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☆ The US crackdown on Russian trade is working as Putin struggles to fund his war
▼ + stars: | 2024-05-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Trade with Russia has slumped in the first quarter amid tightening US sanctions, the Financial Times said. After a December executive order bolstered its sanctioning power, the department has amplified warnings against foreign lenders that facilitate trade with Russia. At the same time, the US' crackdown has proliferated trade in the Russian ruble, as other currencies increasingly fall out of favor. That's as foreigners are still free to buy rubles on the Moscow Exchange when settling payments with Russian parties. AdvertisementStill, the ruble faces restricted convertibility, making it difficult to reach trade volumes once possible under the dollar.

Persons: —, Vladimir Potanin, That's Organizations: Financial Times, Companies, Service, US Treasury Department, United Arab Locations: Russia, China, Turkey, Ankara, United Arab Emirates, Austria, Russian, Iran, Tehran, Moscow, UAE, dirhams

☆ Sketches from US animation studios found on North Korean computer server
▼ + stars: | 2024-04-22 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +11 min

The revelation comes from a trove of documents recently discovered by US researchers inside a computer server housed in North Korea. Logs from the North Korean computer server showed multiple visits from internet connections in northeast China, the US cybersecurity firm Mandiant told CNN. North Korean leader Kim Jong Un inspects an artillery firing drill of the Korean People's Army on March 7, 2024. Barnhart, the Mandiant researcher, said any company that hires a North Korean IT worker runs the risk of being targeted by North Korean hackers because of the close relationship between the two. Heinz Insu Fenkl, an expert in North Korean comics, said that animation and comics have been prominent in North Korean society since the country’s founding in 1948.

Persons: “, Nick Roy, Roy, Mandiant, Michael Barnhart, ”, Max ., Hannah Cosgrove, ” Cosgrove, Max, Lion Forge, Martyn Williams, Williams, ” Williams, Kim Jong Un, KCNA, Barnhart, ” Barnhart, CNN wouldn’t, Heinz Insu Fenkl, ” Fenkl, CNN’s Alex Marquardt, Mike Conte Organizations: CNN, North, US, Amazon Prime, Max, Warner Bros ., Korean, Stimson, FBI, Treasury, North Korean, Entertainment, Amazon, ”, Skybound, YouNeek Studios, Forge Entertainment, Lion Forge Entertainment, South Korean, South, US Treasury Department, Treasury Department, Korean People's Army, State, United Nations, North Korean Embassy Locations: North Korea, Korean, Boston, Washington, State, North Korean, China, CNN , California, Maryland, South Korea, Koreans, Pyongyang, Korea, California, New York, London, cybercrime

☆ Opinion: What does Iran really want?
▼ + stars: | 2024-04-14 | by ( Peter Bergen | ) edition.cnn.com time to read: +10 min

“A modern, strong, peaceful Iran could become a pillar of stability and progress in the region,” former US Secretary of State Henry Kissinger wrote in 2006. Iran introduced into the Iraqi war zone highly effective roadside bombs known as EFPs – Explosively Formed Penetrators – that wounded and killed hundreds of American soldiers. The official US Army history of the Iraq War concluded that Iran was the only winner of that war. Iran’s ‘cookie-cutter approach’Norman Roule was the top US intelligence official on Iran from 2008 to 2017. The withdrawal of the US troops from neighboring Iraq is a key goal of Iran, which exerts considerable influence over some Iraqi politicians.

Persons: Peter Bergen, Osama bin Laden, Shah, Henry Kissinger, Iran’s ayatollahs, Karim Sadjadpour, Sadjadpour, Reagan, bin Laden, bin, al, Saddam Hussein, –, Noam Chomsky, Iran’s, Norman Roule, Roule, propping, Bashar al, Assad, Christine Abizaid, ”, Trump, Obama, Donald Trump, ‘, Benjamin Netanyahu, hasn’t, Joe Biden, Netanyahu, hadn’t, Biden, Abizaid, Mohammed Shia Organizations: New, Arizona State University, Apple, Spotify, CNN, Saturday, East, CIA, US Army, Israel, US National Counterterrorism Center, US Treasury Department, ‘ Deemed, United Nations, Israel’s, Hamas, Iran, White, ISIS Locations: New America, Israel, Iranian, Damascus, Iran, United States, Palestine, ”, Lebanon, Beirut, Saudi, al Qaeda, Iraqi, Saddam, Iraq, Syria, Yemen, Red, Suez, Gaza, New York, Damascus ”, Jordan

☆ US welcomes new governments in fight against spyware as it finds more American personnel have been targeted
▼ + stars: | 2024-03-17 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +6 min

A year ago, the Biden administration put the tally of US government personnel either suspected of or confirmed to have been targeted by spyware at 50. The market for commercial spyware has exploded over the last decade as companies from Israel to North Macedonia have hawked their services and many governments have been willing buyers. Poland’s prime minister has claimed the previous government used spyware on a long list of victims. The Biden administration’s review “did not identify widespread use” in the federal government of commercial spyware, the official said in a rare interview on the subject. Spyware companies often hide behind opaque corporate structures and companies to stay in business, according to US officials and researchers who track those companies.

Persons: CNN —, Biden, “ Organizations: CNN, US National Security Council, NSC, US Treasury Department, Summit for Democracy, State Department, NSO Group, FBI, Pegasus, White Locations: Israel, North Macedonia, Poland, Ireland, Finland, Germany, Japan, South Korea, Seoul, ”, Africa, —

☆ Here’s why the Fed cares about the cost of your haircut and your doctor’s visit
▼ + stars: | 2024-03-10 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

Overall, consumer prices rose 0.3% in January 2024 from December 2023, according to the latest Consumer Price Index. The Labor Department releases its Consumer Price Index for February on Tuesday. The drivers of services inflation have been threefold: Vehicle insurance, hospital insurance, and financial services. The US Labor Department releases its Consumer Price Index for February. The US Commerce Department releases February figures on retail sales in addition to January data on business inventories.

Persons: don’t abate, Price, it’s, Bell, Saira Malik, They’ve, I’ve, Biden, Joe Biden, I’m, ”, Biden’s, Read, Guess Organizations: Washington CNN, Federal Reserve, Labor Department, Oracle, Asana, Vail Resorts, US Labor Department, US Treasury Department, National Statistics, Adobe, Dollar, Sporting Goods, Getty, US Commerce Department, The New York Fed, Manufacturing Index, University of Michigan Locations: Nuveen, Thursday’s State, America

☆ NYCB stock is down over 40%, in latest sign the bank is in dire straits
▼ + stars: | 2024-03-06 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

New York CNN —Shares of New York Community Bank (NYCB) plunged more than 40% Wednesday afternoon after The Wall Street Journal reported that the beleaguered regional lender is seeking a major cash infusion. Then last week, the bank said in a filing it had identified “material weakness” in the company’s controls. The issues caused a $2.4 billion loss to shareholders last quarter, NYCB said. The delay draws eerie parallels to First Republic Bank, which postponed reporting its quarterly earnings shortly before it failed last year. First Republic Bank similarly needed an emergency cash infusions not long before it collapsed.

Persons: NYCB, NYCB didn’t, Alessandro DiNello Organizations: New, New York CNN, New York Community Bank, Street Journal, ”, First Republic Bank, US Treasury Department Locations: New York

☆ The US wants to boost affordable housing by using billions in unspent COVID aid
▼ + stars: | 2024-03-06 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The US Treasury Department is making unused COVID funds available to support housing projects. The State and Local Fiscal Recovery Funds has around $40 billion in unspent money, Reuters said. The Treasury will also step up efforts to understand the impact of climate risks on housing supply. AdvertisementBillions of unspent pandemic dollars have been made available for housing projects as the federal government steps up efforts to tackle the shortage of affordable homes. The department also indefinitely extended backstop financing for a risk-sharing program between the Department of Housing and Urban Development and local financing agencies.

Persons: —, Wally Adeyemo Organizations: US Treasury Department, Reuters, Treasury, Service, US Treasury, of Housing, Urban Development Locations: State

☆ Zimbabwe leader and wife sanctioned by US for alleged corruption and human rights abuse
▼ + stars: | 2024-03-05 | by ( Nimi Princewill | ) edition.cnn.com time to read: +4 min

CNN —Zimbabwe’s President Emmerson Mnangagwa and first lady Auxillia have come under a slate of new US sanctions imposed that also targeted senior government officials accused of corruption and human rights abuses. Incumbent President Mnangagwa, 81, who was the speaker of the Zimbabwean parliament in 2003, was among 76 high-ranking officials hit by the US sanctions at the time. And as long as members of Corporate Zimbabwe are under sanctions, we are under sanctions,” he added. His wife, Auxillia Mnangagwa, was also sanctioned for her alleged complicity in corruption. Mnangagwa, nicknamed “The Crocodile,” succeeded authoritarian leader Mugabe in 2017 after helping to orchestrate the coup that ousted him.

Persons: CNN —, Emmerson Mnangagwa, Auxillia, Constantino Chiwenga, Oppah Muchinguri, Washington “, Robert Mugabe, Mnangagwa, Wally Adeyemo, Joe Biden, Nick Mnangagwa, Mnangagwa’s, “, Farai Marapira, ” Marapira, ” Mnangagwa, “ Mnangagwa, Auxillia Mnangagwa, ”, Mugabe Organizations: CNN, Defense, Washington, Treasury, US Treasury Department, Corporate Locations: Zimbabwe, Corporate Zimbabwe

☆ Ecuador’s drug kingpin José Adolfo ‘Fito’ Macías lived ‘like a king’ while locked up. His jailbreak shines a light on the country’s lawless prisons
▼ + stars: | 2024-02-20 | by ( Tara John | David Culver | ) edition.cnn.com time to read: +12 min

Macías’ prison cell is seen in these videos filmed by members of the military last year. Los Choneros and their main rival, Los Lobos, are believed to be allied with Mexican drug cartels in a war for dominance over Ecuador’s drug trade. Los Lobos saw an opening amid a violent power struggle in Los Choneros when Macías became its leader in 2020, say experts. In a music video shared online last year, the Los Choneros leader can be seen petting a rooster, apparently inside Guayaquil prison complex. But the press secretary of Ecuador’s president reckons the Los Choneros leader was told about an impending prison transfer.

Persons: José Adolfo Macías, Adolfo Macias, Fito, ”, Pablo Escobar, Macías, ” Jean Paul Pinto, Glaeldys, Julio Cesar Ballesteros, SNAI, Lenín Moreno, Ballesteros, Diana Salazar, “, ” Jeremy McDermott, it’s, Choneros, González, Mariachi Bravo, Macías ’, Michelle, Bravo, Fito ’, Daniel Noboa, Noboa, Patricia Bullrich, reckons, ” Roberto Izurieta, jailbreak, Fabricio Colón Pico, Ecuador’s Organizations: CNN, Ecuadorean, Forces, Ecuadorean Armed Forces, AFP, roosters, Prisons, Crisis, Los, Los Lobos, US Treasury Department, Ecuavisa, Marriott, Argentina’s, Argentine, Teleamazonas, Police Locations: La Regional, Colombian, Latin America, Ecuadorian, Ecuador, Colombia, SNAI, America, Americas, Los Lobos, Mexican, Choneros, Guayaquil, Guayaquil –, Argentine, Córdoba, Argentina, CNN Ecuador

☆ US sends top Treasury officials to China to discuss economy
▼ + stars: | 2024-02-05 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —A team of five US Treasury Department officials is traveling to Beijing this week for a series of meetings on the economy with their counterparts in China, a Treasury official told CNN on Monday. The trip by senior officials comes ahead of a planned return to China by Treasury secretary Janet Yellen later in 2024. Specifically, the Treasury delegation plans to raise China’s use of non-market economic practices and industrial overcapacity, the official said. The visit marks the first time that the economic working group is meeting in Beijing since it was launched last September after Treasury Secretary Janet Yellen’s trip to China. However, there is nothing to suggest the latest US-China meeting is in direct response to the renewed concerns about China’s economy and financial markets.

Persons: New York CNN —, Janet Yellen, Jay Shambaugh, Donald Trump, Yellen, Janet Yellen’s, ” Yellen, “, Jerome Powell, ”, Powell, ” Powell Organizations: New, New York CNN, US Treasury Department, Treasury, CNN, Shanghai, Weibo, The New York Times, China Business Council’s, Federal, United Locations: New York, Beijing, China, Treasury’s, Washington, Hong Kong, Evergrande, United States

☆ Russia boasts it is beating sanctions, but its longer-term prospects are bleak
▼ + stars: | 2024-01-29 | by ( Tim Lister | ) edition.cnn.com time to read: +14 min

Far from buckling under their weight, the Russian economy is in fact 1% larger than it was on the eve of the invasion. India and China now account for 90% of Russian oil exports, according to Deputy Prime Minister Alexander Novak. Noemi Cassanelli/CNNThere’s little sign that ordinary Russians have been drastically impacted by Western sanctions. Sanctions will have a long-term impact on the Russian economy, according to the European Commission. Nabiullina said the Russian economy was like a car trying to go too fast.

Persons: Vladimir Putin, Putin, Sergei Chemezov, ” Chemezov, Scott Peterson, Alexander Novak, Christine Abely, “, ”, SWIFT, Alexei Mordashov, Noemi Cassanelli, Geoffrey Pyatt, Rachel Lyngaas, —, Alexander Nemenov, Elvira Nabiullina, Nabiullina, Natalia Kolesnikova, ” Abely Organizations: CNN, Atlantic Council, Russia, West ., Shipping, Windward, Reuters, US Treasury Department, United Arab Emirates, Crime Agency, US Treasury, “, Bank of, European, US, Financial Times, Russian Central Bank, Getty, Producers, International Energy Agency Locations: United States, Ukraine, Russian, Russia, Western, Sviatohirsk, Donetsk region, Asia, West, West . India, China, India, Volgograd, Turkey, UAE, Bank of Finland, Hong Kong, Europe, Egypt, Thailand, Moscow, Kazakhstan, Soviet Russia, AFP, Beijing

☆ E. Jean Carroll may face a hefty tax bill if Donald Trump owes her money — thanks to a law he signed while president
▼ + stars: | 2024-01-24 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +4 min

E. Jean Carroll is seeking more damages from Trump in her second defamation trial. But she could have to pay a hefty amount in taxes — known as the "plaintiff double tax" — on those damages. It's all thanks to a tax bill that Trump signed in 2017, when he was president. AdvertisementE. Jean Carroll is seeking more damages in her second defamation trial against former President Donald Trump. But the judge determined in September that Trump had already been found liable for defaming Carroll, meaning the second trial focuses purely on whether Trump owes Carroll additional damages.

Persons: Jean Carroll, Trump, —, Donald Trump, that's, Jeremy Babener, Babener, Carroll, defaming Carroll Organizations: Trump, Service, Structured Consulting, Treasury Department's, Business, Planners Locations: Utah

☆ France's new prime minister is 34 years old. Here are the youngest national leaders in the world, ranked by age.
▼ + stars: | 2024-01-11 | by ( Elana Klein | Talia Lakritz | ) www.businessinsider.com time to read: +1 min

Kim Jong Un, who is believed to be 40, has held the position of supreme leader of North Korea since 2011. Kim Jong Un. API/Getty ImagesThe supreme leader of North Korea has been groomed for power for most of his life, and he took control of the hermit kingdom in 2011. A diehard basketball fan who was educated at a private school in Switzerland, Kim has had a life unlike any other world leader. His nuclear ambitions and bellicose rhetoric also mean he occupies a place on the world stage completely out of proportion with his nation's power.

Persons: Kim Jong Un, Kim Jong, Kim, Ellen Cranley Organizations: US Treasury Department Locations: North Korea, Switzerland

☆ Biden administration announces new financial strike force to curb deadly fentanyl trade
▼ + stars: | 2023-12-04 | by ( Sam Fossum | ) edition.cnn.com time to read: +5 min

“The Treasury Department’s Counter-Fentanyl Strike Force will allow us to bring the Department’s unrivaled expertise in fighting financial crime to bear against this deadly epidemic. The strike force will be led by the department’s top sanctions official, Brian Nelson, and the chief of the Internal Revenue Service’s criminal investigations unit, James Lee. It will “redouble Treasury’s existing work streams, including using financial intelligence to understand risks and map transnational criminal organization (TCO) financial networks,” according to a news release. Several key units within the Treasury Department that specialize in financial crimes, sanctions, and tracking terrorist and illicit financing will be part of the new strike force. The new strike force will also help streamline the Treasury Department’s efforts to coordinate with local and federal law enforcement bodies on potential financial leads.

Persons: Janet Yellen, Brian Nelson, James Lee, ” Nelson, Xi Jinping, Joe Biden, Biden, Yellen, Nelson, “ Organizations: Washington CNN, Monday, Treasury Department, Treasury, Network, Foreign Assets Control, of Intelligence, US Treasury Department, Strike Force, Department, Drug Enforcement Agency, Department of Homeland Security, Department of Justice, US Centers for Disease Control, CNN, Mexican, Biden Locations: United States, China, Ukraine, Mexico

☆ US, European officials crack down on crypto service accused of laundering money for North Korean leaders
▼ + stars: | 2023-11-29 | by ( Sean Lyngaas | ) edition.cnn.com time to read: +3 min

Washington CNN —The US Treasury Department on Wednesday sanctioned a cryptocurrency service accused of helping launder millions of dollars for the North Korean regime. The FBI and European law enforcement agencies have also seized the website of the crypto service, known as Sinbad, according to a notice that appeared on the website Wednesday. Analysts say North Korea has leaned heavily on mixers to move money amid greater scrutiny from law enforcement agencies from the US, South Korea and elsewhere. The North Korean regime has also used thousands of IT workers working overseas, sometimes posing as other foreign nationals, to quietly raise revenue, according to US officials and North Korea experts. “The laundering tactics of North Korean cyber criminals continued to evolve,” Nick Carlsen, who was an FBI intelligence analyst focused on North Korea until 2021, told CNN.

Persons: Joe Biden, Sinbad, Nick Carlsen, Carlsen, “, ” Organizations: Washington CNN, US Treasury Department, Wednesday, North, FBI, cyberattacks, White House, US, CNN, US Treasury, Treasury, TRM Locations: launder, Korea, South Korea, cryptocurrency, North Korea, North Korean, North Koreans, Korean, Koreans

☆ Chinese bank ICBC hit by ransomware attack
▼ + stars: | 2023-11-10 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A US unit of the Industrial and Commercial Bank of China (ICBC) was hit by a ransomware attack this week that disrupted some of its systems, reportedly hitting liquidity in US Treasuries which may have contributed to a brief market sell-off on Thursday. ICBC Financial Services, which is headquartered in New York, said in a statement that the attack, which happened on Wednesday, had been reported to law enforcement. “We successfully cleared US Treasury trades executed Wednesday … and [repurchase agreements] financing trades done on Thursday,” it said in the statement. The Financial Times and Reuters quoted some market participants as saying trades going through ICBC were disrupted, which affected market liquidity. It’s unclear whether the incident contributed to the weak 30-year bond auction conducted by the US Treasury Thursday.

Persons: “, ”, Wang Wenbin, Ipek Ozkardeskaya, Joe Biden, CNN’s Wayne Chang Organizations: Hong Kong CNN, Industrial, Commercial Bank of China, ICBC Financial Services, Treasury, York Branch, State, P, China’s, Ministry, Financial Times, Reuters, US Treasury, Swissquote Bank, Dow, Nasdaq, US Treasury Department Locations: China, Hong Kong, New York, Beijing, York, ICBC, Treasuries, Japan

☆ Bank of America warns of banking industry deposit delays
▼ + stars: | 2023-11-03 | by ( Matt Egan | ) edition.cnn.com time to read: +1 min

New York CNN —Bank of America alerted customers on Friday that their deposits may be delayed due to a problem impacting multiple banks. Customers at Bank of America, Chase, US Bank, Truist and Wells Fargo have complained of issues on Friday morning, according to Downdetector. An industry source tells CNN that the issue appears to be related to the Automated Clearing House (ACH), which is a network for processing transactions. The source said the problem does not appear to be a bank-specific issue. In a message to customers on Friday, Bank of America said “some deposits may be temporarily delayed.”The message said the deposits from Friday may be delayed due to an “issue impacting multiple financial institutions.”“Your accounts remain secure, and your balance will be updated as soon as the deposit is received,” the Bank of America message read.

Persons: Wells Fargo Organizations: New, New York CNN — Bank of America, Bank of America, US Bank, CNN, Reserve, US Treasury Department Locations: New York, Truist, Wells

☆ Treasury set to borrow $776 billion next quarter, the most ever borrowed in the fourth quarter
▼ + stars: | 2023-10-30 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +1 min

New York CNN —The US Treasury Department said it expects to borrow $776 billion in the final quarter of this year, the most the government has ever borrowed during a fourth quarter. The forecast is $76 billion less than the estimate Treasury made in August due to higher-than-anticipated tax collections in October. The updated estimate likely means Treasury will issue fewer bonds this quarter than investors were bracing for. The Treasury also said it expects to borrow $816 billion in the first quarter of next year. Meanwhile, last quarter the government borrowed $1.01 trillion, or $277 billion more than the Treasury initially estimated in May.

Persons: That’s Organizations: New, New York CNN, US Treasury Department, Treasury Locations: New York, California

They’re opportunistic and adaptive,” said former CIA analyst Yaya Fanusie, now an adjunct senior fellow with the Center for a New American Security. It’s unclear how much money Hamas has received in cryptocurrency, but there’s evidence they have amassed significant amounts. Another $94 million was allegedly held by the Palestinian Islamic Jihad, a militant partner of Hamas, according to Elliptic, another analytics firm. Hamas additionally raises funds through informal taxes and smuggling, according to a Congressional Research Service report from May. Investigators were able to seize 150 cryptocurrency accounts “that laundered funds to and from” Hamas accounts, according to a DOJ news release.

Persons: launderers, European Union –, “ There’s, ”, Yaya Fanusie, –, Dmitry Machikhin, Arda Akartuna, Akartuna, Jake Sullivan, Iran “, Sullivan, Asher Perlin, Yitzchak Weinstock, Weinstock, “, al, Perlin Organizations: CNN, Hamas, Justice, Justice Department, European Union, Center, New, New American Security, Department of Homeland Security, ’, Reuters, Wall Street, Brigades, Palestine Islamic, US State Department, US Treasury Department, Islamic Revolutionary Guard Corps, Treasury, US Treasury, White, National, Congressional Research Service, US Justice Department, ”, Investigators, DOJ Locations: Iran, cryptocurrency, Israel, Washington ,, United States, New American, New Jersey, bitcoin, Jihad, Palestine, Turkey, Lebanon, Lebanese, Syria, Tehran, Jerusalem

☆ Liberia: Citizens vote in crucial polls amid flaring tensions
▼ + stars: | 2023-10-10 | by ( Nimi Princewill | ) edition.cnn.com time to read: +9 min

‘Correcting a mistake’Boakai told CNN that his young supporters are now desperate for change. Weah’s campaign manager told CNN no Liberian law prevents them from running from office, adding that the government was awaiting evidence from US to enable prosecutions. A unique electionOscar Bloh, head of ECC, Liberia’s largest election observation group, told CNN this election is different from previous polls in the country. A spokesman for the electoral commission, Henry Flomo, told CNN, “Everything is in schedule,” as dictated by law. “It’s unlikely that any of the candidates will win outright during the first round,” he told CNN.

Persons: CNN —, George Weah, Weah, Joseph Boakai, Seif Magango, Ballon, Boakai, ’ Boakai, ’ ”, ” Boakai, Ahmed Jallanzo, Liberians, ”, Joel Cholo Brooks, Shutterstock, ” Weah, Samuel Tweah, –, they’ve, Eugene Nagbe, ” “, Nagbe, “, Brooks, Nathaniel McGill, ” McGill, Sayma Syrenius, Bill Twehway, Twehway, I’m, ” Nagbe, Oscar Bloh, Bloh, Henry Flomo, ” Flomo Organizations: CNN, UN, Bank, Coalition for Democratic, Unity Party, Facebook, UN Human Rights, Boakai, Soul Clinic, Global News Network Liberia, Coalition, Democratic, FIFA, Liberian, Liberia Anti, Corruption, Washington, Port Authority, US Treasury Department, McGill, Weah’s CDC, Transparency International, TI Locations: Liberia, Monrovia, Pipeline, “, Qatar, American, United States

☆ America’s political turmoil hampers its capacity to lead through yet another global crisis
▼ + stars: | 2023-10-09 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

But no one could foresee just how quickly the paralysis in Washington would test the country’s reaction to a major global crisis. A situation this dangerous requires a calm, united and thoughtful US response, supported across the political spectrum. This means, at best, the United States will spend the coming months preoccupied by its own political plight. As president, I will once again stand with Israel,” Trump said. A growing sense abroad that America’s political problems are limiting its ability to lead globally could also have a devastating effect on its power.

Persons: –, Kevin McCarthy, Donald Trump, Joe Biden, “ Joe Biden, Israel, ” Trump, Biden, autocrats, doesn’t, Michael McCaul, Xi, Michael Lawler, “, ” Lawler, CNN’s Dana Bash, McCarthy, Jim Jordan, Trump, Steve Scalise, Ukraine –, America’s, Russia –, Antony Blinken, ”, Nikki Haley, Blinken, ” Haley, GOP Sen, Tim Scott of, Biden – Organizations: CNN, Republicans, Israel, Republican, Trump, Hamas, House Foreign Affairs, Texas Republican, GOP, Senate, Democratic, White, Russia, Republican Party, US Treasury Department, Union, United Nations, Press, Washington Locations: Israel, United States, Washington, Ukraine, Iran, Russia, China, “ State, Texas, New York, Kyiv, Beijing, Moscow, Tehran, Gaza, Islamic Republic, Saudi Arabia, Tim Scott of South Carolina

☆ Government bonds are in a rout worldwide. Here's why you should care
▼ + stars: | 2023-10-04 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

When official interest rates rise, so do investors’ expectations for returns on bonds, known as yields. In the United Kingdom, the yield on 30-year bonds also reached 5% this week, the highest level in more than two decades. Yields on Italy’s 10-year bonds hit 5% on Wednesday, the highest level since 2012, when that crisis was in full swing. Mortgage rates riseThe yields on local government bonds are usually used by banks to price mortgages. High official interest rates in America and Europe have also raised the cost of borrowing for businesses.

Persons: Saul Loeb, Liz Truss, —, Matt Cardy, Freddie Mac, Andrew Sheets, Morgan Stanley, Stocks, ” Russ Mould, AJ Bell, we’ve, ”, “, That’s, ” Susannah Streeter, Hargreaves Lansdown Organizations: London CNN, US Treasury Department, Getty, UK, CNN, Nasdaq, Federal Reserve, BlackRock, Hargreaves Locations: Washington ,, United Kingdom, Bath, England, United States, Europe, America

☆ A $120 million megayacht linked to a Russian billionaire was seized by authorities, and now residents of a small Caribbean nation are paying $28,000-a-week to maintain it, report says
▼ + stars: | 2023-09-25 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

A $120 million megayacht linked to a Russian billionaire has been docked in Antigua and Barbuda for 19 months. Now taxpayers in the small country are paying $28,000-a-week to maintain the idle vessel, per the WSJ. The Alfa Nero is a $120 million vessel that was raided by armed police and the FBI in August 2022, having been left in Antigua's Falmouth Harbor since Russia invaded Ukraine six months earlier. The US Treasury Department has linked the Alfa Nero to Andrey Guryev , a Russian oligarch who the department says is a "close associate" of Vladimir Putin. The Journal reports that the country's residents are paying $28,000-a-week in taxes to maintain the Alfa Nero, including the salary of an Italian captain and $2,000-a-day in diesel to keep its air conditioning running.

Persons: Nero, Alfa Nero, Andrey Guryev, Vladimir Putin, Eric Schmidt, Guryev's, it's, Joan Miró, Tom Paterson Organizations: Service, Street Journal, FBI, US Treasury Department, Bloomberg, Alfa, Guardian, Google Locations: Russian, Antigua, Barbuda, Caribbean, Wall, Silicon, Antigua's Falmouth Harbor, Russia, Ukraine, Falmouth Harbor, Italian

☆ Teo Boon Ching: 'Godfather' of illicit wildlife trade jailed for trafficking rhino horns worth $2 million
▼ + stars: | 2023-09-21 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

“Wildlife trafficking is a serious threat,” said Damian Williams, US Attorney for the Southern District of New York, in the release. Sam Yeh/AFP/Getty Images‘Body blow’Prosecutors said a covert operation exposed Ching’s efforts to traffic about 219 kilograms [483 pounds] of rhino horns “resulting from the poaching of numerous rhinoceros” with an estimated value of $2.1 million. The horns were delivered in a suitcase in Thailand by those working for the wildlife trafficking organization, officials said. The London-based Environmental Investigation Agency (EIA), which supplied intelligence on Ching to US enforcement agents, said his jailing was a “body blow” to the illegal wildlife trade. “Chinese and Vietnamese organized crime networks have long exploited Malaysia and other Southeast Asian countries as transit hubs for smuggling illegal wildlife commodities from Africa into Asia,” an EIA statement read.

Persons: Teo Boon Ching, Ching, ”, Damian Williams, Sam Yeh, Olivia Swaak, Goldman, “, ” “ Organizations: CNN, Southern, of, ” Rhinos, World Wildlife Fund, Rhinos, Getty, Prosecutors, Environmental Investigation Agency, US Treasury Department, Wildlife Justice Commission Locations: Malaysian, Manhattan, of New York, Thailand, United States, Africa, Asia, China, Vietnam, AFP, New York, London, Malaysia

☆ Biden takes a political hit but brings Americans home
▼ + stars: | 2023-09-18 | by ( Stephen Collinson | ) edition.cnn.com time to read: +7 min

After all, the United States does not do deals with its well-meaning friends to free hostages or wrongly detained Americans. There is no perfect deal to free imprisoned Americans and the agreement with Iran is especially divisive. In this way dealing with US enemies can be a sign of political strength rather than weakness. Criticism from the likes of former President Donald Trump and Pence is politicized in the context of their presidential campaigns – and ignores their own deals to free Americans. Moscow is subsequently currently driving a relentless bargain over the fate of imprisoned Americans Paul Whelan and Wall Street Journal reporter Evan Gershkovich.

Persons: Joe Biden’s, Mike Pence, Donald Trump, Pence, –, Trump, Wang, Kim Jong, Trump’s, Biden, Mike McCaul, Viktor Bout, Brittney Griner, Paul Whelan, Evan Gershkovich, ”, Barack Obama, Ronald Reagan, foments, Neda Sharghi, Emad Sharghi, “, Paul Whelan’s, Morad, Namazi – Organizations: CNN, Washington, Biden, Trump, Texas, House Foreign Affairs, Wall Street, White, GOP, US Treasury Department Locations: Iran, United States, Russia, Venezuela, Qatar, China, North Korea, Tehran, Moscow

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