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New Zealand Plans to Make Facebook, Google Pay for News
  + stars: | 2022-12-05 | by ( Mike Cherney | )   time to read: 1 min
New Zealand has proposed a law that would seek to make online platforms pay news publishers for content. New Zealand said it would seek to require online platforms like Alphabet Inc.’s Google and Facebook owner Meta Platforms Inc. to pay news publishers for content, becoming the latest country to wade into a worldwide debate about whether tech giants unfairly benefit from news shared on their platforms. New Zealand’s proposal will be based on a similar law in Australia and introduced legislation in Canada and will be designed to act as an incentive for digital platforms to reach voluntary deals with local news outlets, according to a statement from New Zealand Broadcasting Minister Willie Jackson.
Morning bid: Capped
  + stars: | 2022-12-05 | by ( )   time to read: +1 min
A look at the day ahead in European and global markets from Tom Westbrook:The Fed is in blackout and the World Cup is starting to get serious. Positioning suggests bets against the dollar remain pretty light, and even lightened a little bit last week. Monday in Europe also marks the beginning of the G7's $60-a-barrel price cap on Russian oil. It's not clear what that means for oil supply and prices, because Russia says it won't abide by the measure, even if that means cutting production. On the pitch, Asia's last contenders, Japan and South Korea, take on Croatia and Brazil, respectively.
The price cap, to be enforced by the G7, the European Union and Australia, comes on top of the EU's embargo on imports of Russian crude by sea and similar pledges by the United States, Canada, Japan and Britain. It allows Russian oil to be shipped to third-party countries using G7 and EU tankers, insurance companies and credit institutions, only if the cargo is bought at or below the price cap. Because the world's key shipping and insurance firms are based in G7 countries, the cap could make it difficult for Moscow to sell its oil for a higher price. Russia, the world's second-largest oil exporter, said on Sunday it would not accept the cap and would not sell oil that is subject to it, even if it has to cut production. In essence, such a decree would ban the export of oil and petroleum products to countries and companies that apply it.
Billionaire Ken Griffin treated Citadel employees and their families to a weekend at Disney World. The 20th-anniversary event for Citadel Securities is one of many lavish events for the firm. This weekend, founder Ken Griffin treated Citadel and Citadel Securities' employees and their partners and children to an all-inclusive weekend in Disney World. The Disney World extravaganza was the 20th-anniversary celebration of market maker and trading firm Citadel Securities, and a belated event for hedge fund Citadel's 30th anniversary, which was in 2020. Citadel employees and families gathered at the Orange County Convention Center in Orlando, Florida on Saturday night for a party that featured a concert headlined by Coldplay.
The nickel market is also structured very differently than the market for crude oil, with private firms rather than national companies running the show. The country now accounts for more than 38% of global refined nickel supply, according to data from market intelligence firm CRU Group. People who track the nickel market are skeptical such an arrangement is workable. But other countries that have direct access to battery metals and other important minerals also want a say. “The metals market and its importance to the energy transition is something we’re all waking up to and adapting to how it’s going to work in practice,” Bronze said.
Asia shares pin hopes on China opening, oil rallies
  + stars: | 2022-12-05 | by ( Wayne Cole | )   time to read: +4 min
The news helped oil prices firm as OPEC+ nations reaffirmed their output targets ahead of a European Union ban and price caps on Russian crude, which kick off on Monday. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) added 0.2%, after rallying 3.7% last week to a three-month top. Markets are wagering Fed rates will top out at 5% and the European Central Bank around 2.5%. read moreCentral banks in Australia, Canada and India are all expected to raise their rates at meetings this week. Oil prices bounced after OPEC+ agreed to stick to its oil output targets at a meeting on Sunday.
U.K.-based consumer tech company Nothing is setting its sights on the U.S., with ambitions of taking on Apple's iPhone. The startup, the hardware venture of Carl Pei — co-founder of Chinese mobile phone maker OnePlus — is in early conversations with American carriers about launching a new smartphone in the U.S., Pei told CNBC, without naming any of the carriers. In July, Nothing launched Phone (1), a mid-range device with a design, price and specs similar to Apple's entry-level iPhone SE. "Now we are in discussions with some carriers in the U.S. to potentially launch a future product there," said the Chinese-Swedish entrepreneur. And if we launch our smartphones there, I'm sure we could obtain significant growth," he said.
Kanye West called Elon Musk a "genetic hybrid" on Instagram Sunday. The rapper posted a picture to Instagram on Sunday that said: "Am I the only one who thinks Elon could be half Chinese?" A post shared by Ye (@kanyewest)Musk responded to Ye's comments on Twitter and said: "I take that as a compliment!" Ye then reposted Musk's comments to Instagram in a picture and captioned it: "It was meant as a compliment my friend." Ye's Twitter account was suspended for the second time on Thursday, after Musk reinstated it in November.
That resulted in a corn net long of 191,631 futures and options contracts, a three-week high. Managed money net position in CBOT corn futures and optionsFunds covered gross shorts in both corn and soybeans through Nov. 29, though the addition of new longs was the more prominent feature. Open interest in corn futures and options was down 14% on the year as of Nov. 29, and for soybeans it was down 9%. Corn futures lost 3.5% in the last three sessions, on Friday hitting the most-active contract’s lowest levels since August before settling at $6.46-1/4 per bushel. CBOT soy product futures were up in the week through Nov. 29, soyoil to a larger degree at 2%.
Throughout the decades, I’d cling to winter wonderlands I saw on television and the feeling of my first Christmas at my Catholic school. It had everything I associated with Christmas, this holiday I’d quickly fallen in love with: community, friendship, love, belonging and the best songs ever written. These qualities felt wrong in my house but right in my American life. We don’t need all this stuff.”I thought the better I made Christmas, the more American I would feel. The next day, I released my family from the pressure of having to make the right holiday memories.
Madrid-based human rights campaigner Safeguard Defenders says it found evidence China was operating 48 additional police stations abroad since the group first revealed the existence of 54 such stations in September. When approached by CNN last month about Safeguard Defenders’ original allegations, China’s foreign affairs ministry said the overseas stations were staffed by volunteers. However, the organization’s latest report claims one police network it examined had hired 135 people for its first 21 stations. The organization also sourced a three-year contract for a worker hired at an overseas station in Stockholm. The NGO determines Italy has hosted 11 Chinese police stations, including in Venice and in Prato, near Florence.
Canada's central bank says that the economy needs to slow from overheated levels in order to ease inflation. The yield on the Canadian 10-year government bond has fallen nearly 100 basis points below the 2-year yield, marking the biggest inversion of Canada's yield curve in Refinitiv data going back to 1994 and deeper than the U.S. Treasury yield curve inversion. The depth of Canada's curve inversion is signaling a "bad recession" not a mild one, said David Rosenberg, chief economist & strategist at Rosenberg Research. Still, 3-month measures of underlying inflation that are closely watched by the BoC - CPI-median and CPI-trim - show price pressures easing. "The yield curve would not invert to this extent unless investors also believed that inflation will drop back down toward the Bank's target," said Brown.
WELLINGTON, Dec 5 (Reuters) - The New Zealand government said it will introduce a law that will require big online digital companies such as Alphabet Inc's (GOOGL.O) Google and Meta Platforms Inc (META.O) to pay New Zealand media companies for the local news content that appears on their feeds. "New Zealand news media, particularly small regional and community newspapers, are struggling to remain financially viable as more advertising moves online," Jackson said. "It is critical that those benefiting from their news content actually pay for it." The new legislation will go to a vote in parliament where the governing Labour Party's majority is expected to pass it. Australia introduced a law in 2021 that gave the government power to make internet companies negotiate content supply deals with media outlets.
CNN —In a World Cup of surprises, Japan has played a leading role in headline-making shock results. Croatia is a team undefeated in nine of its last 10 World Cup matches. They made history Thursday as the first all-female refereeing crew for a men's World Cup match. Frappert became the first woman to referee a men's World Cup match. It was Morocco's first World Cup win since 1998 — and its third-ever at the tournament.
She began teaching fitness classes on the side and eventually gave up finance altogether. I started coaching fitness classes on the sideI did both finance and fitness for two years before quitting my banking job. I coached fitness classes a couple of nights a week and on the weekends in two different studios. Having this time to focus on fitness without fully leaving finance yet allowed me to transition in the most risk-averse way possible. This actually felt really easy to me because I was spending less naturally.
CNN —France was made to work hard for its place in the World Cup quarterfinals, overcoming an improved Poland side 3-1 thanks to goals from Olivier Giroud and Kylian Mbappé. That is Mbappé’s fifth goal of Qatar 2022 and already his ninth World Cup goal overall, breaking Pelé’s record of seven World Cup goals scored before the age of 24. They made history Thursday as the first all-female refereeing crew for a men's World Cup match. Issei Kato/Reuters Kylian Mbappé scores his second goal on November 26, leading France to a 2-1 victory over Denmark. Mbappé was one of the leading stars of the team's World Cup triumph four years ago.
The Netherlands knocked the USMNT out of the Qatar World Cup on Saturday. They made history Thursday as the first all-female refereeing crew for a men's World Cup match. Frappert became the first woman to referee a men's World Cup match. It was Morocco's first World Cup win since 1998 — and its third-ever at the tournament. Qatar is the first Islamic country to host a World Cup.
China has more than 100 "police stations" globally to monitor its citizens in exile, a report said. Some of these facilities are set up with the help of the host nations, Safeguard Defenders alleged. Many of these stations are set up through bilateral security agreements with host countries in Europe and Africa, the report alleged. Safeguard Defenders tracked forced disappearances in China by looking through open-source, official Chinese documents for evidence of alleged human rights abuses. They have also claimed that some of the stations were set up in response to the pandemic, but the Safeguard Defenders report claimed that the offices were opened several years before.
Morocco's 'avocado head' plots another World Cup shock
  + stars: | 2022-12-04 | by ( Shady Amir | )   time to read: +2 min
Spain, who humbled Costa Rica 7-0 in their opening game, finished second in Group E behind Japan while Morocco defied the odds to win Group F ahead of Croatia and Belgium. The Spanish, world champions in 2010, lost their last group match to Japan and face a difficult test from a Moroccan side growing in confidence under coach Walid Regragui. Spain drew 1-1 with Germany following their rout of Costa Rica and after the loss to Japan coach Luis Enrique was critical of his team. This was impossible because in five minutes, Japan scored two goals ... we were out, we were dismantled," he said. In the first half against Costa Rica, Spain's 537 successful passes set a World Cup record but they will need to show more cutting edge to stay on course for a second world title.
Dec 3 (Reuters) - With the World Cup knockout phase having begun, here is an overview of the teams advancing to the last 16 at the tournament in Qatar:HOW DOES THE KNOCKOUT STAGE AT WORLD CUP 2022 WORK? * In the knockout stage the teams will play each other once, with the winning team going to the next round. There are total of four rounds: Round of 16, quarter-finals, semi-finals and final, which will take place on Dec. 18. * Australia claimed a spot in the last 16 as Group D runners-up with 6 points from wins over Tunisia and Denmark. * Croatia joined the last 16 after two goalless draws with Morocco and Belgium and a 4-1 victory over Canada.
The price cap will prohibit G7 companies dealing with the insurance, re-insurance or financing of oil trade or to handle Russian crude oil cargoes to third countries unless the oil was sold at or below the $60 per barrel price cap. From Monday, the EU itself will not be buying any Russian seaborne crude, which had made up 94% of all Russian crude imports by the 27-nation EU. A G7 price cap on the petroleum products will also be set at a later date, using exactly the same mechanism as for crude oil, the Commission said. Because the world's key shipping and insurance firms are based in G7 countries, the price cap would make it very difficult for Moscow to sell its oil at a higher price. The price cap review is an EU-specific mechanism that will require unanimity among the 27 countries that make up the bloc for any changes to the price level.
Trust in women leaders is decreasing across the globe, a new study found. Experts say that the normalization of sexism, as well as perceived failures of some female leaders, may be why. That's on top of reduced childcare options during the pandemic locking many women out of the workforce. The survey, which was taken by over 30,000 people across the G20 countries, found that trust in women as leaders has fallen significantly over the past year. In particular, she pointed out that when Hillary Clinton lost the presidential election to Trump, many media outlets speculated whether America was really ready for a female president.
A British Airways passenger paid more than $400 to get her iPad back after leaving it on a plane. The lost property office was closed when she passed through Heathrow again a fortnight later. She asked a British Airways staff member if she could get it back but was told she couldn't return to the aircraft, according to the report. After passing through Heathrow again two weeks later she was told that the lost property office was shut. Bagport, which runs Heathrow's lost property office, and British Airways did not immediately respond to requests for comment from Insider.
Ukraine urges tougher Western squeeze on Russian oil prices
  + stars: | 2022-12-03 | by ( )   time to read: +1 min
The office of Ukrainian President Volodymyr Zelenskyy called Saturday for a lower price cap on Russian oil than the one agreed to by Ukraine's Western supporters, while Russian authorities called the $60-per-barrel cap harmful to free, stable markets. The cap is set to take effect Monday, along with an EU embargo on Russian oil shipped by sea. "It would be necessary to lower it to $30 in order to destroy the enemy's economy faster," Yermak wrote on Telegram, staking out a position also favored by Poland — a leading critic of Russian President Vladimir Putin's war in Ukraine. The Russian Embassy in Washington insisted that Russian oil "will continue to be in demand" and criticized the price limit as "reshaping the basic principles of the functioning of free markets." A post on the embassy's Telegram channel predicted the per-barrel cap would lead to "a widespread increase in uncertainty and higher costs for consumers of raw materials."
[1/5] Soccer Football - FIFA World Cup Qatar 2022 - Round of 16 - Netherlands v United States - Khalifa International Stadium, Doha, Qatar - December 3, 2022 United States players applaud fans after the match as United States are eliminated from the World Cup REUTERS/Annegret HilseAL RAYYAN, Qatar, Dec 3 (Reuters) - The United States exited the World Cup with a Round of 16 loss to the Netherlands on Saturday but looking towards the 2026 horizon, a bright future is rising for the young Americans. With defender DeAndre Yedlin, who played in Brazil in 2014, the only link to the country's World Cup past, the Americans' lack of experience was glaring at moments but offset by exuberance and a breathless work rate. A gritty, politically charged win over Iran and draws against England and Wales carried the United States into the last 16 but more will be expected on home soil. "We're just not there yet, we have to use this World Cup to establish ourselves. The loss to the Netherlands underscored the hard work ahead if the Americans plan to venture beyond the Round of 16 in 2026.
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