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☆ Patagonia gave 90 staff a choice — relocate across the US or leave the company. They've got 3 days to decide.
▼ + stars: | 2024-06-27 | by ( Polly Thompson | ) www.businessinsider.com time to read: +7 min

CX employees must now live within 60 miles of one of seven "hubs" — Atlanta, Salt Lake City, Reno, Dallas, Austin, Chicago, or Pittsburgh. AdvertisementPatagonia verified the details of the announcement to BI, confirming that 90 of 255 CX staff in the US were affected. Both employees BI spoke to said they were accepting the severance and did not know anyone who was considering relocation. AdvertisementPatagonia spokesperson Corley Kenna told BI several employees had already indicated they would relocate. Advertisement"The reality is that our CX team has been running at 200% to 300% overstaffed for much of this year," Kenna told BI.

Persons: —, Amy Velligan, Bruce Old, George Frey, I've, Corley Kenna, Kenna, We've, Yvon Chouinard, Harris, Chouinard, Jean, Marc Giboux, Yvon Chouinard's, Yvon, it's Organizations: Service, Business, Workers, Walmart, Patagonia, BI, Reno, New York Times, Washington Post Locations: Patagonia, Atlanta, Salt Lake City, Reno, Dallas, Austin, Chicago, Pittsburgh, California, Ventura, Nevada

☆ Abu Dhabi wants to be an AI leader. Aligning with the US is just the start
▼ + stars: | 2024-06-26 | by ( Amy Gunia | ) edition.cnn.com time to read: +7 min

CNN —The world’s first minister dedicated to developing artificial intelligence (AI) strategy is already becoming embroiled in a global power struggle for tech supremacy. The UAE is one of the world’s largest producers of fossil fuels, and Abu Dhabi sees its AI push as crucial for diversifying away from oil. Christopher Pike/Bloomberg/Getty ImagesWashington has also limited the sale of sophisticated US chips to ensure China doesn’t use Middle Eastern nations as a back door to access the newest AI technology, according to Reuters. By opening up the technology, Abu Dhabi is positioning itself as an ally to developing nations that don’t have the resources to build their own AI tools. In March, a report commissioned by the US State Department warned that the most advanced AI systems could, in a worst-case scenario, “pose an extinction-level threat to the human species.”Olama has some specific concerns.

Persons: Biden, Omar Al Olama, “, Zayed Al Nahyan, Abu Dhabi, ”, ” Olama, Al Olama, ’ ”, Christopher Pike, Olama, Abu Dhabi’s, ” James Lewis, Abu Dhabi’s Mohamed bin, Gifty Sahany, Lewis, ” He’s Organizations: CNN, Microsoft, United Arab Emirates, UAE, PwC, Commerce Department, Huawei, Etihad, United, Bloomberg, Getty, Washington, Reuters, Nvidia, Apple, Technology Innovation Institute, Google, Center for Strategic, International Studies, Washington DC, University of Artificial Intelligence, Systems, US State Department Locations: Abu Dhabi, UAE, China, United States, Dubai, Gulf, United Arab Emirates, Beijing, Washington, University, Valley

☆ Fake elector case in Nevada dismissed over venue question, state attorney general vows appeal
▼ + stars: | 2024-06-21 | by ( Associated Press | ) edition.cnn.com time to read: +5 min

Nevada Attorney General Aaron Ford said he’ll take the issue to the state Supreme Court after Clark County District Court Judge Mary Kay Holthus ruled that Las Vegas was the wrong venue for the case. “They’re done,” said Margaret McLetchie, attorney for Clark County Republican Party chairman Jesse Law, one of the defendants in the case. The state Republican Party issued a statement welcoming the court decision, pointing to Ford’s vow to appeal and asking for contributions to continue the court fight. Chattah ran as a Republican in 2022 for state attorney general and lost to Ford by just under 8% of the vote. Also, unlike other states, Nevada did not have a legal challenge pending in courts at the time.

Persons: Donald Trump, Aaron Ford, he’ll, Mary Kay Holthus, we’ll, ” Ford, “ They’re, ”, Margaret McLetchie, Jesse Law, Michael McDonald, Jim DeGraffenreid, Shawn Meehan, Jim Hindle, Eileen Rice, McDonald’s, Richard Wright, Ford, ” Wright, Holthus, Matthew Rashbrook, McDonald, Brian Hardy, Meehan, Sigal Chattah, Chattah, Joe Biden, Kenneth Chesebro, Chesebro, Trump, Biden, State Barbara Cegavske, Cegavske Organizations: LAS VEGAS, Las, Clark County Republican, Democratic, Republican, “, Republican Party, Convention, Ford, Trump, State Locations: Nevada, Clark, Las Vegas, Carson, Douglas, Storey County, Carson City, Reno, ”, Nevada’s Storey, Milwaukee, Arizona, Georgia, Michigan, New Mexico, Pennsylvania, Wisconsin

☆ Alfa Bank: US-sanctioned Russian banking giant expands in China
▼ + stars: | 2024-06-20 | by ( Laura He | Olesya Dmitracova | ) edition.cnn.com time to read: +3 min

Hong Kong/London CNN —Battered by Western sanctions, Russia’s largest privately owned bank is expanding its business in the world’s second-largest economy. That would make the lender the first private Russian bank to open full-service branches in the two major Chinese cities. The bank is part of Alfa Group, one of Russia’s largest financial and investment conglomerates, which was founded by Fridman. Alfa Bank made a loss of 117.1 billion rubles ($1.44 billion) in 2022, according to its annual report for that year. A year later, it seemed to bounce back, reporting profit of 120.9 billion rubles ($1.4 billion) for 2023.

Persons: Mikhail Fridman, hasn’t, Fridman Organizations: London CNN, Alfa Bank, CNN, Alfa Group, European, Moscow, Hong Kong Equity Investment Association Locations: China, Hong Kong, London, Russian, Beijing, Shanghai, Ukraine, United States, Russia, Italy, Western

☆ Putin arrives in North Korea for first visit in 24 years as anti-West alignment deepens
▼ + stars: | 2024-06-18 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +9 min

Following his visit to North Korea, Putin is scheduled to travel to Hanoi in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Putin’s trip to North Korea will have a “very eventful” agenda, his aide Yuri Ushakov said during a press conference Monday. One image was of a grandstand being constructed on the eastern side of Kim Il Sung Square, the site where all major parades in North Korea are held. Putin arrives in North Korea on Tuesday, June 18. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: Vladimir Putin, Kim Jong Un, Putin, Kim, Yuri Ushakov, Ushakov, Kim Il, John Kirby, Biden, wasn’t “, ’ Kim, ” Kim, ”, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ” Putin, Kim Jong Il, Xi Jinping, Michael Mitsanas, Katharina Krebs, Mariya Knight, Yoonjung Seo, Betsy Klein, Paul P, Murphy Organizations: CNN, TASS, Putin, Planet Labs, Maxar Technologies, US, North Korean, North, South Korea’s, Chiefs of Staff, West, Ukrainian, Kyiv, NATO, Ukraine, Defense, Kremlin, United Nations Security, UN Locations: North Korea, Pyongyang, Ukraine, Korean, Korea, Hanoi, Russia, United States, Asia, Moscow, North, Zarubinreporter, South Korea, South, Russia’s, Eurasia, Italy, Kyiv, Russian, Vietnam, Beijing, China, Iran, South Africa, Brazil

☆ Putin may need arms from North Korea’s Kim for Ukraine war, but what is he willing to give in return?
▼ + stars: | 2024-06-18 | by ( Simone Mccarthy | ) edition.cnn.com time to read: +10 min

North Korea launched its first spy satellite, the Malligyong-1, in November. The arrangement may also enable North Korea to gain real-world intel on the functioning of its weaponry and help it ramp up exports more broadly. Such satellites can help North Korea improve its ground-based military capabilities, for example enabling it to more accurately target opponents’ forces with its own missiles. Both countries in recent years have blocked movement in the council related to North Korea as they grew skeptical of US-backed sanctions. He pointed to his experiences during the former US President Barack Obama administration working on nonproliferation efforts related to North Korea and Iran.

Persons: Vladimir Putin, Putin ramped, Kim Jong, Putin, ”, Edward Howell, Xi Jinping, Kim, ” Putin, “ Kim Jong, he’ll, Ankit, Sofiia Gatilova, Putin –, “ Putin, –, John Erath, Erath, Xi, it’s, Michael McFaul, Barack Obama, ” McFaul, … we’re Organizations: Hong Kong CNN, University of Oxford, KCNA, intel, South, United Nations, North, Carnegie Endowment, International Peace, Kremlin, UN Security Council, Center for Arms Control, Observers, UN, National Security, Center for Strategic, International Studies Locations: Hong Kong, North Korea, Ukraine, Russia, Pyongyang, Moscow, Eurasia, United Kingdom, United States, Italy, South Korea, Japan, Seoul, Washington, North Korean, Korea, Russian, Kharkiv, Kyiv, China, Iran

☆ CNBC Daily Open: Boeing's 'moment of reckoning'
▼ + stars: | 2024-06-18 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Immigrants, jobs and inflationImmigration has helped the U.S. job market sustain a strong run in recent months without reigniting inflation, economists and analysts say. This dynamic — a hot job market and cooling inflation — is in part the result of increased inflows of immigrants. The conglomerate sold 1.3 million shares for $39.8 million, reducing its holding to 6.9%. [PRO] S&P 500 to hit 6,000Evercore ISI predicts the stock market will soar to unprecedented heights, setting a new year-end target for the S&P 500 at a record 6,000.

Persons: Neel Kashkari, CNBC's Rebecca Picciotto, Ryan Cohen, Keith Gill, Matthew Bartolini, Berkshire Hathaway, Charlie Munger, Tesla Organizations: CNBC, Microsoft, Apple, Nasdaq, Dow Jones, Minneapolis Federal, GameStop, Fund, Nvidia, SPDR Locations: U.S, SPDR Americas, Berkshire, BYD

☆ Thailand to become first Southeast Asian nation to legalize same-sex marriage
▼ + stars: | 2024-06-18 | by ( Helen Regan | Kocha Olarn | ) edition.cnn.com time to read: +8 min

The result of the vote means that Thailand will become only the third place in Asia to allow for marriage equality after Taiwan legalized same-sex marriage in 2019 and Nepal in 2023. Mark Phillips/CNNPrevious attempts to legalize marriage equality over the past decade had stalled. Nonetheless Thailand’s Prime Minister Srettha Thavisin, of the Pheu Thai Party, had also promised to bring the marriage equality bill to parliament. Japan is the only Group of Seven (G7) country that has not recognized either same-sex civil unions or same-sex marriage, despite recent high court decisions that ruled not allowing same-sex marriage is unconstitutional. South Korea does not legally recognize same-sex marriage but in February 2023, a South Korean court ruled in favor of a same-sex couple seeking equal health benefits.

Persons: ”, Panyaphon Phiphatkhunarnon, Thailand –, ” Panyaphon, Watit, ” Pokpong, Pokpong, Mark Phillips, Pita Limjaroenrat, Srettha Thavisin, Srettha, “, Peerapon Boonyakiat, Xi Jinping Organizations: CNN, Love Foundation, Pokpong, “, Party, Thailand’s, Pheu Thai Party, Bangkok Pride Locations: Thailand, Southeast Asia, Asia, Taiwan, Nepal, Bangkok, Sukhumvit, Myanmar, Brunei, Indonesia, Aceh, Malaysia, Singapore, Japan, China, Beijing, South Korea, Korea

☆ CNBC Daily Open: Nasdaq record, $25 trillion Tesla?
▼ + stars: | 2024-06-17 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nasdaq recordThe Nasdaq Composite hit its fifth consecutive record close, while the S&P 500 and Dow Jones Industrial Average saw slight declines. Consumer sentiment dropped in June, but hopes for cooling inflation boosted the S&P 500 and Nasdaq by 1.6% and 3.2% respectively for the week. Caterpillar and Boeing dragged down the Dow, while Carnival and Norwegian Cruise Line were the biggest laggards on the S&P 500. Tempus AI debutTempus AI, an AI-driven health-care diagnostics company, rose as much as 15% in its Nasdaq stock market debut.

Persons: Elon Musk, Recep Tayyip Erdogan, Fatih Aktas, Pavan Davuluri, Eric Lefkofsky, Adobe, Shantanu Narayen, Pope Francis Organizations: Turkish, United Nations, UN, Anadolu Agency, Getty, CNBC, Nasdaq, Dow Jones, Caterpillar, Boeing, Dow, Cruise Line, Microsoft, Windows, Google, China, Seven, JPMorgan Locations: New York, United States, Carnival, Russia

☆ Russia’s Putin to visit North Korea in rare trip as anti-West alignment deepens
▼ + stars: | 2024-06-17 | by ( Simone Mccarthy | Anna Chernova | ) edition.cnn.com time to read: +6 min

Following his visit to North Korea, Putin will travel to Hanoi Wednesday for another two-day trip, in a display of Communist-governed Vietnam’s ties to Russia that is likely to rankle the United States. Both countries have denied North Korean arms exports. The Kremlin has said that Russia hopes to build a partnership with North Korea “in all possible areas,” according to Russian state media. Putin’s move to bolster North Korean ties has also been a boon for Kim, who remains unbowed by years of international sanctions over his illegal nuclear weapons program. But Russia’s apparent increasing reliance on North Korea and rising frictions with the West appear to have shifted that dynamic.

Persons: CNN — Vladimir Putin, Kim Jong Un, Putin, Kim, ” Kim, Volodymyr Zelensky, Putin’s, Defense Lloyd Austin, “, ”, ” Putin, Kim Jong Il, Xi Jinping Organizations: CNN, Kremlin, Putin, North Korean, Pyongyang –, North, North Korea “, Ukrainian, Kyiv, NATO, Ukraine, Defense, United Nations Security, UN Locations: North Korea, Russian, Ukraine, Pyongyang, Hanoi, Russia, United States, South Korea, Moscow, Korean, Russia’s, Italy, Kyiv, Beijing, China, Iran, South Africa, Brazil

☆ 'We're not backing down:' How the West plans to use Russia's frozen funds, and why some say it's still not enough to help Ukraine
▼ + stars: | 2024-06-16 | by ( Filip De Mott | ) www.businessinsider.com time to read: +5 min

The Group of Seven has agreed in principal to provide Ukraine with a $50 billion loan. Profits from Russian frozen funds are to be used as collateral to back the loan. AdvertisementThe Group of Seven has finally moved the dial on a contentious idea to provide funding to Ukraine by using Russian funds. AdvertisementRoughly $322 billion in funds were frozen after Moscow invaded Ukraine and have sat untouched for over two years. That could mean Moscow taps Western funds in the country and punishes any Western companies that have remained in Russia.

Persons: —, Putin, we're, Joe Biden, Biden, Michael Froman, Donald Trump, Vladimir Putin, Charles Lichfield, Chatham House's Timothy Ash Organizations: Seven, Service, Kyiv, European Commission, of Foreign, CNBC, Moscow, The, CEPA, Financial Times Locations: Ukraine, headbutting, Moscow, Europe, Kyiv, Russia, France, Germany

☆ From $40 billion fraud to $4.5 billion settlement: Inside the latest crypto firm paying big bucks to end legal trouble
▼ + stars: | 2024-06-16 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +14 min

This week, a judge signed off on Do Kwon and his bankrupt Terraform Labs settling with the U.S. Securities and Exchange Commission for $4.5 billion. This comes after a jury unanimously found Kwon and his company liable for securities fraud following less than two hours of deliberation. But investors piled in anyway, giving luna and UST a combined market value of almost $40 billion at one point. Terraform and Kwon fought our efforts to investigate – taking a fight over investigative subpoenas all the way to the Supreme Court. They are Caroline Ellison, the Alameda Research CEO who at one time dated Bankman-Fried; FTX engineering chief Nishad Singh; and Gary Wang, the co-founder and chief technology officer of FTX.

Persons: Kwon, Woohae Cho, Sam Bankman, Changpeng Zhao, Luna, atoning, Alex Mashinsky, Wall, Stevo Vasiljevic, Reuters Kwon, He's, Satoshi Nakamoto, Elon Musk, Mike Novogratz, Gary Gensler, –, Fried, Fatih Aktas, Lewis Kaplan, Kaplan, Bankman, convicting, Prosecutors, Ryan Salame, Caroline Ellison, Nishad Singh, Gary Wang, FTX, Jason Redmond, Zhao, Richard Jones, …, Binance, Justin Sullivan Organizations: Terraform Labs, Bloomberg, Getty, U.S, Forbes, Arrows Capital, Voyager, U.S . Securities, Exchange Commission, Labs, U.S . Justice Department, Futures Trading Commission, Treasury Department, bitcoin, BlackRock, Fidelity, Reuters, terraUSD, UST, Traders, Twitter, SEC, Supreme, Anadolu Agency, Alameda Research, ., Republicans, Bankman, AFP, of Prisons, District, Bank, DOJ, CFTC, Treasury, Binance, New, Commercial Bank Locations: U.S, Balkans, Podgorica, Montenegro, Singapore, Dubai, Serbia, Balkan, South Korea, United States, lockstep, New York, Manhattan, Seattle, Lompoc , California, Binance

☆ Opinion | The Supreme Court Ruling in the Starbucks Case Proves the Law Won’t Save Labor
▼ + stars: | 2024-06-15 | by ( Jaz Brisack | ) www.nytimes.com time to read: +1 min

The outcome is predictable: the most conservative Supreme Court in decades eroded another legal protection of workers’ right to organize. In response, the labor movement must re-evaluate the source of our power; the law will not save us. U.S. labor law contains no penalties for firing workers in retaliation for organizing — only remedies. to obtain 10(j) injunctions, which are emergency legal measures intended to stop the harm that extreme union-busting actions cause to organizing campaigns, the Supreme Court underestimates the damage that retaliatory firings cause. The Supreme Court’s action exposes how little relief workers can expect to receive moving forward.

Persons: McKinney Organizations: Starbucks Corp, Supreme Court, National Labor Relations, Court Locations: Memphis, U.S

☆ G7 confronts China on commerce, pope talks about AI
▼ + stars: | 2024-06-15 | by ( ) www.cnbc.com time to read: +2 min

Italian Premier Giorgia Meloni receives Pope Francis as he arrives at the G7 Leaders Summit on day two of the 50th G7 summit at Borgo Egnazia on June 14, 2024 in Fasano, Italy. Pope Francis made an historic appearance at the Group of Seven summit on Friday to speak about the pros and cons of artificial intelligence, while G7 leaders also pledged to tackle what they said were harmful business practices by China. Italian Prime Minister Giorgia Meloni, the summit host, invited the pope and other heads of state and government, including the prime minister of India and the king of Jordan, in an effort to show the G7 was not an aloof, exclusive club. "We will never accept the narrative that wants the 'West against the rest'," Meloni told the meeting on Friday. The G7 also warned of action against Chinese financial institutions that helped Russia obtain weapons for its war against Ukraine.

Persons: Giorgia Meloni, Pope Francis, Jordan, Meloni, Joe Biden, Javier Milei Organizations: G7, Borgo Egnazia, U.S, Ukraine Locations: Borgo, Fasano, Italy, China, Italian, India, Argentine, United States, Britain, France, Germany, Japan, Canada, Russia, Washington, Taiwan, Philippines

A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations. Questions have also been raised over the legality of setting such a precedent: Russia has been cut off from its frozen assets, but retains their ownership. The proposal must now pass various legal hurdles and be backed by European states, where the majority of frozen Russian assets are held. Further loans secured against the interest accrued by Russian frozen assets could be forthcoming, U.S. Treasury Secretary Janet Yellen signaled on Thursday. The annual summit comes as most of the G7 leaders face their own domestic upheavals including national elections and falling approval ratings.

Persons: Charles Michel, CNBC's Steve Sedgwick, Joe Biden, Volodymyr Zelenskyy, Putin, we're, Biden, Michel, Janet Yellen, Yellen, We're, Russia's, Ursula von der Leyen, Georgia Meloni Organizations: U.S, West, . Security, Kyiv, Treasury, Bank, European Commission Locations: Ukraine, Moscow, Russia, Russian, Canada, France, Germany, Italy, Japan . U.S, Kuwait, U.S, Borgo Egnazia, Puglia

As well as withdrawing from the four occupied regions in eastern and southern Ukraine, Putin said Ukraine must demilitarize and that Western countries must lift their sanctions on Russia, which have damaged but not crippled its economy. Nearly 28 months later, Russia occupies around a fifth of Ukrainian territory, including the Crimean peninsula it annexed a decade ago. Moscow only controls these regions partially, but claimed the whole of each region was part of Russia’s territory in 2022. He asked that his terms for ending the war would need to be cemented in international agreements. “That is why we must not trust these messages, because Putin follows the same course,” Zelensky warned.

Persons: Vladimir Putin, Putin, ”, Volodymyr Zelensky, Louisa Gouliamaki, ” Putin’s, Zelensky, Adolf Hitler, ” Zelensky, “, Hitler, ‘, Mykhailo Podolyak, ” Podolyak Organizations: CNN, NATO, Reuters, Sky Tg24 Locations: Russia, Ukraine, Moscow, Switzerland, Donetsk, Luhansk, Kherson, Zaporizhzhia, Kyiv, Italy, Europe, Czechoslovakia, Sudetenland, Swiss

☆ ‘You unite people,’ Pope Francis tells star-studded cast of global comedians in Vatican
▼ + stars: | 2024-06-14 | by ( Christopher Lamb | Simone Mccarthy | ) edition.cnn.com time to read: +3 min

CNN —As world leaders gather in Italy for a summit addressing entrenched global crises, Pope Francis hosted an international gathering of a different sort on Friday to broadcast his own message – of the importance of humor. The leader of the Catholic Church hosted the equivalent of a conclave of comedians in the Vatican by inviting Whoopi Goldberg, Jimmy Fallon, Julia Louis-Dreyfus, Chris Rock, Stephen Colbert, Conan O’Brien and others to the Vatican. Over 200 people were in the audience at the Apostolic Palace, with more than 100 comedians from 15 countries. You denounce abuses of power; you give voice to forgotten situations; you highlight abuses; you point out inappropriate behavior,” Pope Francis added. US President Joe Biden, a Catholic who has a warm relationship with Francis, is among the leaders expected to be present at the gathering.

Persons: Pope Francis, Whoopi Goldberg, Jimmy Fallon, Julia Louis, Dreyfus, Chris Rock, Stephen Colbert, Conan O’Brien, Goldberg, Louis, Pope, ” –, ” Pope Francis, ”, Joe Biden, Francis, Francis ’, Tig Notaro, Jim Gaffigan, Colbert, Fallon, O’Brien, CNN’s Christiane Amanpour Organizations: CNN, Catholic Church, Catholic, Venice Biennale Locations: Italy, Ukraine, Venice, Vatican

☆ G7 leaders accuse China of ‘enabling’ Russia war on Ukraine in stark warning
▼ + stars: | 2024-06-14 | by ( Nectar Gan | ) edition.cnn.com time to read: +4 min

CNN —China’s support for Russia is “enabling” its war in Ukraine, leaders of the world’s most advanced economies warned Friday in a hardening of tone against Beijing, while threatening further sanctions against actors that materially support Moscow’s war machine. “China’s ongoing support for Russia’s defense industrial base is enabling Russia to maintain its illegal war in Ukraine and has significant and broad-based security implications,” the G7 leaders said in the communique Friday. The US and European Union have already slapped sanctions on Chinese companies, and this week, the US imposed fresh sanctions on China-based firms supplying semiconductors to Russia. “So it is, in fact, helping Russia.”Leaders of the G7 nations gathered in southern Italy this week, with boosting support for Ukraine top of the agenda. “We express serious concern about the increasing use of dangerous maneuvers and water cannons against Philippine vessels.”

Persons: “, Joe Biden, Filippo Monteforte Organizations: CNN, Beijing, of, European Union, ”, Ukraine, Getty, EU Locations: Russia, Ukraine, Italy, United States, Europe, China, Western, Moscow, Beijing, “ China, AFP, European, East, South China, South

☆ Think tank discusses $50 billion loan for Ukraine from frozen Russian assets
▼ + stars: | 2024-06-14 | 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 EmailThink tank discusses $50 billion loan for Ukraine from frozen Russian assetsJim Townsend, senior adjunct fellow at the Center for a New American Security, discusses the Group of Seven's decision to use frozen Russian assets to raise $50 billion for Ukraine.

Persons: Jim Townsend Organizations: Center, New, New American Security Locations: Ukraine, New American

I believe it is profoundly wrong, in difficult times like these, to campaign using a precious forum like the G7,” Meloni told reporters Thursday. Italian Prime Minister Giorgia Meloni welcomes US President Joe Biden to the G7 summit, June 13, 2024. The 2023 G7 communique, released after the last summit in Hiroshima, Japan, called for “access to safe and legal abortion and post abortion care.” Previous summits’ communiques had stopped short of using the word “abortion,” calling instead for access to sexual and reproductive health services. The spat between Meloni and Macron comes after France in March became the world’s first country to enshrine abortion rights in its constitution, the culmination of an effort which began in direct response to the US Supreme Court’s decision to roll back abortion rights in America. The same sensibility is not shared in your country today,” Macron told an Italian journalist at the summit.

Persons: Emmanuel Macron, Georgia Meloni, Macron, ” Meloni, “, ” Italy’s, ”, Giorgia Meloni, Joe Biden, Luca Bruno, communiques, Biden, Meloni, Roe, Wade, Donald Trump, Francesco Lollobrigida, Meloni’s, Pope, ” Macron Organizations: CNN, Seven, “, AP, United, Ukraine Locations: Italy, Italian, France, “ France, Puglia, Ukraine, Hiroshima, Japan, America

☆ G7 leaders agree to loan Ukraine money backed by profits from frozen Russian investments
▼ + stars: | 2024-06-13 | by ( Betsy Klein | Michael Williams | ) edition.cnn.com time to read: +6 min

CNN —Group of Seven leaders have reached an agreement to loan money to Ukraine backed by the profits from frozen Russian investments, a senior administration official confirmed Thursday. While Ukraine is not a G7 member, its president, Volodymyr Zelensky, attended the summit and participated in a Thursday evening joint news conference with Biden. “Would we stand with Ukraine?” Biden said at the news conference. The United States, the G7 and countries around the world have consistently answered that question by saying yes we will. The loan will be drawn from funds frozen by Western leaders in the wake of Russia’s invasion of Ukraine in 2022.

Persons: Volodymyr Zelensky, Biden, “, ” Biden, … we’re, ”, Jake Sullivan, Donald Trump, Trump, Vladimir Putin, Zelensky, ” Zelensky, … Organizations: CNN — Group, Seven, Ukraine, House, Republican Locations: Ukraine, United States, Italy, Puglia, Russia, Ukrainian, Europe, November’s, Israel, Taiwan

☆ Supreme Court Ruling in Starbucks Case Curbs Labor Regulation
▼ + stars: | 2024-06-13 | by ( Santul Nerkar | Noam Scheiber | ) www.nytimes.com time to read: +1 min

The Supreme Court ruled in favor of Starbucks on Thursday in a challenge against a labor ruling by a federal judge, making it more difficult for a key federal agency to intervene when a company is accused of illegally suppressing labor organizing. Eight justices backed the majority opinion, which was written by Justice Clarence Thomas. Justice Ketanji Brown Jackson wrote a separate opinion concurring with parts of the majority opinion, dissenting from other portions and agreeing with the overall judgment. The ruling came in a case brought by Starbucks over the firing of seven workers in Memphis who were trying to unionize a store in 2022. The company said it had fired them for allowing a television crew into a closed store, while the workers said that they were fired for their unionization efforts and that the company didn’t typically enforce the rules they were accused of violating.

Persons: Clarence Thomas, Justice Ketanji Brown Jackson, “ Organizations: Starbucks, National Labor Relations Board Locations: Memphis, Tennessee

☆ Yellen: More Ukraine aid can be backed by frozen Russian assets after initial $50 billion loan
▼ + stars: | 2024-06-13 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

U.S. Treasury Secretary Janet Yellen said Thursday that the $50 billion loan to Ukraine that President Joe Biden and other leaders of Group of Seven highly developed nations have agreed to could be the first of multiple loans backed by frozen Russian assets. The $50 billion loan will be backed with at least $260 billion worth of frozen Russian central bank assets as collateral. "While we're trying to move quickly on this, I can't give any type of timeline as to when money would actually start flowing to Ukraine," Yellen said. If necessary, the U.S. will commit the entire $50 billion, a senior administration official told reporters Thursday on a press call. "I think it's important for Putin to realize that we remain completely united in support of Ukraine," Yellen said.

Persons: Janet Yellen, Joe Biden, Yellen, We're, Biden, Putin Organizations: Treasury, Economic, of New, Union, Washington, Russia Locations: of New York, New York City, U.S, Ukraine

☆ Hezbollah says it attacked 9 Israeli military sites with rockets, drones
▼ + stars: | 2024-06-13 | by ( ) www.cnbc.com time to read: +2 min

An artillery unit moves near the Israeli northern border with Lebanon on November 8, 2023 in Tel Aviv, Israel. Hezbollah said it had launched rockets and weaponized drones at nine Israeli military sites in a coordinated attack on Thursday, ramping up hostilities on Lebanon's southern border for the second consecutive day. The attacks were carried out in retaliation for an Israeli strike on Tuesday that killed a senior Hezbollah field commander. Hezbollah said in a statement it had fired volleys of Katyusha and Falaq rockets at six Israeli military locations. Its Al-Manar television reported more than 100 rockets fired at once.

Persons: Kan, David Mencer Organizations: Reuters, Seven Locations: Lebanon, Tel Aviv, Israel, Gaza, Iran, Safed, Italy

☆ Kevin Spacey says he was ‘too handsy’ in the past
▼ + stars: | 2024-06-12 | by ( Lianne Kolirin | ) edition.cnn.com time to read: +3 min

CNN —Kevin Spacey has said that he was “too handsy” and that he’s been guilty of “pushing the boundaries” in the past, in a lengthy interview released Tuesday. The two-time Oscar winner was responding to claims of inappropriate behavior in an interview that ran for more than 90 minutes. “I’m absolutely 150% prepared to take accountability for those things and mistakes that I made… bad, bad, bad, behavior some times,” he told Piers Morgan Uncensored on YouTube. Last year, Spacey, 64, was found not guilty of seven counts of sexual assault and two counts of other serious sexual offenses following a four-week trial in London. The allegations covered a period between 2004 and 2013, when Spacey served as artistic director at the Old Vic theater in the British capital.

Persons: Kevin Spacey, he’s, “, ”, Piers Morgan, Spacey, Anthony Rapp, Morgan, ” Morgan, ” Spacey, Susannah Ireland, “ can’t Organizations: CNN, YouTube, Old, Southwark Crown, Reuters, “, Netflix Locations: London, New York, Nantucket, Massachusetts, Southwark, Baltimore

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