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Opinion: Russia can lose this war
  + stars: | 2024-05-08 | by ( Opinion Timothy Snyder | ) edition.cnn.com   time to read: +6 min
And far too many of us, during Russia’s war of aggression in Ukraine, have believed that. Of its three most consequential foreign wars, the Red Army lost two. And the Russian army of today is not the Red Army. It was disproportionately Ukrainians who fought their war to Berlin in the uniform of the Red Army. Russia can lose this war, and should, for the sake of Russians themselves.
Persons: Timothy Snyder, Richard C, Levin, , , Read, Leonid Brezhnev, Putin, Alexander Nemenov, Brezhnev, Vladimir Putin, Robert Nickelsberg Organizations: Global Affairs, Yale University, CNN, Russia, Getty, Red, Red Army, Soviet, Lease, Russian Empire, Russo, Fascism Locations: Nazi Germany, Russia, Ukraine, AFP, Poland, Afghanistan, USSR, Soviet Ukraine, Berlin, United States, Russian, Crimean, Japanese, Europe, Pacific, Kabul, Soviet Union, Crimea, Japan, Soviet, Ukrainian
JPMorgan said this regional bank is so appealing that it would have attracted attention from the late Charlie Munger. "When we think of the late, great Charlie Munger and his mantra to 'buy wonderful businesses at fair prices,' the bank that fits this bill in our view is Cullen Frost," the firm's bank analyst Steven Alexopoulos said in a note. However, JPMorgan said the bank's "strong organic growth story" remained fully intact. JPMorgan said investors are now able to buy the shares at 13.1 times forward earnings, compared to a 16X historical average. The bank maintained its overweight rating and has a 12-month price target of $140 per share, which would translate into 32% upside from Tuesday's close of $105.62.
Persons: Charlie Munger, Cullen Frost, Steven Alexopoulos, Munger, Buffett, Cullen, Frost, — CNBC's Michael Bloom Organizations: JPMorgan, Berkshire Hathaway's, CFR, Frost Bankers Locations: San Antonio , Texas
The owners of the house where Marilyn Monroe last lived and died are suing the city of Los Angeles over what they call “backroom machinations” as part of efforts to landmark the house and save it from a planned demolition. In a lawsuit filed in Superior Court in Los Angeles County on Monday, lawyers for Brinah Milstein and Roy Bank accused the city of violating its own codes and conspiring with third parties to secure its desired outcome during a hurried process to designate the house at 12305 Fifth Helena Drive a historical landmark last fall. This lawsuit highlights how the city engaged in a “corrupt process to guarantee their preferred outcome rather than engaging in a neutral and fair process,” Peter C. Sheridan, a lawyer for the couple, said in a statement. The city did not respond to a request for comment. Ms. Monroe was the world’s most famous woman when she moved in March 1962 to Fifth Helena Drive, a secluded residential street in the Brentwood neighborhood that is part of a set of 25 cul-de-sacs off Carmelina Avenue.
Persons: Marilyn Monroe, , Brinah Milstein, Peter C, Sheridan, Monroe Organizations: Roy Bank, Fifth Helena, Fifth Locations: Los Angeles, Superior Court, Los Angeles County, Brentwood
Opinion | Iran and Israel Weren’t Always Enemies
  + stars: | 2024-05-08 | by ( Karim Sadjadpour | ) www.nytimes.com   time to read: +1 min
“History is littered,” the British writer and politician Enoch Powell said, “with the wars which everybody knew would never happen.”A full-blown conflict between the Islamic Republic of Iran and Israel once seemed implausible. Iran and Israel are not natural adversaries. In contrast to other modern conflicts — between Israel and Palestine, Russia and Ukraine, China and Taiwan — Iran and Israel have no bilateral land or resource disputes. Their national strengths — Iran is an energy titan and Israel is a tech innovator — are more complementary than competitive. Iran was the second Muslim nation, after Turkey, to recognize Israel after its founding in 1948.
Persons: Enoch Powell, specter, King Cyrus the Great Locations: Islamic Republic of Iran, Israel, United States, Iran, Palestine, Russia, Ukraine, China, Taiwan, Turkey
Matt Calkins, CEO and co-founder of Appian, said that though internet giants like Microsoft , Amazon , and Google are spending billions on the tech, ensuring success in AI is "not just about money." "AI is not a place where money makes more money," Calkins told CNBC in an interview at its London bureau on Tuesday. Microsoft has struck a similar deal with Mistral, taking a 15 million euro ($16 million) stake in the French AI firm. Separately, Amazon has invested a whopping $4 billion into U.S. AI firm Anthropic, which is behind the Claude AI system. "The best AI will be the AI you put your data into, not whoever bought the biggest stack," he said.
Persons: Matt Calkins, Appian, Calkins, Sam Altman, Altman, Claude, you've, , Sundar Pichai Organizations: Microsoft, Google, CNBC, Mistral, Amazon, OpenAI, Anthropic, British Locations: London, OpenAI, Redmond, Washington, French, Anthropic, Europe
A small tweak in BlackRock's model portfolio turned a sleepy fund into one of the market's fastest growing active ETFs overnight. BlackRock added the U.S. Equity Factor Rotation ETF (DYNF) to its target allocation model portfolio in mid-March. The growth of DYNF sits at the center of two broader trends — rapid growth of model portfolios and the proliferation of active ETFs. Model portfolios are strategies offered by asset managers to investors and financial advisors. Meanwhile, model portfolios that want to add active management may not be able to add the best-performers in a category.
Persons: Michael Gates, DYNF, financials, Berkshire Hathaway, Morningstar, Elisabeth Kasner, Kasner, It's Organizations: U.S, Equity, BlackRock's, Stock Market, Microsoft, Nvidia, Berkshire Locations: BlackRock, DYNF
The Quwwat-ul-Islam mosque is part of the UNESCO-listed Qutb Minar complex. Scientists both in India and abroad began studying the iron pillar in Delhi in 1912 to try to figure out why it hadn’t corroded. Stuart Forster/ShutterstockBeyond its metallurgical intrigue, the origin of the Iron Pillar is also veiled in mystery. In the epic poem “Prithviraj Raso,” penned by Chand Bardai, a courtier in the Chahamana dynasty under King Prithviraj Chauhan, the Iron Pillar holds great significance. “Bardai describes the Iron Pillar in Raso as a nail holding the Earth on the hoof of Sheshnag, the serpent king in Hindu mythology,” says Vikramjit.
Persons: Qutb, Anders Blomqvist, Balasubramaniam, Stuart Forster, Gupta, Chandragupta II, Vikramaditya, Vishnu, It’s, Garuda, Vikramjit Singh Rooprai, King Vikramaditya, Siddhanta, , Raja Anangpal, Qutbuddin, Prithviraj Raso, Chand Bardai, King Prithviraj Chauhan, “ Bardai, “ Raso, Anangpal, Qutub, Ravi Pratap Singh, Pragya Nagar Organizations: CNN, New Delhi’s UNESCO, UNESCO, Indian Institute of Technology, National Metallurgical Laboratory, Indian Institute of Metals, Varāhamihira, ASI, Survey Locations: Mehrauli, Islam, India, Delhi, Kanpur, Varah, Udayagiri Caves, Vidisha, Madhya Pradesh, , Mihirapuri, Tomar, Raso
“China is neither the creator of the crisis, nor a party to it or a participant. The trip will also see Xi visit Serbia and Hungary, with the leader’s visit to Belgrade coinciding with the 25th anniversary of NATO’s bombing of the Chinese embassy in the city that killed three. Beijing has defended its trade with Russia as part of normal bilateral ties; it also says it does not provide weapons to parties in conflict. It has not been accused of sending lethal weapons to Russia, but rather goods with military use. Beijing supports efforts recognized by both Russia and Ukraine, with “equal and just discussions of all possible peace plans at the conference,” he said.
Persons: Xi Jinping, ” Xi, Emmanuel Macron, Ursula von der, , ramped, Macron, Xi “, he’s, , ” Macron, presser, Xi, Vladimir Putin, von der Leyen, Putin Organizations: Hong Kong CNN, French, European, NATO, Biden, Kyiv Locations: Hong Kong, Ukraine, China, Europe, Moscow, “ China, Paris, Washington, Beijing, Russian, Serbia, Hungary, Belgrade, Serbian, Balkans, Russia, France, , Israel, Switzerland
“This is a symptom of Japan’s population decline,” said Jeffrey Hall, a lecturer at Kanda University of International Studies in Chiba. “It’s not really a problem of building too many houses” but “a problem of not having enough people,” he said. According to figures compiled by the Ministry of Internal Affairs and Communications, 14% of all residential properties in Japan are vacant. “When an earthquake or a tsunami occurs, there is a possibility that vacant houses will block evacuation routes as they break down and get destroyed,” he said. In other rural areas with a high concentration of vacant houses, akiya have stalled development, the professor said.
Persons: , Jeffrey Hall, “ It’s, don’t, Akio Kon, it’s, “ They’re, Buddhika Weerasinghe, Yuki Akiyama, Akiyama, ” Akiyama Organizations: CNN, Kanda University of International Studies, Ministry of Internal Affairs and Communications, Kanda University, , Bloomberg, Getty, Ministry, Internal Affairs, Communications, Tokyo City University, Homes Locations: Japan, New York City, Tokyo, Kyoto, Chiba, Kanda, Yato, Yokosuka City, Kanagawa prefecture, Tambasasayama, Noto, Ishikawa, Europe, West,
A 12th-century French castle, Château d'Armainvilliers, is being auctioned for around $454 million. The castle was previously owned by King Hassan II of Morocco. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA 12th-century castle that once belonged to a Rothschild is being auctioned for a staggering €425 million, or around $454 million. It was once owned by Edmond de Rothschild, before being sold to King Hassan II of Morocco, a spokesperson for Meuwissen told Business Insider.
Persons: Château, King Hassan II, , Rothschild, Ignace Meuwissen, d'Armainvilliers, Edmond de Rothschild, Meuwissen Organizations: Service, Meuwissen, Business Locations: Morocco, Paris
CNN —The political rawness of the moment, as Israel pounds Gaza and outrage rocks American college campuses, means President Joe Biden’s big speech Tuesday condemning antisemitism is most notable for what he left unsaid. The speech was closely watched given the turmoil in the Middle East and its stunning political reaction in the US. “My commitment to the safety of the Jewish people, the security of Israel, and its right to exist as an independent Jewish state is ironclad. While praising the right to free speech as a fundamental American value, he condemned reported instances when some Jewish students have faced antisemitic taunting. Understanding history and preventing it from being manipulated for political gain was a major focus of Biden’s speech, which was delivered on the 79th anniversary of VE Day, when the allies defeated Nazism in World War II.
Persons: Joe Biden’s, movingly, you’re, ” Biden, Biden, Benjamin Netanyahu, , Joe ”, We’re, Biden’s, Donald Trump, Trump, Stormy Daniels, , ” Johnson, Netanyahu, , Mike Johnson, Organizations: CNN, Jewish, Hamas, Holocaust Memorial, Capitol, Arab, Israel, Gaza Health Ministry, Democratic, Trump, Republicans, Republican, Louisiana Republican, White, GOP, Nazism Locations: Israel, Gaza, Nazi, Rafah, Michigan, Manhattan, Nazi Germany, United States, Louisiana, Charlottesville , Virginia, Gestapo
“It was clear from the outset that The Spectator was really leading the coverage,” Summers told CNN by phone Monday. The photographs were captured by student journalists — including the cover image shot by freshman Stella Ragas — working in conjunction with New York photo director Jody Quon. Gathering reporting from campus for the issue, however, was not without its challenges for the student journalists. “There is significantly more trust of us than national outlets who parachute in and maybe don’t have the intimate knowledge,” Ramirez told CNN. In fact, when the encampments first propped up on campus, Ramirez told CNN that the student journalists were reluctant to retire for the night.
Persons: New York CNN —, Nick Summers, Isabella Ramirez, Summers, ” Summers, Ramirez, , Stella, Jody Quon, David Dee Delgado, , Quon, , ” Quon, ” Ramirez Organizations: New York CNN, New York, Columbia University, Columbia Daily Spectator, The Spectator, New, CNN, The, Hamilton Hall, Israel, Rye, Protesters, Reuters “ Locations: New York, Morningside, Rye Spaeth, Hamilton Hall
China stocks have staged such a strong rally after a protracted slump for the past few years that they're beating even the S & P 500 so far this year. The MSCI China index, which includes the mainland A-shares, Hong Kong-listed shares and U.S.-listed China names, has jumped around 9%, while the KraneShares CSI China Internet ETF is up around 13%. Most analysts said whether the rally can be sustained will largely depend on China policy. How to play China Though most were bullish on China stocks, they would be selective in stock-picking. They include: SPDR S & P China ETF iShares MSCI China A ETF Global X MSCI China Consumer Disc ETF iShares MSCI Hong Kong ETF — CNBC's Michael Bloom contributed to this report.
Persons: Bernstein, it's, , Goldman Sachs, Kevin Liu, CICC, Nomura's, Goldman, Kweichow, Ping, Morningstar, Michael Bloom Organizations: U.S, CSI China, Investors, CICC Research, CNBC, BYD, SAIC, Changan Automobile, Energy, Anhui, Cement, JPMorgan, Kuaishou, Ping An Insurance, China Merchants Bank, Hong, China, iShares, China Consumer Locations: China, Hong Kong
But some economists have argued that flawed historical economic data puts this claim in question. The further back you go — the NBER data goes to about 1850 — the more common recessions were. He said the NBER's pre-1914 recession data, in particular, is "very poor," and that only economic data collected after World War II is of good quality. "So the growing share of services also means you're going to have more stable economic growth." AdvertisementTo be sure, while a stable economy has its benefits, it's not the only indicator of a healthy economy.
Persons: , they'll, haven't, George Selgin, what's, NBER, Selgin, Joseph H, Davis, Satyam Panday, Panday, it's, they've Organizations: Service, National Bureau of Economic Research, Cato Institute, of Labor Statistics didn't, US, Vanguard, US Department of Agriculture, Satyam, Federal Reserve, Fed
The 2024 Met Gala is today in New York City. Its theme is "Sleeping Beauties: Reawakening Fashion," and the dress code is "The Garden of Time." This year's exhibit and ball highlights historical garments and technological advancements in style with a "Sleeping Beauties: Reawakening Fashion" theme. The night's dress code, "The Garden of Time," is inspired by a 1962 short story of the same name. Keep an eye on this page for the night's latest news, from surprising celebrity moments to standout fashion looks.
Persons: Jeff Bezos, Rihanna, , It's, fundraise Organizations: Service, fashion's, Metropolitan Museum of Art Locations: New York City, New York
The share of renters as of February who possess hopes of "residential mobility," or the belief from renters that they one day will be able to afford a home, fell to a record low 13.4% in the central bank's annual housing survey for 2024. Pessimism about future prospects comes amid a confluence of factors conspiring against the likelihood of renters being able to transition to home ownership. Moreover, mortgage rates have remained high by historical standards. Survey respondents expect housing prices to increase 5.1% over the next year, nearly double the 2.6% expected rate in February 2023 and above the pre-pandemic mean of 4.2%. Despite prospects for the Fed to cut interest rates before the end of 2024, respondents think mortgage rates are only going to go higher.
Persons: Freddie Mac, There's Organizations: New York Federal Reserve, New York Fed, National Association of Realtors, Fed, Federal, Market Locations: Manhattan, New York City, New
Amjad Abu Daqqa was among the top students at his school in Khan Younis, excelling in math and English, and he was applying for a scholarship to study in the United States when war erupted in the Gaza Strip last October. Teachers used to reward his good grades with trips to local historical sites or to the pier, where they would watch boats and take pictures of the sunset. He dreamed of going into medicine like his big sister, Nagham, who studied dentistry in Gaza City. But his old life and old dreams now feel far away. “I feel like I am a body without a soul, and I want to feel hopeful again.”
Persons: Amjad Abu Daqqa, Khan Younis, Nagham, , Amjad Locations: United States, Gaza, Gaza City, Rafah
HTRB saw a total return last year of 7.15%, and ranked in the 23rd percentile among its peers, according to Morningstar. The portfolio has 51% of its assets in mortgage-backed securities and 25% in investment-grade credit, according to the fund's website. Compared to many of its peers in the intermediate core plus bond Morningstar category, Hartford Total Return Bond ETF leans a bit more on securitized markets instead of investment-grade corporate debt, according to Morningstar. Finding opportunities Right now, one of the areas Goodman sees value in is agency mortgage-backed securities. Goodman also likes structured finance right now, like collateralized loan obligations, commercial mortgage-backed securities and nonagency residential mortgage-backed securities.
Persons: Campe Goodman, Morningstar, Goodman, HTRB, Morningstar . Goodman, Mike Mulach, Bonds, Fitch Organizations: Hartford, SEC, Wellington, Bloomberg U.S, Morningstar, BB, Poor's, Federal Reserve Locations: Wellington, Eastern Europe
—Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . Fairlead Strategies Disclaimer: This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein. This material is not to be reproduced or redistributed absent the written consent of Fairlead Strategies.
Persons: XLU, Katie Stockton Organizations: Utilities, Fairlead, CNBC Pro, Securities
6:41 a.m.: Morgan Stanley raises Carvana price target Morgan Stanley likes what it sees from Carvana after its "operational turnaround." The bank reiterated an underweight rating on the used car retailer but raised its price target to $75 per share from $45. "Throughout 2023, CVNA transitioned from a distressed equity into an operational turnaround with a restructured interest burden," Morgan Stanley analyst Adam Jonas said. The firm downgraded the HVAC stock to neutral from buy and lowered its price target to $68 per share from $74. MU YTD mountain MU year to date — Brian Evans 5:45 a.m.: Morgan Stanley upgrades U.S. Steel There's a big buying opportunity in U.S. Steel after a recent pullback this year, according to Morgan Stanley.
Persons: Morgan Stanley, Baird, Morgan Stanley's, CVNA, Adam Jonas, — Brian Evans, Wells, Mike Mayo, Mayo, Brian Evans, Johnson, Damian Karas, " Karas, Tristan Gerra, Gerra, Carlos De Alba, Alba, De Alba, Fred Imbert Organizations: CNBC, U.S, Steel, Micron Technology, Wells Fargo, Citi, UBS, Johnson, JCI, Micron, MU, Nippon Steel, U.S . Steel, . Steel Locations: Carvana, Wells Fargo, Friday's, U.S
The platform wants to capitalize on this trend by helping more video podcasts to break through. AdvertisementThe execs said they've seen an increase in viewers for YouTube podcasts, in part because more people are watching them on TV. If your YouTube channel only features podcast episodes, Chan recommends placing those videos into a playlist and marking the playlist as a podcast in YouTube Studio. Related storiesChan said, however, that these playlists should only contain full podcast episodes, not clips or unrelated content. Creators can link to a podcast episode from a short to direct viewers to the full-length episode.
Persons: , Stephanie Chan, Emma Sweet, Sweet, they've, Chan, we'll, Nick Viall, Emma McIntyre, Chain Organizations: Service, YouTube, Business
Inflation canceled that, and now it's almost certain that Wall Street's summer is canceled, too. That means Wall Street's fantasies of decamping to the Hamptons for the summer have shattered. You can see why this tug-of-war will keep Wall Street on its toes and off Georgica Beach. There is a certain set on Wall Street that does not get to "rosé all day" on Hamptons summer water when currencies trade that way. The simplicity that Wall Street hoped for is one of the few options that's no longer on the table.
Persons: , Justin Simon, decamping, Jerome Powell, opportunistically, Jamie Dimon, Torsten Slok, Slok, Powell, we'd, David Lefkowitz, dory, McDonald's, Silas Myers, Wall, Zuck, Simon, they're, it's Organizations: Federal Reserve, Jasper Capital, Nasdaq, Hamptons, JPMorgan, Fed, Pepsi, Mar Vista Investments, Wall, Nvidia, Tesla, Microsoft, Meta, Apple, EU Locations: Georgica, Japan
CNN —No one dares speak louder than a whisper as nearly 1,000 people respectfully take their seats inside the dimly lit Crucible Theatre. They’ve come to witness the nerve-shredding, silently electric atmosphere of the World Snooker Championship. The World Snooker Tour (WST) – organizers of the World Snooker Championship – say the sport is watched by half-a-billion people around the world. The Crucible Theatre has been the home of the World Snooker Championships since 1977. Saudi Arabia’s pursuit of snooker should not be surprising, but moving the World Snooker Championship would be an emotional decision for many of its fans.
Persons: they’re, They’ve, Shaun Murphy, It’s, , they’ve, George Wood, Mike Watterson, Hossein Vafaei, , it’s, ” Murphy, Young, Murphy, ” Ronnie O'Sullivan, Ronnie O’Sullivan, Ronnie O’Sullivan’s, O’Sullivan, , , Steve Dawson Organizations: CNN, Crucible, CNN Sport, Sheffield, Crucible Theatre, , Wembley, Snooker, Wimbledon, , Theatre Locations: Sheffield, England, Augusta, Saudi Arabia, , Saudi, China
It’s just another normal week in American politics as unpredictable forces rock both parties and augur a tense run to an election — now six months less one day away — that could fundamentally change the nation. Prosecutors argue he attempted a cover-up to mislead voters in 2016 in an early act of election interference. She also said that Trump felt it was better to deal with the story after the election than beforehand. Last week, in an interview with the Milwaukee Journal Sentinel, Trump refused to guarantee he’d accept the result of the next election. “We have to understand that this is a defining moment for this generation, similar to anti-Vietnam protests, anti-apartheid protests, anti-Iraq War protests,” he said.
Persons: Donald Trump, Joe Biden’s, Mike Johnson, Marjorie Taylor Greene, It’s, , Trump, Story Daniels, Hope Hicks, Hicks, Michael Cohen, Daniels, Emil Bove, Cohen, Trump’s, Biden, James Singer, “ Trump, ” Singer, Benjamin Netanyahu, Mitch Landrieu, Sen, Bernie Sanders, Lyndon Johnson, Landrieu, Democratic Sen, John Fetterman of, , Ro Khanna, , ” Johnson, Johnson, Greene, don’t, Kevin McCarthy Organizations: CNN, Trump, Republican, Georgia Rep, Prosecutors, White House, Nazi Secret Police, Milwaukee Journal Sentinel, Israel, Republicans, Union, Biden campaign’s, Independent, Democratic, CBS, Hamas, GOP Locations: Gestapo, New York, Gaza, Manhattan, Trump, “ State, Vietnam, John Fetterman of Pennsylvania, Michigan, California, Iraq, America, Ukraine, Louisiana
It is also evidence of a major reason why Russian troops have often fought poorly in the Ukraine war: they are not following their own playbook. Artem Priakhin/Getty ImagesAssessing current Russian doctrine is difficult. However, the problem may not have been Russian doctrine as much as the overall strategy of the Ukraine war. "There are plenty of aspects to their defense that are entirely consistent with their historical practice and doctrine," Boston said. If the Russian military was that bad, then maybe the Ukrainian military wasn't that good?
Persons: Scott Boston, Artem Priakhin, wouldn't, Ukraine's, Michael Peck Organizations: US, RAND Corp, Kyiv, Russian Army, Aerospace Forces, Warsaw, Kyiv —, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, Russia, Russian, Boston, St . Petersburg, Soviet, Western Europe, Iraq, Forbes
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