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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.

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.

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.

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.

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.

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.

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.

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.

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'.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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'.

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.

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.

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.

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.

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.

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.

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.

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".

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.

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? [email protected]

AGCO CEO says he expects grain shortage to last into next year.

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.

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.

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.

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.

[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.

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.

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.

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.

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.

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.

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’.

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.

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.

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".

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 [email protected]

Judge hits pause in Intel patent case, says VLSI must detail investors.

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.

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.

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.

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.

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.

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.

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".

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.

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.

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.