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☆ Gold retreats as dampened Fed rate cut hopes dent appeal
▼ + stars: | 2024-04-29 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Gold prices slipped on Monday as hopes for early interest rate cuts this year dampened, while focus shifted to the Federal Reserve policy meeting and U.S. non-farm payrolls data due this week for further clarity on monetary policy. "Short term, gold is facing some challenges given the likely delayed timeline for rate cuts. The Federal Reserve's policy meeting from April 30-May 1 and the non-farm payrolls data due on Friday are key for markets this week. The Fed is seen holding its benchmark interest rate steady at 5.25%-to-5.5% at this meeting.

Persons: Tim Waterer, Jerome Powell, Waterer Organizations: Federal Reserve, KCM Trade, Investors, People's Bank of, Citi Locations: Mendrisio, Switzerland, People's Bank of China

☆ China picks its lowest-scoring officers to command nuclear submarines
▼ + stars: | 2024-04-16 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

The job of commanding a nuclear submarine should go to smart and well-qualified officers. Chinese submarine officers — except for engineers — tend to come from candidates with the lowest college entrance test scores, according to a US analyst. "Life in the PLAN submarine service is difficult," Christopher Sharman, director of the China Maritime Studies Institute, told Business Insider. By stressing Chinese submarine commanders, such as confronting them with multiple or unexpected challenges, they could be goaded into making a mistake. On the other hand, a Chinese submarine captain will have had years of experience and additional training before assuming command.

Persons: Roderick Lee, Lee, they've, George McClellan, —, George Patton, Christopher Sharman, Michael Peck Organizations: Service, Liberation Army Navy, PLAN, Business, Gaokao, PLA, People's, Army, PLAN Engineering University, China Maritime Studies, US Naval War, Submarine Academy, China Daily, Reuters, China's, Military Medical University, China Sea, China Maritime Studies Institute, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Japan, Taiwan, West, China, Russia, South China, Chinese, Forbes

☆ A market mystery: Why do capers come in such tiny jars?
▼ + stars: | 2024-03-23 | by ( Allison Morrow | ) edition.cnn.com time to read: +8 min

This is a story about one of modern life’s least consequential but most acutely annoying experiences: getting a sufficient number of capers out of those dollhouse-size jars they’re sold in. Capers are expensive, so producers sell them in smaller jars to make each unit more affordable. Why such narrow jars? Skinny jars just look nicer, Mezzetta says. As one Redditor said: “I’ve never been in a situation where I don’t decide to just use the entire tiny jar for what I’m making.”

Persons: they’re, God, capers, It’s, purveyors, Goya, Russell Zwanka, ” Zwanka, “, Rebecca Wright, Jeff Mezzetta, they’re tippy, ”, Mezzetta, Zwanka, chef’s, ” Duane Stanford, Bull, Brian Noone, Redditor, “ I’ve Organizations: New, New York CNN, Western Michigan University, CNN, Beverage, Redditors Locations: New York, New York City, California, Labrador, Morocco, Tunisia, Greece, Turkey, Adelaide, South Australia, Malta

☆ Olive oil prices are skyrocketing. Here's how my startup is managing to keep costs low.
▼ + stars: | 2024-02-25 | by ( Lakshmi Varanasi | ) www.businessinsider.com time to read: +3 min

This as-told-to essay is based on a conversation with Andrew Benin, the cofounder of olive oil startup Graza. Putting out a high-quality olive oil is difficult for a young brand, but it's even harder now as prices hit record highs. Before I launched Graza in early 2022, we purchased nearly 50,000 liters of olive oil from Italy for about $3.10 a kilo. If you know a bit about olive oil production, you'll know that extra virgin olive oil is extremely inefficient to produce — that's one of the reasons it's more expensive. Law enforcement agencies have seized tens of thousands of gallons of olive oil and arrested suspects worldwide for fraud in the past several months.

Persons: Andrew Benin, we've Organizations: Business, Walmart, Target Locations: Italy, Spain, Greece, Graza, We're

☆ Griselda Blanco's Son Michael Corleone Blanco Is Taking His Family Legacy Legit
▼ + stars: | 2024-02-21 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +13 min

There was a time when Michael Corleone Blanco didn't want to hear the name Billy Corben, let alone sit across from him. AdvertisementBut Michael Corleone Blanco, the famed drug kingpin's only surviving son, learned quickly that true-crime fame is a double-edged sword. It was probably between the release of "Cocaine Cowboys" and "Cocaine Cowboys 2." I knew that one day, the Griselda Blanco story and the Blanco family story would have to be told, and with them already telling some of the story, it was going to help me out. AdvertisementSofia Vergara as Griselda Blanco in "Griselda."

Persons: Michael Corleone Blanco didn't, Billy Corben, Griselda Blanco —, Sofia Vergara, Catherine Zeta, Jones, Michael Corleone Blanco, Corben, — Blanco, Blanco, Alfred Spellman, David Cypkin, Griselda, Michael didn't, Billy, Michael, Griselda Blanco, Alfred, Dave, Mr, La Madrina, Elizabeth Morris, Netflix Billy, Sofia Vergara's, Zilah Mendoza, Al Capone, There's, She's, Michael Corleone, Corleone, I've Organizations: Cocaine, Netflix, Business, Corben, Cocaine Cowboys, Colony Theatre, The, Instagram Locations: Miami, Hollywood, Colombia, Blanco, South

☆ Japan's 'Big Whale' submarines add another weapon to bottle up China's navy
▼ + stars: | 2024-02-10 | by ( Ben Brimelow | ) www.businessinsider.com time to read: +9 min

Named, JS Raigei (“Thunder Whale” in Japanese), the diesel-electric attack sub is the fourth boat of the Taigei-class , which translates to “big whale.”Its launch comes almost exactly one year after the launch of the third Taigei-class sub, JS Jingei (or “Swift Whale”). With a building time of about two years each, Japan has launched a new Taigei-class sub every year since 2020. China’s current sub fleet, numbering some 59 boats, includes approximately 10 improved Kilo-class , 12 Type 039-class , and 21 Type 039A-class diesel-electric attack subs. Japan is building a larger submarine fleet but it is still only about a third the size of China's. AdvertisementJapan has so far launched four Taigei-class submarines since 2018; JS Taigei, JS Hakugei, JS Jingei, and JS Raigei.

Persons: —, JS, Japan’s, ”, Li Organizations: Service, Kawasaki Heavy Industries, JS Raigei, Jingei, Self, Defense Force, AIP, JS Ōryū, JS Tōryū, JS Taigei, US Navy, Center for Strategic, International Studies, JS Hakugei, JS Jingei Locations: Japan, Kobe, Soviet Union, Russia, China, Beijing, Taiwan, East, South China, Miyako Strait, Philippines, Australia, South

☆ Griselda Blanco's only surviving son watched the Netflix series about her and thinks his family 'deserved a little more'
▼ + stars: | 2024-02-06 | by ( Jason Guerrasio | ) www.businessinsider.com time to read: +4 min

Griselda Blanco's surviving son has spoken out about the Netflix series for the first time. The six-episode podcast "The Real Griselda," hosted by "Cocaine Cowboys" director Billy Corben, premiered on Tuesday. He said that after watching the series he believes his family "deserved a little more." AdvertisementOn the heels of Netflix's "Griselda," based on the life of Miami's "godmother of cocaine" Griselda Blanco, her only surviving son is speaking out for the first time about his thoughts on the hit series. AdvertisementBefore "Griselda" premiered, Michael sued Netflix and Vergara in an attempt to stop the streamer from releasing the series.

Persons: Griselda Blanco's, Griselda, Billy Corben, —, Miami's, Griselda Blanco, Michael Corleone Blanco, Corben, I'm, Blanco, Sofia Vergara, Michael, Nobody, — Dixon, Osvaldo, Uber —, Vergara Organizations: Netflix, Cocaine Cowboys, Service, Business Locations: Miami, New York City, Medellín, Colombia

Now Jay’s case is the first of those killings to go to trial. Opening statements are set for Monday in the federal murder trial of Karl Jordan Jr. and Ronald Washington, who were arrested in 2020. Jay, born Jason Mizell, formed Run-DMC in the early 1980s with Darryl “DMC” McDaniels and Joseph Simmons, known as DJ Run and Rev. Political Cartoons View All 253 ImagesThey were the first rappers with gold and platinum albums and a Rolling Stone cover. He considered Jay to be family, since the DJ grew up across the street from Jordan's father, his defense wrote.

Persons: Jay, Karl Jordan Jr, Ronald Washington, “, ”, Seth DuCharme, gunning, Jason Mizell, Darryl “, ” McDaniels, Joseph Simmons, Aerosmith, ” Jay, people's, Tricky, Tupac Shakur, Prosecutors, Washington, Jordan, wasn't, Susan Kellman, Jay —, Judge LaShann DeArcy, Jordan's, Mark DeMarco, Jordan “ Organizations: Brooklyn U.S, Adidas, MTV, Roll Hall of Fame, Police, Prosecutors, DJ, Playboy, Authorities, New York Daily News Locations: Washington, Jordan, Hollis, Queens, York, Angeles, Shakur’s, Las Vegas, Los Angeles, indicting Washington, Maryland, Jordan's

☆ The Biden administration unveiled its hydrogen tax credit proposal, estimated to deliver $140 billion in revenue and 700,000 jobs by 2030
▼ + stars: | 2023-12-22 | by ( Associated Press | ) www.businessinsider.com time to read: +7 min

Officials estimate the hydrogen production credits can deliver $140 billion and 700,000 jobs by 2030. Administration officials estimate the hydrogen production credits will deliver $140 billion in revenue and 700,000 jobs by 2030 — and help the US produce 50 million metric tons of hydrogen by 2050. Firms that produce hydrogen using fossil fuels get less. The Fuel Cell & Hydrogen Energy Association includes more than 100 members involved in hydrogen production, distribution and use, including vehicle manufacturers, industrial gas companies, renewable developers and nuclear plant operators. Some of the money will flow to regional networks, or "hubs," of hydrogen producers, consumers and infrastructure that the Biden administration is also trying to kickstart with a $7 billion program.

Persons: —, Biden, Jesse Jenkins, David M, Turk, Joe Biden, Elizabeth Flores, Rachel Fakhry, Marty Durbin, Frank Wolak, Wolak, Chuck Schmitt, Jennifer M, Granholm Organizations: Biden, Service, Princeton University, Energy, Cummins, Generation, Star Tribune, Getty, Natural Resources Defense Council, US Chamber, Department of Energy, Fuel Cell, Hydrogen Energy Association, SSAB, AP Locations: Fridley , Minnesota, United States, SSAB Americas, American, Pennsylvania, California

☆ Australian sheep, cattle prices slump as El Nino scorches pastures
▼ + stars: | 2023-11-29 | by ( Peter Hobson | ) www.reuters.com time to read: +6 min

After three years of plentiful rain and rising livestock numbers, dry weather has withered pastures across Australia. The extreme change in conditions has helped trigger the fastest plunge in cattle and sheep prices in decades, threatening livelihoods in Australia's A$75 billion ($50 billion) red meat and livestock industry. While farmers suffer, falling livestock prices have brought some relief to Australian households hurting from high inflation. Falling U.S. beef production means demand for Australian beef should rise, helping support livestock prices, said Angus Gidley-Baird, an analyst at Rabobank in Sydney. Agricultural consultants Episode 3 estimate that Australian beef processors are reaping their best profits in at least two decades thanks to low local cattle prices and high sale prices in export markets.

Persons: Angus Hobson, Peter Hobson, Angus, Hobson, Stuart Austin, Wilmot, Angus Gidley, Baird, Teys, Mat Larkings, gaunt, haven't, they'll, Sonali Paul Organizations: Livestock, New, REUTERS, Beef, Livestock Australia, Woolworths, Data Monitor, Rabobank, Meat packers, Teys Australia, Farmers, Thomson Locations: Delegate, New South Wales, Australia, Angus Hobson's, Australia's, United States, El Nino, Japan, China, Sydney, Walcha

☆ Gold ticks higher as weaker US dollar, yields lend support
▼ + stars: | 2023-11-23 | by ( ) www.reuters.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsNov 23 (Reuters) - Gold prices edged higher on Thursday, hovering close to a key $2,000 per ounce level, as an overall weaker dollar and lower U.S. Treasury yields buoyed demand for bullion. FUNDAMENTALS* Spot gold was up 0.1% at $1,992.59 per ounce, as of 0143 GMT, after hitting a three-week high of $2,007.29 on Tuesday. * Lower interest rates decrease the opportunity cost of holding gold. DATA/EVENTS (GMT) 0745 France Business Climate Mfg, Overall Nov0815 France HCOB Mfg, Serv, Comp Flash PMIs Nov0830 Germany HCOB Mfg, Serv, Comp Flash PMIs Nov0900 EU HCOB Mfg, Serv, Comp Flash PMIs Nov0930 UK Flash Comp, Mfg, Serv PMIs NovReporting by Brijesh Patel in Bengaluru; Editing by Rashmi AichOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, CME's, Serv, Brijesh Patel, Rashmi Organizations: REUTERS, Treasury, . Federal Reserve, Trust, Climate Mfg, France HCOB, Germany HCOB, Mfg, Thomson Locations: Mendrisio, Switzerland, France, Germany, Bengaluru

HAVANA (AP) — Until recently, the space was the one-car garage of a private home in Cuba’s capital, Havana. Yet despite their modest setup, their prices are far from affordable, even for a doctor or a teacher, who make about 7,000 Cuban pesos a month (about $28 in the parallel market). Political Cartoons View All 1247 ImagesFor example, one kilo (2.2 pounds) of powdered milk from the Czech Republic costs 2,000 Cuban pesos (about $8). “I retired with 2,200 (Cuban pesos a month or $8.80) last year and I can’t even buy a package of chicken," she said. The novelty is that the small shops like the one in Vedado and bigger bodegas like the “Cuban Costco” are entirely private and accept payments in Cuban pesos.

Persons: ” Ania Espinosa, Espinosa, Ingracia Virgen Cruzata, “, Goya, ”, Pedro Freyre, Akerman, That’s, Freyre Organizations: —, Cuban Costco, Akerman Consulting, Miami Law School Locations: HAVANA, Cuba’s, Havana, El, Cuba, Cuban, Vedado, Czech Republic, U.S, Uruguay, Florida, America, Caribbean

☆ Argentina's presidential candidates face $12 bln energy subsidy conundrum
▼ + stars: | 2023-11-15 | by ( Eliana Raszewski | ) www.reuters.com time to read: +5 min

Milei has said he will cut all subsidies, but admitted it would have to be done slowly. He admitted hiking energy bills was tough medicine in a society already hurting, but argued it needed to be done. "If you increase energy prices today, there is an inflationary peak and it's over. Conservative leader Mauricio Macri (2015-19) cut energy subsidies back. "I don't think Milei will eliminate all subsidies," she said, adding she would likely vote for him for a "change".

Persons: Marcos Brindicci, Sergio Massa, Javier Milei, Milei, Massa, Emilio Apud, Daniel Dreizzen, Peronist Massa, Mauricio Macri, Vaca Muerta, Aleph's, Raquel Ramírez, Eliana Raszewski, Adam Jourdan, Marguerita Choy Organizations: REUTERS, International Monetary Fund, Aleph Energy, Reuters Graphics, Peronist, IMF, Conservative, Reuters, Massa, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, China, America

☆ New TV show '007: Road To A Million' brings Bond-like tasks to screens
▼ + stars: | 2023-11-02 | by ( Hanna Rantala | ) www.reuters.com time to read: +2 min

LONDON, Nov 2 (Reuters) - From scaling mountains and cranes to coming face-to-face with crocodiles and snakes, contestants travel the world tackling James Bond-inspired challenges in new TV adventure series "007: Road To A Million" in the hope of winning 1 million pounds ($1.2 million). "The idea is really to put ordinary people into a James Bond adventure and we didn't quite know how that would work out," executive producer David Glover told Reuters. "It's thrilling because... they're really not James Bond but they have heart and they're lovely and... they're heroic in their own way." [1/3]An assistant poses with the James Bond 007 Special Issue 2020 UK Seven-Kilo Gold Proof Coin, the largest coin ever made by The Royal Mint, in London, Britain, March 2, 2020. I thought 'well maybe if I do this, it's probably the nearest I'll ever get to (being a Bond villain),'" Cox said.

Persons: James Bond, Brian Cox, David Glover, they're, Cox, haven't, Henry Nicholls, it's, James, Joey Bone, James Bone, Bond, Barbara Broccoli, Michael G, Wilson, Daniel Craig, Broccoli, Hanna Rantala, Marie, Louise Gumuchian, Rosalba O'Brien Organizations: Reuters, The Royal Mint, REUTERS, Scottish Highlands, Thomson Locations: Scottish, London, Britain

REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsLONDON, Oct 31 (Reuters) - Global gold demand excluding over-the-counter (OTC) trading slipped 6% in the third quarter as central bank buying fell short of last year's record levels and consumption by jewellers declined, the World Gold Council (WGC) said on Tuesday. Gold demand shot to an 11-year high in 2022 due to the biggest central bank purchases on record. "With geopolitical tensions on the rise and an expectation for continued robust central bank buying, gold demand may surprise to the upside," said Louise Street, senior markets analyst at the WGC. Central bank demand totalled 337.1 tons, down from a record 458.8 tons a year before. QUARTERLY GOLD SUPPLY AND DEMAND (tonnes)** Source: World Gold Council, Gold Demand Trends Q3 2023Reporting by Polina Devitt; Editing by Jan HarveyOur Standards: The Thomson Reuters Trust Principles.

Persons: Denis Balibouse, Louise Street, Polina Devitt, Jan Harvey Organizations: REUTERS, Gold Council, Gold, Thomson Locations: Mendrisio, Switzerland, Central, Europe

☆ Meet the 'queen of caviar' who supplies Britain’s royal family with the world's most expensive food
▼ + stars: | 2023-10-26 | by ( Lucy Handley | ) www.cnbc.com time to read: +8 min

King's Fine FoodLaura King has run a caviar business for almost 20 years — even supplying Britain's royal family with the coveted foodstuff. Now, she's known as the "caviar queen," and her firm King's Fine Food imports hundreds of kilos of caviar into the U.K. every two to three weeks. Oscietra caviar is the most popular product sold by King's Fine Food. Laura King (left), founder of King's Fine Food, with her daughter Holly King, the company's sales director. "We're two women in business, probably the only two women in the caviar business almost in the world.

Persons: Laura King, King, John King, Holly —, —, Conran, Melba, Terence Conran, retails, …, You've, you'll, I've, King's, Holly King, Mason, Queen Elizabeth II, Holly, We've Organizations: King's, CNBC, Fine Food, Harrods, Cathay Pacific, Emirates . British Airways, Foods, John King Brain, Royal Locations: London, Dorchester, British, Iran, Russia, Belgium, China

☆ UFC 294: How to watch Islam Makhachev vs. Alexander Volkanovski 2
▼ + stars: | 2023-10-21 | by ( Ben Morse | ) edition.cnn.com time to read: +3 min

CNN —Alexander Volkanovski says he lost 26.5lbs in 11 days ahead of his highly-anticipated UFC lightweight title rematch against Islam Makhachev at UFC 294. The pair will face off in Abu Dhabi, United Arab Emirates, on Saturday, October 21; the second time they have done so after Makhachev beat Volkanovski at UFC 284 in February this year for the UFC lightweight championship belt. Volkanovski and Makhachev shake hands during a press conference ahead of their lightweight fight at UFC 294. In the other co-headline event of UFC 294, Kamaru Usman will take on Khamzat Chimaev in a special middleweight bout. ET, with the headline fight of Volkanovski vs. Makhachev expected to begin a few hours later.

Persons: CNN — Alexander Volkanovski, Islam Makhachev, Volkanovski, Charles Oliveira, ” Volkanovski, Makhachev, Chris Unger, I’ve, “ I’m, ”, it’s, Conor McGregor, Daniel Cormier, Amanda Nunes, Henry Cejudo, Kamaru Usman Organizations: CNN, UFC, United, TNT Sports, Makhachev, Etihad Arena, ESPN Locations: Abu Dhabi, United Arab Emirates, 154.5lb, 155lb

☆ An 87-year-old deal is keeping a lid on the naval war in Ukraine — for now
▼ + stars: | 2023-10-18 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +8 min

Fighting between Russia and Ukraine in the Black Sea has picked up in recent months. The fighting is taking a toll on Russia's Black Sea Fleet, which Moscow can't reinforce. Russia's Black Sea Fleet hasn't been defeated, but its losses, including the sinking of its flagship, the Moskva, weigh more heavily on Russia's war effort because of a deal signed nearly a century ago that is preventing Moscow from bringing more ships into the Black Sea. The convention distinguishes between Black Sea powers — those with a Black Sea coastline — and non-Black Sea powers. "Initially it was thought that it was a big deal that some of the Russian warships were prevented from entering the Black Sea.

Persons: —, Russia —, hasn't, Sergey Ponomarev, US Navy Arleigh Burke, OZAN KOSE, Ben Wallace, Stringer, Turkey's, Volodymyr Dubovyk, Dubovyk, Sabina Joja, Joja, Constantine Atlamazoglou Organizations: Montreux Convention, NATO, Service, Fleet, Sea Fleet, AP, US Navy, Getty, Russian, REUTERS, Mechnikov National University, Middle East Institute, Washington DC, Fletcher School of Law, LinkedIn, Twitter Locations: Russia, Ukraine, Moscow, Montreux, Crimea, Moskva, Sevastopol, Rostov, AFP, Turkey, Baltic, Northern, Odessa's, Ukrainian, Turkish, Romanian, Iulia, Washington, Izmail, Ankara, NATO

☆ Why Louis Vuitton and Tom Ford spend up to $15,000 for one kilo of Bulgarian rose oil
▼ + stars: | 2023-10-16 | by ( Enxhi Dylgjeri | Emily Christian | ) www.businessinsider.com time to read: 1 min

Bulgarian rose oil is the most valuable rose oil on the market. Buyers are willing to pay $15,000 for a single kilogram. But to make the highest-quality Bulgarian rose oil, producers must spend the year cultivating fields that will bloom for only a few weeks. The petals are distilled the same hour they're harvested, costing producers $8,000 a kilo for labor alone.

Organizations: Buyers

☆ Ukraine claims it hit a Russian ship with a 'Sea Baby' drone. Russia is fast running out of space to repair them.
▼ + stars: | 2023-10-13 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementUkraine doubled down on claims on Friday that it had damaged a Russian patrol ship near Sevastopol with "Sea Baby" drones. If confirmed, the strike could add to long-term pressure on Russia's ability to maintain and repair its Black Sea Fleet, experts say. Russia is already barred from bringing reinforcements to its Black Sea Fleet. AdvertisementAdvertisement"Consequently, the Black Sea Fleet will have to be increasingly prudent with its remaining assets," he added. AdvertisementAdvertisementThis squeeze on the Black Sea Fleet ultimately hampers some of its ability to project power over those waters, Germond said.

Persons: —, Basil Germond, Pavel Derzhavin, Pavel, Sutton, rove, ake Organizations: Service, Fleet, Lancaster University, Crimean Telegram, Crimean, Russian Telegram, Black, Russia's Ministry of Defense Locations: Ukraine, Russian, Sevastopol, Russia, Russia's, Ukrainian

☆ Gold pauses declines as investors hold breath for U.S. payrolls report
▼ + stars: | 2023-10-06 | by ( ) www.cnbc.com time to read: +2 min

One kilo gold bars are pictured at the plant of gold and silver refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. Spot gold rose 0.2% to $1,823.59 per ounce by 0335 GMT, but was on track to extend losses to a second consecutive week, shedding 1.3% so far. Markets await the release of U.S. non-farm payrolls data at 1230 GMT, following a string of jobs indicators released this week. SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, said its holdings hit the lowest levels since August 2019 on Thursday. Prices for platinum-group metals could remain depressed, CEO of the world's biggest platinum miner by value, Anglo American Platinum, told Reuters.

Persons: Ilya Spivak, Spivak Organizations: U.S ., Benchmark, Federal, Treasury, Trust, Reuters Locations: Mendrisio, Switzerland, U.S, American

☆ 'Difficult to accept': Prominent Russian hardliner admits its navy couldn't defend itself from Ukraine
▼ + stars: | 2023-10-06 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +2 min

Russia recently relocated much of its Black Sea Fleet after it got battered by Ukrainian attacks. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementA Russian hardline pro-war account conceded that the Black Sea Fleet couldn't defend itself from Ukraine and had to pull back. "Even though it's difficult to accept, the Black Sea Fleet cannot fully ensure its security now," Rybar wrote. In an intelligence briefing on Monday, the UK's Ministry of Defence said the threats of further Ukrainian attacks likely caused Russia to relocate its operations.

Persons: —, Rybar, Makarov, Admiral Essen Organizations: Service, Fleet, NATO, Telegram, UK's Ministry of Defence, Russia's Ministry of Defense Locations: Russia, Russian, Ukraine, Sevastopol, Crimea, Novorossiysk, Feodosia

☆ Satellite images show Russia moved parts of its navy out of Crimea after getting hammered by Ukrainian attacks
▼ + stars: | 2023-10-05 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Satellite imagery appears to confirm Russia has moved parts of its navy from Crimea. The move is intended to shield the Black Sea Fleet from Ukrainian drone attacks, per a US think tank. Courtesy of Planet Labs PBCAccording to MT Anderson, two Admiral Grigorovich-class frigates, along with a Krikav-class frigate, three Kilo-class submarines, and a number of smaller ships, were transferred. A Project 22160 patrol ship stationed in the Ukrainian port of Feodosia in eastern Crimea, seen in satellite imagery shared by Planet Labs PBC on October 4, 2023. In recent weeks, Ukraine has intensified its attacks on Russia's Black Sea Fleet, including attacking its command center in Sevastopol on September 22.

Persons: —, Anderson, Grigorovich, Vasily Bykov, MT, Thord, Iversen, Iverson Organizations: Service, Planet Labs PBC, Labs, MT Anderson, UK's Ministry of Defence, Norwegian Navy Locations: Russia, Crimea, Sevastopol, Novorossiysk, Russian, Feodosia, Ukrainian, Russia's, Feodosiya, Ukraine

☆ Crimea: Satellite imagery indicates Russia moving navy ships to other ports after Sevastopol attacks
▼ + stars: | 2023-10-05 | by ( Tim Lister Anna Chernova Gianluca Mezzofiore. Maria Kostenko Paul Murphy | Tim Lister | Anna Chernova | ) edition.cnn.com time to read: +4 min

As many as a dozen ships, including frigates, landing ships and submarines now appear to be moored further east at Novorossiysk, imagery from the past few weeks showed. the home port of the Black Sea Fleet. BlackSkyThe ISW noted that satellite imagery taken on October 2 shows four Russian landing ships and one Kilo-class submarine remaining in Sevastopol. Dmytro Pletenchuk, a spokesman for the Ukrainian Navy, said Thursday that the Black Sea Fleet was “constantly dispersing its ships. They are guarding this facility from the north and from the south.”Even so, Pletenchuk said, “I would not write off the Black Sea Fleet.

Persons: Makarov, Admiral Essen, Dmytro Pletenchuk, ” Pletenchuk, Pletenchuk, “, ”, Aslan Bzhania, ” Bzhania Organizations: CNN, Black, Technologies, Fleet, Ukrainian Navy, Border Guard Service, Sea Fleet, Russian Navy, Reuters Locations: Russia, Sevastopol, Crimea, Moscow, Georgia, Novorossiysk, Feodosia, Technologies Ukraine, Ukraine, Azov, Russian, BlackSky, ”, Abkhazia, Ochamchira

☆ Opinion | Senate Leaders Need to Break With Menendez Now
▼ + stars: | 2023-09-26 | by ( Michelle Goldberg | ) www.nytimes.com time to read: +3 min

Hopefully, Democratic leaders in the Senate will do the right thing, and this column will be obsolete by the time you read it. Every other Democratic senator — especially the Senate majority leader, Chuck Schumer — should join them. (Menendez knows this as well as anyone, having been charged with corruption once before but spared by a hung jury.) While he is entitled to another fair trial, he is not entitled to a seat in the United States Senate. Republicans, of course, understand that his presence in the Senate works to their advantage, which is why the right-wing senator Tom Cotton of Arkansas declared that Menendez should stay put.

Persons: Robert Menendez, —, Chuck Schumer —, Menendez, he’s, ”, ” —, Tom Cotton of Organizations: Democratic, Department of Justice, United States Senate, Senate Foreign Relations Committee, Monday, Democratic Party Locations: New Jersey, Egyptian, Cuba, New York, America, U.S, Tom Cotton of Arkansas

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