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☆ Biden’s trade chief walks back comments contradicting Biden on tariffs and inflation
▼ + stars: | 2024-05-16 | by ( Matt Egan | Kayla Tausche | ) edition.cnn.com time to read: +8 min

Research shows that former President Donald Trump’s tariffs on China did indeed raise prices on consumers and businesses — despite his claims otherwise. The study found tariffs imposed by former President Donald Trump did not meaningfully contribute to inflation. “The new Biden tariffs, like the more extensive ones that Trump has promised, will worsen US inflation. It is fair to debate how much the Biden tariffs will impact inflation because they are not nearly as widespread as what Trump imposed and what Trump is promising if he’s reelected. Trump enacted sweeping tariffs on $300 billion in Chinese imports, setting off a trade war between the world’s two biggest economies.

Persons: Katherine Tai, Joe Biden’s, ” Tai, —, Donald Trump’s, Tai, Angela Perez, Donald Trump, Goldman Sachs, Tai’s, “ Trump, ” Biden, “, Alex Durante, Tai’s “, Maury Obstfeld, Biden, ”, Trump, he’s, ” Perez, White, Morgan, Daleep Singh, Jen Psaki, Jared Polis, ” Polis, Ed Mills, Raymond James, David Kelly, ” Kelly Organizations: New, New York CNN, US, White, Research, CNN, US International Trade Commission, “, China, Tax, Obama, Peterson Institute for International Economics, Biden, Atlantic Council, Bretton, Committee, ”, Colorado Gov, Republicans, Asset Management Locations: New York, China, Ukraine, EVs, Europe

☆ ‘They have crossed a line’: Australian university orders pro-Palestinian protesters to vacate building
▼ + stars: | 2024-05-16 | by ( Hilary Whiteman | ) edition.cnn.com time to read: +6 min

Brisbane, Australia CNN —Pro-Palestinian protesters occupying a building at the University of Melbourne have been told to leave by university officials, who say they’ve “crossed a line” by entering the building and disrupting class for thousands of students. Martin Keep/AFP/Getty ImagesOn the video, protesters said they wouldn’t leave until the university responded to their demands, which include divesting from weapons companies and condemning Israel’s actions in Gaza. The University of Melbourne says student protesters "crossed a line" by occupying the building. Meanwhile, at least seven student protesters at Australian National University (ANU) in Canberra have received letters from the university telling them to leave the site by the end of Friday. In his video message distributed by the University of Melbourne, Wesley called on protesters to “peacefully end the occupation.”“Red lines have been crossed,” he said.

Persons: ”, Michael Wesley, “, Dana Alshaer, Mahmoud Alnaouq, Pip Nicholson, Martin, hadn’t, Alshaer, they’d, Jasmine Duff, for Palestine Victoria, Nick Reich, Wesley Organizations: Australia CNN — Pro, University of Melbourne, “, Arts West, ”, of Melbourne, Victoria Police, Hamas, Getty, Protesters, Deakin University, CNN, for Palestine, Australian National University, ANU, University Locations: Brisbane, Australia, Israel, UniMelb, Palestine, Gaza, Melbourne, Canberra, “

☆ Robert Fico: Slovakia’s prime minister out of ‘life-threatening situation’ following assassination attempt
▼ + stars: | 2024-05-16 | by ( Jessie Yeung | Ivana Kottasová | ) edition.cnn.com time to read: +3 min

CNN —Slovakia’s prime minister, Robert Fico, is out of danger after being shot five times and undergoing surgery, officials say, following an assassination attempt that rocked the central European country and sparked global condemnation. Footage from the scene showed the injured prime minister being bundled into a vehicle by his staff, before it speeds away with him inside. undefined — Slovakia's Prime Minister Robert Fico walks during the European Council summit at the EU headquarters in Brussels, on April 18, 2024. Unlike the president, whose role has limited scope, the prime minister holds rank as the decision-making head of government. Fico previously served as Slovakia’s prime minister for more than a decade, first between 2006 and 2010 and then again from 2012 to 2018.

Persons: CNN —, Robert Fico, Fico, Tomáš Taraba, “, Zuzana Čaputová, Kenzo Tribouillard, Šutaj Eštok, ” Fico Organizations: CNN, EU, Getty, Ukraine, Kyiv, NATO, Reuters Locations: Handlova, Banská Bystrica, Brussels, AFP, Slovakia

☆ Slovakia's prime minister no longer in life-threatening condition after assassination attempt
▼ + stars: | 2024-05-16 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Slovakia's Prime Minister Robert Fico walks during the European Council summit at the EU headquarters in Brussels, on April 18, 2024. Slovakia's populist Prime Minister Robert Fico is expected to survive a multiple-shot assassination attempt following surgery, according to the country's deputy prime minister. The Slovakian premier's condition has stabilized but remains serious, Reuters cited a hospital official as saying on Thursday. "The shooting of the prime minister is first and foremost an attack against an attack on a human being – but it's also an attack on democracy," she said in an officially translated video. Fico has served as prime minister of Slovakia for around 10 years across three mandates, heading the Smer (Direction) party.

Persons: Robert Fico, Tomas Taraba, Šutaj Eštok, Zuzana Caputova, it's, Fico Organizations: Slovakia's, EU, BBC, Reuters, CNBC, Slovakian Ministry of Interior, Ministry of Foreign Affairs, Slovakian, Sky News, Russia, RTVS Locations: Brussels, Slovakian, Slovak, Handlova, Banska Bystrica, Slovakia, Ukraine

☆ Live Updates: Attempted Killing of Slovakia’s Leader Shocks a Polarized Nation
▼ + stars: | 2024-05-16 | by ( Cassandra Vinograd | Andrew Higgins | ) www.nytimes.com time to read: +2 min

PinnedA day after Slovakia’s prime minister, Robert Fico, was critically wounded in what his government called a politically motivated assassination attempt, attention focused on Thursday on the security breaches that had allowed the attack to occur. Mr. Fico’s condition stabilized overnight, and doctors were carrying out more procedures in hopes of improving his condition, Deputy Prime Minister Robert Kalinak told a news conference on Thursday morning outside the hospital where Mr. Fico was being treated. Political tempers in the deeply polarized Central European nation rose after Mr. Fico’s shooting, and the interior minister, Matus Sutaj Estok, said an initial investigation “clearly points to a political motivation” behind the assassination attempt. Filip Kuffa, a state secretary, said early Thursday on Facebook that Mr. Fico was in stable condition. It said that cellphones had been taken from many staff members at the hospital to prevent them communicating information about Mr. Fico’s condition.

Persons: Robert Fico, Robert Kalinak, Fico, Matus Sutaj Estok, Mr, Filip Kuffa, ” Organizations: Facebook Locations: Bratislava, Handlova, Slovakia, Slovak

☆ Opinion: A Russian weapon could wipe out US space edge
▼ + stars: | 2024-05-15 | by ( Clayton Swope | ) edition.cnn.com time to read: +7 min

Here, the NanoRacks-Remove Debris satellite is deployed from the International Space Station in 2018. Before revelations about Russia’s development of a nuclear anti-satellite weapon, there had been indications of global recognition that the use of certain space weapons was bad for everyone. The proposed defense budget for 2025 does not reflect the scale and urgency of the need to counter space threats and protect space systems. Learning how to operate satellites in a space environment clogged with debris or increased radiation caused by a space weapon is also important. We need a two-pronged effort to prepare for the worst: Double down on efforts to protect and maintain access to space in a hostile space environment and consider how to operate without space.

Persons: Clayton Swope, Mike Turner, Estonia’s, —, Vassily Nebenzia, Frank Herbert’s Organizations: Aerospace Security, International Security, Center for Strategic, International Studies, CIA, CNN, Clayton, Clayton Swope Center, Strategic, United, US, Intelligence, Ohio Republican, International Space Station, NASA, GPS, Finnair, United Nations, UN, Twitter Locations: Washington , DC, Russian, United States, Russia, Ohio, Vietnam, Guadalcanal, Iwo Jima, Tartu, China, Moscow

☆ Donald Trump, Joe Biden and the 2024 Election: 12 Women Discuss - The New York Times
▼ + stars: | 2024-05-15 | by ( Patrick Healy | Kristen Soltis Anderson | Mr. Healy Is The Deputy Opinion Editor. Ms. Soltis Anderson Is A Pollster. | ) www.nytimes.com time to read: +2 min

When you think about Donald Trump, what’s the first word that comes to mind? When you think about Donald Trump, what’s the first word that comes to mind? But all of them said they wished someone other than Mr. Biden would be the Democratic presidential nominee this year. This focus group is a companion to that Biden group: We spoke with 12 women who voted for Mr. Trump in 2020 to discuss how they saw him now. But disdain for Mr. Trump’s personality was exceeded by frustration with Mr. Biden on policy and competence.

Persons: Donald Trump, Joe Biden, Biden, Trump, Trump’s, Mr, Robert F, Kennedy Jr, “ Organizations: Democratic, Biden, Mr, Trump Locations: Arizona

☆ Analysis: Cohen gets a breather after bruising cross-examination as Trump looks on
▼ + stars: | 2024-05-15 | by ( Stephen Collinson | ) edition.cnn.com time to read: +8 min

Blanche took Cohen through a long list of the insults he’s unleashed at Trump since becoming estranged from his former mentor, highlighting his penchant for serial lying. He drew jurors’ attention to a social media post in which Cohen wore a T-shirt that depicted Trump in jail, as he spun a narrative of bias and obsession. A key legal conundrum is whether prosecutors have so far succeeded in validating the legal theory behind the case. That foreboding realization was exacerbated by a new posse of Trump supporters at the courthouse on Tuesday, including House Speaker Mike Johnson. While Cohen’s reluctance to offer yes-and-no answers came across at times as flippant and confrontational, he did not appear to say or do anything to torpedo the prosecution case.

Persons: Donald Trump’s, Michael Cohen, don’t, Cohen, ”, Todd Blanche, president’s, didn’t, he’s, Trump, Stormy Daniels, Blanche, ” Cohen, he’d, ” Blanche, douchebag, ” Michael Moore, “, Moore, Juan Merchan, Will Trump’s, ” Shira Scheindlin, CNN’s Jake Tapper, ” Scheindlin, “ Cohen, Mike Johnson, ” Johnson, Andrew McCabe, Cohen’s, ” Moore, Daniels, Susan Hoffinger, reimbursements, ’ ” Cohen Organizations: CNN, GOP, Trump, Middle, Middle District of, Louisiana Republican, Defense, FBI Locations: Ohio, Kentucky, Middle District, Middle District of Georgia, New York, Louisiana, Blanche, Manhattan

A gunman shot Prime Minister Robert Fico of Slovakia, who is known for defying his fellow leaders in the European Union, multiple times at close range on Wednesday, in the most serious attack on a European leader in decades. Mr. Fico was shot after emerging from the House of Culture in Handlova, a town in central Slovakia, as he greeted a small crowd in Banikov Square. He was rushed to a nearby hospital, then airlifted to another hospital for emergency surgery. Hours later, the deputy prime minister, Tomas Taraba, told the BBC that Mr. Fico’s situation was no longer life-threatening, and he expected the prime minister to survive. The gunman, identified by Slovak news outlets as a 71-year-old poet, was immediately wrestled to the ground by security officers.

Persons: Robert Fico of, Fico, Tomas Taraba Organizations: European Union, Culture, BBC Locations: Robert Fico of Slovakia, Handlova, Slovakia, Slovak

☆ An AI agent may soon be at your beck and call, but it might cost you a bit of your privacy
▼ + stars: | 2024-05-15 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at Google's big event that's pitching all the ways AI agents can make our lives easier . Google I/O, the tech giant's biggest developer conference, was heavy on the rise of so-called AI agents , writes Business Insider's Hugh Langley, who was there in person. AdvertisementGoogle's faithful, old search engine got a noticeable facelift with the help of AI , writes BI's Geoff Weiss. Steven Puetzer/Getty, Tyler Le/BIThe stakes for Google are high, as nailing AI agents opens up a massive business opportunity. For AI agents to be so intuitive, they'll need access to seemingly every aspect of our lives.

Persons: —, Tyler Le, you've, OpenAI's ChatGPT, Hugh Langley, Sundar Pichai, Geoff Weiss, Hugh, Alistair Barr, Gregory Wayne, Steven Puetzer, hasn't, Alistair, Demis Hassabis, Minchillo, Keith Gill, Naz Vahid, Andy Sieg's, Noah Berger, Jia Feng, Tingting Ji, Jenny Chang, Rodriguez, BI's Peter Kafka, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Google, Astra, GameStop, AMC Entertainment, JPMorgan, Citi, Amazon Web Services, Walmart, UPS, Nielsen, Cisco Systems, Warner Bros, Discovery Locations: New York, Dublin, London

☆ Mortgage demand from homebuyers drops even as interest rates pull back to April lows
▼ + stars: | 2024-05-15 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +2 min

Mortgage rates last week dropped to the lowest level since April, but buyers are still struggling to afford today's housing market. As a result, mortgage demand flattened at a weak pace. "While the downward move in rates benefits prospective homebuyers, mortgage rates are still much higher than they were a year ago, while for-sale inventory remains tight," Kan added. Another read on inflation will influence the next move from the Federal Reserve on interest rates. "The difference between a result of 0.2 or 0.4 is surprisingly massive when it comes to the world of interest rates.

Persons: Joel Kan, Kan, Matthew Graham Organizations: Mortgage, Treasury, Federal Reserve, Mortgage News

☆ Singapore’s Lawrence Wong sworn in as new prime minister — the first leadership change in 20 years
▼ + stars: | 2024-05-15 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +3 min

Lawrence Wong was sworn in on May 15 as Singapore's new prime minister, after Lee Hsien Loong stepped down following two decades in office. Edgar Su | Afp | Getty ImagesSINGAPORE — Singapore's Lawrence Wong was inaugurated as the city-state's fourth prime minister on Wednesday, taking over from former prime minister Lee Hsien Loong, who has led Singapore for 20 years. Trade and industry minister Gan Kim Yong will be promoted to deputy prime minister and work alongside current DPM Heng Swee Keat. Lee, the eldest son of Singapore's founding Prime Minister Lee Kuan Yew, announced last month he will hand over power to the new prime minister in mid-May. Wong also served as principal private secretary to then prime minister Lee Hsien Loong from 2005 to 2008.

Persons: Lawrence Wong, Lee Hsien Loong, Edgar Su, Singapore's Lawrence Wong, Lee, Gan Kim Yong, Heng, Kim Yong, Swee Keat, Wong, Gan, Ong Ye Kung, helming, Singapore's, Lee Kuan Yew Organizations: Afp, Getty, SINGAPORE, Trade, Monetary Authority of, Party Locations: Singapore, Monetary Authority of Singapore, Gan

☆ Here's the inflation breakdown for April 2024 — in one chart
▼ + stars: | 2024-05-15 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

That increase is largely due to dynamics in the market for crude oil, which is refined into gasoline, economists said. Annual housing inflation declined to 5.5% in April from 5.7% in March. Shelter and gasoline inflation combined contributed more than 70% of the monthly CPI increase for all items, according to the BLS. Americans' buying patterns also simultaneously shifted away from services — such as entertainment and travel — toward physical goods since they stayed at home more, driving up demand and fueling decades-high goods inflation. Wage growth has been one contributor to services inflation, for example, economists said.

Persons: Grace Cary, That's, Mark Zandi, we're, Zandi, Michael Pugliese, Trump, Stephen Brown, Pugliese Organizations: U.S . Labor Department, Moody's Analytics, Federal Reserve, of Labor Statistics, Wells, Wells Fargo Economics, U.S, U.S . Energy Information Administration, Finance, GameStop, AMC, Biden, North, Capital Economics, Supply Locations: U.S, Wells Fargo, North America

☆ US-built floating pier begins moving from Ashdod port to Gaza, defense official says
▼ + stars: | 2024-05-15 | by ( Oren Liebermann | ) edition.cnn.com time to read: +3 min

CNN —The floating pier that will allow for humanitarian aid to flow into Gaza from the sea is moving from the port of Ashdod toward Gaza, according to a US defense official. Cyprus is the staging point for the humanitarian aid that will be shipped to Gaza through the maritime corridor and the pier. The US was closely watching whether what it called a “limited” Israeli incursion into Rafah in southern Gaza would affect the temporary pier. “I can just tell you it’s a third-party contractor, but that’s it,” deputy Pentagon press secretary Sabrina Singh said at a press briefing. Once the humanitarian aid arrives in Gaza, the UN World Food Program will distribute it to the Palestinian population.

Persons: Pat Ryder, Sabrina Singh, Ryder, ” Ryder Organizations: CNN, Pentagon, UN, Food Locations: Gaza, Ashdod, Cyprus, Rafah

☆ 5G and 6G are among 'the most strategic sectors' in the AI age, a national security advisor says
▼ + stars: | 2024-05-14 | by ( Rosalie Chan | ) www.businessinsider.com time to read: +4 min

The US is strengthening its 5G infrastructure, according to a National Security Council official. She said the US must improve its telecom infrastructure. This article is part of "5G and Connectivity Playbook," a series exploring some of our time's most important tech innovations. The US is bolstering its 5G infrastructure in the age of AI. Anne Neuberger, the deputy national security advisor for cyber and emerging tech, said that 5G and 6G were some of "the most strategic sectors," especially since telecom and data-center infrastructure houses the data required to train artificial-intelligence models.

Persons: —, Anne Neuberger, Niloofar Razi Howe, Neuberger, It's Organizations: National Security Council, Service, Conference, Capitol Meridian Partners, Huawei, Telecom, Biden, Wireless, Chain Innovation, White House, Strategy Locations: San Francisco, China, India, Japan, Europe, Ukraine, Russia

☆ Malaysian central bank says it won't use interest rates as a tool to 'somewhat defend the ringgit'
▼ + stars: | 2024-05-14 | 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 EmailMalaysian central bank says it won't use interest rates as a tool to 'somewhat defend the ringgit'Adnan Zaylani Mohamad Zahid, deputy governor of Bank Negara Malaysia, says its monetary policy will be determined by the growth and inflation outlook.

Persons: Adnan Zaylani Mohamad Zahid Organizations: Malaysian, Bank Negara Malaysia Locations: Bank

☆ US officials doubt Israel can actually eradicate Hamas and achieve a 'total victory'
▼ + stars: | 2024-05-14 | by ( Ella Sherman | ) www.businessinsider.com time to read: +4 min

Read previewUS government officials are skeptical Israel can actually achieve its goals and completely eliminate Hamas in Gaza. He argued that "we have to achieve victory and that means that we have to destroy all these battalions, which we will." The current US view of what victory looks like in this war appears different than that of Israel. "With the question of a strategic endgame, I don't think that's really a question about American influence," he said. "That's a question about Israel's strategy and what Israel chooses to do."

Persons: —, Kurt Campbell, Phil McGraw, Phil, Benjamin Netanyahu, Netanyahu, hasn't, Joe Biden, Biden, Khan Younis, State Anthony Blinken, CBS's Margaret Brennan, Blinken, Jake Sullivan, Israel Organizations: Service, CNN, NATO Youth, Business, Israeli, Republican, State, National Locations: Israel, Gaza, Rafah, I'm

☆ Genius or madness? Why Putin wants an economist to be Russia's new defense minister at a key point in the war
▼ + stars: | 2024-05-14 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +7 min

But Putin's replacement of Defense Minister Sergei Shoigu was unexpected — and his choice of successor, civilian economist Andrei Belousov, was even more of a surprise. Russia's incoming Defense Minister Andrey Belousov. "Belousov's main goal is to secure [Russia's] military needs in terms of arms. The Kremlin announced on Sunday that Shoigu, Russia's defense minister since 2012, had been relieved of his post and would become secretary of Russia's influential Security Council. Prigozhin died last August in a plane crash after a short-lived and ill-fated rebellion against Russia's military leadership.

Persons: Vladimir Putin, Miguel Diaz, Maxim Shemetov, Sergei Shoigu, Andrei Belousov, Belousov, Putin, Andrey Belousov, Shoigu, Belousov's, Dmitry Peskov, Peskov, Uralvagonzavod, Ramil Sitdikov, Staff Valery Gerasimov, Tatiana Stanovaya, Stanovaya, Nikolai Patrushev, Yevgeny Prigozhin, Ukraine —, Prigozhin, Valery Gerasimov, Mikhail Klimentyev Organizations: Cuban, Canel, Reuters, NATO, Institute for, Anadolu, Getty, Kremlin, Russian MoD, Defense Ministry, Sputnik, Afp, Staff, Carnegie Russia Eurasia Center, CNBC, Nazi, Security, Wagner Group, Russian Armed Forces, Russian Defence, Defence Ministry Board, National Defence Control Centre Locations: Moscow, Russia, Ukraine, Washington, Kharkiv, Russian, Urals, Nizhny Tagil, Nazi Germany, Kremlin

☆ Singapore’s Riches Grew Under Its Leader. So Did Discontent.
▼ + stars: | 2024-05-14 | by ( Sui-Lee Wee | ) www.nytimes.com time to read: +1 min

He made Singapore even more prosperous by largely following the semi-authoritarian and free-market model pioneered by his father, Lee Kuan Yew, the country’s first leader. On Wednesday, Singapore gets a new leader for the first time in nearly 20 years. But there are concerns that the vaunted “Singapore model” is failing more and more people. Singapore is one of the most expensive cities in the world, but it does not have a minimum wage. The strains are exacerbated by the need for overseas workers; about 40 percent of Singapore’s nearly six million people are not citizens.

Persons: Taylor Swift, Lee Hsien Loong, Lee Kuan Yew, Lee, Lawrence Wong Locations: Singapore, United States

☆ OpenAI may have finally cracked the code on voice interactions with AI
▼ + stars: | 2024-05-14 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, everyone's talking — literally — about the big update for OpenAI's ChatGPT that could make your job a lot easier . AdvertisementOpenAI may have finally cracked the code on voice interactions with AI, though. OpenAI says GPT-4o's average response to audio inputs is 320 milliseconds, which is on par with a typical human-to-human conversation. "They've essentially made text input almost be the barbaric form of communicating with ChatGPT (or any AI) now," the developer said. ChatGPT, Tyler Le/BIOpenAI's big reveal shows the shockwaves the startup keeps sending through the tech world.

Persons: —, Here's, ChatGPT Holger Scheibe, Tyler Le, OpenAI, Alex Bitter, They've, ChatGPT, Katie Notopoulos, Siri, it's, Apple that's, Andrew Burton, Justin Sullivan, Rebecca Zisser, Tim Cook's, Tesla, Mark Zuckerberg, he's, Nathan Congleton, Melinda, Gates, French Gates, she'd, Melinda Gates, Bill Gates, Doug McMillon, It's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Teen, Business, HAL, Hollywood, Apple, Apple's Worldwide, Conference, GPT, Google, Microsoft, Washington, Getty, Tesla, Melinda Gates Foundation, University of Arkansas, Depot, Sony, Disney, Cannes Locations: NBCU, New York, London

☆ The US dollar has become so weaponized that central banks are snapping up politically-neutral gold
▼ + stars: | 2024-05-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Central banks accounted for one-quarter of gold demand in 2022 and 2023, as the institutions bought over 1,000 tons of gold each year, according to the World Gold Council in a recent report. Related storiesThe world's central banks continued buying gold, snapping up 290 tons of gold in the first quarter of this year — the strongest start to any year on record, according to the council. AdvertisementThis suggests that gold purchases by some central banks may have been driven by concerns about sanctions risk, Gopinath said. Central banks will keep buying, despite high pricesWhile China's central bank gold buying has been hogging the headlines, other central banks are also loading up on gold. The World Gold Council wrote in its recent report that other big gold buyers included Turkey and India.

Persons: —, Gita Gopinath, it's, Gopinath, IMF's Gopinath Organizations: Service, Monetary Fund, Business, World Gold, US Treasury, Agency, JPMorgan Locations: Ukraine, Central, Russia, China, Turkey, India

☆ Malaysia won't use interest rates to prop up the ringgit, says central bank deputy chief
▼ + stars: | 2024-05-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Malaysia will not use monetary policy as a tool to shore up its currency, according to the central bank's deputy governor. Bank Negara's Adnan Zaylani Mohamad Zahid said the country's monetary policy decisions will be determined by economic growth and the inflation outlook. The ringgit currently does not reflect Malaysia's economic fundamentals and growth prospects, Bank Negara said in a statement last week. This has been fueled by expectations that the U.S. Federal Reserve could hold interest rates higher-for-longer as inflation remains sticky. Adnan Zaylani said the central bank expects the U.S. interest rate cycle to turn at "some point in time," which will then reflect on the "ringgit performance."

Persons: Bank Negara's Adnan Zaylani Mohamad Zahid, CNBC's, Adnan Zaylani Organizations: Bank, Bank Negara, Korean, U.S ., U.S . Federal Locations: Malaysia

☆ Putin's latest political move shows Russia's wartime economy is here to stay
▼ + stars: | 2024-05-13 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russian President Vladimir Putin is replacing his defense minister with a civilian economist. Andrei Belousov will lead Russia's military-industrial complex as Putin prepares for a protracted war. The move shows Russia's wartime economy has become a key pillar of growth. AdvertisementRussian President Vladimir Putin replaced his defense minister with a civilian economist on Sunday. The Russian leader proposed Andrei Belousov, a 65-year-old former deputy prime minister, as defense minister to replace his longtime ally Sergei Shoigu.

Persons: Vladimir Putin, Andrei Belousov, Putin, —, Putin —, Sergei Shoigu Organizations: Service, Business Locations: Ukraine

☆ The rebound market still has room to run, says Richard Bernstein's Dan Suzuki
▼ + stars: | 2024-05-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rebound market still has room to run, says Richard Bernstein's Dan SuzukiDan Suzuki, Richard Bernstein Advisors deputy CIO, joins CNBC's 'The Exchange' to discuss stocks' current rally, sectors with the most opportunity, and more.

Persons: Richard Bernstein's Dan Suzuki Dan Suzuki, Richard Bernstein

☆ Israel’s return to areas of Gaza it said were clear of Hamas raises doubts about its military strategy
▼ + stars: | 2024-05-13 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +6 min

CNN —The Israeli military has renewed its fighting in northern Gaza where it previously claimed to have dismantled Hamas’ command structure. The Israeli military also began operating in the area of Zeitoun in central Gaza, as it continues its offensive in eastern Rafah and near the Rafah crossing with Egypt. “Israel’s strategy is not a good one,” said Danny Orbach, a military historian at the Hebrew University of Jerusalem. Others say the re-emergence of Hamas “pockets” is not unusual, and that the Israeli military will have to keep re-entering areas in Gaza until no more fighters emerge. “This process will happen again and again,” Amir Aviv, former deputy commander of the Gaza Division of Israel’s military, told CNN, until all “pockets of resistance” are removed.

Persons: Israel’s, Biden, Antony Blinken, Blinken, Israel, Khan Younis, ” Blinken, Israel “, Dawoud Abo, ”, Danny Orbach, Netanyahu, Netanyahu “, ” Orbach, Phil, General Herzi Halevi, Tamir Hayman, Hayman, ” Amir Aviv, “ Organizations: CNN, CBS News, Israel, Dawoud Abo Alkas, Getty, Hebrew University of Jerusalem, Palestinian Authority, West Bank, Israel Defense Forces, Staff, Institute for National Security Studies Locations: Gaza, Palestinian, Zeitoun, Rafah, Egypt, Israel, United States, Rafah –, Washington, ”, Gaza City, Anadolu, East Jerusalem, Tel Aviv

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