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☆ Chris Hemsworth criticizes directors such as Martin Scorsese and Marvel actors for 'bashing' superhero movies: 'Tell that to the billions who watch them'
▼ + stars: | 2024-05-14 | by ( Ayomikun Adekaiyero | ) www.businessinsider.com time to read: +4 min

Read previewChris Hemsworth criticized high-profile directors and his fellow Marvel actors for "bashing" the superhero genre when it is beloved by "billions." Chris Hemsworth as Thor in "Thor: Love and Thunder." "Superhero films actually kept people in the cinemas during that transition and now people are coming back. Related storiesHemsworth then turned his attention to Marvel actors who have spoken out against the franchise after their movies failed. Despite his strong defense of Marvel, Hemsworth criticized his last movie appearance, "Thor: Love and Thunder," on multiple occasions.

Persons: —, Chris Hemsworth, Martin Scorsese, Francis Ford Coppola, Quentin Tarantino, what's, Hemsworth, Thor, Scorsese, Coppola, Idris Elba, Anthony Hopkins, Christian Bale, Amr Alfiky, I've Organizations: Service, Marvel, Business, Times, Marvel Studios, GQ Locations: London

☆ The Solar Storm Fried GPS Systems Used by Some Farmers, Stalling Planting
▼ + stars: | 2024-05-13 | by ( Livia Albeck-Ripka | ) www.nytimes.com time to read: +1 min

The powerful geomagnetic storm that cast the northern lights’ vivid colors across the Northern Hemisphere over the weekend also caused some navigational systems in tractors and other farming equipment to break down at the height of planting season, suppliers and farmers said. Many farmers have come to rely on the equipment, which uses GPS and other navigational technology and helps them to plant more efficiently and precisely by keeping rows straight and avoiding gaps or overlap. In Minnesota, some farmers who had planned to spend Friday night sowing seeds were hamstrung by the outages. “I’ve never dealt with anything like this,” said Patrick O’Connor, the owner of a farm about 80 miles south of Minneapolis that mainly grows corn and soybean. Mr. O'Connor said that after being rained out for two weeks, he got into his tractor around 5 p.m., hoping to spend the night planting corn.

Persons: I’ve, ”, Patrick O’Connor, O'Connor Organizations: Northern Hemisphere Locations: United States, Canada, Minnesota, Minneapolis

A number of private equity firms have been considering a buyout of Peloton as the connected fitness company looks to refinance its debt and get back to growth after 13 straight quarters of losses, CNBC has learned. A number of other private equity firms have been circling Peloton as an acquisition target, but it's unclear if they have held formal discussions. Last week, Peloton announced a broad restructuring plan that's expected to reduce its annual run-rate expenses by more than $200 million by the end of fiscal 2025. Last week, Peloton announced CEO Barry McCarthy would be stepping down as it issued a disastrous earnings report that missed Wall Street's expectations. One source close to the company said Peloton isn't expected to have any issues refinancing its debt.

Persons: Barry McCarthy, Goldman Sachs Organizations: Interactive, CNBC, JPMorgan Locations: New York

☆ Boeing reports quarterly results before the bell. Here's what Wall Street expects
▼ + stars: | 2024-04-24 | by ( Leslie Josephs | ) www.cnbc.com time to read: +1 min

An aerial photo shows Boeing 737 Max airplanes parked on the tarmac at the Boeing Factory in Renton, Washington, on March 21, 2019. Here is what Wall Street expects for Boeing for the period that ended March 31, according to estimates from LSEG:Loss per share: $1.76 adjusted$1.76 adjusted Revenue: $16.23 billionBoeing has been hamstrung in ramping up production, especially of its best-selling 737 Max planes. After the door plug blew out on the Alaska Airlines Max 9 on Jan. 5, the Federal Aviation Administration has barred Boeing from increasing output. Questions abound for Boeing's lame duck CEO Dave Calhoun, who announced in March that he would step down by year-end. Among those questions: When will Boeing stabilize its production line and increase production of the 737 Max and other planes?

Persons: Dave Calhoun, Max Organizations: Boeing, Max, Boeing Factory, Alaska Airlines Max, Federal Aviation Administration, FAA Locations: Renton , Washington

☆ Short on rockets, Ukraine has had to get 'more selective' with its HIMARS attacks, soldier says
▼ + stars: | 2024-04-17 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +7 min

He said his unit had good support from HIMARS — a long-range, high-precision rocket launcher that can hit targets 50 miles away — but its effectiveness was degraded as rockets ran low. AdvertisementUkrainian soldiers watch a rocket fire from a HIMARS launcher in May 2023 in Donetsk Oblast, Ukraine. AdvertisementCongress approved $300 million for Ukraine last month, which would have included HIMARS rockets. M142 HIMARS launches a rocket on Russian position on December 29, 2023 in Unspecified, Ukraine. "Support Ukraine, help us win this war."

Persons: —, Jonathan Poquette, it's, Serhii Mykhalchuk, Poquette, we're, Diego Herrera Carcedo, we'd, Christopher G Organizations: Service, Business, Artillery Rocket Systems, Company, Ukraine's 59th Motorized Brigade, Ukraine, Getty, Republicans, Hudson Institute, US European Command, NATO's, US Locations: Ukraine, Ukraine's, Donetsk Oblast, Ukrainian, Russia, Donetsk, US, Kyiv, Bakhmut, Anadolu

☆ Ukraine must win back the battlefield initiative to have a chance to stop Russia
▼ + stars: | 2024-04-13 | by ( Michael Peck | ) www.businessinsider.com time to read: +7 min

Victory in the Ukraine war may come down to a simple question: which side has the initiative? If Russia can retain the initiative, it can launch constant offensives with its larger forces that will drive Ukrainian defenders to the breaking point. For Ukraine, gaining the initiative has become existential: it has to keep Russia off balance, or its forces will be worn down responding to Russian offensives. Ukraine simply cannot afford to go on the defensive and expect this will stop Russia, Barros said. To seize the initiative, Ukraine needs to know that it will receive a steady and reliable stream of Western aid, rather than sporadic deliveries.

Persons: We've, George Barros, Napoleon, Barros, they're, Michael Peck Organizations: Service, Ukraine, U.S, Staff, NATO, British Challenger, Ukrainian, Defense, Foreign Policy, Rutgers Univ, Twitter, LinkedIn Locations: Ukraine, Russia, Europe, Israel, Russian, Nazi Germany, Soviet, Ukrainian, Forbes

☆ Mexican drug gangs ‘increasingly targeting’ Australia as meth supplies overtake rivals, police say
▼ + stars: | 2024-04-11 | by ( Chris Lau | ) edition.cnn.com time to read: +4 min

CNN —Drug cartels from North America have overtaken rivals in Southeast Asia to become Australia’s top suppliers of methamphetamine, police said, warning that Mexican gangs are “increasingly targeting” the country. Meanwhile, Southeast Asian meth fell to less than 15% of seizures of the drug, a highly addictive and potent stimulant. A wastewater detection program led by the Australian Criminal Intelligence Commission projected meth to be Australia’s second most used drug. In 2022, authorities stopped 1.8 tons of liquid meth masquerading as coconut water in Hong Kong before it reached Australia. They were bound for New Zealand, Australia and the surrounding Pacific region, police said.

Persons: Jared Taggart, Taggart, ”, Sam Gor, Terry Goldsworthy, Criminologist John Fitzgerald, Masood Karimipour Organizations: CNN —, Australian Federal Police, Police, ”, Australian Institute of Health, Welfare, Australian Criminal Intelligence, AFP, Bond University, Australian Capital Territory, University of Melbourne, Drugs, New Zealand police, Southeast, Pacific, United Nations Office Locations: North America, Southeast Asia, Australia, AFP, Mexico, United States, Canada, ” Australia, Thailand, Laos, Myanmar, Japan , New Zealand, Hong Kong, Asia, Pacific, Queensland, American, Europe, Ukraine, New Zealand

☆ South Korea midterms: Opposition wins landslide parliamentary vote in resounding blow to Yoon
▼ + stars: | 2024-04-10 | by ( Heather Chen | Story Reuters | ) edition.cnn.com time to read: +3 min

Seoul, South Korea CNN —South Korea’s liberal opposition parties scored a landslide victory in a parliamentary election held on Wednesday, dealing a resounding blow to President Yoon Suk Yeol and his conservative party but likely falling just short of a super majority. A splinter liberal party considered allied with the DP was expected to take at least 10 seats, projections showed. It marked the highest ever turnout for a parliamentary election, though the numbers were down from the 2022 presidential vote that narrowly brought Yoon to power. Lee Jae-myung, leader of the Democratic Party, watches election results at his district office in Incheon, South Korea, on Thursday, April 11, 2024. “Given his likely lame duck status, the temptation for Yoon will be to focus on foreign policy where he will still have statutory power,” Richey said.

Persons: Yoon Suk Yeol, Yoon Suk, Lee Jae, myung, Lee, Yoon, ”, Kim Keon Hee, SeongJoon Cho, Mason Richey, “, ” Richey Organizations: South Korea CNN, South, Democratic Party, National Election Commission, Dior, People Power Party, Election Commission, NEC, Bloomberg, Getty, Hankuk University of Foreign Studies Locations: Seoul, South Korea, Incheon

☆ Russia's economy is now so isolated that it has few options other than the Chinese yuan for its reserves
▼ + stars: | 2024-04-01 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Russia's central bank says it has few alternatives other than the Chinese yuan as a key reserve asset. "These factors predetermine the key role of the Chinese yuan in the formation of reserve assets," it said. AdvertisementA state of increasing isolationRussia's increasing reliance on the yuan shows its economy is becoming increasingly isolated in the international trade and finance system. Moscow's reliance on the Chinese yuan comes with risks. Russian companies that borrow in the Chinese yuan are facing increased lending costs, Bloomberg reported last month.

Persons: —, Vladimir Putin, SWIFT Organizations: Service, Central Bank of Russia, Bloomberg Locations: Russia, Russian, Ukraine, India, China, Moscow, EU

☆ Fintech ValidMind aims to ease Wall Street's AI risk management headaches. Here's the pitch deck it used to raise $8 million in a round led by Point72 Ventures.
▼ + stars: | 2024-03-28 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Wall Street firms know the pains of having to satisfy regulators, and with advancements in artificial intelligence, there's a whole new level of scrutiny and complexity. It involves quality-and-assurance teams who test, verify, validate, and challenge the AI models before they go into production and report issues back to the engineering team to fix. In some cases, banks' technology teams are spending at least half their time documenting models for compliance, Jonas Jacobi, cofounder of fintech startup ValidMind, told Business Insider. AI models are often compared to a "black box" because it can be difficult to understand their decision-making or how the models arrive at their results. With the new injection of capital, ValidMind will build more features, like one aimed at automating the risk management of third-party vendor solutions.

Persons: Banks, Jonas Jacobi, Jacobi, ValidMind, Steve Cohen's, Mehdi Esmail, Andres Rodriguez Organizations: Business, Point72 Ventures, American Express, Third Prime Ventures, York Life, Jacobi, Technologists Locations: Palo Alto, Calif, Wall, ValidMind

☆ Ukraine is in a race to stop Russia's mounting glide-bomb attacks
▼ + stars: | 2024-03-27 | by ( Jake Epstein | ) www.businessinsider.com time to read: +11 min

Short flight times, small radar signatures, and non-ballistic trajectories make glide bombs particularly difficult to intercept as well. "When the Ukrainian air-defense bandwidth is all tied up, they then move in with the fixed-wing aircraft to conduct these glide-bomb attacks," he said. This includes the 1,100-pound FAB-500, 3,300-pound FAB-1500, and 6,600-pound FAB-3000 bombs — all of which can be modified and turned into glide bombs. "That makes the mission planning for attacks with standoff weapons that can hit fixed targets, like the glide bombs, quite practical," he explained. And it won't be entirely the fault of glide bombs — Kyiv needs all the tools its forces can get right now.

Persons: —, George Barros, Scott Peterson, they've, Alexander Ermochenko, Barros, Assad, Ivan Gavrylyuk, Justin Bronk, Su, ALEXANDER NEMENOV, Bronk, Volodymyr Zelenskyy, Alina Smutko, Ukraine doesn't Organizations: Service, Business, Institute for, REUTERS, Ukrainian, Ukrainian Armed Forces General Staff, Handout, Royal United Services Institute, Victory Day, Getty, Archer Artillery, Roman, Getty Images, Patriot, Infantry Brigade, Armed Forces Locations: Russia, Moscow, Ukraine, Russian, Petropavlivka, Avdiivka, Ukraine's Donetsk, Ukrainian, Kharkiv, AFP, Donetsk

☆ Fed officials are now considering fewer rate cuts this year
▼ + stars: | 2024-03-26 | by ( Elisabeth Buchwald | Bryan Mena | ) edition.cnn.com time to read: +7 min

That’s because some Federal Reserve officials are reconsidering forecasts they made three months ago that called for three rate cuts this year. The stakes are high because there are consequences if the Fed cuts rates soon or if it leaves rates where they’ve been for the past eight months. First rate cut hinges on inflation dataIn February, Bostic told CNN that the first rate cut could come “sometime in the summertime.” That’s also Wall Street’s current expectation. He hasn’t specified — and is unlikely to signal — the number of rate cuts he believes are appropriate for this year. He has cheered inflation’s descent and said further improvement could open the door to rate cuts — if that actually bears out.

Persons: they’ve, Raphael Bostic, ” Bostic, Bostic, That’s, Powell hasn’t, Price, Nam, ” David Page, Powell, Rather, Jerome Powell, Chip Somodevilla, Lisa Cook, Austan Goolsbee, ”, we’ve, we’re, Goolsbee, Christopher Waller Organizations: CNN, Federal Reserve, Atlanta Fed, Index, AXA, Federal, ”, Harvard University, Chicago, Yahoo Finance, Fed, San Francisco Fed Locations: New York

☆ Satellite photos appear to show that North Korea has paused supplying artillery shells to Russia, reports say
▼ + stars: | 2024-03-03 | by ( Cameron Manley | ) www.businessinsider.com time to read: +2 min

Russian ships transporting North Korean shells to Russia may have paused, analysts say. It is believed that North Korea has sent up to three million shells to Russia. Russia has become increasingly reliant on North Korea and China for economic and military support. AdvertisementRussian ships suspected of transporting huge quantities of ammunition and weaponry to Russia have not docked in North Korea since February 12, analysts at the North Korea-focused outlet NK Pro say. Meanwhile, Ukrainian soldiers have been hamstrung by ammunition shortages on the battlefield in recent months.

Persons: —, R, Maia, Maria —, Russia's, Shin Organizations: Service, NK Pro, Business Locations: Russia, Korea, North Korea, China, Ukraine, Moscow

☆ Morgan Stanley shares a 5-part playbook for investing in well-run companies while minimizing risk in a top-heavy market
▼ + stars: | 2024-02-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Why rich companies also keep getting richerThere's another major disconnect that the broader market's impressive performance is masking, strategists at Morgan Stanley remarked in a recent note. Since then, the return gap has gotten even worse in a historically narrow market, Wilson wrote. Morgan Stanley"The equity market understands this economy is not that great for the average company or consumer," Wilson wrote. This rare combination of expansionary fiscal policy and restrictive monetary policy has had the unintended consequence of "crowding out the private economy," Wilson wrote. Companies that can grow without borrowing money at unattractive rates are at a huge advantage, which Morgan Stanley believes has fueled their immense success lately.

Persons: Goldman Sachs, Morgan Stanley, Mike Wilson, Wilson, Morgan, it's, Morgan Stanley Morgan Stanley, Morgan Stanley's Organizations: Federal Reserve, Business, Pew Research Center Locations: GoDaddy

☆ How this cult Japanese artist’s eerie paintings foretold our digital malaise
▼ + stars: | 2024-02-21 | by ( Christy Choi | ) edition.cnn.com time to read: +10 min

CNN —In the land of Hello Kitty, kawaii (“cute”) culture and the Neo-Pop art of 1990s Japan, Tetsuya Ishida was an outlier. An untitled 2004 acrylic and oil painting by late Japanese artist Tetsuya Ishida from the Gagosian retrospective "My Anxious Self." Ishida, who had gone to art school, worked part-time at a print shop and as a night security guard. Many of the 200 or so paintings Ishida completed in his lifetime portray the gloom of becoming a cog in the economic machine. Another painting entitled "Gripe," painted by Ishidia in 1996, portrays a Japanese salaryman with lobster claws for hands.

Persons: kawaii, Tetsuya Ishida, wasn’t, Japan’s “, Gripe, ”, Gulliver, Tetsuya Ishida's, Gagosian, ” Nick Simunovic, “, ” Gagosian, Simunovic, Ishida, ” Simunovic, Gagosian Ishida, Jacky Ho, ‪, Martin Wong, Ishidia, Cecilia Alemani, ” Ishida, Robert McKeever, Tamaki Saito, didn’t, Sharp, Japan's, claustrophobia, Takashi Murakami, Yoshimoto Nara, ” Alemani, Alemani Organizations: CNN, Asia, Art, San Francisco Asian Art Museum, Venice Biennale, Hong Kong, Christie’s Asia, Japan Inc, dehumanization, Gagosian's, Sony Locations: Japan, Japanese, Japan’s, Gagosian, New York, Venice, Sotheby’s, Christie’s, Tokyo, , York

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

☆ Short on ammo, Ukrainian artillerymen can't fire on a hunch anymore. They have to know the Russians are there.
▼ + stars: | 2024-02-03 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementUkraine's increasing ammunition struggles have hamstrung its war effort, forcing the country to sacrifice long-term strategy for short-term certainty. Russia has maintained an advantage in artillery ammunition since the war began nearly two years ago. That advantage has only increased in recent months as Ukraine struggles to gain an edge against Russia's growing momentum. Much of the focus on ammunition for both Russia and Ukraine comes from old Soviet war doctrine, which is artillery-centric, Miles said.

Persons: —, Mark Cancian, Cancian, Simon Miles, they're, Miles Organizations: Service, for Strategic, International, Business, Duke University's Sanford School of Public, Soviet Union Locations: Russia, Ukraine, North, Washington, DC, Soviet

☆ Ukraine’s army chief: The design of war has changed
▼ + stars: | 2024-02-01 | by ( Opinion Valerii Zaluzhnyi | ) edition.cnn.com time to read: +7 min

Editor’s Note: Valerii Zaluzhnyi has been Commander-in-Chief of the Armed Forces of Ukraine since 2021. It is well known by now that a central driver of this war is the development of unmanned weapons systems. The challenge for our armed forces cannot be underestimated. Join us on Twitter and FacebookCreating a system to provide our armed forces with high-tech assets. And mastering new combat capabilities as soon as possible.

Persons: Zaluzhnyi, Read, Valerii Zaluzhnyi Organizations: Armed Forces of, CNN, Twitter, Facebook Locations: Armed Forces of Ukraine, Ukraine, Russia

☆ Europe narrowly avoids a recession
▼ + stars: | 2024-01-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Europe’s economy avoided ending 2023 in a recession by the narrowest of margins, official data showed Tuesday. In the July-to-September quarter, GDP dipped 0.1%. Europe’s economy has struggled to regain momentum following the pandemic, hamstrung by high inflation and rapid interest rate hikes to combat it. The French economy, Europe’s second-largest, stagnated in the fourth quarter but grew 0.7% over the whole of 2023. He expects the eurozone economy to “flatline” in the first half of 2024 “as the effects of past monetary tightening continue to feed through and fiscal policy becomes more restrictive.”

Persons: —, Russia’s, ‘, Christoph Weil, ”, ” “, Jack Allen, Reynolds, “ Organizations: London CNN, Gross, Eurostat, Union, EU, ’, Commerzbank, European Central Bank, Capital Economics, ECB Locations: Ukraine, Europe, Italy, Spain

☆ Ukraine looks to be losing the 'battle for ammunition,' and its forces are being massively outshot by the Russians
▼ + stars: | 2024-01-24 | by ( Jake Epstein | ) www.businessinsider.com time to read: +6 min

Read previewNearly two years into Russia's war against Ukraine, and it appears to have the upper hand in a key fight: the ammunition battle. Ultimately, Ukraine's "ammunition challenge is rooted in increasing defense production," Wallander told reporters Tuesday. "Russia's war in Ukraine has become a battle for ammunition, so it is important that Allies refill their own stocks, as we continue to support Ukraine." AdvertisementEfforts to boost ammunition production are not just limited to NATO, either. "We also discussed the launch of new production lines for weapons and ammunition in Ukraine — at our enterprises and together with partners," he said.

Persons: —, Celeste Wallander, Dmytro Smolienko, Wallander, Archer, Jens Stoltenberg, Ukraine's, NATO's, Stoltenberg, Libkos, ISW, Volodymyr Zelenskyy, Biden, ROMAN PILIPEY, Pat Ryder Organizations: Service, Ukraine, Business, Armed Forces, American, Publishing, Getty, The New York Times, NATO, Tuesday, Russia, Institute for, Assault Brigade, European Union, 45th Artillery Brigade, Getty Images Pentagon, Pentagon Locations: Ukraine, Russia, Moscow, Donetsk Oblast, NATO, Bakhmut District, Donetsk Region, Kyiv, Donetsk, AFP, Washington

☆ Republicans worry that turmoil plaguing state parties could hurt GOP up and down the ballot in 2024
▼ + stars: | 2024-01-20 | by ( Daniel Strauss | ) edition.cnn.com time to read: +11 min

“I think it’s going to be a problem,” said Oscar Brock, a member of the Republican National Committee from Tennessee. And the state parties rely on the RNC and we ship them the data. Kemp has used his, the Georgians First Leadership Committee, as a political fundraising vehicle operating outside of the usual channels of the state Republican party. State parties play a key role in activating voters, organizing door knocking efforts and corralling donors. In the past, Barbour stressed, candidates could leave a fair share of the phone calls and door knocking to the state parties.

Persons: hamstrung, “, ”, Oscar Brock, –, Brian Kemp, Donald Trump, Ron Kaufman, ” Kaufman, Christian Ziegler, Kristina Karamo, Evan Power, Karamo, Jeff DeWit, DeWit, Ronna McDaniel, Kemp, Trump, We’ve, It’s, ” Jason Shepherd, can’t, you’re, Henry Barbour, Barbour, ” Barbour, that’s, Joe Biden we’re Organizations: CNN, Republican, Republican Party, Republican National Committee, Republicans, Georgia Gov, Prosperity, RNC, Florida Republicans, Florida Republican, Republican Party of Florida, Florida Party, Michigan Republican Party, Clark County School District, Clark County Republican Party, Nevada Republican Party, Republican National, Arizona Republican, An, An Arizona Republican, Georgia Republican, MAGA, GOP, Georgia Republicans, Leadership, Democratic Party, Cobb County Republican Party, Democrat, – Locations: Michigan, Florida, Arizona, Georgia, Nevada, Tennessee, Wisconsin, Massachusetts, Clark, Las Vegas, Trump, Maricopa County, An Arizona, Georgians, Cobb County, Mississippi, “

☆ Davos: A mountain of debt and a wave of elections. World leaders are hamstrung
▼ + stars: | 2024-01-14 | by ( Hanna Ziady | ) edition.cnn.com time to read: +7 min

London CNN —World leaders are flocking to Davos this week to pontificate on the planet’s most pressing problems. Even in the absence of a new crisis, soaring debt servicing costs will constrain efforts to tackle climate change and care for aging populations. Mortgage rates and other borrowing costs soared as investors demanded much higher premiums for owning UK debt. Mounting debt and political brinksmanship have already taken their toll on America’s credit rating, which typically affects borrowing costs for the government, businesses and households. And that would increase the government’s borrowing costs.

Persons: worryingly, Michael Saunders, ”, Saunders, that’s, Liz Truss, Dave Ramsden, Fitch, Moody’s, Raghuram Rajan, “ It’s, ” Rajan, Anna Cooban Organizations: London CNN —, Bank, CNN, Oxford Economics, Bank of England, AAA, States ’, Reserve Bank of India, Labour Party, Treasury Department, Federal, University of Chicago Booth School of Business Locations: Davos, Kingdom, Argentina, States, United States, Switzerland

☆ Op-ed: Europe is leaving a void in a multipolar world
▼ + stars: | 2023-11-30 | by ( Kevin Klowden | Chief Global Strategist At The Milken Institute | ) www.cnbc.com time to read: +5 min

The Russian invasion of Ukraine only three months later served to provide an immediate driver for greater political unity within Europe. China, Russia and even the United States under Donald Trump have expressed dissatisfaction with institutions such as the World Trade Organization, the G7 and the United Nations. watch nowThe void is particularly apparent at the WTO, where the lack of European leadership on trade as the U.S. turned inward is particularly felt. Perhaps nothing shows the consequences of the lack of European strength in preserving these institutions than the Russian invasion of Ukraine. However, the combination of a split over Ukraine, and internal divisions within Europe, have prevented any way for Europe to play a key role with China.

Persons: Emmanuel Macron, Ursula von der Leyenââ, Pedro Sanchez Perez, Klaus Iohannis, Chancellor, Germany, Olaf Scholz, Charles Michel, Dursun, Angela Merkel, Donald Trump, Vladimir Putin, Merkel, Ursula von der Leyen, Xi Jinping Organizations: European Commission, European, European Union, Anadolu Agency, Getty, World Trade Organization, United Nations, WTO, EU, NATO, APEC Locations: Spain, Romania, Brussels, Belgium, United States, China, Europe, Russia, Ukraine, Israel, U.S, Germany, Moscow, India, Southeast Asia, EU, East, Africa

☆ Zambia debt rework delaying impede key investments, hitting the 'most vulnerable' - FinMin
▼ + stars: | 2023-11-24 | by ( Karin Strohecker | ) www.reuters.com time to read: +3 min

Zambia's Finance Minister Situmbeko Musokotwane takes part in a panel during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 14, 2023. Zambia defaulted three years ago and is trying to rework its debt under the G20 Common Framework, a programme designed to ensure swift and smooth debt overhauls for low-income nations. The first African country to default in the COVID-19 era, Zambia's debt restructuring had started with drawn-out negotiations with bilateral creditors including China. "Zambia’s debt restructuring has dragged on too long," Musokotwane said in emailed comments. Musokotwane said the country had implemented some serious reforms and committed to improving management of government finances and boosting growth.

Persons: Situmbeko Musokotwane, Susana Vera, Musokotwane, Karin Strohecker, Rachel Savage, Kim Coghill Organizations: Zambia's, International Monetary Fund, World Bank, REUTERS, Finance, Reuters, Thomson Locations: Marrakech, Morocco, Zambia, China

☆ Cuban ministers reveal details of food, fuel shortages amid economic crisis
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +2 min

Minister after minister have delivered the bad news as the import-dependent Communist-run country weathers a fourth year of crisis, scraping by with a minimum of foreign exchange as output plummets. Food production, the supply of phamaceuticals and transportation are down by at least 50% since 2018, the top officials said, and continued to decline this year in large part due to chronic fuel shortages and power outages. "The ministers provided new information revealing just how serious the crisis is and that growth this year is very doubtful," Cuban economist Omar Everleny said. Public transportation, vital in a country where few have vehicles, has also been hobbled by fuel shortages and difficulties in obtaining spare parts. If before the collapse of former benefactor the Soviet Union "there were 2,500 buses operating in Havana ... today there are just 300 compared with 600 four years ago," Transportation Minister Eduardo Rodríguez Davila said.

Persons: weathers, Omar Everleny, Ydael Jesus Perez, Tania Margarita Cruz, Eduardo Rodríguez Davila, Marc Frank, Sandra Maler Organizations: Senior Cuban, Agriculture, Industry, Thomson Locations: Cuba, Caribbean, Cuban, Soviet Union, Havana .

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