's times. Marek Kryda, author of the book ""Viking Poland,"" told The Associated Press that a ""pagan mound"" which he claims he has located beneath Wiejkowo's 19th-century Roman Catholic church probably holds the king's remains. Kryda said geological satellite images available on a Polish government portal revealed a rotund shape that looked like a Viking burial mound.But Swedish archaeologist Sven Rosborn, says Kryda is wrong because Harald, who converted from paganism to Christianity and founded churches in the area, must have received an appropriate grave somewhere in the churchyard. Wiejkowo's Church of The Immaculate Conception of the Blessed Virgin Mary stands atop a small round knoll. Historians at the Danish National Museum in Copenhagen say they are familiar with the ""suggestion"" that Wiejkowo is Harald's burial place.Rosborn detailed his research in the 2021 book ""The Viking King's Golden Treasure"" and Kryda challenged some of the Swede's findings in his own book published this year.Harald, who died in 985, probably in Jomsborg - which is believed to be the Polish town of Wolin now - was one of the last Viking kings to rule over what is now Denmark, northern Germany, and parts of Sweden and Norway. He spread Christianity in his kingdom.Swedish telecommunications company Ericsson named its Bluetooth wireless link technology after the king, reflecting how he united much of Scandinavia during his lifetime. The logo for the technology is designed from the Scandinavian runic letters for the king's initials, HB. Rosborn, the former director of Sweden's Malmo City Museum, was spurred on his quest in 2014 when an 11-year-old girl sought his opinion about a small, soiled coin-like object with old-looking text that had been in her family's possession for decades.Experts have determined that the cast gold disc that sparked Maja Sielski's curiosity dated from the 10th century. The Latin inscription on what is now known as the ""Curmsun disc"" says: ""Harald Gormsson (Curmsun in Latin) king of Danes, Scania, Jomsborg, town Aldinburg."" The 10th century golden Curmsun disc with the name of Danish King Harald ""Bluetooth"" Gormsson (Curmsun in Latin) on it, coming from a tomb at the Roman Catholic church in Wiejkowo, Poland, photographed in Malmo, Sweden, in 2015.  Sven Rosborn / AP Sielski's family, who moved to Sweden from Poland in 1986, said the disc came from a trove found in 1841 in a tomb underneath the Wiejkowo church, which replaced a medieval chapel.The Sielski family came into the possession of the disc, along with the Wiejkowo parish archives that contained medieval parchment chronicles in Latin, in 1945 as the former German area was becoming part of Poland as a result of World War II.A family member who knew Latin understood the value of the chronicles - which dated as far back as the 10th century - and translated some of them into Polish. They mention Harald, another fact linking the Wiejkowo church to him.The nearby Baltic Sea island and town of Wolin cultivates the region's Viking history: it has a runic stone in honor of Harald Bluetooth and holds annual festivals of Slavs and Vikings.Kryda says the Curmsun disc is ""phenomenal"" with its meaningful inscription and insists that it would be worth it to examine Wiejkowo as Harald's burial place, but there are no current plans for any excavations. In 2018, a treasure trove that belonged to the king was unearthed on a German island by a 13-year-old and an amateur archaeologist. The artifacts included necklaces, pearls, a Thor's hammer, rings and up to 600 chipped coins, including more than 100 that date to Bluetooth's era. Pieces of the silver treasure that belonged to the legendary Danish King Harald Bluetooth, who brought Christianity to Denmark and whose name inspired modern Bluetooth technology. Stefan Sauer/AFP/Getty Images In: poland Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Over 1,000 years after his death, king who gave name to Bluetooth at center of archaeological debate."
"Register now for FREE unlimited access to Reuters.comSEOUL, Aug 1 (Reuters) - K-pop boy band BTS might still be able to perform overseas while serving in the military, South Korea's defence minister said on Monday, as the country debates shortening mandatory military service for K-pop stars to three weeks from about two years.The issue is coming sharply into focus with the oldest member of band, Jin, turning 30 next year. Under a 2019 revision of the law, globally recognised K-pop stars were allowed to put off their service until 30.Military service is hugely controversial in South Korea where all able-bodied men aged between 18 and 28 must fulfil their duties as part of efforts to defend against nuclear-armed North Korea.Register now for FREE unlimited access to Reuters.comOver the years, some categories have won exemptions - either allowed to put off service or to do shorter service - including Olympics and Asian Games medal winners and classical musicians and dancers who win top prizes at certain competitions.Parliament is now debating a bill that would shorten military service for K-pop stars.Defence Minister Lee Jong-sup, speaking at the parliamentary session, said that by allowing BTS to continue performing, the military could serve national interests without affecting the already shrinking pool of personnel resources due to low birth rates.BTS' management, Big Hit, did not respond to a request for comment.BTS poses at the carpet during arrivals ahead of iHeartRadio Jingle Ball concert at The Forum, in Inglewood, California, U.S., December 3, 2021. REUTERS/Mario Anzuoni""Even if they join the military, there would be a way to give them a chance to practise and perform together if there are scheduled concerts abroad,"" Lee said.""As many people highly value (artists serving) in the military, that may help boost their popularity even more.""The seven-member band announced a break in June from group musical activities to pursue solo projects, pleading exhaustion. read more In April, a Big Hit official said some members were having a ""hard time"" because of uncertainties over the parliament debate, calling for a decision.Since their 2013 debut, BTS have became a worldwide sensation with their upbeat hits and social campaigns aimed at empowering youth.BTS became the first Asian band to win artist of the year at the American Music Awards last year, and they met U.S. President Joe Biden at the White House in May to discuss hate crimes targeting Asians.A South Korean think tank estimated in 2018 that BTS would bring an economic benefit totalling 56 trillion won ($43 billion) between 2014 and 2023.(This story refiles to fix typo in first paragraph)Register now for FREE unlimited access to Reuters.comReporting by Hyonhee Shin; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.",K-pop's BTS may still be able to perform while doing military service - minister.
"Birds fly past the logo of India's state-owned natural gas utility GAIL (India) Ltd installed on its corporate office building in New Delhi, India, April 26, 2018. REUTERS/Adnan AbidiRegister now for FREE unlimited access to Reuters.comNEW DELHI, Aug 1 (Reuters) - India's largest gas distributor GAIL (India) Ltd (GAIL.NS) has started gas rationing, cutting supplies to fertiliser and industrial clients after imports were hit under its deal with a former unit of Russian energy giant Gazprom, two sources familiar with the matter said.Lower gas supplies will affect impact India's urea production, and a sustained cut would lift imports of the soil nutrient, a fertiliser industry source aware of the cuts said.Neither GAIL nor India's fertiliser ministry responded to Reuters' requests for comments.Register now for FREE unlimited access to Reuters.comGazprom Marketing and Trading Singapore (GMTS), now a subsidiary of Gazprom Germania, has failed to deliver some liquefied natural gas (LNG) cargoes to GAIL and has said it may not be able to meet supplies under their long-term deal. read more GAIL, which imports and distributes gas and also operates India's largest gas pipeline network, has cut supplies to some fertiliser plants by 10% and restricted gas sales to industrial clients to the lower tolerance limit of 10%-20%, the sources said.The state-run company is operating its petrochemical complex at Pata in northern India at about 60% capacity to save gas for other clients, they said. GAIL has advanced maintenance shutdown of some units at the 810,000 tonne-a-year plant, one of the sources added.An industrial consumer said GAIL has restricted its gas quantities to a 'take or pay level', the lowest level at which it will not attract a penalty from the customer.GAIL's measures will cut gas supplies to clients by about 6.5 million cubic meters a day, while imports under the Gazprom deal were averaging about 8.5 mcmd, a separate source said.""We don't know where else we can cut supplies... Indian customers cannot afford costly spot gas,"" the second source said.This source said that GAIL has written repeatedly to Gazprom Germania about supplies under the deal.Last month, GAIL bought a spot LNG cargo at $38 per million British thermal units (mmBtu) for August loading, well above the level at which it was getting gas under its deal with Gazprom, at about $12-$14 per mmBtu.GAIL agreed a 20-year deal with Russia's Gazprom in 2012 for annual purchases of an average 2.5 million tonnes of LNG. Supplies under the contract began in 2018.GMTS had signed the deal on behalf of Gazprom. At the time, Gazprom Germania was a unit of the Russian state firm.However, following Western sanctions against Russia over its invasion of Ukraine, Gazprom gave up ownership of Gazprom Germania in early April without explanation and placed parts of it under Russian sanctions.Register now for FREE unlimited access to Reuters.comReporting by Nidhi Verma; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.",India's GAIL rationing gas as former Gazporm unit cuts supplies.
"Celsius Energy DrinksCourtesy: Celsius HoldingsPepsiCo announced Monday a $550 million investment in energy drink maker Celsius Holdings as part of a long-term distribution deal with the smaller company.Shares of Celsius rose 9% in premarket trading on the news, bringing its market value to $6.7 billion. Celsius is expecting to gain more shelf space in existing retailers and expand more into independent stores, like gas stations. Pepsi will start assisting with the distribution starting Monday. Pepsi's investment in Celsius translates to a minority stake of roughly 8.5% in the company. The food and beverage giant will also nominate a director to serve on Celsius's board.Celsius, which was founded in 2005, has reported explosive growth for its energy drinks during the pandemic. In the first quarter, its U.S. revenue soared 217% to $123.5 million. The company pitches its beverages as ""healthy"" energy drinks, targeting younger consumers who are active and exercise.For Pepsi, the deal helps strengthen its ties to energy drinks. The category is one of the fastest growing beverage segments outside of alcohol, and Pepsi has been doubling down on energy in recent years as soda consumption falls. In early 2020, it bought legacy energy drink maker Rockstar for $3.85 billion with a goal of revitalizing its sales. Celsius recently overtook the brand as the fourth most popular energy drink in the U.S.Pepsi had previously bet on another fast-growing upstart, Vital Pharmaceuticals' Bang Energy, through an exclusive distribution agreement. But the relationship quickly soured, resulting in a legal battle that ended in Pepsi's favor. In June, the two companies parted ways earlier than expected. The breakup fueled speculation that Pepsi would seek to acquire Monster Beverage or Celsius to increase its market share in the energy drink category.",PepsiCo takes $550 million stake in energy drink maker Celsius.
"An Emirates passenger plane comes in to land at London Heathrow airport, Britain, May 21, 2020. REUTERS/Toby Melville/File PhotoRegister now for FREE unlimited access to Reuters.comLAGOS, Aug 1 (Reuters) - Dubai's Emirates plans to reduce flights to Nigeria this month due to troubles repatriating revenue from Africa's most populous nation, according to a letter sent to the government and seen by Reuters.Emirates plans to cut the number of flights to Lagos to seven from 11 by mid-August, the letter said, adding it had $85 million stuck in the country as of July, a figure that had been rising by $10 million per month.Industry observers say more airlines could follow suit if the central bank, which restricts access to foreign currency to tackle a severe dollar shortage, did not address airlines' issues.Register now for FREE unlimited access to Reuters.com""We have no choice but to take this action, to mitigate the continued losses Emirates is experiencing as a result of funds being blocked in Nigeria,"" it said in a letter to aviation minister Hadi Sirika dated July 22.A spokesperson for the aviation ministry did not reply to a request for comment.Emirates, in an emailed statement, said trouble repatriating funds was impacting its commercial viability in Nigeria and that efforts to solve the problem had been met with limited success.Emirates did not comment directly on the letter and said it hoped to continue a full schedule.Last week, the naira's black market value versus the dollar dropped to a record low. The central bank said it was worried about the naira's value. read more Nigeria, which gets roughly 90% of its foreign exchange from oil, is struggling to produce due to pipeline theft and years of underinvestment. read more Amid similar foreign exchange restrictions in 2016, several airlines reduced flights and carriers Iberia and United Airlines stopped flying to Nigeria altogether. The latter re-launched a Nigerian service last year, but Iberia has yet to return.The International Air Transport Association said in June Nigeria was withholding hundreds of millions in revenue that international carriers operating in the country had earned. read more Register now for FREE unlimited access to Reuters.comAdditional reporting by Camillus Eboh in Abuja and Maha El Dahan in Dubai
Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.",Emirates plans to reduce Nigeria service due to trapped revenue - letter.
"Buses travel past the Bank of England (BoE) building, London, Britain, December 16, 2021. REUTERS/Toby Melville/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryhttps://tmsnrt.rs/3cVDaJcLONDON, Aug 1 (Reuters) - The Bank of England is now expected to lift borrowing costs by a bigger 50 basis points to 1.75% on Thursday as it battles soaring inflation, according to a Reuters poll taken over the past week after several economists changed their minds.Over 70% of the 65 respondents to the July 27-August 1 poll expected the half-point increase from the Monetary Policy Committee compared to a poll published just last week in which 54% surveyed predicted a more modest rise of 25 basis points. read more The BoE has never raised Bank Rate by a half point since it was made independent in 1997.Register now for FREE unlimited access to Reuters.comAmongst the gilt-edged market makers - primary dealers in UK government bonds - 11 expected the larger increase while five said 25 basis points. Of the 27 common contributors from last week's poll who had predicted 25 basis points, 11 changed to 50.Britain's central bank was the first amongst its major peers to raise interest rates back in December, but its peers have been playing catch-up. The U.S. Federal Reserve raised rates by 75 basis points for a second consecutive meeting last week and the Bank of Canada last hiked by 100 basis points.BoE Governor Andrew Bailey has recently said a 50 basis point increase is on the table for this meeting and markets are pricing in a near 90% chance of such a move.""We expect the MPC to quicken the pace of tightening to 50 basis points. We think the Bank needs to demonstrate resolution in the face of ever-increasing inflationary risks or it could lose control of the narrative,"" said Fabrice Montagne at Barclays.Inflation is running at a four-decade high of 9.4%, largely due to spiralling energy costs and global supply chain disruptions. The cost of living crisis is pushing up the chance of a recession. read more Last week's poll gave a median 55% chance of a recession in the coming year, up sharply from 35% in a June poll. But that was based on a small sample, with several declining to answer as they thought the recession was already here.Earlier on Monday, a private business survey showed British manufacturing output and new orders declined in July at the fastest rate since May 2020, as factories across Europe struggled with rising costs and slowing demand. read more Register now for FREE unlimited access to Reuters.comReporting by Jonathan Cable; Polling by Milounee Purohit and Vijayalakshmi Srinivasan; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Bank of England to get more aggressive with 50 bps hike on Thursday.
"Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 27, 2022. REUTERS/Brendan McDermidRegister now for FREE unlimited access to Reuters.comSummaryCompaniesISM manufacturing activity data due at 10 a.m. ETEVO Payments surges on $4 bln deal from Global PaymentsFutures down: Dow 0.24%, S&P 0.36%, Nasdaq 0.25%Aug 1 (Reuters) - U.S. stock indexes were set to open lower on Monday following a strong rally last week on earnings optimism, with investors awaiting a factory activity data after similar surveys from China and the Eurozone fueled recession worries.The S&P 500 and the Nasdaq posted their biggest monthly percentage gains since 2020 in July on stronger-than-expected second-quarter results and on hopes the Federal Reserve need not to be as aggressive with interest rate hikes as some had feared.The upbeat mood faded on Monday as surveys showed factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 curbs slowed production. read more Register now for FREE unlimited access to Reuters.comThe Institute of Supply Management's manufacturing Purchasing Managers Index, due at 10 a.m. ET, is expected to show factory activity slowed in July to 52.0 from 53.0 in June, according to a Reuters poll.""Manufacturing is a small part of the U.S. economy, but it tends to lead what you will later see in the services data, which is a bigger piece of the overall economy,"" said Randy Frederick Managing Director of Trading and Derivatives at Charles Schwab.The factory activity data will be followed by the monthly U.S. jobs report on Friday, which will be parsed for cues for the Fed's next moves.The U.S. central bank has raised interest rates by 2.25 percentage points so far this year and has vowed to be data-driven in its approach toward future hikes.Worries about a recession have weighed on stock markets this year, with the benchmark index (.SPX) down 13.3% as investors adjust their expectations on economic growth and corporate profits in the face of tightening financial conditions.However, the earnings season has showed companies were far more resilient in the second quarter than estimated.Of the 279 S&P 500 companies that have reported results, 77.8% have topped profit estimates, as per Refinitiv data. The long-term average is 66.1%.Activision Blizzard (ATVI.O), Devon Energy (DVN.N) and Simon Property Group (SPG.N) are scheduled to report quarterly results later in the day.At 8:26 a.m. ET, Dow e-minis were down 78 points, or 0.24%, S&P 500 e-minis were down 14.75 points, or 0.36%, and Nasdaq 100 e-minis were down 32.25 points, or 0.25%.Boeing Co (BA.N) gained 4.7% in premarket trading after a Reuters report that the U.S. Federal Aviation Administration approved the planemaker's inspection and modification plan to resume deliveries of 787 Dreamliners. read more Global Payments Inc (GPN.N) rose 3.5% after the fintech firm agreed to buy smaller peer EVO Payments Inc (EVOP.O) for nearly $4 billion, including debt, to expand in the business-to-business (B2B) space. read more Shares of EVO Payments jumped 20.7%.Register now for FREE unlimited access to Reuters.comReporting by Aniruddha Ghosh and Devik Jain in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.",Wall Street set to open lower ahead of July factory activity data.
"U.S. August 1, 2022 / 9:02 AM / CBS/AP Cleveland Browns quarterback Deshaun Watson was suspended for six games Monday for violating the NFL's personal conduct policy following accusations of sexual misconduct made against him by two dozen women in Texas, CBS Sports NFL Insider Josina Anderson reports. Former federal judge Sue L. Robinson ruled Monday to suspend Watson for six weeks after hearing testimony regarding the former Pro Bowl player's alleged off-field conduct.Watson, who played for four seasons with Houston before being traded to Cleveland in March, recently settled 23 of 24 lawsuits filed by massage therapists alleging sexual harassment and assault during appointments in 2020 and 2021. Deshaun Watson #4 of the Cleveland Browns walks off the field after the Cleveland Browns offseason workout at CrossCountry Mortgage Campus on June 1, 2022 in Berea, Ohio. Nick Cammett/Diamond Images via Getty Images After learning the ruling was imminent, the NFL Players Association issued a joint statement with Watson on Sunday night, saying they will not appeal Robinson's ruling and urged the league to follow suit. ""Every player, owner, business partner and stakeholder deserves to know that our process is legitimate and will not be tarnished based on the whims of the League office"" the union said in a statement.If either side appeals, NFL Commissioner Roger Goodell or someone he designates will make the decision, per terms of the collective bargaining agreement. The union then could try to challenge that ruling in federal court. As he awaited the ruling, Watson has been in training camp with the Browns. He has continued to take most of the reps with the first-team offense, which will be turned over to backup Jacoby Brissett while he's sidelined.The league had pushed for an indefinite suspension of at least one year and a $5 million fine for the 26-year-old Watson during a three-day hearing before Robinson in June. The NFL Players Association argued Watson shouldn't be punished at all because he was not convicted of any crime.Two grand juries in Texas declined to indict Watson on criminal complaints brought by 10 of the women.This was the first case for Robinson, a former U.S. district judge who was jointly appointed by the NFL and the union to handle player misconduct — a role previously held by Goodell. A three-time Pro Bowl pick with the Texans, Watson has seen his playing career stalled by the allegations that he acted inappropriately with the women during massage therapy sessions he scheduled via social media. He sat out the 2021 season.In their lawsuits, the women accused Watson of exposing himself, touching them with his penis or kissing them against their will. One woman alleged Watson forced her to perform oral sex.Watson has denied all wrongdoing, insisting any sexual activity with three of the women was consensual. He publicly insisted his goal was to clear his name before agreeing to confidential financial settlements with 20 of the women on June 21.Watson's high-profile case has renewed scrutiny of the league's handling of player misbehavior, along with its support for women, and left the Browns wondering if they'll ever find a franchise quarterback.Since the trade, Watson has been on public display, with fans questioning whether the league had the authority to ban him from playing despite no criminal charges.The league has been sensitive about its image and handing out the appropriate discipline for Watson after being criticized for its handling of previous sexual misconduct cases involving Baltimore running back Ray Rice, Pittsburgh quarterback Ben Roethlisberger and Cleveland running back Kareem Hunt among others.For their part, the Browns were widely condemned for signing Watson. The team has been desperate to find a long-term answer at quarterback - they've had a league-high 32 starters since 1999 - and many questioned why the team would take on a player with so much baggage. During his introductory news conference after he was traded to Cleveland, Watson was adamant about his innocence.""I have never assaulted, disrespected or harassed any woman in my life,"" he said at the dais, where he was joined by Browns general manager Andrew Berry and coach Kevin Stefanski. ""I was raised differently. That is not my DNA. That is not my culture. That is not me as a person.""He repeated those comments three months later during the Browns' minicamp, insisting his only goal was to clear his name. However, a week later he settled 20 of the civil lawsuits. Any remaining lawsuits could still go to trial, but not until 2023 after both sides agreed to wait until after the upcoming season.On July 15, 30 women settled lawsuits against the Texans after claiming the team ignored and enabled Watson as he harassed and assaulted them during the therapy sessions. Terms of the settlements were kept confidential.Lawyer Tony Buzbee, who represented the women who accused Watson, released a statement Monday, saying the case started because ""one woman had the fortitude to step forward and make her voice heard."" ""Her courage inspired many others with the same experience,"" he said. ""None of this saga would have occurred without that one brave voice. One person can make a difference.""Despite Watson's legal entanglement, the Browns - along with several other teams - pursued Watson after the first grand jury declined to indict him. Initially, Watson turned down the Browns. But Cleveland owners Dee and Jimmy Haslam enticed him with a fully guaranteed five-year, $230 million contract.Watson had other offers but chose the Browns and waived his no-trade clause to join a team coming off a disappointing 8-9 season. Cleveland completed the deal on March 18 by agreeing to send Houston three first-round draft picks and six selections overall for Watson.The Haslams said any concerns they had about his character or behavior were alleviated when they flew to Houston along with Berry and Stefanski and spent time talking to Watson.An All-American at Clemson, Watson was drafted by the Texans with the No. 12 pick in 2017. He started six games as a rookie before passing for 4,165 yards and 26 touchdowns in his second year.Watson has developed into one of the league's elite QBs, throwing for 4,823 yards and 33 TDs in 2020 despite playing on a Texans team that went just 4-12. In: deshaun watson",Browns QB Deshaun Watson suspended for 6 games by NFL following accusations of sexual misconduct.
"U.S. August 1, 2022 / 7:26 AM / CBS/AFP McKinney Fire burns near Yreka, California, on July 30, 2022. FRED GREAVES / REUTERS Des Moines, Iowa — California's largest fire this year has taken at least two lives and was forcing thousands of people to evacuate as it destroyed homes and ripped through the state's dry terrain, whipped up on Sunday by strong winds and lightning storms. The McKinney Fire was zero percent contained as it burned in Klamath National Forest in Northern California, CalFire said, spreading over more than 52,000 acres near the city of Yreka. The blaze was challenging a state that's already battled several big wildfires this summer.Siskiyou County Sheriff-Coroner Jeremiah LaRue said, ""Fire personnel located two deceased individuals inside a vehicle that was burned in the path of the McKinney Fire. The vehicle was located in a residential driveway."" California Governor Gavin Newsom declared a state of emergency Saturday, saying the fire had ""destroyed homes"" and ""threatened critical infrastructure"" after breaking out on Friday.The fire was ""intensified and spread by dry fuels, extreme drought conditions, high temperatures, winds and lightning storms,"" Newsom said in a statement. Remains of a property destroyed by the McKinney Fire are seen near Yreka, California, on July 31, 2022. FRED GREAVES / REUTERS More than 2,000 residents were under evacuation orders and some 200 more were under evacuation warnings, according to the California Office of Emergency Services, mostly in Siskiyou County. ""Surrounding areas should be ready to leave if needed. Please don't hesitate to evacuate,"" the Siskiyou County Sheriff tweeted. Highway 96 and McKinney Creed Road southwest of the Klamath River were closed to the public, CalFire said. Nearly 650 people were working to douse the blaze as of Sunday, the National Wildfire Coordinating Group said. Firefighting forces were sent from nearby Oregon to help containment efforts, the Oregon State Fire Marshal said. CalFire said the cause of the flames was still ""under investigation."" The US Forest Service said ""a heavy smoke inversion"" had helped to limit the growth of the fire on Sunday, but also meant that firefighters' aircraft were also ""mostly grounded."" Fire crews were working above Fort Jones and west of Yreka ""to cut off the fire's progress,"" the USFS said. The record-breaking blaze was sparked just days after the year's previous largest fire raged in central California. The Oak Fire near Yosemite National Park broke out in mid-July and spread rapidly, destroying 41 buildings and forcing thousands to evacuate. California, which is facing a punishing drought, still has months of fire season ahead of it. In recent years, California and other parts of the western United States have been ravaged by huge and fast-moving wildfires, driven by a warming climate. Other parts of the world have also faced intense wildfires this year. On Sunday, both Portugal and France were battling major forest fires, as temperatures rose sharply in Europe over the weekend.Also over the weekend, hundreds of firefighters in Germany battled a blaze in the east of the country, with four people injured, authorities said. Scientists say climate change is making heatwaves around the world more frequent and more intense, increasing the risk of fires. In: Wildfire Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","McKinney Fire, California's biggest of year, turns deadly."
"A collection of personal jewelry of Elvis Presley & Colonel Tom Parker, that was lost for decades and will be sold at auction in August, at the Sunset Marquis Hotel, in Hollywood, California, U.S., July 28, 2022. The items were part of a lost collection and do not belong to Priscilla Presley. REUTERS/Aude GuerrucciRegister now for FREE unlimited access to Reuters.comWEST HOLLYWOOD, Calif., Aug 1 (Reuters) - A collection of jewelry that Elvis Presley gave to his manager Colonel Tom Parker is going up for auction on Aug. 27.Two hundred items, including gold rings encrusted with jewels, cufflinks, watches and chains, have been brought together by GWS Auctions. Also included is the guitar played by Presley during his famous ""comeback"" TV special of 1968.Many of the pieces were provided by Presley's former wife, Priscilla Presley.Register now for FREE unlimited access to Reuters.com""Well, it brings back memories for sure,"" Priscilla Presley told Reuters.She added that it was a running joke with her former husband that he constantly bought or commissioned jewelry for Parker because the manager already had everything he needed and the Presleys did not know what else to buy him.Priscilla Presley said she felt protective of the items because she designed some of them, including artifacts with the logo for TCB Band, the musicians who formed the core rhythm section of Presley's backing band in his later years. ""TCB"" stood for ""taking care of business,"" a favorite expression of Presley's.Priscilla Presley supported the auction in part because she was weary of seeing so many fake Elvis artifacts for sale.""There is so much product out there that is not authentic at all and that worries me,"" she said.""I want to know for sure that that is going to go to someone who is going to care for it, love it.""Register now for FREE unlimited access to Reuters.comReporting by Rollo Ross in West Hollywood, Calif.
Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.",Elvis Presley's jewelry on auction with Priscilla Presley's support.
"Bulgaria's President Rumen Radev arrives to the Three Seas Summit in Riga, Latvia June 20, 2022. REUTERS/Ints KalninsRegister now for FREE unlimited access to Reuters.comSOFIA, Aug 1 (Reuters) - Bulgarian President Rumen Radev set Oct. 2 as the date for the country's fourth parliamentary election in less than two years on Monday, after the collapse in June of reformist Prime Minister Kiril Petkov's coalition government.Radev also appointed former labour minister Galab Donev to lead a caretaker government to serve from Aug. 2 until a new government is formed after the election. Radev will outline the priorities of the new government on Tuesday, his office said in a statement.The European Union country faces surging inflation, natural gas supply doubts and other impacts from the war in Ukraine.Register now for FREE unlimited access to Reuters.comThe appointment of Donev, 55, a presidential adviser on social policies, is seen as a sign that shielding households from soaring energy and food prices will be a priority for the caretaker administration.This could involve efforts to renew Russian gas imports as well as mending diplomatic relations with Moscow strained under Petkov's government.Petkov expelled 70 Russian diplomatic staff over espionage concerns and refused to pay for Russian gas in roubles, which led Moscow to cut supplies to a country almost completely dependent on Russian gas.His government, which had pledged to combat widespread corruption and criticised Russia's invasion of Ukraine, was toppled in a no-confidence vote only six months after taking office.Three attempts to secure a majority for a new government have since failed, deepening the political crisis that may jeopardise billions of euros in EU recovery aid and derail the Balkan country's plans to adopt the euro from 2024.The new government will also have to deal with uncertainty over gas supplies ahead of the winter as the EU braces for further gas flow cuts from Russia.Opinion polls show new elections are likely to produce another fractured parliament, with Petkov's centrist PP party running neck-and-neck with the centre-right GERB party of former premier Boyko Borissov.The surveys also show for the time being that the parties in Petkov's outgoing coalition have little chance of forming a new majority and point to an increase of support for nationalist and pro-Russian parties.Register now for FREE unlimited access to Reuters.comReporting by Tsvetelia Tsolova; editing by Michael Kahn and Philippa FletcherOur Standards: The Thomson Reuters Trust Principles.","Bulgaria president calls Oct 2 snap polls, appoints caretaker govt."
"A man casts his ballot during the parliamentary election, in Pikine, on the outskirts of Dakar, Senegal, July 31, 2022. REUTERS/Zohra BensemraRegister now for FREE unlimited access to Reuters.comSummaryRuling party says won 30 of 46 departmentsOpposition disputes count, issues warningSenegal's opposition seeks to control parliamentHopes to block President Sall's third term ambitionDAKAR, July 31 (Reuters) - Senegal President Macky Sall's ruling coalition said on Monday it has won 30 of the country's 46 administrative departments, giving it a slim majority parliament following Sunday's legislative election.Former prime minister Aminata Toure, who led the ruling coalition's list in the legislative election announced the partial results on national television from the party's headquarters early on Monday after Sunday's vote.""This gives us an unquestionable majority,"" Toure said to the cheers of supporters. She did not say how many of the 165 parliamentary seats the party won.Register now for FREE unlimited access to Reuters.comUnder Senegal's hybrid electoral system 97 candidates who win a majority of votes in administrative departments are elected, while 53 from national lists are elected using proportional representation, and 15 are elected by Senegalese living outside the country.Barthelemy Dias, mayor of the capital Dakar, and a leader of the main opposition coalition which has been energised by economic hardship and fears of Sall's third term ambition, immediately disputed the results announced by Toure, warning that it was not her place to announce results of the election.""The people will respond, and the people will come out into the streets tomorrow, and you will tell us where you got your majority,"" Dias said.The political backdrop in the country of 17.5 million, considered among West Africa's most stable democracies, has become increasingly acrimonious, fuelled in part by Sall's refusal to rule out breaching term limits. read more Violent protests erupted last year after Sall's main opponent, Ousmane Sonko, was arrested on rape charges. Sonko, who came third in the last presidential election in 2019, denies the allegations and says they are politically motivated.Violent protests broke out again last month after the main opposition coalition's primary list of parliamentary candidates, which included Sonko, was disqualified on technical grounds. As a result, the coalition's backup list - consisting mostly of relative unknowns - will be on the ballot. read more The coalition, which formed an alliance with another led by 96-year-old former President Abdoulaye Wade, is hoping to build on gains the opposition made during the January municipal election when they won control of Senegal's major cities.THIRD TERM AMBITION?Sall's ruling Benno Bokk Yakaar coalition is trying to conserve its majority of more than three-quarters of the parliament's 165 seats.""I'm confident that like in the past, voters will decide in all transparency,"" Sall said after voting.Sixty-year-old Sall swept to power in 2012 removing Wade, and was elected again in 2019. He has campaigned on big-ticket construction projects such as a high-speed train line and a conference centre, as well as oil and gas production.His opponents have seized on growing frustrations with economic hardship caused by the coronavirus pandemic and rising fuel and food prices.Sall's refusal to publicly rule out a candidacy in 2024 has stoked fears he will follow in the footsteps of Ivory Coast President Alassane Ouattara and former Guinea President Alpha Conde. Both men stood for - and won - third terms in 2020 by arguing that new constitutions had reset their two-term limits.Senegal adopted constitutional revisions, which among other things reduced presidential terms from seven to five years, in 2016. Sall has declined to comment on his intentions for 2024.Register now for FREE unlimited access to Reuters.comWriting by Aaron Ross and Bate Felix;
Editing by Christina Fincher, Hugh Lawson, Andrew Cawthorne & Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.",Senegal's ruling party says holds majority after legislative vote.
"The Cotopaxi volcano is seen near Quito, Ecuador, August 10, 2015. REUTERS/Guillermo Granja/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador at accounts in the country as a result of a dispute over a $391 million settlement award that Anglo-French oil company Perenco says remains unpaid, a document seen by Reuters show.Ecuador's government pledged in June 2021 to honor the debt, awarded Perenco by the World Bank's International Centre for Investment Disputes (ICSID) which ruled Ecuador had unlawfully ended a production-sharing agreement with the company. The country's solicitor general said last year that due to tight finances the government had contacted Perenco to negotiate a payment plan. read more ""Perenco has to date, more than one year later, still not received a single dollar from Ecuador,"" Perenco said in a statement on Monday, adding it will ""take steps to enforce its payments rights against Ecuador in Luxembourg and other jurisdictions.""Register now for FREE unlimited access to Reuters.comThe ministry of economy in Ecuador and the energy ministry were not immediately available to comment outside of regular business hours. Global law firm Hogan Lovells, legal advisors to Ecuador on U.S. law, declined to comment.A spokesperson at the London office for Cleary Gottlieb Steen & Hamilton LLP's, legal advisers to the dealer manager on Ecuador's eurobonds, did not immediately respond to a request for comment.A document seen by Reuters shows a Luxembourg bailiff, Pierre Biel & Geoffrey Galle, on July 28 ordered 122 banking entities operating in Luxembourg to freeze assets in accounts used by Ecuador on behalf of Perenco. An employee at the bailiff declined to comment when contacted by Reuters because they are not authorized to speak to parties not involved in the case.Reuters could not immediately establish what assets Ecuador held in Luxembourg accounts. The banks named included Deutsche Bank, Credit Suisse and HSBC.Credit Suisse and Deutsche Bank declined to comment, while HSBC did not immediately respond to requests for comment.The Latin American country two years ago defaulted on $17.4 billion of foreign debt as the nation buckled under one of the region's worst coronavirus outbreaks following years of economic stagnation.As part of the debt restructuring that followed, Ecuador sold new bonds maturing in 2030, 2035 and 2040 which are listed on the Luxembourg stock exchange.Many of these bonds had interest payments falling due on July 31.It was not immediately clear what impact a freeze might have on Ecuador's ability to make those payments. Holders of Ecuador's international bonds include major asset managers such as BlackRock, PIMCO and JPMorgan, according to data available on EMAXX, which provides details of funds' holdings based on their public disclosures. PIMCO declined to comment, while BlackRock and JPMorgan were not immediately available for comment.The case that led to the ICSID award stemmed from a 2007 decree issued by then-President Rafael Correa that boosted the Ecuadorean state's take from sales of oil produced by private companies exceeding a certain level. read more Perenco sued Ecuador in 2008 and was ultimately awarded $412 million in May last year. Perenco is entitled to $391 million after taking into account compensation it was ordered to pay Ecuador for environmental damage caused in the areas where it operated in Blocks 7 and 21.President Guillermo Lasso, a conservative former banker who took office in May 2021, has promised to revive Ecuador's economy and attract investment - especially in oil and mining. read more ""Perenco remains hopeful that Ecuador's Government will finally honour its international obligations, demonstrate its commitment to the rule of law, and uphold its promises to foreign investors, by promptly satisfying the Award without further delay,"" the company said in its statement.Register now for FREE unlimited access to Reuters.comReporting by Rowena Edwards and Karin Strohecker in London; Additional reporting by Alexandra Valencia in Quito; Editing by Elisa Martinuzzi, Daniel Wallis and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.","EXCLUSIVE Luxembourg banks told to freeze Ecuador assets amid Perenco dispute, documents show."
"A Homzmart logo is pictured inside a company's showroom in Cairo, Egypt July 31, 2022. REUTERS/Mahmoud SalamaRegister now for FREE unlimited access to Reuters.comCairo, Aug 1 (Reuters) - Furniture and home goods e-commerce platform Homzmart has closed one of the past year's biggest funding rounds for a Middle Eastern and North Africa start-up, raising $23 million, its chief executive said.The company, launched in 2020, will use the new funding to expand services, especially logistics, and fill gaps that appear in supply chains, co-founder and CEO Mahmoud Ibrahim said in an interview with Reuters.The latest pre series B round funding round, which included participation from Riyadh-based technology venture capital fund STV, Impact46, Outliers Ventures, Rise Capital and NUWA Capital, brings its total funding to about $40 million.Register now for FREE unlimited access to Reuters.comIt raised $15 million in an earlier round that closed in the second quarter of last year, after an initial round in which it raised about $2.5 million.Homzmart started by connecting brands and manufacturers with customers in the Arab world's most populous country. But it found gaps in supply chains that prompted it to create a logistics arm, and now has about 100 trucks.It also in March acquired Berlin-based home interior design firm MockUp Studio, which uses artificial intelligence to make designs.Earlier this year the company's activities expanded to Saudi Arabia, and Ibrahim said it had achieved solid growth there. ""The percentage of activity in the Kingdom is now between 25% and 30% of the total volume of Homzmart business,"" he said in the interview on Sunday.The company says it serves 25 million houses in Egypt and Saudi Arabia, with more than 150,000 products on the platform.Homzmart has not yet achieved profitability but Ibrahim said it is still focused on expansion and building market share ""through lazer-focused profitability milestones"".(This story corrects the name of STV in paragraph 3)Register now for FREE unlimited access to Reuters.comReporting by Mahmoud Salama; Editing by David Goodman and David HolmesOur Standards: The Thomson Reuters Trust Principles.",Investment in MENA start-up Homzmart rises to $40 mln after latest round.
"U.S. August 1, 2022 / 6:46 AM / CBS/AFP Female inmates at a prison in Indiana have filed lawsuits alleging they were subjected to a ""night of terror"" when a guard sold keys to their cells to male prisoners who sexually assaulted them.In a pair of lawsuits filed in U.S. District Court, a total of 28 women said they were attacked shortly after midnight on the night of October 23, 2021 at the Clark County jail in Jeffersonville.The female prisoners accused a guard at the facility, David Lowe, of providing the key to the male inmates for $1,000. They said the attack by male prisoners wearing masks made out of towels and blankets lasted for about two hours and despite the presence of surveillance cameras guards did not intervene.""Even though the incident involved multiple male detainees and dozens of victims over an extended period of time, not a single jail officer on duty that night came to the aid of the plaintiffs and the other victims,"" one of the lawsuits said. ""These systemic failures allowed numerous male assailants to have free run of the jail for several hours, resulting in a night of terror for the plaintiffs and other victims,"" it said.The lawsuits alleged that the male inmates groped female inmates, exposed their genitals, and made sexual and threatening statements. Two of the women alleged they were raped.Although they were the victims, jail officials punished the women, the lawsuits said, leaving their lights on for 72 hours straight, placing them on ""lockdown"" and confiscating personal items.Besides naming Lowe as a defendant, the lawsuits also accused Clark County Sheriff Jamey Noel of negligence for failing to prevent the attack. ""A sheriff at the jail — they have one job, and that's to keep inmates safe and secure. And it's just a complete, utter failure that allowed this to happen,"" Steve Wagner, a lawyer representing eight women, told The Washington Post.Lowe, the prison guard, told The Washington Post that inmates had stolen the keys that gave them access to the women's cells and he only learned about the attack days later.Lowe said in a statement to the newspaper that he was ""coerced and assaulted into making a false confession.""With more than two million people behind bars, the United States has the largest prison population in the world. In: Lawsuit Indiana Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","""Night of terror"": 28 female inmates at Indiana jail allege sexual assault by male prisoners after guard sold cell keys, lawsuits say."
"Supporters of Iraqi populist leader Moqtada al-Sadr gather for a sit-in at the parliament building, amid political crisis in Baghdad, Iraq August 1, 2022. REUTERS/Khalid Al-MousilyRegister now for FREE unlimited access to Reuters.comBAGHDAD, Aug 1 (Reuters) - Baghdad braced for demonstrations on Monday by rival Shi'ite Muslim groups which are affiliated with heavily armed militias, raising fears of clashes as tension soars over the formation of a government.Iraq's longest post-election deadlock, at nearly 10 months with no government after an October vote, has led to unrest including protests by supporters of the powerful cleric Moqtada al-Sadr, who are occupying parliament in an open-ended sit-in.Sadr's opponents include a grouping of parties and militias mostly aligned with Iran. That grouping, known as the Shi'ite Coordination Framework, has called for counterprotests on Monday evening near the parliament, saying that was aimed at protecting state institutions against the civil unrest of the Sadrists.Register now for FREE unlimited access to Reuters.com""We're ready for whatever Sadr orders,"" said one supporter of the cleric, Kadhim Haitham, on his way to join the parliament sit-in.""We're against the Framework. All they've got is statements and no popular support. We don't know if their protest will be armed but they're scared.""The Iraqi parliament sits in Baghdad's fortified Green Zone, which Sadr supporters stormed with ease twice last week as security forces stood back. The Framework's protests are due to take place nearby at the entrance of the Green Zone.A commander of a pro-Iran militia said he feared clashes and hoped calm heads would prevail.""The situation in Iraq is very tough. We hope God will deliver us from fighting among the brothers. If things devolve, it will ruin the whole region,"" the commander said, declining to be named as he was not authorised to speak to the media.Sadr came first in the October election, but withdrew all his lawmakers from parliament after he failed to form a government that excluded his Shi'ite rivals.He has since exerted political pressure through his masses of loyal followers, mostly working-class Shi'ites from poor neighbourhoods in Baghdad and across southern Iraq, the heartland of the country's Shi'ite majority.Sadr's actions have prevented his rivals, including bitter foe, ex-Prime Minister Nouri al-Maliki, from forming a government. Parliament must choose a president and premier and cannot convene while it is occupied by Sadr's followers.The Sadrists have called for new elections and an end to the political system that has existed since the U.S.-led invasion which toppled Sunni dictator Saddam Hussein.That system distributes power by sect and party, and is blamed by many Iraqis for the endemic corruption and dysfunction that has prevented any meaningful progress for years, despite Baghdad's oil wealth and relative peace after the defeat of Islamic State militants in 2017.Sadr is one of the chief beneficiaries of that system. His loyalists run some of Iraq's wealthiest and worst-managed ministries.Register now for FREE unlimited access to Reuters.comReporting by John Davison
Editing by Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.",Baghdad braces for clashes as rival camps to stage protests.
"Register now for FREE unlimited access to Reuters.comZUPCE, Kosovo, Aug 1 (Reuters) - Kosovo's government on Monday began issuing extra documents to Serbian citizens crossing into its territory, as Serbs living in the north of the country who oppose the decision blockaded roads leading to two border crossings.Fourteen years after Kosovo declared independence from Serbia, some 50,000 Serbs in the north still use licence plates and documents issued by Serbian authorities, refusing to recognise the Pristina government and its institutions.Following tensions on Sunday and consultations with U.S. and EU ambassadors, the government said it would postpone until Sept. 1 a decision giving local Serbs 60 days to switch to Kosovo licence plates and requiring extra documents to be issued at the border to Serbian citizens, including those living in Kosovo without local documents.Register now for FREE unlimited access to Reuters.comBut as gravel-filled trucks and heavy machinery continued to block roads leading to the Brnjak and Jarinje border crossings in northern Kosovo on Monday morning, the government began issuing the documents at the biggest border crossing Merdare.“This decision will continue to be implemented until all the barricades are removed and the freedom of movement for people and goods is ensured,"" Kosovo’s Interior Minister Xhelal Svecla said.A general view shows trucks blocking a road in Rudare, Kosovo, August 1, 2022. REUTERS/Fatos Bytyci NO RESALES. NO ARCHIVES.NATO-led mission KFOR helicopters flew over the north of Kosovo, which is majority-populated by Serbs and linked directly with Serbia. The Brnjak and Jarinje border crossings remained closed.Kosovo has been recognised as an independent state by more than 100 countries but not by Serbia or Russia.A year ago, after local Serbs blocked the same roads in another row over licence plates, Kosovo's government deployed special police forces and Belgrade flew fighter jets close to the border.Tensions between the two countries remain high and Kosovo's fragile peace is maintained by a NATO mission with 3,770 troops on the ground. Italian peacekeepers were visible in and around then northern town of Mitrovica on Sunday.The two countries committed in 2013 to a dialogue sponsored by the European Union to try to resolve outstanding issues but little progress has been made.Register now for FREE unlimited access to Reuters.comReporting by Fatos Bytyci; Writing by Ivana Sekularac; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",Kosovo starts issuing extra documents to Serbian citizens as protesters block roads.
"Here are the most important news items that investors need to start their trading day:1. Stock futures are lower to start August tradingA trader works on the floor of the New York Stock Exchange (NYSE), July 27, 2022.Brendan McDermid | ReutersStock futures are lower Monday, as Wall Street begins a new month after strong gains in July. All three major U.S. stock indexes recorded their best months of the year. The S&P 500 and Dow Jones Industrial Average rose 9.1% and 6.7% in July, respectively, their largest monthly advances since November 2020. The Nasdaq Composite outperformed and ended a three-month losing skid. The index rose 12.35% in July for its best month since April 2020, powered by robust gains in the technology sector.2. Oil prices fall ahead of OPEC+ meetingOPEC+ has agreed to increase oil output by 648,000 barrels per day in July and August – a larger-than-expected amount as the Ukraine war wreaks havoc on global energy markets.Ian Tuttle | Bloomberg | Getty ImagesCrude prices dropped Monday, as energy markets digest poor factory data from China and Japan, and prepare for OPEC and its oil-producing allies to decide September output later in the week. West Texas Intermediate futures, the U.S. oil benchmark, traded lower by roughly 1.5% on Monday, while international benchmark Brent crude futures fell around 1.1%. WTI and Brent declined for the second-straight month in July as recession concerns weighed on prices, their first two-month losing streak since October 2020. The group known as OPEC+ is set to meet Wednesday to discuss whether to keep September output plans steady or modestly increase production, according to Reuters.3. Another busy earnings week is hereStarbucks coffee shop logo seen at one of their stores.Stephen Zenner | LightRocket | Getty ImagesIt's another crowded week for earnings on Wall Street, after tech heavyweights including Apple and Amazon posted quarterly numbers in recent days. In all, 148 companies in the S&P 500 are expected to release results over the next five days, including Caterpillar, JetBlue and Starbucks on Tuesday, followed by the likes of Yum Brands and Booking Holdings on Wednesday. In addition to the jam-packed earnings slate, July's nonfarm payrolls report is due out Friday morning. Investors are anticipating that key labor market announcement as they look for more insight into the health of the U.S. economy amid recession concerns.4. Fed official: Inflation matters more than recession declarationNeel Kashkari, president and chief executive officer of the Federal Reserve Bank of Minneapolis.Andrew Harrer | Bloomberg | Getty ImagesMinneapolis Federal Reserve President Neel Kashkari said Sunday he's focused inflation data — not the squabbling over whether the U.S. economy is in a recession. While that discussion intensified late last week when an advance estimate of second-quarter GDP showed a negative reading, the central bank official told CBS he places a greater emphasis on other economic data right now. ""Whether we are technically in a recession or not doesn't change my analysis,"" Kashkari said in an interview on ""Face the Nation."" ""I'm focused on the inflation data. I'm focused on the wage data. And so far, inflation continues to surprise us to the upside. Wages continue to grow."" CNBC's Cameron Albert-Deitch has more on Kashkari's comments here.5. Google CEO: Employee productivity needs to improveGoogle CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California.Anna Moneymaker | Getty ImagesIn a recent all-hands meeting, Google CEO Sundar Pichai told employees at the tech giant that their productivity needs to improve and asked for their assistance in creating a culture that is ""more mission focused,"" among other things. ""It's clear we are facing a challenging macro environment with more uncertainty ahead,"" Pichai said, adding later: ""There are real concerns that our productivity as a whole is not where it needs to be for the head count we have."" Read the full report from CNBC's Jennifer Elias here.— CNBC's Jennifer Elias, Cameron Albert-Deitch, Patti Domm and Christopher Hayes contributed to this report. Reuters also contributed.— Sign up now for the CNBC Investing Club to follow Jim Cramer's every stock move. Follow the broader market action like a pro on CNBC Pro.",5 things to know before the stock market opens Monday.
"Sri Lanka's Prime Minister Mahinda Rajapaksa reacts during his swearing in ceremony as the new Prime Minister, at Kelaniya Buddhist temple in Colombo, Sri Lanka, August 9, 2020. REUTERS/Dinuka LiyanawatteRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Sri Lanka's Supreme Court has extended a travel ban imposed on former president Mahinda Rajapaksa and his brother, ex-minister Basil Rajapaksa, until Aug. 4 as they were named respondents in a case filed over the economic crisis, Ada Derana news website reported on Monday.On July 27, the court had extended the ban until Aug. 2. read more (This story fixes spelling of Derana in headline)Register now for FREE unlimited access to Reuters.comReporting by Rachna Dhanrajani in Bengaluru, editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.",Sri Lanka top court extends travel ban on Mahinda and Basil Rajapaksa until Aug 4 -Ada Derana.
"Nikola Motor Company Two truckSource: Nikola Motor CompanyElectric heavy truck maker Nikola said Monday that it struck a $144 million deal to acquire battery pack supplier Romeo Power, giving the company control over a key part of its supply chain.The all-stock transaction values Romeo at 74 cents per share, a 34% premium to Romeo's closing price on Friday. Romeo's shares were up about 23% to 68 cents in premarket trading after the news was released.As part of the deal, Nikola will provide Romeo with $35 million in interim funding to continue its operations until the deal closes, the companies said. Nikola said it believes the acquisition could save it up to $350 million over the next four years.California-based Romeo specializes in building battery modules and packs for large electric commercial vehicles, using lithium-ion battery cells manufactured by other companies. Nikola, which began shipping its electric semi trucks earlier this year and expects to ship between 300 and 500 trucks in 2022, has been Romeo's largest customer.Nikola CEO Mark Russell said the deal will let the company accelerate the development of its electrification platform.""Given our strong relationship with Romeo and ongoing collaboration, we are confident in our ability to successfully integrate and deliver the many expected strategic and financial benefits of this acquisition,"" he said.The deal is a lifeline for Romeo, which like Nikola is one of many companies in the EV space to have gone public via mergers with special-purpose acquisition companies. Romeo went public via a SPAC merger in late 2020, in a deal that valued the combined company at $900 million.But Romeo had just $66.8 million in cash and equivalents remaining as of the end of the first quarter, after racking  up over $250 million in losses. With its shares trading below $1 in recent weeks, and with interest rates rising, Romeo may have been running out of options to stay afloat.Nikola has been working to win shareholder approval of a measure to increase its total number of shares outstanding, a measure that has been blocked by its former CEO Trevor Milton, who was ousted following allegations that he misrepresented details of Nikola's technology and order book to investors. Nikola plans to reconvene its shareholder meeting on Tuesday afternoon to announce the current vote totals.In a regulatory filing on Monday morning, Nikola said it has enough unissued stock to complete the acquisition of Romeo, even if the proposal to increase its shares outstanding fails to pass.",Nikola to acquire battery-pack supplier Romeo Power in $144 million deal.
"Electric vehicle batteries are in short supply, and costs for materials such as nickel and cobalt are surging. Yet legacy automaker Ford Motor says it plans to be profitably building millions of EVs a year in just four years.This week, the Detroit automaker gave investors a little more clarity about how it plans to reach that goal and transform its business built on gas-guzzling cars.As electric vehicles account for a growing share of the global car market, Ford in March announced it would reorganize its business and separate its internal-combustion engine and electric vehicle efforts. By 2026, it said it expects to build more than 2 million electric vehicles annually — about a third of its total global production — while expanding its operating profit margin.Wall Street analysts were generally positive about the plan, but some expressed skepticism about the lack of specifics around how the company plans to overcome the supply challenges in the market. Morgan Stanley's Adam Jonas called it a ""stretch"" goal and said he lacked confidence in Ford's ability to secure enough raw materials and tooling to manufacture batteries to even come close to its projection.Ford addressed some of those concerns in another presentation on July 21, when it told investors that it has secured enough batteries to get to its near-term target: 600,000 EVs per year by the end of 2023. As of now, it said, it has secured about 70% of what it needs to hit its 2026 goal.Ford promised to share more about how it plans to hit its goals during its annual capital markets day next year. But during its second-quarter earnings call last week, CEO Jim Farley gave some more hints about the automaker's strategy.A chance to simplifyInstead of just swapping out internal-combustion engines for batteries and electric motors, Farley has said the company is completely rethinking how it develops its vehicles — and how it keeps them fresh over time.The company sees a new era where it will be able to freshen its electric vehicles with upgrades to software, batteries and electric motors, much as Tesla does. That means the most costly parts of a vehicle — ‌‍‎‏the sheet metal body panels and the underpinnings that form its overall proportions — won't have to be changed as frequently.Read more about electric vehicles from CNBC Pro""We have an opportunity as we go digital with these EVs, to simplify our body engineering and put the engineering where customers really care,"" Farley said last week. ""And it's not a different fender. It's software. It's a digital display technology. It's a self-driving system and the [autonomous vehicle] tech. And of course it's going to be, in some cases, more powerful motors.""Ford typically redesigns its traditional vehicle models every five to seven years. If it can extend that time by relying on software updates to keep its vehicles fresh, rather than body redesigns, it could save fortunes.It's part of how Ford expects to improve its operating margin to 10% by 2026. For its second quarter, the company posted a 9.3% adjusted operating margin. Those results were helped by tight new-vehicle inventories that have allowed Ford to boost its prices.Fitting dealers into the futureFord is at a disadvantage to companies like Tesla and EV startups that sell directly to consumers, without dealers acting as middlemen.The company isn't planning to eliminate its franchised dealers, which enjoy strong legal protections in many U.S. states that effectively forbid Ford from selling directly to its customers as Tesla does. But Farley said that Ford sees a path to reducing that cost disadvantage — which he estimates at around $2,000 per vehicle — by keeping dealers' inventories very low and by shifting the way Ford markets its products.One key to that effort: Ford plans to let customers order its EVs online rather than buying a vehicle from a dealer's inventory.As Farley sees it, dealers will have only a few new vehicles on their lots, just enough to offer test drives to customers before they order. Customers will be able to order from the dealership or online ""in their bunny slippers,"" Farley said, with the dealer making the delivery and providing service after the sale.Farley estimates that the low dealer inventories and online ordering will make up roughly $1,200 to $1,300 of that $2,000 per-vehicle cost disadvantage, while ensuring that Ford's dealers remain profitable. The plan will free dealers from having to carry costly inventories, allowing them — in theory, at least — to focus more on service and customer education. That could give Ford an edge that EV makers selling direct won't be able to easily match.""I think that's a different play than the pure EV companies,"" Farley said.",Ford CEO offers more clues about automaker's ambitious electric vehicle plans.
"Heineken logo is seen at the company's building in Sao Paulo, Brazil April 30, 2019. REUTERS/Amanda Perobelli/File PhotoRegister now for FREE unlimited access to Reuters.comMILAN, Aug 1 (Reuters Breakingviews) - Heineken (HEIN.AS) consumers are making up for lost time. Undeterred by higher prices, fans of the Dutch brewer are drinking more than before Covid-19 struck. Beer volumes in the first half of the year were up 7.6% organically compared to a year earlier, the Amsterdam-based company announced on Monday. That’s ahead of expectations and about 4% more than in 2019. Revenue soared 37% to 16.4 billion euros year-on-year.Much of the improvement reflects Heineken’s ability to pass on the rising cost of commodities, energy and transport to eager drinkers, while also cutting costs. Investors are also impressed: Heineken shares are roughly flat since Russia invaded Ukraine; rivals Carlsberg (CARLb.CO) and Anheuser-Busch InBev (ABI.BR) are both down about 6%.But future price increases may be harder: skyrocketing gas prices are not only hitting Heineken but suppliers of glass bottles and aluminium cans. That’s probably why Chief Executive Dolf van den Brink has shelved a 17% EBIT margin target set for 2023. Summer heat may encourage people to load up on cool drinks. Yet Heineken’s ability to keep charging them more can only go so far. (By Lisa Jucca)Register now for FREE unlimited access to Reuters.comFollow @Breakingviews on TwitterCapital Calls - More concise insights on global finance:China raises hope for emerging market debt read more Chevron rewards investors read more Aston Martin’s bumper loss needs bigger cash call read more Unilever stuck in Ben & Jerry’s Israeli limbo read more China’s politburo serves investors a nothingburger read more Register now for FREE unlimited access to Reuters.comEditing by Peter Thal Larsen and Oliver TaslicOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",Heineken’s post-Covid bounce can only go so far.
"SummaryBout dubbed 'the merchant of death' and 'sanctions buster'Was among most wanted men in world before 2008 arrestClients included rogue states, warlords in Asia, AfricaLikely had ties to Russian intelligence, experts sayMoscow has long sought his release from long US jail termLONDON, Aug 1 (Reuters) - The life of Viktor Bout, the Russian arms dealer jailed in the United States and linked to a possible swap for two U.S. citizens detained by Moscow, sometimes reads like a far-fetched spy thriller.Variously dubbed “the merchant of death” and “the sanctions buster” for his ability to get around arms embargoes, Bout, 55, was one of the world’s most wanted men prior to his 2008 arrest on multiple charges related to arms trafficking.For almost two decades, Bout became the world’s most notorious arms dealer, selling weaponry to rogue states, rebel groups and murderous warlords in Africa, Asia and South America.Register now for FREE unlimited access to Reuters.comHis notoriety was such that his life helped inspire a Hollywood film, 2005’s Lord of War, starring Nicholas Cage as Yuri Orlov, an arms dealer loosely based on Bout.Even so, Bout’s origins remained shrouded in mystery. Biographies generally agree that he was born in 1967 in Dushanbe, then the capital of Soviet Tajikistan, close to the border with Afghanistan.A gifted linguist, who later used his reported command of English, French, Portuguese, Arabic and Persian to build his international arms empire, Bout reportedly attended the Dushanbe Esperanto club as a young boy, becoming fluent in the artificial language.A stint in the Soviet army followed, where Bout has said he achieved the rank of lieutenant, serving as a military translator including in Angola, a country that would later become central to his business.Bout’s big breakthrough came in the days after the 1989-91 collapse of the Communist bloc, cashing in on a sudden glut of discarded Soviet era weaponry to fuel a series of fratricidal civil wars in Africa, Asia and beyond.With the Soviet Union’s vast air fleet disintegrating, Bout was able to acquire a squadron of around 60 old Soviet military aircraft based out of the United Arab Emirates, by which he could supply his products around the world.BUSINESS OVER POLITICSA 2007 biography entitled ""Merchant of Death: Guns, Planes, and the Man Who Makes War Possible"" by Douglas Farah and Stephen Braun reported the following details of Bout's shadowy trade.From a base in the Gulf emirate of Sharjah, he interwove his arms trafficking empire with a seemingly innocuous logistics business, always insisting when queried that he was a legitimate entrepreneur with respectable clients and no case to answer.Even so, Bout, who first appeared on the CIA's radar amid reports of a shadowy Russian citizen trading arms in Africa, was by the turn of the millennium one of the most wanted men in the world.But Bout, whose clients included rebel groups and militias from Congo, to Angola and Liberia, had little in the way of firm ideology, tending to place business above politics.In Afghanistan, he variously sold guns to Islamist Taliban insurgents and their foes in the pro-Western Northern Alliance, according to ""Merchant of Death"".It said Bout supplied guns to former Liberian President and warlord Charles Taylor, now serving a 50-year prison term for murder, rape and terrorism, to various Congolese factions, and to Philippine Islamist militant group Abu Sayyaf.The end only came in 2008, after an elaborate sting operation by the U.S. Drug Enforcement Administration saw Bout tracked across multiple countries to a luxury hotel in Bangkok.During a spectacular sting operation, Bout was caught on camera agreeing to sell undercover U.S. agents posing as representatives of Colombia's leftist FARC guerrillas 100 surface-to-air missiles, which they would use to kill U.S. troops. Shortly afterwards, he was arrested by Thai police.After over two years of diplomatic wrangling in which Russia loudly insisted that Bout was innocent and his case politically charged, Bout was extradited to the United States, where he faced a raft of charges, including conspiracy to support terrorists, conspiracy to kill Americans, and money laundering.Bout was tried on the charges related to FARC, which he denied, and in 2012 was convicted and sentenced by a court in Manhattan to 25 years in prison, the minimum sentence possible.Ever since, the Russian state has been keen to get him back.U.S. WILLING TO SWAP BOUT -SOURCEOn July 27, U.S. Secretary of State Antony Blinken said Washington had made ""a substantial offer"" to Russia to release Women's National Basketball Association (WNBA) star Brittney Griner and ex-U.S. Marine Paul Whelan.Two days later, Blinken said he had a ""frank and direct conversation"" by phone with Russian Foreign Minister Sergei Lavrov by phone and pressed Moscow to accept the proposal. read more Blinken declined to say what the United States was offering in return for Griner and Whelan. A source familiar with the situation confirmed a CNN report that Washington was willing to exchange Bout as part of a deal. read more Lavrov suggested to Blinken that the two sides return to quiet diplomacy on the issue of prisoner swaps ""rather than throwing out speculative information"", a Russian foreign ministry statement said.Lavrov has said Bout's extradition from Thailand was ""a glaring injustice"" and suggested he was innocent.Comments from a 2012 interview with the judge who presided over Bout’s New York City trial that his 25-year sentence was “excessive” have occasionally been seized on by Russian media making the case for Bout’s return home.Earlier this year, speculation rose that Bout was set to be exchanged for Trevor Reed, a U.S. Marine Corps veteran jailed in Russia on assault charges. Reed was ultimately freed in return for Konstantin Yaroshenko, a Russian pilot jailed in the United States on drug trafficking charges.For experts, the Russian state's continued interest in Bout, plus his skills and connections in the international arms trade, hint strongly at Russian intelligence ties.In interviews, Bout has said he attended Moscow's Military Institute of Foreign Languages, which serves as a training ground for military intelligence officers.""Bout was almost certainly a GRU agent, or at least a GRU asset,"" said Mark Galeotti, an expert on the Russian security services at the Royal United Services Institute think tank, referring to Russia's military intelligence service.“His case has become totemic for the Russian intelligence services, who are keen to show that they don’t abandon their own people,” Galeotti added.According to Christopher Miller, a journalist who has corresponded with neo-Nazis imprisoned along with Bout at United States Penitentiary Marion in Illinois, the former arms dealer keeps a photo of Russian President Vladimir Putin in his cell and says he does not believe Ukraine should exist as a state.Reached by Reuters over the WhatsApp messaging service, Bout’s wife Alla, who lives in St Petersburg, said: “We very much hope that everything will be resolved and an agreement will be reached.""All that’s left to do is to pray,” she added.Register now for FREE unlimited access to Reuters.comReporting by Reuters
Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.","Who is Viktor Bout, arms dealer linked to swap for Americans held by Moscow?."
"Register now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Manufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc could fall into a recession.S&P Global's final manufacturing Purchasing Managers' Index (PMI) fell to 49.8 in July from June's 52.1, just ahead of a preliminary reading of 49.6 but its first time below the 50 mark separating growth from contraction since June 2020.An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good gauge of economic health, sank to a more than two-year low of 46.3. In June it was 49.3.Register now for FREE unlimited access to Reuters.com""Euro zone manufacturing is sinking into an increasingly steep downturn, adding to the region's recession risks. New orders are already falling at a pace which, excluding pandemic lockdown months, is the sharpest since the debt crisis in 2012, with worse likely to come,"" said Chris Williamson, chief business economist at S&P Global.""Lower than anticipated sales, reflected in accelerating rates of decline of new orders and exports, have led to the largest rise in unsold stocks of finished goods ever recorded by the survey.""Workers assemble campers at Knaus-Tabbert AG factory in Jandelsbrunn near Passau, Germany, March 16, 2021. Picture taken March 16, 2021. REUTERS/Andreas Gebert/File PhotoThe new orders index fell to 42.6 from 45.2, its lowest since May 2020 when the coronavirus pandemic was starting to grip the world, indicating scant chances of a turnaround anytime soon.S&P Global said production was falling in all countries surveyed other than the Netherlands and that the rate of decline was of particular worry in Germany, France and Italy - the bloc's three biggest economies.The U.S. economy unexpectedly contracted last quarter, raising the risk the world's largest economy was on the cusp of a recession. read more Still, last month the European Central Bank raised interest rates by more than expected as concerns about runaway inflation trumped worries about growth. read more Euro zone inflation rose further from the ECB's 2% target to a record high of 8.9% in July, preliminary official data showed last week. While the input and output prices indexes fell in the PMI survey they remained high. read more The bloc's economy grew faster than expected last quarter, an early reading showed on Friday, but a July Reuters poll gave a 45% chance of a recession within a year. read more Register now for FREE unlimited access to Reuters.comReporting by Jonathan Cable; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Euro zone factory activity contracted in July as recession fears grow.
"Crime August 1, 2022 / 6:29 AM / CBS/AP Anna Jones in an undated family photo GoFundMe Carrolton, Ga. — A university instructor in Georgia has been charged with killing an 18-year-old student who was shot while sitting in a car. The Carrollton Police Department said in a news release that Richard Sigman, 47, is charged with murder and aggravated assault in the shooting death of Anna Jones, 18. Police said they believe Jones was killed when Sigman shot into a parked car following an argument with a man at a pizza restaurant. The shooting happened shortly after midnight Saturday. Police said a man told security that Sigman had threatened to shoot him during an argument, and security then asked Sigman to leave. Investigators believe when Sigman left, he walked to the parking deck and started shooting into a parked vehicle, hitting Jones. Friends drove Jones to a hospital, where she was pronounced dead, police said. It wasn't  immediately clear if Sigman has a lawyer to speak on his behalf. The University of West Georgia told news outlets in a statement that Sigman's employment has been terminated. A current course catalog listed Sigman as a lecturer in business administration. The university said Jones was a student at the university. ""On behalf of the university, we wish to convey our deepest condolences to Anna's family and many friends. We know this news is difficult to process and affects many members of our university community. We ask that you keep Anna's family, friends, and all who have been touched by this tragedy in your thoughts during this tremendously difficult time,"" University of West Georgia President Dr. Brendan Kelly said in the statement.A GoFundMe page has been set up to pay for Jones' funeral expenses. The organizer said she ""was a beautiful, sweet soul, and her smile would light up a room! ... This was a devastating and senseless crime that left a lot of hearts broken, a community mourning, and a family grieving."" Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",Georgia university instructor Richard Sigman charged in fatal shooting of student Anna Jones.
"The HSBC logo is seen in the Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - HSBC (HSBA.L) will pay some of its British workforce a one-off payment of 1500 pounds ($1,830) to help them deal with the cost of living, a memo seen by Reuters on Monday said.In doing so the bank became the latest British lender to boost staff pay, as the country grapples with inflation levels not seen in 40 years.The one-off payment will apply to certain low pay grade jobs, the memo said, adding it was needed to help ensure staff ""avoid financial hardship"".Register now for FREE unlimited access to Reuters.comHSBC earlier on Monday reported better-than-expected profits and raised its outlook for returns, as rising interest rates lift its revenues.Rivals NatWest, Barclays and Lloyds have also all handed thousands of their staff either a one-off payment or a raise to help them cope.Employee union Unite welcomed HSBC's move, adding: ""The union will continue to campaign to ensure all staff receive a fully-consolidated pay increase to ensure pay rates keep up with living costs.""HSBC will consider the longer-term impact of inflation for all staff later as part of its regular annual pay review, the memo said.($1 = 0.8195 pounds)Register now for FREE unlimited access to Reuters.comReporting By Lawrence White, additional reporting by Iain Withers, Editing by Barbara LewisOur Standards: The Thomson Reuters Trust Principles.",HSBC set to pay some UK staff 1500 pounds to combat cost of living crisis.
"Google CEO Sundar Pichai speaks on stage during the annual Google I/O developers conference in Mountain View, California, May 8, 2018.Stephen Lam | ReutersGoogle is launching a new effort called ""Simplicity Sprint"" in an effort to improve efficiency and improve employee focus during an uncertain economic environment.The Alphabet company had its regular all-hands meeting last Wednesday, and the tone was somewhat urgent as employees expressed concern over layoffs and CEO Sundar Pichai asked employees for input, according to attendees and related internal documentation viewed by CNBC. Google’s productivity as a company isn’t where it needs to be even with the head count it has, Pichai told employees in the meeting.“I wanted to give some additional context following our earnings results, and ask for your help as well,” Pichai opened, referring to the company's second-quarter earnings report Tuesday. ""It’s clear we are facing a challenging macro environment with more uncertainty ahead.""He added, ""There are real concerns that our productivity as a whole is not where it needs to be for the head count we have."" He asked employees to help ""create a culture that is more mission-focused, more focused on our products, more customer focused. We should think about how we can minimize distractions and really raise the bar on both product excellence and productivity.”It comes after the company on Tuesday reported its second consecutive quarter of weaker-than-expected earnings and revenue. Revenue growth slowed to 13% in the quarter from 62% a year earlier, when the company was benefiting from the post-Covid pandemic reopening and consumer spending was on the rise. CFO Ruth Porat said she expected some of the challenges to continue in the near term but the company doesn't give formal guidance.It also comes after Pichai recently announced that it would slow the pace of hiring and investments through 2023, asking employees to work “with greater urgency” and “more hunger” than shown “on sunnier days.""‘Simplicity Sprint’“I would love to get all your help,” Pichai said at Wednesday's all-hands meeting, speaking to its more than 170,000 full-time employees.To that end, Pichai introduced a ""Simplicity Sprint"" initiative to crowdsource ideas for quicker product development. ""Sprint"" is a term often used in software development and by tech startups to denote short, focused pushes toward a common goal.Pichai said the company is opening the floor for employees to share their ideas through Aug. 15 through an internal survey that asks if management can reach out if they have follow-up questions.Stock picks and investing trends from CNBC Pro:It’s an attempt for the company to “get better results faster,"" Pichai said during the meeting. The survey, which was viewed by CNBC, shows it may also be used to cut back in certain areas.Questions in the survey include “What would help you work with greater clarity and efficiency to serve our users and customers? Where should we remove speed bumps to get to better results faster? How do we eliminate waste and stay entrepreneurial and focused as we grow?”The request also comes as the company tries to ease tensions between employees and executives after an annual “Googlegeist” survey showed staffers gave the company particularly poor marks on pay, promotions and execution.Highlighting a 7% dip in views about Google’s execution, executive Prabhakar Raghavan at the time wrote “that means we need to bring more attention to busting bureaucracy."" Raghavan is among the most important and influential execs at the company, overseeing search, ads, mapping and other areas.In May, the company announced it would overhaul its performance evaluation process that will result in increased salaries while hoping to reduce the bureaucracy around compensation and raises.‘Some anxiety’In Wednesday's all-hands meeting, executives addressed employees' concern about potential layoffs. One of the top-rated questions was “In light of Sundar’s statement that sharpening Google’s focus ‘means consolidating where investments overlap and streamlining processes,’ should we expect layoffs?”Pichai handed the question off to Google’s chief people officer, Fiona Cicconi.While Cicconi said the company is still hiring and doesn't have plans for layoffs right now, she didn’t rule it out.“We’re asking teams to be more focused and efficient and we’re working out what that means as a company as well. Even though we can’t be sure of the economy in the future, we're not currently looking to reduce Google's overall workforce.""She also said, “I really get that there is some anxiety around this based on what we’re hearing from other companies and what they’re doing and as Sundar mentioned, we’re still hiring for critical roles,” Cicconi said. She asked employees to remember that it’s still the biggest hiring year in the company’s history.In the second quarter, Alphabet said its head count rose 21% to 174,014 full-time employees from 144,056 the year prior. However, the company said last month it will slow the pace of hiring and investments through 2023, and Pichai told employees in a memo, ""we're not immune to economic headwinds.""Pichai noted the broader economic headwinds multiple times. “If you’re looking to what's happening externally — I’m sure you’re all reading the news— the people in businesses who uses Google products are facing their own challenges right now.”","Google CEO tells employees productivity and focus must improve, launches 'Simplicity Sprint' to gather employee feedback on efficiency."
"Author Stephen King speaks at a news conference in New York, February 9, 2009. REUTERS/Mike Segar/File PhotoRegister now for FREE unlimited access to Reuters.comCompaniesWASHINGTON, Aug 1 (Reuters) - The U.S. Justice Department will ask a federal judge on Monday to block a $2.2 billion merger of two of the ""Big Five"" book publishers, Penguin Random House and Simon & Schuster, in a trial that is expected to feature testimony from horror writer Stephen King.Also on Monday, in the same federal courthouse in Washington, the Justice Department will argue before a different judge that UnitedHealth Group's (UNH.N) $8 billion deal to buy Change Healthcare (CHNG.O) should be stopped. read more In the publisher merger trial, the government has focused not on what consumers pay for books but on advances paid to the most successful authors, especially those given $250,000 or more.Register now for FREE unlimited access to Reuters.com""The evidence will show that the proposed merger would likely result in authors of anticipated top-selling books receiving smaller advances, meaning authors who labor for years over their manuscripts will be paid less for their efforts,"" the government said in a pretrial brief.The government also intends to show there was concern among the merging parties that the deal is not legal. It previously disclosed an email sent by Simon & Schuster CEO Jonathan Karp who wrote: ""I'm pretty sure the Department of Justice wouldn't allow Penguin Random House to buy us, but that's assuming we still have a Department of Justice.""King, author of ""The Shining,"" ""Carrie"" and other blockbusters, will testify for the government, along with publishing executives and authors' agents.Penguin Random House, the largest book publisher in the United States, said it planned to buy rival Simon & Schuster in November 2020. Penguin Random House is owned by German media conglomerate Bertelsmann (BTGGg.F). Simon & Schuster is owned by ViacomCBS, now Paramount Global (PARA.O). The Justice Department filed its lawsuit in November 2021. read more The defense, led by lawyer Daniel Petrocelli who defeated the Trump administration's 2018 bid to stop AT&T Inc (T.N) from buying Time Warner, will argue the market for books, and for publishers to win top-selling authors, is competitive and that the merger will make it even more so.The publishers will likely argue that the evidence shows that in bidding for potential bestsellers Penguin Random House and Simon & Schuster ""are rarely the top two bidders.""The top five publishers are Penguin Random House, HarperCollins, Macmillan, Simon & Schuster and Hachette, with Walt Disney Co (DIS.N) and Amazon.com Inc (AMZN.O) also in the market. HarperCollins is owned by News Corp (NWSA.O).Judge Florence Pan of the U.S. District Court for the District of Columbia will decide if the deal may go forward. The trial is expected to last two to three weeks.Register now for FREE unlimited access to Reuters.comReporting by Diane Bartz in Washington
Editing by David Shepardson and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.Diane BartzThomson ReutersFocused on U.S. antitrust as well as corporate regulation and legislation, with experience involving covering war in Bosnia, elections in Mexico and Nicaragua, as well as stories from Brazil, Chile, Cuba, El Salvador, Nigeria and Peru.",Stephen King goes to bat for U.S. gov't in case against book publishing mega-merger.
"Take a look at some of the biggest movers in the premarket:Boeing (BA) – Boeing defense workers will vote on a new proposed labor agreement on Wednesday, averting – for now – a strike that could have begun today. Separately, sources tell CNBC the Federal Aviation Administration has approved inspection protocol revisions that should allow the jet maker to resume deliveries of its 787 Dreamliner. Boeing shares jumped 5.4% in the premarket.Nio (NIO) – Nio rallied 3% in premarket action after the China-based electric car maker announced that it will open its first overseas plant in Europe in September. The plant will be located in Hungary and will make power products for the European market.Check Point Software (CHKP) – Check Point Software reported better-than-expected revenue and profit for its latest quarter, boosted by a surge in demand for its cybersecurity products amid a worldwide increase in cyberattacks. The stock dipped 4.7% in premarket trading.Alibaba (BABA) – Alibaba gained 1.6% in the premarket after saying it intended to work to keep its New York Stock Exchange listing. The Chinese e-commerce giant is on a list of companies that could be removed for not meeting auditing requirements. PerkinElmer (PKI) – The diagnostics and life sciences company rose 1.4% in the premarket after announcing plans to divest several non-core units to private-equity firm New Mountain Capital for $2.45 billion in cash. Separately, PerkinElmer reported better-than-expected sales and profit for the second quarter.Valvoline (VVV) – The automotive products company announced the sale of its global products business to Saudi Aramco for $2.65 billion in cash. Valvoline gained 2.4% in premarket action.Global Payments (GPN) – The payments technology company reported better-than-expected second-quarter profit and revenue, and also announced the acquisition of rival fintech company EVO Payments (EVOP) for $34 per share, or $4 billion in cash. Global Payments added 1.6% in the premarket while Evo Payments surged 19.6%.Edgewell Personal Care (EPC) – Edgewell recalled one of its Banana Boat sunscreen spray products after trace amounts of cancer-causing chemical benzene were found in some samples.Southern Co. (SO) – Chief Executive Officer Tom Fanning is expected to retire by the end of the year, according to people familiar with the matter who spoke to Bloomberg. Fanning is expected to remain with the utility company in some capacity after stepping down as CEO.","Stocks making the biggest moves in the premarket: Boeing, Nio, Check Point Software and more."
"A car is submerged in flood waters along Right Beaver Creek, following a day of heavy rain in in Garrett, Kentucky, July 28, 2022.Pat McDonogh | USA Today Network via via ReutersThe White House is making more than $1 billion available to states to address flooding and extreme heat exacerbated by climate change.Vice President Kamala Harris is set to announce the grant programs Monday at an event in Miami with the head of the Federal Emergency Management Agency and other officials. The competitive grants will help communities across the nation prepare for and respond to climate-related disasters.""We know that the impacts of the climate crisis are here, and that we must invest in building resilience to protect our communities, infrastructure and economy,'' the White House said in a statement.The announcement comes as the death toll from massive flooding in Kentucky continued to climb on Sunday amid a renewed threat of more heavy rains. In the West, wildfires in California and Montana exploded in size amid windy, hot conditions, encroaching on neighborhoods and forcing evacuation orders.Multiple Western states continued heat advisories amid a prolonged drought that has dried reservoirs and threatened communities across the region.Harris will visit the National Hurricane Center for a briefing by the National Oceanic and Atmospheric Administration and FEMA. She also will visit Florida International University, where she is expected to address extreme weather events across the country, including the flooding in Kentucky and Missouri and the wildfires in California.President Joe Biden announced last month that the administration will spend $2.3 billion to help communities cope with soaring temperatures through programs administered by FEMA, the Department of Health and Human Services and other agencies. The move doubles spending on the Building Resilient Infrastructure and Communities, or BRIC, program, which supports states, local communities, tribes and territories on projects to reduce climate-related hazards and prepare for natural disasters such as floods and wildfires.""Communities across our nation are experiencing first-hand the devastating impacts of the climate change and the related extreme weather events that follow — more energized hurricanes with deadlier storm surges, increased flooding and a wildfire season that's become a year-long threat,"" FEMA head Deanne Criswell said.The funding to be announced Monday will ""help to ensure that our most vulnerable communities are not left behind, with hundreds of millions of dollars ultimately going directly to the communities that need it most,'' Criswell said.A total of $1 billion will be made available through the BRIC program, with another $160 million to be offered for flood mitigation assistance, officials said.Jacksonville, Florida, was among cities that received money under the BRIC program last year. The city was awarded $23 million for flood mitigation and stormwater infrastructure. Jacksonville, the largest city in Florida, sits in a humid, subtropical region along the St. Johns River and Atlantic Ocean, making it vulnerable to flooding when stormwater basins reach capacity. The city experiences frequent flooding and is at risk for increased major storms.The South Florida Water Management District in Miami-Dade County received $50 million for flood mitigation and pump station repairs. Real estate development along the city's fast-growing waterfront has created a high-risk flood zone for communities in the city and put pressure on existing systems, making repairs to existing structures an urgent need, officials said.The Biden administration has launched a series of actions intended to reduce heat-related illness and protect public health, including a proposed workplace heat standard.","Vice President Kamala Harris to announce $1 billion to states for floods, extreme heat."
"Xpeng said it delivered 11,524 in July, a rise versus the same time last year, but slipping from June's figure. Xpeng had the highest deliveries out of its closest rivals Nio and Li Auto in July. Xpeng said it will begin accepting reservations for its new G9 SUV in August 2022.Chen Dongqiu | Visual China Group | Getty ImagesShares of Chinese electric vehicle startups Nio, Xpeng and Li Auto jumped in pre-market trade in the U.S. Monday after the companies posted a rise in July car deliveries.Nio said it delivered 10,052 vehicles in July, up 26.7%% year-on-year, but down from June's figure of almost 13,000 deliveries.Li Auto meanwhile said it delivered 10,422 of its Li ONE sports utility vehicle in July, up 21.3% year-over-year, but also slipping from June's figure.Xpeng delivered the most out of the trio of rivals. The Guangzhou, China-based firm said July deliveries totaled 11,524, up 40% year-on-year, but also falling from June's figure.All three carmakers were hit earlier this year by a resurgence of Covid-19 in China that led to lockdowns in major cities and manufacturing hubs across the world's second-largest economy. Automakers are also dealing with continued supply chain issues, component shortages and rising materials costs.Nio said that the production of its ET7 and EC6 vehicles in July was ""constrained"" by the supply of casting parts.The company said it ""has been working closely with supply chain partners and expects to accelerate vehicle production in the following months of the third quarter of 2022.""Xpeng and Li Auto did not mention any supply chain disruptions. Xpeng said it plans to begin accepting reservations for its new flagship G9 SUV in August, with an an official launch in September.Li Auto said that the 200,000th Li ONE rolled off the production line at its Changzhou factory on Monday, marking a milestone for the company.","Shares of Chinese EV makers Nio, Xpeng and Li Auto rise as July car deliveries jump."
"The first shipment of grain exports from Ukraine in months has departed from the port of Odesa, Ukraine's Infrastructure Minister Oleksandr Kubrakov confirmed and data from MarineTraffic.com showed.Meanwhile, Russia's President Vladimir Putin announced Sunday that the Russian Navy would soon be armed with Zircon hypersonic missiles.Ukraine's President Volodymyr Zelenskyy told Ukrainian civilians still living in the Donetsk region in eastern Ukraine to evacuate on Saturday.""The more people leave Donetsk region now, the fewer people the Russian army will have time to kill,"" Zelenskyy said in a video address Saturday.Russia says it has little ability to help with Nord Stream 1 repairView of pipe systems and shut-off devices at the gas receiving station of the Nord Stream 1 Baltic Sea pipeline.Picture Alliance | Picture Alliance | Getty ImagesThere is little Russia can do to help with urgent repairs required to malfunctioning Nord Stream 1 gas pipeline equipment, Kremlin spokesman Dmitry Peskov said on Monday.Russia cut gas supplies via Nord Stream 1, its main gas pipeline to Europe, to just 20% of capacity last week, saying that a turbine sent to Canada for maintenance had not yet come back and that other equipment also needed repair.This signalled a deepening of a row in which Moscow has cited turbine problems as its reason for cutting gas supply via the Nord Stream 1 pipeline. ""There are malfunctions which require urgent repairs and there are certain artificial difficulties which were caused by sanctions,"" Peskov said. — Reuters3 charts show Europe’s unprecedented natural gas crisisEurope is facing an unprecedented energy crisis that's pushing the economy closer into a recession and posing serious questions about the region's climate change ambitions.CNBC takes a look in three charts at how Russia is squeezing gas supplies to Europe and what this means for the future. Take a look here.— Silvia AmaroRussia likely to be reallocating forces to southern Ukraine, UK saysRussia is likely reallocating a significant number of its forces from the northern Donbas sector to southern Ukraine, Britain's Ministry of Defense said Monday, echoing comments by the Ukrainian authorities last week.""Russia is probably adjusting the operational design of its Donbas offensive after failing to make a decisive operational breakthrough under the plan it had been following since April,"" the ministry said on Twitter.""It has likely identified its Zaporizhzhia front as a vulnerable area in need of reinforcement.""The ministry noted that, over the last four days, Russia has continued to attempt tactical assaults on the Bakhmut axis, northeast of Donetsk, but had only managed to make slow progress.Several southern cities have experienced Russian shelling over the weekend, including Mykolaiv and Odesa.Houses in the Odesa region destroyed by Russian shelling.Sopa Images | Lightrocket | Getty ImagesOn Sunday evening, Ukraine's President Zelenskyy commented that ""now the Russian army is trying to strengthen its positions in the occupied areas of the south of our country, increasing activity in the relevant areas. Part of the Russian forces are transferred from their positions in the east to the south - to the Kherson region and the Zaporizhzhya region... But this will not help them there,"" he said, saying Ukraine's armed forces ""are ready to respond to any new activity of the occupiers.""— Holly EllyattThe body overseeing Ukraine grain exports says it's watching first shipment closelySierra Leone-flagged dry cargo ship Razoni departs from port of Odesa in Odessa, Ukraine on August 01, 2022 as part of a recent grain export deal signed between Turkey, the UN, Russia, and Ukraine and expected to reach Istanbul tomorrow.Anadolu Agency | Anadolu Agency | Getty ImagesThe Joint Coordination Centre, a body set up by Russia, Ukraine, Turkey and the United Nations to coordinate and oversee the shipments of vital produce from Ukraine, has said it is monitoring the safe passage of the merchant ship.A statement from the JCC on the so-called ""Black Sea Grain Initiative"" issued on Monday said it had ""authorised the M/V Razoni to sail from the port of Odesa today.""The JCC has agreed to the specific coordinates and restrictions of a humanitarian maritime corridor and has communicated those details in accordance with international navigation procedures, it said.It added that it ""has requested all its participants to inform their respective military and other relevant authorities of this decision to ensure the safe passage of the vessel.""The Razoni will carry over 26,000 metric tons of corn, the JCC said, and having left Odesa this morning it is estimated to arrive at the inspection location in Turkish territorial waters tomorrow, Aug. 2.Following inspection, it will proceed to its final destination in Tripoli, Lebanon. The JCC was agreed upon in late July and set up by Russia, Ukraine, Turkey and the U.N. in a bid to get vital exports, such as wheat, fertilizer and cooking oils, out of Ukraine after months of a blockade on Ukraine's ports. Ukraine blamed Russia for the blockade while Moscow blamed Ukraine for mining waters in the Black Sea that it said prevented shipping.The deal will see ships guided through such waters, through what the JCC terms ""the Safe Humanitarian Maritime Corridor."" Ukraine's infrastructure minister said the shipment would help to prevent world famine.— Holly EllyattPutin says Russia's navy will get new hypersonic missiles soonRussian President Vladimir Putin at the Navy Day Parade on July, 31 2022, in St. Petersburg, Russia. Planned Navy Day celebrations in Sevastopol in Russian-annexed Crimea were canceled on Sunday after officials accused Ukraine of carrying out a drone attack on the Black Sea Fleet's headquarters there, injuring five people.Contributor | Getty Images News | Getty ImagesRussia's President Vladimir Putin announced Sunday that the Russian Navy would soon be armed with Zircon hypersonic missiles.""We will provide protection firmly and by all means,"" Putin said in a speech Sunday to mark Russia's ""Navy Day,"" saying that ""the key thing here is the capability of the Russian Navy.""He said its combat readiness was ""constantly improving,"" adding that the latest Zircon hypersonic missile systems, ""which have no countertypes in the world and no barriers,"" would be added to the navy's arsenal.""Dear comrades, their delivery to the Russian armed forces will begin in the coming months,"" Putin remarked in a speech in St. Petersburg. Zircon missiles, intended for use by the Russian navy against enemy ships and ground targets, can purportedly fly at nine times the speed of sound and have a range of just over 600 miles.Putin said the area of their deployment would depend on Russian interests. He did not mention Ukraine in his speech.Planned Navy Day celebrations in Sevastopol in Russian-annexed Crimea were canceled on Sunday after officials accused Ukraine of carrying out a drone attack on the Black Sea Fleet's headquarters there, injuring five people.""An unidentified object flew into the courtyard of the fleet's headquarters,"" wrote Mikhail Razvozhayev, governor of Sevastopol — which is where Russia's Black Sea Fleet is stationed — on the Telegram messaging app.""According to preliminary information, it is a drone."" Ukraine has not officially commented on the explosion amid reports that it could have been a homemade device made by Ukrainian insurgents in the city.— Holly EllyattUkraine's first grain shipment in months departs from Odesa portThe first shipment of grain exports from Ukraine in months has departed from the port of Odesa, Ukraine's Infrastructure Minister Oleksandr Kubrakov confirmed and data from MarineTraffic.com showed.The Sierra Leone-flagged ship Razoni, which is loaded with corn, will head to Lebanon, Turkey's Defense Ministry said, according to a Reuters translation of a statement from the ministry.""As a result of the intense work the Joint Coordination Center in Istanbul and talks by (Turkish) Defense Minister Hulusi Akar, the ministers and relevant parties: It has been agreed that Sierra- Leone flagged and corn loaded Razoni dry cargo ship will leave Odesa port on 1 August 0830 am for Lebanon.""A port in the city of Odesa, Ukraine, on July 29 2022. The first shipment of grain exports from Ukraine in months comes after Turkey and the United Nations brokered an agreement between Ukraine and Russia to allow for the resumption of key exports from Ukraine, such as grain and fertilizer.The Washington Post | The Washington Post | Getty ImagesThe shipment comes after Turkey and the United Nations brokered an agreement between Ukraine and Russia to allow for the resumption of key exports from Ukraine, such as grain and fertilizer, of which both countries are key producers.The deal aims to allow safe passage for grain shipments in and out of the ports of Chornomorsk, Odesa and Pivdennyi. More ships are expected to leave Ukraine in the coming days.— Holly EllyattUkrainian grain tycoon killed during shelling of MykolaivOne of Ukraine's richest men, the agricultural tycoon Oleksiy Vadatursky, and his wife Raisa died during Russian shelling of the southern city of Mykolaiv this weekend.Video footage released by the local emergency services on Sunday showed firefighters tackling burning buildings after heavy shelling of the city, a key target for Russia's invading forces trying to make territorial gains in the south of Ukraine, on Saturday night into Sunday morning.Vadatursky, founder and owner of agriculture company Nibulon, and his wife were killed in their home, Mykolaiv Governor Vitaliy Kim said on Telegram.People receive clear water for drinking in Mykolaiv, on July 21, 2022, amid the Russian invasion of Ukraine.Bulent Kilic | AFP | Getty ImagesUkrainian President Volodymyr Zelenskyy offered his condolences to the family and friends of the businessman and his wife on Sunday evening, saying ""people like them, companies, and our Ukrainian south guaranteed the world's food security.""Zelenskyy went on to thank Mykolaiv residents for ""their indomitability and for protecting the city and the region,"" as well as other southern cities that have faced intense shelling in recent weeks.""I also thank Nikopol, Kharkiv, Kryvyi Rih and the entire Dnipropetrovsk region, the strong people of Zaporozhzhia and the region, all Ukrainians of the Kherson region, everyone who defends the approaches to Odesa and the region... Thank you for your courage,"" he said.— Holly EllyattZelenskyy urges civilians to leave Donetsk as Russians look to advanceUkraine's President Volodymyr Zelenskyy told Ukrainian civilians still living in the Donetsk region in eastern Ukraine to evacuate on Saturday.Russia's bombardment of cities and settlements in the area has become intense over recent weeks as its forces look to advance after capturing neighboring Luhansk, with both regions making up the Donbas in the east.""The more people leave Donetsk region now, the fewer people the Russian army will have time to kill,"" Zelenskyy said in a video address Saturday. ""We will use all available opportunities to save as many lives as possible,"" he added.— Holly Ellyatt",Ukraine’s first grain shipment in months leaves port; Putin says navy will be armed with hypersonic missiles.
"Pope Francis waves as he leads the Angelus prayer from his window, at the Vatican July 31, 2022. Vatican Media/Handout via REUTERSRegister now for FREE unlimited access to Reuters.comVATICAN CITY, Aug 1 (Reuters) - The Vatican said on Monday that Pope Francis will travel to Kazakhstan in September for a meeting of religious leaders, a gathering where the pope has said previously he hoped to meet with the Patriarch of the Russian Orthodox Church.In a statement, the Vatican said Francis would be in the capital Nur-Sultan Sept. 13-15 to attend the VII Congress of Leaders of World and Traditional Religions.Francis has said in several recent interviews that he hopes to meet there with Kirill, the patriarch of the Russian Orthodox Church.Register now for FREE unlimited access to Reuters.comThe Vatican statement announcing the trip did not mention Kirill. The statement was released in Russian as well as Italian and English. Kazakh and Russian are the country's two official languages.Kirill has given his full-throated backing to Russia's invasion of Ukraine.Francis had planned to meet Kirill last month in Jerusalem after a trip to Lebanon but both were called off.The late Pope John Paul II visited the Kazakh capital in 2001, when it was known as Astana.Register now for FREE unlimited access to Reuters.comReporting by Philip Pullella; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",Vatican says pope to go to Kazakhstan; expected to meet Russian Orthodox patriarch.
"Saudi Aramco logo is pictured at the oil facility in Abqaiq, Saudi Arabia October 12, 2019. REUTERS/Maxim ShemetovRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Valvoline Inc (VVV.N) said on Monday it would sell its global products business to oil giant Saudi Aramco (2222.SE) for $2.65 billion in cash as the motor oil maker sharpens focus on its retail services unit.Valvoline's global products unit sells lubricants, coolants and other preventive maintenance products for light- and heavy-duty vehicles.The company had last year decided to separate its retail services and global products divisions following a strategic review.Valvoline said it expects to use the majority of cash from the deal to accelerate share repurchases, reduce debt and invest in its the retail services business.Register now for FREE unlimited access to Reuters.comReporting by Rithika Krishna in Bengaluru; Editing by Aditya SoniOur Standards: The Thomson Reuters Trust Principles.",Valvoline to sell lubricant business to Saudi Aramco for $2.65 bln.
"Test tubes labeled ""Monkeypox virus positive and negative"" are seen in this illustration taken May 23, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comKOCHI, India, Aug 1 (Reuters) - India confirmed its first monkeypox death on Monday, a young man in the southern state of Kerala, in what is only the fourth known fatality from the disease in the current outbreak.Last week, Spain reported two monkeypox-related deaths and Brazil its first. The death in India is also the first in Asia. The World Health Organization declared the outbreak a global health emergency on July 23.The 22-year-old Indian man died on Saturday, Kerala's revenue minister told reporters, adding that the government had isolated 21 people who had come in contact with him.Register now for FREE unlimited access to Reuters.com""The person reached Kerala on July 21 but visited a hospital only on July 26 when he displayed fatigue and fever,"" Minister K. Rajan said, adding that there was no reason to panic as none of the primary contacts were showing symptoms.Kerala's health minister, Veena George, told reporters on Sunday that the man's family told authorities the previous day that he had tested positive in the United Arab Emirates before returning to India.India's federal health ministry had no comment on the death, except for saying that the government had formed a task force of senior officials to monitor monkeypox cases in the country, where local media have reported at least five infections.The WHO said late last month 78 countries had reported more than 18,000 cases of monkeypox, the majority in Europe.It says the monkeypox virus causes a disease with less severe symptoms than smallpox and occurs mainly in central and west Africa. The disease is transmitted from animals to humans.Human-to-human transmission happens through contact with bodily fluids, lesions on the skin or on internal mucosal surfaces, such as in the mouth or throat, respiratory droplets and contaminated objects.Register now for FREE unlimited access to Reuters.comReporting by Jose Devasia in Kochi and Chris Thomas in Bengaluru; writing by Krishna N. Das; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",India confirms Asia's first monkeypox death.
"U.S. August 1, 2022 / 6:26 AM / CBS/AP Sunken treasure from ""Ship of Gold"" Sunken treasure from ""Ship of Gold"" to be on display 05:14 A mysterious daguerreotype of a woman and a pair of jeans possibly made by Levi Strauss himself are among nearly 1,000 Gold Rush-era treasures recovered from the fabled ""Ship of Gold"" now on display in Reno, Nevada.Since their recovery between the late 1980s and 2014, the remarkable findings extracted from the sunken S.S. Central America have been in secret storage. This week, they began a national tour at the National Antique Bottle Convention from Thursday through Sunday at the Grand Sierra Resort.This is the first public exhibition of the artifacts, which will be auctioned off later this year, the Reno Gazette Journal reported. Watch: Learn about the recovered sunken treasure from the S.S. Central America https://t.co/OTH8JmYGn1— RGJ.com (@rgj) July 27, 2022 Among the notable recovered items are the lid to the oldest known Wells Fargo treasure shipment box; 1857 clothing, including a pair of the earliest known Gold Rush-era canvas work pants jeans with a button fly that may have been made by Strauss in his early years in business; and jewelry made from California Gold Rush ""mother lode"" native gold in quartz as gemstones, according to Fred Holabird, president of Holabird Western Americana Collections in Reno. One daguerreotype metal plate photograph of an unidentified young woman was nicknamed, ""Mona Lisa of the Deep,"" by the recovery team that retrieved the mysterious photo from the seabed where it was discovered in a pile of the ship's coal.""There is even a key to the ship's wine storage room and an S.S. Central America brass name tag attached to a set of keys that belonged to the ship's purser. We believe these were for the locked room where the gold treasure cargo was kept,"" Holabird said in a press release. Other items recovered include pistols; brass luggage tags; passengers' ticket receipts; galley utensils and dishes; ornate, flint glass wine and spirits decanters that appear to have been a standard amenity in the first-class staterooms; eyeglasses in solid gold frames; and chewing tobacco in a pouch apparently from the 1851 London World's Fair, Holabird said.While laden with booty, the S.S. Central America shipwreck was also a deep sea gravesite.The ship sank 7,200 feet deep in the Atlantic Ocean during a hurricane on September 12, 1857. The ship was on a voyage from Panama to New York carrying tons of California Gold Rush coins, ingots, and gold dust from the San Francisco and Northern California area.Of the 578 passengers and crewmembers, 425 died and the loss of the gold cargo was a major factor in the economically devastating financial Panic of 1857 in the United States, according to a recent press release. Recovery from the shipwreck site of what has been described as ""America's greatest treasure"" occurred in several stages between 1988 through 1991 and again in 2014, but it was sullied by scandal in recent years.Tommy Thompson, a deep-sea explorer who found the shipwreck in 1988, has been in federal prison for six years because he refuses to answer questions about the whereabouts of 500 gold coins. He also evaded investors who funded his venture and was a fugitive for two years. In this November 1989 file photo, Tommy Thompson holds a $50 pioneer gold piece retrieved earlier in 1989 from the wreck of the gold ship SS Central America. (Source: The Columbus Dispatch, Lon Horwedel/AP Photo) Thompson has said, without providing details, that the coins - valued at about $2.5 million - were turned over to a trust in Belize. After a federal judge ordered Thompson in 2012 to appear in court to disclose the coins' whereabouts, Thompson fled to Florida where he lived with his longtime female companion at a hotel where he was living near Boca Raton. U.S. marshals tracked him down and arrested him in early 2015.The items on display during the upcoming convention were kept in storage in three different states: Maryland, Massachusetts, and Ohio, until a court-approved settlement was reached ending a decades-long ownership dispute.Scientist Bob Evans, who was on each of the recovery missions, will be at the exhibit in Reno to talk to visitors about the ""Ship of Gold"" and the recovered Gold Rush artifacts.""This was a largely forgotten moment in American history because a few short years after that, the Civil War broke out,"" Evans told CBS News in 2018. The items will be offered in public auctions in October and November by Holabird Western Americana Collections. Currently, California Gold Marketing Group of Brea, Calif. owns the antiques. In January, one of the largest S.S. Central America ingots ever offered at auction, an 866.19-ounce find known as a Justh & Hunter ingot, sold for $2.16 million through Dallas-based Heritage Auctions. A few of the 45 historic Gold Rush-era ingots recovered from the SS Central America in 2014.  Phil Arnold/Professional Coin Grading Service ""Given that Justh & Hunter bars recovered from the S.S. Central America numbered 86 ingots of varying sizes, their experience and integrity ranked them among the most trusted and well-run assay establishments of the momentous Gold Rush era,"" Heritage Auctions said. Treasure from the  S.S. Central America has fetched millions of dollars over the years. In 2019, multiple relics from the shipwreck hauled in more than $11 at auction. In 2001, an 80-pound ingot was bought by a private collector for a record $8 million. Depiction of the sinking ship, SS Central America, the steamer that sank in 1857 off the coast of South Carolina with several tons of gold aboard. The Columbus Exploration group found the shipwreck in 1988 and brought up some of the gold from 1988 to 1991. Now a second company, Odyssey Marine Exploration, is headed out to the shipwreck to recovery the rest during the summer of 2014. Odyssey Marine Exploration In: Shipwreck Nevada Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue","Treasures from legendary 1857 ""Ship of Gold"" shipwreck unveiled in Nevada."
"The Bank of England (BoE) building is reflected in a sign, London, Britain, December 16, 2021. REUTERS/Toby MelvilleRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - The Bank of England says it will act forcefully if needed to stop the surge in inflation from turning into a long-term problem, meaning it could deliver a rare half-percentage point interest rate rise as soon as this week.Here are some of the things that Governor Andrew Bailey and his colleagues will be looking as they assess the persistence of inflation pressures ahead of their next scheduled monetary policy announcement at 1100 GMT on Thursday. read more Measures of inflation expectations and prices charged by companies have slowed recently but core pay has risen.Register now for FREE unlimited access to Reuters.comBoE's rate-setters might feel that they should raise rates by 50 basis points after other central banks pushed up borrowing costs sharply in recent weeks, despite the risk of an economic slowdown or a recession.INFLATION EXPECTATIONSBritain's main inflation measure hit a 40-year high of 9.4% in June, prompting some economists to push up their forecast for inflation's peak to 12%. But central banks typically worry just as much about expectations for future inflation.The BoE might take some comfort from a recent drop in how much consumers think prices will rise in the years ahead.A survey by U.S. bank Citi and pollsters YouGov published on Monday showed expectations among the public for inflation in five to 10 years - the measure the BoE looks at most - fell in July for the third time in four months, although at 3.8% it remained high by historical standards. read more Another survey by Bank of America published on July 12 showed five-year inflation expectations falling to their lowest in almost a year. read more A measure of expectations in financial markets for inflation in five to 10 years' time hit its lowest since April 2020 last week but has risen since then.Reuters Graphics Reuters GraphicsPAY INCREASESIf high inflation expectations become entrenched, they could lead to higher pay demands that may in turn fuel more inflation in future.Growth in salaries has accelerated but much of the increase is due to one-off bonuses to attract or retain staff as employers struggle to find candidates to fill their jobs.Pay including bonuses grew by 6.2% in the three months to May, up from about 3% just before the COVID-19 pandemic but down from the two previous monthly readings and lagging inflation.Regular pay growth edged up to 4.3%, above its immediate pre-pandemic levels of around 3-4%.The BoE's own survey of employers showed expectations for pay growth in the 12 months ahead rose to 5.1% in June from 4.8% in May. But the survey also showed expectations for employment over the next 12 months fell to their lowest in over a year.Reuters GraphicsPRICING PLANSAs well as via pay, high inflation could also become embedded in the economy if companies keep on pushing up their prices in response to rising costs.Increases in prices charged by firms, as measured by the S&P Global/CIPS Purchasing Managers Index, rose by the most since records began in 1999 in April. But that pace, while still high by historical standards, slowed a bit in May and June and cooled more significantly in July.Separate data from the Office for National Statistics has shown a fall in early July in the proportion of businesses expecting to increase their prices. read more Reuters GraphicsRegister now for FREE unlimited access to Reuters.comWriting by William Schomberg; graphics by Vincent Flasseur; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Bank of England probes the persistence of UK's inflation surge.
"HSBC CEO Noel Quinn attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves HermanRegister now for FREE unlimited access to Reuters.comHONG KONG, Aug 1 (Reuters Breakingviews) - Sometimes a consolation prize can be as good as winning. HSBC (HSBA.L), (0005.HK) on Monday laid out the case for keeping its global network, rebuffing a breakup call from top shareholder Ping An (601318.SS). At the same time, the $125 billion bank promised higher returns and punchier dividend payouts. Rising global interest rates make those pledges easier to achieve. But if the Chinese insurer’s surprise activism has spurred HSBC to raise its game, all shareholders benefit.The Asia-focused lender predicted it would earn a return on tangible equity of at least 12% from next year, up from 10%, and expects to pay out 50% of net profit to shareholders for two years starting in 2023. Given HSBC’s cost of capital of roughly 10%, the higher return target might not sound that ambitious. However, the bank hasn’t hit that level for at least a decade.Ping An’s April call for HSBC to separate its Asian and western operations has a simplistic appeal. Carving out a business regulated in Asia resonates with small Hong Kong shareholders still furious about the decision, enforced by the Bank of England, to suspend dividends at the height of the pandemic. Supporters point to the higher valuations given to Asia-centric lenders such as Singapore-based DBS (DBSM.SI). It’s also hard for HSBC to disagree publicly with its largest shareholder, even if other big investors have so far remained silent.Register now for FREE unlimited access to Reuters.comHSBC boss Noel Quinn didn’t mention Ping An by name on Monday when he listed the risks of a split, from potentially jeopardising the bank’s licences to clear U.S. dollar transactions, to higher taxes and capital charges. He also offered more detail on the benefits of HSBC’s 63-country network: nearly half the bank’s business with wholesale clients crosses a border, for example. More data on the profitability of that activity should reinforce Quinn’s case.Ping An picked a bad moment to go public. After more than a decade of ultra-low interest rates, HSBC is benefiting from rising borrowing costs. Quinn expects the bank’s net income to hit $37 billion next year, one-sixth higher than in 2022. Including a near 6% jump on Monday morning, HSBC’s shares have gained 37% in a year, making it one of the best performing global banking titans. Yet the stock still trades at less than 90% of the bank’s tangible net asset value per share at the end of June. If Quinn hits his return target, Ping An will get the better valuation it seeks without the hassle of a breakup.Follow @JennHughes13 on TwitterCONTEXT NEWSHSBC on Aug. 1 lifted its key returns target and pledged to raise its dividend payout as it rebuffed calls to demerge or spin off its Asian business.The global bank announced first-half net profit of $9.2 billion, down $1.7 billion year-on-year due to higher bad debt charges. However, the figures were better than expected by analysts.Chief Executive Noel Quinn raised HSBC’s target for return on tangible equity to 12% from 2023, from a previous goal of 10%. He also promised to pay out 50% of the bank’s earnings as dividends, and to resume quarterly dividend payments.Chinese insurer Ping An, HSBC’s largest shareholder, in April criticised the bank and called for it to consider a breakup to better realise the value in its Asia-focused operations.HSBC’s London-listed shares were up 5.6% at 5.43 pounds by 0815 GMT on Aug. 1.Register now for FREE unlimited access to Reuters.comEditing by Peter Thal Larsen and Oliver TaslicOur Standards: The Thomson Reuters Trust Principles.Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.",HSBC’s cross-border ties are paying dividends.
"Chairman of the Executive Board of the state technology corporation Rusnano Anatoly Chubais attends a session of the Gaidar Forum 2018 ""Russia and the World: values and virtues"" in Moscow, Russia January 17, 2018. REUTERS/Sergei KarpukhinRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Anatoly Chubais, who quit his post as a Kremlin special envoy due to the war in Ukraine, is being treated in intensive care in Europe for a rare immune disorder that attacks the nervous system, two sources close to Chubais told Reuters.Chubais, 67, thinks he is suffering from Guillain–Barre syndrome, a disease caused by the immune system damaging the peripheral nervous system, said the sources.""He thinks it's a disease,"" the first source told Reuters on condition of anonymity.""I don't think it is poisoning,"" said the second source, who also spoke on condition of anonymity.Register now for FREE unlimited access to Reuters.comEditing by Guy FaulconbridgeOur Standards: The Thomson Reuters Trust Principles.","Russia's Chubais ill with rare immune disorder, close sources say."
"World Updated on: August 1, 2022 / 5:26 AM / CBS/AP Grain shipments across Black Sea to resume Ukraine and Russia agree to resume grain supply shipments across Black Sea 03:19 Ankara, Turkey — The first ship carrying Ukrainian grain set off from the port of Odesa on Monday under an internationally brokered deal that's expected to release large stores of Ukrainian crops to foreign markets and ease a growing global hunger crisis.The Sierra Leone-flagged cargo ship Razoni left Odesa for Lebanon, Turkey's defense ministry said. A statement from the United Nations said the Razoni was carrying over 26,000 tons of corn. The Sierra Leone-flagged ship Razoni leaves Odesa on August 1, 2022.  UKRAINIAN NAVAL FORCES via Reuters The ship is expected to reach Istanbul on Tuesday, where it will be inspected, before being allowed to proceed, the Turkish ministry said. The corn will head to Lebanon, a tiny Mideast nation in the grips of what the World Bank has described as one of the world's worst financial crises in more than 150 years. A 2020 explosion at its main port in Beirut shattered its capital city and destroyed grain silos there.""The first grain ship since #RussianAggression has left port. Thanks to the support of all our partner countries & @UN we were able to full implement the Agreement signed in Istanbul,"" the Reuters news agency quoted Ukrainian Infrastructure Minister Alexander Kubrakov as tweeting. ""Today Ukraine, together with partners, is taking another step towards preventing world hunger,"" Kubrakov said adding it would also help Ukraine. ""Unlocking ports will provide at least $1 billion in foreign exchange revenue to the economy and an opportunity for the agricultural sector to plan for next year,"" he said.Agence France-Presse quotes Ukrainian Foreign Minister Dmytro Kuleba as calling the development a ""relief for the world.""""The day of relief for the world, especially for our friends in the Middle East, Asia, and Africa, as the first Ukrainian grain leaves Odesa after months of Russian blockade. Ukraine has always been a reliable partner and will remain one should Russia respect its part of the deal,"" Kuleba tweeted. The Kremlin called the departure ""very positive.""The Turkish ministry statement said other ships would also depart Ukraine's ports through the safe corridors in line with deals signed in Istanbul on July 22, but didn't provide further details. Russia and Ukraine signed separate agreements with Turkey and the U.N. clearing the way for Ukraine - one of the world's key breadbaskets - to export 22 million tons of grain and other agricultural goods that have been stuck in Black Sea ports because of Russia's invasion. The deals also allow Russia to exports grain and fertilizers.United Nations chief Antonio Guterres said in a statement he ""warmly welcomes"" the ship's departure. In: Ukraine Russia Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",First ship carrying Ukrainian grain since Russia invaded leaves Odesa.
"A woman wearing a protective face mask walks past a logo of HSBC bank at the financial and business district of La Defense near Paris, France May 11, 2020. REUTERS/Gonzalo Fuentes/Register now for FREE unlimited access to Reuters.comSummaryCompaniesHSBC to revert to paying quarterly dividends from 2023Aims to win over investors with higher profitability targetSays demerger of Asian business has huge risksLondon shares rise 6%LONDON/SINGAPORE, Aug 1 (Reuters) - HSBC (HSBA.L) pushed back on a proposal by top shareholder Ping An Insurance Group Co of China (601318.SS) to split the lender, a move Europe's biggest bank said would be costly, while posting profits that beat expectations and promising chunkier dividends.London-headquartered HSBC's comments on Monday represent its most direct defence yet since news of Ping An's proposal for carving out the lender's Asian operations broke in April. It comes ahead of HSBC's meeting with shareholders in Hong Kong on Tuesday where the Chinese insurer's proposal will be discussed.And in moves that pleased investors, HSBC raised its target for return on tangible equity, a key performance metric, to at least 12% from next year versus a 10% minimum flagged earlier. It also vowed to revert to paying quarterly dividends from early 2023.Register now for FREE unlimited access to Reuters.comHSBC's shares rose 6% in early London trade on Monday, the highest since end-June.""We have sympathy for Ping An and all our shareholders that our performance has not been where it needed to be for the last 10 years,"" Chief Executive Noel Quinn, who has run the bank for more than two years, told analysts.Asia is HSBC's biggest profit centre, with the region's share of the lender's profit rising to 69% in the first half from 64% a year ago.Without directly referencing Ping An by name in its earnings presentation earlier on Monday, HSBC said a break-up would mean a potential long-term hit to the bank's credit rating, tax bill and operating costs, and bring immediate risks in executing any spinoff or merger.""There would be a significant execution risk over a three to five year period when clients, employees and shareholders would all be distracted,"" Quinn said on the call, regarding the break-up proposal.Some investors in Hong Kong, HSBC's biggest market, have come out in support of Ping An's proposal. They have been upset after the lender cancelled its payout in 2020. read more Quinn said HSBC would aim to restore its dividend to pre-COVID-19 levels as soon as possible.Discussions with Ping An had been around purely commercial issues, the CEO said, in response to a question from a reporter about whether politics was influencing the Chinese investor's call for the bank to break up.HSBC has shared the findings of a review by external advisers into the validity of its strategy with its board, but will not publish them externally, Quinn told Reuters.He said HSBC had published detailed information on its international connectivity and revenue for all its shareholders to understand the value of the franchise and its strategies.Ping An, which has not confirmed or commented publicly on the break-up proposal, owns around 8.3% of HSBC's equity. A Ping An spokesperson declined to comment on HSBC's results and its strategy.EARNINGS BEATLast week, Europe's lenders offered some positive surprises on profits. read more Dual-listed HSBC followed in their footsteps, posting a pretax profit of $9.2 billion for the six months ended June 30, down from $10.84 billion a year ago but beating the $8.15 billion average estimate of analysts compiled by the bank.Quinn, under whose leadership HSBC has ploughed billions into Asia to drive growth, said the upgraded profitability guidance represented the bank's best returns in a decade and validated its international strategy.Instead of the break-up, HSBC will focus on accelerating the restructuring of its U.S. and European businesses, and will rely on its global network to drive profits, the lender said.Analysts at Citi said the new guidance implied earnings upside for HSBC. ""The beat this quarter could result in high single digit consolidated profit before tax upgrades,"" they said in a report. https://bit.ly/3BwBEXVHSBC is paying an interim dividend of 9 U.S. cents per share. It also said stock buybacks remain unlikely this year.It reported a $1.1 billion charge for expected credit losses, as heightened economic uncertainty and rising inflation put more of its borrowers into difficulties.Register now for FREE unlimited access to Reuters.comReporting by Anshuman Daga and Lawrence White; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.","HSBC hangs up on Ping An break-up call, lifts payout and profit goal."
"Formula One F1 - French Grand Prix - Circuit Paul Ricard, Le Castellet, France - July 21, 2022 Alpine's Fernando Alonso ahead of the French Grand Prix REUTERS/Sarah MeyssonnierRegister now for FREE unlimited access to Reuters.comSummaryDouble champion Alonso, 41, to race on with Aston MartinSpaniard takes seat of departing four times champion VettelAustralian Piastri expected to take Alonso's place at AlpineAug 1 (Reuters) - Two times Formula One world champion Fernando Alonso will race for Aston Martin from 2023 after the 41-year-old Spaniard signed a multi-year contract, the team announced on Monday.Alonso joins from Renault-owned Alpine as replacement for Germany's four times world champion Sebastian Vettel, 35, who last week announced his retirement at the end of the current season.The vacancy created at Alpine by the Spaniard's departure is expected to be filled in turn by that team's 21-year-old Australian reserve Oscar Piastri, last year's Formula Two champion.Register now for FREE unlimited access to Reuters.com""I still have the hunger and ambition to fight to be at the front, and I want to be part of an organisation that is committed to learn, develop and succeed,"" Alonso said in an Aston Martin statement.""The passion and desire to perform that I have witnessed convince me to maintain my enjoyment and commitment to the sport. I intend to win again in this sport and therefore I have to take the opportunities that feel right to me.""Alpine are fourth in the 10 team championship while Silverstone-based Aston Martin are ninth.Canadian billionaire owner Lawrence Stroll, whose son Lance also drives for Aston Martin, has invested heavily in the team, with a new factory being built and staff recruited from rival outfits.""I have known and admired Fernando for many years and it has always been clear that he is a committed winner like me,"" said Stroll.""I have set out to bring together the best people and develop the right resources and organisation to succeed in this highly competitive sport, and those plans are now taking shape at Silverstone.""""It seemed natural therefore to invite Fernando to be part of the development of a winning team.... It was logical and easy to confirm our desire to work together.""Team boss Mike Krack said the whole team was excited to work with Alonso, who won his titles with Renault in 2005 and 2006, and learn from his experience.Alonso has also raced for former champions McLaren and Ferrari in a Formula One career that started with Minardi (now AlphaTauri) in 2001.""We are confident that he will inspire everyone to lift their game,"" said Krack. ""We are on a journey to create a winning organisation, and it is clear that Fernando will accelerate our progress.""Register now for FREE unlimited access to Reuters.comReporting by Dhruv Munjal in Bengaluru/Alan Baldwin in London; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.",Alonso to race for Aston Martin from 2023 season.
"Memory chips by South Korean semiconductor supplier SK Hynix are seen on a circuit board of a computer in this illustration picture taken February 25, 2022. REUTERS/Florence Lo/Illustration/File PhotoRegister now for FREE unlimited access to Reuters.comWASHINGTON, Aug 1 (Reuters) - The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China's semiconductor sector advances and protect U.S. companies.If President Joe Biden's administration proceeds with the move, it could also hurt South Korean memory chip juggernauts Samsung Electronics Co Ltd (005930.KS) and SK Hynix Inc (000660.KS), the sources said, speaking on condition of anonymity. Samsung has two big factories in China while SK Hynix Inc is buying Intel Corp's (INTC.O) NAND flash memory chips manufacturing business in China.The crackdown, if approved, would involve barring the shipment of U.S. chipmaking equipment to factories in China that manufacture advanced NAND chips.Register now for FREE unlimited access to Reuters.comIt would mark the first U.S. bid through export controls to target Chinese production of memory chips without specialized military applications, representing a more expansive view of American national security, according to export control experts.The move also would seek to protect the only U.S. memory chip producers, Western Digital Corp (WDC.O) and Micron Technology Inc (MU.O), which together represent about a quarter of the NAND chips market.NAND chips store data in devices such as smartphones and personal computers and at data centers for the likes of Amazon (AMZN.O), Facebook and Google (GOOGL.O). How many gigabytes of data a phone or laptop can hold is determined by how many NAND chips it includes and how advanced they are.    Under the action being considered, U.S. officials would ban the export of tools to China used to make NAND chips with more than 128 layers, according to two of the sources. LAM Research Corp (LRCX.O) and Applied Materials (AMAT.O), both based in Silicon Valley, are the primary suppliers of such tools.All the sources described the administration's consideration of the matter as in the early stages, with no proposed regulations yet drafted.Asked to comment on the possible move, a spokesperson for the Commerce Department, which oversees export controls, did not discuss potential restrictions but noted that ""the Biden administration is focused on impairing (China's) efforts to manufacture advanced semiconductors to address significant national security risks to the United States.""FAST-GROWING COMPANYYMTC, founded in 2016, is a rising power in manufacturing NAND chips. Micron and Western Digital are under pressure from YMTC's low prices, as the White House wrote in a June 2021 report. YMTC's expansion and low-price offerings present ""a direct threat"" to Micron and Western Digital, that report said. The report described YMTC as China's ""national champion"" and the recipient of some $24 billion in Chinese subsidies.YMTC, already under investigation by the Commerce Department over whether it violated U.S. export controls by selling chips to Chinese telecoms company Huawei, is in talks with Apple Inc (AAPL.O) to supply the top U.S. smartphone maker with flash memory chips, according to a Bloomberg report.LAM Research Corp, SK Hynix and Micron declined comment on the U.S. policy. Samsung, Applied Materials Inc, YMTC and Western Digital Corp did not immediately respond to requests for comment.CONGRESS ACTSTensions between China and the United States over the tech sector deepened under Biden's predecessor Donald Trump and have continued since. Reuters reported on July 8 that Biden's administration is also considering restrictions on shipments to China of tools to make advanced logic chips, seeking to hamstring China's largest chipmaker, SMIC (0981.HK). read more The U.S. Congress last week approved legislation aimed at helping the United States compete with China by investing billions of dollars in domestic chip production. read more Chipmakers that take money under the measure would be prohibited from building or expanding manufacturing for certain advanced chips, including advanced memory chips at a level to be determined by the administration, in countries including China. read more According to Walt Coon of the consulting firm Yole Intelligence, YMTC accounts for about 5% of worldwide NAND flash memory chip production, almost double from a year ago. Western Digital stands at about 13% and Micron 11%. Coon said YMTC would be greatly hurt by restrictions like those that Biden's administration is contemplating.""If they were stuck at 128, I don't know how they would really have a path forward,"" Coon said.Production of NAND chips in China has grown to more than 23% of the worldwide total this year from under 14% in 2019, while production in the United States has decreased from 2.3% to 1.6% over the same period, Yole data showed. For the American companies, nearly all of their chip production is done overseas.It was unclear what impact the potential restrictions might have on other players in China. Intel, which retains a contract to manage operations in the factory it is selling to SK Hynix in China, is already producing memory chips with 144 layers at the Chinese site, according to an Intel press release.Register now for FREE unlimited access to Reuters.comReporting by Alexandra Alper and Karen Freifeld; Additional reporting by Stephen Nellis; Editing by Chris Sanders and Will DunhamOur Standards: The Thomson Reuters Trust Principles.",U.S. considers crackdown on memory chip makers in China.
"A robot adjusts a windscreen in a fully automated process at the Daimler factory in Rastatt, Germany, February 4, 2019. REUTERS/Kai Pfaffenbach/File PhotoRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 1 (Reuters) - Germany's manufacturing sector contracted in July for the first time in over two years, hurt by a deepening slump in new orders that darkens the outlook for Europe's largest economy, a survey showed on Monday.S&P Global's final Purchasing Managers' Index (PMI) for manufacturing, which accounts for about a fifth of Germany's economy, fell to 49.3 from 52.0 in June. A Reuters poll of analysts had pointed to a July reading of 49.2.An index of new orders came in at 40.1, dropping further below the 50 mark, which separates growth from contraction, and slumping to its lowest level since May 2020.Register now for FREE unlimited access to Reuters.com""The potential for a shortage in gas supplies has German manufacturers seriously worried about the outlook for production in the coming year,"" Phil Smith, Economics Associate Director at S&P Global Market Intelligence, said in a statement.""Goods producers' expectations turned negative back in March and have deteriorated in almost every month since as downside risks to the sector's outlook continue to build,"" he added.The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, pandemic and supply disruptions pushing it to the edge of contraction. read more The survey pointed to some relief on the inflation front, with the rate of input cost inflation across the manufacturing sector cooling for the third month running to the lowest since February 2021.Register now for FREE unlimited access to Reuters.comWriting by Paul Carrel; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",German manufacturing sector contracts as new orders slump - PMI.
"World August 1, 2022 / 5:13 AM / CBS/AFP House Speaker Nancy Pelosi kicked off an Asia tour Monday that's been shrouded in secrecy following an escalation in tensions with China over Taiwan. With no word on whether Pelosi will visit the island, she stopped first in Singapore, where Prime Minister Lee Hsien Loong urged her at a meeting to strive for ""stable"" ties with Beijing. Her itinerary also includes Malaysia, South Korea and Japan, but a possible Taiwan visit has dominated attention in the run-up. Reports about a plan to visit the island have enraged Beijing and caused unease in the White House, with President Joe Biden trying to lower the temperature between Washington and Beijing. Beijing considers self-ruled Taiwan its territory -- to be seized one day, by force if necessary -- and says it would regard a Pelosi visit as a major provocation. The Reuters news agency quotes Chinese foreign ministry spokesman Zhao Lijian as saying Monday it would be ""a gross interference in China's internal affairs"" if Pelosi were to stop in Taiwan. He warned it would result in ""very serious developments and consequences."" ""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing. House Speaker Nancy Pelosi shakes hands with Singapore's Prime Minister Lee Hsien Loong in Singapore on August 1, 2022.  Mohd Fyrol, Official Photographer / (Singapore) Ministry of Communications and Information / Handout via Reuters Pelosi's office confirmed her Asia trip in a statement Sunday once her plane was in the air, following days of U.S. media speculation and the speaker refusing to confirm her itinerary. ""The trip will focus on mutual security, economic partnership and democratic governance in the Indo-Pacific region,"" her office said, referring to the Asia-Pacific. The statement didn't mention Taiwan. But visits by US officials there are usually kept secret until delegations land. The Global Times, China's state-run tabloid, suggested Pelosi might use ""emergency excuses like an aircraft fault or refuelling"" to land at a Taiwanese airport. ""If she dares to stop in Taiwan, it will be the moment to ignite the powder keg of the situation in the Taiwan Straits,"" Hu Xijin, a former Global Times editor who's now commentator, tweeted.Taiwan's 23 million people have long lived with the possibility of an invasion, but the threat has intensified under Chinese President Xi Jinping. The United States maintains a policy of ""strategic ambiguity"" over whether it would militarily intervene were China to invade. While Washington diplomatically recognizes Beijing over Taipei, it also backs Taiwan's democratic government and opposes any forced change to the island's status. American officials often make discreet visits to Taiwan to show support, but a Pelosi trip would be higher-profile than any in recent history. Taiwan's government has remained silent on the prospect of a Pelosi visit and there's been minimal local press coverage. ""I really hate what the Chinese are doing,"" Hsu Ching-feng, a fruit vendor in Taipei, told Agence France-Presse. ""But there's nothing us common folks can do about it but ignore them. I will just ignore them.""As House speaker, Pelosi is third in line to the U.S. presidency and one of the country's most powerful politicians. The last House speaker to visit was Newt Gingrich in 1997.Mr. Biden and Xi had a tense phone call last week clouded by disagreements over Taiwan. Xi issued an oblique warning to the United States not to ""play with fire"" over the island. Speculation about Pelosi's Taiwan plans has coincided with an uptick in military activity across the region. U.S. officials have sought to downplay the significance of a Pelosi visit, urging calm from Chinese leaders. Kharis Templeman, a Taiwan expert at the Hoover Institution, said Beijing ""misread U.S. politics and screwed their signaling up"" with its intense reaction. ""They picked the wrong target. Biden doesn't control the Speaker or any other member of Congress,"" he tweeted Sunday. ""They've drawn the line at the Speaker of the House, on a visit rich in symbolism but of limited practical value. And now it will be politically costly for either Pelosi not to go, or Xi not to respond with something dramatic."" In Taiwan, there have been mixed views about the prospect of Pelosi visiting, but figures from both the ruling party and the main opposition have said the island should not cave to Chinese pressure. ""If Pelosi were to cancel or postpone the trip, it would be a victory for the Chinese government and for Xi as it would show that the pressure it has exerted has achieved some desired effects,"" Hung Chin-fu, from Taiwan's National Cheng Kung University, told AFP. In: Taiwan Joe Biden Nancy Pelosi China","As Pelosi starts Asia tour, China warns of military action if she visits Taiwan."
"Flags are seen outside the Association of Southeast Asian Nations (ASEAN) secretariat building, ahead of the ASEAN leaders' meeting in Jakarta, Indonesia, April 23, 2021. REUTERS/Willy KurniawanRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Myanmar will not be represented at an international gathering of foreign ministers in Cambodia this week, a spokesperson for the ASEAN chair said on Monday, after its military rulers declined a proposal to send a non-junta representative instead.The Southeast Asian bloc ASEAN has since late last year barred the Myanmar junta from joining its meetings due to its lack of progress in implementing an ASEAN peace plan its generals agreed to after a coup in February 2021.Register now for FREE unlimited access to Reuters.comReporting by Reuters Staff; Writing by Martin Petty; Editing by Ed DaviesOur Standards: The Thomson Reuters Trust Principles.","No Myanmar representation at ASEAN-led meeting, chair says."
"Supporters of Kenya's opposition leader and presidential candidate Raila Odinga of the Azimio la Umoja (Declaration of Unity) party attend a campaign rally ahead of the forthcoming general election, in the Rift Valley town of Suswa, Narok county, Kenya July 30, 2022. REUTERS/Thomas Mukoya/File PhotoRegister now for FREE unlimited access to Reuters.comNAIROBI, Aug 1 (Reuters) - Kenya has no intention of shutting down Facebook, which is owned by Meta (META.O), its ICT minister said on Monday after the national cohesion watchdog gave the platform seven days to comply with rules on hate speech or face suspension.The National Cohesion and Integration Commission (NCIC) on Friday accused Facebook of contravening Kenya's constitution and laws for failing to tackle hate speech and incitement on the platform ahead of Aug. 9 national elections. read more ""We do not have a plan to shut down any of these platforms,"" Joe Mucheru, the minister for information, communication and technology, told Reuters. ""Press freedom is one we cherish, whether it is (traditional) media or social media.""Register now for FREE unlimited access to Reuters.comHis statement echoed that of the interior minister, Fred Matiangi, who accused the NCIC of making haphazard decisions over the weekend, and vowed that the platform will not be shut down.""They (NCIC) should have consulted widely because they don't have the power to shut anybody down. They don't licence anybody,"" Mucheru said.When it issued its ultimatum, the NCIC said it was consulting with the Communication Authority of Kenya, which regulates the industry, adding that it would recommend suspension of Facebook's operations if it does not comply.Meta has taken ""extensive steps"" to weed out hate speech and inflammatory content, and it is intensifying those efforts ahead of the election, a company spokesperson told Reuters.Mucheru agreed, adding that the platform has deleted 37,000 hate speech related posts during the electioneering period.Supporters of the leading presidential candidates, veteran opposition leader Raila Odinga and deputy president William Ruto, have used social media platforms to praise their candidates, persuade others to join them or to accuse opposing sides of various misdeeds.Some of Kenya's 45 tribes have targeted each other during violence in past polls, but Mucheru said this election is different and the country is enjoying peace and calm in spite of the heightened political activities.Register now for FREE unlimited access to Reuters.comReporting by Duncan Miriri; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Kenyan ministers rally around Meta's Facebook after watchdog's ultimatum.
"World August 1, 2022 / 5:28 AM / AFP Tourists kayaking in the waters of the Milford Sound, Southland, New Zealand on March 12, 2020. Tourism was hit hard when the country's borders shut that month. Getty Images New Zealand's borders fully reopened Monday, but the return of international visitors and students is only expected to start with a trickle following the lifting of COVID-based travel restrictions. New Zealand reported 52,538 cases of the coronavirus over the last seven days, yet is ready to welcome back visitors.The final phase of its borders reopening began at midnight local time Sunday with the maritime border and with all overseas visitors allowed to submit visa applications.However, Tourism New Zealand chief executive Rene de Monchy anticipates business picking up slowly compared to pre-COVID levels. ""The return of international tourism is expected to take time as people across the globe gain travel confidence,"" he told AFP.""Tourism New Zealand is working hard to encourage visitation from key markets to boost the recovery of tourism and support the country's economy."" Tourism including visiting cruise liners, the first of which is expected to dock in Auckland around mid-August, and international students used to be big contributors to New Zealand's economy.Before COVID-19 struck, tourist spending generated NZ$40.9 billion (US$25.7 million) for the country's coffers over the 12 months up until March 2020.Over the same period, tourism made a direct contribution to New Zealand's gross domestic product (GDP) of $16.4 billion, which equates to 5.5 percent.While tourist officials hope the allure of New Zealand's spectacular scenery can entice visitors back, the education sector is hopeful foreign students will also return in pre-pandemic numbers. International students used to bring in around $5 billion per year, making it New Zealand's fourth largest export earner, but that figure plummeted in 2021.Before the pandemic struck, Auckland's Macleans College hosted about 300 foreign students.Principal Steven Hargreaves told Radio New Zealand he wished they could have accepted applications months ago so students could have started returning on Monday.""We've got a lot of catching up to do if we want to recapture what's so important for New Zealand,"" he warned. Thanks for reading CBS NEWS. Create your free account or log in for more features. Please enter email address to continue Please enter valid email address to continue",New Zealand fully reopens borders to international visitors for first time since COVID hit.
"Philippine President Ferdinand Marcos Jr. delivers his first State of the Nation Address, in Quezon City, Metro Manila, Philippines, July 25, 2022. Jam Sta Rosa/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comMANILA, Aug 1 (Reuters) - President Ferdinand Marcos Jr on Monday ruled out the Philippines rejoining the International Criminal Court (ICC), whose prosecutor plans to resume an investigation into the previous government's bloody ""war on drugs"".The Philippines withdrew from the ICC in 2019, with then President Rodrigo Duterte accusing it of prejudice by starting a preliminary examination into thousands of killings by police.""The Philippines has no intention of rejoining the ICC,"" Marcos told reporters, adding he met last week met with his legal team to discuss a resumption of the ICC investigation.Register now for FREE unlimited access to Reuters.comThe Hague-based ICC suspended its probe in November at the request of the Philippines, which said it was implementing its own investigations and prosecutions. read more According to the ICC rules, it has jurisdiction to investigate crimes committed while a country was a member, but only if its criminal justice system is unable or unwilling to do so itself.Prior to his election win in May, Marcos had indicated he would not support an ICC probe into alleged atrocities under Duterte, whose influential daughter Sara Duterte-Carpio was his running mate. She is currently vice president.Duterte won a 2016 election on promises to eradicate crime and kill thousands of drug dealers, following through with a ferocious crackdown during which official records show police killed 6,252 people, all in self-defence.Activists accuse police of executing drug pushers and users on a massive scale, however, with thousands of mysterious street killings not included in the official tally. Police and Duterte's government denied involvement and wrongdoing.Register now for FREE unlimited access to Reuters.comReporting by Neil Jerome Morales; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.",Marcos rules out Philippines rejoining ICC ahead of plan to resume probe.
"U.S. Ambassador to Japan Rahm Emanuel listens to a question during an interview with Reuters at the ambassador's residence in Tokyo, Japan, August 1, 2022. REUTERS/Issei KatoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesU.S. pursues 'commercial diplomacy', focus on chipsTokyo and Washington to set up joint chip R&D centreU.S. company looking at major Japan chip investmentTOKYO, Aug 1 (Reuters) - Chips, batteries and energy are key collaboration areas between the United States and Japan as the allies seek to secure supply chains and counter China, Washington's envoy to Tokyo said.Former Chicago mayor Rahm Emanuel has focused on ""commercial diplomacy"" since arriving as U.S. ambassador this year, pushing for business tie-ups in areas that have broader significance for economic security.One U.S. company is now looking at a ""major potential investment"" related to chips in Japan, in what would mark the latest collaboration between the countries on semiconductors, Emanuel told Reuters in an interview.Register now for FREE unlimited access to Reuters.comHe declined to elaborate or give a timeline.""Commercial diplomacy is a big piece of an overarching economic collaboration and coordination between the United States and Japan,"" Emanuel said on Monday.The two countries agreed on Friday to establish a new joint research centre for next-generation semiconductors.Japan has said it will provide as much as 92.9 billion yen ($700 million) to help U.S. firm Western Digital Corp (WDC.O) and partner Kioxia Holdings boost memory chip output at a Japanese plant. read more Meanwhile, Tesla supplier (TSLA.O) Panasonic Holdings Corp (6752.T) last month picked Kansas as the site for a new battery plant. That deal came together, Emanuel has said, after U.S. President Joe Biden talked with Panasonic executives while in Japan. read more The cooperation comes as China has used its economic strength to pressure other countries, Emanuel said.""There's a pattern here: if they don't like what you say politically, they put the muscle on you economically,"" he said, citing Japan's experience more than a decade ago when Beijing restricted rare earth export quotas after a territorial dispute.In a joint statement on Friday, ministers from the United States and Japan said they opposed ""economic coercion"", although they did not name a specific country.However, U.S. Secretary of State Antony Blinken said during a news briefing that ""the coercive and retaliatory economic practices of the People's Republic of China force countries into choices that compromise their security, their intellectual property, their economic independence."" read more China has repeatedly said it never uses economic coercion against any country and is firmly opposed to all forms of coercion, politically and diplomatically. It has accused Washington of engaging in economic coercion in the name of national security.Emanuel said that if a country is pressured by China, the United States needs to counter with ""economic incentives"", including using energy resources as a ""strategic asset"".Japan, the world's largest LNG buyer, is a growing market for U.S. natural gas. Between 2018 and 2021 Japanese imports of U.S. LNG more than doubled, Japanese government data shows. The advanced nuclear reactors known as small modular reactors (SMRs) are another area of collaboration.Emanuel declined to say whether U.S. House of Representatives Speaker Nancy Pelosi, who kicked off a tour of Asia on Monday, would visit Taiwan, the self-ruled island claimed by Beijing. read more Concerns about Chinese tensions with Taiwan, which makes the vast majority of semiconductors under 10 nanometres that are used in smartphones, have driven countries like the United States and Japan to step up investment in chip production.Emanuel said there also needed to be more investment in training skilled workers to support the chip industry.""We both have to invest in more scientists, more engineers and in workers to do this,"" he said.($1 = 132.5300 yen)Register now for FREE unlimited access to Reuters.comReporting by David Dolan and Yukiko Toyoda; Additional reporting by Yuka Obayashi; Editing by Alexander SmithOur Standards: The Thomson Reuters Trust Principles.","U.S. and Japan pursue commercial diplomacy to counter China, envoy to Tokyo says."
"BTS poses at the carpet during arrivals ahead of iHeartRadio Jingle Ball concert at The Forum, in Inglewood, California, U.S., December 3, 2021. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.comSEOUL, Aug 1 (Reuters) - K-pop boy band BTS might still be able to perform overseas while serving in the military, South Korea's defence minister said on Monday, as the country debates shortening mandatory military service for K-pop stars to three weeks from about two years.The issue is coming sharply into focus with the oldest member of band, Jin, turning 30 next year. Under a 2019 revision of the law, globally recognised K-pop stars were allowed to put off their service until 30.Military service is hugely controversial in South Korea where all able-bodied men aged between 18 and 28 must fulfil their duties as part of efforts to defend against nuclear-armed North Korea.Register now for FREE unlimited access to Reuters.comOver the years, some categories have won exemptions - either allowed to put off service or to do shorter service - including Olympics and Asian Games medal winners and classical musicians and dancers who win top prizes at certain competitions.Parliament is now debating a bill that would shorten military service for K-pop stars.Defence Minister Lee Jong-sup, speaking at the parliamentary session, said that by allowing BTS to continue performing, the military could serve national interests without affecting the already shrinking pool of personnel resources due to low birth rates.BTS' management, Big Hit, did not respond to a request for comment.""Even if they join the military, there would be a way to give them a chance to practise and perform together if there are scheduled concerts abroad,"" Lee said.""As many people highly value (artists serving) in the military, that may help boost their popularity even more.""The seven-member band announced a break in June from group musical activities to pursue solo projects, pleading exhaustion. read more In April, a Big Hit official said some members were having a ""hard time"" because of uncertainties over the parliament debate, calling for a decision.Since their 2013 debut, BTS have became a worldwide sensation with their upbeat hits and social campaigns aimed at empowering youth.BTS became the first Asian band to win artist of the year at the American Music Awards last year, and they met U.S. President Joe Biden at the White House in May to discuss hate crimes targeting Asians.A South Korean think tank estimated in 2018 that BTS would bring an economic benefit totalling 56 trillion won ($43 billion) between 2014 and 2023.(This story refiles to fix typo in first paragraph)Register now for FREE unlimited access to Reuters.comReporting by Hyonhee Shin; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.",K-pop's BTS may still be able to perform while doing military service - minister.
"Belarusian athlete Krystsina Tsimanouskaya talks with a police officer at Haneda international airport in Tokyo, Japan August 1, 2021. REUTERS/Issei Kato/File PhotoRegister now for FREE unlimited access to Reuters.comAug 1 (Reuters) - One year ago, sprinter Krystsina Tsimanouskaya's life was upended when she refused to board a plane back to her native Belarus after being kicked out of the Tokyo Olympics by her team.What began as a controversy over Tsimanouskaya's entry in the 4x400 metres relay snowballed into a defection that became one of the biggest stories of the Games and highlighted the pressure Belarusian athletes face for challenging authority.Forced out by her national team after criticising coaches for entering her in an event that was not her customary distance, Tsimanouskaya feared for her safety if she returned to Belarus and sought refuge in Poland.Register now for FREE unlimited access to Reuters.comShe is in the process of receiving Polish citizenship and the necessary documents to compete at national team level there.The 25-year-old also wants another chance to compete at the Olympics and hopes to run at the 2024 Paris Games in the 200m, the event she had been set to run the day after Belarus removed her from the team.""I'm disappointed that I didn't compete in the distance I had prepared for,"" Tsimanouskaya told Reuters in a video interview from her home in Warsaw.""But I'm not losing hope. I'm still training here. I dream of going back to the Olympics and this time run my distance and show decent results.""Tsimanouskaya has only been able to run in lower-level meets as she awaits citizenship and says she misses elite competition.""I'm grateful to Poland for having let me enter some competitions,"" she said. ""But as an athlete who competed at the Olympics, it was tough to realise that I now was running at competitions with children.""Belarusians and Russians are currently barred from competing at international athletics meets because of Moscow's actions in Ukraine.'NOT AFRAID'Tsimanouskaya became a symbol of resistance in Belarus, where opposition figures and those critical of the authorities have been prosecuted, jailed or fled since mass protests against leader Alexander Lukashenko in 2020.The protests, followed by a violent crackdown on demonstrators, erupted after Lukashenko seized a sixth presidential term in an election that observers say was rigged. He denies electoral fraud.""I didn't go to the Olympics to represent Lukashenko's authority,"" she said. ""I went to the Olympics to represent Belarus. And for me, Belarus does not equal Lukashenko or the authorities.""Tsimanouskaya is slowly building a new life for herself in Poland, where she plans to study and hopes to one day open a gym with her husband Arseni, a fitness trainer.She has also had her share of disappointments.In addition to being sidelined from international athletics as a Belarusian national, Tsimanouskaya said some who had pledged their support since her defection had not followed through.""I don't see myself as a hero, but maybe my actions will serve as an example for someone,"" she said.""Over time, my life has started to fall into place. I'm continuing my career and making plans for the future. It shows that people shouldn't be afraid.""Register now for FREE unlimited access to Reuters.comReporting by Reuters; Editing by Peter Rutherford Our Standards: The Thomson Reuters Trust Principles.","A year after Olympic defection, Belarusian sprinter dreams of 2024 Paris Games."
"A man reads the Global Times newspaper that features a front page article about U.S. House of Representatives Speaker Nancy Pelosi's Asia tour at a street display wall in Beijing, China, August 1, 2022. The front page headline reads: ""Pelosi visits Asia in the smell of gunpowder."" REUTERS/Thomas PeterRegister now for FREE unlimited access to Reuters.comSummaryBeijing reiterates firm warning against a Pelosi visit to TaiwanPelosi would be first U.S speaker to visit Taiwan since 1997Pelosi Asia trip to include Singapore, Malaysia, S.Korea, JapanTaiwan was not included on itinerary released SundaySINGAPORE, Aug 1 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi kicked off a closely-watched Asia tour on Monday in Singapore as China warned that its military would never ""sit idly by"" if she were to visit Taiwan, the self-ruled island claimed by Beijing.Amid widespread speculation over whether she would make a stop in Taiwan, Pelosi's office announced on Sunday that she was leading a Congressional delegation to the region that would include visits to Singapore, Malaysia, South Korea and Japan. It did not mention Taiwan.Chinese foreign ministry spokesman Zhao Lijian said that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""Register now for FREE unlimited access to Reuters.com""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.”China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is third in the line of succession to the presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing. Republican Newt Gingrich was the last House speaker to visit Taiwan, in 1997.During a phone call last Thursday, Chinese President Xi Jinping warned his U.S. counterpart Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait. read more On Monday, Taiwan Premier Su Tseng-chang did not directly respond when asked whether Pelosi will visit on Thursday, as local media have speculated.""We always warmly welcome visits to our country by distinguished foreign guests,"" he told reporters in Taipei.Shi Yinhong, an international relations professor at Renmin University in Beijing, said that if Pelosi visits Taiwan it would prompt the strongest counter-measures by Beijing in years, but he did not expect that to trigger major military conflict.""China has reiterated in no ambiguous terms its opposition to Taiwan separatism. The U.S. has reiterated many times its one-China policy has not changed and that it is against any change to the status quo by either side of the Taiwan Strait,"" he said.""Unless by accident, I am sure neither side would intentionally take military action that could lead to a major security risk.”SINGAPORE VISITOn Monday, Pelosi and her delegation met with Singapore Prime Minister Lee Hsien Loong, discussing issues including cross-strait relations, the Ukraine war and climate change, Singapore's foreign ministry said.""PM Lee highlighted the importance of stable US-China relations for regional peace and security,"" it said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now"".Register now for FREE unlimited access to Reuters.comReporting by Chen Lin in Singapore, Yimou Lee in Taipei, and Martin Quin Pollard and Yew Lun Tian in Beijing; Writing by Tony Munroe; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","As Pelosi begins Asia tour, China warns against visiting Taiwan."
"2023 Ford Maverick TremorSource: FordFord Motor is adding a new off-road-ready package to its Maverick pickup in a bid to extend the sales success of its hot-selling small truck.  The new Maverick Tremor package includes a beefed-up, higher-riding suspension and a new all-wheel-drive system system powered by Ford's 2-liter EcoBoost turbo four-cylinder engine. The package gives Maverick buyers access to an option that has proven popular on Ford's larger pickups, said Todd Eckert, manager of Ford's pickup marketing.""Ranger, F-150 and Super Duty customers have embraced"" the Tremor off-road packages that Ford has offered on those larger trucks, Eckert said. With the new Tremor package for Maverick, Ford aimed to bring similar off-road capabilities to the small truck while retaining its easy-to-park size and affordable price, he said.The Tremor package will cost about $3,000, and buyers will be able to order it starting in September.The Maverick has been a surprise hit for Ford, bringing new buyers to the brand drawn by its low price (it starts at about $21,000), its easy-to-park size (it's roughly the size of a Toyota Avalon sedan), and its standard hybrid drivetrain (good for 40 miles per gallon in city driving). Ford said in May that Mavericks spend just five days on dealer lots, on average, before being sold.The Maverick is also drawing new customers to the Ford brand — many of whom are buying their first-ever new vehicle. Ford said late last year that Maverick buyers are young, with about a quarter under 35. They're also more likely to be female: About 25% of Maverick buyers are women, versus just 16% of those who buy Ford's larger trucks.Through the end of June, Ford had sold about 52,000 Mavericks since the truck's launch last fall.",Ford is adding an off-road package to its hot-selling Maverick compact pickup.
"The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, July 29, 2022. REUTERS/StaffRegister now for FREE unlimited access to Reuters.comSummaryCompaniesEuro zone factory activity contracted in JulyGerman retail sales post biggest year-on-year slump since 1994HSBC rebuffs Ping An call for break-up, profit beatsEuropean banks jump 1.9%, STOXX 600 adds 0.2%Aug 1 (Reuters) - European shares edged up on Monday as a jump in banking stocks after HSBC's strong results offset fears of a global economic slowdown fanned by disappointing Chinese economic data and figures showing contraction in euro zone manufacturing activity.The pan-European STOXX 600 (.STOXX) rose 0.2% in volatile trade.The biggest boost to the index came from London-listed HSBC (HSBA.L) that jumped 5.7% on posting a profit that beat expectations. The company also pushed back on a proposal by top shareholder Ping An Insurance Group Co of China (601318.SS) to split the lender, arguing the move would be costly. read more Register now for FREE unlimited access to Reuters.comThe banking index (.SX7P) climbed 1.9%.""We've had a bit of a positive boost to the banking sector from the initial rising interest rates ... the problem for the sector is further down the road as we get the economic slowdown everybody is anticipating,"" said Stuart Cole, head macro economist at Equiti Capital.European stocks posted their best monthly performance on Friday since November 2020 helped by strong earnings from corporate Europe, even as broader sentiment remained fragile on fears of an economic slowdown.Adding to concerns the bloc could fall into a recession, data on Monday showed manufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand. read more ""The picture being painted is looking increasingly bleak for the EU, and a drill down of the numbers shows lower sales, declining rates of new orders and exports, and large rises in stocks,"" said Cole.""The expectation has to be that manufacturers will be cutting output further going forward.""In Germany, the powerhouse of the European economy, data showed retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine conflict and the pandemic take their toll. read more Heineken NV (HEIN.AS) slipped 0.9% as the world's second-largest brewer shelved its margin target for 2023 as costs spiked. read more Germany's DAX and Italy's FTSE MIB underperform European peersRegister now for FREE unlimited access to Reuters.comReporting by Bansari Mayur Kamdar in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.","European shares rise as banks, HSBC offset weak data."
"Liliane Cheaito, who is mostly paralyzed from August 2020 port blast holds her sister's hand at the American University of Beirut Medical Center (AUBMC) in Beirut, Lebanon July 26, 2022. REUTERS/Issam AbdallahRegister now for FREE unlimited access to Reuters.comBEIRUT, Aug 1 (Reuters) - Liliane Cheaito's scratchy, laboured breathing went on until a nurse appeared at her hospital bed, where the 28-year-old has spent nearly every moment of the last two years in silent suffering following the Beirut port explosion of 2020.Using a suctioning machine, the nurse emptied her lungs of built-up phlegm and Cheaito's heaving chest finally eased.But the quiet halls of the American University of Beirut's Medical Center – where she has lived since the Aug. 4, 2020 blast - have not shielded her from Lebanon's collapse.Register now for FREE unlimited access to Reuters.comInstead, Cheaito and her family are trapped in their country's multiple crises – from a deteriorating health sector that can no longer treat her to paralyzed government institutions and zombified banks that have frozen her family out of their savings.""Liliane represents the agony of the Lebanese people because she's suffering from all of this,"" her older sister Nassma told Reuters.She sustained severe damage to her frontal brain lobes that left her in a months-long coma and required three surgeries.In July, she uttered her first word in nearly two years – ""mama"" – understood by her siblings to be a cry for her toddler Ali, whom she has not seen since the explosion due to a custody dispute with her husband.Cheaito remains mostly paralyzed. She communicates by squeezing her eyes shut in affirmation or turning her bandaged head away slowly in denial.On good days she can manage a shaky wave with her left hand, linked to an intravenous drip with a half-dozen drugs.They include pain medications and a treatment for epilepsy that her sisters say is not available in Lebanon, where a three-year financial meltdown has hampered imports of many medicines.Her sisters ask friends and acquaintances coming in from abroad to bring the medications, paying for them in U.S. dollars that are hard to access as Lebanon's currency continues its devaluation.Cheaito's room on the ninth floor is stuffy, a small fan unable to clear the summer humidity. Like many homes and offices across Lebanon struggling to cope with cuts in the state grid and skyrocketing fuel prices, the hospital has been rationing its private diesel supply by limiting the hours of central air conditioning.But she will not be there much longer.AUB Medical Center informed the family in February that the in-house charity group covering the costs of Cheaito's stay could no longer afford to do so, and that she would have to move to a specialized rehabilitation center to pursue her treatment.""Those special centers are asking for money, and unfortunately we can't afford it – not even part of it – because our money is in the banks,"" said Nassma.Their older sister Nawal has around $20,000 saved in a U.S.-dollar currency account at Bank Audi that she wants to use on a treatment for Liliane.But since the financial crisis took hold in 2019, many of Lebanon's banks have frozen clients out of their hard currency through informal capital controls.They cap monthly cash withdrawals in U.S. dollars and allow other limited amounts to be withdrawn in Lebanese pounds at a rate much lower than the parallel market rate.The banks say the restrictions prevent banking runs, but critics say they do not apply to the rich and powerful.Successive governments have left the financial collapse to fester even as it has impoverished the bulk of the population.The vested interests of ruling factions - which managed to preserve their grip on power in a May election - are widely blamed for obstructing solutions.Cheaito's family and their lawyer claim the restrictions are hampering her recovery as withdrawing the funds at the bank's lower rate would slash their worth.It would ultimately represent an informal haircut of more than 80%, said Fouad Debs, co-founder of the Lebanese Depositors' Union.""Nawal has saved money, and now she needs the money to spend on Liliane but the bank...is not letting Nawal withdraw the money,"" Debs told Reuters.In response to emailed questions from Reuters, a Bank Audi spokesperson said: ""Restrictions are imposed by the Lebanese systemic crisis, not by Bank Audi.""The spokesperson said the bank was generally keen to provide ""exceptional support"" including to pay for medical care and said it ""never refrained from providing (Cheaito) any support it can,"" but did not say whether it had specifically allowed exceptional withdrawals for her family to pay for her care.The depositor's union has filed more than 350 lawsuits against Lebanese banks over the last three years, most of them by clients seeking unrestrained access to their savings for school tuition or healthcare.Some clients have won but many have yet to receive a ruling. Debs said Cheaito's case would be ""one of the most desperate"" – if only they could file the complaint.In another example of how Lebanon's meltdowns have impacted Cheaito, an open-ended strike in the court system means the union has been unable to file a complaint against Bank Audi for the last month.""It's a reflection of the collapse of the whole system,"" Debs said.Register now for FREE unlimited access to Reuters.comReporting and writing by Maya Gebeily; Editing by Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.","From blast to banking crisis, one woman embodies Lebanon's complete collapse."
"Head of Iran's Atomic Energy Organization Mohammad Eslami looks on during a news conference with International Atomic Energy Agency (IAEA) Director General Rafael Mariano Grossi as they meet in Tehran, Iran, March 5, 2022. WANA (West Asia News Agency) via REUTERSRegister now for FREE unlimited access to Reuters.comDUBAI, Aug 1 (Reuters) - Iran has the technical capability to produce an atomic bomb but has no intention of doing so, Mohammad Eslami, head of the country's atomic energy organisation, said on Monday, according to the semi-official Fars news agency.Eslami reiterated comments made by Kamal Kharrazi, a senior adviser to Supreme Leader Ayatollah Ali Khamenei, in July.Kharrazi's remarks amounted to a rare suggestion that the Islamic Republic might have an interest in nuclear weapons, which it has long denied seeking.Register now for FREE unlimited access to Reuters.com""As Mr. Kharrazi mentioned, Iran has the technical ability to build an atomic bomb, but such a program is not on the agenda,"" said Eslami.Iran is already enriching uranium to up to 60% fissile purity, far above a cap of 3.67% set under Tehran's now tattered 2015 nuclear deal with world powers. Uranium enriched to 90% is suitable for a nuclear bomb.In 2018, former U.S. President Donald Trump ditched the nuclear pact, under which Iran curbed its uranium enrichment work, a potential pathway to nuclear weapons, in exchange for relief from international economic sanctions.Iran has responded to top European Union diplomat Josep Borrell's proposal aimed at salvaging the nuclear accord, and seeks a swift conclusion to negotiations, the top Iranian nuclear negotiator said on Sunday.Borrell said he had proposed a new draft text to revive the deal.""After exchanging messages last week and reviewing the proposed texts, there is a possibility that in the near future we will be able to reach a conclusion about the timing of a new round of nuclear negotiations,"" Iranian foreign ministry spokesman Nasser Kanaani said.The broad outline of a revived deal was essentially agreed in March after 11 months of indirect talks in Vienna between Tehran and U.S. President Joe Biden administration.But talks then broke down over obstacles including Tehran's demand that Washington should give guarantees that no U.S. president will abandon the deal, the same way Trump did.Biden cannot promise this because the nuclear deal is a non-binding political understanding, not a legally binding treaty.Register now for FREE unlimited access to Reuters.comReporting by Dubai Newsroom
Writing by Michael Georgy
Editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.","Iran nuclear chief: We have technical means to produce atom bomb, no intention of doing so."
"The first shipment of grain exports from Ukraine in months has departed from the port of Odesa, Ukraine's Infrastructure Minister Oleksandr Kubrakov confirmed and data from MarineTraffic.com showed.Meanwhile, Russia's President Vladimir Putin announced Sunday that the Russian Navy would soon be armed with Zircon hypersonic missiles.Ukraine's President Volodymyr Zelenskyy told Ukrainian civilians still living in the Donetsk region in eastern Ukraine to evacuate on Saturday.""The more people leave Donetsk region now, the fewer people the Russian army will have time to kill,"" Zelenskyy said in a video address Saturday.3 charts show Europe’s unprecedented natural gas crisisEurope is facing an unprecedented energy crisis that's pushing the economy closer into a recession and posing serious questions about the region's climate change ambitions.CNBC takes a look in three charts at how Russia is squeezing gas supplies to Europe and what this means for the future. Take a look here.— Silvia AmaroRussia likely to be reallocating forces to southern Ukraine, UK saysRussia is likely reallocating a significant number of its forces from the northern Donbas sector to southern Ukraine, Britain's Ministry of Defense said Monday, echoing comments by the Ukrainian authorities last week.""Russia is probably adjusting the operational design of its Donbas offensive after failing to make a decisive operational breakthrough under the plan it had been following since April,"" the ministry said on Twitter.""It has likely identified its Zaporizhzhia front as a vulnerable area in need of reinforcement.""The ministry noted that, over the last four days, Russia has continued to attempt tactical assaults on the Bakhmut axis, northeast of Donetsk, but had only managed to make slow progress.Several southern cities have experienced Russian shelling over the weekend, including Mykolaiv and Odesa.Houses in the Odesa region destroyed by Russian shelling.Sopa Images | Lightrocket | Getty ImagesOn Sunday evening, Ukraine's President Zelenskyy commented that ""now the Russian army is trying to strengthen its positions in the occupied areas of the south of our country, increasing activity in the relevant areas. Part of the Russian forces are transferred from their positions in the east to the south - to the Kherson region and the Zaporizhzhya region... But this will not help them there,"" he said, saying Ukraine's armed forces ""are ready to respond to any new activity of the occupiers.""— Holly EllyattThe body overseeing Ukraine grain exports says it's watching first shipment closelySierra Leone-flagged dry cargo ship Razoni departs from port of Odesa in Odessa, Ukraine on August 01, 2022 as part of a recent grain export deal signed between Turkey, the UN, Russia, and Ukraine and expected to reach Istanbul tomorrow.Anadolu Agency | Anadolu Agency | Getty ImagesThe Joint Coordination Centre, a body set up by Russia, Ukraine, Turkey and the United Nations to coordinate and oversee the shipments of vital produce from Ukraine, has said it is monitoring the safe passage of the merchant ship.A statement from the JCC on the so-called ""Black Sea Grain Initiative"" issued on Monday said it had ""authorised the M/V Razoni to sail from the port of Odesa today.""The JCC has agreed to the specific coordinates and restrictions of a humanitarian maritime corridor and has communicated those details in accordance with international navigation procedures, it said.It added that it ""has requested all its participants to inform their respective military and other relevant authorities of this decision to ensure the safe passage of the vessel.""The Razoni will carry over 26,000 metric tons of corn, the JCC said, and having left Odesa this morning it is estimated to arrive at the inspection location in Turkish territorial waters tomorrow, Aug. 2.Following inspection, it will proceed to its final destination in Tripoli, Lebanon. The JCC was agreed upon in late July and set up by Russia, Ukraine, Turkey and the U.N. in a bid to get vital exports, such as wheat, fertilizer and cooking oils, out of Ukraine after months of a blockade on Ukraine's ports. Ukraine blamed Russia for the blockade while Moscow blamed Ukraine for mining waters in the Black Sea that it said prevented shipping.The deal will see ships guided through such waters, through what the JCC terms ""the Safe Humanitarian Maritime Corridor."" Ukraine's infrastructure minister said the shipment would help to prevent world famine.— Holly EllyattPutin says Russia's navy will get new hypersonic missiles soonRussian President Vladimir Putin at the Navy Day Parade on July, 31 2022, in St. Petersburg, Russia. Planned Navy Day celebrations in Sevastopol in Russian-annexed Crimea were canceled on Sunday after officials accused Ukraine of carrying out a drone attack on the Black Sea Fleet's headquarters there, injuring five people.Contributor | Getty Images News | Getty ImagesRussia's President Vladimir Putin announced Sunday that the Russian Navy would soon be armed with Zircon hypersonic missiles.""We will provide protection firmly and by all means,"" Putin said in a speech Sunday to mark Russia's ""Navy Day,"" saying that ""the key thing here is the capability of the Russian Navy.""He said its combat readiness was ""constantly improving,"" adding that the latest Zircon hypersonic missile systems, ""which have no countertypes in the world and no barriers,"" would be added to the navy's arsenal.""Dear comrades, their delivery to the Russian armed forces will begin in the coming months,"" Putin remarked in a speech in St. Petersburg. Zircon missiles, intended for use by the Russian navy against enemy ships and ground targets, can purportedly fly at nine times the speed of sound and have a range of just over 600 miles.Putin said the area of their deployment would depend on Russian interests. He did not mention Ukraine in his speech.Planned Navy Day celebrations in Sevastopol in Russian-annexed Crimea were canceled on Sunday after officials accused Ukraine of carrying out a drone attack on the Black Sea Fleet's headquarters there, injuring five people.""An unidentified object flew into the courtyard of the fleet's headquarters,"" wrote Mikhail Razvozhayev, governor of Sevastopol — which is where Russia's Black Sea Fleet is stationed — on the Telegram messaging app.""According to preliminary information, it is a drone."" Ukraine has not officially commented on the explosion amid reports that it could have been a homemade device made by Ukrainian insurgents in the city.— Holly EllyattUkraine's first grain shipment in months departs from Odesa portThe first shipment of grain exports from Ukraine in months has departed from the port of Odesa, Ukraine's Infrastructure Minister Oleksandr Kubrakov confirmed and data from MarineTraffic.com showed.The Sierra Leone-flagged ship Razoni, which is loaded with corn, will head to Lebanon, Turkey's Defense Ministry said, according to a Reuters translation of a statement from the ministry.""As a result of the intense work the Joint Coordination Center in Istanbul and talks by (Turkish) Defense Minister Hulusi Akar, the ministers and relevant parties: It has been agreed that Sierra- Leone flagged and corn loaded Razoni dry cargo ship will leave Odesa port on 1 August 0830 am for Lebanon.""A port in the city of Odesa, Ukraine, on July 29 2022. The first shipment of grain exports from Ukraine in months comes after Turkey and the United Nations brokered an agreement between Ukraine and Russia to allow for the resumption of key exports from Ukraine, such as grain and fertilizer.The Washington Post | The Washington Post | Getty ImagesThe shipment comes after Turkey and the United Nations brokered an agreement between Ukraine and Russia to allow for the resumption of key exports from Ukraine, such as grain and fertilizer, of which both countries are key producers.The deal aims to allow safe passage for grain shipments in and out of the ports of Chornomorsk, Odesa and Pivdennyi. More ships are expected to leave Ukraine in the coming days.— Holly EllyattUkrainian grain tycoon killed during shelling of MykolaivOne of Ukraine's richest men, the agricultural tycoon Oleksiy Vadatursky, and his wife Raisa died during Russian shelling of the southern city of Mykolaiv this weekend.Video footage released by the local emergency services on Sunday showed firefighters tackling burning buildings after heavy shelling of the city, a key target for Russia's invading forces trying to make territorial gains in the south of Ukraine, on Saturday night into Sunday morning.Vadatursky, founder and owner of agriculture company Nibulon, and his wife were killed in their home, Mykolaiv Governor Vitaliy Kim said on Telegram.People receive clear water for drinking in Mykolaiv, on July 21, 2022, amid the Russian invasion of Ukraine.Bulent Kilic | AFP | Getty ImagesUkrainian President Volodymyr Zelenskyy offered his condolences to the family and friends of the businessman and his wife on Sunday evening, saying ""people like them, companies, and our Ukrainian south guaranteed the world's food security.""Zelenskyy went on to thank Mykolaiv residents for ""their indomitability and for protecting the city and the region,"" as well as other southern cities that have faced intense shelling in recent weeks.""I also thank Nikopol, Kharkiv, Kryvyi Rih and the entire Dnipropetrovsk region, the strong people of Zaporozhzhia and the region, all Ukrainians of the Kherson region, everyone who defends the approaches to Odesa and the region... Thank you for your courage,"" he said.— Holly EllyattZelenskyy urges civilians to leave Donetsk as Russians look to advanceUkraine's President Volodymyr Zelenskyy told Ukrainian civilians still living in the Donetsk region in eastern Ukraine to evacuate on Saturday.Russia's bombardment of cities and settlements in the area has become intense over recent weeks as its forces look to advance after capturing neighboring Luhansk, with both regions making up the Donbas in the east.""The more people leave Donetsk region now, the fewer people the Russian army will have time to kill,"" Zelenskyy said in a video address Saturday. ""We will use all available opportunities to save as many lives as possible,"" he added.— Holly Ellyatt",Ukraine’s first grain shipment in months leaves port; Putin says navy will be armed with hypersonic missiles.
"An employee works at Cosmos Aluminium factory in Larissa, Greece, July 8, 2021. Picture taken July 8, 2021 REUTERS/Alexandros AvramidisRegister now for FREE unlimited access to Reuters.comATHENS, Aug 1 (Reuters) - Greek manufacturing activity declined in July, hit by faster contractions in production and new orders as high inflation took a toll on client demand, a survey showed on Monday.S&P Global's Purchasing Managers' Index (PMI) for manufacturing, which accounts for about 10% of the Greek economy, fell to 49.1 in July from 51.1 in June, the first reading below the 50.0 neutral mark since February 2021.July's reading was the fastest downturn in the health of Greek manufacturing since December 2020. Readings above the 50 level mark an expansion in activity.Register now for FREE unlimited access to Reuters.com""The loss of growth momentum seen across the Greek manufacturing sector since the start of the year resulted in the first contraction since February 2021,"" said S&P Global economist Sian Jones.The impact of inflation on customer spending continued to hamper new sales and a sharp fall in new orders fed through to lower production, she added.The decrease in output quickened to the sharpest since the end of 2020.New orders shrank sharply in July, in contrast to the strong expansion seen at the start of the year. They contracted at the fastest pace since December 2020 with firms citing a fall in customer purchasing power due to severe inflationary pressures.Client demand from abroad worsened further with new export orders declining at the steepest clip in a year-and-a-half.Challenging demand conditions led some manufacturers to scale back hiring at the start of the third quarter with employment rising only fractionally.On the price front, the rate of cost inflation eased to the slowest since January 2021, with the rise in cost burdens slowing from the record rates seen at the end of 2021. Price hikes were linked to higher energy, raw materials and transport.Inflation of prices charged by firms eased to the slowest since August 2021, the survey showed.""Inflationary pressures eased notably at the start of the third quarter. Firms passed through any reductions in costs, as selling prices rose at the slowest pace for almost a year,"" Jones said.Register now for FREE unlimited access to Reuters.comReporting by George Georgiopoulos; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.","Greek July factory activity slumps, new orders fall - PMI."
"Silhouettes of a worker catching chickens at a poultry farm in Sepang, Selangor, May 27, 2022. REUTERS/Hasnoor HussainRegister now for FREE unlimited access to Reuters.comKUALA LUMPUR, Aug 1 (Reuters) - Malaysia on Monday said it now has a slight oversupply of chicken, following its imposition of a ban on exports of the poultry to secure domestic supplies and rein in rising food prices.Malaysia, which supplies live chickens mainly to neighbouring Singapore and Thailand, in June halted chicken exports until production and prices stabilise, after a global feed shortage exacerbated by the Russia-Ukraine war disrupted production.Agriculture and Food Industries Minister Ronald Kiandee said the government is monitoring local chicken supply and will resume exports if it has the extra capacity to do so.""At this point, we are able to produce 106% of our self-sufficiency level. That means we have the capacity to export chicken from our country,"" Ronald said in parliament.""We currently have a slight oversupply of chicken, which has caused the prices of chicken in the market to be lower than that of the ceiling price set by the government,"" he added.Register now for FREE unlimited access to Reuters.comReporting by Mei Mei Chu; Editing by Martin PettyOur Standards: The Thomson Reuters Trust Principles.",Malaysia says chicken stocks in oversupply after export ban.
"Register now for FREE unlimited access to Reuters.comSummaryFirst Ukraine grain ship bound for LebanonTurkey says more ships to followRussian missiles pound port of MykolaivKYIV, Aug 1 (Reuters) - A ship carrying grain left the Ukrainian port of Odesa for Lebanon on Monday under a safe passage agreement, Ukrainian and Turkish officials said, the first departure since the Russian invasion blocked shipping through the Black Sea five months ago.Ukraine's foreign minister called it ""a day of relief for the world"", especially for countries threatened by food shortages and hunger because of the disrupted shipments.The sailing was made possible after Turkey and the United Nations brokered a grain-and-fertiliser export agreement between Russia and Ukraine last month.Register now for FREE unlimited access to Reuters.com""The first grain ship since #RussianAggression has left port,"" Infrastructure Minister Oleksandr Kubrakov said. ""Today Ukraine, together with its partners, makes another step to prevent world hunger.""The Turkish defence minister said earlier that the Sierra Leone-flagged ship Razoni would head to Lebanon.The Russian invasion of Ukraine on Feb. 24 has led to a worldwide food and energy crisis and the United Nations has warned of the risk of multiple famines this year.Russia and Ukraine account for nearly a third of global wheat exports. But Western sanctions on Russia and fighting along Ukraine's eastern seaboard have prevented grain ships safely leaving ports.The deal aims to allow safe passage for grain shipments in and out of Odesa, Chornomorsk and the port of Pivdennyi.Ukrainian Foreign Minister Dmytro Kuleba said on Twitter: ""The day of relief for the world, especially for our friends in the Middle East, Asia, and Africa, as the first Ukrainian grain leaves Odesa after months of Russian blockade"".Moscow has denied responsibility for the food crisis, blaming Western sanctions for slowing exports and Ukraine for mining the approaches to its ports.Turkish Defence Minister Hulusi Akar said the Razoni would anchor in the Bosphorus off Istanbul on Tuesday afternoon and will be inspected by a joint team of Russian, Ukrainian, United Nations and Turkish representatives.""It will then continue as long as no problems arise,"" Akar said.Ukrainian presidential officials have said 17 ships are docked in Black Sea ports with almost 600,000 tonnes of cargo, mostly grain.Kubrakov said more ships would follow. Unlocking the ports would provide at least $1 billion in foreign exchange revenue for Ukraine's economy and allow the agricultural sector to plan next year's sowing season, he said.The U.S. Embassy in Kyiv welcomed the shipping resumption, saying: ""The world will be watching for continued implementation of this agreement to feed people around the world with millions of tons of trapped Ukrainian grain.""The Sierra Leone-flagged cargo ship, Razoni carrying Ukrainian grain leaves the port, in Odesa, Ukraine, August 1, 2022, in this screen grab taken from a handout video. Oleksandr Kubrakov/ Ukraine Ministry of Infrastructure/Handout via REUTERS BOMBARDMENTS IN SOUTH AND EASTDespite the breakthrough on the grain shipments, the war ground on elsewhere.Three civilians were killed by Russian shelling in Donetsk region - two in Bakhmut and one in nearby Soledar - in the last 24 hours, regional governor Pavlo Kyrylenko said.An important industrial city and transport hub, Bakhmut has been under Russian bombardment for the past week as the Kremlin's forces try to occupy all of Donetsk.It is connected to the towns of Lysychansk and Sievierodonetsk in Luhansk region, which is almost all occupied by Russia. Luhansk governor Serhiy Gaidai said the road was crucial for delivering weapons to Ukrainians fighting in Sievierodonetsk and evacuating people form that area.Russian strikes also hit Kharkiv - Ukraine's second biggest city and situated near the border with Russia - on Monday, regional governor Oleh Synegubov said. Two civilians were wounded, he said.After failing to quickly capture the capital Kyiv early in the war, Russia has turned its forces on Ukraine's east and south and has been aiming to capture the Donbas region, made up of Donetsk and Luhansk.Ukrainian President Volodymyr Zelenskiy said Russia has been transferring some forces from the Donbas to the southern Kherson and Zaporizhizhya regions.Russia annexed Crimea in 2014 and Kyiv says Moscow is seeking to do the same with the Donbas and link it to Crimea in the south. Russian-backed separatist controlled parts of the region before the invasion.Russia invaded Ukraine in what it called a ""special operation"" to demilitarise its neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for war.Russian missiles on Sunday pounded Mykolaiv, a port city on the River Bug estuary off the Black Sea that borders the mostly Russian-occupied Kherson region.Mykolaiv Mayor Oleksandr Senkevych said more than 12 missile strikes - probably the most powerful on the city in five months of war - hit homes and schools, with two people confirmed killed and three wounded.Ukrainian grain tycoon Oleksiy Vadatursky, founder and owner of agriculture company Nibulon, and his wife were killed in their home, Mykolaiv Governor Vitaliy Kim said.Zelenskiy said the businessman - one of Ukraine's richest - had been building a modern grain market with a network of transhipment terminals and elevators.""It is these people, these companies, precisely the south of Ukraine, which has guaranteed the world's food security,"" Zelenskiy said in his nightly address. ""This was always so. And it will be so once again.""Zelenskiy said Ukraine may harvest only half its usual amount this year due to disruption to farming from the war. Farmers have reported trying to harvest in between Russian shelling of their fields and nearby towns and villages.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaux; Writing by Michael Perry and Angus MacSwan; Editing by Nick MacfieOur Standards: The Thomson Reuters Trust Principles.",First Ukraine grain ship since start of war leaves Odesa.
"Pedestrians leave and enter the London Stock Exchange in London, Britain August 15, 2017. REUTERS/Neil Hall/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryCompaniesHSBC reverts to paying dividendsQuilter soars on report of NatWest considering bidInflation expectations ease again in JulyFTSE 100 up 0.5%, FTSE 250 adds 0.2%Aug 1 (Reuters) - UK's top share index extended its winning run on Monday as HSBC surged after providing an upbeat outlook, while easing inflation expectations raised doubts over the chances of a super-sized rate hike from the Bank of England (BoE) this week.The blue-chip FTSE 100 (.FTSE) climbed 0.5%, hitting fresh seven-week highs as earnings optimism boosted European markets.HSBC (HSBA.L) jumped 5.9% after Europe's biggest bank announced a higher profitability target and bullish dividend outlook. It also pushed back on a proposal by top shareholder Ping An Insurance Group Co of China (601318.SS) to split itself. read more Register now for FREE unlimited access to Reuters.comThe wider banking index (.FTNMX301010) added 3.8%.Pearson (PSON.L) rose 6.8% as the education group reiterated its full-year profit outlook and said its new integrated structure under boss Andy Bird was helping to save costs and grow the top line. read more Investors were awaiting the BoE's policy decision on Thursday. The British public's expectations for inflation fell again in July, a survey showed on Monday, potentially adding to the case for only a quarter percentage point increase in interest rates. read more Hawkish comments from BoE rate-setters recently have raised the prospect for the first half percentage-point rate hike since 1995. read more ""In our forecast, we expect a 25 bp hike next week to be the last in this hiking cycle, but the risks are now clearly skewed to the upside,"" Unicredit analysts said in a recent note.""The MPC would likely need to see some spare capacity opening up in the labour market in order to feel confident that the risk of high inflation becoming entrenched has diminished. We still think this will happen in 2H22, but uncertainty is very high.""Another survey showed British manufacturing output and new orders declined in July at the fastest rate since May 2020 as factories across Europe struggled with rising costs and slowing demand. read more The domestically focused midcap index (.FTMC) gained 0.2%, also holding near seven-week highs hit last week.Quilter (QLT.L) jumped 12.3% after a media report said NatWest Group (NWG.L) is considering a bid for the fund manager. NatWest gained 2.1%Register now for FREE unlimited access to Reuters.comReporting by Sruthi Shankar in Bengaluru; editing by Uttaresh.VOur Standards: The Thomson Reuters Trust Principles.","HSBC lifts FTSE 100 to fresh June highs, Quilter surges on takeover chatter."
"U.S. Treasury yields rose on Monday to begin August as investors continue to assess the prospects for an economic recession.At around 5:15 a.m. ET he yield on the benchmark 10-year Treasury note was up at 2.6667% while the yield on the 30-year Treasury bond rose to 3.0276%. Yields move inversely to prices.The 2-year yield also rose to just above 2.91%, meaning the closely watched 2-year/10-year yield curve remains inverted, a situation often interpreted as a sign of impending recession.Wall Street is coming off its strongest month since 2020 as longer-term interest rates moderated slightly and investors found a relief rally after months of deepening pessimism, with corporate earnings offering some reprieve.Data releases on Monday will include July's manufacturing PMI (purchasing managers' index), due at 10 a.m. ET.The big data point this week will be Friday's nonfarm payrolls report from the Bureau of Labor Statistics, which will give more insight into the strong labor market.So far this year, the solid growth of jobs has prompted economists to say the United States is currently not in a recession, even with two consecutive quarters of GDP contraction.Auctions will be held for $54 billion of 13-week Treasury bills and $42 billion of 26-week bills.",Treasury yields climb to start August as investors weigh recession prospects.
"Signage is seen in front of the RG420 cannabis store, at Khaosan Road, one of the favourite tourist spots in Bangkok, Thailand, July 31, 2022. REUTERS/Athit PerawongmethaRegister now for FREE unlimited access to Reuters.comBANGKOK, Aug 1 (Reuters) - The RG420 cannabis cafe opened just four days ago in Khao San, an area of Bangkok popular with backpackers - and already it's crammed with customers.Several such outlets have sprung up across the capital since Thailand decriminalised the plant in June, a few weeks before it dropped COVID-linked controls on foreign visitors.Foreign arrivals shrank to 2 million in the first half of 2022 from nearly 40 million in 2019, and RG420's owner Ong-ard Panyachatiraksa and others like him view their cafes as central to efforts to revive a tourism industry that contributed about 12% to GDP before the pandemic struck.Register now for FREE unlimited access to Reuters.comHe said hundreds have been visiting the cafe every day, and he plans to open others.""Europeans, Japanese, Americans – they are looking for Thai sativa,"" Ong-ard told Reuters, referring to a cannabis strain. ""Cannabis and tourism are a match.""Not everyone agrees.In 2018, Thailand became the first Southeast Asian country to legalise marijuana for medical use. In June, the entire cannabis plant was decriminalised. read more That has led to an explosion in its recreational use, something that government officials - concerned about negative effects on health and productivity often linked to uncontrolled use of the drug - have retropectively tried to discourage.""The law does not cover recreational cannabis use... and so tourism promotion is focused on medical (aspects),"" the national tourism authority's Deputy Governor, Siripakorn Cheawsamoot, said.The pushback against the way the new policy is being interpreted has caused some confusion, with authorities resorting to issuing piecemeal regulations such banning public smoking of cannabis and its sale to under 20s.A parliamentary committee is now debating a bill to regulate cannabis use that is expected to finalise in September and could impact the cannabis cafes. read more Akira Wongwan, a medical cannabis entrepreneur and one of the committee's advisers, said she expected recreational use to be subject to zoning laws.Meanwhile, in the crowded smoking room at RG420 - a reference to Rag Gan, a Thai expression meaning ""love each other"" - Briton Malik Khan has just finished rolling a joint.""This country is beautiful, and there's so much to do here as well,"" the 26-year-old said. ""It (cannabis) adds to the scene really nicely.""($1 = 36.2900 baht)Register now for FREE unlimited access to Reuters.comReporting by Chayut Setboonsarng; editing by John StonestreetOur Standards: The Thomson Reuters Trust Principles.",Joint venture: Cannabis cafes open new front in Thai tourism revival.
"Register now for FREE unlimited access to Reuters.comAug 1 (Reuters) - Alibaba Group Holding Ltd (9988.HK)said on Monday it would work to maintain its New York Stock Exchange listing alongside its Hong Kong listing after the Chinese e-commerce giant was placed on a delisting watchlist by U.S authorities.Alibaba stock closed down nearly 3.8% in a near-flat Hong Kong market (.HSI), following its 11.1% decline in New York on Friday.The company on Friday became the latest of more than 270 firms to be added to the U.S. Securities and Exchange Commission's list of Chinese companies that might be delisted for not meeting auditing requirements. read more Register now for FREE unlimited access to Reuters.comThe Holding Foreign Companies Accountable Act (HFCAA) is intended to address a long-running dispute over the auditing compliance of U.S.-listed Chinese firms.It aims to remove foreign companies from U.S. exchanges if they fail to comply with American auditing standards for three consecutive years.Alibaba on Monday said being added to list meant it was now considered to be in its first 'non inspection' year.""Alibaba will continue to monitor market developments, comply with applicable laws and regulations and strive to maintain its listing status on both the NYSE and the Hong Kong Stock Exchange,"" it said in a statement to the Hong Kong bourse.U.S. regulators have been demanding complete access to audit working papers of New York-listed Chinese companies, which are stored in China.The logo Alibaba Group for is seen on the trading floor at the New York Stock Exchange in Manhattan, New York City, U.S., Aug. 3, 2021. REUTERS/Andrew Kelly/File PhotoBeijing bars foreign inspection of working papers from local accounting firms.The U.S. rules give Chinese companies until early 2024 to comply with auditing requirements, though Congress is weighing bipartisan legislation that could accelerate the deadline to 2023.China has said both sides are committed to reaching a deal to solve the audit dispute.Alibaba said last week it planned to apply to convert its Hong Kong secondary listing to a dual primary listing which would make it easier for mainland Chinese investors to buy its shares. read more A dual listing would allow Alibaba to apply for admission to Stock Connect, the scheme connecting Hong Kong and mainland exchanges. Analysts estimated there could be $21 billion worth of inflows from mainland investors into Alibaba stock through Stock Connect.Alibaba's Hong Kong-listed shares have fallen 49% from HK$176 at the time of its secondary listing in November 2019 to HK$90.15 on Monday. In New York its shares were listed in 2014 at $68 each and are trading at $89.37.Both sets of listed shares are down nearly 25% so far this year as the company battles the delisting threat, ongoing Chinese tech regulation and the prospect of its founder Jack Ma ceding control of the firm's affiliate Ant Group.Analysts at Jefferies described Alibaba's share price drop as a ""knee-jerk reaction"" to the news of a potential delisting, and added that the 2024 deadline for Chinese American Depository Receipt delisting gives China adequate time to resolve its audit issues.""China is serious about wanting to resolve the audit issues with the U.S., and talks will continue,"" they wrote.Register now for FREE unlimited access to Reuters.comReporting by Scott Murdoch in Hong Kong and Josh Horwitz in Shanghai; additional reporting Riddhima Talwani. Editing by Christopher CushingOur Standards: The Thomson Reuters Trust Principles.",China's Alibaba strives to keep New York listing amid audit dispute.
"U.S. House of Representatives Speaker Nancy Pelosi shakes hands with Singapore's Prime Minister Lee Hsien Loong in Singapore August 1, 2022. Mohd Fyrol Official Photographer/Ministry of Communications and Information/Handout via REUTERS Register now for FREE unlimited access to Reuters.comSummaryBeijing reiterates firm warning against a Pelosi visit to TaiwanPelosi would be first U.S speaker to visit Taiwan since 1997Pelosi Asia trip to include Singapore, Malaysia, S.Korea, JapanTaiwan was not included on itinerary released SundaySINGAPORE, Aug 1 (Reuters) - U.S. House of Representatives Speaker Nancy Pelosi kicked off a closely-watched Asia tour on Monday in Singapore as China warned that its military would never ""sit idly by"" if she were to visit Taiwan, the self-ruled island claimed by Beijing.Amid widespread speculation over whether she would make a stop in Taiwan, Pelosi's office announced on Sunday that she was leading a Congressional delegation to the region that would include visits to Singapore, Malaysia, South Korea and Japan. It did not mention Taiwan.Chinese foreign ministry spokesman Zhao Lijian said that it would be ""a gross interference in China's internal affairs"" if Pelosi visits Taiwan, and warned that it would lead to ""very serious developments and consequences.""Register now for FREE unlimited access to Reuters.com""We would like to tell the United States once again that China is standing by, the Chinese People's Liberation Army will never sit idly by, and China will take resolute responses and strong countermeasures to defend its sovereignty and territorial integrity,"" Zhao told a regular daily briefing.Asked what kind of measures the PLA might take, Zhao said: ""if she dares to go, then let us wait and see.”China views visits by U.S. officials to Taiwan as sending an encouraging signal to the pro-independence camp in the island. Washington does not have official diplomatic ties with Taiwan but is bound by U.S. law to provide the island with the means to defend itself.A visit by Pelosi, who is third in the line of succession to the presidency and a long-time critic of China, would come amid worsening ties between Washington and Beijing. Republican Newt Gingrich was the last House speaker to visit Taiwan, in 1997.During a phone call last Thursday, Chinese President Xi Jinping warned his U.S. counterpart Joe Biden that Washington should abide by the one-China principle and ""those who play with fire will perish by it"".Biden told Xi that U.S. policy on Taiwan had not changed and that Washington strongly opposes unilateral efforts to change the status quo or undermine peace and stability across the Taiwan Strait. read more On Monday, Taiwan Premier Su Tseng-chang did not directly respond when asked whether Pelosi will visit on Thursday, as local media have speculated.""We always warmly welcome visits to our country by distinguished foreign guests,"" he told reporters in Taipei.Shi Yinhong, an international relations professor at Renmin University in Beijing, said that if Pelosi visits Taiwan it would prompt the strongest counter-measures by Beijing in years, but he did not expect that to trigger major military conflict.""China has reiterated in no ambiguous terms its opposition to Taiwan separatism. The U.S. has reiterated many times its one-China policy has not changed and that it is against any change to the status quo by either side of the Taiwan Strait,"" he said.""Unless by accident, I am sure neither side would intentionally take military action that could lead to a major security risk.”SINGAPORE VISITOn Monday, Pelosi and her delegation met with Singapore Prime Minister Lee Hsien Loong, discussing issues including cross-strait relations, the Ukraine war and climate change, Singapore's foreign ministry said.""PM Lee highlighted the importance of stable US-China relations for regional peace and security,"" it said.Beijing considers Taiwan to be part of its territory and has never renounced using force to bring the island under its control. Taiwan rejects China's sovereignty claims and says only its people can decide the island's future.Last Wednesday, Biden told reporters he thought the U.S. military believed a Pelosi visit to Taiwan was ""not a good idea right now"".Register now for FREE unlimited access to Reuters.comReporting by Chen Lin in Singapore, Yimou Lee in Taipei, and Martin Quin Pollard and Yew Lun Tian in Beijing; Writing by Tony Munroe; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.","As Pelosi begins Asia tour, China warns against visiting Taiwan."
"A general view shows trucks blocking a road in Rudare, Kosovo, August 1, 2022. REUTERS/Fatos Bytyci NO RESALES. NO ARCHIVES.Register now for FREE unlimited access to Reuters.comZUPCE, Kosovo, Aug 1 (Reuters) - Kosovo's government on Monday began issuing extra documents to Serbian citizens crossing into its territory, as Serbs living in the north of the country who oppose the decision blockaded roads leading to two border crossings.Fourteen years after Kosovo declared independence from Serbia, some 50,000 Serbs in the north still use licence plates and documents issued by Serbian authorities, refusing to recognise the Pristina government and its institutions.Following tensions on Sunday and consultations with U.S. and EU ambassadors, the government said it would postpone until Sept. 1 a decision giving local Serbs 60 days to switch to Kosovo licence plates and requiring extra documents to be issued at the border to Serbian citizens, including those living in Kosovo without local documents.Register now for FREE unlimited access to Reuters.comBut as gravel-filled trucks and heavy machinery continued to block roads leading to the Brnjak and Jarinje border crossings in northern Kosovo on Monday morning, the government began issuing the documents at the biggest border crossing Merdare.“This decision will continue to be implemented until all the barricades are removed and the freedom of movement for people and goods is ensured,"" Kosovo’s Interior Minister Xhelal Svecla said.NATO-led mission KFOR helicopters flew over the north of Kosovo, which is majority-populated by Serbs and linked directly with Serbia. The Brnjak and Jarinje border crossings remained closed.Kosovo has been recognised as an independent state by more than 100 countries but not by Serbia or Russia.A year ago, after local Serbs blocked the same roads in another row over licence plates, Kosovo's government deployed special police forces and Belgrade flew fighter jets close to the border.Tensions between the two countries remain high and Kosovo's fragile peace is maintained by a NATO mission with 3,770 troops on the ground. Italian peacekeepers were visible in and around then northern town of Mitrovica on Sunday.The two countries committed in 2013 to a dialogue sponsored by the European Union to try to resolve outstanding issues but little progress has been made.Register now for FREE unlimited access to Reuters.comReporting by Fatos Bytyci; Writing by Ivana Sekularac; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.",Kosovo starts issuing extra documents to Serbian citizens as protesters block roads.
"A worker at the Liebherr manufacturing company, which produces gear cutting tools, wears a protective mask as he works in the factory a day after its re-opened, as Italy begins a staged end to a nationwide lockdown due to a spread of the coronavirus disease (COVID-19), in Collegno, Italy, May 5, 2020. REUTERS/Massimo PincaRegister now for FREE unlimited access to Reuters.comROME, Aug 1 (Reuters) - Italy's manufacturing sector contracted in July for the first time in more than two years, a survey showed on Monday, amid a sharp decline in factory production.The S&P Global Purchasing Managers' Index (PMI) for Italian manufacturing came in at 48.5, down from 50.9 the month before and below the 50 mark that separates growth from contraction for the first time since June 2020.The index fell for a fifth consecutive month as manufacturing in the euro zone's third largest economy has been hit by uncertainty linked to the war in Ukraine and expectations of a deteriorating economic picture.Register now for FREE unlimited access to Reuters.comThe July index reading was worse than expected, with a Reuters survey of six analysts providing a median forecast of 49.3.The new orders sub-index dropped to 42.5 from 43.9, well below the key 50 threshold and posting an eighth straight decline.The knock-on effect of the Ukraine conflict has hit the economic prospects in countries throughout the euro zone, however Italy has so far fared better than some of its main trading partners.On Friday, statistics bureau ISTAT said Italy's economy grew a faster-than-expected 1.0% in the second quarter of 2022 and 4.6% year-on-year. read more Register now for FREE unlimited access to Reuters.comReporting by Angelo Amante, editing by Crispian Balmer and Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Italy manufacturing sector contracts in July -PMI.
"Employees wearing face masks work on a car seat assembly line at Yanfeng Adient factory in Shanghai, China, as the country is hit by an outbreak of a new coronavirus, February 24, 2020. REUTERS/Aly Song/File PhotoRegister now for FREE unlimited access to Reuters.comSummaryFactory activity slows in July vs June - Caixin surveyProperty sales down 33.4% in July vs 88.9% rise in June - private surveyEconomic stagnation a worry in second half of 2022 - economistBEIJING, Aug 1 (Reuters) - China's wobbly economy stumbled further at the start of the second half of the year, with factories unexpectedly switching back to the slow lane, a slump in the property sector deepening and job cuts still a widespread menace.A private poll by Caixin on Monday showed manufacturing activity grew more slowly than expected in July, after surging in June when widespread COVID lockdowns were lifted. That came on top of a bearish official survey on Sunday indicating the sector actually contracted last month. read more Also on Monday, a poll by China Index Academy, one of the country's largest independent real estate research firms, showed property sales by floor area in 17 cities tracked by the company slumped 33.4% in July on-month versus a 88.9% post-lockdown jump in June, as buyers shunned a market increasingly filled with desperate sellers.Register now for FREE unlimited access to Reuters.comThe country's top leaders last week signalled their preparedness to miss the government growth target of around 5.5% for 2022, a year in which President Xi Jinping is expected to secure a precedent-breaking third leadership term.Second-quarter gross domestic product grew just 0.4% on-year, but authorities have so far refrained from massive stimulus despite fears of a global recession, uncertainties from the Ukraine war, and the prospect of recurring COVID lockdowns at home. read more ""Stagnation is what everyone is worried more after the second quarter (GDP) fell into a hole,"" said Nie Wen, a Shanghai-based economist at Hwabao Trust.""In the second half, what matters more economically would be to quicken the recovery of consumption.""Retail sales improved in June, up 3.1% on-year, after COVID lockdowns were lifted in some cities including Shanghai. The jobless rate also eased to 5.5% from 5.9% in May. read more JOBLESSNESSBut consumer sentiment remained fragile, due to widespread uncertainty over jobs.In the Caixin survey, an index for factory jobs dived to the lowest in 27 months. Companies attributed the staff shedding to cost-cutting, subdued sales, and the non-replacement of voluntary leavers.""We've shut down at least 10% of the factories in Jiangsu so far, and more than 80% of employees have been laid off,"" said Xu, general manager of a furniture maker in Jiangsu province, declining to give his full name.""Although the situation has improved COVID-wise and market-wise, we haven't seen a significant rebound in sales,"" said Xu, adding that sales are now just half of the usual annual pace of 100 million yuan ($14.8 million).For those still hanging on to their jobs, consumption may not be a top priority.A Beijing agent surnamed Lu at Lianjia, a top real-estate brokerage company, said some households are selling their homes in the capital to raise cash.""A home seller is currently wanting to sell an apartment worth 6 million yuan in northern Changping district because a reduction in income from his job has increased the pressure on his ability to repay 4 million yuan due in mortgage loans,"" Lu told Reuters.""There are also some potential home buyers who have chosen to postpone their purchases because of the instability of their jobs.""Continued weakness in the property sector in the medium to long term will impact the entire economy and people's livelihoods, warned Hwabao Trust's Nie.The sector was similarly under huge pressure in 2015, but policymakers had allowed a rise in household leverage to prop up the market at the time, said Nie.In 2015, China's economy missed the government's growth target after a stock market rout, an imploding shadow banking sector and the plunging property market.""But at that time, consumption was still steady, not like this year,"" he said.($1 = 6.7550 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.comAdditional reporting by Beijing newsroom; Editing by Kim Coghill & Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.","China's economic wobbles worsen as factory, property woes mount."
"Christmas shoppers wear mask and fill Cologne's main shopping street Hohe Strasse (High Street) during the spread of the coronavirus (COVID-19) pandemic in Cologne, Germany, 12, December, 2020. REUTERS/Wolfgang RattayRegister now for FREE unlimited access to Reuters.comBERLIN, Aug 1 (Reuters) - German retailers ended the first half of 2022 with the sharpest year-on-year sales drop in nearly three decades, as inflation, the Ukraine war and the coronavirus pandemic take their toll, data showed on Monday.Retail sales in June decreased 8.8% in real terms compared with the same month last year, the biggest drop since the time series began in 1994, said the Federal Statistical Office.Analysts polled by Reuters had predicted a drop of 8.0%.Retail sales also unexpectedly fell compared with the month before: June retail sales fell 1.6% in real terms, versus analysts' predictions of a 0.2% increase in a Reuters poll.Food retail sales in particular saw a decrease of 1.6% in real terms compared with the previous month, which is due to higher prices for groceries and an increase in restaurant sales, according to the office.Register now for FREE unlimited access to Reuters.comReporting by Miranda Murray and Rene Wagner; Editing by Maria SheahanOur Standards: The Thomson Reuters Trust Principles.",German retail sales post biggest year-on-year slump since 1994.
"Workers assemble campers at Knaus-Tabbert AG factory in Jandelsbrunn near Passau, Germany, March 16, 2021. Picture taken March 16, 2021. REUTERS/Andreas Gebert/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - Manufacturing activity across the euro zone contracted last month with factories forced to stockpile unsold goods due to weak demand, a survey showed on Monday, adding to concerns the bloc could fall into a recession.S&P Global's final manufacturing Purchasing Managers' Index (PMI) fell to 49.8 in July from June's 52.1, just ahead of a preliminary reading of 49.6 but its first time below the 50 mark separating growth from contraction since June 2020.An index measuring output, which feeds into a composite PMI due on Wednesday and seen as a good gauge of economic health, sank to a more than two-year low of 46.3. In June it was 49.3.Register now for FREE unlimited access to Reuters.com""Euro zone manufacturing is sinking into an increasingly steep downturn, adding to the region's recession risks. New orders are already falling at a pace which, excluding pandemic lockdown months, is the sharpest since the debt crisis in 2012, with worse likely to come,"" said Chris Williamson, chief business economist at S&P Global.""Lower than anticipated sales, reflected in accelerating rates of decline of new orders and exports, have led to the largest rise in unsold stocks of finished goods ever recorded by the survey.""The new orders index fell to 42.6 from 45.2, its lowest since May 2020 when the coronavirus pandemic was starting to grip the world, indicating scant chances of a turnaround anytime soon.S&P Global said production was falling in all countries surveyed other than the Netherlands and that the rate of decline was of particular worry in Germany, France and Italy - the bloc's three biggest economies.The U.S. economy unexpectedly contracted last quarter, raising the risk the world's largest economy was on the cusp of a recession. read more Still, last month the European Central Bank raised interest rates by more than expected as concerns about runaway inflation trumped worries about growth. read more Euro zone inflation rose further from the ECB's 2% target to a record high of 8.9% in July, preliminary official data showed last week. While the input and output prices indexes fell in the PMI survey they remained high. read more The bloc's economy grew faster than expected last quarter, an early reading showed on Friday, but a July Reuters poll gave a 45% chance of a recession within a year. read more Register now for FREE unlimited access to Reuters.comReporting by Jonathan Cable; Editing by Toby ChopraOur Standards: The Thomson Reuters Trust Principles.",Euro zone factory activity contracted in July as recession fears grow.
"Europe is facing an unprecedented gas crisis.Picture Alliance | Picture Alliance | Getty ImagesEurope is facing an unprecedented energy crisis that's pushing the economy closer into a recession and posing serious questions about the region's climate change ambitions.CNBC takes a look at how Russia, led by President Vladimir Putin, is squeezing gas supplies to Europe and what this means for the future.Russia cuts suppliesRussia has significantly reduced flows of natural gas to Europe since Western nations imposed tough sanctions on the Kremlin following its unprovoked invasion of Ukraine on Feb. 24.Moscow denies it is using gas as a weapon, but Europeans complain that Gazprom, Russia's state-owned energy company, is no longer a reliable provider. Reduced gas supplies from Russia are a problem for EU nations given it used to import about 40% of its gas stocks from the country.Data from Nord Stream, the operator in charge of a pipeline [Nord Stream 1] that links Russia to Germany, confirm that there's fewer gas volumes heading West. Last week alone, supplies via Nord Stream 1 were reduced to 20% from 40% with Gazprom citing maintenance issuesGermany's Economy Minister Robert Habeck said Gazprom's technical excuse was a ""farce."" Supplies had been briefly halted before the latest reduction, with maintenance works being completed between July 11 and July 21.According to the European Commission, the EU's executive arm, 12 members states are already suffering from the reduced gas flows and a handful of others have been completely cut off.Top EU officials say Russia is ""blackmailing"" Europe and ""weaponizing"" its gas supplies. Moscow has repeatedly denied the accusations.""We have to be ready, there might be full disruption in near [the] future, and that means that we need to have a plan in place,"" Kadri Simson, Europe's energy commissioner, told CNBC last week.European leaders are concerned about a complete shutdown in supplies, particularly because many industries use the commodity as a raw material in their manufacturing process.In this context, there have been efforts to seek alternative suppliers and different sources of energy. However, this transition is a difficult task that's impossible to be done on a short timeframe.The commission has asked EU nations to have a minimum storage target of 80% by November. In June, gas filling levels were just over 56%, according to the same institution.Natural gas prices soarNatural gas prices have risen dramatically in the wake of Russia's invasion of Ukraine and even beforehand when Russia started to tighten flows.There's renewed price pressures every time Russia decreases its supplies to Europe given how important the commodity is for several sectors and given the lack of alternatives to Russian fossil fuels.Salomon Fiedler, an economist at Berenberg, noted that natural gas prices in Europe are ""exorbitantly more expensive"" now compared to the 2015-2019 price average. ""In a normal year, the EU may use around 4.3 billion megawatt per hour (MWh) worth of natural gas. Thus, if prices are higher by €100 per MWh for one year and the EU had to pay these prices instead of benefitting from some long-term fixed-price contracts, costs would increase by about €430 billion ($437 billion) – equivalent to 3% of the EU's 2021 GDP,"" he said.Higher prices then naturally trickle down to the energy bills of companies and individuals across the bloc.""European benchmark natural gas prices at the Dutch Title Transfer Facility (TTF) shot up by 15% to almost EUR 200 per megawatt-hour as utilities bid for alternative supplies, raising concerns that consumers and industry will struggle to pay their energy bills and that there will be a winter recession,"" analysts at consultancy group Eurasia said in a research note Tuesday.Growth expectations shatteredWith supplies reduced and prices higher, the gas crisis is shaking Europe's economic prospects.The latest growth reading for the euro zone, out Friday, showed GDP at 0.7% in the second quarter — above market expectations. But more and more economists are pricing in a recession for 2023.The European Commission said earlier this month that the economy would grow 2.7% this year and 1.5% next year. However, the institution also said that a full shutdown in gas supplies from Russia could bring about a recession later in 2022.""Higher gas prices drive up firms' costs and squeeze consumers' budgets, leaving them less money to spend on other goods and services. As a result, we expect the euro zone to fall into recession this autumn at still high inflation,"" Fiedler said.",3 charts show Europe's unprecedented natural gas crisis.
"The HSBC logo is seen in the Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - HSBC (HSBA.L) will pay some of its British workforce a one-off payment of 1500 pounds ($1,830) to help deal with the cost of living crisis, according to a memo seen by Reuters on Monday.In doing so the bank became the latest British lender to offer staff pay boosts, as the country grapples with inflation levels not seen in 40 years.The bank earlier on Monday reported better than expected profits and raised its outlook for returns, as rising interest rates lift its revenues. read more ($1 = 0.8195 pounds)Register now for FREE unlimited access to Reuters.comReporting By Lawrence White, editing by Iain WithersOur Standards: The Thomson Reuters Trust Principles.",HSBC to pay some UK staff 1500 pounds to combat cost of living crisis -memo.
"Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File PhotoRegister now for FREE unlimited access to Reuters.comTOKYO, Aug 1 (Reuters) - Asia's factories struggled for momentum in July as China's strict COVID restrictions and flagging global demand slowed production, although early signs red-hot inflation may be peaking provided some optimism for firms squeezed by prices.A series of purchasing managers' indexes (PMI) for July released on Monday showed new orders falling in the region's manufacturing powerhouses, particularly tech giants in northeast Asia.South Korea's factory activity fell for the first time in almost two years while Japan saw its slowest growth in activity in 10 months amid persistent supply chain disruptions. read more Register now for FREE unlimited access to Reuters.comActivity growth in China also slowed, the private sector Caixin PMI showed on Monday, despite some easing of the strict domestic COVID-19 curbs that slammed the world's second-largest economy in the second quarter. nL1N2ZD04GThe Caixin PMI followed an even bleaker reading from the government's official PMI released on Sunday, that showed activity unexpectedly falling in July amid fresh COVID-19 outbreaks. read more The PMIs for Asia's largest manufacturing economies highlighted the struggle for factories in those countries in dealing with the twin pressures of higher upstream prices and weakening demand, particularly from China.""Higher prices for inputs including fuel, metals and semiconductors meant that the disruption was broad-based across the (South Korean) manufacturing sector,"" Usamah Bhatti, economist at S&P Global Market Intelligence, said of South Korea's PMI.""That said, the rate of input price inflation eased to a four-month low in a tentative sign that price pressures had peaked, although cost inflation remained well above the long-term average.""Adding to that gloom, the PMI for Taiwan, a semi-conductor manufacturing powerhouse, showed factory activity falling at its sharpest pace since May 2020.SILVER LINING?A surge in global commodity prices amid supply chain disruptions caused by the pandemic and the Ukraine war has challenged businesses and policymakers worldwide, with central banks rushing to tighten monetary policy and firms cutting costs.There was some positive news for the region, however, with PMIs indicating input price growth has moderated in China, Taiwan, India and South Korea.Conditions in parts of Southeast Asia were also upbeat, with PMIs pointing to accelerating activity in Indonesia, Malaysia and Thailand where new orders growth bucked declines seen elsewhere in the region.India's factory activity expanded at its quickest pace in eight months in July, also helped by solid growth in new orders and output and a sign the South Asian economy remains resilient.nZRN004TO8South Korea's exports grew at a faster annual pace in July as robust demand from the United States offset weak sales to China, separate trade data showed on Monday.nL1N2ZD005Asia's readings come ahead of factory surveys due out of the UK, euro zone and United States later in the day, which are expected to show similarly mixed conditions in the world's major industrialised economies.Register now for FREE unlimited access to Reuters.comReporting by Reuters bureaus; Writing by Sam Holmes;
Editing by Shri Navaratnam and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.","Asia's factories squeezed by higher prices, weak demand."
"A shopper wearing a face mask is pictured at a Dollar Tree store in Pasadena, California, U.S., June 11, 2020. REUTERS/Mario AnzuoniRegister now for FREE unlimited access to Reuters.comNEW YORK, Aug 1 (Reuters) - As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure.Generation Z consumers and those with low credit scores are falling behind on credit card and auto loan bills and accumulating credit card debt at a pace not seen since before the pandemic.For instance, credit card balances for people ages 25 and younger rose by 30% in the second quarter from a year earlier, compared with an increase of just 11% among the broader population, according to a random sampling of 12.5 million U.S. credit files compiled by credit score company VantageScore. Balances for non-prime borrowers, or people with credit scores below 660, rose by nearly 25% over the same period.Register now for FREE unlimited access to Reuters.comFor months, things have been looking good for U.S. consumers, their bank accounts padded by government stimulus, student loan forbearance and pandemic-era savings. Bank executives have consistently said consumers have healthy financial cushions and are spending money despite high inflation and the slowing economy. read more Now there are signs that some Americans have overextended their finances from traveling and dining out while paying down less debt on their credit cards, said Silvio Tavares, head of VantageScore. That contrasts with consumers' tendencies to pay off loans and be more frugal during the first year of the pandemic, according to Fed data.""The consumer is strong, their balance sheets are strong, and their repayment history on debt is strong relative to historical averages,"" Tavares said. ""However, there are areas of concern. Number one among them is consumers are adding leverage.""Federal Reserve Chairman Jerome Powell has said the clock is running out to bring down inflation, which is hovering at levels not seen since the 1980s. read more Data out on Thursday showed U.S. consumer spending grew at its slowest pace in two years, as the economy unexpectedly contracted in the second quarter. read more Those surging prices are causing consumers to cut back on discretionary spending, according to retail and consumer companies like Walmart Inc (WMT.N) and Tide-maker Procter & Gamble Co (PG.N), which lowered sales growth forecasts over the past week. read more Rapidly accelerating prices could exacerbate financial strains among young people and borrowers with low credit scores, Tavares said.Among non-prime borrowers, the percentage of credit card and auto loans that were more than 30 days past due also rose, VantageScore found. Credit card delinquency rates are now back to their pre-pandemic levels for young people and non-prime borrowers, the data showed.While the delinquency rates are not yet a cause for concern, ""it's definitely something to watch,"" Tavares said.""You can get a bit of a canary in a coal mine effect. If it happens with one group, sometimes it can spread to another group.""TransUnion, one of the big three consumer credit ratings agencies, estimates credit card delinquency rates could rise to 8.4% in the first quarter of 2023, up from 8% in the first quarter this year, if inflation remains high. read more The average debt held by a non-prime customer was $22,988 in the first quarter of 2022, excluding mortgages, according to TransUnion. That is up from $22,461 a year earlier, and $22,970 in the first quarter of 2020, before the pandemic began in the United States.Auto loans make up a significant chunk of that debt, as demand for vehicles soared in 2021 in the United States, pushing up the price and duration of loans for cars. read more An executive at one large U.S.-based auto lender that works with many non-prime consumers said that demand has upended the maxim that a car loses value as soon as it leaves the dealer.Customers who become 90-days delinquent are more frequently paying off their loan in full, said the executive, who asked not to be named discussing non-public information. That indicates borrowers are taking advantage of high car values to sell their car, rather than see it get repossessed.For now, delinquencies on auto loans are still lower than before the pandemic, the executive said.""We think things are going to get back to normal--we all expected that--but will they get worse than normal? That's the question.""CREDIT QUALITYAnother idiosyncrasy of the current U.S. economy is that the average credit score has risen over the pandemic, a result of consumers spending less and paying down debt.VantageScore's average score was 697 at the end of June, 13 points higher than in January 2020.Reuters GraphicsBank of America, the second-largest U.S. bank by assets, recently said the average credit score of its customers was 771.For the youngest and lowest-income consumers who more quickly feel the impacts of price shocks from inflation, those credit gains may be tenuous if they continue accumulating credit card debt, experts said.""Any new customers--or customers new to credit--are riskier,"" said Moshe Orenbuch, an analyst at Credit Suisse who studies banks' loan portfolios. ""A lot of that growth (in debt) is replacing balances people paid down in the early part of COVID.""Register now for FREE unlimited access to Reuters.comReporting by Elizabeth Dilts Marshall; Editing by Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.","Inflation begins to strain finances of young, low-income Americans."
"Register now for FREE unlimited access to Reuters.comLONDON, Aug 1 (Reuters) - A Luxembourg bailiff has ordered banks to freeze assets held by Ecuador at accounts in the country as a result of a dispute over a $391 million settlement award that Anglo-French oil company Perenco says remains unpaid, a document seen by Reuters show.Ecuador's government pledged in June 2021 to honor the debt, awarded Perenco by the World Bank's International Centre for Investment Disputes (ICSID) which ruled Ecuador had unlawfully ended a production-sharing agreement with the company. The country's solicitor general said last year that due to tight finances the government had contacted Perenco to negotiate a payment plan. read more ""Perenco has to date, more than one year later, still not received a single dollar from Ecuador,"" Perenco said in a statement on Monday, adding it will ""take steps to enforce its payments rights against Ecuador in Luxembourg and other jurisdictions.""Register now for FREE unlimited access to Reuters.comThe ministry of economy in Ecuador and the energy ministry were not immediately available to comment outside of regular business hours. Global law firm Hogan Lovells, legal advisors to Ecuador on U.S. law, was not immediately available to comment when called in London and Luxembourg.A spokesperson at the London office for Cleary Gottlieb Steen & Hamilton LLP's, legal advisers to the dealer manager on Ecuador's eurobonds, did not immediately respond to a request for comment.A document seen by Reuters shows a Luxembourg bailiff, Pierre Biel & Geoffrey Galle, on July 28 ordered 122 banking entities operating in Luxembourg to freeze assets in accounts used by Ecuador on behalf of Perenco. An employee at the bailiff declined to comment when contacted by Reuters because they are not authorized to speak to parties not involved in the case.Reuters could not immediately establish what assets Ecuador held in Luxembourg accounts. The banks named included Deutsche Bank, Credit Suisse and HSBC.Credit Suisse declined to comment, while HSBC and Deutsche bank did not immediately respond to requests for comment.The Latin American country two years ago defaulted on $17.4 billion of foreign debt as the nation buckled under one of the region's worst coronavirus outbreaks following years of economic stagnation.As part of the debt restructuring that followed, Ecuador sold new bonds maturing in 2030, 2035 and 2040 which are listed on the Luxembourg stock exchange.Many of these bonds had interest payments falling due on July 31.It was not immediately clear what impact a freeze might have on Ecuador's ability to make those payments. Holders of Ecuador's international bonds include major asset managers such as BlackRock, PIMCO and JPMorgan, according to data available on EMAXX, which provides details of funds' holdings based on their public disclosures. The asset managers were not immediately available for comment.The case that led to the ICSID award stemmed from a 2007 decree issued by then-President Rafael Correa that boosted the Ecuadorean state's take from sales of oil produced by private companies exceeding a certain level. read more Perenco sued Ecuador in 2008 and was ultimately awarded $412 million in May last year. Perenco is entitled to $391 million after taking into account compensation it was ordered to pay Ecuador for environmental damage caused in the areas where it operated in Blocks 7 and 21.President Guillermo Lasso, a conservative former banker who took office in May 2021, has promised to revive Ecuador's economy and attract investment - especially in oil and mining. read more ""Perenco remains hopeful that Ecuador's Government will finally honour its international obligations, demonstrate its commitment to the rule of law, and uphold its promises to foreign investors, by promptly satisfying the Award without further delay,"" the company said in its statement.Register now for FREE unlimited access to Reuters.comReporting by Rowena Edwards and Karin Strohecker in London; Additional reporting by Alexandra Valencia in Quito; Editing by Elisa Martinuzzi, Daniel WallisOur Standards: The Thomson Reuters Trust Principles.",Exclusive: Luxembourg banks told to freeze Ecuador assets amid Perenco dispute.
"Model of an LNG tanker is seen in this illustration taken May 19, 2022. REUTERS/Dado Ruvic/IllustrationRegister now for FREE unlimited access to Reuters.comSummaryCompaniesDecision in October on whether to restrict exports - ministerEast coast shortfall could equal 10% of demand - watchdogSupply gap equivalent to 14 LNG spot cargoesGovernment extends gas export control trigger to 2030Gas producers say ample gas available to fill shortfallMELBOURNE, Aug 1 (Reuters) - Australia said on Monday it will decide whether to curb exports of liquefied natural gas (LNG) after a watchdog urged restrictions, warning one of the world's biggest suppliers of the fuel could face a shortfall and soaring prices next year.The government's move, after a recommendation from the Australian Competition and Consumer Commission (ACCC), comes even as the country vies with Qatar and the United States as the world's top LNG exporter.The ACCC warned extra gas is needed to offset declining output at offshore fields that have long supplied the populous east coast, home to nearly 90% of Australia's population.Register now for FREE unlimited access to Reuters.comResources Minister Madeleine King said she would consult with LNG exporters and Australia's trading partners before making a decision in October. The ruling could affect fuel supplies and prices in 2023 for global consumers already roiled by gas disruptions due to the war in Ukraine.Export curbs would most likely impact the Gladstone LNG joint venture led by Santos Ltd (STO.AX), whose partners are TotalEnergies SA (TTEF.PA), Korea Gas Corp (KOGAS) (036460.KS) and Malaysia's Petronas (PETR.UL).The call for action came in an ACCC recommendation that the government pull the trigger on the Australian Domestic Gas Supply Mechanism. The measure set up in 2017 can be used to force the east coast's LNG exporters to divert gas to the domestic market to avert shortfalls.""Our latest gas report finds that the outlook for the east coast gas market has significantly worsened,"" ACCC Chair Gina Cass-Gottlieb said in a statement.The commission found that LNG exporters are likely to withdraw more gas from the domestic market than they plan to supply. A shortage of 56 petajoules is now expected, equivalent to around 10% of demand, or 14 LNG cargoes.Not only did the commission warn of a shortfall in 2023 but also said it was ""strongly encouraging LNG exporters to immediately increase their supply into the (Australian) market"".GOVERNMENT UNDER PRESSUREA global gas supply crunch has worsened in the wake of the Russia-Ukraine conflict. LNG buyers in Europe and Asia are competing for shipments to replace Russian gas, boosting prices and spurring Australia's producers to export uncontracted gas.The ACCC report comes after gas demand surged for power generation due to coal-fired plant outages and for heating. Rocketing demand sparked a steep rise in prices for both gas and power and nearly led to blackouts in eastern Australia in June. read more The findings add pressure on the newly elected Labor government to beef up local gas supply. Soaring prices have led gas-dependent manufacturers to threaten to shut plants and cut jobs. read more ""It's critical that our domestic gas supply is secure and competitively priced, particularly when households and businesses are under extreme pressure,"" Treasurer Jim Chalmers said.The gas industry's lobby group responded to the ACCC's call by highlighting that LNG exporters have 167 PJ of uncontracted gas available for the domestic market.""This is more than enough gas to ensure that no shortfall occurs,"" the Australian Petroleum Production and Exploration Association's acting chief executive Damian Dwyer said in a statement.TOUGHER MEASURESResources Minister King on Monday extended the Australian Domestic Gas Security Mechanism until 2030. She said she was also looking to strengthen the measure, potentially including a price trigger.The ACCC's report raises questions about exporters' ""social licence"", she said, as the LNG producers' commitment to supplying the domestic market had steadily declined since 2017.""The gas producers know this is damning for them,"" King told reporters at a televised media conference in Canberra.But she also said there was no point in seeking to break long-term contracts that had underpinned the development of the massive LNG export industry.""We want to be known and remain, as we are known, as a reliable trading partner,"" King said.Analysts said King will face pressure from others in her party to protect jobs for gas-dependent manufacturers.""We expect the government may declare a gas shortfall in 2023 and toughen up the regulatory framework, but ultimately pursue a 'voluntary' outcome whereby Queensland LNG producers agree to keep the market supplied for any shortfalls next year,"" Credit Suisse analyst Saul Kavonic said.Register now for FREE unlimited access to Reuters.comReporting by Sonali Paul and Renju Jose; Editing by Kenneth MaxwellOur Standards: The Thomson Reuters Trust Principles.",Australia considers curbing gas exports to avert domestic supply crunch.
"Medical staff treat a coronavirus disease (COVID-19) patient on the Intensive Care Unit (ICU) at the Cleveland Clinic in Cleveland, Ohio, U.S., January 7, 2022. REUTERS/Shannon Stapleton/File PhotoRegister now for FREE unlimited access to Reuters.comLONDON/CHICAGO, Aug 1 (Reuters) - As the third winter of the coronavirus pandemic looms in the northern hemisphere, scientists are warning weary governments and populations alike to brace for more waves of COVID-19.In the United States alone, there could be up to a million infections a day this winter, Chris Murray, head of the Institute of Health Metrics and Evaluation (IHME), an independent modeling group at the University of Washington that has been tracking the pandemic, told Reuters. That would be around double the current daily tally.Across the United Kingdom and Europe, scientists predict a series of COVID waves, as people spend more time indoors during the colder months, this time with nearly no masking or social distancing restrictions in place.Register now for FREE unlimited access to Reuters.comHowever, while cases may surge again in the coming months, deaths and hospitalizations are unlikely to rise with the same intensity, the experts said, helped by vaccination and booster drives, previous infection, milder variants and the availability of highly effective COVID treatments.""The people who are at greatest risk are those who have never seen the virus, and there's almost nobody left,"" said Murray.These forecasts raise new questions about when countries will move out of the COVID emergency phase and into a state of endemic disease, where communities with high vaccination rates see smaller outbreaks, possibly on a seasonal basis.Many experts had predicted that transition would begin in early 2022, but the arrival of the highly mutated Omicron variant of coronavirus disrupted those expectations.""We need to set aside the idea of 'is the pandemic over?'"" said Adam Kucharski, an epidemiologist at the London School of Hygiene and Tropical Medicine. He and others see COVID morphing into an endemic threat that still causes a high burden of disease.""Someone once told me the definition of endemicity is that life just gets a bit worse,"" he added.The potential wild card remains whether a new variant will emerge that out-competes currently dominant Omicron subvariants.If that variant also causes more severe disease and is better able to evade prior immunity, that would be the ""worst-case scenario,"" according to a recent World Health Organization (WHO) Europe report.""All scenarios (with new variants) indicate the potential for a large future wave at a level that is as bad or worse than the 2020/2021 epidemic waves,"" said the report, based on a model from Imperial College of London.CONFOUNDING FACTORSMany of the disease experts interviewed by Reuters said that making forecasts for COVID has become much harder, as many people rely on rapid at-home tests that are not reported to government health officials, obscuring infection rates.BA.5, the Omicron subvariant that is currently causing infections to peak in many regions, is extremely transmissible, meaning that many patients hospitalized for other illnesses may test positive for it and be counted among severe cases, even if COVID-19 is not the source of their distress.Scientists said other unknowns complicating their forecasts include whether a combination of vaccination and COVID infection – so-called hybrid immunity – is providing greater protection for people, as well as how effective booster campaigns may be.""Anyone who says they can predict the future of this pandemic is either overconfident or lying,"" said David Dowdy, an infectious disease epidemiologist at Johns Hopkins Bloomberg School of Public Health.Experts also are closely watching developments in Australia, where a resurgent flu season combined with COVID is overwhelming hospitals. They say it is possible that Western nations could see a similar pattern after several quiet flu seasons.""If it happens there, it can happen here. Let's prepare for a proper flu season,"" said John McCauley, director of the Worldwide Influenza Centre at the Francis Crick Institute in London.The WHO has said each country still needs to approach new waves with all the tools in the pandemic armory – from vaccinations to interventions, such as testing and social distancing or masking.Israel's government recently halted routine COVID testing of travelers at its international airport, but is ready to resume the practice ""within days"" if faced with a major surge, said Sharon Alroy-Preis, head of the country's public health service.""When there is a wave of infections, we need to put masks on, we need to test ourselves,"" she said. ""That's living with COVID.""Register now for FREE unlimited access to Reuters.comReporting by Jennifer Rigby and Julie Steenhuysen; Additional reporting by Maayan Lubell; Editing by Michele Gershberg and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.",'Living with COVID': Where the pandemic could go next.
"People eat as a television broadcasts news about U.S. House of Representatives Speaker Nancy Pelosi, at a restaurant in Taipei, Taiwan, August 1, 2022. REUTERS/Ann WangRegister now for FREE unlimited access to Reuters.comBEIJING, Aug 1 (Reuters) - China said on Monday that its military ""not sit idly by"" if U.S. House of Representatives Speaker Nancy Pelosi visits Taiwan.The latest warning was issued during a Chinese foreign ministry regular briefing. Spokesperson Zhao Lijian also said that because of Pelosi's status as the ""No. 3 official of the U.S. government"", a visit to Taiwan, which China claims as its own, would ""lead to egregious political impact"".Pelosi was set to kick-off a tour of four Asian countries on Monday in Singapore amid intense speculation that she may risk the wrath of Beijing by also visiting self-ruled Taiwan. read more Register now for FREE unlimited access to Reuters.comWriting by Eduardo Baptista, Martin Pollard in Beijing, editing by Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.",China warns its military will 'not sit idly by' if Pelosi visits Taiwan.
"Britain's Rishi Sunak speaks to Tory members at Fontwell Park Racecourse as part of his campaign to be leader of the Conservative Party and the next prime minister, in Fontwell, Britain, July 30, 2022. Joe Sene/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comLONDON, July 31 (Reuters) - Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029 in a potentially make-or-break throw of the dice by the former finance minister.Sunak, once seen as the favourite to replace Boris Johnson when he helped to steer the economy through the ravages of the COVID-19 pandemic, has struggled against his rival, Foreign Secretary Liz Truss, who has pledged immediate tax cuts.Sunak said he remained focused on tackling inflation but once that was achieved he would follow through on an already-announced plan to take 1 pence off income tax in 2024, and then take a further 3 pence off by the end of the next parliament, likely around 2029.Register now for FREE unlimited access to Reuters.comThe two pledges would take income tax from 20p to 16p.Sunak said the plan would mark the biggest income tax cut since the time of Margaret Thatcher.""It is a radical vision but it is also a realistic one,"" he said in a statement late on Sunday, a day before Conservative Party members are due to start receiving their ballot papers to vote for the party's new leader.Sunak told BBC Radio on Monday he would fund the tax cut by growing the economy and being disciplined with public spending.Britain's hunt for a new prime minister was triggered on July 7 when Johnson was forced to announce his resignation following months of scandal. Conservative lawmakers have whittled a field of candidates down to Truss and Sunak, with an announcement of the decision by party members due on Sept. 5.With inflation surging to a 40-year high of 9.4% and growth stalling, the economy dominated early stages of the contest, with Sunak arguing that Truss's plan to reverse a rise in social security contributions and cancel a planned rise in corporation tax would stoke inflation further.""I don't think embarking on a spree of excessive borrowing at a time when inflation and interest rates are already on the rise would be wise,"" Sunak said.Sunak said each penny cut from the rate of income tax would cost around 6 billion pounds ($7.3 billion) a year, a figure that he said would still allow Britain's debt-to-GDP ratio to fall, if the economy grows in line with official forecasts.Truss has argued that tax cuts are needed now to give the economy a shot in the arm. A recent poll by YouGov showed Truss held a 24-point lead over Sunak among Conservative Party members.($1 = 0.8220 pounds)Register now for FREE unlimited access to Reuters.comReporting by Kate Holton and Kylie MacLellan; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",British PM candidate Sunak vows 20% income tax cut by 2029.
"Britain's Rishi Sunak speaks to Tory members at Fontwell Park Racecourse as part of his campaign to be leader of the Conservative Party and the next prime minister, in Fontwell, Britain, July 30, 2022. Joe Sene/Pool via REUTERSRegister now for FREE unlimited access to Reuters.comLONDON, July 31 (Reuters) - Rishi Sunak, trailing in the race to become Britain's next prime minister, has vowed to slash the basic rate of income tax by 20% by 2029 in a potentially make-or-break throw of the dice by the former finance minister.Sunak, once seen as the favourite to replace Boris Johnson when he helped to steer the economy through the ravages of the COVID-19 pandemic, has struggled against his rival, Foreign Secretary Liz Truss, who has pledged immediate tax cuts.Sunak said he remained focused on tackling inflation but once that was achieved he would follow through on an already-announced plan to take 1 pence off income tax in 2024, and then take a further 3 pence off by the end of the next parliament, likely around 2029.Register now for FREE unlimited access to Reuters.comThe two pledges would take income tax from 20p to 16p.Sunak said the plan would mark the biggest income tax cut since the time of Margaret Thatcher.""It is a radical vision but it is also a realistic one,"" he said in a statement late on Sunday, a day before Conservative Party members are due to start receiving their ballot papers to vote for the party's new leader.Sunak told BBC Radio on Monday he would fund the tax cut by growing the economy and being disciplined with public spending.Britain's hunt for a new prime minister was triggered on July 7 when Johnson was forced to announce his resignation following months of scandal. Conservative lawmakers have whittled a field of candidates down to Truss and Sunak, with an announcement of the decision by party members due on Sept. 5.With inflation surging to a 40-year high of 9.4% and growth stalling, the economy dominated early stages of the contest, with Sunak arguing that Truss's plan to reverse a rise in social security contributions and cancel a planned rise in corporation tax would stoke inflation further.""I don't think embarking on a spree of excessive borrowing at a time when inflation and interest rates are already on the rise would be wise,"" Sunak said.Sunak said each penny cut from the rate of income tax would cost around 6 billion pounds ($7.3 billion) a year, a figure that he said would still allow Britain's debt-to-GDP ratio to fall, if the economy grows in line with official forecasts.Truss has argued that tax cuts are needed now to give the economy a shot in the arm. A recent poll by YouGov showed Truss held a 24-point lead over Sunak among Conservative Party members.($1 = 0.8220 pounds)Register now for FREE unlimited access to Reuters.comReporting by Kate Holton and Kylie MacLellan; Editing by Andrew CawthorneOur Standards: The Thomson Reuters Trust Principles.",British PM candidate Sunak vows 20% income tax cut by 2029.
"Elizabeth Waithera who was vying for a Member of County Assembly (MCA) seat in Mlango Kubwa ward and was attacked while on her campaign tour poses for a photograph after an interview with Reuters in the Mathare slums Nairobi, Kenya. July 28, 2022. REUTERS/Monicah MwangiRegister now for FREE unlimited access to Reuters.comSummaryKenya holds national and regional elections on Aug 9Violent attacks seen deterring women from running for officeWomen candidates blame rivals for attacksGender quotas for representation have never been metNAIROBI, Aug 1 (Reuters) - Liz Njue, a Kenyan psychologist who wanted to stand for a county assembly seat, had just arrived to vote in her party primary when opponents attacked her, pulling her hair and tearing her blouse. She fled without casting her ballot and lost the race.Njue is one of dozens of female candidates who have been physically assaulted during campaigning for presidential, legislative and local elections on Aug. 9, according to the Kenya Women Parliamentary Association.Such violence deters all but the most determined women from contesting, said Mercy Mwangi, the association's programme coordinator, adding that most cases go unreported.Register now for FREE unlimited access to Reuters.com""People are saying, 'We want women in politics, we want more women to get these political seats'. But how are they going to get them if they are humiliated?"" said 39-year-old Njue.She reported her attack to the police, but said there had been no arrests. Police spokesperson Bruno Isohi Shioso said Njau's case remains open and active.It's unclear who organises most attacks but candidates suspect their competitors.
None of the major political parties responded to requests for comment on the issue.Violence against women is not confined to the political arena. Nearly half of women in Kenya experience gender-based violence, according to the Gender Violence Recovery Centre at the Nairobi Women's Hospital.BACKLASHCandidates say they suffer constant intimidation.Mary Mugure, a former sex worker, received threatening phone calls and text messages while running for a county assembly this year. In November, two men on a motorbike attacked her while she was walking down the street.""It was just to intimidate me, to make me step down,"" said Mugure, who continued campaigning but lost the nomination.One 2020 study published by Cambridge University Press said a constitutional requirement established a decade earlier -that no gender should have more than two-thirds of the elected or appointed positions - may have created a backlash against women.The quota has never been met. There are 75 women in the 349-member lower house, including 47 seats reserved specifically for women. Women make up about a third of the upper house. Only three out of 47 county governors are women.No woman has served as Kenyan president or vice president, although one of the current presidential front-runners, Raila Odinga, has a female running mate.In neighbours Ethiopia, Tanzania and Uganda, more than a third of parliamentarians are women, the Inter-Parliamentary Union said. Ethiopia and Tanzania have female presidents.FIGHTING ONOccasionally, there's a happy ending. Sarah Korere, legislator for Laikipia North constituency, was assaulted by a fellow parliamentarian in 2016.She ended up taking his seat the next year, climbing from a reserved women's seat into the mainstream - a move that comes with a significantly bigger budget. She used that money and donations to build a new school, she said.Her assailant was jailed for a year in 2020 but released after three months. He is now trying to reclaim his seat - but these days he is more polite, said Korere.The opponent, Matthew Lempurkel, could not be reached for comment. His lawyer James Orengo did not return calls seeking comment.""When he (Lempurkel) was jailed it was a very good message,"" she said. ""It was a win for Kenyan women.""Register now for FREE unlimited access to Reuters.comAdditional reporting by Katharine Houreld
Editing by Gareth JonesOur Standards: The Thomson Reuters Trust Principles.",Women candidates in Kenyan elections endure abuse and attacks.