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☆ China's latest supersonic spy drone looks a lot like the Lockheed D-21 that crashed there in 1971
▼ + stars: | 2024-04-20 | by ( Benjamin Brimelow | ) www.businessinsider.com time to read: +11 min

The aircraft, shaped like a dart and painted black, was a D-21 supersonic reconnaissance drone. Ultimately unsuccessful, the drone would be relegated to the annals of aviation history if not for the appearance of a strikingly similar Chinese drone unveiled at a recent military parade. AdvertisementThis is what we know about the high-flying Chinese spy drone and the D-21 upon which it could be based. High altitude, high speedLockheed's solution was to create an unmanned high-altitude high-speed reconnaissance aircraft with similar capabilities as the A-12, but much smaller. A WZ-8 reconnaissance drone is on display at the 13th China International Aviation and Aerospace Exhibition on September 28, 2021 in Zhuhai, China.

Persons: —, Francis Gary Powers, Dwight Eisenhower, Marquardt, Bill, Ray Torrick, Chen Xiao, Benjamin Brimelow Organizations: Service, Air Force, 4200th Support Squadron, Andersen Air Force Base, Business, Lockheed Corporation, Soviet, White House, CIA, Central Intelligence Agency, Lockheed's, Works, Redesignated, Navy, US Air Force, Chinese Aviation Museum, Davis, Monthan Air Force Base, 13th China International Aviation, Aerospace, US National Geospatial - Intelligence Agency, 29th Air Regiment, People's Liberation Army Air Force's 10th Bomber, Global Affairs, Fletcher School of Law, Diplomacy, Modern, Institute Locations: Guam, China, Soviet Union, Soviet, Yunnan, Beijing, Tucson , Arizona, United States, Zhuhai, People's Republic of China, Liuan, Korean, Taiwan, Pacific, West

☆ Fed's Susan Collins says more rate hikes can't be taken off the table yet
▼ + stars: | 2023-11-17 | by ( Jeff Cox | ) www.cnbc.com time to read: +2 min

Despite recent encouraging signs on inflation, Boston Federal Reserve President Susan Collins said Friday that more interest rate hikes could yet be needed. But I don't see additional firming off the table," the central bank official told CNBC's Steve Liesman during a "Squawk on the Street" interview. "I think the key point is we need to really stay the course." The central bank's benchmark borrowing rate is targeted in a range between 5.25%-5.5%, the highest in 22 years. Collins will not be a voting member on the rate-setting Federal Open Market Committee until 2025.

Persons: Susan Collins, CNBC's Steve Liesman, Collins Organizations: Boston Federal, Market Committee

☆ 'Timid' Pakistan search for ways to revive World Cup campaign
▼ + stars: | 2023-10-15 | by ( Amlan Chakraborty | ) www.reuters.com time to read: +3 min

India then returned to lay bare Pakistan's bowling frailties and romped home with nearly 20 overs to spare in the lop-sided blockbuster. "I just think we were a little bit timid tonight with our overall performance," Arthur told reporters after the match. "Credit to India, I thought they bowled really well, but I just thought our performance was just a little bit timid." "I did think we could probably have taken on the Indian spinners just a little bit more...But again, they were building and building nicely. "I think we've got to realise that there are two ways to always skin a cat.

Persons: Narendra Modi, Shreyas Iyer, Adnan Abidi, Mickey Arthur, Arthur, Skipper Babar Azam, Mohammad Rizwan, we've, Shaheen Afridi, Amlan Chakraborty, Muralikumar Organizations: Cricket, ICC Cricket, Rights, Pakistan, Team, India, Pace, Thomson Locations: India, Pakistan, Ahmedabad, Rights AHMEDABAD, Australia

The collective impact of higher rates across the economy could also weaken the government's own finances. With borrowing rates high and inflation still relatively elevated, consumers, who drive about 70% of economic growth, are expected to spend more cautiously. “Those tighter, higher rates will have an impact on the economy.”Financial analysts point to several reasons for the rapid increase in lending rates. Overseas buyers have reduced their purchases, thereby forcing rates higher to attract buyers. “All of that is driving these fears of higher rates, and no one knows when it’s going to stop,” said Gennadiy Goldberg, head of US rates strategy at TD Securities.

Persons: Kevin McCarthy, Goldman Sachs, Goldman, Freddie Mac, Loretta Mester, ” Mester, it’s, ”, Gennadiy Goldberg, Benson Durham, Piper Sandler, Durham, Jerome Powell, ‘, we’re, ’ ”, Nancy Vanden Houten, David Page Organizations: WASHINGTON, United Auto Workers, Representatives, Republican, Treasury, Federal Reserve Bank of Cleveland, ”, Fed, Treasury Department, TD Securities, Oxford Economics, AXA Locations: U.S, ’ ” Durham, London

“Russia’s thinly veiled threats to use nuclear weapons remind the world that escalation of the conflict – by accident, intention, or miscalculation – is a terrible risk. New Construction at Russia's Novaya Zemlya nuclear test site, June 22, 2023. Lop Nur nuclear test site. “The Chinese test site is different than the Russian test site,” Lewis said. Both countries keep their strategic nuclear arsenals on “hair-trigger” alert, meaning that nuclear weapons can be launched on short notice.

Persons: Jeffrey Lewis, James Martin, ”, Cedric Leighton, “, Vladimir Putin, ” Lewis, Lewis ’, António Guterres, ” Guterres, Dmitry Medvedev, Putin, Alexander Lukashenko, Sergei Shoigu, Lewis, we’ve, Leighton, they’d, ” Leighton, Nur, Hans Kristensen, Kristensen, Israel –, Dyess, Frederic J . Brown, Fiona Cunningham, Yang Kun, ” Daryl Kimball, Kimball, Michael Frankel, James Scouras, George Ullrich, Soviet Union –, Russia –, We’re Organizations: CNN, James, James Martin Center, Nonproliferation Studies, Middlebury Institute of International Studies, US, US Air Force, Atomic Scientists, Soviet Union, United Nations, Russia’s Security, Russian Defense Ministry, Planet Labs PBC, Middlebury, Science and Global Security, Novaya, Middlebury Institute, China Observer, China’s Foreign Ministry, Planet Labs, Nevada National Security, National Security Administration, US Department of Energy, Office, National Security Council, International Monitoring, Federation of American Scientists, Stockholm International Peace Research Institute, Missile Defense, Center for Strategic, International Studies, Columbia, Northrop Grumman's Air Force, Getty, Control Association, ACA, NGO, PLA, Nuclear, Carnegie Endowment, International, Arms Control Association, Johns Hopkins Applied Physics Laboratory, Soviet Locations: Russia, United States, China, Xinjiang, Nevada, . China, Moscow, Washington, Ukraine, Soviet, Belarus, Minsk, Novaya Zemlya, Zemlya, Soviet Union, Lop Nur, Japan, Lop, Beijing, Stockholm, United Kingdom, France, India, Pakistan, North Korea, Israel, Ellsworth, Palmdale , California, AFP, Yuli County, Mongol Autonomous Prefecture, Xinjiang Uygur Autonomous Region, Baltimore, Russian, Hiroshima

☆ Pressure on US squad, coach as World Cup title defence begins
▼ + stars: | 2023-07-21 | by ( Amy Tennery | ) www.reuters.com time to read: +2 min

No country has ever won three straight World Cups but U.S. fans will accept nothing less from the world's top-ranked side. Andonovski is banking on a new generation of talent in Australia and New Zealand, as he welcomed 14 World Cup first-timers to the 23-player squad. Andonovski has previously said the days of such lop-sided triumphs are long gone and that his squad were prepared to face "the best Vietnam team that has ever been on the field". "We're certainly going to come out with a team that will give us the best chance to win every game." The United States will face the Netherlands in their second Group E match next week in Wellington.

Persons: Megan Rapinoe, Vlatko Andonovski, Paul Childs, Vlatko Andonovski's, Jill Ellis, Andonovski, they've, We're, Amy Tennery, Peter Rutherford Organizations: Soccer Football, United States Press Conference, Wembley, United, Vietnam, Tokyo Games, Norway, Thomson Locations: London, Britain, AUCKLAND, United States, U.S, Netherlands, Australia, New Zealand, Auckland, Saturday, Vietnam, Thailand, Wellington

☆ The Fed's obsession with 2% inflation could cost Americans their jobs
▼ + stars: | 2023-07-14 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

Some economists think the central bank could wreck the job market if it sticks to that target. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Some economists fear that to lop a final percentage point off the inflation rate, the Fed will end up wrecking the jobs market. In 2023, that's not yet happened – with jobs numbers rising over the past six months and unemployment holding steady at under 4%, even though inflation has rapidly cooled. If Americans start losing their jobs, expect a lot more questioning of the hallowed 2% target.

Persons: Ben Bernanke's, it's, that's, BlackRock, Rick Rieder, Bloomberg's Organizations: Federal Reserve, Service, Fed Locations: Wall, Silicon

☆ The Supreme Court outlawed race-based admissions for colleges. Factoring in donors and legacy applications is still fine.
▼ + stars: | 2023-06-29 | by ( Chris Panella | Madison Hall | ) www.businessinsider.com time to read: +4 min

Their opinion said that colleges consider legacy status, athlete, financial aid eligibility, and race. Recruited athletes, legacy students, children of faculty and staff, children of honors, and other special recommendations remain lawful. Following the Supreme Court's decision, several lawmakers and former leaders voiced their displeasure with the ruling and how it maintained legacy admissions. "If SCOTUS was serious about their ludicrous "colorblindness" claims," Rep. Alexandria Ocasio-Cortez tweeted, "they would have abolished legacy admissions, aka affirmative action for the privileged." They introduced a bill this legislative session that bans the practice of legacy admissions in New York colleges and universities, declaring them "discriminatory and inequitable."

Persons: SCOTUS, —, John Roberts —, Rep, Alexandria Ocasio, Cortez, Andy Kim Organizations: Service, Harvard University, University of North, Harvard, UNC, of Economic Research Locations: University of North Carolina, Alexandria, New York

[1/4] Spanish Labour Minister Yolanda Diaz reacts during a campaign rally for her new left-wing umbrella party Sumar in the southern district of Orcasitas, Madrid, Spain, June 24, 2023. POPE'S BLESSINGOnce a Communist, Diaz now shies away from labelling herself as such or appealing solely to left-wing voters, although she rarely misses an opportunity to criticise capitalism. "We need better wages, especially in a country where the causes of inflation are tremendous corporate margins," she said. Two days later, Diaz registered Sumar, which first surfaced as a loose movement to unite the left in 2022, as a potential kingmaker bloc to run in the election. Reporting by Belén Carreño and Elena Rodríguez in Madrid; editing by Andrei Khalip and Mark HeinrichOur Standards: The Thomson Reuters Trust Principles.

Persons: Yolanda Diaz, Isabel Infantes, Pedro Sanchez, Diaz, Sanchez, Vox, Sanchez's, Shostakovich, Billie Eilish, Pope Francis, Pope, Podemos, Belén Carreño, Elena Rodríguez, Andrei Khalip, Mark Heinrich Our Organizations: Spanish Labour, REUTERS, Socialists, Reuters, Socialist, People's Party, Spanish Socialist Workers ' Party, PSOE, Communist, Spanish Catholic Church, Thomson Locations: Orcasitas, Madrid, Spain, MADRID, Sanchez's, Ukraine

☆ I would totally buy this $50,000 electric pickup truck that's the size of a Mini Cooper
▼ + stars: | 2023-06-21 | by ( Tim Levin | ) www.businessinsider.com time to read: +4 min

EV startup Telo's first electric truck. EV startup Telo's first electric truck. EV startup Telo's first electric truck. EV startup Telo's first electric truck. EV startup Telo's first electric truck.

Persons: Telo, Cooper, Ford Organizations: Morning, Toyota, Ford Maverick, Hyundai, Hyundai Santa Cruz, Ford, EV, EPA Locations: Tesla's, American, Toyota Tacoma, Hyundai Santa

☆ Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million
▼ + stars: | 2023-05-11 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +19 min

The 73 EEOC claims brought by individual former employees against the company sparked the larger pattern or practice investigation into age discrimination. Only a fraction of EEOC age discrimination complaints — 2.8% in fiscal 2021 — resulted in reasonable cause determinations, EEOC data show. It went from running six bowling alleys to 272 overnight after it acquired AMF, which was then the largest bowling company in the world and was in bankruptcy. The following year, Shannon's company acquired the Brunswick Corporation, the second-largest bowling company in the world, and changed his company's name to Bowlero. Dowe said negotiations fell apart when Bowlero countered the EEOC's $60 million settlement proposal with a proposal of $500,000.

☆ China lands its secretive space plane after 9 months in orbit
▼ + stars: | 2023-05-08 | by ( Natalie Musumeci | Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +3 min

China landed its mysterious reusable space plane after nine months in Earth's orbit. The space plane launched from the Jiuquan Satellite Launch Center in August 2022. The nine-month mission was the longest yet for the new space plane. In the absence of photos or details from China, multiple news outlets have suggested that the Chinese space plane may resemble the X-37B space plane developed by Boeing for the US military. Adam Shanks/US Space ForceThe Chinese space plane took off from the Jiuquan Satellite Launch Center in August 2022 and in October mysteriously ejected something into orbit, according to Space.com.

☆ Slowing growth will crash European stock party
▼ + stars: | 2023-05-02 | by ( Francesco Guerrera | ) www.reuters.com time to read: +6 min

LONDON, May 2 (Reuters Breakingviews) - European shares have been on the rise for seven months, outshining their U.S. counterparts, and are now just 6% below their record high. Luck played a part in the recent European surge. Natural gas prices have fallen more than 80% since their August peak, boosting economic growth and reducing companies’ costs. Analysts currently expect a 0.4% fall in European companies’ earnings per share (EPS) in 2023, according to Barclays. European investors have had an unusually enjoyable, and profitable, ride.

☆ Analysis: Bank failures and looming debt default test American confidence in the economy
▼ + stars: | 2023-05-01 | by ( Zachary B. Wolf | ) edition.cnn.com time to read: +7 min

CNN —Two converging crises are testing American confidence in their financial well-being. And there’s a debt crisis, which is becoming more urgent as the US approaches the “X-date” – when it would default – and on which opposing lawmakers aren’t currently talking to each other. First Republic Bank was taken over by the Federal Deposit Insurance Corporation on Monday, and most of its assets were sold to JPMorgan Chase. Maintaining confidenceNone of that means this is a golden chapter for the American financial system. Now, the debt crisis and the X-dateIf only American lawmakers could take a cue from the First Republic saga and get into a room to solve the debt crisis.

But overall bank credit has been stalled at about $17.5 trillion since January. The response - less lending, tighter credit standards and higher interest on loans - was already taking shape. Hard data on bank lending and credit will come into play, augmenting topline statistics like unemployment and inflation that the Fed is focused on. Reuters GraphicsSENTIMENT WEAKENINGThe survey of large and small banks asks high-level questions - Are lending standards tighter or looser? A Dallas Fed bank conditions survey, conducted in late March after the two bank failures, indicated lending standards in that Fed regional bank's district have kept tightening, with loan demand falling.

☆ Column: Europe's industry to feel the sting of high & rising carbon costs
▼ + stars: | 2023-02-23 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +6 min

EU carbon credit pricesTwo-thirds of Europe's emissions stem from just three sectors: energy supply (24.2%), domestic transport (20.7%) and industry (20.7%), according to European Environment Agency (EEA) data from 2020, the latest available. Industry accounts for 25% of Germany's total energy consumption, according to the International Energy Agency (IEA), so any successful retooling of Germany's energy systems will likely set trends across Europe. That would mark a 42% drop in only 8 years, and compares to an 18.7% reduction in total emissions from 2010 to 2022. However, given the expected shuttering of Germany's remaining coal plants and least efficient gas-fed power stations, the energy sector's target may be reachable. Germany industry energy use by power sourceCertain sectors are banking on the roll-out of clean hydrogen for use as a fuel instead of natural gas.

☆ Where to Get Your Taxes Done for Free
▼ + stars: | 2023-01-25 | by ( ) www.wsj.com time to read: +8 min

Some don’t offer free filing if you have to record retirement income or self-employment income, for example, and other specific deductions and credits are sometimes excluded from free tax filing. What’s included:Wage and salary incomeLimited interest and dividend incomeEITCChild creditStudent loan interest deductionState returnFree File through the IRSIf you are a middle-income earner, even if you have relatively complicated taxes, you should qualify to file your taxes for free through the IRS’s Free File program. Eligibility for free state tax filing through Free File depends on your state and the Free File provider you choose. However, Free File is a separate program and distinct from these company’s free online offerings, such as the ones detailed above. You have to access Free File through the IRS.gov Free File portal and create an account through the program.

☆ Here's how the U.S. economy could escape a recession in 2023
▼ + stars: | 2022-12-30 | by ( Jeff Cox | ) www.cnbc.com time to read: +12 min

The U.S. economy heads into 2023 facing what might be the most anticipated recession in history. That basically means some parts of the economy will feel like they're in a recession while others won't. "Some areas of the economy may not feel like they actually are in recession. "For certain parts of the economy, it will feel like a very deep recession. For other parts, it will feel like a healthy growth economy, particularly in the parts of the economy where we see strong demand," she said.

☆ 'Asia's El Chapo' extradited to Australia to face drug trafficking charges
▼ + stars: | 2022-12-22 | by ( Alasdair Pal | ) www.reuters.com time to read: +2 min

WELLINGTON, Dec 22 (Reuters) - Australian Federal Police (AFP) said on Thursday it had taken the head of a global drug trafficking syndicate, dubbed 'Asia's El Chapo', into custody after he was extradited from the Netherlands. The AFP did not identify the person arrested by name, and does not typically disclose the names of arrested individuals before trial. A person familiar with the case said the man arrested was Canadian citizen Tse Chi Lop, one of the world's most prominent drug lords. A second man was arrested by the AFP in June in connection with the case. "The AFP will make Australia a hostile environment for all trans-national serious organised crime syndicates that target our communities."

☆ Thailand's 'floating train' a big hit as dam waters rise
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

LOP BURI, Thailand, Nov 7 (Reuters) - Tickets have been selling out fast in Thailand for rides on a special "floating train", where passengers have been enjoying the illusion of aquatic rail travel due to a post-monsoon rise in water levels. The route starts in the capital Bangkok and passes through the Pasak Jolasid dam in Lop Buri province six hours away on an elevated track just above the water level, which officials say has been unusually high this year. The train runs only at weekends between November and February and tickets have been sold out until New Year. "I've never seen anything like this before," said Bunyanuch Pahuyut, who was among 600 passengers who have travelled on the route on Sunday. Reporting by Jiraporn Kuhakan; Editing by Martin Petty and Lincoln FeastOur Standards: The Thomson Reuters Trust Principles.

HONG KONG, Oct 27 (Reuters Breakingviews) - Tesla’s (TSLA.O) China price cut is a double-edged sword. China is increasingly important for Tesla and its investors, accounting for around a quarter of the electric-car maker’s top line in the first nine months of 2022. If sales reach nearly $120 billion next year as forecast by Refinitiv, a 9% cut would equate to around $2.5 billion in revenue. Chinese drivers, though, are starting to snub international badges in favour of home-grown alternatives, especially for electric and premium models. The company posted the price cuts on its China website on Oct. 24.

☆ Rishi Sunak offers only temporary fix for UK woes
▼ + stars: | 2022-10-24 | by ( George Hay | ) www.reuters.com time to read: +4 min

Now that Sunak has seen off an attempted return by wayward former Prime Minister Boris Johnson, yields are down to 3.7%. About 30 billion pounds of her 45 billion pounds of unfunded tax cuts have been already reversed, leaving a narrower 40 billion pound hole. But cheaper borrowing costs hastened by Sunak’s appointment should cut the gap to just 30 billion pounds, a UK budget expert told Breakingviews. Follow @gfhay on TwitterloadingCONTEXT NEWSFormer finance minister Rishi Sunak will become Britain's next prime minister after winning the race to lead the Conservative Party. Former prime minister and rival Boris Johnson withdrew from the contest saying he could no longer unite the party.

☆ I always book a warm-weather escape around the holidays using points from the Hilton Aspire card. It's not too late for you to do the same if you start now.
▼ + stars: | 2019-11-10 | by ( Carly Helfand | Read More | Read Less | ) www.businessinsider.com time to read: +14 min

Here's how one hotel credit card — the Hilton Honors Aspire Card — has helped me do it year after year, and how it can help you do the same. Welcome bonusIf you don't yet have the Hilton Honors Aspire Card or you're just starting out with it, you're in luck. Earning Hilton pointsAnother star feature of the Hilton Honors Aspire Card is its sky-high earnings rate on Hilton properties. Free reward nightAt $450 per year, the Hilton Honors Aspire Card isn't cheap. Valuable annual statement credit for eligible Hilton purchases Cons Dash icon A dash.

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