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☆ At least five dead and over 100 injured in Ukrainian strike in Russian occupied Crimea
▼ + stars: | 2024-06-23 | by ( Zahid Mahmood | ) edition.cnn.com time to read: +3 min

CNN —At least five people were killed and over 100 injured when missile fragments scattered over beachgoers during a Ukrainian strike on the city of Sevastopol in Russia-occupied Crimea, authorities say. “Unfortunately, we currently have 124 victims, of which three [are] dead children and two [are] dead adults,” Sevastopol Governor Mikhail Razvozhayev said on Telegram. One of victims killed in the Ukrainian strike was the daughter of Oleg Averyanov, Deputy Mayor of Magadan. Since the outbreak of the war in Ukraine, it has come under sporadic attack from Ukrainian forces. Before Russia’s 2022 invasion of Ukraine, Sevastopol – the largest city in Crimea – was a popular tourist destination for Russians.

Persons: Mikhail Razvozhayev, Oleg Averyanov, Yuri Grishan, Averyanov’s, Sofia, Razvozhayev, Dmitry Peskov, Vladimir Putin Organizations: CNN, ”, Russian Ministry of Defense, Russian Locations: Sevastopol, Russia, Crimea, ” Sevastopol, Ukraine, stretchers, Magadan, Washington, Kremlin, Ukrainian, Kyiv, Crimea –

☆ Egypt to revoke licenses from Hajj tourism companies over illegal pilgrimages amid reports of hundreds of deaths
▼ + stars: | 2024-06-23 | by ( Zahid Mahmood | Housam Ahmed | ) edition.cnn.com time to read: +3 min

CNN —The Egyptian government will revoke the licenses of 16 Hajj tourism companies involved in making illegal pilgrimages to Mecca and refer the company’s managers to the public prosecutor amid fears hundreds of Egyptians could have died in this year’s Hajj. The decision was made in a cabinet meeting on Saturday after a report highlighted the dubious nature of how some tourism companies operate. The official toll among Egyptians stands at 31, but it is being reported by Reuters news agency and other outlets that as many as 500 to 600 Egyptians died during the pilgrimage. A CNN tally puts the total dead from Hajj at nearly 500 but the figure is likely to rise. Muslim pilgrims perform the farewell circumambulation or "tawaf", circling seven times around the Kaaba, Islam's holiest shrine, at the Grand Mosque in the holy city of Mecca.

Persons: Mostafa Madbouly, ”, Ahmed Organizations: CNN, Reuters, Getty, Egyptian Locations: Mecca, Hajj, AFP, Saudi Arabia, Indonesia, ”

CNN —Spain, Norway and Ireland have announced plans to formally recognize a Palestinian state, in a move that is likely to bolster the global Palestinian cause but strain relations with Israel. Palestinian statehood has been recognized by more than 130 out of 193 member states of the United Nations, according to the Palestine Liberation Organization. “Today, Ireland, Norway and Spain are announcing that we recognize the state of Palestine. Each of us will now undertake whatever national steps are necessary to give effect to that decision,” Irish Prime Minister Simon Harris told a news conference in Dublin on Wednesday. The landmark decision by three key European players sparked swift condemnation from Israel, with a senior lawmaker ordering the immediate recall of Israeli ambassadors to Ireland and Norway.

Persons: Simon Harris, Micheál Martin, Jonas Gahr Støre, ” “, ” Støre, Pedro Sánchez, “, ”, “ It’s, It’s, Israel Katz, Katz Organizations: CNN —, United Nations, Palestine Liberation Organization, “, Norway’s, Spain’s, Terrorism Locations: CNN — Spain, Norway, Ireland, Palestinian, Israel, Spain, Palestine, Dublin, Gaza, Iran

☆ Malaysia won't use interest rates to prop up the ringgit, says central bank deputy chief
▼ + stars: | 2024-05-14 | by ( Sumathi Bala | ) www.cnbc.com time to read: +1 min

Malaysia will not use monetary policy as a tool to shore up its currency, according to the central bank's deputy governor. Bank Negara's Adnan Zaylani Mohamad Zahid said the country's monetary policy decisions will be determined by economic growth and the inflation outlook. The ringgit currently does not reflect Malaysia's economic fundamentals and growth prospects, Bank Negara said in a statement last week. This has been fueled by expectations that the U.S. Federal Reserve could hold interest rates higher-for-longer as inflation remains sticky. Adnan Zaylani said the central bank expects the U.S. interest rate cycle to turn at "some point in time," which will then reflect on the "ringgit performance."

Persons: Bank Negara's Adnan Zaylani Mohamad Zahid, CNBC's, Adnan Zaylani Organizations: Bank, Bank Negara, Korean, U.S ., U.S . Federal Locations: Malaysia

☆ Malaysian central bank says it won't use interest rates as a tool to 'somewhat defend the ringgit'
▼ + stars: | 2024-05-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMalaysian central bank says it won't use interest rates as a tool to 'somewhat defend the ringgit'Adnan Zaylani Mohamad Zahid, deputy governor of Bank Negara Malaysia, says its monetary policy will be determined by the growth and inflation outlook.

Persons: Adnan Zaylani Mohamad Zahid Organizations: Malaysian, Bank Negara Malaysia Locations: Bank

CNN —Russian forces have made two cross border assaults inside northern Ukraine, according to information from Ukrainian sources and officials – in what President Volodymyr Zelensky is calling a ‘new wave of counteroffensive actions” by Russia. In the first development, Russian soldiers penetrated at least one kilometre towards the town of Vovchansk, a Ukrainian military source told CNN. The source said the Russian ground assault towards Krasne was carried out by four Russian battalions - about 2000 men. “But our military and military command were aware of this and anticipated their forces to meet the enemy with fire. Syniehubov insisted the latest Russian ground assaults did not put the city, which lies just 30 kms south from the Russian border, under heightened risk.

Persons: Volodymyr Zelensky, “, DeepStateMap, ”, ” Zelensky, Oleh Syniehubov, Syniehubov Organizations: CNN, Russian, Ukraine’s Defense Ministry, CNN Russian, Staff, “, National Locations: Ukraine, Russia, Vovchansk, Ukrainian, Krasne, Russian, Moscow, “ Russia, Kharkiv

☆ Judge rejects J&J, Bristol Myers Squibb challenges to Medicare drug-price negotiations
▼ + stars: | 2024-04-29 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +3 min

A federal judge in New Jersey on Monday rejected Johnson & Johnson 's and Bristol Myers Squibb 's legal challenges to the Biden administration's Medicare drug-price negotiations, ruling that the program is constitutional. J&J and Bristol Myers Squibb did not immediately respond to requests for comment on the ruling. J&J, Bristol Myers Squibb, Novo Nordisk and Novartis presented their oral arguments before Quraishi during the same hearing in March. That same month, a federal judge in Delaware rejected AstraZeneca's separate lawsuit challenging the negotiations. In Texas, a third federal judge tossed a separate lawsuit in February.

Persons: Johnson, Bristol Myers, Joe Biden's, Zahid Quraishi, Quraishi, Bristol Myers Squibb's, AstraZeneca's Organizations: Bristol, Bristol Myers Squibb, Biden, White, Supreme, Final, of New, Novo Nordisk, Novartis, Chamber of Commerce Locations: New Jersey, U.S, of New Jersey, Delaware, Texas, Ohio

☆ This state is one of the last strongholds for machine politics. That's about to change.
▼ + stars: | 2024-04-28 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +7 min

At the end of March, a federal judge sided with Kim, blocking Democrats from using the so-called "county line" system in the state's upcoming June primaries. That's set to bring a stark change to the way ballots look — and potentially, a total overhaul in the state's political culture. AdvertisementHere's what to know about the "county line" and why it may be going away for good. A 2020 Democratic primary ballot in Mercer County, New Jersey. "I think you'll see a more candidate-centric politics," said Jersey City Councilman James Solomon, a longtime opponent of the county-line system.

Persons: —, Andy Kim, Kim, That's, Kim et, Hanlon, Sen, Bernie Sanders, Joe Biden, Hanlon et al, Bob Menendez's, Democratic Sen, Bob Menendez, Menendez, Spencer Platt, Tammy Murphy, Phil Murphy, Zahid Quraishi, Tom Williams, Murphy, Rob Menendez —, Ravi Bhalla, James Solomon, They've, they've Organizations: Democratic, Service, Garden State, New York City, Getty, Democratic Gov, Jersey City Locations: New Jersey, Nevada and Delaware, Salem, Sussex, Mercer County , New Jersey, Hanlon et, New York, Hoboken, Jersey

☆ Searing heat is back across Southeast Asia and it’s not going away anytime soon
▼ + stars: | 2024-04-10 | by ( Heather Chen | ) edition.cnn.com time to read: +6 min

CNN —The death of a toddler from extreme heat highlighted the risk of climate-related illnesses across Malaysia. And in the Philippines, hundreds of schools suspended classes after daily temperatures soared past 107 degrees Fahrenheit (42 degrees Celsius). Sweltering heat is back in Southeast Asia, one of the regions most vulnerable to climate change. But alongside these natural variations, the world continues to blast through climate records, with deadly heat waves becoming the norm. A resident attempts to pump underground water from a dried reservoir in Vietnam's central Ninh Thuan province during a heat wave and drought on April 6, 2024.

Persons: climatologist Maximiliano Herrera, Herrera, “, ” Herrera, ”, El Niño, Stringer, Adly Zahari, Ahmad Zahid Hamidi, Aidil Iman Aidid, fasted Organizations: CNN, Getty, El, heatstroke, Education, Philippines Locations: Malaysia, Vietnam, Philippines, Southeast Asia, Thailand, Bangkok, Rice, Ninh Thuan, AFP, Asia, Pahang, Kelantan, Sabah, Borneo, Kuala Lumpur, Singapore, Manila

A photo taken by Abdallah Dalee in the early hours of February 29 shows a crowd of people waiting by firelight for the aid trucks to cross into northern Gaza. Mark Regev, the Israeli prime minister’s special adviser, initially told CNN that Israeli forces had not been involved. “Most of the people that were killed were rammed by the aid trucks during the chaos and while trying to escape the Israeli gunfire,” Al Za’anoun said. The footage shows hundreds of people gathering around aid trucks on Al Rashid Street. People mourn outside Al-Shifa hospital in Gaza City over one of the Palestinians killed during the aid delivery on February 29.

Persons: Abu Watfa, ” Abu Watfa, ’, ”, Al Rashid, Abdallah Dalee, firelight, Abdallah Dalee Gazan, Mark Regev, Daniel Hagari, Al Za’anoun, ” Al Za’anoun, Rashid, Belal, Robert Maher, Richard Weir, Weir, Al Jazeera, “, Abd Rabu, Hamouda Zamil, Dr, Amjad Aliwa, Georgios Petropoulos, ” Mohammed Ahmed, I’ve, ” Ahmed, Ahmed Organizations: CNN, United Nations, Israel Defense Forces ’, IDF, Montana State University, Human Rights Watch, Al, AFP, Getty, Welfare Trust, Welfare, Ummah Welfare, UN Office, Human Rights Locations: Gaza City, Gaza, Israel, Al, United States, Bolton, England, “, Al Nabulsi, Al Kuwaiti

☆ New Jersey’s Ballot Must Be Immediately Redesigned, Federal Judge Rules
▼ + stars: | 2024-03-29 | by ( Tracey Tully | ) www.nytimes.com time to read: 1 min

A federal judge has granted an emergency request to force New Jersey to redesign its election ballot before the June primary, upending a longstanding source of electoral power for the state’s Democratic and Republican parties. The ruling, issued on Friday, is expected to fundamentally reshape politics in New Jersey and will have an immediate effect on June’s primary races. “The integrity of the democratic process for a primary election is at stake,” wrote Zahid N. Quraishi of U.S. District Court for the District of New Jersey in a 49-page decision. “Plaintiffs have put forth credible evidence not only that their constitutional rights are violated by the present ballot design used in New Jersey, which is used in no other state in the country,” he wrote, adding, “but that defendants would suffer minimal harm in implementing the ballot design requested.”

Persons: upending, ”, Zahid Organizations: state’s Democratic, Republican, District of Locations: New Jersey, U.S, District of New Jersey

☆ UK judge denies Trump’s appeal in suit related to Steel dossier
▼ + stars: | 2024-03-29 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +3 min

CNN —A London appellate justice refused former President Donald Trump’s request to appeal the dismissal of his case against retired British spy Christopher Steele’s company over his controversial 2016 dossier. Steyn also ordered Trump to pay £300,000 in legal fees to Steele’s company, Orbis Business Intelligence, which Trump requested to be stayed. In his order Wednesday, Lord Justice Mark Warby said Trump’s “appeal would have no real prospect of success,” finding that some of the presumptive Republican presidential nominee’s arguments were contradictory and his appeal attempted to offer new points that he didn’t present before Steyn. The dossier claimed that Trump conspired with the Kremlin to win the 2016 election and that Russia had compromising information on him. While the dossier was initially seen as credible due to Steele’s reputation, a series of US government investigations and lawsuits over the years discredited many of the claims.

Persons: Donald Trump’s, Christopher Steele’s, Karen Steyn’s, Steele, —, Steyn, Trump, Mark Warby, Trump’s, Jean Carroll, ”, ” Steele, “, Donald Trump, CNN’s Kate Sullivan, Natasha Bertrand, Zahid Mahmood, Marshall Cohen, Catherine Nicholls Organizations: CNN, Orbis Business Intelligence, Republican, Trump, ” CNN, Kremlin Locations: London, British, York, Russia

☆ How Donald Trump, Joe Biden and grassroots liberals could upend Democratic politics in one of the country’s bluest states
▼ + stars: | 2024-03-24 | by ( Gregory Krieg | ) edition.cnn.com time to read: +17 min

Menendez announced Thursday that he would not run for reelection in the Democratic primary but again left open the possibility of an independent bid this summer. New Jersey Rep. Andy Kim greets supporters outside the Bergen County Democratic convention in Paramus on March 4, 2024. “Corrupt systems like the ‘county line’ in New Jersey (is) an enemy because that dissuades folks from actually getting involved. Kim speaks to delegates during the Bergen County Democratic convention in Paramus, New Jersey, on March 4, 2024. In Camden County, where the local boss keeps a tighter grip, video of another Senate candidate, progressive Patricia Campos-Medina, being blocked from entering the county Democratic convention went viral.

Persons: Andy Kim, Donald Trump, Joe Biden, Tammy Murphy, Kim, Murphy, Sen, Bob Menendez, Menendez, Phil Murphy, Seth Wenig, Olivia Liu, –, Trump, ”, Julia Sass Rubin, Rubin, ” Rubin, Sue Altman, ” Altman, Goldman Sachs, Cori Bush, Ezra Levin, Levin, ” Levin, isn’t MAGA, don’t, we’ll, Altman, Zahid Quraishi’s, ” “ I’m, ” Kim, “, Kim’s, Alexandra Altman, Katey Sabo, Matt Platkin, Platkin, Governor Murphy, ” Murphy, Mahen Gunaratna, Patricia Campos, Rachel Hodes, ” Hodes, Steven Fulop, ” Fulop, “ I’ve Organizations: Jersey City , New Jersey CNN, Democratic, Garden State, Democrats, Capitol, New, . New, . New Jersey Rep, Bergen County Democratic, Tammany Hall of, New Jersey Democratic, ”, Asbury Park Press, USA, Though New, Though New Jersey Democrats, Congressional, Democratic National Committee, Justice Democrats, Democratic Party, Families Alliance, CNN, –, Hoboken Democrats –, Hudson County Democratic Organization, Hoboken Democratic, Hoboken Democrats, Jersey City, Senate, New Jersey Republicans Locations: Jersey City , New Jersey, Trenton, South Jersey, New Jersey, Garden, ., . New Jersey, Bergen County, Paramus, Siberia, Long Branch , New Jersey, Rutgers, enmesh, Though, Though New Jersey, Alexandria, Cortez, New York, Missouri, Paramus , New Jersey, Jersey, Kim’s, Morris, Atlantic, Camden County, Medina, Hoboken

☆ UK court orders Trump to pay legal fees of company he sued over controversial Russia dossier
▼ + stars: | 2024-03-08 | by ( Kaanita Iyer | ) edition.cnn.com time to read: +2 min

CNN —A London judge has ordered former President Donald Trump to pay six figures in legal fees to a company he sued over a controversial dossier that made unverified and salacious allegations about him, according to court documents released Thursday. After dismissing the former president’s case last month against retired British intelligence officer Christopher Steele and his company, Orbis Business Intelligence, Judge Karen Steyn has ordered Trump to pay £300,000 ($385,000) to the company, according to court documents. Steyn ultimately ordered Trump to pay less than 50% of Orbis Business Intelligence’s stated costs. CNN has reached out to Orbis Business Intelligence and the Trump campaign for comment. Trump also faces his own legal fees in the 91 charges he faces in four criminal cases.

Persons: Donald Trump, Christopher Steele, Karen Steyn, Trump, Steyn, Orbis Business Intelligence’s, Steele, Jean Carroll, CNN’s Michael Rios, Jonny Hallam, Kristen Holmes, Marshall Cohen, Zahid Mahmood Organizations: CNN, Orbis Business Intelligence, Trump, Orbis Business, Kremlin Locations: British, Russia, York

☆ Gulmarg: Snow has returned to Asia’s highest ski resort. Here’s what visitors going there now can expect
▼ + stars: | 2024-02-20 | by ( Ramaa Reddy | ) edition.cnn.com time to read: +8 min

CNN —In early January, anyone who visited the ski resort village of Gulmarg in Indian-administered Kashmir with hopes of actually skiing was out of luck. A severe snow shortage, blamed on dry weather, threatened to derail the entire winter season, leaving both travelers and tourism operators disappointed. Regardless of whether you’re a full-time athlete or someone who enjoys skiing and snowboarding for fun, Gulmarg offers a winter experience like no other. Today, travelers headed for Asia’s highest ski resort can enjoy over 1,330 vertical meters (4,363 feet) of skiable terrain, with lifts offering access to four separate skiing zones on Mount Apharwat. Many of those visitors don’t ski but just ride up the gondola to play in the snow and take in the views at the top.

Persons: Mukhtar Ahmad, Nanga Parbat, ”, Brian Newman, Newman, “, ” Mehmood Ahmad Lone, –, nans, Kababs, Rogan Josh, Kati, It’s, Mount Apharwat, Colonel Mirza Zahid Baig, Gulmarg, Javedh Ahmad Reshi Organizations: CNN, El, El Nino, Adventure, Hindustan Times, Newman’s, US Department of State, Warfare, USA Locations: Gulmarg, Kashmir, India, Mount Apharwat, British, Apharwat, Nanga, Colorado, Europe, North America, Pakistan, Khyber, Highland, Hilltop, Kashmir’s, Srinagar, Mount

The strongly worded reaction from the Foreign Ministry insisted the vote was peaceful and successful. The U.S. State Department said that Thursday's vote was held under undue restrictions on freedoms of expression, association and peaceful assembly. In Thursday's vote, no political party gained a simple majority and independent candidates backed by imprisoned former Prime Minister Imran Khan took a lead in the vote count. Candidates backed by Khan’s Pakistan Tehreek-e-Insaf party won 100 out of the 266 seats up for grabs in the National Assembly. Also Saturday, the leader of a political party was wounded and two police officers killed in a clash in the country's northwest.

Persons: Imran Khan, Khan's, Nawaz Sharif, Khan, Mohsin Dawar, Zahid Khan Organizations: —, Foreign Ministry, U.S . State Department, European Union, National Assembly, Pakistan Muslim League Locations: ISLAMABAD, — Pakistan, Pakistan, North Waziristan

CNN —Russia and Ukraine exchanged hundreds of prisoners of war on Thursday. Ukrainian President Volodymyr Zelensky said on Telegram that the released prisoners had returned to Ukraine. Last week, Ukraine and Russia exchanged hundreds of prisoners of war in what the Ukrainian government called the “second major exchange after a long break.”It was the first exchange since the mysterious crash of a Russian IL-76 plane on January 24 in Russia’s Belgorod region, which neighbors eastern Ukraine. Moscow claimed the plane was transporting dozens of Ukrainian prisoners of war, while Kyiv said it was carrying Russian missiles to be used in further strikes on Ukraine. Zelensky said 207 Ukrainian service members were returned on Wednesday, while the Russian Defense Ministry said 195 Russian military personnel had been received.

Persons: KSHPPV, Volodymyr Zelensky, ” Zelensky, Zelensky Organizations: CNN, Ukrainian Armed Forces, United Arab Emirates, Russian Ministry of Defence, Russian Air Force, Russian Defense Ministry Locations: Russia, Ukraine, Azovstal, Donetsk, Luhansk, Russian, Russia’s Belgorod, Moscow, Kyiv

☆ UK judge dismisses Trump’s suit against ex-spy behind controversial Russia dossier
▼ + stars: | 2024-02-01 | by ( Zahid Mahmood | Marshall Cohen | ) edition.cnn.com time to read: +2 min

LONDON CNN —A London judge has dismissed Donald Trump’s lawsuit against retired British spy Christopher Steele over his controversial 2016 dossier that contained unverified and salacious allegations about Trump’s ties to Russia. A judge from the London High Court dismissed the data privacy lawsuit against Steele and his company, Orbis Business Intelligence, according to local reports. Those uncorroborated claims first emerged in the so-called Steele dossier, which Steele secretly compiled on behalf of Trump’s political opponents in 2016, and became public after a media leak in early 2017. The memos claimed Trump conspired with the Kremlin to win in 2016 and that Russia had compromising information on him. Judge Karen Steyn said Thursday that Trump’s case lacked merit and should be thrown out.

Persons: Donald Trump’s, Christopher Steele, Steele, Trump, Karen Steyn, ” Steyn, ”, Antony White KC, –, ” Steele Organizations: CNN, London High Court, Orbis Business Intelligence, Kremlin, Orbis, Republican Locations: British, Russia, BuzzFeed, Trump

☆ Gaza: Israel’s war has cost this young woman her closest friends
▼ + stars: | 2024-01-24 | by ( Zahid Mahmood | Abeer Salman | ) edition.cnn.com time to read: +10 min

CNN —Nowara Diab was trying to drown out the sounds of airstrikes by listening to music, but it was not enough to shake the unsettled feeling in her gut. As Israel’s war approaches its fourth month, sustained bombardment by Israeli forces in Gaza has had a devastating impact on civilians there. Conditions in Gaza are a ‘living hell’At the outset of the war, Diab watched as bombs fell near her home in Gaza City. “This is a sneak peek into hell.”Maimana Jarada, left, and Nowara Diab in Gaza before October 7. Nowara Diab at the house she is staying at in Rafah, southern Gaza.

Persons: Nowara Diab, panicking, Diab, Jarada, Abraham Saidam, ” Diab, they’re, “, António Guterres, ”, “ I’m, it’s, ’, Maimana Jarada, Nowara, Abraham, Saidam, ” Saidam, King Odysseus, you’re, they’ve, Khan Younis, there’s, “ We’re, we’re Organizations: CNN, United Nations, Ministry, Israel Defense Forces, United Nations ’ Relief, Works Agency for Palestine Refugees, UN, UNICEF, Al Azhar University Locations: Rafah, Gaza, Diab, Gaza City, East

KARACHI, Pakistan (AP) — From Berlin to London and Limassol to Karachi, thousands of people took to the streets Sunday to mark the 100th day of Israel’s war with Hamas. Opposing demonstrations either demanded the release of Israeli hostages held by Hamas or called for a cease-fire in Gaza. In the southern Pakistani city of Karachi, tens of thousands waved Palestinian flags or wore the keffiyeh, the traditional Palestinian scarf, to express their solidarity with Palestinians in a rally organized by the country’s largest religious political party, Jamaat-e-Islami. The party’s Karachi chief, Hafiz Naeem Ur Rehman, called on the U.S. to stop backing Israel and compensate Palestinians for their losses. Protesters in London held posters with photos and the words “100 days in hell” to express their solidarity with Israel.

Persons: Hafiz Naeem Ur Rehman, Israel, ” Rehman, Ishrat Zahid, ”, Ayelet Svatitzky, “, ’ ’, Nadav Popplewell, Channah Peri, Peri, Roi Popplewell, Akrotiri, Osman Delibas, Delibas, Pope Francis, ____, Hadjicostis, Christophe Ena, Andrew Wilks, Frances D'Emilio Organizations: Hamas, Islami, Organization of Islamic Cooperation, Protesters, Israel, Palestine, ” Protesters, RAF, British, British Ministry of Defense, Turkey’s Humanitarian Relief Foundation, . Foundation, Anadolu, Associated, Associated Press Locations: KARACHI, Pakistan, Berlin, London, Limassol, Karachi, Gaza, Pakistani, Israel, Dublin, Edinburgh, Paris, ”, Cyprus, British, Yemen, Britain, Egypt, Turkey, Istanbul, Iraq, Kurdish, St, Ukraine, Palestine, Rome

☆ Crypto stocks surge as bitcoin hits fresh 2023 high
▼ + stars: | 2023-12-04 | by ( ) www.reuters.com time to read: +2 min

"What we have right now is a risk rally, and bitcoin is also benefiting big time from falling yields. Halving is a process designed to slow the release of bitcoin, and bitcoin prices have typically rallied following halvings. The stock rose nearly 62% in November, even as the crypto exchange reported a decline in third-quarter trading volumes. The ProShares Bitcoin Strategy ETF , which tracks bitcoin futures, rose 7.7% and looked set to touch an over one-year high, while the ProShares Short Bitcoin Strategy ETF that allows traders to bet on a fall in bitcoin futures fell 7.7%. However, the recent rally has sent bitcoin up more than 150% so far in 2023, on course for its best annual performance since 2020.

Persons: Dado Ruvic, Bitcoin, Ipek Ozkardeskaya, Microstrategy, Sruthi Shankar, Amruta, Tasim Zahid Organizations: REUTERS, Swissquote Bank, Thomson Locations: U.S, Bengaluru

☆ Volkswagen becomes the latest automaker to hike wages for U.S. factory workers
▼ + stars: | 2023-11-22 | by ( ) www.reuters.com time to read: +1 min

A Volkswagen logo is seen during the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 22 (Reuters) - Volkswagen (VOWG.DE) said on Wednesday that it would hike salaries for production workers at its Tennessee-based Chattanooga assembly plant by 11%, weeks after the United Auto Workers union won significant pay and benefit hikes from the Detroit Three automakers. Japanese automakers Honda Motor (7267.T) and Toyota (7203.T) have raised wages for non-union U.S. factory workers in recent weeks amid signs that the union is turning its attention to organizing the workforce at foreign-owned and Tesla auto plants. Hyundai Motor (005380.KS) has also announced a 25% increase over the next four years for non-union production workers in Alabama and Georgia. UAW President Shawn Fain told Reuters last week that the union was getting expressions of interest in organizing from many Tesla (TSLA.O) workers.

Persons: Andrew Kelly, Shawn Fain, Elon, Mehr Bedi, Tasim Zahid Organizations: New York, REUTERS, United Auto Workers, Detroit Three automakers, UAW, Honda, Toyota, U.S, Hyundai, Reuters, Thomson Locations: Manhattan , New York City, U.S, Tennessee, Chattanooga, Alabama, Georgia, Bengaluru

☆ Chipmaker Analog Devices' forecasts held back by inventory corrections
▼ + stars: | 2023-11-21 | by ( ) www.reuters.com time to read: +2 min

Analog Devices' logo is pictured on a smartphone in this illustration taken, December 4, 2021. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsNov 21 (Reuters) - Chipmaker Analog Devices (ADI.O) projected first-quarter revenue and profit below market estimates on Tuesday, as it grapples with the ongoing supply glut in the semiconductor industry. Inflation-hit customers have refrained from placing new orders for chips, leading to excess supply at companies such as Analog Devices after a pandemic-driven buying spree fizzled out. First-quarter adjusted earnings are expected to be $1.70 per share, plus or minus 10 cents, below analysts' average estimates of $1.90. Cautious spending by automakers fearing a slowdown in their electric-vehicle businesses has also weighed on orders at Analog Devices.

Persons: Dado Ruvic, Vincent Roche, Arsheeya, Tasim Zahid Organizations: REUTERS, Texas, Analog Devices, Thomson Locations: Bengaluru

☆ Amazon's prototype Kuiper satellites operating successfully
▼ + stars: | 2023-11-16 | by ( Joey Roulette | ) www.reuters.com time to read: +3 min

REUTERS/Joe Skipper/File Photo Acquire Licensing RightsNov 16 (Reuters) - Amazon.com (AMZN.O) said on Thursday its two prototype satellites for its planned Kuiper internet network have been operating successfully in orbit, with the project on track to start launching operational satellites by mid-2024. The Kuiper internet network is set to compete against billionaire Elon Musk's Starlink, the world's largest satellite operator, to offer broadband internet service globally to consumers, companies and governments. Amazon said it used the prototype satellites for brief two-way video calls, streaming a high-definition movie on Prime Video and ordering items off Amazon's website. Badyal declined to say how many satellites Amazon would launch per rocket. The Boeing-Lockheed joint venture United Launch Alliance is set to loft the first several batches of Kuiper satellites aboard its Atlas 5 and the company's upcoming Vulcan rocket.

Persons: Joe Skipper, Elon Musk's Starlink, Rajeev Badyal, Badyal, Jeff Bezos, Joey Roulette, Zaheer Kachwala, Tasim Zahid, Will Dunham Organizations: United, Alliance, Cape Canaveral Space Force, REUTERS, United Launch Alliance, U.S . Federal Communications Commission, Reuters, Vodafone, Verizon, Amazon, Boeing, Lockheed, Vulcan, SpaceX, Thomson Locations: Cape Canaveral , Florida, U.S, Florida, New York, Bengaluru

☆ Hyundai unveils its first high-performance electric car
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

The logo of Hyundai Motor Company is pictured at the New York International Auto Show, in Manhattan, New York City, U.S., April 13, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsNov 15 (Reuters) - Hyundai Motor (005380.KS) unveiled its first high-performance electric vehicle(EV), an N sport variant of its IONIQ 5 crossover SUV. The N brand is the company's high-performance brand, akin to AMG for the Mercedes and the M lineup for the BMW. The IONIQ's N variant will be powered by dual motors producing 641 horsepower, nearly double the output of the most powerful variant of the standard outgoing model. Hyundai unveiled the performance EV in Los Angeles on Wednesday, ahead of the Los Angeles Auto Show opening on Friday.

Persons: Andrew Kelly, Nathan Gomes, Tasim Zahid Organizations: Hyundai Motor, New York, REUTERS, Hyundai, South, AMG, Mercedes, BMW, Los Angeles Auto, Audi, Porsche, Dodge, EV, Thomson Locations: Manhattan , New York City, U.S, Los Angeles, Bengaluru

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