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☆ Analysis: Harris gets a dream start, but the task ahead is monumental
▼ + stars: | 2024-07-23 | by ( Stephen Collinson | ) edition.cnn.com time to read: +12 min

Her multi-hour phone blitz to Democratic Party power players on Sunday hinted at an operation primed ahead of time but that was kept secret and didn’t leak. The vice president has shown signs of improving her political skills recently, but that’s never been her forte. In a memo to reporters, the Trump campaign previewed a blistering assault to come on Harris. Harris is the least popular vice president in history – which is no surprise given her terrible record,” the memo said. The question now is whether Harris, who has exhibited considerable political liabilities as vice president, has the skills, staying power and luck to take advantage.

Persons: CNN — Kamala Harris, Joe Biden –, Donald Trump, Harris, Biden, Nancy Pelosi, Biden’s, Pelosi, Harris –, Trump, that’s, Barack Obama, Susie Wiles, Chris LaCivita, “ She’s, Joe Biden, ” Harris carves, He’s, pollsters, • Harris, Ben Wikler, ”, outpolled, Nikki Haley, “, you’re, we’ve, Eric Swalwell, CNN’s John Berman, Chris Sununu, ’ ” • Harris, Hakeem Jeffries, Chuck Schumer, Kamala Harris, ” Harris, anoint Harris, •, It’s, Vance, “ Kamala Harris Organizations: CNN, Democratic, Democratic Party, Sunday, Trump, Biden, Republican, GOP, Chicago . Governors, Wisconsin Democratic, Badger, Former South Carolina Gov, ” Democratic, • New, • New Hampshire Republican Gov, White, National Collegiate Athletics Association, Paris Olympics, • Locations: Wilmington , Delaware, Covid, Washington, America, Harris, Chicago ., California, •, • New Hampshire, Iowa, American

☆ A list of the songs vying to be 2024’s summer anthem
▼ + stars: | 2024-06-21 | by ( Scottie Andrew | ) edition.cnn.com time to read: +9 min

It was easier even a decade ago to settle on the song of the summer. Now that summer has officially started, sample these musical confections and decide for yourself — what’s destined to become the song of summer 2024? Daniel Boczarski/Getty ImagesNot Like Us, Kendrick Lamar Credit: Kendrick Lamar, under exclusive license to Interscope RecordsHere’s a song of the summer that breaks all the rules. ‘A Bar Song (Tipsy),’ ShaboozeyShaboozey mashes up pop-country with the 2004 club classic "Tipsy" on his mournful yet singable hit, "A Bar Song (Tipsy)." Still, lyrics about dragging your increasingly drunk self from bar to bar in a desperate attempt to shed the stress of your 9-to-5 are not unrelatable.

Persons: it’s, Mike Errico, New York University’s, Errico, Sabrina Carpenter Sabrina Carpenter, Nina Westervelt, Sabrina Carpenter, “, Billie Eilish, Billie Eilish's, Arturo Holmes, Eilish, —, Randy Holmes, Tinashe’s, Janet Jackson, factly, Babe, ’ Chappell Roan Chappell Roan, Stephen J, Cohen, Chappell, ”, Kate Bush, Cyndi Lauper’s, Roan fantasizes, Roan didn’t, ’ Tommy Richman, Tommy Richman, Johnny Louis, Richman, ’ Kendrick Lamar, Kendrick Lamar, Drake, Daniel Boczarski, — Lamar, It’s, Lamar, Brett Carlsen, Carter, Shaboozey Organizations: CNN, New York, Davis, Island Records, UMG, Inc, Interscope, Disney, Life, Amusement Records, Getty, Tommy Richman Credit, Concord, Kendrick Lamar Credit, Interscope Records, Lamar, American Locations: New, TikTok, British, singalongs, Chappell Roan, LA, Nashville

☆ 17 A-listers who starred in critics' most-hated movies
▼ + stars: | 2024-05-21 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +1 min

Some A-listers have starred in films that critics have unanimously hated. Each movie on this list received a 0% critics rating on Rotten Tomatoes. John Travolta starred in two of the most-hated films: "Look Who's Talking Now!" download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.

Persons: John Travolta, Gotti, —, Sean Connery, Juan Sánchez, Villalobos Ramírez Organizations: Rotten, Service, Office, Business

☆ I was too afraid to tell my boss 'no.' My burnout was so bad that one day I left the office on a stretcher.
▼ + stars: | 2024-04-21 | by ( Teresa Vozza | ) www.businessinsider.com time to read: +5 min

I tried to repeat the boundary script I read in a Forbes article the previous day. When I left the room, I obsessed over everything I said, questioning whether I sounded stupid or not. Even though both childhood trauma and burnout symptoms often overlap, the solution differs. Most traditional burnout recovery approaches overfocus on external solutions — like physical exercise or an adequate rest and sleep schedule. If I feel triggered at work, I quietly tell myself that freezing or complying helped younger Teresa survive scary events.

Persons: —, Teresa, Teresa — Organizations: Service, Forbes, Business, Human Resources, Starbucks, Family Systems

☆ The History Behind Arizona’s 160-Year-Old Abortion Ban
▼ + stars: | 2024-04-10 | by ( Pam Belluck | ) www.nytimes.com time to read: +1 min

The 160-year-old Arizona abortion ban that was upheld on Tuesday by the state’s highest court was among a wave of anti-abortion laws propelled by some historical twists and turns that might seem surprising. For decades after the United States became a nation, abortion was legal until fetal movement could be felt, usually well into the second trimester. Before that point, “women could try to obtain an abortion without having to fear that it was illegal,” said Johanna Schoen, a professor of history at Rutgers University. After quickening, abortion providers could be charged with a misdemeanor. “I think what was stigmatized was maybe this idea that you were having sex outside of marriage, but of course, married women also ended their pregnancies.”

Persons: ”, Johanna Schoen, “, Dr, Schoen Organizations: Rutgers University Locations: Arizona, United States

☆ Stock futures tick higher as key March inflation report looms: Live updates
▼ + stars: | 2024-04-09 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Stock futures inched higher Tuesday night as investors await key U.S. inflation data that will inform the Federal Reserve's path on rate policy. During Tuesday's regular trading, investors appeared to be in a holding pattern ahead of the March consumer price index report. The CPI report, which is set to release on Wednesday at 8:30 a.m. Fed funds futures trading data suggests a 42% likelihood that the central bank will hold steady on rates in June, according to the CME FedWatch Tool. In addition to the big inflation report on Wednesday, investors are also looking forward to the meeting minutes from the Fed's gathering last month.

Persons: Dow, Dow Jones, Quincy Krosby, Krosby Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, CPI, Traders, LPL, Delta Air Lines Locations: New York City, Quincy

☆ Russian election: As Putin readies for a fifth term, the Kremlin is stepping up its war on its own people
▼ + stars: | 2024-03-09 | by ( Clare Sebastian | ) edition.cnn.com time to read: +10 min

In January, she was jailed for five and a half years for spreading “false” information about the army. Russian independent news outlet Mediazona reported she was convicted after two reposts on VKontakte — Russia’s version of Facebook — including one about Russian troop deaths. Oskar CherdzhievRussia’s powerful investigative committee ordered a criminal case be opened on charges of spreading false information about the army. So they try to protect this.”‘Deeper and deeper into this darkness’With mainstream Russian media now entirely state-controlled, the authorities are targeting other forms of expression — the arts, literature and culture. In December, Akunin was added to Russia’s “terrorist and extremist list” for allegedly justifying extremism and spreading false information about the Russian army.

Persons: It’s, ”, Oleg Orlov, Vladimir Putin, Putin, Orlov, Tatyana Makeyeva, Darya, “, ” Korolenko, Konstantin Eggert, Evgeniya, Nadezhda Buyanova, —, Buyanova, Oskar Cherdzhiev Russia’s, Grigory Chkhartishvili, Boris Akunin, he’s, Akunin, Russia’s, Misha Japaridze, Alexey Navalny, Andrei Soldatov, ” Soldatov, Soldatov Organizations: CNN, Facebook, Higher School of, Center, Combating Extremism, Bolshevik Locations: Moscow, Russia, Ukraine, Soviet, Orlov’s, Russian, Shakhty, Ukrainian, ” Russia, Covid, USSR

☆ How a botched impeachment laid bare a GOP House that cannot function
▼ + stars: | 2024-02-07 | by ( Stephen Collinson | ) edition.cnn.com time to read: +9 min

And it raised serious doubts over the GOP’s capacity to pull off another politized maneuver designed to please the former president – an impeachment of President Joe Biden. The malpractice of Johnson’s impeachment team was encapsulated by Democrats outmaneuvering them to bring a shoeless Rep. Al Green, who was recovering from surgery, to the chamber in a wheelchair to cast a dramatic vote. Losing the ability to governThe House GOP meltdown came as this divided, angry Congress’ capacity to govern at the most basic level appears to be imploding. But the most Trumpy wing of the House GOP has other concerns. But Tuesday’s confusion shows that a House majority dominated by extremism and exhibitionism is not an operable majority.

Persons: Mike Johnson’s speakership, –, Alejandro Mayorkas, Donald Trump’s, Joe Biden, outmaneuvering, Al Green, Johnson, Biden, ”, Trump, Oklahoma Sen, James Lankford, – Johnson, Mayorkas, ” It’s, it’s, “, Elise Stefanik, —, Steve Scalise, Kevin McCarthy, California — Organizations: CNN, Homeland, Israel, GOP, House Republicans, Republicans, Democratic, Trump, Congress, Capitol Locations: Ukraine, Taiwan, Oklahoma, Israel, Russia, China, California, New York, Washington, America

☆ Millions at risk as California braces for record rainfall and high winds
▼ + stars: | 2024-02-04 | by ( Leila Sackur | ) www.cnbc.com time to read: +4 min

Atmospheric rivers caused downpours in the Bay Area on Wednesday, bringing cable car services to a halt, before moving on to Los Angeles and San Diego by Thursday. Officials in Santa Barbara County raised evacuation advisories to orders on Saturday, calling on residents to be at a "very high state of readiness." Heavy rain and extreme weather caused roadway erosion at San Onofre's lower parking lot, with images on social media showing sections of the lot collapsing onto the beach below. A Sunday update from the National Weather Service Weather Prediction Center predicted risks of rainfall exceeding flash flood guidance across swathes of the state with "high risk" — estimated at 70% probability — for San Diego and Orange Counties. The storm comes as the San Diego County Medical Examiner's Office announced it was investigating three deaths in late January as related to California's last encounter with heavy storms.

Persons: Santa Barbara County, Gloria Sandoval, Flood, Gavin Newsom's Organizations: National Weather Service, Bay Area, California State Parks, NBC, Prediction, Orange Counties, San Diego, Examiner's Locations: California, Encinitas , California, U.S, Monterey County, Jose, Guadalupe, Santa Cruz, San Jose, downpours, Bay, Los Angeles, San Diego, Santa Barbara, Central Coast, Angeles County, Sonoma , Marin, San Francisco, Monterey, San Luis Obispo, Southern California's, Orange, San Diego County

☆ Analysis: Why DeSantis’ departure isn’t likely to change the dynamic between Trump and Haley
▼ + stars: | 2024-01-21 | by ( Ron Brownstein | Analysis Ronald Brownstein | ) edition.cnn.com time to read: +17 min

The DeSantis and Haley camps each believed they would benefit if the other left the field and created an unambiguous one-on-one race with Trump. In fact, both the Trump and DeSantis campaigns believe that more of the Florida governor’s supporters will likely pick Trump. Any gain or loss for Haley among voters from DeSantis’ decision seems likely to affect the race only marginally, many GOP observers believe. Even at that point in the 2016 race, Trump had won only a cumulative 40% of the votes cast in the GOP primaries. His theory that he could peel away a meaningful number of previous Trump voters simply proved wrong.

Persons: New Hampshire CNN —, Ron DeSantis, Nikki Haley, Donald Trump, DeSantis, Haley, Trump, Joe Biden, Haley doesn’t, Biden, winnowing, Whit Ayres, ” Ayres, Texas Sen, Ted Cruz, George Conway, “ Trump, David Kochel, “, he’s, –, Trump’s, ”, Alex Stroman, Trump’s MAGA, MAGA, CNN DeSantis, “ DeSantis, Scott Reed, Bob Dole’s, John Connally, suburbanites, Vivek Ramaswamy, Donald Trump’s, ” Stroman, Jean Carroll, Mike Murphy, – Haley, Sen, Marco Rubio, she’s, Mike Dennehy, John McCain’s, Bill Kristol, Kristol, ” Kristol, Matt Gaetz, Ginger Heald, Ayres, Grover Cleveland, Republican Benjamin Harrison, Reed, Dole, Mike Pence, Pence, ” Reed, “ He’s Organizations: New Hampshire CNN, Florida Gov, GOP, South Carolina Gov, Republican, Trump, CNN, New Hampshire, Democratic, South, University of New Hampshire, Republicans, Texas, nonurban Whites, The, South Carolina Republican Party, Edison Research, Trump Trump, Biden, New Hampshire GOP, Florida Republican, Merrimack Republican, Committee, DeSantis Locations: Manchester, New Hampshire, Florida, South Carolina, New, Iowa, DeSantis, As, Hampshire, New York, Trump, The Florida, Trump’s, Texas, Charleston, Polk County, Trump’s Manchester , New Hampshire, Ukraine, Israel, ”

☆ US third-quarter growth revised higher; corporate profits rise strongly
▼ + stars: | 2023-11-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +5 min

The quickest growth pace in nearly two years reported by the Commerce Department on Wednesday, however, likely exaggerated the health of the economy last quarter. Economists polled by Reuters had expected GDP growth would be revised up to a 5.0% rate. The upward revision to growth last quarter reflected upgrades to business investment on structures, mostly warehouses and healthcare facilities. Inventory investment added 1.40 percentage points to GDP growth. Profits rose at a 0.8% rate in the second quarter.

Persons: Elizabeth Frantz, Christopher Rupkey, There's, Gregory Daco, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Andrea Ricci Organizations: REUTERS, WASHINGTON, Commerce Department, Gross, Commerce Department's, Reuters, Federal, United Auto Workers, Treasury, Federal Reserve, Fed, LPL Financial, Thomson Locations: Arlington , Virginia, U.S, New York, EY, Charlotte , North Carolina

☆ US economy grows 5.2% in third quarter; higher interest rates eroding momentum
▼ + stars: | 2023-11-29 | by ( Lucia Mutikani | ) www.reuters.com time to read: +7 min

The growth pace, which was the quickest in nearly two years, however, likely exaggerated the health of the economy last quarter. Economists polled by Reuters had expected GDP growth would be revised up to a 5.0% rate. Inventory investment added 1.40 percentage points to GDP growth, instead of the 1.32 percentage points estimated last month. Higher wages contributed to the economy growing at a 1.5% rate last quarter, the fastest in a year, when measured from the income side. That suggested trade could be a drag on GDP growth this quarter after being a neutral factor in the April-June period.

Persons: Elizabeth Frantz, Christopher Rupkey, There's, Conrad DeQuadros, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: REUTERS, Commerce Department, Gross, Commerce Department's, Analysis, Reuters, Federal, United Auto Workers, Treasury, Brean, BEA, Fed, LPL Financial, Thomson Locations: Arlington , Virginia, U.S, WASHINGTON, New York, Charlotte , North Carolina

[1/2] FILE PHOTO: Robotic arms assemble cars in the production line for Leapmotor's electric vehicles at a factory in Jinhua, Zhejiang province, China, April 26, 2023. Retail sales, a gauge of consumption, rose 7.6% in October, quickening from a 5.5% gain in September and hitting the fastest growth since May. Analysts had expected retail sales to grow 7.0% due to the low base effect in 2022 when COVID curbs disrupted consumers and businesses. The PBOC has cut banks' reserve requirement ratio (RRR) twice this year to free up liquidity to aid the economic recovery. Fixed asset investment expanded 2.9% in the first 10 months from the same period a year earlier, versus expectations for a 3.1% rise.

Persons: Xing Zhaopeng, Albee Zhang, Liangping Gao, Shri Navaratnam Organizations: REUTERS, Rights, National Bureau of Statistics, Analysts, ANZ, People's Bank of China, Bloomberg, Thomson Locations: Jinhua, Zhejiang province, China, Rights BEIJING, quickening

☆ Analysis: Biden's Middle East mission was thrown into turmoil even before he left
▼ + stars: | 2023-10-17 | by ( Stephen Collinson | ) edition.cnn.com time to read: +13 min

A devastating blast at a hospital in Gaza believed to have killed hundreds of people prompted Jordan to cancel the second leg of Biden’s trip. And like any major presidential intervention in a troubled world, Biden’s visit carries the possibility of failure that could damage his political standing at home. Hamas accused Israeli forces of attacking the hospital and killing between 200 to 300 people. A global outpouring of support for Israel risks overshadowing the growing human toll of its attacks against Hamas targets in Gaza. Clashes have already broken out in Ramallah, the seat of the Palestinian Authority in the West Bank after the Gaza hospital blast.

Persons: Joe Biden’s, Jordan, he’d, Benjamin Netanyahu’s, –, Biden, he’ll, David Axelrod, CNN’s Oren Liebermann, Zachary Cohen, Israel, King Abdullah, Abdel Fattah el, Mahmoud Abbas, ”, Ayman Safadi, Antony Blinken, Israel Biden, Netanyahu, Netanyahu’s, ” Biden, Donald Trump, Trump, ” Trump Organizations: CNN, West, –, Israel Defense Forces, Islamic, Zachary Cohen Tuesday, Biden, Andrews Air Force Base, Palestinian Authority, West Bank, Jordan’s, White, Hamas, Israel, Fury, Trump Locations: Washington, Gaza, Israel, Amman, West Bank, Lebanon, Iraq, Iran, Tunisia, Middle East, United States, Maryland, Jordan, Al Jazeera, Egypt, Ramallah, Saudi Arabia, Ukraine, New York

☆ China to cut banks' FX reserve ratio to rein in yuan weakness
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. The People's Bank of China (PBOC) said it would cut the foreign exchange reserve requirement ratio (RRR) by 200 basis points (bps) to 4% from 6% beginning Sept. 15, according to an online statement. That would effectively free up $16.4 billion worth of foreign exchange with China's FX deposits standing at $821.8 billion at end-July. The PBOC said its move was to "improve financial institutions' ability to use foreign exchange funds". Cheung added that Friday's announcement reinforced the central bank's stance to defend a weakening yuan but was "unlikely to reverse the bearish picture of the yuan."

Persons: Jason Lee, Ken Cheung, Cheung, Winni Zhou, Tom Westbrook, Christian Schmollinger, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Mizuho Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States

☆ Opinion | Catch the Smug Mug on That Thug!
▼ + stars: | 2023-08-26 | by ( Maureen Dowd | ) www.nytimes.com time to read: 1 min

WASHINGTON — If there were any justice in the world, Donald Trump would have taken the Mug Shot of Dorian Gray. As with Oscar Wilde’s charismatic and amoral narcissist, the Picture of Donald Trump should have been a “foul parody,” a reflection of what the chancer has done with his life. It should have revealed a man so cynical and depraved that he is willing to smash our nation’s soul — our democracy — and destroy faith in our institutions. “Through some strange quickening of inner life the leprosies of sin were slowly eating the thing away,” Wilde wrote of Dorian’s portrait. “The rotting of a corpse in a watery grave was not so fearful.”

Persons: WASHINGTON, Donald Trump, Dorian Gray ., Oscar Wilde’s, narcissist, ” Wilde, ”

He called the U.S. central bank's misreading of the issue "a major failure" that can mar analysis of where the economy stands. Since 2016, policies from the vastly different Trump and Biden administrations have combined in a sort of accidental complementarity to keep both job and economic growth above the Fed's estimate of potential. Median Fed policymaker projections of potential U.S. economic growth have slid from a level around 2.5% a decade ago to 1.8% as of June 2023, when the last projections were issued. Under pressure from colleagues to raise interest rates as the economy accelerated, Greenspan resisted and accommodated the expansion instead of fighting it. But it could help economic growth continue even as prices cool, another prop for the "soft landing" the Fed hopes to engineer and possible evidence of rising potential.

Persons: John Williams, Joe Biden, Adam Posen, Donald Trump, Trump's, Biden, Dana Peterson, Peterson, Jerome Powell, Board's Peterson, Alan Greenspan's, Greenspan, Jackson, John Fernald, Huiyu Li, Michael Feroli, Antulio Bomfim, Powell, Howard Schneider, Paul Simao Organizations: Federal Reserve, New York Fed, San Francisco, Fed, Reuters, BlackRock, Bank of England, Peterson Institute for International Economics, Trump, Biden, Conference Board, Jackson, San Francisco Fed, JPMorgan, Trust Asset Management, Thomson Locations: U.S, Jackson Hole , Wyoming, Washington

☆ Dollar set for fifth winning week on Fed bets, China worries
▼ + stars: | 2023-08-18 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. Strong economic data this week, particularly retail sales, had already bolstered the case for additional tightening. That all helped push 10-year Treasury yields to the highest since October at 4.328% on Thursday. "The risk aversion, the higher yields, the resilient economic data ... all of those things have played out to perfection for the U.S. Against the yen, the dollar eased 0.32% to 145.365 on Friday, after reaching a nine-month peak of 146.40 overnight.

Persons: Florence Lo, Tony Sycamore, Sycamore, Ray Attrill, Kevin Buckland, Jacqueline Wong, Simon Cameron, Moore Organizations: REUTERS, Rights, People's Bank of, U.S, Federal, IG, U.S ., National Australia Bank, Reuters, HK, . Treasury, Thomson Locations: Beijing, People's Bank of China, China, U.S

☆ Russian central bank hikes rates by 350 bp to 12% in extraordinary meeting
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

A Russian state flag flies over the Central Bank headquarters in Moscow, Russia March 29, 2021. A sign reads: "Bank of Russia". President Vladimir Putin's economic adviser Maxim Oreshkin on Monday rebuked the central bank blaming what he called its soft monetary policy on the weakening rouble. Hours after Oreshkin's words, as the rouble dived towards the 102 mark against the dollar, the bank announced the emergency meeting, throwing the currency a lifeline. The bank then steadily lowered the cost of borrowing to 7.5% as strong inflation pressure eased in the second half of 2022.

Persons: Maxim, Rouble, Vladimir Putin's, Maxim Oreshkin, Alexander Marrow, Guy Faulconbridge Organizations: Central Bank, Bank of, of Russia, Kremlin, Russia, Reuters, Thomson Locations: Russian, Moscow, Russia, Bank of Russia, Ukraine MOSCOW, Ukraine

☆ Russia's rouble rises ahead of central bank extraordinary meeting
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +3 min

Russia's central bank will hold an extraordinary meeting at on Tuesday to discuss the level of its key interest rate, currently at 8.5%. A decision will be published at 10:30 Moscow time (0730 GMT), the central bank said. The central bank's most recent emergency hike came in late February 2022 with a rate raise to 20% in the immediate fallout of Russia's invasion of Ukraine. After that, the bank steadily lowered the cost of borrowing before quickening inflation forced a 100-basis-point hike to 8.5% last month. "The central bank has all the tools to normalise the situation in the near future," President Vladimir Putin's economic adviser Maxim Oreshkin said on Monday.

Persons: Shamil Zhumatov, Rouble, Vladimir Putin's, Maxim Oreshkin, Putin, Guy Faulconbridge Organizations: REUTERS, Central, Sber Investments, Reuters, Thomson Locations: MOSCOW, Russian, Ukraine, Russia's, Moscow, Russia, Europe

☆ Social Media Makes Teens Unhappy. It’s Time to Stop the Algorithm. - The New York Times
▼ + stars: | 2023-07-18 | by ( Chris Murphy | ) www.nytimes.com time to read: +3 min

And all over social media are highly curated and filtered fake lives, breeding a sense of envy and inadequacy inside the developing brains of teenagers. Social media companies know that content that generates negative feelings holds our attention longer than that which makes us feel good. If you are a teenager feeling bad about yourself, your social media feed will typically keep delivering you videos and pictures that are likely to exacerbate negative feelings. It is not a coincidence that teenage rates of sadness and suicide increased just as algorithmically driven social media content took over children’s and adolescents’ lives. The psychological impact of the coming transition of thousands of everyday basic human tasks to machines will make the effect of social media look like child’s play.

Persons: ”, ’ Organizations: Social Locations: Connecticut

☆ China's PBOC asks foreign banks about dollar deposit rates amid weak yuan
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +3 min

The People's Bank of China did not immediately respond to Reuters request for comments. The PBOC said in mid-May that authorities will resolutely curb large fluctuations in the exchange rate and study the strengthening of self-regulation of dollar deposits. Weeks later, sources told Reuters that a self-regulatory body overseen by the central bank had told major state-owned banks to lower dollar deposit interest rates. Big banks were told to cap them at 4.3%, from the previous ceiling of 5.3%. "The move could help increase offshore dollar deposits," said a trader at a foreign bank, adding it may add downside pressure on China's balance of payments and the yuan.

Persons: PBOC, Weeks, Christopher Wong Organizations: People's Bank of China, Reuters, U.S . Federal, OCBC Bank, Thomson Locations: SHANGHAI, BEIJING, China, U.S

☆ Factbox: Policy measures China's central bank could use to stem yuan weakness
▼ + stars: | 2023-06-29 | by ( ) www.reuters.com time to read: +3 min

** DAILY MIDPOINT SETTINGThe onshore spot yuan can trade in a 2% range around the midpoint set by the PBOC in the daily fix. Weeks later, sources told Reuters that a self-regulatory body overseen by the central bank had told major state-owned banks to lower dollar deposit interest rates and bolster the yuan. It last cut the foreign exchange reserve requirement ratio for financial institutions to 6% from 8% in September 2022 to slow yuan depreciation. ** TIGHTER OFFSHORE YUAN LIQUIDITYTo reduce yuan liquidity offshore, the PBOC issued more yuan-denominated bills in Hong Kong. While the amounts were small, analysts said they sent a clear message guiding expectations for the yuan exchange rate.

Persons: PBOC, Weeks, Winni Zhou, Tom Westbrook, Robert Birsel Organizations: People's Bank of China, Reuters, Thomson Locations: China, State, Hong Kong

With economic and monetary policy outlooks varying, currency moves are increasingly out of sync with each other. More pain is also anticipated for the yuan, trading near seven-month lows, as well as smaller Asian currencies. It's continuing to weaken against some European currencies and also Latin American currencies," he said. MULTI-LAYERED CRISISKit Juckes, head of FX strategy at Societe Generale, said the focus on monetary policy differences was also a result of uncertainties elsewhere. "We've got a one-in-a-100-years pandemic and once-in-75-years war and a-once-in-25-years energy crisis all thrown into the mix together," said SocGen's Juckes.

Persons: Yen, Pound, Jordan Rochester, Nomura, Lee Hardman, Hardman, Juckes, Morgan Stanley reckons, We've, SocGen's, You’ve, Dhara Ranasinghe, Alun John, John Stonestreet Organizations: The Bank of, European Central Bank, Reuters Graphics Rochester, Societe Generale, Bank of Japan, Thomson Locations: Europe, COVID, Ukraine, The Bank of Japan, United States, Beijing, Scandinavia

☆ China starts to slow yuan's one-way slide
▼ + stars: | 2023-06-27 | by ( ) www.reuters.com time to read: +4 min

Analysts said that together the moves showed official unease at the yuan's downward momentum and that they could slow but perhaps not halt a decline, given the dour economic outlook. "They are sending more signals now they're uncomfortable ... they would like to slow the yuan weakness," said Moh Siong Sim, a currency strategist at Bank of Singapore. The yuan ended Monday at a seven-month low of 7.2425 per dollar and was at 7.2105 in Tuesday afternoon trade. BACK FOOTThe push back comes as investors sour on China, with data showing China's vaunted rebound faltering. Analysts said moves to halt the yuan's slide were not yet as firm as last year, when regulators rolled out measures to encourage capital inflows, but might be enough to slow selling.

Persons: Yuan, Siong Sim, Stocks, Alvin Tan, We've, Rob Carnell, Carnell, That's, Ankur Banerjee, Tom Westbrook, Rae Wee, Vidya Ranganathan, Kim Coghill, Jacqueline Wong Organizations: People's Bank of China, Analysts, Bank of Singapore, UBS, Australian, Asia FX, RBC Capital Markets, Beijing, Thomson Locations: SHANGHAI, BEIJING, China, Hong Kong, Asia, Shanghai, Singapore

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