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☆ The Senate’s Supreme Court Subpoena Games
▼ + stars: | 2023-12-01 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

The House Oversight Committee investigating Biden family business dealings has issued subpoenas to Hunter and James Biden to appear for depositions. Also requested for transcribed interviews are family members and associates including Sara and Hallie Biden. In a rush of rule-breaking at the end of a meeting, Mr. Durbin moved to bluster through subpoenas for two friends of Supreme Court Justices on a partisan vote. This is part of a Democratic political campaign to portray the High Court as a trinket bought by billionaires. “The pair have become genuine friends, according to people who know both men,” as even the left-leaning ProPublica admitted.

Persons: Biden, Hunter, James Biden, Sara, Hallie Biden, Mark Kelly Illinois, Dick Durbin, Durbin, Clarence Thomas, Harlan Crow, ProPublica Organizations: Reuters, Democratic

☆ Henry Kissinger, American diplomat and Nobel winner, dead at 100
▼ + stars: | 2023-11-30 | by ( ) www.reuters.com time to read: +10 min

Former U.S. Secretary of State Henry Kissinger speaks at the International Economic Forum of the Americas/Conference of Montreal in 2008. U.S. President Richard Nixon and National Security Adviser Henry Kissinger stand on Air Force One during their voyage to China February 20, 1972. U.S. President Gerald Ford meets with Secretary Kissinger at Camp David, U.S., July 5, 1975. In 1973, in addition to his role as national security adviser, Kissinger was named secretary of state - giving him unchallenged authority in foreign affairs. But Ford did replace him as national security adviser in an effort to hear more voices on foreign policy.

Persons: Henry Kissinger, Shaun Best, Kissinger, Richard Nixon, Xi Jinping, Nixon's, Gerald Ford, Duc Tho, Gerald R, Ford, Henry, Heinz Alfred Kissinger, Anglicizing, Lyndon Johnson's, Nixon, Nelson A . Rockefeller, Henry A, Roosevelt, Premier Zhou Enlai, Mao Zedong, China Winston Lord, Leonid Brezhnev, Brezhnev, Gromyko, Dobrynin, Salvador Allende, Jimmy Carter, Ronald Reagan, George W, Bush, Ann Fleischer, Nancy Maginnes, New York Governor Nelson Rockefeller, Abinaya, Sandra Maler Organizations: U.S, International Economic, Americas, Conference of, REUTERS, Kissinger Associates, New York City . U.S, National Security, Air Force, Richard Nixon Presidential, REUTERS Acquire, House, Republican, Paris Peace, Camp David, Ford Library, HARVARD, Nazi, Army, Harvard University, State Department, Office, White, Communist, Premier, Former U.S, Reuters, Ford, Soviet, CIA, Democrat, New York Governor, Thomson Locations: Conference of Montreal, Connecticut, New York City ., China, North Korea, Beijing, U.S, Israel, Paris, North Vietnam, America, North, Cambodia . U.S, Camp, Washington and New York, Voluble, Furth, Germany, United States, Europe, Vietnam, South Vietnam, Washington DC, Cambodia, Jerusalem, Damascus, Syria, Golan, Vladivostok, Soviet Union, Russian, Russia, Egypt, Sinai, India, Pakistan, Washington, New York, Bengaluru

☆ President Biden’s Thanksgiving Dinner
▼ + stars: | 2023-11-24 | by ( The Editorial Board | ) www.wsj.com time to read: +1 min

The House Oversight Committee investigating Biden family business dealings has issued subpoenas to Hunter and James Biden to appear for depositions. Images: AP/Reuters/House Oversight Committee Composite: Mark KellyAmericans have much to be grateful for—even in a year marked by political division at home, wars abroad, and a cloudy economy. One thing they could probably do without, however, is a White House and media that keep telling them how happy they should be with Bidenomics. The latest White House lecture is that inflation has fallen from 9.1% in June 2022 to 3.2% last month. Thanksgiving dinner prices are rising less fast than they did in the last two years, but they’re still rising.

Persons: Biden, Hunter, James Biden, Sara, Hallie Biden, Mark Kelly, —, Let’s Organizations: Reuters Locations: White

☆ WSJ Opinion: Biden Family Subpoenas and ‘Loan Repayments’
▼ + stars: | 2023-11-19 | by ( Wsj Opinion | ) www.wsj.com time to read: 1 min

WSJ Opinion: Biden Family Subpoenas and ‘Loan Repayments’The House Oversight Committee investigating Biden family business dealings has issued subpoenas to Hunter and James Biden to appear for depositions. Also requested for transcribed interviews are family members and associates including Sara and Hallie Biden. Images: AP/Reuters/House Oversight Committee Composite: Mark Kelly

Persons: Biden, Hunter, James Biden, Sara, Hallie Biden, Mark Kelly Organizations: Reuters

☆ The GOP Wins One Over George Soros
▼ + stars: | 2023-11-18 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The House Oversight Committee investigating Biden family business dealings has issued subpoenas to Hunter and James Biden to appear for depositions. Also requested for transcribed interviews are family members and associates including Sara and Hallie Biden. Images: AP/Reuters/House Oversight Committee Composite: Mark KellyButa Biberaj this week conceded she lost to Republican Bob Anderson in her bid for re-election as Loudoun County’s Commonwealth Attorney. Ms. Biberaj is a progressive, George Soros -financed prosecutor, and Mr. Anderson campaigned as a law-and-order candidate. Ms. Biberaj had stopped prosecuting some misdemeanors, and she pointed to the drop in violent crime during her watch as evidence of her success.

Persons: Biden, Hunter, James Biden, Sara, Hallie Biden, Mark Kelly Buta, Republican Bob Anderson, Biberaj, George Soros, Anderson Organizations: Reuters, Republican, Loudoun County’s Commonwealth

☆ Wall St ends sharply lower, posts weekly losses; Mideast fears increase
▼ + stars: | 2023-10-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

All of the S&P 500 index's 11 sectors ended lower in broad-based selling, with technology (.SPLRCT) and financials (.SPYS) among the biggest drags. The S&P 500 financial index (.SPSY) was down 1.6% while the KBW regional banking index (.KRX) fell 3.5%. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsFor the week, the Dow was down 1.6%, the S&P 500 fell 2.4% and the Nasdaq slid 3.2%. The third-quarter U.S. earnings season is well under way, with 86 companies in the S&P 500 having reported. The S&P 500 posted no new 52-week highs and 38 new lows; the Nasdaq Composite recorded nine new highs and 420 new lows.

Persons: Alan Lancz, Alan B, Lancz, Jerome Powell, Brendan McDermid, Dow, advancers, Caroline Valetkavitch, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: Treasury, Dow, Nasdaq, Lancz, Associates Inc, Regions, Federal, Dow Jones, Wall, REUTERS, American Express, NYSE, Thomson Locations: Israel, Gaza, Toledo , Ohio, U.S, New York, Bengaluru

☆ Wall St ends sharply lower with tech, financials; Mideast fears increase
▼ + stars: | 2023-10-20 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

A street sign for Wall Street is seen in the financial district in New York, U.S., November 8, 2021. All of the S&P 500 index's 11 sectors fell in broad-based selling. The KBW regional banking index (.KRX) was down sharply, while shares of Regions Financial (RF.N) slid to their lowest since March 2020. The benchmark 10-year Treasury yield fell on Friday, a day after crossing 5% for the first time since July 2007 in the wake of comments by Federal Reserve Chair Jerome Powell. The third-quarter U.S. earnings season is well under way, with 86 companies in the S&P 500 having reported.

Persons: Brendan McDermid, Alan Lancz, Alan B, Jerome Powell, Lancz, Caroline Valetkavitch, Shubham Batra, Shashwat Chauhan, Arun Koyyur, Vinay Dwivedi, Richard Chang Organizations: Wall, REUTERS, Treasury, Major U.S, Regions, Lancz, Associates Inc, Federal, Nasdaq, Dow Jones, Thomson Locations: New York, U.S, Major, Israel, Toledo , Ohio, Gaza, Bengaluru

* "Sedoi" is the nom de guerre of Andrei Troshev, a senior Wagner commander, according to European Union sanctions documents, French official documents, sources with knowledge of the matter and Russian media reports. * The EU described him as the "executive director (chief of staff) of the Wagner Group" in its 2021 document which also says he was a founding member of the group. "Andrei Troshev is directly involved in the military operations of the Wagner Group in Syria," the EU said. Britain also described him in its Syria sanctions documents as the chief executive of Wagner. Western sanctions documents list his date of birth as April 5, 1953.

Persons: Vladimir Putin, Yevgeny Prigozhin, Andrei Troshev, Wagner, France's, Dmitry Utkin, Troshev, Putin, Bashar al, of, Guy Faulconbridge, Angus MacSwan Organizations: Wagner Group, France's Treasury, Kommersant, Wagner, St, Red Star, Islamic State, Thomson Locations: MOSCOW, EU, Syria, Deir, Britain, Leningrad, Soviet, St Petersburg, Afghanistan, Soviet Union, North Caucasus, SOBR, Russian, of Russia, Palmyra, Utkin

CNN —Russian President Vladimir Putin has proposed to Wagner Group fighters that a senior mercenary named Andrey Troshev now command the private military group, according to comments the Russian leader made to the Kommersant newspaper. Who is Andrey Troshev? “Andrey Troshev is directly involved in the military operations of the Wagner Group in Syria. Troshev is also associated with Wagner group commanders Aleksandr Sergeevich Kuznetsov and Andrey Bogatov. Members of Wagner group sit atop of a tank in a street in the city of Rostov-on-Don, on June 24, 2023.

Persons: Vladimir Putin, Andrey Troshev, Putin, Wagner, Yevgeny Prigozhin, –, ‘, ” Putin, Troshev, “ Andrey Troshev, Bashar al, “ Andrey Nikolaevich Troshev, ”, Dimitriy Utkin, Aleksandr Sergeevich Kuznetsov, Andrey Bogatov, Roman Romokhov, Prigozhin, Alexander Lukashenko Organizations: CNN, Wagner Group, Kommersant, Prigozhin, Wagner, European Union, Soviet Union, Federal District, Red Star, Courage, Merit, Fatherland, Kremlin, Getty, Troshev, Belarusian Locations: Russian, France, Syria, Leningrad, Deir, United Kingdom, Chechnya, Afghanistan, Soviet Union, Rostov, AFP, Ukraine, Belarus, Belarusian, Russia, St . Petersburg

☆ Wall St ends up, extends recent gains on cooling US inflation
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +4 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. Technology-related shares provided the most support to the S&P 500, and an index of tech-focused shares including megacaps (.NYFANG) gained 2.7% and registered a record high close. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 7, 2023. The S&P 500 posted 51 new 52-week highs and one new low; the Nasdaq Composite recorded 135 new highs and 39 new lows.

Persons: Mona Mahajan, Edward Jones, Brendan McDermid, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Dow, Nasdaq, Federal Reserve, PPI, . Technology, Dow Jones, Nvidia, New York Stock Exchange, REUTERS, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, U.S, NYSE, Thomson Locations: U.S, Philadelphia, New York City, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Wall St ends up, extends recent gains after producer prices data
▼ + stars: | 2023-07-13 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Wednesday's CPI report showed U.S. consumer prices registered their smallest annual increase in more than two years. The reports have helped to support the view the Federal Reserve will stop hiking rates after an expected 25 basis points rate increase later this month. "PPI is another confirmation this week that inflation continues to trend in the right direction even as we see better overall labor market and consumer data. According to preliminary data, the S&P 500 (.SPX) gained 37.73 points, or 0.84%, to end at 4,509.89 points, while the Nasdaq Composite (.IXIC) gained 219.35 points, or 1.58%, to 14,138.31. Delta Air Lines (DAL.N) shares gained after it lifted its full-year profit outlook following stronger-than-expected second-quarter earnings on a relentless post-pandemic travel boom.

Persons: Mona Mahajan, Edward Jones, JPMorgan Chase, Alan Lancz, Alan B, Bard, Caroline Valetkevitch, Johann M Cherian, Sinead Carew, Shashwat Chauhan, Saumyadeb Chakrabarty, Maju Samuel, Deepa Babington Organizations: Delta Air Lines, Federal Reserve, PPI, Nasdaq, Dow Jones, Nvidia, JPMorgan, Lancz, Associates Inc, Air Lines, PepsiCo, Google, Inc, Thomson Locations: Philadelphia, Toledo , Ohio, Europe, Brazil, Bengaluru, New York

☆ Investors await crucial US debt ceiling vote
▼ + stars: | 2023-05-31 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

The S&P 500 closed down 0.6% on Wednesday in a decline some analysts pinned partly on remaining uncertainty over the vote. Debt ceiling concerns periodically weighed on stock markets over the last week, although most investors expected an 11th-hour agreement. Investors have viewed the possibility of a U.S. default as an unlikely but potentially catastrophic event for global markets. "Investors do think it's going to pass. McCarthy predicted that the vote, expected around 8:30 p.m. (0030 GMT), would succeed, telling reporters, "It's going to become law."

Persons: Alan B, ”, Brad McMillan, Kevin McCarthy's, Joe Biden's, Quincy Krosby, it's, McCarthy, Caroline Valetkevitch, Ira Iosebashvili, David Gregorio Our Organizations: U.S . House, Lancz, Associates Inc, Commonwealth Financial Network, Treasury, White, House Republicans, Kevin McCarthy's Republicans, Investors, Senate, LPL, Thomson Locations: U.S, “

☆ Wall Street ends down on nagging uncertainty about Fed rate path
▼ + stars: | 2023-05-03 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

It increased interest rates by a quarter of a percentage point, as expected, and signaled it could pause further hikes. The unanimous decision lifted the U.S. central bank's benchmark overnight interest rate to the 5.00%-5.25% range, the 10th consecutive increase since March 2022. Powell said the Fed still views inflation as too high, and said it was too soon to say the rate hike cycle is over. All of the major S&P 500 sectors ended lower, with energy (.SPNY) and financials (.SPSY) down the most. The S&P 500 posted 24 new 52-week highs and 12 new lows; the Nasdaq Composite recorded 64 new highs and 266 new lows.

☆ Chatbots Are Stepping Toward Supply Chains
▼ + stars: | 2023-04-19 | by ( Liz Young | ) www.wsj.com time to read: 1 min

Logistics experts say chatbots could be used to tell companies in simple language how to plan their inventories. Photo: ANP/Zuma PressLogistics experts are trying to find out whether the latest development in artificial intelligence, a chatbot that has triggered a global race to refine the technology for work tasks, can tell them how to fix their supply chains. Big software providers including Blue Yonder Group Inc., SAP SE and Manhattan Associates Inc. have research programs under way looking at how the tech known as generative AI can improve forecasting, procurement, inventory management and even the nuts and bolts of shipping decisions.

☆ Technology Chiefs Seek Help Wrangling Cloud Costs
▼ + stars: | 2023-03-03 | by ( Belle Lin | ) www.wsj.com time to read: +6 min

Some chief information officers have turned to cloud management tools and established internal teams to oversee their cloud spending. Mr. Nimboorkar said the company has since built a dedicated team to manage its Amazon Web Services spending and invested in a third-party cloud spending management tool. Executives from all three cloud giants have said customers are optimizing or reining in their cloud spending, citing economic factors. Many of the best practices in cloud spending management have been codified by the nonprofit FinOps Foundation, which promotes cloud financial literacy and accountability, she said. That model allows Mr. Kanchi to wholly manage cloud spending, he said, but was only possible after UST figured out how to tag cloud usage by its various business units.

☆ Chief of Digital Freight Startup Transfix Steps Down
▼ + stars: | 2023-03-02 | by ( Paul Berger | ) www.wsj.com time to read: +3 min

Digital freight startup Transfix Inc. said on Thursday that Chief Executive Lily Shen was stepping down and would be succeeded by the company’s co-founder and chief technology officer, Jonathan Salama. “I understand the challenges, and Lily and I have a strong plan for the future.”Lily Shen has resigned as chief executive of digital freight broker Transfix. Jonathan Salama is a co-founder and the new chief executive of Transfix. In place of the SPAC, G Squared and another Transfix backer, New Enterprise Associates Inc., led a private funding round. She became chief operating officer the same year and in 2020 took over as chief executive.

☆ Paris Club creditors give assurances to back IMF bailout for Sri Lanka
▼ + stars: | 2023-02-07 | by ( Jorgelina Do Rosario | ) www.reuters.com time to read: +3 min

[1/3] A woman buys vegetables from a vendor at a market in the rampant food inflation, amid Sri Lanka's economic crisis, in Colombo, Sri Lanka, July 30 , 2022. REUTERS/Kim Kyung-HoonFeb 7 (Reuters) - The Paris Club of creditors has given financing assurances to support the International Monetary Fund's approval of an extended fund facility for Sri Lanka, the Sri Lankan president's office said on Tuesday. The financing assurances from the Paris Club, which includes Japan - Sri Lanka's second biggest bilateral lender - was previously reported by Reuters. "Members further expressed appreciation for the specific and credible financing assurances issued by India on Jan. 16, 2023 and its coordination with the Paris Club," the group's statement added. Sri Lanka has to restructure debt payments of about $13 billion on 11 international bonds.

☆ IT Job Market Shrinks for First Time in Over Two Years
▼ + stars: | 2023-02-06 | by ( Belle Lin | ) www.wsj.com time to read: +4 min

The job market for information-technology professionals shrank in January for the first time in over two years, a sign that IT staffers are facing the same scrutiny as workers in other positions and sectors as companies slow spending. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. The McLean, Va.-based bank said those roles would be absorbed by its existing engineering teams and product managers. Still, employment in the overall technology sector hasn’t wavered, according to IT trade group CompTIA. “Not only do we need to provide capabilities to propel the business forward, but we need the best engineering tools, modern architectures and people in the right roles to respond to changing market conditions,” Ms. Caldas said.

☆ C.H. Robinson Reaches Standstill Agreement With Activist Investor
▼ + stars: | 2023-01-10 | by ( Paul Berger | ) www.wsj.com time to read: +4 min

Robinson Worldwide Inc. has reached an agreement to work with its activist investors as analysts said new board member Jim Barber would be a strong candidate to lead the company. Robinson’s board. Robinson’s then board chair as interim CEO as the board said it would start an immediate search for a permanent successor. Robinson’s board, said Monday that Mr. Biesterfeld’s firing was a board decision. Robinson has retained executive search firm Russell Reynolds Associates Inc. to find a permanent chief executive.

☆ Freight Broker C.H. Robinson Ousts CEO Bob Biesterfeld
▼ + stars: | 2023-01-03 | by ( Liz Young | ) www.wsj.com time to read: +6 min

Mr. Anderson, 56, stepped down as chair, a position he has held since 2020. Mr. Anderson doesn’t plan to be considered as a candidate for the permanent position, according to the securities filing. Robinson and this exceptional team,” Mr. Biesterfeld said in a statement released by the company. Robinson is by far the largest player in the U.S. freight brokerage market, one that matches freight shippers with available trucks. “We got ahead of ourselves in terms of head count,” Mr. Biesterfeld said on Nov. 2.

☆ Geodis’s Marie-Christine Lombard Sees Global Forces Continuing to Reshape Trade Flows
▼ + stars: | 2022-12-28 | by ( Paul Berger | ) www.wsj.com time to read: +6 min

Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. MS. LOMBARD: The supply chain used to be quite seamless and fluid. The world order has a huge impact on the supply chain and its stability. The difference is that the supply chain itself was not disrupted. The entire supply chain is being rethought and recalibrated and re-costed.

Bonus payout discussions are currently underway at Morgan Stanley globally, they said. Morgan Stanley, which does not disclose details of bonus payouts, declined to comment. Wall Street investment bankers can expect much smaller bonuses this year as the economy slows, according to projections published last month by Johnson Associates Inc, a compensation consultant in New York. This year's bonus discussions are taking place after Morgan Stanley CEO James Gorman said earlier this month that the bank was making "modest job cuts" worldwide. Morgan Stanley reported a 30% slump in third-quarter profit in October, missing analysts' estimate as a slowdown in global dealmaking hurt its investment banking business.

☆ Macau Under Spotlight Amid U.S. Inspections of China-Based Audits
▼ + stars: | 2022-11-13 | by ( Mark Maurer | ) www.wsj.com time to read: +8 min

The PCAOB, which began inspections of China-based audits in September, will decide by year-end whether China is complying with the agreement. “We do not know if these firms, especially in the U.S., have been adequately supervising the Macau firms,” she said. The Macau firms’ work isn’t immune from PCAOB inspection. PwC Macau is a separate legal entity, but it is run as part of the firm’s China operations, a spokesman said. “The China firm is taking responsibility, treating it as a branch office,” Ms. McKenna said.

☆ Joan E. Lappin Made Mark on Wall Street When Women Were Scarce
▼ + stars: | 2022-11-04 | by ( James R. Hagerty | ) www.wsj.com time to read: 1 min

‘To be a successful portfolio manager you have to have an ego the size of a house,’ said Joan E. Lappin. Joan Berger, later known by her married name of Joan E. Lappin, was a rarity in the late 1960s as a female investment analyst in New York. Her employer, Equity Research Associates Inc., tried to exploit that novelty with a 1969 ad in Institutional Investor magazine. “What’s a nice girl like Joan doing on Broad Street?” the ad asked. A phone number was provided for money managers wishing to meet her.

☆ Oil prices extend losses on fears aggressive Fed rate hike will curb demand
▼ + stars: | 2022-09-21 | by ( Yuka Obayashi | ) www.reuters.com time to read: +3 min

Pumpjacks are seen during sunset at the Daqing oil field in Heilongjiang province, China August 22, 2019. Brent crude futures dropped 26 cents, or 0.3%, to $90.36 a barrel by 0040 GMT after falling $1.38 the previous day. Gasoline inventories rose by about 3.2 million barrels, while distillate stocks rose by about 1.5 million barrels. API/U.S. crude oil and distillate stockpiles were expected to have risen last week, while gasoline inventories were seen lower, according to an extended Reuters poll. The shortfall highlights underlying tightness of supply in the market, even as recession fears drag prices lower.

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