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☆ Opinion: Trump attorney gives David Pecker an embarrassing courtroom apology
▼ + stars: | 2024-04-27 | by ( Opinion Norman Eisen | ) edition.cnn.com time to read: +5 min

Indeed, Bove was forced to apologize to Pecker in front of the jury to open the day. Bove got Pecker to concede that the National Enquirer did “catch and kill” stories to bury damaging information about high-profile people all the time. Bove also contrasted Pecker’s testimony with what was in the FBI notes of Pecker’s first 2018 interview with the feds. And Bove intimated that Pecker cannot directly connect Trump to the allegedly illegal payments then-Trump fixer Michael Cohen made to Daniels at a later date. As for Trump’s recognition of yours truly, it happened again as he left the courtroom Friday for the mid-day break.

Persons: Norman Eisen, “, Trump, Donald Trump, David Pecker, Norm Eisen, Emil Bove, Bove, Stormy Daniels, —, Juan Merchan, Bove’s, Pecker, Daniels, Hope Hicks, Merchan, Trump’s, ” Merchan, blunting, Pecker’s, Michael Cohen Organizations: CNN, Trump, National Enquirer, White House Communications, Twitter Locations: New York, Manhattan, Washington, York, —, Trump

☆ Russia may be trying to get its air force in the fight by luring Ukraine into moving its air defences, war experts say
▼ + stars: | 2024-04-04 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +4 min

Ukraine has mostly been able to counter Russia's air force, blunting its ability to affect the war. AdvertisementRussia may be trying to lure Ukraine's air defense systems away from the front line so its air force can play a bigger role, war analysts said. It theorized that Russia was doing it to bait Ukraine into moving its air defense systems away from the front lines. Ukraine has largely held back Russia's air force despite having a much smaller and older air force itself. AdvertisementIf Ukraine doesn't have enough air defenses, Russia's air force could quickly make its power felt, the experts warned BI earlier this year.

Persons: —, Justin Bronk Organizations: Service, Russia, House Republicans, Ukraine, Royal United Services Institute Locations: Ukraine, Russia, Avdiivka, Kyiv

☆ Jim Cramer shares his thoughts on Walgreens, Home Depot, RH, Kimberly-Clark and Vornado
▼ + stars: | 2024-03-28 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. "They need to be in this" business, Cramer said, noting that Builders FirstSource has been one of the best stocks in the S & P 500 lately. Cramer's CNBC Investing Club owns consumer-products giant Procter & Gamble . "This whole story about commercial real estate being in trouble, other than in San Jose, we're seeing improvement everywhere," Cramer said. Within banks, the CNBC Investing Club owns shares of Wells Fargo and Morgan Stanley .

Persons: Jim Cramer's, Jim Cramer, it's, Cramer, You've, Clark, They've, Morgan Stanley, Vornado Organizations: CNBC, Club, Walgreens Boots Alliance, Walgreens, Home Depot, Procter & Gamble, Vornado Realty Locations: San Jose, Wells Fargo

☆ Western special ops activity is on the rise around a new US partner in a strategic but unstable area of the Mediterranean
▼ + stars: | 2024-03-15 | by ( Constantine Atlamazoglou | ) www.businessinsider.com time to read: +7 min

Read previewA former Russian partner who has drawn closer to the US in recent years has lately become something of a hub for Western special operations activity. The country's proximity to Israel, Gaza, and the Red Sea is important for special operations training. Naval Special Warfare Operators (SEALs) and Special Warfare Combatant-Craft Crewmen (SWCC) conduct live fire weapons training with Cypriot Underwater Demolition Command (MYK) forces near Limassol, Cyprus on Jan. 29, 2024. In 2015, Nicosia signed a deal with Moscow allowing Russian warships to access its ports for replenishment. AdvertisementFollowing Russia's invasion of Ukraine, Cyprus barred Russian warships from its ports and scrapped the 2015 agreement, something the US had demanded.

Persons: —, Bill Gallagher, Bill Carlisle, Jeff Butler, Butler, Gallagher Organizations: Service, US Navy SEALs, Warfare, Cypriot, Business, Naval, Craft, Cypriot Underwater, Command, US Navy, Navy, NFL, Super, White House, Cypriot National Guard, Turkish, New Jersey National Guard, Navy SEAL Locations: Russian, Cyprus, Gaza, Germany, Netherlands, Akrotiri, Yemen, Limassol, Levant, North Africa, Asia, Israel, East Coast, Russia, Nicosia, Moscow, Greece, Turkish Republic of Northern Cyprus, Turkey, Ukraine, Cypriot

☆ How Biden hopes to recapture voters scarred by inflation
▼ + stars: | 2024-03-12 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +14 min

A majority of Hispanics, and even a plurality of Black voters, said Biden’s policies would cause inflation to rise, the survey found. You can’t not make the contrast and comparison.”These negative retrospective assessments of the Biden and Trump economic records create huge headwinds for the president. “Voters—even past Biden voters who disapprove of his economic record—clearly reject what Trump and Republicans are offering,” Democratic pollster Margie Omero said in an email. After voters were exposed to Biden’s populist arguments, assessments of his economic record improved in the group’s polling, Clark said. But even after hearing that case, most voters in the group’s surveys still gave Biden negative marks for his economic performance, the study found.

Persons: Joe Biden, Donald Trump, Trump, Biden, Biden –, “, ”, Danielle Deiseroth, West Virginia Sen, Joe Manchin, Shawn Fain, Evelyn Hockstein, Adam Green, Michael Tyler, Republican pollster Micah Roberts, It’s, Jim McLaughlin, ” McLaughlin, Roberts, ” Roberts, can’t, ” Tyler, Margie Omero, ’, Bobby Clark, Clark Organizations: CNN, GOP, Trump, Teamsters, Democratic, ACA, West, United Auto Workers, Biden, CNBC, Social Security, Republican, White, NBC News, New York Times, Siena College, CBS, Union, “ Locations: Wisconsin, Michigan, Belleville , Michigan, Scranton , Pennsylvania, Democratic, State, Biden’s

WASHINGTON (AP) — The Senate's border proposal was one of the toughest bipartisan bills to emerge on the issue in decades. Republicans have campaigned on border security for years, and public frustration is running high with the record number of illegal U.S. border crossings. Cruz’s likely Democratic opponent, Texas Rep. Collin Allred, said he’s already talking about the border deal on the campaign trail. Murphy agreed that Democrats should remain committed to broad immigration reforms, including pathways to citizenship for migrants who are already here. But he argued that may only be possible once Democrats first show voters they are serious about tough border enforcement.

Persons: —, Donald Trump, Chuck Schumer, “, Tom Suozzi, Schumer, New York “, Joe Biden, Biden, Sen, John Cornyn, Republicans aren’t, ”, Suzan, ” Schumer, Mike Johnson, ” Trump, He's, Republican Sen, James Lankford, Trump, Ted Cruz, Cruz, Mitch McConnell, Cruz’s, Collin Allred, he’s, ” Allred, doesn’t, Lois Clinco, “ I’m, Clinco, Connecticut Sen, Chris Murphy, Ro Khanna, ” Khanna, John F, Kennedy, Barack Obama, Todd Schulte, Murphy, Lisa Mascaro, Philip Marcelo Organizations: WASHINGTON, Republican, Republicans, Democratic, Texas Republican, Trump, Washington Democrat, Border Patrol, Democrats, Texas, Texans, New, New York City —, Rep, California Democrat, Associated Press Locations: New York, Texas, South Carolina, Long, Levittown, New York City, Connecticut, United States, California, America, Levittown , New York

Near Avdiivka, Ukraine CNN —Straddling the frontlines, the small town of Avdiivka has become the epicenter of the war in Ukraine. Still in Ukrainian hands – just – it’s enclosed on three sides by Russian troops and cannons. Amid the ruins, Russian and Ukrainian troops clash, preyed upon by drones and the occasional tank. Reliant on the Soviet kit they have, not the Western arms they crave, Ukrainian troops have learned to be more creative with their weapons in battle. The Ukrainian drone dives into the narrow dugout behind them and explodes.

Persons: –, “ Bess, ”, “, Joseph Ataman, Volodymyr Zelensky, Valery Zaluzhny, Ukraine’s, Daria Tarasova, Trump, John Kirby, Bradley, “ Barbie ”, “ It’s, Bradleys, Teren, Serhii Nuzhnenko, Zelensky, Dmitry Medvedev, “ Sayer ” Organizations: Ukraine CNN —, CNN, Omega Special Forces Group, 110th Mechanized Brigade, Reliant, Omega, National Security, Bradley, Ukraine, US, Russia, Ukraine's National Guard Omega, Kyiv, Russia’s Security, Omega Special Forces Locations: Avdiivka, Ukraine, Ukraine’s Donetsk, Ukrainian, Soviet, Bakhmut, “, Marinka, US, Russian

☆ This Russian Suicide Drone Is Blunting Ukraine’s Advance
▼ + stars: | 2023-11-03 | by ( Alistair Macdonald | James Marson | ) www.wsj.com time to read: 1 min

The Lancet drone is playing a key role on the battlefield for Russia. KYIV, Ukraine—One of the scourges of Ukraine’s counteroffensive is an exploding drone with distinctive X-shaped wings that smashes into targets at more than 100 miles an hour. In recent months, Russia’s Zala Lancet drone has repeatedly struck and disabled Ukraine’s Western-supplied armored vehicles that were supposed to break through Russian lines and turn the war decisively in Ukraine’s favor, according to Ukrainian soldiers and officials as well as videos posted on Russian social media.

Persons: Russia’s Locations: Russia, KYIV, Ukraine

The House is expected to vote Wednesday evening on a resolution to expel Rep. George Santos from the chamber in a rare move that could narrow the GOP’s thin majority. Santos has been embroiled in scandal since he took office and admitted to fabricating elements of his resume. House Republicans have been split on how to proceed. Just five lawmakers have ever been removed from the House by an expulsion vote, and three of them fought against the union in the Civil War. Earlier this year, under former Speaker Kevin McCarthy, House Republicans were able to skirt a Santos expulsion effort brought by Democrats after Santos was first indicted by federal prosecutors by referring the resolution to the House Ethics Committee.

Persons: George Santos, Santos, he’s, hasn’t, –, Mike Johnson, Santos ’, ”, Kevin McCarthy, McCarthy Organizations: New, House Republicans, New York Republicans, Congress, Democrats Locations: York, New

☆ U.S. Tries New Tack on Russian Disinformation: Pre-Empting It
▼ + stars: | 2023-10-26 | by ( Steven Lee Myers | More About Steven Lee Myers | ) www.nytimes.com time to read: +1 min

An article that appeared in August on an international news outlet, Pressenza, recycled a false Russian claim that the West was looting religious relics and art from a monastery in Ukraine’s capital, Kyiv, one of the holiest sites in Russian Orthodoxy. The article stands out, U.S. officials said, not because of what it claimed — but because of its source and intended audience. State Department officials have linked the article to what they describe as a covert information operation to spread Russia propaganda in Central and South America by producing articles that appear to originate with local media organizations, not the Russian government. The operation is nascent, but the department’s Global Engagement Center is disclosing the influence campaign in hopes of blunting its effect in a region where Russia has sought to discredit the United States and erode international support for Ukraine.

Organizations: State Department Locations: Ukraine’s, Kyiv, Orthodoxy, Russia, Central, South America, Russian, United States, Ukraine

☆ Student loan payments are back. Here’s where some Americans are trimming their budgets
▼ + stars: | 2023-10-11 | by ( Alicia Wallace | ) edition.cnn.com time to read: +14 min

Student debt relief activists participate in a rally at the US Supreme Court on June 30, 2023 in Washington, DC. “Of course, the lowest-earning households still collectively owe around $7 billion a year in student loan repayments. After the Supreme Court dashed any hopes of loan forgiveness, more Americans started making loan payments before the official repayment period, as well as interest, kicked in. “It’s just all the supplemental spending, a lot of that will disappear so that we can make room for the [student loan] payments,” he said. Jonnisha McCleod was able to wipe out $12,000 of her student loan debt.

Persons: Minneapolis CNN —, they’re, ”, Justine Lyons, “, pesky, Lyons, — Lyons, Robin Nathan “ It’s, you’ve, it’s, Kevin Dietsch, Emerson Sprick, Biden, Sprick, Shannon Seery, Wells, ” Seery, Nancy Vanden Houten, Brian Snyder, Snyder, “ It’s, Megan Lopez, ” Lopez, you’re, Logan Ricketts, Jamie, they’ve, ” Logan, Jonnisha, ” McCleod, ’, McCleod, Jonnisha McCleod, I’m, “ I’m, Katrice Williams, Williams couldn’t, Edna Monroy “, Williams Organizations: Minneapolis CNN, National Student, Federal Reserve Bank of New, US, Biden, New York Fed, Coalition, Department of Education, Education Department, CNN, Oxford, Oxford Economics, SAVE, Cleveland State University College of Law, Trump Locations: Minneapolis, Decatur , Georgia, States, Federal Reserve Bank of New York, Washington , DC, Wells Fargo, Baltimore , Maryland, Las Vegas, Cedar Park , Texas, Omaha , Nebraska, undergrad, Cleveland , Ohio

In that case, Britain accused Russia of an assassination attempt on its soil and expelled 23 Russian diplomats from the country. For its part, the U.S. expelled 60 Russian diplomats and ordered the closure of Russia's consulate in Seattle in solidarity with its British ally. If asked by Canada to expel a large number of Indian diplomats, these officials said, the U.S. would have little choice but to comply. This week, India told Canada to remove 41 of its 62 diplomats in the country, ramping up the confrontation. Trudeau and other Canadian officials, including Foreign Minister Melanie Joly, have hinted that Canada won't take reciprocal measures.

Persons: —, Biden, Justin Trudeau's, Narendra Modi, Joe Biden, Sergei Skripal, Trudeau, “ I’m, we're, ”, Danny Russel, Barack Obama’s, Modi, Melanie Joly Organizations: WASHINGTON, Publicly, Canadian, U.S, NATO, Asia Society Policy Locations: Canada, India, U.S, Vancouver, Russia, Iran, Saudi Arabia, North Korea, Pacific, United States, Ukraine, China, Australia, Japan, Salisbury, England, Britain, Seattle, St . Petersburg, Indian, British, New York, New Zealand, New Delhi, Washington

Were he to follow through on his promise, it would represent a sea-change for Slovakia, until now a staunch ally of its eastern neighbour Ukraine in its war against Russia. Bratislava has supplied weapons and offered strong political support to Kyiv within the European Union and NATO. Western diplomats and officials in Kyiv also say a small country like Slovakia can only go so far in upending EU and NATO policy. Disinformation, meanwhile, has spread, undermining public support for Ukraine since Russia's full-scale invasion of 2022, said Katarina Klingova of think-tank Globsec. The hoax was debunked, but the reaction pointed to the influence that false information surrounding the Ukraine war has among Slovakia's 5.5 million population.

Persons: Robert Fico, Radovan Stoklasa, Robert Fico's, Fico, Eleonora Tanacova, Viktor Orban, Orban, Katarina Klingova, Klingova, Andrew Gray, Thomas Balmforth, Mike Collett, White, Gareth Jones Organizations: REUTERS, NATO, EU, European Union, Russia, Moscow, Hungarian, Progressive, Ukraine, Thomson Locations: Banovce nad Bebravou, Slovakia, Russian, Ukraine Brussels, Ukraine, Slovakian, Russia, Bratislava, Kyiv, Crimea, EU, Brussels, Moscow, Donbas, Luhansk, Western, Europe, Hungary, Progressive Slovakia

☆ CNBC Daily Open: High rates are still hobbling IPOs
▼ + stars: | 2023-09-20 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Downbeat marketsU.S. markets dipped and U.S. Treasury yields rose Tuesday as investors braced themselves for the outcome of the Federal Reserve's meeting. At its open, Instacart popped 40% to hit $42, but pared gains as investors sold off to lock in their initial gains. Analysts who once predicted China would become the biggest economy globally are perplexed as to why the country's blunting its own growth.

Persons: Kospi, Hong, Instacart, Fereidun Fesharaki, Wood Mackenzie Organizations: CNBC, Treasury, Analysts, Global Locations: Asia, Pacific, China

☆ A shortage of land mines forced Russian troops to put down irregular minefields, creating new problems for Ukraine: report
▼ + stars: | 2023-09-08 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +6 min

Russia began laying minefields deeper than normal to make them harder for Ukraine to cross. The inconsistent and often improvised approach that followed, however, still created headaches for advancing Ukrainian forces. The result was that Russian minefields became irregular, which isn't necessarily out of the ordinary to begin with given terrain and time considerations. Citing conversations with Ukrainian forces, he also revealed that Russia sometimes built fake trench traps rigged with explosives. AdvertisementAdvertisementAnd the inconsistency and irregularity of the Russian minefields has only further complicated matters.

Persons: Jack Watling, Nick Reynolds, Watling, Reynolds, Michael Kofman Organizations: Service, Royal United Service Institute, Russian, 35th Marine Brigade, Anadolu Agency, Getty, Ukraine Locations: Russia, Ukraine, Wall, Silicon, Russian, Donetsk

☆ Stubborn euro zone inflation fails to settle ECB rate debate
▼ + stars: | 2023-08-31 | by ( Balazs Koranyi | ) www.reuters.com time to read: +4 min

The ECB has raised rates at its fastest pace on record in the past year, taking them to a more than two-decade high. "We still do not expect the Governing Council to raise key rates further at its September meeting." "The latest inflation figures raise the probability of a new increase in interest rates in September," Diego Iscaro at S&P Global Market Intelligence said. "However, this is far from a done deal, and a rapidly deteriorating economic background will still give doves in the ECB's Governing Council plenty of ammunition to argue for a pause." "This decline could counteract our efforts to bring inflation back to target in a timely manner."

Persons: Eric Gaillard, Robert Holzmann, Holzmann, Christoph Weil, Diego Iscaro, Isabel Schnabel, Schnabel, Balazs Koranyi, Catherine Evans Organizations: REUTERS, Rights, Central Bank, ECB, Reuters Global Markets, P Global Market Intelligence, Thomson Locations: Nice, France, Austria's, ECB's, Frankfurt

“If you were to throw gasoline on a fire that’s already burning, that fire would grow really rapidly, really quickly. “Being hurricane season prepared also means being compassionate and kind to yourself during times of hardship,” NOLA Ready, the city’s emergency preparedness campaign, advised in a post on Instagram. Ms. Sibley, an administrative assistant and Ms. Ozane’s sister, has tried to save money to help with riding out hurricanes only for other demands to interfere with that. “What am I going to do if a hurricane really comes?” she said. “I pray we don’t have a bad one this year,” Ms. Sibley said.

Persons: El Niño, ”, Roishetta Sibley Ozane, Phil Klotzbach, “ There’s, Hurricane Ida, Emily Kask, The New York Times El, El, Eric Blake, Andrew, Craig E, Blake, Michael, Laura, Ian, Clay Tucker, NOLA Ready, Hurricane Laura, Ozane, “ They’re, Lake Charles, Ms, Meoshia Sibley, Sibley, Ozane’s, ” Ms, “ Organizations: Biscayne, El, Colorado State University, ”, National Oceanic, Atmospheric Administration, Atlantic, The New York Times, National Hurricane Center, Experts, Louisiana State University, University of Southern, Delta, of Louisiana Locations: Biscayne Beach, Florida, Westlake, La, Hurricane, Galliano, United States, University of Southern Mississippi, New Orleans, Lake Charles, Louisiana

☆ Vietnam's EV ownership will see 'strong growth' in 2023, says new report
▼ + stars: | 2023-08-07 | by ( Sheila Chiang | ) www.cnbc.com time to read: +1 min

Vietnam's electric vehicle market appears poised for rapid expansion in the next decade, but there could be significant headwinds blunting that growth. According to BMI Research, a Fitch Solutions research unit, passenger EV sales in the country is expected to at least double this year. "In 2023, we expect passenger EV sales to expand by 114.8% year-on-year to reach around 18,000 units," said BMI's report published Thursday. Specifically, sales for battery electric vehicle (BEV) could surge by 104.4% compared to the previous year to nearly 17,000 units, the report said. The penetration rate for passenger EVs — defined as passenger EV sales as a percentage of the country's total passenger vehicle sales — is set to increase to 13.6% by 2030.

Persons: BEV Organizations: BMI Research, Fitch Solutions, Vietnam Automobile Manufacturers Association, Electric Locations: Vietnam, That's

☆ Ukraine had to execute its offensive 'flawlessly' to break Russia's defenses, but mistakes cost it in the opening round, war experts say
▼ + stars: | 2023-07-25 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +7 min

Ukraine's opening move in the counteroffensive was unsuccessful, experts just back from a trip there assert. Part of the problem is that it relied on newer, less experienced units that made mistakes at a critical moment. That does not "mean that the offensive has failed," he said, adding important context to his assessment of the first round. And that assessment is supported by Lee's account of Ukrainian assault forces advancing against Russian defenses without suppressing artillery fire. Combined arms warfare is not something most countries do effectively, and Ukraine lacks both equipment and experience with this kind of fighting.

Persons: Rob Lee, Lee, Dmytro Smolienko, Michael Kofman, Franz, Stefan Gady Organizations: Service, Foreign Policy Research Institute, NATO, Publishing, Getty, Artillery, Center for Naval, Center for New American Security Locations: Wall, Silicon, Ukraine, Russia

☆ Column: Turkey emerges as Europe's largest coal power producer in June
▼ + stars: | 2023-07-19 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

July 19 (Reuters) - Turkey overtook Germany and Poland to become Europe's top coal-fired electricity producer in June, and for the opening half of 2023 generated more coal power than Poland for the first time to emerge as Europe's second-largest coal user behind Germany. Even Poland, Europe's most coal-dependent economy, has seen a modest net capacity decline since 2018. Indeed, Turkey's electricity generation from all clean sources has risen by 40% since 2018, while generation from fossil fuels declined by more than 8% over that period. Further increases in coal-fired generation may in turn push Turkey farther ahead of Poland in terms of coal generation over the near term, and potentially narrow the gap more on Europe's top coal user, Germany. That should undermine coal's usage momentum in Turkey's energy system, and potentially result in Turkey making only a fleeting entry as one of Europe's main coal users.

Persons: Turkey's, Gavin Maguire, Robert Birsel Organizations: Germany, COVID, Reuters, Thomson Locations: Turkey, Germany, Poland, Europe, Turkey overtakes Poland, Southern Europe, Italy, Romania, Czech Republic, Ukraine

At present, minimum reserves are remunerated at the ECB's deposit rate, now 3.5% after a string of interest rate hikes to tame inflation. The sources said some staff advocate leaving an adjustment of the corridor until the ECB ends its current tightening cycle, with the final move a change in the deposit rate. The ECB has given itself a year-end deadline to decide, the sources said, although details could take longer to work out. Now, the deposit rate effectively sets an interest rate floor, similar to the way U.S. Federal Reserve rates function and the sources indicated this was likely to remain the case. Such a "demand driven floor-system" would let the ECB add excess liquidity as needed as opposed to running a permanently oversized balance sheet.

Persons: Isabel Schnabel, Catherine Evans Organizations: Staff, Senior European Central Bank, Reuters, Market, ECB, Federal, Bank of England, Thomson Locations: Helsinki, SINTRA, Portugal, Sintra, Finland

☆ Exclusive: Canada bank regulator says lenders should urgently tackle risks from mortgage extensions
▼ + stars: | 2023-06-13 | by ( Nivedita Balu | ) www.reuters.com time to read: +4 min

TORONTO, June 13 (Reuters) - Canada's financial regulator is urging lenders to tackle risks from mortgage extensions at the "earliest opportunity" as many borrowers try to navigate higher mortgage costs after the Bank of Canada's surprise rate hike last week. Canada's central bank has raised interest rates to a 22-year high of 4.75% and analysts are betting on another 25 points increase next month. The regulator had warned in April that though the short-term fix to extend mortgage payment periods helped borrowers, it would keep them in debt for longer. As the interest rate rises, the mortgage payment no longer covers the interest payment portion, which results in the mortgage balance and negative amortization. "We believe risks are still elevated with the prospect of more rate hikes adding to the headwind on mortgage renewals," Rizvanovic said.

Persons: OSFI, Royce Mendes, Mendes, Mike Rizvanovic, Rizvanovic, Nivedita Balu, Denny Thomas, Nick Zieminski Organizations: TORONTO, Bank of, Reuters, Desjardins, Bank of Canada, Bank, Thomson Locations: Toronto

☆ Explainer: Why is the Canadian economy strong despite record pace of rate hikes?
▼ + stars: | 2023-06-12 | by ( Steve Scherer | ) www.reuters.com time to read: +3 min

Analysts are betting on another rate hike in July, to help the Bank of Canada bring inflation back down to its 2% range. Here are some factors that are keeping demand robust in the Canadian economy. The savings rate has halved to 2.9% in the first quarter from the fourth quarter of last year, Statistics Canada said. The central bank says the fiscal spending is not adding to inflation, but it is not helping bring it down either. ($1 = 1.3347 Canadian dollars)Reporting by Steve Scherer; Additional reporting by Nivedita Balu in Toronto; Editing by Paul SimaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Randall Bartlett, Bartlett, Steve Scherer, Nivedita Balu, Paul Simao Organizations: OTTAWA, Bank of Canada, Desjardins, Statistics, Thomson Locations: Canadian, Statistics Canada, Provinces, Toronto

☆ U.S. Defense Chief Vows to Continue Military Actions Near China
▼ + stars: | 2023-06-03 | by ( Chris Buckley | Damien Cave | ) www.nytimes.com time to read: +1 min

This year, however, the Chinese defense minister, General Li Shangfu, declined to meet Mr. Austin. All these are sore points for Beijing, especially Taiwan, which China claims as its own territory. “We won’t be deterred by dangerous operational behavior at sea or in international airspace,” Mr. Austin told the audience of military officials and experts from across Asia and beyond. “The People’s Republic of China continues to conduct an alarming number of risky intercepts of U.S. and allied aircraft flying lawfully in international airspace. “We’ve all just seen another troubling case of aggressive and unprofessional flying by the P.R.C.,” he said, referring to China.

Persons: Lloyd J, Austin III, General Li Shangfu, Austin, Mr, ” Organizations: United, Washington, Taiwan Locations: United States, China, Singapore, Beijing, Washington, Austin, Taiwan, Asia, Republic of China

☆ China Rebuffs Pentagon Chief, Blunting Push for Rapprochement
▼ + stars: | 2023-05-29 | by ( Nancy A. Youssef | ) www.wsj.com time to read: 1 min

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