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☆ Now It’s Germany’s Turn to Frustrate Allies Over Ukraine
▼ + stars: | 2024-03-04 | by ( David E. Sanger | Christopher F. Schuetze | ) www.nytimes.com time to read: +1 min

First it was France’s president, Emmanuel Macron, who angered his NATO allies by suggesting that soon the West could be forced to send troops to Ukraine, portending a direct confrontation with Russian forces that the rest of the alliance has long rejected. Then Chancellor Olaf Scholz of Germany took his own turn exposing new divisions. Trying to justify why Germany was withholding its most powerful missile, the Taurus, from Ukrainian hands, he hinted that Britain, France and the United States may secretly be helping Ukraine target similar weapons, a step he said Germany simply could not take. While neither Britain or France has commented officially — they almost never discuss how their weapons are deployed — Mr. Scholz was immediately accused by former officials of revealing war secrets. “Scholz’s behavior has showed that as far as the security of Europe goes he is the wrong man in the wrong job at the wrong time,” Ben Wallace, Britain’s former defense minister, told The Evening Standard, a London daily.

Persons: Emmanuel Macron, portending, Olaf Scholz, Germany, Scholz, ” Ben Wallace, Tobias Ellwood, Vladimir V, Putin Organizations: NATO, Russian, Conservative Locations: Ukraine, Germany, Britain, France, United States, Europe, London, Washington

☆ Brazil Has a Dengue Emergency, Portending a Health Crisis for the Americas
▼ + stars: | 2024-02-10 | by ( Stephanie Nolen | ) www.nytimes.com time to read: +1 min

Brazil is experiencing an enormous outbreak of dengue fever, the sometimes fatal mosquito-borne disease, and public health experts say it is a harbinger of a coming surge in cases in the Americas, including Puerto Rico. Brazil’s Health Ministry warns that it expects more than 4.2 million cases this year, outstripping the 4.1 million cases the Pan-American Health Organization recorded for all 42 countries in the region last year. Brazil was due for a bad dengue year — numbers of cases of the virus typically rise and fall on a roughly four-year cycle — but experts say a number of factors, including El Niño and climate change, have significantly amplified the problem this year. “The record heat in the country and the above-average rainfall since last year, even before the summer, have increased the number of mosquito breeding sites in Brazil, even in regions that had few cases of the disease,” Brazil’s health minister, Nísia Trindade, said.

Persons: El, “, Nísia Trindade Organizations: Brazil’s, Ministry, American Health Organization Locations: Brazil, Americas, Puerto Rico

☆ American Borrowers Are Getting Closer to Maxing Out
▼ + stars: | 2023-11-25 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

Some people are starting to consume more of their available credit from month to month. Photo: Angus Mordant/Bloomberg NewsA happy holiday shopping season might not end up being an especially cheery time for lenders. The trend suggests that consumers still are willing and able to use their cards, portending well for retailers. U.S. retail sales slowed in October, but by less than feared, and were still at an overall solid level. Some retail stocks have jumped recently on hopes for holiday shopping.

Persons: Angus Mordant, Goldman Sachs Organizations: Bloomberg, U.S

☆ Why Exxon and Chevron are doubling down on fossil fuel energy with big acquisitions
▼ + stars: | 2023-10-25 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +6 min

The largest oil and gas producers in the United States see a long pathway for oil demand," Cahill told CNBC. "There's a major difference between what the big oil companies believe the future of oil is and the governments around the world." "The large companies — nongovernment companies — do not see an end to oil demand any time in the near future. Oil and gas are relatively cheap and easy to move around, particularly in comparison with building new clean energy infrastructure. "By the way, that means the large financial oil companies will be able to weather that environment better than the smaller companies."

Persons: Cahill, Ben Cahill, Goldstein, Larry J, Birol, Fatih Birol, Shon Hiatt, Hiatt, Marianne Kah, Kah, Amy Myers Jaffe, Jaffe Organizations: CNBC, Center for Strategic, International Studies, Petroleum Industry Research Foundation, Energy, Research Foundation, Chevron, Exxon, International Energy Agency, IEA, USC Marshall School of Business ., Columbia University's Center, Global Energy, ConocoPhillips, New York University, Climate Justice, Sustainability, NYU's School, Professional Studies, Exxon Mobil Locations: United States, Africa, Asia, America, U.S, Russia, Venezuela, Iran

☆ André Bishop to Step Down After Three Decades Running Lincoln Center Theater
▼ + stars: | 2023-09-22 | by ( Michael Paulson | More About Michael Paulson | ) www.nytimes.com time to read: +2 min

On Wednesday, Carole Rothman, the president and artistic director of Second Stage Theater, said that after 45 years she would be leaving that institution, which she co-founded; Second Stage operates the Helen Hayes Theater on Broadway. And Roundabout Theater Company currently has an interim artistic director following the death in April of Todd Haimes, who led that organization for four decades; Roundabout operates three Broadway houses, including the American Airlines, the Stephen Sondheim and Studio 54. Lincoln Center Theater, which is a resident organization at Lincoln Center for the Performing Arts, has three stages of varying sizes, and has produced a wide variety of work. The company currently has an annual budget of $34.5 million and 55 full-time employees; Bishop received $783,191 in total compensation during fiscal 2022, according to an I.R.S. Lincoln Center Theater’s other Tony-winning productions during Bishop’s tenure include “Carousel,” “The Heiress,” “A Delicate Balance,” “Contact,” “Henry IV,” “Awake and Sing,” “South Pacific,” “War Horse,” “The King and I” and “Oslo.”

Persons: Carole Rothman, Helen Hayes, Todd Haimes, Stephen Sondheim, Bishop, Vivian Beaumont, ”, Tom Stoppard’s, Tony, ” “ Henry IV Organizations: Broadway, Nonprofit, Lincoln Center, Helen Hayes Theater, Roundabout Theater Company, American Airlines, Lincoln Center Theater, Performing Arts, Vivian Beaumont Theater, Radio City Music Hall, Metropolitan Opera Locations: New York, Utopia, “ Oslo

Results from Google-owner Alphabet (GOOGL.O) and Microsoft (MSFT.O), due after the bell, will be a test for their hefty valuations. "Nonetheless, while we expect the summer rally to continue, investor exuberance is likely to lessen in the near-term, portending a less vigorous rally." ET, Dow e-minis were up 11 points, or 0.03%, S&P 500 e-minis were up 4 points, or 0.09%, and Nasdaq 100 e-minis were up 39.5 points, or 0.25%. 3M Co (MMM.N) rose 2.2% after the industrial conglomerate raised its annual adjusted profit forecast. ET is consumer confidence data that is expected to rise to 111.8 in July from 109.7 in June.

Persons: Peter Cardillo, Rivals Tesla, Bansari Mayur Kamdar, Johann M, Shinjini Ganguli, Shounak Organizations: Dow, Nasdaq, Google, Microsoft, Spartan, outsized, U.S, Dow e, General Electric, General Motors, Rivals, Ford, 3M, Thomson Locations: U.S . Federal, Chevron, China, Bengaluru

☆ Morning Bid: Not so fast, debt ceiling bulls!
▼ + stars: | 2023-05-22 | by ( ) www.reuters.com time to read: +2 min

A look at the day ahead in European and global markets from Kevin BucklandYou didn't think it would be that easy, did you? Investors are on edge after equities and the dollar got knocked back Friday, when Republican negotiators unexpectedly walked out of debt ceiling talks. Discussions now seem to be back on track, with President Joe Biden due to meet House Republican Speaker Kevin McCarthy later today. Another potential boost comes from the PBOC's assessment that the fundamentals of China's economic stability and long-term improvement have not changed. Luis de Guindos and Philip Lane are among Lagarde's ECB colleagues on speaking duty today.

Why did other bidders, such as Bank of America, drop out of the auction? And will short-sellers who had taken aim at First Republic move on to shares of other regional lenders? Mr. Munger, 99, also said investors should expect far lower returns on their money than in the past. Francis added that he was doing “all that is humanly possible” to return children taken from Ukraine to Russia. Writers have pushed for economic concessions from studios that factor in changes wrought by the rise of streaming

☆ How Fred Smith's crown jewel, FedEx Express, became the company's problem child — and how FedEx can save it
▼ + stars: | 2023-03-30 | by ( Emma Cosgrove | ) www.businessinsider.com time to read: +6 min

FedEx Express, which does precisely-timed deliveries , has been struggling the most. FedEx is at a critical point in its 52-year evolution and founder Fred Smith's pride and joy — the company's Express delivery service — has become the firm's problem child. "Can FedEx Express shrink itself to prosperity?" "For a very long time, over 10 years, improved Ground service is diluting or cannibalizing existing Express deliveries," Maciuba said. "Was there a tremendous amount of fat in FedEx Express?

DEBT STRESSTreasury bond quotas could be increased, so that some of them could be transferred to local governments to ease their fiscal stress, said Luo Zhiheng, chief macroeconomic analyst at Yuekai Securities. Combined with some maturing debts of local government financing vehicles (LGFVs) - investment companies that build infrastructure projects - this year and the next will be most stressful for local governments, he said. According to financial media outlet Yicai, local governments' revenue from fines and confiscations jumped 10.4% in January-July year-on-year. The fiscal stress is cutting into some households' income, a red flag for consumption and broader growth. As there is no way out, they have had to ask the local government fiscal department for money."

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