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☆ The Dali Is a Big Ship. But Not the Biggest.
▼ + stars: | 2024-03-28 | by ( Ella Koeze | ) www.nytimes.com time to read: +4 min

Empire State Building Approximate width 1,454 feet long MSC Irina Biggest container ship in the world 200 feet wide 24,346 containers 1,312 feet Ever Max Biggest container ship to sail into Baltimore 167 feet 15,432 containers 1,201 feet Eiffel Tower 410 feet 1,083 feet Dali 157 feet 9,971 containers 984 feet Container ship of the 1970s ~2,500 containers 66 feet 705 feet Football field Shapes are approximate. 160 feet 360 feet Empire State Building Approximate width 1,454 feet long MSC Irina Biggest container ship in the world 24,346 containers 200 feet wide 1,312 feet Ever Max Biggest container ship to sail in the Port of Baltimore 15,432 containers 167 feet 1,201 feet Eiffel Tower 410 feet 1,083 feet Dali 157 feet 9,971 containers 984 feet Container ship of the 1970s ~2,500 containers 66 feet 705 feet Football field Shapes are approximate. 160 feet 360 feet 1,454 ft. 1,312 ft. 1,201 ft. 1,083 ft. 984 ft. 24,346 containers 705 ft. 15,432 containers 9,971 containers ~2,500 containers 360 ft. 66 ft. 200 ft. 167 ft. 410 ft. 157 ft. 160 ft. Approximate width Empire State Building MSC Irina Biggest container ship in the world Ever Max Biggest container ship to sail into Baltimore Eiffel Tower Dali Container ship of the 1970s Football field Sources: “The Geography of Transport Systems,” by Jean-Paul Rodrigue; VesselFinder; the Empire State Building; the Eiffel Tower; ShipHub; Maryland Port Administration Note: Widths shown are for the widest point for each ship.

Persons: Dali, Jean, Paul Rodrigue, Francis Scott Key, Theo Notteboom, Athanasios Pallis, ”, Rodrigue, “ Organizations: ., Eiffel, Transport Systems, Empire, Francis Scott Key Bridge, Container, Port Economics, Management, Eastern Seaboard, Texas, M University, Galveston, Baltimore . Locations: Baltimore, Port, ShipHub, Maryland, Panama, Eastern U.S, Suez

☆ Winning images from 2023 Travel Photographer of the Year contest reveal world’s beauty and tragedy
▼ + stars: | 2024-01-22 | by ( Issy Ronald | ) edition.cnn.com time to read: +2 min

CNN —Mist rising from the Tuscan hills, a tiny fish staring at the ocean from inside the neck of a glass bottle, and a pangolin tucked contentedly under the chin of her carer are among the winning entries from the 2023 Travel Photographer of the Year competition. Shot all around the globe, the images illuminate both the beauty and tragedy that arise when humans interact with the natural world. Judges crowned Slovenian photographer AndreJa Ravnak the overall winner for her depictions of dream-like European landscapes, after considering more than 20,000 images submitted by photographers from more than 150 countries. Meanwhile, 14-year-old Caden Shepard Choi won the Young Travel Photographer of the Year award for her black-and-white series of photos depicting the Navajo people of Chinle, Arizona herding sheep, shearing them and then weaving with the wool. All the winning photos can be viewed online, or at an exhibition held at the NEC in Birmingham, UK from March 16-19 and at Xposure in Sharjah, UAE.

Persons: AndreJa Ravnak, “ I’ve, ”, “, Athanasios, Martin Broen, Armand Sarlangue, Shepard Choi, Lilly Zhang Organizations: CNN, Conservation, Young, NEC Locations: Siberia, Mexico, Chinle , Arizona, Pennsylvania, Birmingham, Xposure, Sharjah, UAE

☆ Falling stocks, climbing mortgage rates: how 5% Treasury yields could roil markets
▼ + stars: | 2023-10-20 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +5 min

Expectations that the Federal Reserve will keep interest rates elevated and mounting U.S. fiscal concerns are among the factors driving the move. Because the $25-trillion Treasury market is considered the bedrock of the global financial system, soaring yields on U.S. government bonds have had wide-ranging effects. "The longer we remain at higher interest rates, the more likely something is to break." Elon Musk warned that high interest rates could sap electric-vehicle demand, which knocked shares of the sector on Thursday. Reuters GraphicsThe U.S. dollar has advanced an average of about 6.4% against its G10 peers since the rise in Treasury yields accelerated in mid-July.

Persons: Brendan McDermid, Gennadiy Goldberg, Jerome Powell, Powell, Elon Musk, Tesla’s, gravitating, Athanasios Vamvakidis, Saqib Iqbal Ahmed, Ira Iosebashvili, Stephen Coates Organizations: New York Stock Exchange, REUTERS, Treasury, Federal Reserve, TD Securities, Reuters, Global Research, Reuters Graphics, ICE, Fed, Thomson Locations: New York City, U.S, New York, Treasuries

Yet increasingly, euro area specific factors, particularly exposure to higher oil prices, risk further weakness in an already stagnating economy, and the single currency. The euro is especially vulnerable to rising oil prices, with net imports accounting for over 90% of oil products available in the European Union. "High oil prices are weighing on the euro area's terms of trade, and if oil prices move above $100 per barrel to $110 per barrel we think it will be difficult for the euro to avoid parity," said Nomura's G10 FX strategist Jordan Rochester. But it also lifts price pressures through higher import costs, compounding the impact from higher oil prices. "Definitely the euro zone is not in a good place right now," said Moec, adding that he did not rule out a euro move to parity.

Persons: Dado Ruvic, Jordan, Nomura, Morgan Stanley, Jens Eisenschmidt, Francesco Pesole, Athanasios, Gilles Moec, Dhara Ranasinghe, Alun John, Yoruk, Christina Fincher Organizations: U.S, REUTERS, European Union, OPEC, Barclays, European Central Bank, ECB, ING, Germany, Bank of America, AXA Investment, Thomson Locations: Jordan Rochester, United States, ITALY, Italy, U.S, London, Amsterdam

☆ The US dollar is king again. Here’s why
▼ + stars: | 2023-09-08 | by ( Anna Cooban | ) edition.cnn.com time to read: +5 min

London CNN —The US dollar is enjoying its longest winning streak in nearly nine years. The rally comes after months of volatility, fueled by concerns that the dollar may be losing its status as the world’s reserve currency. “Rumors of the US dollar’s demise continue to be greatly exaggerated,” James Athey, investment director at Abrdn, an asset manager, told CNN. Higher interest rates tend to boost the value of a country’s currency by attracting more foreign capital, as investors anticipate making bigger returns. “The US economy continues to surprise to the upside,” Carsten Brzeski, global head of macroeconomic research at ING, told CNN.

Persons: ” James Athey, ” Athey, ” Carsten Brzeski, ” Brzeski, Russ Mould, AJ Bell, Athanasios Vamvakidis, Sheldon Cooper, “, ” Alex Cohen Organizations: London CNN, CNN, Federal Reserve, ING, US Federal Reserve, European Central Bank, Bank of America Global Research, People’s Bank of Locations: Saudi Arabia, United States, China, Europe, Germany, Russia, People’s Bank of China

☆ ECB interest rate hike isn't enough to cool inflation in a timely manner, professor says
▼ + stars: | 2023-07-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB interest rate hike isn't enough to cool inflation in a timely manner, professor saysAthanasios Orphanides, professor at the MIT Sloan School of Management and former governor at the Central Bank of Cyprus, discusses the European Central Bank's 25-basis-point interest rate hike.

Persons: Athanasios Orphanides Organizations: MIT Sloan School of Management, Central Bank of Cyprus, Central

☆ The Fed has paused before. Here’s what happened next
▼ + stars: | 2023-07-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +8 min

The Fed had a similar predicament in 2006After raising interest rates 17 consecutive times between June 2004 and June 2006, Fed officials became concerned that they could inadvertently damage the economy if they continued to hike rates. When the Fed met again in September, many officials expressed concerns that raising interest rates after a short, six-week pause would broadcast the wrong message. Lacker continued to be the sole Fed official who favored raising interest rates until his term expired at the end of the year. “It’s pretty easy to believe that the Fed will find that it didn’t raise rates enough and so choose to raise rates somewhat further before stopping and, later on, reducing rates,” he said. Fed officials then opted for a pause in the fall of 1994 and raised rates further in the winter.

Persons: Ben Bernanke, Bernanke, “, ” Michael Moskow, ”, Cathy Minehan, Jeffrey Lacker, Lacker, Jerome Powell, Liu Jie, Athanasios Orphanides, Austan Goolsbee, William English Organizations: New, New York CNN, Federal, Traders, Fed, Committee, Washington , D.C, Bloomberg, Getty, Chicago Fed, Boston Fed, Richmond Fed, Massachusetts Institute of Technology, European Central Bank, Food Forum, Yale University Locations: New York, Washington ,, Xinhua, Chicago

Data suggests recession risks remain high, but wages and U.S. and European interest rates are also still rising - so stick or twist? Here are five big calls investors are now making. Principal Global Investors chief global strategist Seema Shah said she maintained her view that government bonds would do well with recession still likely by year-end. Reuters Graphics4/ FRAGILE CHINASpluttering data, property market woes and meek economic stimulus have also busted new year bets of a Chinese mini-boom. Principal Global Investors' Shah said she still expected commodities to continue to struggle "because a combination of U.S. slowdown plus China slowdown should mean weak demand."

Persons: Bonds, Francesco Sandrini, Seema Shah, JP Morgan, Trevor Greetham, Florian Ielpo, Athanasios Vamvakidis, Morgan Stanley, Shah, Naomi Rovnick, Marc Jones, Alun John, Dhara Ranasinghe, Mark Potter Organizations: Treasury, Investors, Reuters, Global Investors, Royal London Asset Management, Lombard, Swiss, Bank of America, Fed, FX, JPMorgan, Thomson Locations: bitcoin, Europe's, British, tatters, Japan, CHINA

☆ Analysis: Greek bonds snapping at heels of southern Europe's best in class
▼ + stars: | 2023-06-23 | by ( Stefano Rebaudo | ) www.reuters.com time to read: +5 min

The country has received three international bailouts from the euro zone and the IMF worth 280 billion euros ($308 billion) since 2010. "The Greek (bond) market is not so liquid and tends to be more volatile, but we have a lot of good news. The Greek economy is still heavily exposed to volatile sectors like tourism or shipping, but it is less sensitive to manufacturing headwinds. The premium, or spread, of Greek government bond yields over those of Spain recently fell to its lowest since 2008 at around 27 basis points . Across southern Europe, only Portugal and Spain trade at a smaller premium to Germany - the euro zone benchmark - than Greece.

Persons: Athanasios, Kyriakos Mitsotakis, Goldman Sachs, Filippo Taddei, Piet Haines Christiansen, Giorgia Meloni, Mario Draghi's, Christoph Rieger, Stefano Rebaudo, Sara Rossi, Amanda Cooper, Hugh Lawson Organizations: Bank of America, Democracy, Analysts, European Recovery Fund, Danske Bank, Italy's, ECB, Italian Treasury, Reuters, Thomson Locations: Greece, Spain, Europe, Portugal, Germany, European, Italy, Italian

☆ Forward guidance could become trap for central banks-economist
▼ + stars: | 2023-05-31 | by ( Leika Kihara | ) www.reuters.com time to read: +2 min

But by incentivising central banks to commit to keep rates low for long, forward guidance becomes a constraint when they need to swiftly tighten policy to rein in inflation, he said. "Recent experience suggests forward guidance can become a trap," Orphanides said. "Compared to forward guidance, clearer communication of a central bank's reaction function would avoid the trap and improve policy outcomes," he added. BOJ Governor Kazuo Ueda, who was present at the conference, said the very nature of forward guidance meant central banks took the risk of falling behind the curve whenever they were using the tool. Central banks around the world followed in the footsteps of the BOJ in introducing unconventional monetary easing steps, including forward guidance, to combat the 2007-2008 global financial crisis.

Persons: Athanasios Orphanides, Orphanides, it's, Kazuo Ueda, Leika Kihara, Jacqueline Wong Organizations: Bank of Japan, Massachusetts Institute of Technology, U.S . Federal Reserve, European Central Bank, Thomson Locations: TOKYO, Central, United States, Europe

☆ How China planted an FBI mole who was discovered only after gutting the CIA's vast spy network
▼ + stars: | 2023-01-18 | by ( James Bamford | ) www.businessinsider.com time to read: +25 min

At the time, four years after the handover from Britain to China, much of Hong Kong remained a world of neon and noise. "Five years ago, everyone looked down on you if you spoke Mandarin," said a Beijing executive living in Hong Kong. As soon as the Hong Kong Arts Festival ended, the Hong Kong International Film Festival began. In February 2006, Alex Ma, China's mole in the FBI, sent David photos he received from his handlers of five suspected human sources. Born in Hong Kong like Alex, Lee grew up in Hawaii and became a naturalized U.S. citizen.

☆ Vote for me! Cyprus clerics scramble to get public vote
▼ + stars: | 2022-12-18 | by ( ) www.reuters.com time to read: +2 min

The Greek Orthodox Church of Cyprus is one of the few Orthodox Churches worldwide to recognise the independence of the fellow-Orthodox Church of Ukraine, in a move which triggered a rift within the Cypriot church in 2020. Chrysostomos had recognised the independence of the Ukrainian church away from Moscow's influence, butting heads with clerics considered pro-Russian. Today it has business interests as diverse as real estate to Cyprus's award-winning KEO beer. "In Cyprus the flock has the privilege of choosing who will be its shepherd," said theologian Theodoros Kyriakou. Reporting by Michele Kambas, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ FIFA, UEFA rules compatible with EU competition rules, EU court adviser says
▼ + stars: | 2022-12-15 | by ( Foo Yun Chee | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 15 (Reuters) - Soccer bodies UEFA and FIFA's rules giving them the right to block clubs from joining a breakaway league and penalise players who do so are compatible with EU antitrust laws, an adviser to Europe's top court said on Thursday. The case centres on the dispute between UEFA, FIFA and the European Super League last year but could also impact other sports, clubs and players tempted by lucrative deals offered by rebel bodies and seeking to cash in during relatively short careers. The Super League took its case to a Spanish court which subsequently sought guidance from the Luxembourg-based Court of Justice of the European Union (CJEU). "The FIFA-UEFA rules under which any new competition is subject to prior approval are compatible with EU competition law," Advocate General Athanasios Rantos at the EU Court of Justice (CJEU), Europe's highest, said. While the Super League is free to set up its own independent football competition outside the UEFA and FIFA ecosystem, it cannot at the same time continue to participate in FIFA and UEFA football competitions without their prior authorisation, he said.

☆ FIFA and UEFA did not breach EU laws in blocking European Super League, but proponents aren’t for giving up
▼ + stars: | 2022-12-15 | by ( Sammy Mngqosini | ) edition.cnn.com time to read: +4 min

CNN —The decisions taken by soccer bodies FIFA and UEFA to block the European Super League (ESL) are in line with European Union (EU) competition laws, according to an EU Opinion issued on Thursday. “The FIFA-UEFA rules under which any new competition is subject to prior approval are compatible with EU competition law,” Advocate General Athanasios Rantos at the EU Court of Justice (CJEU) said. The ESL was set up in 2021 by 12 European clubs with the intention to break away from European football governing body UEFA to create their very own competition. FIFA also welcomes the Advocate General’s recognition of FIFA’s exclusive rights to market international competitions organized by FIFA. Fans of Chelsea Football Club protest against the European Super League outside Stamford Bridge on April 20, 2021.

☆ Dollar to rebound, accumulate safe-haven strength in 2023: Reuters poll
▼ + stars: | 2022-12-07 | by ( Indradip Ghosh | ) www.reuters.com time to read: +4 min

BENGALURU, Dec 7 (Reuters) - The dollar will rebound against most currencies over the coming months, with the growing threat of recession in the U.S. and elsewhere keeping it firm in 2023 through safe-haven flows, according to market strategists polled by Reuters. Nearly two-thirds or 33 of 51 strategists who answered an additional question said the greater dollar risk over the coming month was that it would rebound rather than falling further. "We foresee volatility levels remaining high in the coming months and expect it is too early for USD bulls to fully capitulate." Most major central banks, including the Fed, are expected to end their tightening campaigns in early 2023. An overwhelming 80% majority, or 42 of 51 respondents, said there was not much scope for dollar upside based on monetary policy.

☆ Meta's privacy obligations may be added to German antitrust probe, court adviser says
▼ + stars: | 2022-09-20 | by ( Foo Yun Chee | ) www.reuters.com time to read: +3 min

At issue is whether the German antitrust agency overstepped its authority by using its antitrust power to address data protection concerns, which are the remit of national data protection authorities. A German court subsequently sought guidance from the CJEU. "A competition authority may, in exercising its powers, take account of the compatibility of a commercial practice with the General Data Protection Regulation," he said in a non-binding opinion. He said antitrust watchdogs however need to consult with the lead privacy enforcers as well, which in Meta's case is the Irish data protection agency as its European headquarters is based there. In May, it was designated by the German authority as of "paramount importance for competition across markets" subject to tougher rules.

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